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)
| 7272 Wisconsin Avenue, 21st Floor 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, 2023
Item 1. Reports to Stockholders.
Semiannual Report
JANUARY 31, 2023
| | Investor | | Service |
| Access Flex Bear High Yield ProFund | AFBIX | | AFBSX |
| Access Flex High Yield ProFund | FYAIX | | FYASX |
| Banks UltraSector ProFund | BKPIX | | BKPSX |
| Bear ProFund | BRPIX | | BRPSX |
| Biotechnology UltraSector ProFund | BIPIX | | BIPSX |
| Bitcoin Strategy ProFund | BTCFX | | |
| Bull ProFund | BLPIX | | BLPSX |
| Communication Services UltraSector ProFund | WCPIX | | WCPSX |
| Consumer Discretionary UltraSector ProFund | CYPIX | | CYPSX |
| Consumer Staples UltraSector ProFund | CNPIX | | CNPSX |
| Energy UltraSector ProFund | ENPIX | | ENPSX |
| 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 |
| Materials UltraSector ProFund | BMPIX | | BMPSX |
| Mid-Cap Growth ProFund | MGPIX | | MGPSX |
| Mid-Cap ProFund | MDPIX | | MDPSX |
| Mid-Cap Value ProFund | MLPIX | | MLPSX |
| Nasdaq-100 ProFund | OTPIX | | OTPSX |
| Oil & Gas 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 |
| Short Bitcoin Strategy ProFund | BITIX | | |
| Short Energy ProFund | SNPIX | | SNPSX |
| Short Nasdaq-100 ProFund | SOPIX | | SOPSX |
| Short Precious Metals ProFund | SPPIX | | SPPSX |
| Short Real Estate ProFund | SRPIX | | SRPSX |
| Short Small-Cap ProFund | SHPIX | | SHPSX |
| Small-Cap Growth ProFund | SGPIX | | SGPSX |
| Small-Cap ProFund | SLPIX | | SLPSX |
| Small-Cap Value ProFund | SVPIX | | SVPSX |
| Technology UltraSector ProFund | TEPIX | | TEPSX |
| Telecommunications UltraSector ProFund | TCPIX | | TCPSX |
| 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 |
| U.S. Government Plus ProFund | GVPIX | | GVPSX |
| Utilities UltraSector ProFund | UTPIX | | UTPSX |
Table of Contents
| 1 | | Message from the Chairman |
| 3 | | Allocation of Portfolio Holdings and Index Composition |
| 27 | | Expense Examples |
| | | |
| | Schedules of Portfolio Investments |
| 34 | | Access Flex Bear High Yield ProFund |
| 35 | | Access Flex High Yield ProFund |
| 36 | | Banks UltraSector ProFund |
| 38 | | Bear ProFund |
| 39 | | Biotechnology UltraSector ProFund |
| 41 | | Bitcoin Strategy ProFund |
| 42 | | Bull ProFund |
| 45 | | Communication Services UltraSector ProFund |
| 47 | | Consumer Discretionary UltraSector ProFund |
| 50 | | Consumer Staples UltraSector ProFund |
| 53 | | Energy UltraSector ProFund |
| 55 | | Europe 30 ProFund |
| 56 | | Falling U.S. Dollar ProFund |
| 57 | | Financials UltraSector ProFund |
| 61 | | Health Care UltraSector ProFund |
| 64 | | Industrials UltraSector ProFund |
| 68 | | Internet UltraSector ProFund |
| 70 | | Large-Cap Growth ProFund |
| 74 | | Large-Cap Value ProFund |
| 80 | | Materials UltraSector ProFund |
| 82 | | Mid-Cap Growth ProFund |
| 86 | | Mid-Cap ProFund |
| 92 | | Mid-Cap Value ProFund |
| 97 | | Nasdaq-100 ProFund |
| 100 | | Oil & Gas Equipment & Services UltraSector ProFund |
| 102 | | Pharmaceuticals UltraSector ProFund |
| 104 | | Precious Metals UltraSector ProFund |
| 106 | | Real Estate UltraSector ProFund |
| 109 | | Rising Rates Opportunity ProFund |
| 110 | | Rising Rates Opportunity 10 ProFund |
| 111 | | Rising U.S. Dollar ProFund |
| 112 | | Semiconductor UltraSector ProFund |
| 114 | | Short Bitcoin Strategy ProFund |
| 115 | | Short Energy ProFund |
| 116 | | Short Nasdaq-100 ProFund |
| 117 | | Short Precious Metals ProFund |
| 118 | | Short Real Estate ProFund |
| 119 | | Short Small-Cap ProFund |
| 120 | | Small-Cap Growth ProFund |
| 125 | | Small-Cap ProFund |
| 128 | | Small-Cap Value ProFund |
| 135 | | Technology UltraSector ProFund |
| 138 | | Telecommunications UltraSector 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 | | U.S. Government Plus ProFund |
| 176 | | Utilities UltraSector ProFund |
| 179 | | Statements of Assets and Liabilities |
| 195 | | Statements of Operations |
| 211 | | Statements of Changes in Net Assets |
| 241 | | Consolidated Statement of Cash Flows |
| 243 | | Financial Highlights |
| 279 | | Notes to Financial Statements |
| 321 | | Board Approval of Investment Advisory Agreement |
| 326 | | Liquidity Risk Management Program |
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Message from the Chairman
Dear Shareholder:
During these times of geopolitical and economic uncertainty, I want to reaffirm ProFunds' commitment to providing you, our investors, with innovative products and services to help you meet your investment objectives. The following is our ProFunds Semiannual report to shareholders for the six-month period ended January 31, 2023.
Interest Rates Increase as Policymakers Fight Inflation
Concerns about persistently high inflation and looming recession dominated economic policymaking in the second half of 2022. In the United States, the Federal Reserve continued its aggressive effort to tighten monetary policy, bringing its short-term rate to a target range of between 4.25 and 4.5%. The Fed's initial series of rate hikes, which began in the first half of 2022, occurred at the fastest pace since the 1980s and pushed borrowing costs to their highest levels since 2008. Federal Reserve Chairman Jerome Powell indicated in November, however, that the pace of rate hikes would soon begin to moderate, and in December, the Fed increased rates by 50 basis points instead of 75 basis points, as it had at its previous four meetings.
The slowing pace of rate increases in the U.S. helped some markets recoup their losses from the broad-based sell-off in the first half of 2022, but performance was mixed overall during the reporting period. The S&P 500 was roughly flat, declining by 0.4%, while the Dow Jones Industrial Average climbed 4.9%. The tech-heavy Nasdaq-100 Index, which is typically more sensitive to rising rates than the broader market, lost 6.1%. Among the Dow Jones U.S. Industry Indices sectors, seven saw gains during the period. The best performers were oil & gas (16.4%) and basic materials (13.9%), while consumer goods (-7.9%) and technology (-7.3%) saw the largest declines. In contrast to the first half of 2022, when most sectors did poorly, sector performance varied substantially over the reporting period.
Despite the Fed's efforts to cool the economy and resulting market volatility, the U.S. economy has shown signs of resilience. Following modest contractions in the first half of the year, U.S. GDP grew by 3.2% and 2.9% in the third and fourth quarters of 2022, and the unemployment rate decreased to 3.4% in January 2023, the lowest level in 20 years.
International Equity Markets Posted Strong Results Moving into 2023
While rising interest rates around the world heavily influenced international markets, performance relative to U.S. markets was also aided toward the end of the year by the U.S. dollar declining beginning in late September. The result was broadly positive performance in developed and emerging markets over the reporting period. The MSCI EAFE Index, which represents the performance of developed market equities outside of the United States and Canada, climbed 9.5%, the MSCI Europe Index increased by 11%, and the Nikkei traded up 1.8%. The BNY Mellon
Emerging Markets Index climbed 11.5%, and in China, where the economy began to reopen after strict lockdown measures were removed, the BNY China Select ADR Index ended the period up 18.4%.
Fixed Income Struggles Amid Rising Rates
The Fed's effort to tame inflation generally led to higher U.S. Treasury yields and lower prices during the period. The Bloomberg Barclays Aggregate Bond Index fell 2.4%. High-yield corporate bonds were roughly flat, returning just 0.8% according to the Markit iBoxx $ Liquid High Yield. And long-dated U.S. Treasurys, as represented by the Ryan Labs 10-Year and 30-Year Indexes, dropped by 5% and 9.3%, respectively.
Cryptocurrencies Attempt to Recover from a Difficult Year
Cryptocurrencies ended the reporting period down roughly 50% from their positions at the beginning of 2022, and they were even further off of their late 2021 highs. The collapse of the crypto exchange FTX in November, along with several other bankruptcies during the period, continued to send shockwaves throughout the industry, endangering other crypto firms with exposure to FTX and raising questions about the lack of regulation in the cryptocurrency marketplace. Cryptocurrencies rallied somewhat toward the end of the period, however.
ProFunds Investors See Opportunities in Targeted Exposures
ProFunds mutual funds offer many of the advantages of index funds, such as the transparency of the investment process, diversified market exposure and high daily correlation to benchmark indexes. With the broader market moving up and down within a tight range over the past six months, it was investors with more targeted exposures to specific sectors who saw opportunities for gains. For example, leveraged exposure to sectors such as energy and materials, as well as inverse strategies designed for rising-rate environments, saw strong performance. Both long and short bitcoin-linked exposures also provided opportunities for return at different times during the reporting period.
We thank you for the trust and confidence that you have placed in us by choosing ProFunds. In uncertain times, our extensive lineup of mutual funds provides an array of opportunities for short and leveraged market exposure across diverse market segments, enabling investors to choose investments that most effectively align with their market views. We appreciate the opportunity to continue serving your investment needs.
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)
Access Flex Bear High Yield ProFund
Investment Objective: The Access Flex Bear High Yield ProFund seeks to provide investment results that correspond generally to the inverse (-1x) of the total return of the high yield market, consistent with maintaining reasonable liquidity.
Market Exposure
| Investment Type | | % of Net Assets | |
| Credit Default Swap Agreements | | | (98 | )% |
| Futures Contracts | | | (84 | )% |
“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 Access Flex Bear High Yield ProFund primarily invests in non-equity securities, which may include: credit default swap agreements, futures contracts, repurchase agreements, U.S. Government and money market securities.
Industry Exposure
| | | % of Market
Exposure
(CDS) | |
| Consumer Cyclical | | | (28 | )% |
| Consumer Non-Cyclical | | | (15 | )% |
| Communications | | | (14 | )% |
| Financial | | | (10 | )% |
| Energy | | | (9 | )% |
| Industrials | | | (9 | )% |
| Basic Materials | | | (7 | )% |
| Technology | | | (4 | )% |
| Utilities | | | (4 | )% |
Access Flex High Yield ProFund
Investment Objective: The Access Flex High Yield ProFund seeks to provide investment results that correspond generally to the total return of the high yield market, consistent with maintaining reasonable liquidity.
Market Exposure
| Investment Type | | % of Net Assets | |
| Credit Default Swap Agreements | | | 89 | % |
| Futures Contracts | | | 9 | % |
| U.S. Treasury Obligation | | | 60 | % |
“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 Access Flex High Yield ProFund primarily invests in non-equity securities, which may include: credit default swap agreements, futures contracts, repurchase agreements, U.S. Government and money market securities.
Industry Exposure
| | | % of Market
Exposure
(CDS) | |
| Consumer Cyclical | | | 28 | % |
| Consumer Non-Cyclical | | | 15 | % |
| Communications | | | 14 | % |
| Financial | | | 10 | % |
| Energy | | | 9 | % |
| Industrials | | | 9 | % |
| Basic Materials | | | 7 | % |
| Technology | | | 4 | % |
| Utilities | | | 4 | % |
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 | | | 77 | % |
| Swap Agreements | | | 72 | % |
| 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. | | | 21.2 | % |
| Bank of America Corp. | | | 12.8 | % |
| Wells Fargo & Co. | | | 9.2 | % |
| Citigroup, Inc. | | | 5.2 | % |
| U.S. Bancorp | | | 3.5 | % |
Dow Jones U.S. BanksSM Index – Composition
| | | % of Index | |
| Diversified Banks | | | 68 | % |
| Regional Banks | | | 32 | % |
Allocation of Portfolio Holdings and Index Composition (unaudited) :: 5
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® for a single day, not for any other period. 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 | | | (15 | )% |
| Swap Agreements | | | (85 | )% |
| 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 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 | | | 25 | % |
| Health Care | | | 15 | % |
| Financials | | | 12 | % |
| Consumer Discretionary | | | 11 | % |
| Industrials | | | 8 | % |
| Communication Services | | | 8 | % |
| Consumer Staples | | | 7 | % |
| Energy | | | 5 | % |
| Utilities | | | 3 | % |
| Materials | | | 3 | % |
| Real Estate | | | 3 | % |
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 for a single day, not for any other period. 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 | | | 81 | % |
| Swap Agreements | | | 69 | % |
| 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 or collateral for securities loaned.
Largest Equity Holdings
| Company | | % of Net Assets | |
| AbbVie, Inc. | | | 15.0 | % |
| Danaher Corp. | | | 10.0 | % |
| Amgen, Inc. | | | 7.8 | % |
| Gilead Sciences, Inc. | | | 6.1 | % |
| Vertex Pharmaceuticals, Inc. | | | 4.8 | % |
Dow Jones U.S. Biotechnology IndexSM – Composition
| | | % of Index | |
| Biotechnology | | | 70 | % |
| Life Sciences Tools & Services | | | 30 | % |
Bitcoin Strategy ProFund
Investment Objective: The Bitcoin Strategy ProFund seeks to provide capital appreciation by investing all or substantially all of its assets through managed exposure to bitcoin futures contracts. The Fund does not invest directly in bitcoin.
Market Exposure
| Investment Type | | % of Net Assets | |
| Futures 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 Bitcoin Strategy ProFund primarily invests in non-equity securities, which may include: futures contracts, Canadian Exchange Traded Funds, repurchase agreements and reverse repurchase agreements, and U.S. Government securities.
6 :: Allocation of Portfolio Holdings and Index Composition (unaudited)
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 | | | 70 | % |
| Futures Contracts | | | 9 | % |
| Swap Agreements | | | 21 | % |
| 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 or collateral for securities loaned.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Apple, Inc. | | | 4.5 | % |
| Microsoft Corp. | | | 3.8 | % |
| Alphabet, Inc. | | | 2.3 | % |
| Amazon.com, Inc. | | | 1.9 | % |
| Berkshire Hathaway, Inc. | | | 1.2 | % |
S&P 500® – Composition
| | | % of Index | |
| Information Technology | | | 25 | % |
| Health Care | | | 15 | % |
| Financials | | | 12 | % |
| Consumer Discretionary | | | 11 | % |
| Industrials | | | 8 | % |
| Communication Services | | | 8 | % |
| Consumer Staples | | | 7 | % |
| Energy | | | 5 | % |
| Utilities | | | 3 | % |
| Materials | | | 3 | % |
| Real Estate | | | 3 | % |
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 for a single day, not for any other period. 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 | % |
| Swap Agreements | | | 80 | % |
| 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 | |
| Alphabet, Inc. | | | 15.7 | % |
| Meta Platforms, Inc. | | | 11.7 | % |
| Verizon Communications, Inc. | | | 6.1 | % |
| The Walt Disney Co. | | | 3.4 | % |
| Netflix, Inc. | | | 3.3 | % |
S&P Communication Services Select SectorSM Index – Composition
| | | % of Index | |
| Interactive Media & Services | | | 41 | % |
| Entertainment | | | 24 | % |
| Media | | | 17 | % |
| Diversified Telecommunication Services | | | 14 | % |
| Wireless Telecommunication Services | | | 4 | % |
Consumer Discretionary UltraSector ProFund
Investment Objective: The Consumer Discretionary UltraSector ProFund (previously 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 for a single day, not for any other period. 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 or collateral for securities loaned.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Amazon.com, Inc. | | | 15.9 | % |
| The Home Depot, Inc. | | | 5.8 | % |
| Costco Wholesale Corp. | | | 3.9 | % |
| Walmart, Inc. | | | 3.5 | % |
| The Walt Disney Co. | | | 3.4 | % |
Dow Jones U.S. Consumer ServicesSM Index – Composition
| | | % of Index | |
| Retailing | | | 44 | % |
| Consumer Services | | | 20 | % |
| Media & Entertainment | | | 18 | % |
| Food & Staples Retailing | | | 12 | % |
| Transportation | | | 4 | % |
| Health Care Equipment & Services | | | 1 | % |
| Commercial & Professional Services | | | 1 | % |
Allocation of Portfolio Holdings and Index Composition (unaudited) :: 7
Consumer Staples UltraSector ProFund
Investment Objective: The Consumer Staples UltraSector ProFund (previously 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 the Dow Jones U.S. Consumer GoodsSM Index for a single day, not for any other period. 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 | % |
| Swap Agreements | | | 79 | % |
| 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 or collateral for securities loaned.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Tesla, Inc. | | | 10.4 | % |
| The Procter & Gamble Co. | | | 7.5 | % |
| The Coca-Cola Co. | | | 5.3 | % |
| PepsiCo, Inc. | | | 5.3 | % |
| Philip Morris International, Inc. | | | 3.6 | % |
Dow Jones U.S. Consumer GoodsSM Index – Composition
| | | % of Index | |
| Food, Beverage & Tobacco | | | 41 | % |
| Automobiles & Components | | | 21 | % |
| Household & Personal Products | | | 18 | % |
| Consumer Durables & Apparel | | | 14 | % |
| Media & Entertainment | | | 4 | % |
| Retailing | | | 1 | % |
| Food & Staples Retailing | | | 1 | % |
Energy UltraSector ProFund
Investment Objective: The Energy UltraSector ProFund (previously 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 for a single day, not for any other period. 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 or collateral for securities loaned.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Exxon Mobil Corp. | | | 19.6 | % |
| Chevron Corp. | | | 12.7 | % |
| ConocoPhillips | | | 6.2 | % |
| Schlumberger, Ltd. | | | 3.3 | % |
| EOG Resources, Inc. | | | 3.2 | % |
Dow Jones U.S. Oil & GasSM Index – Composition
| | | % of Index | |
| Oil, Gas & Consumable Fuels | | | 90 | % |
| Energy Equipment & Services | | | 9 | % |
| Semiconductors & Semiconductor Equipment | | | 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 or collateral for securities loaned.
Largest Equity Holdings
| Company | | % of Net Assets | |
| ASML Holding N.V. | | | 6.2 | % |
| NOVO Nordisk A/S | | | 6.0 | % |
| Shell PLC | | | 5.6 | % |
| HSBC Holdings PLC | | | 4.8 | % |
| TotalEnergies SE | | | 4.7 | % |
ProFunds Europe 30® Index – Composition
| Industry Breakdown | | % of Index | |
| Health Care | | | 21 | % |
| Energy | | | 20 | % |
| Information Technology | | | 15 | % |
| Consumer Staples | | | 11 | % |
| Financials | | | 11 | % |
| Materials | | | 10 | % |
| Industrials | | | 6 | % |
| Utilities | | | 3 | % |
| Communication Services | | | 3 | % |
| Country Composition | | | |
| United Kingdom | | | 43 | % |
| Netherlands | | | 14 | % |
| Denmark | | | 8 | % |
| France | | | 7 | % |
| Germany | | | 6 | % |
| Other | | | 22 | % |
8 :: Allocation of Portfolio Holdings and Index Composition (unaudited)
Falling U.S. Dollar ProFund
Investment Objective: The Falling U.S. Dollar ProFund seeks daily investment results, before fees and expenses, that correspond to the performance of the basket of currencies included in the U.S. Dollar Index.
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 for a single day, not for any other period. 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 | | | 72 | % |
| Total Exposure | | | 147 | % |
"Market Exposure" includes the value of total investments (including the contract value of any derivatives) and excludes any instruments used for cash management or collateral for securities loaned.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Berkshire Hathaway, Inc. | | | 6.4 | % |
| JPMorgan Chase & Co. | | | 4.7 | % |
| Visa, Inc. | | | 4.3 | % |
| Mastercard, Inc. | | | 3.6 | % |
| Bank of America Corp. | | | 2.8 | % |
Dow Jones U.S. FinancialsSM Index – Composition
| | | % of Index | |
| Diversified Financials | | | 34 | % |
| Banks | | | 23 | % |
| Real Estate | | | 19 | % |
| Insurance | | | 14 | % |
| Software & Services | | | 10 | % |
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 for a single day, not for any other period. 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 | | | 74 | % |
| 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 or collateral for securities loaned.
Largest Equity Holdings
| Company | | % of Net Assets | |
| UnitedHealth Group, Inc. | | | 6.5 | % |
| Johnson & Johnson | | | 6.0 | % |
| Merck & Co., Inc. | | | 3.8 | % |
| Eli Lilly & Co. | | | 3.8 | % |
| AbbVie, Inc. | | | 3.6 | % |
Dow Jones U.S. Health CareSM Index – Composition
| | | % of Index | |
| Pharmaceuticals | | | 28 | % |
| Health Care Providers & Services | | | 22 | % |
| Health Care Equipment & Supplies | | | 19 | % |
| Biotechnology | | | 18 | % |
| Life Sciences Tools & Services | | | 13 | % |
Allocation of Portfolio Holdings and Index Composition (unaudited) :: 9
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 for a single day, not for any other period. 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 or collateral for securities loaned.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Accenture PLC | | | 3.1 | % |
| Raytheon Technologies Corp. | | | 2.6 | % |
| Honeywell International, Inc. | | | 2.5 | % |
| United Parcel Service, Inc. | | | 2.4 | % |
| Caterpillar, Inc. | | | 2.3 | % |
Dow Jones U.S. IndustrialsSM Index – Composition
| | | % of Index | |
| Capital Goods | | | 53 | % |
| Software & Services | | | 16 | % |
| Transportation | | | 12 | % |
| Commercial & Professional Services | | | 7 | % |
| Technology Hardware & Equipment | | | 6 | % |
| Materials | | | 6 | % |
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 for a single day, not for any other period. 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 | |
| Alphabet, Inc. | | | 7.0 | % |
| Amazon.com, Inc. | | | 6.9 | % |
| Meta Platforms, Inc. | | | 5.4 | % |
| Salesforce, Inc. | | | 4.0 | % |
| Cisco Systems, Inc. | | | 3.7 | % |
Dow Jones Internet CompositeSM Index – Composition
| | | % of Index | |
| Interactive Media & Services | | | 24 | % |
| Software | | | 21 | % |
| Internet & Direct Marketing Retail | | | 15 | % |
| IT Services | | | 14 | % |
| Communications Equipment | | | 11 | % |
| Hotels, Restaurants & Leisure | | | 5 | % |
| Entertainment | | | 5 | % |
| Health Care Technology | | | 3 | % |
| Real Estate Management & Development | | | 2 | % |
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 | | | 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.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Apple, Inc. | | | 12.3 | % |
| Alphabet, Inc. | | | 6.4 | % |
| Microsoft Corp. | | | 6.1 | % |
| NVIDIA Corp. | | | 2.8 | % |
| Exxon Mobil Corp. | | | 2.7 | % |
S&P 500® Growth Index – Composition
| | | % of Index | |
| Information Technology | | | 35 | % |
| Health Care | | | 20 | % |
| Consumer Discretionary | | | 10 | % |
| Energy | | | 8 | % |
| Communication Services | | | 7 | % |
| Consumer Staples | | | 7 | % |
| Industrials | | | 5 | % |
| Financials | | | 4 | % |
| Materials | | | 2 | % |
| Real Estate | | | 1 | % |
| Utilities | | | 1 | % |
10 :: Allocation of Portfolio Holdings and Index Composition (unaudited)
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 | | | 99 | % |
| 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 or collateral for securities loaned.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Microsoft Corp. | | | 4.7 | % |
| Berkshire Hathaway, Inc. | | | 3.4 | % |
| Amazon.com, Inc. | | | 3.0 | % |
| JPMorgan Chase & Co. | | | 2.5 | % |
| Meta Platforms, Inc. | | | 2.0 | % |
S&P 500® Value Index – Composition
| | | % of Index | |
| Financials | | | 19 | % |
| Information Technology | | | 17 | % |
| Industrials | | | 12 | % |
| Consumer Discretionary | | | 11 | % |
| Health Care | | | 9 | % |
| Communication Services | | | 9 | % |
| Consumer Staples | | | 7 | % |
| Utilities | | | 6 | % |
| Real Estate | | | 5 | % |
| Materials | | | 3 | % |
| Energy | | | 2 | % |
Materials UltraSector ProFund
Investment Objective: The Materials UltraSector ProFund (previously 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 for a single day, not for any other period. 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 | | | 77 | % |
| 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 or collateral for securities loaned.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Linde PLC | | | 13.5 | % |
| Air Products & Chemicals, Inc. | | | 5.9 | % |
| Freeport-McMoRan, Inc. | | | 5.3 | % |
| Corteva, Inc. | | | 3.8 | % |
| Nucor Corp. | | | 3.6 | % |
Dow Jones U.S. Basic MaterialsSM Index – Composition
| | | % of Index | |
| Chemicals | | | 74 | % |
| Metals & Mining | | | 26 | % |
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 | | | 99 | % |
| 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 | |
| Fair Isaac Corp. | | | 1.5 | % |
| Reliance Steel & Aluminum Co. | | | 1.2 | % |
| Axon Enterprise, Inc. | | | 1.2 | % |
| Carlisle Cos., Inc. | | | 1.2 | % |
| Hubbell, Inc. | | | 1.1 | % |
S&P MidCap 400® Growth Index – Composition
| | | % of Index | |
| Industrials | | | 22 | % |
| Information Technology | | | 13 | % |
| Consumer Discretionary | | | 12 | % |
| Health Care | | | 12 | % |
| Financials | | | 11 | % |
| Materials | | | 8 | % |
| Energy | | | 7 | % |
| Real Estate | | | 5 | % |
| Consumer Staples | | | 4 | % |
| Utilities | | | 4 | % |
| Communication Services | | | 2 | % |
Allocation of Portfolio Holdings and Index Composition (unaudited) :: 11
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 | | | 80 | % |
| 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 or collateral for securities loaned.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Fair Isaac Corp. | | | 0.6 | % |
| Reliance Steel & Aluminum Co. | | | 0.5 | % |
| First Horizon Corp. | | | 0.5 | % |
| Axon Enterprise, Inc. | | | 0.5 | % |
| Carlisle Cos., Inc. | | | 0.5 | % |
S&P MidCap 400® – Composition
| | | % of Index | |
| Industrials | | | 19 | % |
| Financials | | | 15 | % |
| Consumer Discretionary | | | 15 | % |
| Information Technology | | | 12 | % |
| Health Care | | | 10 | % |
| Real Estate | | | 8 | % |
| Materials | | | 7 | % |
| Consumer Staples | | | 4 | % |
| Utilities | | | 4 | % |
| Energy | | | 4 | % |
| Communication Services | | | 2 | % |
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 or collateral for securities loaned.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Cleveland-Cliffs, Inc. | | | 1.0 | % |
| Jabil, Inc. | | | 0.9 | % |
| Reinsurance Group of America, Inc. | | | 0.9 | % |
| Regal Rexnord Corp. | | | 0.8 | % |
| Alcoa Corp. | | | 0.8 | % |
S&P MidCap 400® Value Index – Composition
| | | % of Index | |
| Financials | | | 18 | % |
| Industrials | | | 18 | % |
| Consumer Discretionary | | | 17 | % |
| Real Estate | | | 12 | % |
| Information Technology | | | 12 | % |
| Health Care | | | 7 | % |
| Materials | | | 5 | % |
| Utilities | | | 4 | % |
| Consumer Staples | | | 4 | % |
| Communication Services | | | 2 | % |
| Energy | | | 1 | % |
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 | | | 33 | % |
| Futures Contracts | | | 4 | % |
| Swap Agreements | | | 63 | % |
| 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 or collateral for securities loaned.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Apple, Inc. | | | 3.9 | % |
| Microsoft Corp. | | | 3.9 | % |
| Alphabet, Inc. | | | 2.6 | % |
| Amazon.com, Inc. | | | 2.2 | % |
| NVIDIA Corp. | | | 1.3 | % |
Nasdaq-100® Index – Composition
| | | % of Index | |
| Information Technology | | | 49 | % |
| Communication Services | | | 17 | % |
| Consumer Discretionary | | | 16 | % |
| Health Care | | | 7 | % |
| Consumer Staples | | | 6 | % |
| Industrials | | | 4 | % |
| Utilities | | | 1 | % |
12 :: Allocation of Portfolio Holdings and Index Composition (unaudited)
Oil & Gas Equipment & Services UltraSector ProFund
Investment Objective: The Oil & Gas Equipment & Services UltraSector ProFund (previously 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 for a single day, not for any other period. 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 | |
| Schlumberger, Ltd. | | | 17.7 | % |
| Halliburton Co. | | | 16.9 | % |
| TechnipFMC PLC | | | 3.8 | % |
| NOV, Inc. | | | 3.7 | % |
| ChampionX Corp. | | | 3.6 | % |
Dow Jones U.S. Select Oil Equipment & ServicesSM Index – Composition
| | | % of Index | |
| Oil & Gas Equipment & Services | | | 80 | % |
| Oil & Gas Drilling | | | 20 | % |
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. PharmaceuticalsSM Index for a single day, not for any other period. 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 | | | 67 | % |
| Swap Agreements | | | 83 | % |
| 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 or collateral for securities loaned.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Johnson & Johnson | | | 13.9 | % |
| Eli Lilly & Co. | | | 11.8 | % |
| Viatris, Inc. | | | 3.4 | % |
| Zoetis, Inc. | | | 3.3 | % |
| Merck & Co., Inc. | | | 2.9 | % |
Dow Jones U.S. Select PharmaceuticalsSM Index – Composition
| | | % of Index | |
| Pharmaceuticals | | | 96 | % |
| Biotechnology | | | 4 | % |
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 for a single day, not for any other period. 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 or collateral for securities loaned.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Newmont Corp. | | | 13.4 | % |
| Barrick Gold Corp. | | | 11.0 | % |
| Franco-Nevada Corp. | | | 9.0 | % |
| Agnico Eagle Mines, Ltd. | | | 8.2 | % |
| Wheaton Precious Metals Corp. | | | 6.6 | % |
Dow Jones Precious MetalsSM Index – Composition
| | | % of Index | |
| Gold | | | 91 | % |
| Silver | | | 5 | % |
| Precious Metals & Minerals | | | 4 | % |
Allocation of Portfolio Holdings and Index Composition (unaudited) :: 13
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 for a single day, not for any other period. 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 | | | 70 | % |
| 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 | |
| Prologis, Inc. | | | 7.3 | % |
| American Tower Corp. | | | 6.3 | % |
| Equinix, Inc. | | | 4.2 | % |
| Crown Castle, Inc. | | | 3.9 | % |
| Public Storage | | | 2.9 | % |
Dow Jones U.S. Real EstateSM Index – Composition
| | | % of Index | |
| Equity Real Estate Investment Trusts (REITs) | | | 91 | % |
| Real Estate Management & Development | | | 4 | % |
| Mortgage Real Estate Investment Trusts (REITs) | | | 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 for a single day, not for any other period. 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 | | | (125 | )% |
| Total Exposure | | | (125 | )% |
"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 for a single day, not for any other period. 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.
14 :: Allocation of Portfolio Holdings and Index Composition (unaudited)
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 for a single day, not for any other period. 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 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. SemiconductorsSM Index for a single day, not for any other period. 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 or collateral for securities loaned.
Largest Equity Holdings
| Company | | % of Net Assets | |
| NVIDIA Corp. | | | 18.5 | % |
| Broadcom, Inc. | | | 9.0 | % |
| Texas Instruments, Inc. | | | 6.1 | % |
| Qualcomm, Inc. | | | 5.7 | % |
| Advanced Micro Devices, Inc. | | | 4.6 | % |
Dow Jones U.S. SemiconductorsSM Index – Composition
| | | % of Index | |
| Semiconductors & Semiconductor Equipment | | | 100 | % |
Short Bitcoin Strategy ProFund
Investment Objective: The Short Bitcoin Strategy ProFund seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the S&P CME Bitcoin Futures Index for a single day, not for any other period. The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day. The Fund does not invest directly in bitcoin nor does it directly short bitcoin.
Market Exposure
| Investment Type | | % of Net Assets | |
| Futures Contracts | | | (99 | )% |
| 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.
Holdings
The Short Bitcoin Strategy ProFund primarily invests in non-equity securities, which may include: futures contracts, Canadian Exchange Traded Funds, repurchase agreements and reverse repurchase agreements, and U.S. Government securities.
Allocation of Portfolio Holdings and Index Composition (unaudited) :: 15
Short Energy ProFund
Investment Objective: The Short Energy ProFund (previously 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 for a single day, not for any other period. 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 | | | (99 | )% |
| 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.
Holdings
The Short Energy 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 & GasSM Index – Composition
| | | % of Index | |
| Oil, Gas & Consumable Fuels | | | 90 | % |
| Energy Equipment & Services | | | 9 | % |
| Semiconductors & Semiconductor Equipment | | | 1 | % |
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 for a single day, not for any other period. 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 | | | (10 | )% |
| Swap Agreements | | | (90 | )% |
| 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 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 | | | 49 | % |
| Communication Services | | | 17 | % |
| Consumer Discretionary | | | 16 | % |
| Health Care | | | 7 | % |
| Consumer Staples | | | 6 | % |
| Industrials | | | 4 | % |
| 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 for a single day, not for any other period. 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 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 MetalsSM Index – Composition
| | | % of Index | |
| Gold | | | 91 | % |
| Silver | | | 5 | % |
| Precious Metals & Minerals | | | 4 | % |
16 :: Allocation of Portfolio Holdings and Index Composition (unaudited)
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 for a single day, not for any other period. 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 EstateSM Index – Composition
| | | % of Index | |
| Equity Real Estate Investment Trusts (REITs) | | | 91 | % |
| Real Estate Management & Development | | | 4 | % |
| Mortgage Real Estate Investment Trusts (REITs) | | | 3 | % |
| Professional Services | | | 2 | % |
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 for a single day, not for any other period. 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 | | | (10 | )% |
| Swap Agreements | | | (90 | )% |
| 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 | |
| Financials | | | 17 | % |
| Health Care | | | 16 | % |
| Industrials | | | 16 | % |
| Information Technology | | | 13 | % |
| Consumer Discretionary | | | 11 | % |
| Energy | | | 7 | % |
| Real Estate | | | 7 | % |
| Materials | | | 4 | % |
| Consumer Staples | | | 3 | % |
| Utilities | | | 3 | % |
| Communication Services | | | 3 | % |
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 or collateral for securities loaned.
Largest Equity Holdings
| Company | | % of Net Assets | |
| UFP Industries, Inc. | | | 1.2 | % |
| Applied Industrial Technologies, Inc. | | | 1.1 | % |
| The Ensign Group, Inc. | | | 1.1 | % |
| SPS Commerce, Inc. | | | 1.0 | % |
| Fabrinet | | | 1.0 | % |
S&P SmallCap 600® Growth Index – Composition
| | | % of Index | |
| Industrials | | | 18 | % |
| Information Technology | | | 18 | % |
| Financials | | | 16 | % |
| Health Care | | | 13 | % |
| Consumer Discretionary | | | 9 | % |
| Materials | | | 6 | % |
| Consumer Staples | | | 6 | % |
| Energy | | | 5 | % |
| Real Estate | | | 4 | % |
| Utilities | | | 3 | % |
| Communication Services | | | 2 | % |
Allocation of Portfolio Holdings and Index Composition (unaudited) :: 17
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 | | | 61 | % |
| Swap Agreements | | | 39 | % |
| 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 or collateral for securities loaned.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Iridium Communications, Inc. | | | 0.2 | % |
| Matador Resources Co. | | | 0.2 | % |
| Crocs, Inc. | | | 0.2 | % |
| Saia, Inc. | | | 0.2 | % |
| EMCOR Group, Inc. | | | 0.2 | % |
Russell 2000® Index – Composition
| | | % of Index | |
| Financials | | | 17 | % |
| Health Care | | | 16 | % |
| Industrials | | | 16 | % |
| Information Technology | | | 13 | % |
| Consumer Discretionary | | | 11 | % |
| Energy | | | 7 | % |
| Real Estate | | | 7 | % |
| Materials | | | 4 | % |
| Consumer Staples | | | 3 | % |
| Utilities | | | 3 | % |
| Communication Services | | | 3 | % |
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 | | | 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 or collateral for securities loaned.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Meritage Homes Corp. | | | 0.8 | % |
| Essential Properties Realty Trust, Inc. | | | 0.8 | % |
| John Bean Technologies Corp. | | | 0.8 | % |
| Signet Jewelers, Ltd. | | | 0.8 | % |
| Insight Enterprises, Inc. | | | 0.7 | % |
S&P SmallCap 600® Value Index – Composition
| | | % of Index | |
| Financials | | | 18 | % |
| Consumer Discretionary | | | 18 | % |
| Industrials | | | 16 | % |
| Real Estate | | | 12 | % |
| Information Technology | | | 9 | % |
| Health Care | | | 8 | % |
| Materials | | | 5 | % |
| Consumer Staples | | | 5 | % |
| Energy | | | 4 | % |
| Communication Services | | | 3 | % |
| 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 for a single day, not for any other period. 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 or collateral for securities loaned.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Apple, Inc. | | | 17.1 | % |
| Microsoft Corp. | | | 14.6 | % |
| Alphabet, Inc. | | | 8.9 | % |
| NVIDIA Corp. | | | 3.8 | % |
| Meta Platforms, Inc. | | | 2.6 | % |
Dow Jones U.S. TechnologySM Index – Composition
| | | % of Index | |
| Software & Services | | | 38 | % |
| Technology Hardware & Equipment | | | 26 | % |
| Semiconductors & Semiconductor Equipment | | | 20 | % |
| Media & Entertainment | | | 15 | % |
| Retailing | | | 1 | % |
18 :: Allocation of Portfolio Holdings and Index Composition (unaudited)
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. Telecommunications Index.
| † | The Telecommunications UltraSector ProFund liquidated on February 7, 2023 and holds only cash and segregated cash balances to cover remaining expenses payable as of the reporting date. |
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® for a single day, not for any other period. 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 | | | (6 | )% |
| Swap Agreements | | | (194 | )% |
| 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 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 | | | 25 | % |
| Health Care | | | 15 | % |
| Financials | | | 12 | % |
| Consumer Discretionary | | | 11 | % |
| Industrials | | | 8 | % |
| Communication Services | | | 8 | % |
| Consumer Staples | | | 7 | % |
| Energy | | | 5 | % |
| Utilities | | | 3 | % |
| Materials | | | 3 | % |
| Real Estate | | | 3 | % |
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® for a single day, not for any other period. 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 | | | 68 | % |
| Futures Contracts | | | 4 | % |
| Swap Agreements | | | 128 | % |
| 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 or collateral for securities loaned.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Apple, Inc. | | | 4.3 | % |
| Microsoft Corp. | | | 3.7 | % |
| Alphabet, Inc. | | | 2.2 | % |
| Amazon.com, Inc. | | | 1.8 | % |
| Berkshire Hathaway, Inc. | | | 1.1 | % |
S&P 500® – Composition
| | | % of Index | |
| Information Technology | | | 25 | % |
| Health Care | | | 15 | % |
| Financials | | | 12 | % |
| Consumer Discretionary | | | 11 | % |
| Industrials | | | 8 | % |
| Communication Services | | | 8 | % |
| Consumer Staples | | | 7 | % |
| Energy | | | 5 | % |
| Utilities | | | 3 | % |
| Materials | | | 3 | % |
| Real Estate | | | 3 | % |
Allocation of Portfolio Holdings and Index Composition (unaudited) :: 19
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 China Select ADR Index (USD) for a single day, not for any other period. 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 | | | 84 | % |
| Swap Agreements | | | 116 | % |
| 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 or collateral for securities loaned.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Alibaba Group Holding, Ltd. | | | 15.7 | % |
| JD.com, Inc. | | | 6.5 | % |
| NetEase, Inc. | | | 5.1 | % |
| Pinduoduo, Inc. | | | 5.1 | % |
| Baidu, Inc. | | | 4.7 | % |
S&P China Select ADR Index (USD) – Composition
| Industry Breakdown | | % of Index | |
| Consumer Discretionary | | | 56 | % |
| Communication Services | | | 24 | % |
| Health Care | | | 7 | % |
| Information Technology | | | 5 | % |
| Real Estate | | | 4 | % |
| Industrials | | | 4 | % |
| 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® for a single day, not for any other period. 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 | % |
| Futures Contracts | | | 18 | % |
| Swap Agreements | | | 104 | % |
| 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 | |
| UnitedHealth Group, Inc. | | | 7.5 | % |
| The Goldman Sachs Group, Inc. | | | 5.5 | % |
| The Home Depot, Inc. | | | 4.9 | % |
| McDonald's Corp. | | | 4.0 | % |
| Amgen, Inc. | | | 3.8 | % |
Dow Jones Industrial Average® – Composition
| | | % of Index | |
| Health Care | | | 21 | % |
| Information Technology | | | 19 | % |
| Financials | | | 17 | % |
| Industrials | | | 15 | % |
| Consumer Discretionary | | | 14 | % |
| Consumer Staples | | | 7 | % |
| Energy | | | 3 | % |
| Communication Services | | | 3 | % |
| 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 Emerging Markets 50 ADR Index (USD) for a single day, not for any other period. 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 | | | 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 or collateral for securities loaned.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Taiwan Semiconductor Manufacturing Co., Ltd. | | | 17.9 | % |
| Alibaba Group Holding, Ltd. | | | 12.2 | % |
| HDFC Bank, Ltd. | | | 5.3 | % |
| Vale S.A. | | | 4.0 | % |
| Infosys, Ltd. | | | 3.9 | % |
S&P Emerging 50 ADR Index (USD) – Composition
| Industry Breakdown | | % of Index | |
| Information Technology | | | 28 | % |
| Consumer Discretionary | | | 26 | % |
| Financials | | | 16 | % |
| Materials | | | 11 | % |
| Communication Services | | | 8 | % |
| Energy | | | 3 | % |
| Consumer Staples | | | 2 | % |
| Health Care | | | 2 | % |
| Industrials | | | 2 | % |
| Utilities | | | 1 | % |
| Real Estate | | | 1 | % |
| Country Composition | | | | |
| China | | | 33 | % |
| Taiwan | | | 24 | % |
| India | | | 16 | % |
| Brazil | | | 13 | % |
| Other | | | 14 | % |
20 :: Allocation of Portfolio Holdings and Index Composition (unaudited)
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 for a single day, not for any other period. 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 – Composition
| Industry Breakdown | | % of Index | |
| Financials | | | 19 | % |
| Industrials | | | 15 | % |
| Health Care | | | 13 | % |
| Consumer Discretionary | | | 12 | % |
| Consumer Staples | | | 10 | % |
| Information Technology | | | 8 | % |
| Materials | | | 8 | % |
| Energy | | | 5 | % |
| Communication Services | | | 4 | % |
| Utilities | | | 3 | % |
| Real Estate | | | 3 | % |
| Country Composition | | | | |
| Japan | | | 22 | % |
| United Kingdom | | | 15 | % |
| France | | | 12 | % |
| Switzerland | | | 10 | % |
| Other | | | 41 | % |
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 for a single day, not for any other period. 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 | | | 200 | % |
| Swap Agreements | | | 1 | % |
| 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 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 | |
| Industrials | | | 21 | % |
| Consumer Discretionary | | | 20 | % |
| Information Technology | | | 20 | % |
| Health Care | | | 12 | % |
| Communication Services | | | 11 | % |
| Consumer Staples | | | 6 | % |
| Materials | | | 6 | % |
| Financials | | | 3 | % |
| Real Estate | | | 1 | % |
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 Latin America 35 ADR Index (USD) for a single day, not for any other period. 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 | | | 111 | % |
| 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 or collateral for securities loaned.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Vale S.A. | | | 18.1 | % |
| Petroleo Brasileiro S.A. | | | 11.3 | % |
| Itau Unibanco Holding S.A. | | | 6.0 | % |
| America Movil S.A.B. de C.V. | | | 5.0 | % |
| Fomento Economico Mexicano S.A.B. de C.V. | | | 4.2 | % |
S&P Latin America 35 ADR Index (USD) – Composition
| Industry Breakdown | | % of Index | |
| Materials | | | 35 | % |
| Financials | | | 16 | % |
| Energy | | | 15 | % |
| Consumer Staples | | | 12 | % |
| Communication Services | | | 9 | % |
| Utilities | | | 7 | % |
| Industrials | | | 6 | % |
| Country Composition | | | | |
| Brazil | | | 68 | % |
| Mexico | | | 22 | % |
| Chile | | | 7 | % |
| Colombia | | | 2 | % |
| Peru | | | 1 | % |
Allocation of Portfolio Holdings and Index Composition (unaudited) :: 21
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® for a single day, not for any other period. 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 | | | 11 | % |
| Swap Agreements | | | 119 | % |
| 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 or collateral for securities loaned.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Fair Isaac Corp. | | | 0.5 | % |
| Reliance Steel & Aluminum Co. | | | 0.4 | % |
| First Horizon Corp. | | | 0.4 | % |
| Axon Enterprise, Inc. | | | 0.4 | % |
| Carlisle Cos., Inc. | | | 0.4 | % |
S&P MidCap 400® – Composition
| | | % of Index | |
| Industrials | | | 19 | % |
| Financials | | | 15 | % |
| Consumer Discretionary | | | 15 | % |
| Information Technology | | | 12 | % |
| Health Care | | | 10 | % |
| Real Estate | | | 8 | % |
| Materials | | | 7 | % |
| Consumer Staples | | | 4 | % |
| Utilities | | | 4 | % |
| Energy | | | 4 | % |
| Communication Services | | | 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 for a single day, not for any other period. 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 | | | 65 | % |
| Futures Contracts | | | 14 | % |
| Swap Agreements | | | 121 | % |
| 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 or collateral for securities loaned.
Largest Equity Holdings
| Company | | % of Net Assets | |
| Apple, Inc. | | | 7.7 | % |
| Microsoft Corp. | | | 7.7 | % |
| Alphabet, Inc. | | | 5.1 | % |
| Amazon.com, Inc. | | | 4.4 | % |
| NVIDIA Corp. | | | 2.6 | % |
Nasdaq-100® Index – Composition
| | | % of Index | |
| Information Technology | | | 49 | % |
| Communication Services | | | 17 | % |
| Consumer Discretionary | | | 16 | % |
| Health Care | | | 7 | % |
| Consumer Staples | | | 6 | % |
| Industrials | | | 4 | % |
| 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 China Select ADR Index (USD) for a single day, not for any other period. 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 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 China Select ADR Index (USD) – Composition
| Industry Breakdown | | % of Index | |
| Consumer Discretionary | | | 56 | % |
| Communication Services | | | 24 | % |
| Health Care | | | 7 | % |
| Information Technology | | | 5 | % |
| Real Estate | | | 4 | % |
| Industrials | | | 4 | % |
| Country Composition | | | |
| China | | | 100 | % |
22 :: Allocation of Portfolio Holdings and Index Composition (unaudited)
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® for a single day, not for any other period. 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 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 | |
| Health Care | | | 21 | % |
| Information Technology | | | 19 | % |
| Financials | | | 17 | % |
| Industrials | | | 15 | % |
| Consumer Discretionary | | | 14 | % |
| Consumer Staples | | | 7 | % |
| Energy | | | 3 | % |
| Communication Services | | | 3 | % |
| 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 Emerging Markets 50 ADR Index (USD) for a single day, not for any other period. 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 | | | (199 | )% |
| 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.
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 Emerging 50 ADR Index (USD) – Composition
| Industry Breakdown | | % of Index | |
| Information Technology | | | 28 | % |
| Consumer Discretionary | | | 26 | % |
| Financials | | | 16 | % |
| Materials | | | 11 | % |
| Communication Services | | | 8 | % |
| Energy | | | 3 | % |
| Consumer Staples | | | 2 | % |
| Health Care | | | 2 | % |
| Industrials | | | 2 | % |
| Utilities | | | 1 | % |
| Real Estate | | | 1 | % |
| Country Composition | | | | |
| China | | | 33 | % |
| Taiwan | | | 24 | % |
| India | | | 16 | % |
| Brazil | | | 13 | % |
| Other | | | 14 | % |
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 for a single day, not for any other period. 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 – Composition
| Industry Breakdown | | % of Index | |
| Financials | | | 19 | % |
| Industrials | | | 15 | % |
| Health Care | | | 13 | % |
| Consumer Discretionary | | | 12 | % |
| Consumer Staples | | | 10 | % |
| Information Technology | | | 8 | % |
| Materials | | | 8 | % |
| Energy | | | 5 | % |
| Communication Services | | | 4 | % |
| Utilities | | | 3 | % |
| Real Estate | | | 3 | % |
| Country Composition | | | | |
| Japan | | | 22 | % |
| United Kingdom | | | 15 | % |
| France | | | 12 | % |
| Switzerland | | | 10 | % |
| Other | | | 41 | % |
Allocation of Portfolio Holdings and Index Composition (unaudited) :: 23
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 for a single day, not for any other period. 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 | | | (134 | )% |
| Swap Agreements | | | (62 | )% |
| Total Exposure | | | (196 | )% |
"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 | |
| Industrials | | | 21 | % |
| Consumer Discretionary | | | 20 | % |
| Information Technology | | | 20 | % |
| Health Care | | | 12 | % |
| Communication Services | | | 11 | % |
| Consumer Staples | | | 6 | % |
| Materials | | | 6 | % |
| Financials | | | 3 | % |
| Real Estate | | | 1 | % |
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 Latin America 35 ADR Index (USD) for a single day, not for any other period. 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 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 Latin America 35 ADR Index (USD) – Cpmposition
| Industry Breakdown | | % of Index | |
| Materials | | | 35 | % |
| Financials | | | 16 | % |
| Energy | | | 15 | % |
| Consumer Staples | | | 12 | % |
| Communication Services | | | 9 | % |
| Utilities | | | 7 | % |
| Industrials | | | 6 | % |
| Country Composition | | | | |
| Brazil | | | 68 | % |
| Mexico | | | 22 | % |
| Chile | | | 7 | % |
| Colombia | | | 2 | % |
| 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® for a single day, not for any other period. 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 | | | (22 | )% |
| Swap Agreements | | | (179 | )% |
| 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 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 | |
| Industrials | | | 19 | % |
| Financials | | | 15 | % |
| Consumer Discretionary | | | 15 | % |
| Information Technology | | | 12 | % |
| Health Care | | | 10 | % |
| Real Estate | | | 8 | % |
| Materials | | | 7 | % |
| Consumer Staples | | | 4 | % |
| Utilities | | | 4 | % |
| Energy | | | 4 | % |
| Communication Services | | | 2 | % |
24 :: Allocation of Portfolio Holdings and Index Composition (unaudited)
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 for a single day, not for any other period. 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 | | | 49 | % |
| Communication Services | | | 17 | % |
| Consumer Discretionary | | | 16 | % |
| Health Care | | | 7 | % |
| Consumer Staples | | | 6 | % |
| Industrials | | | 4 | % |
| 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 for a single day, not for any other period. 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 | | | (198 | )% |
| Total Exposure | | | (198 | )% |
"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 | |
| Financials | | | 17 | % |
| Health Care | | | 16 | % |
| Industrials | | | 16 | % |
| Information Technology | | | 13 | % |
| Consumer Discretionary | | | 11 | % |
| Energy | | | 7 | % |
| Real Estate | | | 7 | % |
| Materials | | | 4 | % |
| Consumer Staples | | | 3 | % |
| Utilities | | | 3 | % |
| Communication Services | | | 3 | % |
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 for a single day, not for any other period. 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 | | | 66 | % |
| Futures Contracts | | | 11 | % |
| Swap Agreements | | | 124 | % |
| 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 | |
| Iridium Communications, Inc. | | | 0.2 | % |
| Matador Resources Co. | | | 0.2 | % |
| Crocs, Inc. | | | 0.2 | % |
| Saia, Inc. | | | 0.2 | % |
| Inspire Medical Systems, Inc. | | | 0.2 | % |
Russell 2000® Index – Composition
| | | % of Index | |
| Financials | | | 17 | % |
| Health Care | | | 16 | % |
| Industrials | | | 16 | % |
| Information Technology | | | 13 | % |
| Consumer Discretionary | | | 11 | % |
| Energy | | | 7 | % |
| Real Estate | | | 7 | % |
| Materials | | | 4 | % |
| Consumer Staples | | | 3 | % |
| Utilities | | | 3 | % |
| Communication Services | | | 3 | % |
Allocation of Portfolio Holdings and Index Composition (unaudited) :: 25
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 for a single day, not for any other period. 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 | | | 125 | % |
| Total Exposure | | | 125 | % |
"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.
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 for a single day, not for any other period. 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 | |
| NextEra Energy, Inc. | | | 11.2 | % |
| Duke Energy Corp. | | | 6.0 | % |
| The Southern Co. | | | 5.6 | % |
| Dominion Energy, Inc. | | | 4.0 | % |
| Sempra Energy | | | 3.8 | % |
Dow Jones U.S. UtilitiesSM Index – Composition
| | | % of Index | |
| Electric Utilities | | | 61 | % |
| Multi-Utilities | | | 28 | % |
| Gas Utilities | | | 4 | % |
| Water Utilities | | | 4 | % |
| Independent Power and Renewable Electricity Producers | | | 3 | % |
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Expense Examples
28 :: 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 throughout the period ended January 31, 2023.
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, 2023.
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
8/1/22 | | | Ending
Account Value
1/31/23 | | | Expenses
Paid During
Period† | | | Ending
Account Value
1/31/23 | | | Expenses
Paid During
Period† | |
| Access Flex Bear High Yield ProFund – Investor | | | 1.78 | % | | $ | 1,000.00 | | | $ | 969.50 | | | $ | 8.84 | | | $ | 1,016.23 | | | $ | 9.05 | |
| Access Flex Bear High Yield ProFund – Service | | | 2.78 | % | | | 1,000.00 | | | | 964.80 | | | | 13.77 | | | | 1,011.19 | | | | 14.09 | |
| Access Flex High Yield ProFund – Investor | | | 1.78 | % | | | 1,000.00 | | | | 1,032.30 | | | | 9.12 | | | | 1,016.23 | | | | 9.05 | |
| Access Flex High Yield ProFund – Service | | | 2.78 | % | | | 1,000.00 | | | | 1,027.00 | | | | 14.20 | | | | 1,011.19 | | | | 14.09 | |
| Banks UltraSector ProFund – Investor | | | 2.21 | % | | | 1,000.00 | | | | 1,087.60 | | | | 11.63 | | | | 1,014.06 | | | | 11.22 | |
| Banks UltraSector ProFund – Service | | | 3.21 | % | | | 1,000.00 | | | | 1,082.40 | | | | 16.85 | | | | 1,009.02 | | | | 16.25 | |
| Bear ProFund – Investor | | | 1.83 | % | | | 1,000.00 | | | | 1,004.40 | | | | 9.25 | | | | 1,015.98 | | | | 9.30 | |
| Bear ProFund – Service | | | 2.83 | % | | | 1,000.00 | | | | 999.30 | | | | 14.26 | | | | 1,010.94 | | | | 14.34 | |
| Biotechnology UltraSector ProFund – Investor | | | 1.55 | % | | | 1,000.00 | | | | 1,065.70 | | | | 8.07 | | | | 1,017.39 | | | | 7.88 | |
| Biotechnology UltraSector ProFund – Service | | | 2.55 | % | | | 1,000.00 | | | | 1,060.30 | | | | 13.24 | | | | 1,012.35 | | | | 12.93 | |
| Bitcoin Strategy ProFund – Investor | | | 1.23 | % | | | 1,000.00 | | | | 984.70 | | | | 6.15 | | | | 1,019.00 | | | | 6.26 | |
| Bull ProFund – Investor | | | 1.68 | % | | | 1,000.00 | | | | 985.10 | | | | 8.41 | | | | 1,016.74 | | | | 8.54 | |
| Bull ProFund – Service | | | 2.68 | % | | | 1,000.00 | | | | 980.80 | | | | 13.38 | | | | 1,011.70 | | | | 13.59 | |
| Communication Services UltraSector ProFund – Investor | | | 1.78 | % | | | 1,000.00 | | | | 938.60 | | | | 8.70 | | | | 1,016.23 | | | | 9.05 | |
| Communication Services UltraSector ProFund – Service | | | 2.78 | % | | | 1,000.00 | | | | 934.30 | | | | 13.55 | | | | 1,011.19 | | | | 14.09 | |
| Consumer Discretionary UltraSector ProFund* – Investor | | | 1.69 | % | | | 1,000.00 | | | | 980.20 | | | | 8.44 | | | | 1,016.69 | | | | 8.59 | |
Expense Examples (unaudited) :: 29
| | | | | | | | | Actual | | | Hypothetical
(5% return before expenses) | |
| | | Annualized
Expense Ratio
During Period | | | Beginning
Account Value
8/1/22 | | | Ending
Account Value
1/31/23 | | | Expenses
Paid During
Period† | | | Ending
Account Value
1/31/23 | | | Expenses
Paid During
Period† | |
| Consumer Discretionary UltraSector ProFund* – Service | | | 2.69 | % | | $ | 1,000.00 | | | $ | 975.30 | | | $ | 13.39 | | | $ | 1,011.64 | | | $ | 13.64 | |
| Consumer Staples UltraSector ProFund* – Investor | | | 1.78 | % | | | 1,000.00 | | | | 856.70 | | | | 8.33 | | | | 1,016.23 | | | | 9.05 | |
| Consumer Staples UltraSector ProFund* – Service | | | 2.77 | % | | | 1,000.00 | | | | 852.40 | | | | 12.93 | | | | 1,011.24 | | | | 14.04 | |
| Energy UltraSector ProFund* – Investor | | | 1.54 | % | | | 1,000.00 | | | | 1,207.80 | | | | 8.57 | | | | 1,017.44 | | | | 7.83 | |
| Energy UltraSector ProFund* – Service | | | 2.54 | % | | | 1,000.00 | | | | 1,201.40 | | | | 14.09 | | | | 1,012.40 | | | | 12.88 | |
| Europe 30 ProFund – Investor | | | 1.78 | % | | | 1,000.00 | | | | 1,070.90 | | | | 9.29 | | | | 1,016.23 | | | | 9.05 | |
| Europe 30 ProFund – Service | | | 2.78 | % | | | 1,000.00 | | | | 1,064.40 | | | | 14.47 | | | | 1,011.19 | | | | 14.09 | |
| Falling U.S. Dollar ProFund – Investor | | | 1.78 | % | | | 1,000.00 | | | | 1,034.00 | | | | 9.13 | | | | 1,016.23 | | | | 9.05 | |
| Falling U.S. Dollar ProFund – Service | | | 2.78 | % | | | 1,000.00 | | | | 1,029.00 | | | | 14.22 | | | | 1,011.19 | | | | 14.09 | |
| Financials UltraSector ProFund – Investor | | | 1.84 | % | | | 1,000.00 | | | | 1,070.10 | | | | 9.60 | | | | 1,015.93 | | | | 9.35 | |
| Financials UltraSector ProFund – Service | | | 2.84 | % | | | 1,000.00 | | | | 1,064.60 | | | | 14.78 | | | | 1,010.89 | | | | 14.39 | |
| Health Care UltraSector ProFund – Investor | | | 1.77 | % | | | 1,000.00 | | | | 994.90 | | | | 8.90 | | | | 1,016.28 | | | | 9.00 | |
| Health Care UltraSector ProFund – Service | | | 2.77 | % | | | 1,000.00 | | | | 990.00 | | | | 13.89 | | | | 1,011.24 | | | | 14.04 | |
| Industrials UltraSector ProFund – Investor | | | 1.78 | % | | | 1,000.00 | | | | 1,032.20 | | | | 9.12 | | | | 1,016.23 | | | | 9.05 | |
| Industrials UltraSector ProFund – Service | | | 2.78 | % | | | 1,000.00 | | | | 1,026.60 | | | | 14.20 | | | | 1,011.19 | | | | 14.09 | |
| Internet UltraSector ProFund – Investor | | | 1.62 | % | | | 1,000.00 | | | | 954.50 | | | | 7.98 | | | | 1,017.04 | | | | 8.24 | |
| Internet UltraSector ProFund – Service | | | 2.62 | % | | | 1,000.00 | | | | 949.60 | | | | 12.87 | | | | 1,012.00 | | | | 13.29 | |
| Large-Cap Growth ProFund – Investor | | | 1.88 | % | | | 1,000.00 | | | | 904.30 | | | | 9.02 | | | | 1,015.73 | | | | 9.55 | |
| Large-Cap Growth ProFund – Service | | | 2.87 | % | | | 1,000.00 | | | | 899.80 | | | | 13.74 | | | | 1,010.74 | | | | 14.55 | |
| Large-Cap Value ProFund – Investor | | | 1.81 | % | | | 1,000.00 | | | | 1,070.70 | | | | 9.45 | | | | 1,016.08 | | | | 9.20 | |
| Large-Cap Value ProFund – Service | | | 2.81 | % | | | 1,000.00 | | | | 1,065.00 | | | | 14.63 | | | | 1,011.04 | | | | 14.24 | |
| Materials UltraSector ProFund* – Investor | | | 1.88 | % | | | 1,000.00 | | | | 1,176.70 | | | | 10.31 | | | | 1,015.73 | | | | 9.55 | |
| Materials UltraSector ProFund* – Service | | | 2.88 | % | | | 1,000.00 | | | | 1,170.70 | | | | 15.76 | | | | 1,010.69 | | | | 14.60 | |
| Mid-Cap Growth ProFund – Investor | | | 1.90 | % | | | 1,000.00 | | | | 1,016.00 | | | | 9.65 | | | | 1,015.63 | | | | 9.65 | |
| Mid-Cap Growth ProFund – Service | | | 2.90 | % | | | 1,000.00 | | | | 1,010.70 | | | | 14.70 | | | | 1,010.59 | | | | 14.70 | |
| Mid-Cap ProFund – Investor | | | 1.78 | % | | | 1,000.00 | | | | 1,053.40 | | | | 9.21 | | | | 1,016.23 | | | | 9.05 | |
| Mid-Cap ProFund – Service | | | 2.78 | % | | | 1,000.00 | | | | 1,048.10 | | | | 14.35 | | | | 1,011.19 | | | | 14.09 | |
| Mid-Cap Value ProFund – Investor | | | 1.78 | % | | | 1,000.00 | | | | 1,094.20 | | | | 9.40 | | | | 1,016.23 | | | | 9.05 | |
| Mid-Cap Value ProFund – Service | | | 2.78 | % | | | 1,000.00 | | | | 1,088.80 | | | | 14.64 | | | | 1,011.19 | | | | 14.09 | |
| Nasdaq-100 ProFund – Investor | | | 1.61 | % | | | 1,000.00 | | | | 926.30 | | | | 7.82 | | | | 1,017.09 | | | | 8.19 | |
| Nasdaq-100 ProFund – Service | | | 2.61 | % | | | 1,000.00 | | | | 921.30 | | | | 12.64 | | | | 1,012.05 | | | | 13.24 | |
| Oil & Gas Equipment & Services UltraSector ProFund* – Investor | | | 1.68 | % | | | 1,000.00 | | | | 1,545.20 | | | | 10.78 | | | | 1,016.74 | | | | 8.54 | |
| Oil & Gas Equipment & Services UltraSector ProFund* – Service | | | 2.68 | % | | | 1,000.00 | | | | 1,537.70 | | | | 17.14 | | | | 1,011.70 | | | | 13.59 | |
| Pharmaceuticals UltraSector ProFund – Investor | | | 1.78 | % | | | 1,000.00 | | | | 957.00 | | | | 8.78 | | | | 1,016.23 | | | | 9.05 | |
30 :: Expense Examples (unaudited)
| | | | | | | | | Actual | | | Hypothetical
(5% return before expenses) | |
| | | Annualized
Expense Ratio
During Period | | | Beginning
Account Value
8/1/22 | | | Ending
Account Value
1/31/23 | | | Expenses
Paid During
Period† | | | Ending
Account Value
1/31/23 | | | Expenses
Paid During
Period† | |
| Pharmaceuticals UltraSector ProFund – Service | | | 2.78 | % | | $ | 1,000.00 | | | $ | 952.00 | | | $ | 13.68 | | | $ | 1,011.19 | | | $ | 14.09 | |
| Precious Metals UltraSector ProFund – Investor | | | 1.65 | % | | | 1,000.00 | | | | 1,311.70 | | | | 9.61 | | | | 1,016.89 | | | | 8.39 | |
| Precious Metals UltraSector ProFund – Service | | | 2.65 | % | | | 1,000.00 | | | | 1,304.90 | | | | 15.40 | | | | 1,011.85 | | | | 13.44 | |
| Real Estate UltraSector ProFund – Investor | | | 2.21 | % | | | 1,000.00 | | | | 888.30 | | | | 10.52 | | | | 1,014.06 | | | | 11.22 | |
| Real Estate UltraSector ProFund – Service | | | 3.21 | % | | | 1,000.00 | | | | 883.70 | | | | 15.24 | | | | 1,009.02 | | | | 16.25 | |
| Rising Rates Opportunity ProFund – Investor | | | 1.57 | % | | | 1,000.00 | | | | 1,132.40 | | | | 8.44 | | | | 1,017.29 | | | | 7.98 | |
| Rising Rates Opportunity ProFund – Service | | | 2.57 | % | | | 1,000.00 | | | | 1,126.80 | | | | 13.78 | | | | 1,012.25 | | | | 13.03 | |
| Rising Rates Opportunity 10 ProFund – Investor | | | 1.78 | % | | | 1,000.00 | | | | 1,074.30 | | | | 9.31 | | | | 1,016.23 | | | | 9.05 | |
| Rising Rates Opportunity 10 ProFund – Service | | | 2.78 | % | | | 1,000.00 | | | | 1,068.50 | | | | 14.49 | | | | 1,011.19 | | | | 14.09 | |
| Rising U.S. Dollar ProFund – Investor | | | 1.75 | % | | | 1,000.00 | | | | 975.80 | | | | 8.72 | | | | 1,016.38 | | | | 8.89 | |
| Rising U.S. Dollar ProFund – Service | | | 2.75 | % | | | 1,000.00 | | | | 970.90 | | | | 13.66 | | | | 1,011.34 | | | | 13.94 | |
| Semiconductor UltraSector ProFund – Investor | | | 1.61 | % | | | 1,000.00 | | | | 936.10 | | | | 7.86 | | | | 1,017.09 | | | | 8.19 | |
| Semiconductor UltraSector ProFund – Service | | | 2.61 | % | | | 1,000.00 | | | | 931.40 | | | | 12.71 | | | | 1,012.05 | | | | 13.24 | |
| Short Bitcoin Strategy ProFund – Investor | | | 1.35 | % | | | 1,000.00 | | | | 834.90 | | | | 6.24 | | | | 1,018.40 | | | | 6.87 | |
| Short Energy ProFund* – Investor | | | 1.78 | % | | | 1,000.00 | | | | 836.70 | | | | 8.24 | | | | 1,016.23 | | | | 9.05 | |
| Short Energy ProFund* – Service | | | 2.78 | % | | | 1,000.00 | | | | 832.60 | | | | 12.84 | | | | 1,011.19 | | | | 14.09 | |
| Short Nasdaq-100 ProFund – Investor | | | 1.78 | % | | | 1,000.00 | | | | 1,045.90 | | | | 9.18 | | | | 1,016.23 | | | | 9.05 | |
| Short Nasdaq-100 ProFund – Service | | | 2.78 | % | | | 1,000.00 | | | | 1,041.60 | | | | 14.31 | | | | 1,011.19 | | | | 14.09 | |
| Short Precious Metals ProFund – Investor | | | 1.78 | % | | | 1,000.00 | | | | 765.00 | | | | 7.92 | | | | 1,016.23 | | | | 9.05 | |
| Short Precious Metals ProFund – Service | | | 2.78 | % | | | 1,000.00 | | | | 763.00 | | | | 12.35 | | | | 1,011.19 | | | | 14.09 | |
| Short Real Estate ProFund – Investor | | | 1.78 | % | | | 1,000.00 | | | | 1,050.60 | | | | 9.20 | | | | 1,016.23 | | | | 9.05 | |
| Short Real Estate ProFund – Service | | | 2.78 | % | | | 1,000.00 | | | | 1,045.50 | | | | 14.33 | | | | 1,011.19 | | | | 14.09 | |
| Short Small-Cap ProFund – Investor | | | 1.78 | % | | | 1,000.00 | | | | 955.50 | | | | 8.77 | | | | 1,016.23 | | | | 9.05 | |
| Short Small-Cap ProFund – Service | | | 2.78 | % | | | 1,000.00 | | | | 952.50 | | | | 13.68 | | | | 1,011.19 | | | | 14.09 | |
| Small-Cap Growth ProFund – Investor | | | 1.90 | % | | | 1,000.00 | | | | 983.20 | | | | 9.50 | | | | 1,015.63 | | | | 9.65 | |
| Small-Cap Growth ProFund – Service | | | 2.90 | % | | | 1,000.00 | | | | 978.40 | | | | 14.46 | | | | 1,010.59 | | | | 14.70 | |
| Small-Cap ProFund – Investor | | | 1.78 | % | | | 1,000.00 | | | | 1,020.50 | | | | 9.07 | | | | 1,016.23 | | | | 9.05 | |
| Small-Cap ProFund – Service | | | 2.78 | % | | | 1,000.00 | | | | 1,015.20 | | | | 14.12 | | | | 1,011.19 | | | | 14.09 | |
| Small-Cap Value ProFund – Investor | | | 1.98 | % | | | 1,000.00 | | | | 1,055.50 | | | | 10.26 | | | | 1,015.22 | | | | 10.06 | |
| Small-Cap Value ProFund – Service | | | 2.98 | % | | | 1,000.00 | | | | 1,050.00 | | | | 15.40 | | | | 1,010.18 | | | | 15.10 | |
| Technology UltraSector ProFund – Investor | | | 1.67 | % | | | 1,000.00 | | | | 856.50 | | | | 7.81 | | | | 1,016.79 | | | | 8.49 | |
| Technology UltraSector ProFund – Service | | | 2.67 | % | | | 1,000.00 | | | | 852.10 | | | | 12.46 | | | | 1,011.75 | | | | 13.54 | |
| Telecommunications UltraSector ProFund†† – Investor | | | 1.67 | % | | | 1,000.00 | | | | 933.80 | | | | 8.14 | | | | 1,016.79 | | | | 8.49 | |
Expense Examples (unaudited) :: 31
| | | | | | | | | Actual | | | Hypothetical
(5% return before expenses) | |
| | | Annualized
Expense Ratio
During Period | | | Beginning
Account Value
8/1/22 | | | Ending
Account Value
1/31/23 | | | Expenses
Paid During
Period† | | | Ending
Account Value
1/31/23 | | | Expenses
Paid During
Period† | |
| Telecommunications UltraSector ProFund†† – Service | | | 2.67 | % | | $ | 1,000.00 | | | $ | 929.20 | | | $ | 12.98 | | | $ | 1,011.75 | | | $ | 13.54 | |
| UltraBear ProFund – Investor | | | 1.78 | % | | | 1,000.00 | | | | 974.90 | | | | 8.86 | | | | 1,016.23 | | | | 9.05 | |
| UltraBear ProFund – Service | | | 2.27 | % | | | 1,000.00 | | | | 973.80 | | | | 11.29 | | | | 1,013.76 | | | | 11.52 | |
| UltraBull ProFund – Investor | | | 1.57 | % | | | 1,000.00 | | | | 938.10 | | | | 7.67 | | | | 1,017.29 | | | | 7.98 | |
| UltraBull ProFund – Service | | | 2.57 | % | | | 1,000.00 | | | | 933.30 | | | | 12.52 | | | | 1,012.25 | | | | 13.03 | |
| UltraChina ProFund – Investor | | | 1.86 | % | | | 1,000.00 | | | | 1,180.80 | | | | 10.22 | | | | 1,015.83 | | | | 9.45 | |
| UltraChina ProFund – Service | | | 2.86 | % | | | 1,000.00 | | | | 1,170.60 | | | | 15.65 | | | | 1,010.79 | | | | 14.50 | |
| UltraDow 30 ProFund – Investor | | | 1.65 | % | | | 1,000.00 | | | | 1,049.00 | | | | 8.52 | | | | 1,016.89 | | | | 8.39 | |
| UltraDow 30 ProFund – Service | | | 2.62 | % | | | 1,000.00 | | | | 1,043.80 | | | | 13.50 | | | | 1,012.00 | | | | 13.29 | |
| UltraEmerging Markets ProFund – Investor | | | 1.85 | % | | | 1,000.00 | | | | 1,160.20 | | | | 10.07 | | | | 1,015.88 | | | | 9.40 | |
| UltraEmerging Markets ProFund – Service | | | 2.85 | % | | | 1,000.00 | | | | 1,153.50 | | | | 15.47 | | | | 1,010.84 | | | | 14.44 | |
| UltraInternational ProFund – Investor | | | 1.78 | % | | | 1,000.00 | | | | 1,127.10 | | | | 9.54 | | | | 1,016.23 | | | | 9.05 | |
| UltraInternational ProFund – Service | | | 2.78 | % | | | 1,000.00 | | | | 1,122.90 | | | | 14.88 | | | | 1,011.19 | | | | 14.09 | |
| UltraJapan ProFund – Investor | | | 1.78 | % | | | 1,000.00 | | | | 974.30 | | | | 8.86 | | | | 1,016.23 | | | | 9.05 | |
| UltraJapan ProFund – Service | | | 2.78 | % | | | 1,000.00 | | | | 969.90 | | | | 13.80 | | | | 1,011.19 | | | | 14.09 | |
| UltraLatin America ProFund – Investor | | | 1.93 | % | | | 1,000.00 | | | | 1,254.40 | | | | 10.97 | | | | 1,015.48 | | | | 9.80 | |
| UltraLatin America ProFund – Service | | | 2.78 | % | | | 1,000.00 | | | | 1,251.70 | | | | 15.78 | | | | 1,011.19 | | | | 14.09 | |
| UltraMid-Cap ProFund – Investor | | | 1.62 | % | | | 1,000.00 | | | | 1,068.80 | | | | 8.45 | | | | 1,017.04 | | | | 8.24 | |
| UltraMid-Cap ProFund – Service | | | 2.62 | % | | | 1,000.00 | | | | 1,063.60 | | | | 13.63 | | | | 1,012.00 | | | | 13.29 | |
| UltraNasdaq-100 ProFund – Investor | | | 1.60 | % | | | 1,000.00 | | | | 818.70 | | | | 7.33 | | | | 1,017.14 | | | | 8.13 | |
| UltraNasdaq-100 ProFund – Service | | | 2.60 | % | | | 1,000.00 | | | | 814.50 | | | | 11.89 | | | | 1,012.10 | | | | 13.19 | |
| UltraShort China ProFund – Investor | | | 1.78 | % | | | 1,000.00 | | | | 485.00 | | | | 6.66 | | | | 1,016.23 | | | | 9.05 | |
| UltraShort China ProFund – Service | | | 2.43 | % | | | 1,000.00 | | | | 485.50 | | | | 9.10 | | | | 1,012.96 | | | | 12.33 | |
| UltraShort Dow 30 ProFund – Investor | | | 1.78 | % | | | 1,000.00 | | | | 893.90 | | | | 8.50 | | | | 1,016.23 | | | | 9.05 | |
| UltraShort Dow 30 ProFund – Service | | | 2.68 | % | | | 1,000.00 | | | | 890.50 | | | | 12.77 | | | | 1,011.70 | | | | 13.59 | |
| UltraShort Emerging Markets ProFund – Investor | | | 1.78 | % | | | 1,000.00 | | | | 732.80 | | | | 7.77 | | | | 1,016.23 | | | | 9.05 | |
| UltraShort Emerging Markets ProFund – Service | | | 2.78 | % | | | 1,000.00 | | | | 729.10 | | | | 12.12 | | | | 1,011.19 | | | | 14.09 | |
| UltraShort International ProFund – Investor | | | 1.78 | % | | | 1,000.00 | | | | 809.20 | | | | 8.12 | | | | 1,016.23 | | | | 9.05 | |
| UltraShort International ProFund – Service | | | 2.78 | % | | | 1,000.00 | | | | 804.90 | | | | 12.65 | | | | 1,011.19 | | | | 14.09 | |
| UltraShort Japan ProFund – Investor | | | 1.78 | % | | | 1,000.00 | | | | 1,006.90 | | | | 9.00 | | | | 1,016.23 | | | | 9.05 | |
| UltraShort Japan ProFund – Service | | | 2.78 | % | | | 1,000.00 | | | | 1,001.10 | | | | 14.02 | | | | 1,011.19 | | | | 14.09 | |
| UltraShort Latin America ProFund – Investor | | | 1.78 | % | | | 1,000.00 | | | | 668.80 | | | | 7.49 | | | | 1,016.23 | | | | 9.05 | |
| UltraShort Latin America ProFund – Service | | | 2.78 | % | | | 1,000.00 | | | | 666.20 | | | | 11.68 | | | | 1,011.19 | | | | 14.09 | |
| UltraShort Mid-Cap ProFund – Investor | | | 1.78 | % | | | 1,000.00 | | | | 839.80 | | | | 8.25 | | | | 1,016.23 | | | | 9.05 | |
| UltraShort Mid-Cap ProFund – Service | | | 2.78 | % | | | 1,000.00 | | | | 832.60 | | | | 12.84 | | | | 1,011.19 | | | | 14.09 | |
| UltraShort Nasdaq-100 ProFund – Investor | | | 1.66 | % | | | 1,000.00 | | | | 1,039.20 | | | | 8.53 | | | | 1,016.84 | | | | 8.44 | |
32 :: Expense Examples (unaudited)
| | | | | | | | | Actual | | | Hypothetical
(5% return before expenses) | |
| | | Annualized
Expense Ratio
During Period | | | Beginning
Account Value
8/1/22 | | | Ending
Account Value
1/31/23 | | | Expenses
Paid During
Period† | | | Ending
Account Value
1/31/23 | | | Expenses
Paid During
Period† | |
| UltraShort Nasdaq-100 ProFund – Service | | | 2.66 | % | | $ | 1,000.00 | | | $ | 1,034.50 | | | $ | 13.64 | | | $ | 1,011.80 | | | $ | 13.49 | |
| UltraShort Small-Cap ProFund – Investor | | | 1.78 | % | | | 1,000.00 | | | | 878.40 | | | | 8.43 | | | | 1,016.23 | | | | 9.05 | |
| UltraShort Small-Cap ProFund – Service | | | 2.78 | % | | | 1,000.00 | | | | 873.60 | | | | 13.13 | | | | 1,011.19 | | | | 14.09 | |
| UltraSmall-Cap ProFund – Investor | | | 1.74 | % | | | 1,000.00 | | | | 1,001.50 | | | | 8.78 | | | | 1,016.43 | | | | 8.84 | |
| UltraSmall-Cap ProFund – Service | | | 2.74 | % | | | 1,000.00 | | | | 996.70 | | | | 13.79 | | | | 1,011.39 | | | | 13.89 | |
| U.S. Government Plus ProFund – Investor | | | 1.90 | % | | | 1,000.00 | | | | 861.80 | | | | 8.92 | | | | 1,015.63 | | | | 9.65 | |
| U.S. Government Plus ProFund – Service | | | 2.90 | % | | | 1,000.00 | | | | 857.50 | | | | 13.58 | | | | 1,010.59 | | | | 14.70 | |
| Utilities UltraSector ProFund – Investor | | | 1.79 | % | | | 1,000.00 | | | | 902.60 | | | | 8.58 | | | | 1,016.18 | | | | 9.10 | |
| Utilities UltraSector ProFund – Service | | | 2.79 | % | | | 1,000.00 | | | | 898.20 | | | | 13.35 | | | | 1,011.14 | | | | 14.14 | |
| * | As described in Note 11 of the Notes to Financial Statements, effective March 17, 2023, this ProFund’s name changed due to a change to its underlying benchmark index. |
| † | Expenses are equal to the average account value over the period multiplied by the Fund’s annualized expense ratio, multiplied by the number of days in the most recent fiscal half-year divided by the number of days in the fiscal year (to reflect the one-half year period). |
| †† | As described in Note 11 of the Notes to Financial Statements, on February 7, 2023, the Telecommunications UltraSector ProFund was liquidated and closed. |
Schedules of Portfolio Investments
34 :: Access Flex Bear High Yield ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Repurchase Agreements(a) (78.1%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $1,624,190 | | $ | 1,624,000 | | | $ | 1,624,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $1,624,000) | | | | | | | 1,624,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $1,624,000)—78.1% | | | | | | | 1,624,000 | |
| Net other assets (liabilities)—21.9% | | | | | | | 454,805 | |
| NET ASSETS—100.0% | | | | | | $ | 2,078,805 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to the 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) | |
| 5-Year U.S. Treasury Note Futures Contracts | | 16 | | | 4/3/23 | | $ | (1,751,250 | ) | | $ | (18,730 | ) |
Centrally Cleared Swap Agreements
Credit Default Swap Agreements—Buy Protection(1)
Underlying
Instrument | | Payment
Frequency | | Fixed Deal
Pay Rate | | | Maturity
Date | | Implied
Credit
Spread at
January 31,
2023(2) | | | Notional
Amount(3) | | | Value | | | Premiums
Paid
(Received) | | | Unrealized
Appreciation/
(Depreciation) | | | Variation
Margin | |
| CDX North America High Yield Index Swap Agreement; Series 39 | | Daily | | | 5.00 | % | | 12/20/27 | | | 4.31 | % | | $ | 2,039,000 | | | $ | (58,278 | ) | | $ | 96,462 | | | $ | (154,740 | ) | | $ | (13,465 | ) |
| (1) | When a credit event occurs as defined under the terms of the swap agreement, the Fund as a buyer of credit protection will either (i) receive from the seller of protection an amount equal to the par value of the defaulted reference entity and deliver the reference entity or (ii) receive a net amount equal to the par value of the defaulted reference entity less its recovery value. |
| (2) | Implied credit spread, represented in absolute terms, utilized in determining the value of the credit default swap agreements as of period end will serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default or other credit event for the credit derivative. The implied credit spread of a referenced entity reflects the cost of buying/selling protection and may include payments required to be made to enter into the agreement. Generally, wider credit spreads represent a perceived deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the swap agreement. |
| (3) | The notional amount represents the maximum potential amount the Fund may receive as a buyer of credit protection if a credit event occurs, as defined under the terms of the swap agreement, for each security included in the CDX North America High Yield Index. |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Access Flex High Yield ProFund :: 35
U.S. Treasury Obligation (60.2%)
| | | Principal
Amount | | | Value | |
| U.S. Treasury Note, 3.88%, 12/31/27 | | $ | 16,450,000 | | | $ | 16,640,203 | |
TOTAL U.S. TREASURY OBLIGATION
(Cost $16,485,649) | | | | | | | 16,640,203 | |
| | | | | | | | | |
Repurchase Agreements(a) (30.5%)
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $8,431,986 | | | 8,431,000 | | | | 8,431,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $8,431,000) | | | | | | | 8,431,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $24,916,649)—90.7% | | | | | | | 25,071,203 | |
| Net other assets (liabilities)—9.3% | | | | | | | 2,564,128 | |
| NET ASSETS—100.0% | | | | | | $ | 27,635,331 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to the 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) | |
| 5-Year U.S. Treasury Note Futures Contracts | | 22 | | | 4/3/23 | | $ | 2,407,969 | | | $ | 29,182 | |
Centrally Cleared Swap Agreements
Credit Default Swap Agreements—Sell Protection(1)
Underlying
Instrument | | Payment
Frequency | | Fixed Deal
Pay Rate | | | Maturity
Date | | Implied
Credit
Spread at
January 31,
2023(2) | | | Notional
Amount(3) | | | Value | | | Premiums
Paid
(Received) | | | Unrealized
Appreciation/
(Depreciation) | | | Variation
Margin | |
| CDX North America High Yield Index Swap Agreement; Series 39 | | Daily | | | 5.00 | % | | 12/20/27 | | | 4.29 | % | | $ | 24,510,000 | | | $ | 700,542 | | | $ | (313,388 | ) | | $ | 1,013,930 | | | $ | 161,134 | |
| (1) | When a credit event occurs as defined under the terms of the swap agreement, the Fund as a seller of credit protection will either (i) pay to the buyer of protection an amount equal to the par value of the defaulted reference entity and take delivery of the reference entity or (ii) pay a net amount equal to the par value of the defaulted reference entity less its recovery value. |
| (2) | Implied credit spread, represented in absolute terms, utilized in determining the value of the credit default swap agreements as of period end will serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default or other credit event for the credit derivative. The implied credit spread of a referenced entity reflects the cost of buying/selling protection and may include payments required to be made to enter into the agreement. Generally, wider credit spreads represent a perceived deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the swap agreement. |
| (3) | The notional amount represents the maximum potential amount the Fund may pay as a seller of credit protection if a credit event occurs, as defined under the terms of the swap agreement, for each security included in the CDX North America High Yield Index. |
See accompanying notes to the financial statements.
36 :: Banks UltraSector ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks (77.3%)
| | | Shares | | | Value | |
| Bank of America Corp. (Banks) | | | 30,238 | | | $ | 1,072,843 | |
| Bank OZK (Banks) | | | 480 | | | | 21,922 | |
| BOK Financial Corp. (Banks) | | | 125 | | | | 12,563 | |
| Citigroup, Inc. (Banks) | | | 8,391 | | | | 438,178 | |
| Citizens Financial Group, Inc. (Banks) | | | 2,134 | | | | 92,445 | |
| Comerica, Inc. (Banks) | | | 567 | | | | 41,567 | |
| Commerce Bancshares, Inc. (Banks) | | | 494 | | | | 32,881 | |
| Cullen/Frost Bankers, Inc. (Banks) | | | 279 | | | | 36,348 | |
| East West Bancorp, Inc. (Banks) | | | 611 | | | | 47,976 | |
| F.N.B. Corp. (Banks) | | | 1,520 | | | | 21,690 | |
| Fifth Third Bancorp (Banks) | | | 2,974 | | | | 107,926 | |
| First Citizens BancShares, Inc.—Class A (Banks) | | | 51 | | | | 39,662 | |
| First Financial Bankshares, Inc. (Banks) | | | 562 | | | | 20,018 | |
| First Horizon Corp. (Banks) | | | 2,325 | | | | 57,508 | |
| First Republic Bank (Banks) | | | 792 | | | | 111,577 | |
| Glacier Bancorp, Inc. (Banks) | | | 480 | | | | 21,883 | |
| Home BancShares, Inc. (Banks) | | | 822 | | | | 19,621 | |
| Huntington Bancshares, Inc. (Banks) | | | 6,251 | | | | 94,828 | |
| JPMorgan Chase & Co. (Banks) | | | 12,708 | | | | 1,778,611 | |
| KeyCorp (Banks) | | | 4,038 | | | | 77,489 | |
| M&T Bank Corp. (Banks) | | | 748 | | | | 116,688 | |
| New York Community Bancorp, Inc. (Thrifts & Mortgage Finance) | | | 2,947 | | | | 29,440 | |
| Pinnacle Financial Partners, Inc. (Banks) | | | 331 | | | | 26,060 | |
| Popular, Inc. (Banks) | | | 315 | | | | 21,622 | |
| Prosperity Bancshares, Inc. (Banks) | | | 396 | | | | 30,041 | |
| Regions Financial Corp. (Banks) | | | 4,048 | | | | 95,290 | |
| Signature Bank (Banks) | | | 273 | | | | 35,203 | |
| SouthState Corp. (Banks) | | | 328 | | | | 26,109 | |
| SVB Financial Group* (Banks) | | | 256 | | | | 77,425 | |
| Synovus Financial Corp. (Banks) | | | 630 | | | | 26,429 | |
| TFS Financial Corp. (Thrifts & Mortgage Finance) | | | 207 | | | | 2,950 | |
| The PNC Financial Services Group, Inc. (Banks) | | | 1,747 | | | | 289,006 | |
| Truist Financial Corp. (Banks) | | | 5,747 | | | | 283,844 | |
| U.S. Bancorp (Banks) | | | 5,858 | | | | 291,728 | |
| UMB Financial Corp. (Banks) | | | 188 | | | | 16,956 | |
| Umpqua Holdings Corp. (Banks) | | | 940 | | | | 17,108 | |
| United Bankshares, Inc. (Banks) | | | 584 | | | | 23,477 | |
| Valley National Bancorp (Banks) | | | 1,821 | | | | 21,633 | |
| Webster Financial Corp. (Banks) | | | 754 | | | | 39,698 | |
| Wells Fargo & Co. (Banks) | | | 16,509 | | | | 773,776 | |
| Western Alliance Bancorp (Banks) | | | 472 | | | | 35,575 | |
| Wintrust Financial Corp. (Banks) | | | 263 | | | | 24,057 | |
| Zions Bancorp (Banks) | | | 648 | | | | 34,448 | |
TOTAL COMMON STOCKS
(Cost $1,660,661) | | | | | | | 6,486,099 | |
Repurchase Agreements(a)(b) (20.8%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $1,743,204 | | $ | 1,743,000 | | | $ | 1,743,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $1,743,000) | | | | | | | 1,743,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $3,403,661)—98.1% | | | | | | | 8,229,099 | |
| Net other assets (liabilities)—1.9% | | | | | | | 160,528 | |
| NET ASSETS—100.0% | | | | | | $ | 8,389,627 | |
| * | 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 the 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, 2023, the aggregate amount held in a segregated account was $744,000. |
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. Banks Index | | Goldman Sachs International | | 2/23/23 | | | 4.93 | % | | $ | 2,964,547 | | | $ | 76,721 | |
| Dow Jones U.S. Banks Index | | UBS AG | | 2/23/23 | | | 4.68 | % | | | 3,109,706 | | | | 73,689 | |
| | | | | | | | | | | $ | 6,074,253 | | | $ | 150,410 | |
| (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, 2023, 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: Banks UltraSector ProFund :: 37
Banks UltraSector ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Banks | | $ | 6,453,709 | | | | 76.9 | % |
| Thrifts & Mortgage Finance | | | 32,390 | | | | 0.4 | % |
| Other** | | | 1,903,528 | | | | 22.7 | % |
| Total | | $ | 8,389,627 | | | | 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.
38 :: Bear ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Repurchase Agreements(a)(b) (104.1%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $13,020,523 | | $ | 13,019,000 | | | $ | 13,019,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $13,019,000) | | | | | | | 13,019,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $13,019,000)—104.1% | | | | | | | 13,019,000 | |
| Net other assets (liabilities)—(4.1)% | | | | | | | (509,896 | ) |
| NET ASSETS—100.0% | | | | | | $ | 12,509,104 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $2,077,000. |
Futures Contracts Sold
| | | Number
of
Contracts | | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini S&P 500 Futures Contracts | | 9 | | | 3/20/23 | | $ | (1,840,500 | ) | | $ | (54,917 | ) |
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 | | 2/27/23 | | | (4.68 | )% | | $ | (3,151,212 | ) | | $ | (4,411 | ) |
| S&P 500 | | UBS AG | | 2/27/23 | | | (4.48 | )% | | | (7,513,174 | ) | | | (20,341 | ) |
| | | | | | | | | | | $ | (10,664,386 | ) | | $ | (24,752 | ) |
| (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, 2023, 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: Biotechnology UltraSector ProFund :: 39
Common Stocks (80.8%)
| | | Shares | | | Value | |
| 10X Genomics, Inc.*—Class A (Life Sciences Tools & Services) | | | 6,711 | | | $ | 314,276 | |
| AbbVie, Inc. (Biotechnology) | | | 124,159 | | | | 18,344,491 | |
| Agilent Technologies, Inc. (Life Sciences Tools & Services) | | | 20,781 | | | | 3,160,375 | |
| Alkermes PLC* (Biotechnology) | | | 11,534 | | | | 330,334 | |
| Alnylam Pharmaceuticals, Inc.* (Biotechnology) | | | 8,636 | | | | 1,955,190 | |
| Amgen, Inc. (Biotechnology) | | | 37,456 | | | | 9,453,893 | |
| Apellis Pharmaceuticals, Inc.* (Biotechnology) | | | 6,598 | | | | 347,913 | |
| Arrowhead Pharmaceuticals, Inc.* (Biotechnology) | | | 7,430 | | | | 259,976 | |
| Avantor, Inc.* (Life Sciences Tools & Services) | | | 47,328 | | | | 1,131,139 | |
| Azenta, Inc.* (Life Sciences Tools & Services) | | | 5,266 | | | | 294,369 | |
| Beam Therapeutics, Inc.*(a) (Biotechnology) | | | 4,155 | | | | 180,535 | |
| Biogen, Inc.* (Biotechnology) | | | 10,109 | | | | 2,940,708 | |
| Biohaven, Ltd.* (Biotechnology) | | | 4,498 | | | | 85,867 | |
| BioMarin Pharmaceutical, Inc.* (Biotechnology) | | | 13,046 | | | | 1,504,856 | |
| Bio-Techne Corp. (Life Sciences Tools & Services) | | | 11,019 | | | | 877,774 | |
| Blueprint Medicines Corp.* (Biotechnology) | | | 4,200 | | | | 196,308 | |
| Charles River Laboratories International, Inc.* (Life Sciences Tools & Services) | | | 3,572 | | | | 868,889 | |
| CRISPR Therapeutics AG* (Biotechnology) | | | 5,496 | | | | 280,406 | |
| Danaher Corp. (Health Care Equipment & Supplies) | | | 45,991 | | | | 12,159,101 | |
| Denali Therapeutics, Inc.* (Biotechnology) | | | 7,722 | | | | 233,745 | |
| Exact Sciences Corp.* (Biotechnology) | | | 12,473 | | | | 842,177 | |
| Exelixis, Inc.* (Biotechnology) | | | 22,643 | | | | 398,970 | |
| Fate Therapeutics, Inc.* (Biotechnology) | | | 5,798 | | | | 34,556 | |
| Gilead Sciences, Inc. (Biotechnology) | | | 88,045 | | | | 7,390,496 | |
| Halozyme Therapeutics, Inc.* (Biotechnology) | | | 9,492 | | | | 491,401 | |
| Horizon Therapeutics PLC* (Pharmaceuticals) | | | 15,908 | | | | 1,745,426 | |
| Illumina, Inc.* (Life Sciences Tools & Services) | | | 11,042 | | | | 2,365,196 | |
| Incyte Corp.* (Biotechnology) | | | 12,962 | | | | 1,103,585 | |
| Intellia Therapeutics, Inc.* (Biotechnology) | | | 5,983 | | | | 253,919 | |
| Ionis Pharmaceuticals, Inc.* (Biotechnology) | | | 9,972 | | | | 397,584 | |
| IQVIA Holdings, Inc.* (Life Sciences Tools & Services) | | | 13,039 | | | | 2,991,277 | |
| Maravai LifeSciences Holdings, Inc.*—Class A (Life Sciences Tools & Services) | | | 7,659 | | | | 112,281 | |
| Medpace Holdings, Inc.* (Life Sciences Tools & Services) | | | 1,768 | | | | 390,852 | |
| Mettler-Toledo International, Inc.* (Life Sciences Tools & Services) | | | 1,565 | | | | 2,399,020 | |
| Mirati Therapeutics, Inc.* (Biotechnology) | | | 3,638 | | | | 194,306 | |
| Moderna, Inc.* (Biotechnology) | | | 23,193 | | | | 4,083,360 | |
| Natera, Inc.* (Biotechnology) | | | 7,654 | | | | 328,586 | |
| Neurocrine Biosciences, Inc.* (Biotechnology) | | | 6,748 | | | | 748,556 | |
| Novavax, Inc.*(a) (Biotechnology) | | | 5,511 | | | | 60,125 | |
| Regeneron Pharmaceuticals, Inc.* (Biotechnology) | | | 7,517 | | | | 5,701,419 | |
| Repligen Corp.* (Life Sciences Tools & Services) | | | 3,625 | | | | 671,713 | |
| Sarepta Therapeutics, Inc.* (Biotechnology) | | | 6,162 | | | | 770,065 | |
| Seagen, Inc.* (Biotechnology) | | | 9,645 | | | | 1,345,285 | |
| Sotera Health Co.* (Life Sciences Tools & Services) | | | 6,931 | | | | 119,490 | |
| Syneos Health, Inc.* (Life Sciences Tools & Services) | | | 7,219 | | | | 259,306 | |
| Ultragenyx Pharmaceutical, Inc.* (Biotechnology) | | | 4,921 | | | | 223,069 | |
| United Therapeutics Corp.* (Biotechnology) | | | 3,199 | | | | 841,881 | |
| Vertex Pharmaceuticals, Inc.* (Biotechnology) | | | 18,019 | | | | 5,821,939 | |
| Vir Biotechnology, Inc.* (Biotechnology) | | | 5,326 | | | | 157,383 | |
| West Pharmaceutical Services, Inc. (Life Sciences Tools & Services) | | | 5,197 | | | | 1,380,323 | |
TOTAL COMMON STOCKS
(Cost $45,213,165) | | | | | | | 98,543,691 | |
Repurchase Agreements(b)(c) (20.3%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $24,758,895 | | $ | 24,756,000 | | | $ | 24,756,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $24,756,000) | | | | | | | 24,756,000 | |
Collateral for Securities Loaned(d) (0.2%)
| | | Shares | | | Value | |
| Invesco Government & Agency Portfolio—Institutional Shares, 4.32%(e) | | | 239,232 | | | $ | 239,232 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $239,232) | | | | | | | 239,232 | |
TOTAL INVESTMENT SECURITIES
(Cost $70,208,397)—101.3% | | | | | | | 123,538,923 | |
| Net other assets (liabilities)—(1.3)% | | | | | | | (1,623,875 | ) |
| NET ASSETS—100.0% | | | | | | $ | 121,915,048 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $240,605. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $17,710,000. |
| (d) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (e) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
See accompanying notes to the financial statements.
40 :: Biotechnology UltraSector ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (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 | | 2/23/23 | | | 4.93 | % | | $ | 43,033,187 | | | $ | (608,757 | ) |
| Dow Jones U.S. Biotechnology Index | | UBS AG | | 2/23/23 | | | 4.83 | % | | | 40,774,368 | | | | (526,968 | ) |
| | | | | | | | | | | $ | 83,807,555 | | | $ | (1,135,725 | ) |
| (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, 2023, 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, 2023:
| | | Value | | | % of
Net Assets | |
| Biotechnology | | $ | 67,302,884 | | | | 55.1 | % |
| Health Care Equipment & Supplies | | | 12,159,101 | | | | 10.0 | % |
| Life Sciences Tools & Services | | | 17,336,280 | | | | 14.2 | % |
| Pharmaceuticals | | | 1,745,426 | | | | 1.5 | % |
| Other** | | | 23,371,357 | | | | 19.2 | % |
| Total | | $ | 121,915,048 | | | | 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, 2023 (unaudited) :: Consolidated Schedule of Portfolio Investments :: Bitcoin Strategy ProFund :: 41
U.S. Treasury Obligation (46.2%)
| | | Principal
Amount | | | Value | |
| U.S. Treasury Bills, 4.03%+, 2/16/23^ | | $ | 14,000,000 | | | $ | 13,974,951 | |
TOTAL U.S. TREASURY OBLIGATION
(Cost $13,975,837) | | | | | | | 13,974,951 | |
TOTAL INVESTMENT SECURITIES
(Cost $13,975,837)—46.2% | | | | | | | 13,974,951 | |
| Reverse Repurchase Agreements including accrued interest—(46.2)% | | | | | | | (13,976,364 | ) |
| Net other assets (liabilities)—100.0% | | | | | | | 30,232,088 | |
| NET ASSETS—100.0% | | | | | | $ | 30,230,675 | |
| + | Reflects the effective yield or interest rate in effect at January 31, 2023. |
| ^ | $13,974,951 of this security has been pledged as collateral for reverse repurchase agreements. |
Futures Contracts Purchased
| | | Number
of
Contracts | | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| CME Bitcoin Futures Contracts | | 164 | | | 2/27/23 | | $ | 19,065,000 | | | $ | 2,232,898 | |
| CME Bitcoin Futures Contracts | | 95 | | | 4/3/23 | | | 11,103,125 | | | | 11,728 | |
| | | | | | | | $ | 30,168,125 | | | $ | 2,244,626 | |
See accompanying notes to the financial statements.
42 :: Bull ProFund :: Summary Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks (70.9%)
| | | Percentage
of Net Assets | | | Shares | | | Value | |
| Abbott Laboratories (Health Care Equipment & Supplies) | | | 0.4 | % | | | 1,298 | | | $ | 143,494 | |
| AbbVie, Inc. (Biotechnology) | | | 0.5 | % | | | 1,315 | | | | 194,291 | |
| Accenture PLC—Class A (IT Services) | | | 0.4 | % | | | 468 | | | | 130,595 | |
| Adobe, Inc.* (Software)* | | | 0.4 | % | | | 345 | | | | 127,767 | |
| Alphabet, Inc.—Class C* (Interactive Media & Services)* | | | 1.1 | % | | | 3,939 | | | | 393,388 | |
| Alphabet, Inc.—Class A* (Interactive Media & Services)* | | | 1.2 | % | | | 4,443 | | | | 439,145 | |
| Amazon.com, Inc.* (Internet & Direct Marketing Retail)* | | | 1.9 | % | | | 6,601 | | | | 680,762 | |
| Apple, Inc. (Technology Hardware, Storage & Peripherals) | | | 4.5 | % | | | 11,123 | | | | 1,604,938 | |
| Bank of America Corp. (Banks) | | | 0.5 | % | | | 5,192 | | | | 184,212 | |
| Berkshire Hathaway, Inc.—Class B* (Diversified Financial Services)* | | | 1.2 | % | | | 1,340 | | | | 417,437 | |
| Bristol-Myers Squibb Co. (Pharmaceuticals) | | | 0.3 | % | | | 1,582 | | | | 114,932 | |
| Broadcom, Inc. (Semiconductors & Semiconductor Equipment) | | | 0.5 | % | | | 301 | | | | 176,088 | |
| Chevron Corp. (Oil, Gas & Consumable Fuels) | | | 0.6 | % | | | 1,322 | | | | 230,054 | |
| Cisco Systems, Inc. (Communications Equipment) | | | 0.4 | % | | | 3,055 | | | | 148,686 | |
| Comcast Corp.—Class A (Media) | | | 0.4 | % | | | 3,209 | | | | 126,275 | |
| ConocoPhillips (Oil, Gas & Consumable Fuels) | | | 0.3 | % | | | 926 | | | | 112,852 | |
| Costco Wholesale Corp. (Food & Staples Retailing) | | | 0.5 | % | | | 329 | | | | 168,165 | |
| Danaher Corp. (Health Care Equipment & Supplies) | | | 0.4 | % | | | 488 | | | | 129,017 | |
| Eli Lilly & Co. (Pharmaceuticals) | | | 0.6 | % | | | 586 | | | | 201,672 | |
| Exxon Mobil Corp. (Oil, Gas & Consumable Fuels) | | | 1.0 | % | | | 3,063 | | | | 355,338 | |
| Johnson & Johnson (Pharmaceuticals) | | | 0.9 | % | | | 1,944 | | | | 317,688 | |
| JPMorgan Chase & Co. (Banks) | | | 0.9 | % | | | 2,181 | | | | 305,253 | |
| Linde PLC (Chemicals) | | | 0.3 | % | | | 368 | | | | 121,786 | |
| Mastercard, Inc.—Class A (IT Services) | | | 0.7 | % | | | 631 | | | | 233,849 | |
| McDonald’s Corp. (Hotels, Restaurants & Leisure) | | | 0.4 | % | | | 544 | | | | 145,465 | |
| Merck & Co., Inc. (Pharmaceuticals) | | | 0.6 | % | | | 1,886 | | | | 202,575 | |
| Meta Platforms, Inc.—Class A* (Interactive Media & Services)* | | | 0.7 | % | | | 1,673 | | | | 249,227 | |
| Microsoft Corp. (Software) | | | 3.8 | % | | | 5,544 | | | | 1,373,858 | |
| Netflix, Inc.* (Entertainment)* | | | 0.3 | % | | | 331 | | | | 117,128 | |
| NextEra Energy, Inc. (Electric Utilities) | | | 0.3 | % | | | 1,478 | | | | 110,303 | |
| NIKE, Inc.—Class B (Textiles, Apparel & Luxury Goods) | | | 0.3 | % | | | 937 | | | | 119,308 | |
| NVIDIA Corp. (Semiconductors & Semiconductor Equipment) | | | 1.0 | % | | | 1,852 | | | | 361,826 | |
| PepsiCo, Inc. (Beverages) | | | 0.5 | % | | | 1,025 | | | | 175,295 | |
| Pfizer, Inc. (Pharmaceuticals) | | | 0.5 | % | | | 4,175 | | | | 184,368 | |
| Philip Morris International, Inc. (Tobacco) | | | 0.3 | % | | | 1,154 | | | | 120,293 | |
| Qualcomm, Inc. (Semiconductors & Semiconductor Equipment) | | | 0.3 | % | | | 834 | | | | 111,097 | |
| Salesforce, Inc.* (Software)* | | | 0.3 | % | | | 744 | | | | 124,970 | |
| Tesla, Inc.* (Automobiles)* | | | 1.0 | % | | | 1,996 | | | | 345,747 | |
| Texas Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 0.3 | % | | | 675 | | | | 119,617 | |
| The Coca-Cola Co. (Beverages) | | | 0.5 | % | | | 2,894 | | | | 177,459 | |
| The Home Depot, Inc. (Specialty Retail) | | | 0.7 | % | | | 761 | | | | 246,693 | |
| The Procter & Gamble Co. (Household Products) | | | 0.7 | % | | | 1,763 | | | | 251,015 | |
| The Walt Disney Co.* (Entertainment)* | | | 0.4 | % | | | 1,356 | | | | 147,112 | |
| Thermo Fisher Scientific, Inc. (Life Sciences Tools & Services) | | | 0.5 | % | | | 292 | | | | 166,535 | |
| UnitedHealth Group, Inc. (Health Care Providers & Services) | | | 1.0 | % | | | 695 | | | | 346,937 | |
| Verizon Communications, Inc. (Diversified Telecommunication Services) | | | 0.4 | % | | | 3,125 | | | | 129,905 | |
| Visa, Inc.—Class A (IT Services) | | | 0.8 | % | | | 1,216 | | | | 279,935 | |
| Walmart, Inc. (Food & Staples Retailing) | | | 0.4 | % | | | 1,050 | | | | 151,064 | |
| Wells Fargo & Co. (Banks) | | | 0.4 | % | | | 2,835 | | | | 132,876 | |
| Other Common Stocks(a) | | | 34.7 | % | | | 139,050 | | | | 12,425,839 | |
TOTAL COMMON STOCKS
(Cost $7,460,452) | | | | | | | | | | | 25,374,131 | |
Repurchase Agreements(b)(c) (28.8%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $10,317,206 | | $ | 10,316,000 | | | $ | 10,316,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $10,316,000) | | | | | | | 10,316,000 | |
Collateral for Securities Loaned(d)(NM)
| | | Shares | | | Value | |
| Invesco Government & Agency Portfolio—Institutional Shares, 4.32%(e) | | | 4,804 | | | $ | 4,804 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $4,804) | | | | | | | 4,804 | |
TOTAL INVESTMENT SECURITIES
(Cost $17,781,256)—99.7% | | | | | | | 35,694,935 | |
| Net other assets (liabilities)—0.3% | | | | | | | 106,614 | |
| NET ASSETS—100.0% | | | | | | $ | 35,801,549 | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Summary Schedule of Portfolio Investments :: Bull ProFund :: 43
| * | Non-income producing security. |
| (a) | All or part of one or more securities within this group was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $4,791. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $983,000. |
| (d) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (e) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
| NM | Not meaningful, amount is less than 0.05%. |
Futures Contracts Purchased
| | | Number
of
Contracts | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini S&P 500 Futures Contracts | | 15 | | 3/20/23 | | $ | 3,067,500 | | | $ | 91,434 | |
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 | | 2/27/23 | | | 4.93 | % | | $ | 2,083,142 | | | $ | 2,313 | |
| S&P 500 | | UBS AG | | 2/27/23 | | | 4.83 | % | | | 5,279,197 | | | | 10,627 | |
| | | | | | | | | | | $ | 7,362,339 | | | $ | 12,940 | |
| (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, 2023, 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.
44 :: Bull ProFund :: Summary Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Bull ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 452,320 | | | | 1.3 | % |
| Air Freight & Logistics | | | 156,757 | | | | 0.4 | % |
| Airlines | | | 59,203 | | | | 0.2 | % |
| Auto Components | | | 31,118 | | | | 0.1 | % |
| Automobiles | | | 427,067 | | | | 1.2 | % |
| Banks | | | 997,973 | | | | 2.8 | % |
| Beverages | | | 448,972 | | | | 1.3 | % |
| Biotechnology | | | 581,301 | | | | 1.6 | % |
| Building Products | | | 117,511 | | | | 0.3 | % |
| Capital Markets | | | 804,942 | | | | 2.2 | % |
| Chemicals | | | 478,730 | | | | 1.3 | % |
| Commercial Services & Supplies | | | 118,058 | | | | 0.3 | % |
| Communications Equipment | | | 218,057 | | | | 0.6 | % |
| Construction & Engineering | | | 16,284 | | | | NM | |
| Construction Materials | | | 34,693 | | | | 0.1 | % |
| Consumer Finance | | | 147,386 | | | | 0.4 | % |
| Containers & Packaging | | | 72,525 | | | | 0.2 | % |
| Distributors | | | 39,947 | | | | 0.1 | % |
| Diversified Financial Services | | | 417,437 | | | | 1.2 | % |
| Diversified Telecommunication Services | | | 241,635 | | | | 0.7 | % |
| Electric Utilities | | | 481,786 | | | | 1.3 | % |
| Electrical Equipment | | | 142,223 | | | | 0.4 | % |
| Electronic Equipment, Instruments & Components | | | 166,276 | | | | 0.5 | % |
| Energy Equipment & Services | | | 111,698 | | | | 0.3 | % |
| Entertainment | | | 376,169 | | | | 1.0 | % |
| Equity Real Estate Investment Trusts (REITs) | | | 687,736 | | | | 1.9 | % |
| Food & Staples Retailing | | | 389,797 | | | | 1.1 | % |
| Food Products | | | 278,328 | | | | 0.8 | % |
| Gas Utilities | | | 12,342 | | | | NM | |
| Health Care Equipment & Supplies | | | 834,329 | | | | 2.3 | % |
| Health Care Providers & Services | | | 851,615 | | | | 2.4 | % |
| Hotels, Restaurants & Leisure | | | 533,815 | | | | 1.5 | % |
| Household Durables | | | 94,509 | | | | 0.3 | % |
| Household Products | | | 357,679 | | | | 1.0 | % |
| Independent Power and Renewable Electricity Producers | | | 13,623 | | | | NM | |
| Industrial Conglomerates | | | 216,968 | | | | 0.6 | % |
| Insurance | | | 606,342 | | | | 1.7 | % |
| Interactive Media & Services | | | 1,093,018 | | | | 3.1 | % |
| Internet & Direct Marketing Retail | | | 713,554 | | | | 2.0 | % |
| IT Services | | | 1,131,953 | | | | 3.2 | % |
| Leisure Products | | | 5,739 | | | | NM | |
| Life Sciences Tools & Services | | | 348,954 | | | | 1.0 | % |
| Machinery | | | 472,804 | | | | 1.3 | % |
| Media | | | 210,749 | | | | 0.6 | % |
| Metals & Mining | | | 125,879 | | | | 0.4 | % |
| Multiline Retail | | | 121,717 | | | | 0.3 | % |
| Multi-Utilities | | | 216,870 | | | | 0.6 | % |
| Oil, Gas & Consumable Fuels | | | 1,171,811 | | | | 3.3 | % |
| Personal Products | | | 47,658 | | | | 0.1 | % |
| Pharmaceuticals | | | 1,102,388 | | | | 3.1 | % |
| Professional Services | | | 93,453 | | | | 0.3 | % |
| Real Estate Management & Development | | | 20,095 | | | | 0.1 | % |
| Road & Rail | | | 217,843 | | | | 0.6 | % |
| Semiconductors & Semiconductor Equipment | | | 1,410,864 | | | | 3.9 | % |
| Software | | | 2,123,652 | | | | 5.9 | % |
| Specialty Retail | | | 586,202 | | | | 1.6 | % |
| Technology Hardware, Storage & Peripherals | | | 1,670,477 | | | | 4.7 | % |
| Textiles, Apparel & Luxury Goods | | | 138,992 | | | | 0.4 | % |
| Tobacco | | | 180,331 | | | | 0.5 | % |
| Trading Companies & Distributors | | | 64,557 | | | | 0.2 | % |
| Water Utilities | | | 21,126 | | | | 0.1 | % |
| Wireless Telecommunication Services | | | 66,294 | | | | 0.2 | % |
| Other** | | | 10,427,418 | | | | 29.1 | % |
| Total | | $ | 35,801,549 | | | | 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: Communication Services UltraSector ProFund :: 45
Common Stocks (69.7%)
| | | Shares | | | Value | |
| Activision Blizzard, Inc. (Entertainment) | | | 1,462 | | | $ | 111,945 | |
| Alphabet, Inc.*—Class A (Interactive Media & Services) | | | 3,428 | | | | 338,824 | |
| Alphabet, Inc.*—Class C (Interactive Media & Services) | | | 3,039 | | | | 303,505 | |
| AT&T, Inc. (Diversified Telecommunication Services) | | | 6,081 | | | | 123,870 | |
| Charter Communications, Inc.*—Class A (Media) | | | 331 | | | | 127,206 | |
| Comcast Corp.—Class A (Media) | | | 3,201 | | | | 125,959 | |
| DISH Network Corp.*—Class A (Media) | | | 794 | | | | 11,426 | |
| Electronic Arts, Inc. (Entertainment) | | | 829 | | | | 106,676 | |
| Fox Corp.—Class A (Media) | | | 956 | | | | 32,447 | |
| Fox Corp.—Class B (Media) | | | 440 | | | | 13,948 | |
| Live Nation Entertainment, Inc.* (Entertainment) | | | 451 | | | | 36,301 | |
| Lumen Technologies, Inc. (Diversified Telecommunication Services) | | | 3,007 | | | | 15,787 | |
| Match Group, Inc.* (Interactive Media & Services) | | | 882 | | | | 47,734 | |
| Meta Platforms, Inc.*—Class A (Interactive Media & Services) | | | 3,221 | | | | 479,831 | |
| Netflix, Inc.* (Entertainment) | | | 385 | | | | 136,236 | |
| News Corp.—Class A (Media) | | | 1,208 | | | | 24,474 | |
| News Corp.—Class B (Media) | | | 372 | | | | 7,604 | |
| Omnicom Group, Inc. (Media) | | | 644 | | | | 55,378 | |
| Paramount Global—Class B (Media) | | | 1,596 | | | | 36,963 | |
| Take-Two Interactive Software, Inc.* (Entertainment) | | | 498 | | | | 56,389 | |
| The Interpublic Group of Cos., Inc. (Media) | | | 1,228 | | | | 44,773 | |
| The Walt Disney Co.* (Entertainment) | | | 1,287 | | | | 139,627 | |
| T-Mobile U.S., Inc.* (Wireless Telecommunication Services) | | | 855 | | | | 127,660 | |
| Verizon Communications, Inc. (Diversified Telecommunication Services) | | | 6,016 | | | | 250,085 | |
| Warner Bros Discovery, Inc.* (Entertainment) | | | 6,982 | | | | 103,473 | |
TOTAL COMMON STOCKS
(Cost $2,378,323) | | | | | | | 2,858,121 | |
Repurchase Agreements(a)(b) (30.2%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $1,236,145 | | $ | 1,236,000 | | | $ | 1,236,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $1,236,000) | | | | | | | 1,236,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $3,614,323)—99.9% | | | | | | | 4,094,121 | |
| Net other assets (liabilities)—0.1% | | | | | | | 4,929 | |
| NET ASSETS—100.0% | | | | | | $ | 4,099,050 | |
| * | 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 the 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, 2023, the aggregate amount held in a segregated account was $525,000. |
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 | | 2/23/23 | | | 4.93 | % | | $ | 1,748,928 | | | $ | 31,375 | |
| S&P Communication Services Select Sector Index | | UBS AG | | 2/23/23 | | | 4.68 | % | | | 1,545,524 | | | | 23,447 | |
| | | | | | | | | | | $ | 3,294,452 | | | $ | 54,822 | |
| (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, 2023, 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.
46 :: Communication Services UltraSector ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Communication Services UltraSector ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Diversified Telecommunication Services | | $ | 389,742 | | | | 9.5 | % |
| Entertainment | | | 690,646 | | | | 16.9 | % |
| Interactive Media & Services | | | 1,169,895 | | | | 28.5 | % |
| Media | | | 480,178 | | | | 11.7 | % |
| Wireless Telecommunication Services | | | 127,660 | | | | 3.1 | % |
| Other** | | | 1,240,929 | | | | 30.3 | % |
| Total | | $ | 4,099,050 | | | | 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: Consumer Discretionary UltraSector ProFund† :: 47
Common Stocks (78.2%)
| | | Shares | | | Value | |
| ADT, Inc. (Diversified Consumer Services) | | | 1,069 | | | $ | 9,397 | |
| Advance Auto Parts, Inc. (Specialty Retail) | | | 299 | | | | 45,532 | |
| Airbnb, Inc.*—Class A (Hotels, Restaurants & Leisure) | | | 1,983 | | | | 220,331 | |
| Alaska Air Group, Inc.* (Airlines) | | | 632 | | | | 32,447 | |
| Albertsons Cos., Inc.—Class A (Food & Staples Retailing) | | | 799 | | | | 16,939 | |
| Altice USA, Inc.* (Media) | | | 1,069 | | | | 5,238 | |
| Amazon.com, Inc.* (Internet & Direct Marketing Retail) | | | 44,198 | | | | 4,558,139 | |
| AMC Entertainment Holdings, Inc.*(a) (Entertainment) | | | 2,574 | | | | 13,771 | |
| American Airlines Group, Inc.* (Airlines) | | | 3,236 | | | | 52,229 | |
| AmerisourceBergen Corp. (Health Care Providers & Services) | | | 806 | | | | 136,182 | |
| Aramark (Hotels, Restaurants & Leisure) | | | 1,283 | | | | 57,132 | |
| AutoNation, Inc.* (Specialty Retail) | | | 170 | | | | 21,542 | |
| AutoZone, Inc.* (Specialty Retail) | | | 95 | | | | 231,691 | |
| Avis Budget Group, Inc.* (Road & Rail) | | | 124 | | | | 24,805 | |
| Bath & Body Works, Inc. (Specialty Retail) | | | 1,137 | | | | 52,313 | |
| Best Buy Co., Inc. (Specialty Retail) | | | 998 | | | | 88,543 | |
| BJ’s Wholesale Club Holdings, Inc.* (Food & Staples Retailing) | | | 673 | | | | 48,772 | |
| Booking Holdings, Inc.* (Hotels, Restaurants & Leisure) | | | 193 | | | | 469,781 | |
| Boyd Gaming Corp. (Hotels, Restaurants & Leisure) | | | 395 | | | | 24,612 | |
| Bright Horizons Family Solutions, Inc.* (Diversified Consumer Services) | | | 288 | | | | 22,113 | |
| Burlington Stores, Inc.* (Specialty Retail) | | | 326 | | | | 74,925 | |
| Cable One, Inc. (Media) | | | 24 | | | | 18,957 | |
| Caesars Entertainment, Inc.* (Hotels, Restaurants & Leisure) | | | 1,068 | | | | 55,600 | |
| Cardinal Health, Inc. (Health Care Providers & Services) | | | 1,305 | | | | 100,811 | |
| CarMax, Inc.* (Specialty Retail) | | | 787 | | | | 55,444 | |
| Carnival Corp.*—Class A (Hotels, Restaurants & Leisure) | | | 4,987 | | | | 53,959 | |
| Carvana Co.*(a) (Specialty Retail) | | | 496 | | | | 5,044 | |
| Casey’s General Stores, Inc. (Food & Staples Retailing) | | | 186 | | | | 43,879 | |
| Charter Communications, Inc.*—Class A (Media) | | | 535 | | | | 205,606 | |
| Chegg, Inc.* (Diversified Consumer Services) | | | 625 | | | | 12,975 | |
| Chipotle Mexican Grill, Inc.* (Hotels, Restaurants & Leisure) | | | 138 | | | | 227,200 | |
| Choice Hotels International, Inc. (Hotels, Restaurants & Leisure) | | | 138 | | | | 16,959 | |
| Churchill Downs, Inc. (Hotels, Restaurants & Leisure) | | | 164 | | | | 40,688 | |
| Comcast Corp.—Class A (Media) | | | 21,480 | | | | 845,238 | |
| Copart, Inc.* (Commercial Services & Supplies) | | | 2,134 | | | | 142,146 | |
| Costco Wholesale Corp. (Food & Staples Retailing) | | | 2,204 | | | | 1,126,552 | |
| Darden Restaurants, Inc. (Hotels, Restaurants & Leisure) | | | 609 | | | | 90,114 | |
| Delta Air Lines, Inc.* (Airlines) | | | 3,193 | | | | 124,846 | |
| Dick’s Sporting Goods, Inc. (Specialty Retail) | | | 277 | | | | 36,221 | |
| DISH Network Corp.*—Class A (Media) | | | 1,252 | | | | 18,016 | |
| Dollar General Corp. (Multiline Retail) | | | 1,123 | | | | 262,333 | |
| Dollar Tree, Inc.* (Multiline Retail) | | | 1,048 | | | | 157,389 | |
| Domino’s Pizza, Inc. (Hotels, Restaurants & Leisure) | | | 176 | | | | 62,128 | |
| DraftKings, Inc.* (Hotels, Restaurants & Leisure) | | | 2,235 | | | | 33,503 | |
| Dutch Bros, Inc.*—Class A (Hotels, Restaurants & Leisure) | | | 147 | | | | 5,602 | |
| Endeavor Group Holdings, Inc.*—Class A (Entertainment) | | | 865 | | | | 19,402 | |
| Expedia Group, Inc.* (Hotels, Restaurants & Leisure) | | | 750 | | | | 85,725 | |
| Five Below, Inc.* (Specialty Retail) | | | 276 | | | | 54,408 | |
| Floor & Decor Holdings, Inc.* (Specialty Retail) | | | 528 | | | | 47,927 | |
| Foot Locker, Inc. (Specialty Retail) | | | 395 | | | | 17,186 | |
| Fox Corp.—Class A (Media) | | | 1,506 | | | | 51,114 | |
| Fox Corp.—Class B (Media) | | | 694 | | | | 22,000 | |
| GameStop Corp.*(a)—Class A (Specialty Retail) | | | 1,259 | | | | 27,534 | |
| Grand Canyon Education, Inc.* (Diversified Consumer Services) | | | 153 | | | | 17,834 | |
| H&R Block, Inc. (Diversified Consumer Services) | | | 774 | | | | 30,170 | |
| Hilton Worldwide Holdings, Inc. (Hotels, Restaurants & Leisure) | | | 1,347 | | | | 195,436 | |
| Hyatt Hotels Corp.*—Class A (Hotels, Restaurants & Leisure) | | | 240 | | | | 26,189 | |
| IAA, Inc.* (Commercial Services & Supplies) | | | 666 | | | | 27,792 | |
| JetBlue Airways Corp.* (Airlines) | | | 1,613 | | | | 12,904 | |
| Joby Aviation, Inc.*(a) (Airlines) | | | 1,455 | | | | 6,431 | |
| Kohl’s Corp. (Multiline Retail) | | | 581 | | | | 18,807 | |
| Las Vegas Sands Corp.* (Hotels, Restaurants & Leisure) | | | 1,636 | | | | 96,524 | |
| Liberty Broadband Corp.*—Class A (Media) | | | 81 | | | | 7,259 | |
| Liberty Broadband Corp.*—Class C (Media) | | | 596 | | | | 53,509 | |
| Liberty Media Corp-Liberty Braves*—Class A (Entertainment) | | | 51 | | | | 1,792 | |
| Liberty Media Corp-Liberty Braves*—Class C (Entertainment) | | | 184 | | | | 6,381 | |
| Liberty Media Corp-Liberty Formula One*— Class A (Entertainment) | | | 119 | | | | 7,578 | |
| Liberty Media Corp-Liberty Formula One*— Class C (Entertainment) | | | 1,028 | | | | 72,782 | |
| Liberty Media Corp-Liberty SiriusXM*— Class A (Media) | | | 371 | | | | 15,070 | |
| Liberty Media Corp-Liberty SiriusXM*— Class C (Media) | | | 762 | | | | 30,709 | |
| Light & Wonder, Inc.* (Hotels, Restaurants & Leisure) | | | 466 | | | | 30,407 | |
| Lithia Motors, Inc. (Specialty Retail) | | | 136 | | | | 35,795 | |
| Live Nation Entertainment, Inc.* (Entertainment) | | | 711 | | | | 57,228 | |
| LKQ Corp. (Distributors) | | | 1,264 | | | | 74,525 | |
| Lowe’s Cos., Inc. (Specialty Retail) | | | 3,091 | | | | 643,700 | |
| Lyft, Inc.* (Road & Rail) | | | 1,562 | | | | 25,383 | |
| Marriott International, Inc.—Class A (Hotels, Restaurants & Leisure) | | | 1,340 | | | | 233,427 | |
| Marriott Vacations Worldwide Corp. (Hotels, Restaurants & Leisure) | | | 191 | | | | 30,568 | |
| McDonald’s Corp. (Hotels, Restaurants & Leisure) | | | 3,647 | | | | 975,209 | |
See accompanying notes to the financial statements.
48 :: Consumer Discretionary UltraSector ProFund† :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| MGM Resorts International (Hotels, Restaurants & Leisure) | | | 1,587 | | | $ | 65,718 | |
| Murphy USA, Inc. (Specialty Retail) | | | 104 | | | | 28,291 | |
| Netflix, Inc.* (Entertainment) | | | 2,216 | | | | 784,154 | |
| News Corp.—Class A (Media) | | | 1,904 | | | | 38,575 | |
| News Corp.—Class B (Media) | | | 587 | | | | 11,998 | |
| Nexstar Media Group, Inc. (Media) | | | 188 | | | | 38,497 | |
| Norwegian Cruise Line Holdings, Ltd.*(a) (Hotels, Restaurants & Leisure) | | | 2,098 | | | | 31,911 | |
| Ollie’s Bargain Outlet Holdings, Inc.* (Multiline Retail) | | | 290 | | | | 15,880 | |
| Omnicom Group, Inc. (Media) | | | 1,015 | | | | 87,280 | |
| O’Reilly Automotive, Inc.* (Specialty Retail) | | | 312 | | | | 247,213 | |
| Paramount Global—Class A (Media) | | | 45 | | | | 1,199 | |
| Paramount Global—Class B (Media) | | | 2,515 | | | | 58,247 | |
| Penn Entertainment, Inc.* (Hotels, Restaurants & Leisure) | | | 772 | | | | 27,367 | |
| Penske Automotive Group, Inc. (Specialty Retail) | | | 124 | | | | 15,850 | |
| Petco Health & Wellness Co., Inc.* (Specialty Retail) | | | 397 | | | | 4,641 | |
| Pinterest, Inc.*—Class A (Interactive Media & Services) | | | 2,926 | | | | 76,924 | |
| Planet Fitness, Inc.* (Hotels, Restaurants & Leisure) | | | 415 | | | | 35,130 | |
| RH* (Specialty Retail) | | | 96 | | | | 29,951 | |
| Roku, Inc.* (Entertainment) | | | 607 | | | | 34,903 | |
| Rollins, Inc. (Commercial Services & Supplies) | | | 1,153 | | | | 41,969 | |
| Ross Stores, Inc. (Specialty Retail) | | | 1,728 | | | | 204,232 | |
| Royal Caribbean Cruises, Ltd.* (Hotels, Restaurants & Leisure) | | | 1,093 | | | | 70,979 | |
| Service Corp. International (Diversified Consumer Services) | | | 766 | | | | 56,798 | |
| Sirius XM Holdings, Inc.(a) (Media) | | | 3,486 | | | | 20,184 | |
| Southwest Airlines Co. (Airlines) | | | 2,957 | | | | 105,772 | |
| Sprouts Farmers Market, Inc.* (Food & Staples Retailing) | | | 527 | | | | 16,838 | |
| Starbucks Corp. (Hotels, Restaurants & Leisure) | | | 5,717 | | | | 623,953 | |
| Sysco Corp. (Food & Staples Retailing) | | | 2,524 | | | | 195,509 | |
| Target Corp. (Multiline Retail) | | | 2,292 | | | | 394,545 | |
| TEGNA, Inc. (Media) | | | 1,111 | | | | 22,142 | |
| Texas Roadhouse, Inc. (Hotels, Restaurants & Leisure) | | | 333 | | | | 33,443 | |
| The Gap, Inc. (Specialty Retail) | | | 1,050 | | | | 14,249 | |
| The Home Depot, Inc. (Specialty Retail) | | | 5,098 | | | | 1,652,618 | |
| The Interpublic Group of Cos., Inc. (Media) | | | 1,935 | | | | 70,550 | |
| The Kroger Co. (Food & Staples Retailing) | | | 3,244 | | | | 144,780 | |
| The Madison Square Garden Sports Corp.— Class A (Entertainment) | | | 91 | | | | 16,547 | |
| The New York Times Co.—Class A (Media) | | | 820 | | | | 28,569 | |
| The TJX Cos., Inc. (Specialty Retail) | | | 5,782 | | | | 473,315 | |
| The Walt Disney Co.* (Entertainment) | | | 9,078 | | | | 984,873 | |
| The Wendy’s Co. (Hotels, Restaurants & Leisure) | | | 849 | | | | 18,933 | |
| Tractor Supply Co. (Specialty Retail) | | | 550 | | | | 125,395 | |
| Trade Desk, Inc. (The)*—Class A (Software) | | | 2,217 | | | | 112,402 | |
| Uber Technologies, Inc.* (Road & Rail) | | | 9,932 | | | | 307,197 | |
| U-Haul Holding Co. (Road & Rail) | | | 439 | | | | 27,126 | |
| U-Haul Holding Co. (Road & Rail) | | | 49 | | | | 3,284 | |
| Ulta Beauty, Inc.* (Specialty Retail) | | | 255 | | | | 131,060 | |
| United Airlines Holdings, Inc.* (Airlines) | | | 1,627 | | | | 79,658 | |
| Vail Resorts, Inc. (Hotels, Restaurants & Leisure) | | | 201 | | | | 52,730 | |
| Victoria’s Secret & Co.* (Specialty Retail) | | | 405 | | | | 17,071 | |
| Walgreens Boots Alliance, Inc. (Food & Staples Retailing) | | | 3,574 | | | | 131,738 | |
| Walmart, Inc. (Food & Staples Retailing) | | | 7,029 | | | | 1,011,262 | |
| Warner Bros Discovery, Inc.* (Entertainment) | | | 11,005 | | | | 163,094 | |
| Warner Music Group Corp.—Class A (Entertainment) | | | 581 | | | | 21,177 | |
| Wayfair, Inc.*—Class A (Internet & Direct Marketing Retail) | | | 385 | | | | 23,293 | |
| Williams-Sonoma, Inc. (Specialty Retail) | | | 332 | | | | 44,800 | |
| World Wrestling Entertainment, Inc.— Class A (Entertainment) | | | 216 | | | | 18,278 | |
| Wyndham Hotels & Resorts, Inc. (Hotels, Restaurants & Leisure) | | | 440 | | | | 34,104 | |
| Wynn Resorts, Ltd.* (Hotels, Restaurants & Leisure) | | | 513 | | | | 53,167 | |
| Yum! Brands, Inc. (Hotels, Restaurants & Leisure) | | | 1,403 | | | | 183,106 | |
| ZoomInfo Technologies, Inc.*—Class A (Interactive Media & Services) | | | 1,347 | | | | 38,026 | |
TOTAL COMMON STOCKS
(Cost $6,774,321) | | | | | | | 22,408,844 | |
Repurchase Agreements(b)(c) (20.7%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $5,923,693 | | $ | 5,923,000 | | | $ | 5,923,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $5,923,000) | | | | | | | 5,923,000 | |
Collateral for Securities Loaned(d) (0.4%)
| | | Shares | | | Value | |
| Invesco Government & Agency Portfolio—Institutional Shares, 4.32%(e) | | | 104,643 | | | $ | 104,643 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $104,643) | | | | | | | 104,643 | |
TOTAL INVESTMENT SECURITIES
(Cost $12,801,964)—99.3% | | | | | | | 28,436,487 | |
| Net other assets (liabilities)—0.7% | | | | | | | 192,071 | |
| NET ASSETS—100.0% | | | | | | $ | 28,628,558 | |
| † | As described in Note 11, effective March 17, 2023, this ProFund’s name changed due to a change to its underlying benchmark index. |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $104,089. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to the 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.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Consumer Discretionary UltraSector ProFund† :: 49
| (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, 2023, the aggregate amount held in a segregated account was $3,728,000. |
| (d) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (e) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
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 | | 2/23/23 | | | 4.93 | % | | $ | 10,720,241 | | | $ | 254,958 | |
| Dow Jones U.S. Consumer Services Index | | UBS AG | | 2/23/23 | | | 4.68 | % | | | 9,854,204 | | | | 242,454 | |
| | | | | | | | | | | $ | 20,574,445 | | | $ | 497,412 | |
| (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, 2023, 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 Discretionary UltraSector ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Airlines | | $ | 414,287 | | | | 1.4 | % |
| Commercial Services & Supplies | | | 211,907 | | | | 0.7 | % |
| Distributors | | | 74,525 | | | | 0.3 | % |
| Diversified Consumer Services | | | 149,287 | | | | 0.5 | % |
| Entertainment | | | 2,201,960 | | | | 7.7 | % |
| Food & Staples Retailing | | | 2,736,269 | | | | 9.6 | % |
| Health Care Providers & Services | | | 236,993 | | | | 0.8 | % |
| Hotels, Restaurants & Leisure | | | 4,261,635 | | | | 14.9 | % |
| Interactive Media & Services | | | 114,950 | | | | 0.4 | % |
| Internet & Direct Marketing Retail | | | 4,581,432 | | | | 15.9 | % |
| Media | | | 1,649,957 | | | | 5.8 | % |
| Multiline Retail | | | 848,954 | | | | 3.0 | % |
| Road & Rail | | | 387,795 | | | | 1.3 | % |
| Software | | | 112,402 | | | | 0.4 | % |
| Specialty Retail | | | 4,426,491 | | | | 15.5 | % |
| Other** | | | 6,219,714 | | | | 21.8 | % |
| Total | | $ | 28,628,558 | | | | 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.
50 :: Consumer Staples UltraSector ProFund† :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks (70.2%)
| | | Shares | | | Value | |
| Activision Blizzard, Inc. (Entertainment) | | | 616 | | | $ | 47,168 | |
| Altria Group, Inc. (Tobacco) | | | 1,550 | | | | 69,812 | |
| Aptiv PLC* (Auto Components) | | | 234 | | | | 26,462 | |
| Archer-Daniels-Midland Co. (Food Products) | | | 475 | | | | 39,354 | |
| Autoliv, Inc. (Auto Components) | | | 67 | | | | 6,172 | |
| BorgWarner, Inc. (Auto Components) | | | 203 | | | | 9,598 | |
| Brown-Forman Corp.—Class B (Beverages) | | | 158 | | | | 10,520 | |
| Brunswick Corp. (Leisure Products) | | | 63 | | | | 5,313 | |
| Bunge, Ltd. (Food Products) | | | 130 | | | | 12,883 | |
| Campbell Soup Co. (Food Products) | | | 174 | | | | 9,036 | |
| Capri Holdings, Ltd.* (Textiles, Apparel & Luxury Goods) | | | 111 | | | | 7,380 | |
| Carter’s, Inc. (Textiles, Apparel & Luxury Goods) | | | 33 | | | | 2,751 | |
| Celsius Holdings, Inc.* (Beverages) | | | 35 | | | | 3,511 | |
| Church & Dwight Co., Inc. (Household Products) | | | 211 | | | | 17,061 | |
| Colgate-Palmolive Co. (Household Products) | | | 723 | | | | 53,885 | |
| Columbia Sportswear Co. (Textiles, Apparel & Luxury Goods) | | | 31 | | | | 2,973 | |
| Conagra Brands, Inc. (Food Products) | | | 415 | | | | 15,434 | |
| Constellation Brands, Inc.—Class A (Beverages) | | | 140 | | | | 32,413 | |
| Coty, Inc.*—Class A (Personal Products) | | | 316 | | | | 3,147 | |
| Crocs, Inc.* (Textiles, Apparel & Luxury Goods) | | | 53 | | | | 6,454 | |
| D.R. Horton, Inc. (Household Durables) | | | 271 | | | | 26,744 | |
| Darling Ingredients, Inc.* (Food Products) | | | 139 | | | | 9,214 | |
| Deckers Outdoor Corp.* (Textiles, Apparel & Luxury Goods) | | | 23 | | | | 9,832 | |
| Electronic Arts, Inc. (Entertainment) | | | 227 | | | | 29,210 | |
| Flowers Foods, Inc. (Food Products) | | | 166 | | | | 4,597 | |
| Ford Motor Co. (Automobiles) | | | 3,417 | | | | 46,164 | |
| Fox Factory Holding Corp.* (Auto Components) | | | 37 | | | | 4,369 | |
| General Mills, Inc. (Food Products) | | | 513 | | | | 40,199 | |
| General Motors Co. (Automobiles) | | | 1,229 | | | | 48,324 | |
| Gentex Corp. (Auto Components) | | | 203 | | | | 5,991 | |
| Genuine Parts Co. (Distributors) | | | 122 | | | | 20,474 | |
| Hanesbrands, Inc. (Textiles, Apparel & Luxury Goods) | | | 302 | | | | 2,549 | |
| Harley-Davidson, Inc. (Automobiles) | | | 115 | | | | 5,293 | |
| Hasbro, Inc. (Leisure Products) | | | 112 | | | | 6,627 | |
| Helen of Troy, Ltd.* (Household Durables) | | | 21 | | | | 2,375 | |
| Hormel Foods Corp. (Food Products) | | | 250 | | | | 11,328 | |
| Ingredion, Inc. (Food Products) | | | 57 | | | | 5,860 | |
| Kellogg Co. (Food Products) | | | 221 | | | | 15,156 | |
| Keurig Dr Pepper, Inc. (Beverages) | | | 735 | | | | 25,931 | |
| Kimberly-Clark Corp. (Household Products) | | | 292 | | | | 37,963 | |
| Lamb Weston Holding, Inc. (Food Products) | | | 124 | | | | 12,386 | |
| Lancaster Colony Corp. (Food Products) | | | 17 | | | | 3,262 | |
| Lear Corp. (Auto Components) | | | 51 | | | | 7,435 | |
| Leggett & Platt, Inc. (Household Durables) | | | 115 | | | | 4,204 | |
| Lennar Corp.—Class A (Household Durables) | | | 220 | | | | 22,528 | |
| Lennar Corp.—Class B (Household Durables) | | | 13 | | | | 1,123 | |
| Levi Strauss & Co. (Textiles, Apparel & Luxury Goods) | | | 84 | | | | 1,546 | |
| Lucid Group, Inc.*(a) (Automobiles) | | | 509 | | | | 5,950 | |
| Lululemon Athletica, Inc.* (Textiles, Apparel & Luxury Goods) | | | 100 | | | | 30,688 | |
| Mattel, Inc.* (Leisure Products) | | | 307 | | | | 6,281 | |
| McCormick & Co., Inc. (Food Products) | | | 217 | | | | 16,301 | |
| Mohawk Industries, Inc.* (Household Durables) | | | 46 | | | | 5,523 | |
| Molson Coors Beverage Co.—Class B (Beverages) | | | 163 | | | | 8,571 | | |
| Mondelez International, Inc.—Class A (Food Products) | | | 1,181 | | | | 77,284 | | |
| Monster Beverage Corp.* (Beverages) | | | 329 | | | | 34,242 | | |
| National Beverage Corp.* (Beverages) | | | 20 | | | | 884 | | |
| Newell Brands, Inc. (Household Durables) | | | 326 | | | | 5,203 | | |
| NIKE, Inc.—Class B (Textiles, Apparel & Luxury Goods) | | | 1,090 | | | | 138,789 | | |
| NVR, Inc.* (Household Durables) | | | 3 | | | | 15,810 | | |
| Olaplex Holdings, Inc.* (Personal Products) | | | 73 | | | | 461 | | |
| Peloton Interactive, Inc.*—Class A (Leisure Products) | | | 271 | | | | 3,504 | | |
| PepsiCo, Inc. (Beverages) | | | 1,192 | | | | 203,855 | | |
| Performance Food Group Co.* (Food & Staples Retailing) | | | 135 | | | | 8,278 | | |
| Philip Morris International, Inc. (Tobacco) | | | 1,341 | | | | 139,786 | | |
| Pilgrim’s Pride Corp.* (Food Products) | | | 39 | | | | 947 | | |
| Playtika Holding Corp.* (Entertainment) | | | 78 | | | | 818 | | |
| Polaris, Inc. (Leisure Products) | | | 47 | | | | 5,397 | | |
| Pool Corp. (Distributors) | | | 34 | | | | 13,111 | | |
| Post Holdings, Inc.* (Food Products) | | | 47 | | | | 4,463 | | |
| PulteGroup, Inc. (Household Durables) | | | 197 | | | | 11,207 | | |
| PVH Corp. (Textiles, Apparel & Luxury Goods) | | | 56 | | | | 5,034 | | |
| QuantumScape Corp.*(a) (Auto Components) | | | 241 | | | | 2,051 | | |
| Ralph Lauren Corp. (Textiles, Apparel & Luxury Goods) | | | 36 | | | | 4,459 | | |
| Reynolds Consumer Products, Inc. (Household Products) | | | 47 | | | | 1,399 | | |
| Rivian Automotive, Inc.*(a)—Class A (Automobiles) | | | 474 | | | | 9,196 | | |
| ROBLOX Corp.*—Class A (Entertainment) | | | 314 | | | | 11,684 | | |
| Skechers U.S.A., Inc.*—Class A (Textiles, Apparel & Luxury Goods) | | | 116 | | | | 5,585 | | |
| Stanley Black & Decker, Inc. (Machinery) | | | 128 | | | | 11,432 | | |
| Take-Two Interactive Software, Inc.* (Entertainment) | | | 136 | | | | 15,399 | | |
| Tapestry, Inc. (Textiles, Apparel & Luxury Goods) | | | 208 | | | | 9,479 | | |
| Tempur Sealy International, Inc. (Household Durables) | | | 148 | | | | 6,031 | | |
| Tesla, Inc.* (Automobiles) | | | 2,322 | | | | 402,218 | | |
| The Boston Beer Co., Inc.*—Class A (Beverages) | | | 8 | | | | 3,109 | | |
| The Clorox Co. (Household Products) | | | 107 | | | | 15,482 | | |
| The Coca-Cola Co. (Beverages) | | | 3,367 | | | | 206,463 | | |
| The Estee Lauder Cos., Inc. (Personal Products) | | | 200 | | | | 55,416 | | |
| The Hershey Co. (Food Products) | | | 127 | | | | 28,524 | | |
| The JM Smucker Co.—Class A (Food Products) | | | 92 | | | | 14,058 | | |
| The Kraft Heinz Co. (Food Products) | | | 689 | | | | 27,925 | | |
| The Procter & Gamble Co. (Household Products) | | | 2,050 | | | | 291,880 | | |
| Thor Industries, Inc. (Automobiles) | | | 46 | | | | 4,385 | | |
| Toll Brothers, Inc. (Household Durables) | | | 91 | | | | 5,414 | | |
| TopBuild Corp.* (Household Durables) | | | 28 | | | | 5,602 | | |
| Topgolf Callaway Brands Corp.* (Leisure Products) | | | 120 | | | | 2,939 | | |
| Tyson Foods, Inc.—Class A (Food Products) | | | 251 | | | | 16,503 | | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Consumer Staples UltraSector ProFund† :: 51
Common Stocks, continued
| | | Shares | | | Value | |
| Under Armour, Inc.*—Class A (Textiles, Apparel & Luxury Goods) | | | 163 | | | $ | 2,020 | |
| Under Armour, Inc.*—Class C (Textiles, Apparel & Luxury Goods) | | | 170 | | | | 1,853 | |
| US Foods Holding Corp.* (Food & Staples Retailing) | | | 177 | | | | 6,749 | |
| VF Corp. (Textiles, Apparel & Luxury Goods) | | | 286 | | | | 8,849 | |
| Whirlpool Corp. (Household Durables) | | | 47 | | | | 7,313 | |
| YETI Holdings, Inc.* (Leisure Products) | | | 75 | | | | 3,357 | |
TOTAL COMMON STOCKS
(Cost $947,978) | | | | | | | 2,721,172 | |
Repurchase Agreements(b)(c) (18.7%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $725,085 | | $ | 725,000 | | | $ | 725,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $725,000) | | | | | | | 725,000 | |
Collateral for Securities Loaned(d) (0.4%)
| | | Shares | | | Value | |
| Invesco Government & Agency Portfolio—Institutional Shares, 4.32%(e) | | | 16,620 | | | $ | 16,620 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $16,620) | | | | | | | 16,620 | |
TOTAL INVESTMENT SECURITIES
(Cost $1,689,598)—89.3% | | | | | | | 3,462,792 | |
| Net other assets (liabilities)—10.7% | | | | | | | 412,891 | |
| NET ASSETS—100.0% | | | | | | $ | 3,875,683 | |
| † | As described in Note 11, effective March 17, 2023, this ProFund’s name changed due to a change to its underlying benchmark index. |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $16,944. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $325,000. |
| (d) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (e) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
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 | | 2/23/23 | | | 4.93 | % | | $ | 1,150,097 | | | $ | 37,582 | |
| Dow Jones U.S. Consumer Goods Index | | UBS AG | | 2/23/23 | | | 4.68 | % | | | 1,914,607 | | | | 54,780 | |
| | | | | | | | | | | $ | 3,064,704 | | | $ | 92,362 | |
| (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, 2023, 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.
52 :: Consumer Staples UltraSector ProFund† :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Consumer Staples UltraSector ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Auto Components | | $ | 62,078 | | | | 1.6 | % |
| Automobiles | | | 521,529 | | | | 13.4 | % |
| Beverages | | | 529,500 | | | | 13.6 | % |
| Distributors | | | 33,585 | | | | 0.9 | % |
| Entertainment | | | 104,279 | | | | 2.7 | % |
| Food & Staples Retailing | | | 15,027 | | | | 0.4 | % |
| Food Products | | | 364,714 | | | | 9.4 | % |
| Household Durables | | | 119,077 | | | | 3.1 | % |
| Household Products | | | 417,670 | | | | 10.8 | % |
| Leisure Products | | | 33,418 | | | | 0.9 | % |
| Machinery | | | 11,432 | | | | 0.3 | % |
| Personal Products | | | 59,024 | | | | 1.5 | % |
| Textiles, Apparel & Luxury Goods | | | 240,241 | | | | 6.2 | % |
| Tobacco | | | 209,598 | | | | 5.4 | % |
| Other** | | | 1,154,511 | | | | 29.8 | % |
| Total | | $ | 3,875,683 | | | | 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: Energy UltraSector ProFund† :: 53
Common Stocks (78.1%)
| | | Shares | | | Value | |
| Antero Resources Corp.* (Oil, Gas & Consumable Fuels) | | | 6,229 | | | $ | 179,644 | |
| APA Corp. (Oil, Gas & Consumable Fuels) | | | 7,249 | | | | 321,348 | |
| Baker Hughes Co. (Energy Equipment & Services) | | | 22,592 | | | | 717,070 | |
| Cheniere Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 5,609 | | | | 856,999 | |
| Chesapeake Energy Corp.(a) (Oil, Gas & Consumable Fuels) | | | 2,418 | | | | 209,689 | |
| Chevron Corp. (Oil, Gas & Consumable Fuels) | | | 40,115 | | | | 6,980,812 | |
| ConocoPhillips (Oil, Gas & Consumable Fuels) | | | 28,110 | | | | 3,425,766 | |
| Coterra Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 17,787 | | | | 445,209 | |
| Devon Energy Corp. (Oil, Gas & Consumable Fuels) | | | 14,747 | | | | 932,600 | |
| Diamondback Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 3,970 | | | | 580,096 | |
| DT Midstream, Inc. (Oil, Gas & Consumable Fuels) | | | 2,183 | | | | 119,323 | |
| EOG Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 13,251 | | | | 1,752,445 | |
| EQT Corp. (Oil, Gas & Consumable Fuels) | | | 8,280 | | | | 270,508 | |
| Equitrans Midstream Corp. (Oil, Gas & Consumable Fuels) | | | 9,763 | | | | 70,782 | |
| Exxon Mobil Corp. (Oil, Gas & Consumable Fuels) | | | 92,896 | | | | 10,776,864 | |
| First Solar, Inc.* (Semiconductors & Semiconductor Equipment) | | | 2,237 | | | | 397,291 | |
| Halliburton Co. (Energy Equipment & Services) | | | 20,485 | | | | 844,392 | |
| Hess Corp. (Oil, Gas & Consumable Fuels) | | | 6,260 | | | | 940,002 | |
| HF Sinclair Corp. (Oil, Gas & Consumable Fuels) | | | 3,034 | | | | 172,635 | |
| Kinder Morgan, Inc. (Oil, Gas & Consumable Fuels) | | | 44,622 | | | | 816,583 | |
| Marathon Oil Corp. (Oil, Gas & Consumable Fuels) | | | 14,326 | | | | 393,535 | |
| Marathon Petroleum Corp. (Oil, Gas & Consumable Fuels) | | | 10,573 | | | | 1,358,842 | |
| Matador Resources Co. (Oil, Gas & Consumable Fuels) | | | 2,532 | | | | 167,517 | |
| New Fortress Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 1,083 | | | | 42,010 | |
| NOV, Inc. (Energy Equipment & Services) | | | 8,861 | | | | 216,563 | |
| Occidental Petroleum Corp. (Oil, Gas & Consumable Fuels) | | | 16,403 | | | | 1,062,750 | |
| OGE Energy Corp. (Electric Utilities) | | | 4,516 | | | | 177,569 | |
| ONEOK, Inc. (Oil, Gas & Consumable Fuels) | | | 10,083 | | | | 690,484 | |
| Ovintiv, Inc. (Oil, Gas & Consumable Fuels) | | | 5,601 | | | | 275,737 | |
| PDC Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 2,079 | | | | 140,811 | |
| Phillips 66 (Oil, Gas & Consumable Fuels) | | | 10,670 | | | | 1,069,881 | |
| Pioneer Natural Resources Co. (Oil, Gas & Consumable Fuels) | | | 5,360 | | | | 1,234,676 | |
| Plug Power, Inc.* (Electrical Equipment) | | | 11,835 | | | | 201,432 | |
| Range Resources Corp. (Oil, Gas & Consumable Fuels) | | | 5,451 | | | | 136,384 | |
| Schlumberger, Ltd. (Energy Equipment & Services) | | | 31,989 | | | | 1,822,733 | |
| Southwestern Energy Co.* (Oil, Gas & Consumable Fuels) | | | 24,896 | | | | 137,426 | |
| Targa Resources Corp. (Oil, Gas & Consumable Fuels) | | | 5,107 | | | | 383,127 | |
| TechnipFMC PLC* (Energy Equipment & Services) | | | 10,071 | | | | 139,886 | |
| Texas Pacific Land Corp. (Oil, Gas & Consumable Fuels) | | | 139 | | | | 277,423 | |
| The Williams Cos., Inc. (Oil, Gas & Consumable Fuels) | | | 27,477 | | | | 885,858 | |
| Valero Energy Corp. (Oil, Gas & Consumable Fuels) | | | 8,694 | | | | 1,217,421 | |
| Vitesse Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 486 | | | | 7,757 | |
TOTAL COMMON STOCKS
(Cost $19,973,377) | | | | | | | 42,849,880 | |
Repurchase Agreements(b)(c) (21.6%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $11,877,389 | | $ | 11,876,000 | | | $ | 11,876,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $11,876,000) | | | | | | | 11,876,000 | |
Collateral for Securities Loaned(d) (0.4%)
| | | Shares | | | Value | |
| Invesco Government & Agency Portfolio—Institutional Shares, 4.32%(e) | | | 212,696 | | | $ | 212,696 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $212,696) | | | | | | | 212,696 | |
TOTAL INVESTMENT SECURITIES
(Cost $32,062,073)—100.1% | | | | | | | 54,938,576 | |
| Net other assets (liabilities)—(0.1)% | | | | | | | (49,086 | ) |
| NET ASSETS—100.0% | | | | | | $ | 54,889,490 | |
| † | As described in Note 11, effective March 17, 2023, this ProFund’s name changed due to a change to its underlying benchmark index. |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $209,602. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $8,185,000. |
| (d) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (e) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
See accompanying notes to the financial statements.
54 :: Energy UltraSector ProFund† :: Schedule of Portfolio Investments :: January 31, 2023 (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 | | 2/23/23 | | | 4.93 | % | | $ | 20,143,967 | | | $ | (161,709 | ) |
| Dow Jones U.S. Oil & Gas Index | | UBS AG | | 2/23/23 | | | 4.58 | % | | | 19,482,478 | | | | (113,520 | ) |
| | | | | | | | | | | $ | 39,626,445 | | | $ | (275,229 | ) |
| (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, 2023, 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). |
Energy UltraSector ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Electric Utilities | | $ | 177,569 | | | | 0.3 | % |
| Electrical Equipment | | | 201,432 | | | | 0.4 | % |
| Energy Equipment & Services | | | 3,740,644 | | | | 6.8 | % |
| Oil, Gas & Consumable Fuels | | | 38,332,944 | | | | 69.9 | % |
| Semiconductors & Semiconductor Equipment | | | 397,291 | | | | 0.7 | % |
| Other** | | | 12,039,610 | | | | 21.9 | % |
| Total | | $ | 54,889,490 | | | | 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: Europe 30 ProFund :: 55
Common Stocks (99.5%)
| | | Shares | | | Value | |
| Anheuser-Busch InBev N.V.ADR(a) (Beverages) | | | 1,743 | | | $ | 105,085 | |
| ArcelorMittal SANYS—Class A (Metals & Mining) | | | 2,201 | | | | 68,099 | |
| Argenx SE*ADR (Biotechnology) | | | 153 | | | | 58,484 | |
| Ascendis Pharma A/S*ADR (Biotechnology) | | | 428 | | | | 53,106 | |
| ASML Holding N.V.NYS (Semiconductors & Semiconductor Equipment) | | | 245 | | | | 161,906 | |
| AstraZeneca PLCADR (Pharmaceuticals) | | | 1,712 | | | | 111,914 | |
| Barclays PLCADR (Banks) | | | 7,950 | | | | 73,776 | |
| BioNTech SEADR (Biotechnology) | | | 214 | | | | 30,690 | |
| BP PLCADR (Oil, Gas & Consumable Fuels) | | | 2,813 | | | | 101,915 | |
| British American Tobacco PLCADR (Tobacco) | | | 2,232 | | | | 85,910 | |
| CRH PLCADR(a) (Construction Materials) | | | 1,529 | | | | 71,985 | |
| Diageo PLCADR (Beverages) | | | 520 | | | | 91,962 | |
| Equinor ASAADR(a) (Oil, Gas & Consumable Fuels) | | | 2,782 | | | | 84,656 | |
| GSK PLCADR (Pharmaceuticals) | | | 1,590 | | | | 56,063 | |
| HSBC Holdings PLCADR (Banks) | | | 3,394 | | | | 125,374 | |
| ING Groep N.V.ADR (Banks) | | | 5,626 | | | | 81,183 | |
| Koninklijke Philips N.V.NYS (Health Care Equipment & Supplies) | | | 3,516 | | | | 60,194 | |
| National Grid PLCADR (Multi-Utilities) | | | 1,131 | | | | 72,124 | |
| Nokia Corp.ADR (Communications Equipment) | | | 12,781 | | | | 60,838 | |
| NOVO Nordisk A/SADR (Pharmaceuticals) | | | 1,131 | | | | 156,960 | |
| RELX PLCADR (Professional Services) | | | 2,599 | | | | 77,216 | |
| Rio Tinto PLCADR(a) (Metals & Mining) | | | 1,437 | | | | 114,026 | |
| Ryanair Holdings PLC*ADR (Airlines) | | | 734 | | | | 66,449 | |
| SanofiADR (Pharmaceuticals) | | | 1,131 | | | | 55,577 | |
| SAP SEADR(a) (Software) | | | 1,040 | | | | 123,271 | |
| Shell PLCADR (Oil, Gas & Consumable Fuels) | | | 2,507 | | | | 147,437 | |
| Telefonaktiebolaget LM EricssonADR (Communications Equipment) | | | 9,570 | | | | 55,219 | |
| Tenaris S.A.ADR (Energy Equipment & Services) | | | 1,621 | | | | 57,464 | |
| TotalEnergies SEADR (Oil, Gas & Consumable Fuels) | | | 1,987 | | | | 123,274 | |
| Vodafone Group PLCADR (Wireless Telecommunication Services) | | | 5,932 | | | | 68,693 | |
TOTAL COMMON STOCKS
(Cost $1,703,547) | | | | | | | 2,600,850 | |
| | | | | | | | | |
| Collateral for Securities Loaned(b) (19.6%) | | | | | | |
| | | | | | | |
| Invesco Government & Agency Portfolio—Institutional Shares, 4.32%(c) | | | 513,713 | | | | 513,713 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $513,713) | | | | | | | 513,713 | |
TOTAL INVESTMENT SECURITIES
(Cost $2,217,260)—119.1% | | | | | | | 3,114,563 | |
| Net other assets (liabilities)—(19.1)% | | | | | | | (499,670 | ) |
| NET ASSETS—100.0% | | | | | | $ | 2,614,893 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $497,594. |
| (b) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (c) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
| ADR | American Depositary Receipt |
| NYS | New York Shares |
Europe 30 ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Airlines | | $ | 66,449 | | | | 2.5 | % |
| Banks | | | 280,334 | | | | 10.7 | % |
| Beverages | | | 197,048 | | | | 7.5 | % |
| Biotechnology | | | 142,280 | | | | 5.4 | % |
| Communications Equipment | | | 116,056 | | | | 4.4 | % |
| Construction Materials | | | 71,985 | | | | 2.8 | % |
| Energy Equipment & Services | | | 57,464 | | | | 2.2 | % |
| Health Care Equipment & Supplies | | | 60,194 | | | | 2.3 | % |
| Metals & Mining | | | 182,125 | | | | 7.0 | % |
| Multi-Utilities | | | 72,124 | | | | 2.8 | % |
| Oil, Gas & Consumable Fuels | | | 457,281 | | | | 17.5 | % |
| Pharmaceuticals | | | 380,514 | | | | 14.6 | % |
| Professional Services | | | 77,216 | | | | 3.0 | % |
| Semiconductors & Semiconductor Equipment | | | 161,906 | | | | 6.2 | % |
| Software | | | 123,271 | | | | 4.7 | % |
| Tobacco | | | 85,910 | | | | 3.3 | % |
| Wireless Telecommunication Services | | | 68,693 | | | | 2.6 | % |
| Other** | | | 14,043 | | | | 0.5 | % |
| Total | | $ | 2,614,893 | | | | 100.0 | % |
Europe 30 ProFund invested in securities with exposure to the following countries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Belgium | | $ | 105,085 | | | | 4.0 | % |
| Denmark | | | 210,066 | | | | 8.0 | % |
| Finland | | | 60,838 | | | | 2.3 | % |
| France | | | 178,851 | | | | 6.8 | % |
| Germany | | | 153,961 | | | | 5.9 | % |
| Ireland | | | 138,434 | | | | 5.3 | % |
| Luxembourg | | | 125,563 | | | | 4.8 | % |
| Netherlands | | | 509,204 | | | | 19.6 | % |
| Norway | | | 84,656 | | | | 3.2 | % |
| Sweden | | | 55,219 | | | | 2.1 | % |
| United Kingdom | | | 978,973 | | | | 37.5 | % |
| Other** | | | 14,043 | | | | 0.5 | % |
| Total | | $ | 2,614,893 | | | | 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.
56 :: Falling U.S. Dollar ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Repurchase Agreements(a)(b) (98.8%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $3,054,357 | | $ | 3,054,000 | | | $ | 3,054,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $3,054,000) | | | | | | | 3,054,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $3,054,000)—98.8% | | | | | | | 3,054,000 | |
| Net other assets (liabilities)—1.2% | | | | | | | 36,761 | |
| NET ASSETS—100.0% | | | | | | $ | 3,090,761 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $107,000. |
As of January 31, 2023, 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) | |
| Short: | | | | | | | | | | |
| U.S. dollar | | $ | 14,251 | | | British pound | | | 11,544 | | | 2/3/23 | | $ | 14,230 | | | $ | 21 | |
| U.S. dollar | | | 4,250 | | | Canadian dollar | | | 5,736 | | | 2/3/23 | | | 4,312 | | | | (62 | ) |
| U.S. dollar | | | 60,593 | | | Euro | | | 56,087 | | | 2/3/23 | | | 60,977 | | | | (384 | ) |
| U.S. dollar | | | 19,388 | | | Japanese yen | | | 2,493,667 | | | 2/3/23 | | | 19,167 | | | | 221 | |
| U.S. dollar | | | 4,295 | | | Swedish krona | | | 44,353 | | | 2/3/23 | | | 4,244 | | | | 51 | |
| U.S. dollar | | | 3,450 | | | Swiss franc | | | 3,158 | | | 2/3/23 | | | 3,452 | | | | (2 | ) |
| Total Short Contracts | | $ | 106,227 | | | | | | | | | | | $ | 106,382 | | | $ | (155 | ) |
| Long: | | | | | | | | | | | | | | | | | | | | |
| British pound | | | 131,872 | | | U.S. dollar | | $ | 160,838 | | | 2/3/23 | | $ | 162,555 | | | $ | 1,717 | |
| Canadian dollar | | | 175,689 | | | U.S. dollar | | | 130,803 | | | 2/3/23 | | | 132,060 | | | | 1,257 | |
| Euro | | | 694,414 | | | U.S. dollar | | | 750,218 | | | 2/3/23 | | | 754,967 | | | | 4,749 | |
| Japanese yen | | | 20,090,202 | | | U.S. dollar | | | 152,986 | | | 2/3/23 | | | 154,421 | | | | 1,435 | |
| Swedish krona | | | 469,147 | | | U.S. dollar | | | 45,090 | | | 2/3/23 | | | 44,888 | | | | (202 | ) |
| Swiss franc | | | 42,472 | | | U.S. dollar | | | 45,921 | | | 2/3/23 | | | 46,422 | | | | 501 | |
| Total Long Contracts | | | | | | | | $ | 1,285,856 | | | | | $ | 1,295,313 | | | $ | 9,457 | |
As of January 31, 2023, 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 | | $ | 33,927 | | | British pound | | | 27,372 | | | 2/3/23 | | $ | 33,740 | | | $ | 187 | |
| U.S. dollar | | | 27,136 | | | Canadian dollar | | | 36,237 | | | 2/3/23 | | | 27,238 | | | | (102 | ) |
| U.S. dollar | | | 161,994 | | | Euro | | | 148,661 | | | 2/3/23 | | | 161,624 | | | | 370 | |
| U.S. dollar | | | 40,439 | | | Japanese yen | | | 5,243,123 | | | 2/3/23 | | | 40,301 | | | | 138 | |
| U.S. dollar | | | 10,968 | | | Swedish krona | | | 112,430 | | | 2/3/23 | | | 10,757 | | | | 211 | |
| U.S. dollar | | | 10,229 | | | Swiss franc | | | 9,399 | | | 2/3/23 | | | 10,273 | | | | (44 | ) |
| Total Short Contracts | | $ | 284,693 | | | | | | | | | | | $ | 283,933 | | | $ | 760 | |
| Long: | | | | | | | | | | | | | | | | | | | | |
| British pound | | | 203,241 | | | U.S. dollar | | $ | 246,845 | | | 2/3/23 | | $ | 250,530 | | | $ | 3,685 | |
| Canadian dollar | | | 239,675 | | | U.S. dollar | | | 178,402 | | | 2/3/23 | | | 180,156 | | | | 1,754 | |
| Euro | | | 1,144,253 | | | U.S. dollar | | | 1,234,777 | | | 2/3/23 | | | 1,244,032 | | | | 9,255 | |
| Japanese yen | | | 42,067,555 | | | U.S. dollar | | | 318,408 | | | 2/3/23 | | | 323,347 | | | | 4,939 | |
| Swedish krona | | | 1,022,159 | | | U.S. dollar | | | 97,818 | | | 2/3/23 | | | 97,799 | | | | (19 | ) |
| Swiss franc | | | 72,260 | | | U.S. dollar | | | 77,947 | | | 2/3/23 | | | 78,980 | | | | 1,033 | |
| Total Long Contracts | | | | | | | | $ | 2,154,197 | | | | | $ | 2,174,844 | | | $ | 20,647 | |
| Total unrealized appreciation | | | $ | 31,524 | |
| Total unrealized (depreciation) | | | | (815 | ) |
| Total net unrealized appreciation/(depreciation) | | | $ | 30,709 | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Financials UltraSector ProFund :: 57
Common Stocks (75.4%)
| | | Shares | | | Value | |
| Affiliated Managers Group, Inc. (Capital Markets) | | | 24 | | | $ | 4,146 | |
| Aflac, Inc. (Insurance) | | | 358 | | | | 26,313 | |
| AGNC Investment Corp. (Mortgage Real Estate Investment Trusts (REITs)) | | | 362 | | | | 4,199 | |
| Agree Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 56 | | | | 4,179 | |
| Alexandria Real Estate Equities, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 95 | | | | 15,270 | |
| Ally Financial, Inc. (Consumer Finance) | | | 189 | | | | 6,141 | |
| American Express Co. (Consumer Finance) | | | 379 | | | | 66,298 | |
| American Financial Group, Inc. (Insurance) | | | 44 | | | | 6,274 | |
| American Homes 4 Rent—Class A (Equity Real Estate Investment Trusts (REITs)) | | | 194 | | | | 6,652 | |
| American International Group, Inc. (Insurance) | | | 471 | | | | 29,777 | |
| American Tower Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 295 | | | | 65,900 | |
| Americold Realty Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 171 | | | | 5,371 | |
| Ameriprise Financial, Inc. (Capital Markets) | | | 67 | | | | 23,458 | |
| Annaly Capital Management, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 296 | | | | 6,947 | |
| Aon PLC (Insurance) | | | 131 | | | | 41,747 | |
| Apartment Income REIT Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 95 | | | | 3,635 | |
| Apollo Global Management, Inc. (Diversified Financial Services) | | | 276 | | | | 19,535 | |
| Arch Capital Group, Ltd.* (Insurance) | | | 234 | | | | 15,058 | |
| Ares Management Corp.—Class A (Capital Markets) | | | 99 | | | | 8,216 | |
| Arthur J. Gallagher & Co. (Insurance) | | | 134 | | | | 26,226 | |
| Assurant, Inc. (Insurance) | | | 33 | | | | 4,375 | |
| AvalonBay Communities, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 89 | | | | 15,792 | |
| Axis Capital Holdings, Ltd. (Insurance) | | | 49 | | | | 3,066 | |
| Bank of America Corp. (Banks) | | | 4,421 | | | | 156,858 | |
| Bank OZK (Banks) | | | 70 | | | | 3,197 | |
| Berkshire Hathaway, Inc.*—Class B (Diversified Financial Services) | | | 1,141 | | | | 355,445 | |
| BlackRock, Inc.—Class A (Capital Markets) | | | 95 | | | | 72,125 | |
| Blackstone Group, Inc.—Class A (Capital Markets) | | | 445 | | | | 42,702 | |
| Blackstone Mortgage Trust, Inc.—Class A (Mortgage Real Estate Investment Trusts (REITs)) | | | 108 | | | | 2,575 | |
| Blue Owl Capital, Inc. (Capital Markets) | | | 222 | | | | 2,793 | |
| BOK Financial Corp. (Banks) | | | 18 | | | | 1,809 | |
| Boston Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 90 | | | | 6,709 | |
| Brighthouse Financial, Inc.* (Insurance) | | | 44 | | | | 2,476 | |
| Brixmor Property Group, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 190 | | | | 4,471 | |
| Brown & Brown, Inc. (Insurance) | | | 149 | | | | 8,725 | |
| Camden Property Trust (Equity Real Estate Investment Trusts (REITs)) | | | 67 | | | | 8,255 | |
| Capital One Financial Corp. (Consumer Finance) | | | 242 | | | | 28,798 | |
| Cboe Global Markets, Inc. (Capital Markets) | | | 67 | | | | 8,233 | |
| CBRE Group, Inc.*—Class A (Real Estate Management & Development) | | | 200 | | | | 17,101 | |
| Chubb, Ltd. (Insurance) | | | 263 | | | | 59,830 | |
| Cincinnati Financial Corp. (Insurance) | | | 100 | | | | 11,315 | |
| Citigroup, Inc. (Banks) | | | 1,227 | | | | 64,074 | |
| Citizens Financial Group, Inc. (Banks) | | | 312 | | | | 13,516 | |
| CME Group, Inc. (Capital Markets) | | | 228 | | | | 40,278 | |
| CNA Financial Corp. (Insurance) | | | 17 | | | | 741 | |
| Coinbase Global, Inc.*(a)—Class A (Capital Markets) | | | 101 | | | | 5,906 | |
| Comerica, Inc. (Banks) | | | 83 | | | | 6,085 | |
| Commerce Bancshares, Inc. (Banks) | | | 72 | | | | 4,792 | |
| Corporate Office Properties Trust (Equity Real Estate Investment Trusts (REITs)) | | | 71 | | | | 1,993 | |
| CoStar Group, Inc.* (Professional Services) | | | 258 | | | | 20,098 | |
| Cousins Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 96 | | | | 2,632 | |
| Credit Acceptance Corp.* (Consumer Finance) | | | 4 | | | | 1,851 | |
| Crown Castle, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 274 | | | | 40,582 | |
| CubeSmart (Equity Real Estate Investment Trusts (REITs)) | | | 142 | | | | 6,502 | |
| Cullen/Frost Bankers, Inc. (Banks) | | | 41 | | | | 5,341 | |
| Digital Realty Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 182 | | | | 20,861 | |
| Discover Financial Services (Consumer Finance) | | | 173 | | | | 20,194 | |
| Douglas Emmett, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 111 | | | | 1,859 | |
| East West Bancorp, Inc. (Banks) | | | 89 | | | | 6,988 | |
| EastGroup Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 28 | | | | 4,711 | |
| Enstar Group, Ltd.* (Insurance) | | | 9 | | | | 2,181 | |
| Equinix, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 59 | | | | 43,550 | |
| Equitable Holdings, Inc. (Diversified Financial Services) | | | 218 | | | | 6,991 | |
| Equity Commonwealth (Equity Real Estate Investment Trusts (REITs)) | | | 69 | | | | 1,761 | |
| Equity LifeStyle Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 111 | | | | 7,968 | |
| Equity Residential (Equity Real Estate Investment Trusts (REITs)) | | | 215 | | | | 13,685 | |
| Erie Indemnity Co.—Class A (Insurance) | | | 16 | | | | 3,910 | |
| Essent Group, Ltd. (Thrifts & Mortgage Finance) | | | 68 | | | | 2,993 | |
| Essex Property Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 41 | | | | 9,269 | |
| Everest Re Group, Ltd. (Insurance) | | | 25 | | | | 8,742 | |
| Extra Space Storage, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 85 | | | | 13,416 | |
| F&G Annuities & Life, Inc. (Insurance) | | | 12 | | | | 258 | |
| F.N.B. Corp. (Banks) | | | 222 | | | | 3,168 | |
| FactSet Research Systems, Inc. (Capital Markets) | | | 24 | | | | 10,151 | |
| Federal Realty Investment Trust (Equity Real Estate Investment Trusts (REITs)) | | | 46 | | | | 5,130 | |
| Federated Hermes, Inc.—Class B (Capital Markets) | | | 54 | | | | 2,122 | |
| Fifth Third Bancorp (Banks) | | | 435 | | | | 15,786 | |
| First American Financial Corp. (Insurance) | | | 66 | | | | 4,083 | |
| First Citizens BancShares, Inc.—Class A (Banks) | | | 8 | | | | 6,221 | |
| First Financial Bankshares, Inc. (Banks) | | | 82 | | | | 2,921 | |
See accompanying notes to the financial statements.
58 :: Financials UltraSector ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| First Horizon Corp. (Banks) | | | 341 | | | $ | 8,426 | |
| First Industrial Realty Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 84 | | | | 4,481 | |
| First Republic Bank (Banks) | | | 116 | | | | 16,342 | |
| FirstCash Holdings, Inc. (Consumer Finance) | | | 24 | | | | 2,212 | |
| FNF Group (Insurance) | | | 172 | | | | 7,573 | |
| Franklin Resources, Inc. (Capital Markets) | | | 180 | | | | 5,616 | |
| Gaming & Leisure Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 164 | | | | 8,784 | |
| Glacier Bancorp, Inc. (Banks) | | | 70 | | | | 3,191 | |
| Globe Life, Inc. (Insurance) | | | 57 | | | | 6,888 | |
| Hartford Financial Services Group, Inc. (Insurance) | | | 201 | | | | 15,600 | |
| Healthcare Realty Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 241 | | | | 5,189 | |
| Healthpeak Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 340 | | | | 9,343 | |
| Highwoods Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 67 | | | | 2,035 | |
| Home BancShares, Inc. (Banks) | | | 120 | | | | 2,864 | |
| Host Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 453 | | | | 8,539 | |
| Houlihan Lokey, Inc. (Capital Markets) | | | 32 | | | | 3,170 | |
| Huntington Bancshares, Inc. (Banks) | | | 914 | | | | 13,865 | |
| Interactive Brokers Group, Inc. (Capital Markets) | | | 65 | | | | 5,196 | |
| Intercontinental Exchange, Inc. (Capital Markets) | | | 354 | | | | 38,073 | |
| Invesco, Ltd. (Capital Markets) | | | 288 | | | | 5,331 | |
| Invitation Homes, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 368 | | | | 11,960 | |
| Iron Mountain, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 184 | | | | 10,043 | |
| Janus Henderson Group PLC (Capital Markets) | | | 84 | | | | 2,177 | |
| JBG Smith Properties (Equity Real Estate Investment Trusts (REITs)) | | | 63 | | | | 1,269 | |
| Jefferies Financial Group, Inc. (Diversified Financial Services) | | | 116 | | | | 4,556 | |
| Jones Lang LaSalle, Inc.* (Real Estate Management & Development) | | | 30 | | | | 5,546 | |
| JPMorgan Chase & Co. (Banks) | | | 1,858 | | | | 260,047 | |
| Kemper Corp. (Insurance) | | | 40 | | | | 2,349 | |
| KeyCorp (Banks) | | | 591 | | | | 11,341 | |
| Kilroy Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 67 | | | | 2,750 | |
| Kimco Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 392 | | | | 8,804 | |
| KKR & Co., Inc. (Capital Markets) | | | 365 | | | | 20,371 | |
| Lamar Advertising Co.—Class A (Equity Real Estate Investment Trusts (REITs)) | | | 55 | | | | 5,860 | |
| Lazard, Ltd.—Class A (Capital Markets) | | | 71 | | | | 2,846 | |
| Life Storage, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 54 | | | | 5,834 | |
| Lincoln National Corp. (Insurance) | | | 98 | | | | 3,472 | |
| Loews Corp. (Insurance) | | | 125 | | | | 7,685 | |
| LPL Financial Holdings, Inc. (Capital Markets) | | | 50 | | | | 11,856 | |
| LXP Industrial Trust (Equity Real Estate Investment Trusts (REITs)) | | | 175 | | | | 2,021 | |
| M&T Bank Corp. (Banks) | | | 109 | | | | 17,004 | |
| Markel Corp.* (Insurance) | | | 9 | | | | 12,681 | |
| MarketAxess Holdings, Inc. (Capital Markets) | | | 24 | | | | 8,732 | |
| Marsh & McLennan Cos., Inc. (Insurance) | | | 314 | | | | 54,922 | |
| Mastercard, Inc.—Class A (IT Services) | | | 538 | | | | 199,383 | |
| Medical Properties Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 379 | | | | 4,908 | |
| MetLife, Inc. (Insurance) | | | 417 | | | | 30,449 | |
| MGIC Investment Corp. (Thrifts & Mortgage Finance) | | | 188 | | | | 2,655 | |
| Mid-America Apartment Communities, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 73 | | | | 12,171 | |
| Moody's Corp. (Capital Markets) | | | 100 | | | | 32,275 | |
| Morgan Stanley (Capital Markets) | | | 835 | | | | 81,270 | |
| Morningstar, Inc. (Capital Markets) | | | 16 | | | | 3,886 | |
| MSCI, Inc. (Capital Markets) | | | 51 | | | | 27,110 | |
| Nasdaq, Inc. (Capital Markets) | | | 215 | | | | 12,941 | |
| National Health Investors, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 27 | | | | 1,588 | |
| National Retail Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 113 | | | | 5,351 | |
| National Storage Affiliates Trust (Equity Real Estate Investment Trusts (REITs)) | | | 54 | | | | 2,203 | |
| New York Community Bancorp, Inc. (Thrifts & Mortgage Finance) | | | 431 | | | | 4,305 | |
| Northern Trust Corp. (Capital Markets) | | | 132 | | | | 12,800 | |
| Old Republic International Corp. (Insurance) | | | 179 | | | | 4,724 | |
| Omega Healthcare Investors, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 148 | | | | 4,357 | |
| Onemain Holdings, Inc. (Consumer Finance) | | | 77 | | | | 3,322 | |
| Opendoor Technologies, Inc.* (Real Estate Management & Development) | | | 321 | | | | 703 | |
| Physicians Realty Trust (Equity Real Estate Investment Trusts (REITs)) | | | 145 | | | | 2,300 | |
| Pinnacle Financial Partners, Inc. (Banks) | | | 48 | | | | 3,779 | |
| Popular, Inc. (Banks) | | | 46 | | | | 3,157 | |
| PotlatchDeltic Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 51 | | | | 2,496 | |
| Primerica, Inc. (Insurance) | | | 23 | | | | 3,720 | |
| Principal Financial Group, Inc. (Insurance) | | | 144 | | | | 13,327 | |
| Prologis, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 585 | | | | 75,629 | |
| Prosperity Bancshares, Inc. (Banks) | | | 58 | | | | 4,400 | |
| Prudential Financial, Inc. (Insurance) | | | 233 | | | | 24,451 | |
| Public Storage (Equity Real Estate Investment Trusts (REITs)) | | | 100 | | | | 30,434 | |
| Radian Group, Inc. (Thrifts & Mortgage Finance) | | | 99 | | | | 2,188 | |
| Raymond James Financial, Inc. (Capital Markets) | | | 123 | | | | 13,871 | |
| Rayonier, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 93 | | | | 3,384 | |
| Realty Income Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 397 | | | | 26,929 | |
| Regency Centers Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 98 | | | | 6,530 | |
| Regions Financial Corp. (Banks) | | | 592 | | | | 13,936 | |
| Reinsurance Group of America, Inc. (Insurance) | | | 42 | | | | 6,374 | |
| RenaissanceRe Holdings, Ltd. (Insurance) | | | 28 | | | | 5,479 | |
| Rexford Industrial Realty, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 116 | | | | 7,363 | |
| Rithm Capital Corp. (Mortgage Real Estate Investment Trusts (REITs)) | | | 300 | | | | 2,823 | |
| RLI Corp. (Insurance) | | | 26 | | | | 3,444 | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Financials UltraSector ProFund :: 59
Common Stocks, continued
| | | Shares | | | Value | |
| Robinhood Markets, Inc.*(a)—Class A (Capital Markets) | | | 322 | | | $ | 3,352 | |
| Rocket Cos., Inc.(a)—Class A (Thrifts & Mortgage Finance) | | | 77 | | | | 725 | |
| Ryan Specialty Holdings, Inc.*—Class A (Insurance) | | | 53 | | | | 2,259 | |
| S&P Global, Inc. (Capital Markets) | | | 211 | | | | 79,112 | |
| Sabra Health Care REIT, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 146 | | | | 1,971 | |
| SBA Communications Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 68 | | | | 20,232 | |
| SEI Investments Co. (Capital Markets) | | | 65 | | | | 4,058 | |
| Selective Insurance Group, Inc. (Insurance) | | | 38 | | | | 3,610 | |
| Signature Bank (Banks) | | | 40 | | | | 5,158 | |
| Simon Property Group, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 207 | | | | 26,591 | |
| SL Green Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 41 | | | | 1,687 | |
| SLM Corp. (Consumer Finance) | | | 158 | | | | 2,776 | |
| SoFi Technologies, Inc.* (Consumer Finance) | | | 517 | | | | 3,583 | |
| SouthState Corp. (Banks) | | | 48 | | | | 3,821 | |
| Spirit Realty Capital, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 88 | | | | 3,861 | |
| STAG Industrial, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 114 | | | | 4,058 | |
| Starwood Property Trust, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 196 | | | | 4,094 | |
| State Street Corp. (Capital Markets) | | | 232 | | | | 21,189 | |
| Stifel Financial Corp. (Capital Markets) | | | 67 | | | | 4,516 | |
| STORE Capital Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 168 | | | | 5,411 | |
| Sun Communities, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 78 | | | | 12,235 | |
| SVB Financial Group* (Banks) | | | 37 | | | | 11,190 | |
| Synchrony Financial (Consumer Finance) | | | 285 | | | | 10,468 | |
| Synovus Financial Corp. (Banks) | | | 92 | | | | 3,859 | |
| T. Rowe Price Group, Inc. (Capital Markets) | | | 142 | | | | 16,539 | |
| TFS Financial Corp. (Thrifts & Mortgage Finance) | | | 30 | | | | 428 | |
| The Allstate Corp. (Insurance) | | | 168 | | | | 21,583 | |
| The Bank of New York Mellon Corp. (Capital Markets) | | | 466 | | | | 23,566 | |
| The Carlyle Group, Inc. (Capital Markets) | | | 138 | | | | 4,964 | |
| The Charles Schwab Corp. (Capital Markets) | | | 966 | | | | 74,788 | |
| The Goldman Sachs Group, Inc. (Capital Markets) | | | 215 | | | | 78,649 | |
| The Hanover Insurance Group, Inc. (Insurance) | | | 23 | | | | 3,095 | |
| The Howard Hughes Corp.* (Real Estate Management & Development) | | | 22 | | | | 1,881 | |
| The PNC Financial Services Group, Inc. (Banks) | | | 255 | | | | 42,185 | |
| The Progressive Corp. (Insurance) | | | 371 | | | | 50,586 | |
| The Travelers Cos., Inc. (Insurance) | | | 148 | | | | 28,286 | |
| TPG, Inc. (Capital Markets) | | | 32 | | | | 1,031 | |
| Tradeweb Markets, Inc.—Class A (Capital Markets) | | | 70 | | | | 5,218 | |
| Truist Financial Corp. (Banks) | | | 840 | | | | 41,488 | |
| U.S. Bancorp (Banks) | | | 856 | | | | 42,629 | |
| UDR, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 194 | | | | 8,262 | |
| UMB Financial Corp. (Banks) | | | 28 | | | | 2,525 | |
| Umpqua Holdings Corp. (Banks) | | | 137 | | | | 2,493 | |
| United Bankshares, Inc. (Banks) | | | 85 | | | | 3,417 | |
| Unum Group (Insurance) | | | 118 | | | | 4,960 | |
| UWM Holdings Corp. (Thrifts & Mortgage Finance) | | | 59 | | | | 270 | |
| Valley National Bancorp (Banks) | | | 266 | | | | 3,160 | |
| Ventas, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 253 | | | | 13,108 | |
| VICI Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 610 | | | | 20,850 | |
| Virtu Financial, Inc.—Class A (Capital Markets) | | | 59 | | | | 1,139 | |
| Visa, Inc.—Class A (IT Services) | | | 1,036 | | | | 238,497 | |
| Vornado Realty Trust (Equity Real Estate Investment Trusts (REITs)) | | | 102 | | | | 2,488 | |
| Voya Financial, Inc.(a) (Diversified Financial Services) | | | 62 | | | | 4,326 | |
| W.R. Berkley Corp. (Insurance) | | | 129 | | | | 9,048 | |
| Webster Financial Corp. (Banks) | | | 110 | | | | 5,792 | |
| Wells Fargo & Co. (Banks) | | | 2,414 | | | | 113,145 | |
| Welltower, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 299 | | | | 22,437 | |
| Western Alliance Bancorp (Banks) | | | 69 | | | | 5,201 | |
| Weyerhaeuser Co. (Equity Real Estate Investment Trusts (REITs)) | | | 466 | | | | 16,044 | |
| White Mountains Insurance Group, Ltd. (Insurance) | | | 2 | | | | 3,056 | |
| Willis Towers Watson PLC (Insurance) | | | 69 | | | | 17,539 | |
| Wintrust Financial Corp. (Banks) | | | 38 | | | | 3,476 | |
| WP Carey, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 132 | | | | 11,290 | |
| Zillow Group, Inc.*—Class A (Real Estate Management & Development) | | | 37 | | | | 1,590 | |
| Zillow Group, Inc.*—Class C (Real Estate Management & Development) | | | 103 | | | | 4,554 | |
| Zions Bancorp (Banks) | | | 95 | | | | 5,050 | |
TOTAL COMMON STOCKS
(Cost $1,131,617) | | | | | | | 4,185,010 | |
Repurchase Agreements(b)(c) (19.2%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $1,069,125 | | $ | 1,069,000 | | | $ | 1,069,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $1,069,000) | | | | | | | 1,069,000 | |
Collateral for Securities Loaned(d) (0.2%)
| | | Shares | | | Value | |
| Invesco Government & Agency Portfolio—Institutional Shares, 4.32%(e) | | | 13,552 | | | $ | 13,552 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $13,552) | | | | | | | 13,552 | |
TOTAL INVESTMENT SECURITIES
(Cost $2,214,169)—94.8% | | | | | | | 5,267,562 | |
| Net other assets (liabilities)—5.2% | | | | | | | 291,090 | |
| NET ASSETS—100.0% | | | | | | $ | 5,558,652 | |
See accompanying notes to the financial statements.
60 :: Financials UltraSector ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $13,590. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $716,000. |
| (d) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (e) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
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 | | 2/23/23 | | | 4.93 | % | | $ | 1,881,696 | | | $ | 41,693 | |
| Dow Jones U.S. Financials Index | | UBS AG | | 2/23/23 | | | 4.98 | % | | | 2,148,276 | | | | 43,220 | |
| | | | | | | | | | | $ | 4,029,972 | | | $ | 84,913 | |
| (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, 2023, 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). |
Financials UltraSector ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Banks | | $ | 943,696 | | | | 17.0 | % |
| Capital Markets | | | 825,771 | | | | 14.9 | % |
| Consumer Finance | | | 145,643 | | | | 2.6 | % |
| Diversified Financial Services | | | 390,853 | | | | 7.0 | % |
| Equity Real Estate Investment Trusts (REITs) | | | 753,233 | | | | 13.6 | % |
| Insurance | | | 602,257 | | | | 10.8 | % |
| IT Services | | | 437,880 | | | | 7.9 | % |
| Mortgage Real Estate Investment Trusts (REITs) | | | 20,639 | | | | 0.4 | % |
| Professional Services | | | 20,098 | | | | 0.4 | % |
| Real Estate Management & Development | | | 31,375 | | | | 0.6 | % |
| Thrifts & Mortgage Finance | | | 13,565 | | | | 0.2 | % |
| Other** | | | 1,373,642 | | | | 24.6 | % |
| Total | | $ | 5,558,652 | | | | 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: Health Care UltraSector ProFund :: 61
Common Stocks (75.2%)
| | | Shares | | | Value | |
| 10X Genomics, Inc.*—Class A (Life Sciences Tools & Services) | | | 233 | | | $ | 10,911 | |
| 1Life Healthcare, Inc.* (Health Care Providers & Services) | | | 409 | | | | 6,540 | |
| Abbott Laboratories (Health Care Equipment & Supplies) | | | 4,252 | | | | 470,059 | |
| AbbVie, Inc. (Biotechnology) | | | 4,313 | | | | 637,245 | |
| Acadia Healthcare Co., Inc.* (Health Care Providers & Services) | | | 222 | | | | 18,652 | |
| Agilent Technologies, Inc. (Life Sciences Tools & Services) | | | 722 | | | | 109,802 | |
| agilon health, Inc.* (Health Care Providers & Services) | | | 482 | | | | 10,488 | |
| Align Technology, Inc.* (Health Care Equipment & Supplies) | | | 177 | | | | 47,742 | |
| Alkermes PLC* (Biotechnology) | | | 401 | | | | 11,485 | |
| Alnylam Pharmaceuticals, Inc.* (Biotechnology) | | | 300 | | | | 67,920 | |
| Amedisys, Inc.* (Health Care Providers & Services) | | | 79 | | | | 7,636 | |
| Amgen, Inc. (Biotechnology) | | | 1,301 | | | | 328,371 | |
| Apellis Pharmaceuticals, Inc.* (Biotechnology) | | | 229 | | | | 12,075 | |
| Arrowhead Pharmaceuticals, Inc.* (Biotechnology) | | | 258 | | | | 9,027 | |
| Avantor, Inc.* (Life Sciences Tools & Services) | | | 1,644 | | | | 39,292 | |
| Azenta, Inc.* (Life Sciences Tools & Services) | | | 183 | | | | 10,230 | |
| Baxter International, Inc. (Health Care Equipment & Supplies) | | | 1,229 | | | | 56,153 | |
| Beam Therapeutics, Inc.*(a) (Biotechnology) | | | 144 | | | | 6,257 | |
| Becton, Dickinson & Co. (Health Care Equipment & Supplies) | | | 696 | | | | 175,545 | |
| Biogen, Inc.* (Biotechnology) | | | 351 | | | | 102,106 | |
| Biohaven, Ltd.* (Biotechnology) | | | 156 | | | | 2,978 | |
| BioMarin Pharmaceutical, Inc.* (Biotechnology) | | | 453 | | | | 52,254 | |
| Bio-Rad Laboratories, Inc.*—Class A (Life Sciences Tools & Services) | | | 53 | | | | 24,775 | |
| Bio-Techne Corp. (Life Sciences Tools & Services) | | | 383 | | | | 30,510 | |
| Blueprint Medicines Corp.* (Biotechnology) | | | 146 | | | | 6,824 | |
| Boston Scientific Corp.* (Health Care Equipment & Supplies) | | | 3,493 | | | | 161,551 | |
| Bristol-Myers Squibb Co. (Pharmaceuticals) | | | 5,185 | | | | 376,690 | |
| Bruker Corp. (Life Sciences Tools & Services) | | | 244 | | | | 17,109 | |
| Catalent, Inc.* (Pharmaceuticals) | | | 439 | | | | 23,508 | |
| Centene Corp.* (Health Care Providers & Services) | | | 1,381 | | | | 105,287 | |
| Charles River Laboratories International, Inc.* (Life Sciences Tools & Services) | | | 124 | | | | 30,163 | |
| Chemed Corp. (Health Care Providers & Services) | | | 36 | | | | 18,185 | |
| Cigna Corp. (Health Care Providers & Services) | | | 746 | | | | 236,236 | |
| CRISPR Therapeutics AG* (Biotechnology) | | | 191 | | | | 9,745 | |
| CVS Health Corp. (Health Care Providers & Services) | | | 3,205 | | | | 282,745 | |
| Danaher Corp. (Health Care Equipment & Supplies) | | | 1,598 | | | | 422,479 | |
| DaVita, Inc.* (Health Care Providers & Services) | | | 134 | | | | 11,040 | |
| Denali Therapeutics, Inc.* (Biotechnology) | | | 268 | | | | 8,112 | |
| DENTSPLY SIRONA, Inc. (Health Care Equipment & Supplies) | | | 524 | | | | 19,299 | |
| DexCom, Inc.* (Health Care Equipment & Supplies) | | | 942 | | | | 100,879 | |
| Doximity, Inc.*—Class A (Health Care Technology) | | | 277 | | | | 9,770 | |
| Edwards Lifesciences Corp.* (Health Care Equipment & Supplies) | | | 1,508 | | | | 115,664 | |
| Elanco Animal Health, Inc.* (Pharmaceuticals) | | | 1,087 | | | | 14,925 | |
| Elevance Health, Inc. (Health Care Providers & Services) | | | 582 | | | | 290,995 | |
| Eli Lilly & Co. (Pharmaceuticals) | | | 1,923 | | | | 661,800 | |
| Encompass Health Corp. (Health Care Providers & Services) | | | 243 | | | | 15,175 | |
| Enovis Corp.* (Health Care Equipment & Supplies) | | | 116 | | | | 7,302 | |
| Envista Holdings Corp.* (Health Care Equipment & Supplies) | | | 398 | | | | 15,518 | |
| Exact Sciences Corp.* (Biotechnology) | | | 434 | | | | 29,304 | |
| Exelixis, Inc.* (Biotechnology) | | | 787 | | | | 13,867 | |
| Fate Therapeutics, Inc.* (Biotechnology) | | | 201 | | | | 1,198 | |
| GE HealthCare Technologies, Inc.* (Health Care Equipment & Supplies) | | | 888 | | | | 61,734 | |
| Gilead Sciences, Inc. (Biotechnology) | | | 3,059 | | | | 256,772 | |
| Globus Medical, Inc.* (Health Care Equipment & Supplies) | | | 189 | | | | 14,270 | |
| Guardant Health, Inc.* (Health Care Providers & Services) | | | 250 | | | | 7,858 | |
| Haemonetics Corp.* (Health Care Equipment & Supplies) | | | 123 | | | | 10,406 | |
| Halozyme Therapeutics, Inc.* (Biotechnology) | | | 330 | | | | 17,084 | |
| HCA Healthcare, Inc. (Health Care Providers & Services) | | | 517 | | | | 131,871 | |
| HealthEquity, Inc.* (Health Care Providers & Services) | | | 206 | | | | 12,535 | |
| Henry Schein, Inc.* (Health Care Providers & Services) | | | 331 | | | | 28,516 | |
| Hologic, Inc.* (Health Care Equipment & Supplies) | | | 609 | | | | 49,554 | |
| Horizon Therapeutics PLC* (Pharmaceuticals) | | | 553 | | | | 60,675 | |
| Humana, Inc. (Health Care Providers & Services) | | | 309 | | | | 158,115 | |
| ICU Medical, Inc.* (Health Care Equipment & Supplies) | | | 49 | | | | 9,468 | |
| IDEXX Laboratories, Inc.* (Health Care Equipment & Supplies) | | | 202 | | | | 97,061 | |
| Illumina, Inc.* (Life Sciences Tools & Services) | | | 384 | | | | 82,253 | |
| Incyte Corp.* (Biotechnology) | | | 450 | | | | 38,313 | |
| Insulet Corp.* (Health Care Equipment & Supplies) | | | 169 | | | | 48,557 | |
| Integra LifeSciences Holdings Corp.* (Health Care Equipment & Supplies) | | | 177 | | | | 10,142 | |
| Intellia Therapeutics, Inc.* (Biotechnology) | | | 208 | | | | 8,828 | |
| Intuitive Surgical, Inc.* (Health Care Equipment & Supplies) | | | 862 | | | | 211,785 | |
| Ionis Pharmaceuticals, Inc.* (Biotechnology) | | | 346 | | | | 13,795 | |
| IQVIA Holdings, Inc.* (Life Sciences Tools & Services) | | | 453 | | | | 103,923 | |
| Jazz Pharmaceuticals PLC* (Pharmaceuticals) | | | 154 | | | | 24,126 | |
| Johnson & Johnson (Pharmaceuticals) | | | 6,376 | | | | 1,041,967 | |
| Laboratory Corp. of America Holdings (Health Care Providers & Services) | | | 216 | | | | 54,458 | |
See accompanying notes to the financial statements.
62 :: Health Care UltraSector ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| LHC Group, Inc.* (Health Care Providers & Services) | | | 76 | | | $ | 12,054 | |
| Maravai LifeSciences Holdings, Inc.*—Class A (Life Sciences Tools & Services) | | | 266 | | | | 3,900 | |
| Masimo Corp.* (Health Care Equipment & Supplies) | | | 118 | | | | 20,069 | |
| McKesson Corp. (Health Care Providers & Services) | | | 346 | | | | 131,023 | |
| Medpace Holdings, Inc.* (Life Sciences Tools & Services) | | | 61 | | | | 13,485 | |
| Medtronic PLC (Health Care Equipment & Supplies) | | | 3,242 | | | | 271,323 | |
| Merck & Co., Inc. (Pharmaceuticals) | | | 6,183 | | | | 664,116 | |
| Mettler-Toledo International, Inc.* (Life Sciences Tools & Services) | | | 54 | | | | 82,778 | |
| Mirati Therapeutics, Inc.* (Biotechnology) | | | 126 | | | | 6,730 | |
| Moderna, Inc.* (Biotechnology) | | | 806 | | | | 141,904 | |
| Molina Healthcare, Inc.* (Health Care Providers & Services) | | | 142 | | | | 44,280 | |
| Natera, Inc.* (Biotechnology) | | | 266 | | | | 11,419 | |
| Neurocrine Biosciences, Inc.* (Biotechnology) | | | 234 | | | | 25,958 | |
| Novavax, Inc.*(a) (Biotechnology) | | | 191 | | | | 2,084 | |
| Novocure, Ltd.* (Health Care Equipment & Supplies) | | | 220 | | | | 20,060 | |
| NuVasive, Inc.* (Health Care Equipment & Supplies) | | | 127 | | | | 5,791 | |
| Oak Street Health, Inc.* (Health Care Providers & Services) | | | 284 | | | | 8,253 | |
| Omnicell, Inc.* (Health Care Equipment & Supplies) | | | 109 | | | | 6,046 | |
| Option Care Health, Inc.* (Health Care Providers & Services) | | | 377 | | | | 10,884 | |
| Organon & Co. (Pharmaceuticals) | | | 620 | | | | 18,681 | |
| Penumbra, Inc.* (Health Care Equipment & Supplies) | | | 93 | | | | 23,288 | |
| Perrigo Co. PLC (Pharmaceuticals) | | | 328 | | | | 12,274 | |
| Pfizer, Inc. (Pharmaceuticals) | | | 13,690 | | | | 604,550 | |
| Premier, Inc. (Health Care Providers & Services) | | | 290 | | | | 9,674 | |
| Quest Diagnostics, Inc. (Health Care Providers & Services) | | | 278 | | | | 41,277 | |
| QuidelOrtho Corp.* (Health Care Equipment & Supplies) | | | 130 | | | | 11,129 | |
| R1 RCM, Inc.* (Health Care Providers & Services) | | | 335 | | | | 4,794 | |
| Regeneron Pharmaceuticals, Inc.* (Biotechnology) | | | 261 | | | | 197,961 | |
| Repligen Corp.* (Life Sciences Tools & Services) | | | 126 | | | | 23,348 | |
| ResMed, Inc. (Health Care Equipment & Supplies) | | | 357 | | | | 81,528 | |
| Royalty Pharma PLC—Class A (Pharmaceuticals) | | | 904 | | | | 35,428 | |
| Sarepta Therapeutics, Inc.* (Biotechnology) | | | 214 | | | | 26,744 | |
| Seagen, Inc.* (Biotechnology) | | | 335 | | | | 46,726 | |
| Shockwave Medical, Inc.* (Health Care Equipment & Supplies) | | | 88 | | | | 16,538 | |
| Signify Health, Inc.*—Class A (Health Care Providers & Services) | | | 170 | | | | 4,838 | |
| Sotera Health Co.* (Life Sciences Tools & Services) | | | 241 | | | | 4,155 | |
| STAAR Surgical Co.* (Health Care Equipment & Supplies) | | | 118 | | | | 8,325 | |
| STERIS PLC (Health Care Equipment & Supplies) | | | 243 | | | | 50,182 | |
| Stryker Corp. (Health Care Equipment & Supplies) | | | 821 | | | | 208,378 | |
| Syneos Health, Inc.* (Life Sciences Tools & Services) | | | 251 | | | | 9,016 | |
| Tandem Diabetes Care, Inc.* (Health Care Equipment & Supplies) | | | 157 | | | | 6,396 | |
| Teladoc Health, Inc.* (Health Care Technology) | | | 395 | | | | 11,613 | |
| Teleflex, Inc. (Health Care Equipment & Supplies) | | | 114 | | | | 27,750 | |
| Tenet Healthcare Corp.* (Health Care Providers & Services) | | | 264 | | | | 14,480 | |
| The Cooper Cos., Inc. (Health Care Equipment & Supplies) | | | 120 | | | | 41,872 | |
| Thermo Fisher Scientific, Inc. (Life Sciences Tools & Services) | | | 956 | | | | 545,234 | |
| Ultragenyx Pharmaceutical, Inc.* (Biotechnology) | | | 171 | | | | 7,751 | |
| United Therapeutics Corp.* (Biotechnology) | | | 111 | | | | 29,212 | |
| UnitedHealth Group, Inc. (Health Care Providers & Services) | | | 2,279 | | | | 1,137,655 | |
| Universal Health Services, Inc.—Class B (Health Care Providers & Services) | | | 156 | | | | 23,121 | |
| Vertex Pharmaceuticals, Inc.* (Biotechnology) | | | 626 | | | | 202,261 | |
| Viatris, Inc. (Pharmaceuticals) | | | 2,959 | | | | 35,981 | |
| Vir Biotechnology, Inc.* (Biotechnology) | | | 185 | | | | 5,467 | |
| Waters Corp.* (Life Sciences Tools & Services) | | | 145 | | | | 47,644 | |
| West Pharmaceutical Services, Inc. (Life Sciences Tools & Services) | | | 180 | | | | 47,808 | |
| Zimmer Biomet Holdings, Inc. (Health Care Equipment & Supplies) | | | 512 | | | | 65,198 | |
| Zoetis, Inc. (Pharmaceuticals) | | | 1,137 | | | | 188,162 | |
TOTAL COMMON STOCKS
(Cost $4,020,050) | | | | | | | 13,166,085 | |
Repurchase Agreements(b)(c) (25.5%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $4,457,521 | | $ | 4,457,000 | | | $ | 4,457,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $4,457,000) | | | | | | | 4,457,000 | |
Collateral for Securities Loaned(d)(NM)
| | | Shares | | | Value | |
| Invesco Government & Agency Portfolio—Institutional Shares, 4.32%(e) | | | 6,877 | | | $ | 6,877 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $6,877) | | | | | | | 6,877 | |
TOTAL INVESTMENT SECURITIES
(Cost $8,483,927)—100.7% | | | | | | | 17,629,962 | |
| Net other assets (liabilities)—(0.7)% | | | | | | | (120,920 | ) |
| NET ASSETS—100.0% | | | | | | $ | 17,509,042 | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Health Care UltraSector ProFund :: 63
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $6,925. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $2,656,000. |
| (d) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (e) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
| 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. Health Care Index | | Goldman Sachs International | | 2/23/23 | | 4.93 | % | | $ | 7,875,645 | | | $ | (63,051 | ) |
| Dow Jones U.S. Health Care Index | | UBS AG | | 2/23/23 | | 4.68 | % | | | 5,146,672 | | | | (40,136 | ) |
| | | | | | | | | | $ | 13,022,317 | | | $ | (103,187 | ) |
| (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, 2023, 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, 2023:
| | | Value | | | % of
Net Assets | |
| Biotechnology | | $ | 2,337,777 | | | | 13.3 | % |
| Health Care Equipment & Supplies | | | 2,969,041 | | | | 17.0 | % |
| Health Care Providers & Services | | | 2,838,665 | | | | 16.2 | % |
| Health Care Technology | | | 21,383 | | | | 0.1 | % |
| Life Sciences Tools & Services | | | 1,236,336 | | | | 7.1 | % |
| Pharmaceuticals | | | 3,762,883 | | | | 21.5 | % |
| Other** | | | 4,342,957 | | | | 24.8 | % |
| Total | | $ | 17,509,042 | | | | 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 :: Industrials UltraSector ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks (79.0%)
| | | Shares | | | Value | |
| 3M Co. (Industrial Conglomerates) | | | 391 | | | $ | 44,996 | |
| A.O. Smith Corp. (Building Products) | | | 90 | | | | 6,093 | |
| Accenture PLC—Class A (IT Services) | | | 446 | | | | 124,457 | |
| Acuity Brands, Inc. (Electrical Equipment) | | | 23 | | | | 4,336 | |
| Advanced Drainage Systems, Inc. (Building Products) | | | 45 | | | | 4,538 | |
| AECOM (Construction & Engineering) | | | 99 | | | | 8,640 | |
| Affirm Holdings, Inc.*(a) (IT Services) | | | 148 | | | | 2,396 | |
| AGCO Corp. (Machinery) | | | 44 | | | | 6,078 | |
| Air Lease Corp. (Trading Companies & Distributors) | | | 73 | | | | 3,283 | |
| Alight, Inc.*—Class A (Professional Services) | | | 190 | | | | 1,784 | |
| Allegion PLC (Building Products) | | | 62 | | | | 7,288 | |
| Allison Transmission Holdings, Inc. (Machinery) | | | 65 | | | | 2,930 | |
| Amcor PLC (Containers & Packaging) | | | 1,053 | | | | 12,698 | |
| AMETEK, Inc. (Electrical Equipment) | | | 162 | | | | 23,477 | |
| Amphenol Corp.—Class A (Electronic Equipment, Instruments & Components) | | | 421 | | | | 33,584 | |
| Applied Industrial Technologies, Inc. (Trading Companies & Distributors) | | | 27 | | | | 3,867 | |
| AptarGroup, Inc. (Containers & Packaging) | | | 46 | | | | 5,319 | |
| Ardagh Metal Packaging SA (Containers & Packaging) | | | 107 | | | | 601 | |
| Armstrong World Industries, Inc. (Building Products) | | | 32 | | | | 2,477 | |
| Arrow Electronics, Inc.* (Electronic Equipment, Instruments & Components) | | | 43 | | | | 5,052 | |
| ASGN, Inc.* (Professional Services) | | | 35 | | | | 3,183 | |
| Automatic Data Processing, Inc. (IT Services) | | | 293 | | | | 66,162 | |
| Avery Dennison Corp. (Containers & Packaging) | | | 57 | | | | 10,798 | |
| Avnet, Inc. (Electronic Equipment, Instruments & Components) | | | 65 | | | | 2,982 | |
| Axon Enterprise, Inc.* (Aerospace & Defense) | | | 48 | | | | 9,381 | |
| Ball Corp. (Containers & Packaging) | | | 222 | | | | 12,928 | |
| Berry Global Group, Inc. (Containers & Packaging) | | | 88 | | | | 5,432 | |
| Block, Inc.*—Class A (IT Services) | | | 380 | | | | 31,054 | |
| Booz Allen Hamilton Holding Corp. (Professional Services) | | | 93 | | | | 8,802 | |
| Broadridge Financial Solutions, Inc. (IT Services) | | | 83 | | | | 12,480 | |
| Builders FirstSource, Inc.* (Building Products) | | | 104 | | | | 8,289 | |
| BWX Technologies, Inc. (Aerospace & Defense) | | | 65 | | | | 3,956 | |
| C.H. Robinson Worldwide, Inc. (Air Freight & Logistics) | | | 83 | | | | 8,314 | |
| CACI International, Inc.*—Class A (Professional Services) | | | 17 | | | | 5,238 | |
| Carlisle Cos., Inc. (Building Products) | | | 37 | | | | 9,282 | |
| Carrier Global Corp. (Building Products) | | | 591 | | | | 26,908 | |
| Caterpillar, Inc. (Machinery) | | | 368 | | | | 92,844 | |
| ChargePoint Holdings, Inc.*(a) (Electrical Equipment) | | | 185 | | | | 2,246 | |
| Chart Industries, Inc.* (Machinery) | | | 30 | | | | 4,019 | |
| Cintas Corp. (Commercial Services & Supplies) | | | 61 | | | | 27,068 | |
| Clarivate PLC* (Professional Services) | | | 305 | | | | 3,392 | |
| Clean Harbors, Inc.* (Commercial Services & Supplies) | | | 36 | | | | 4,691 | |
| Cognex Corp. (Electronic Equipment, Instruments & Components) | | | 122 | | | | 6,678 | |
| Coherent Corp.* (Electronic Equipment, Instruments & Components) | | | 98 | | | | 4,253 | |
| Concentrix Corp. (IT Services) | | | 30 | | | | 4,254 | |
| Core & Main, Inc.*—Class A (Trading Companies & Distributors) | | | 51 | | | | 1,126 | |
| Corning, Inc. (Electronic Equipment, Instruments & Components) | | | 538 | | | | 18,620 | |
| Crane Holdings Co. (Machinery) | | | 34 | | | | 3,941 | |
| Crown Holdings, Inc. (Containers & Packaging) | | | 85 | | | | 7,494 | |
| CSX Corp. (Road & Rail) | | | 1,487 | | | | 45,978 | |
| Cummins, Inc. (Machinery) | | | 100 | | | | 24,954 | |
| Curtiss-Wright Corp. (Aerospace & Defense) | | | 27 | | | | 4,477 | |
| Deere & Co. (Machinery) | | | 194 | | | | 82,032 | |
| Donaldson Co., Inc. (Machinery) | | | 87 | | | | 5,424 | |
| Dover Corp. (Machinery) | | | 99 | | | | 15,031 | |
| Dun & Bradstreet Holdings, Inc. (Professional Services) | | | 154 | | | | 2,256 | |
| Eagle Materials, Inc. (Construction Materials) | | | 26 | | | | 3,798 | |
| Eaton Corp. PLC (Electrical Equipment) | | | 281 | | | | 45,581 | |
| EMCOR Group, Inc. (Construction & Engineering) | | | 34 | | | | 5,041 | |
| Emerson Electric Co. (Electrical Equipment) | | | 418 | | | | 37,712 | |
| EnerSys (Electrical Equipment) | | | 29 | | | | 2,408 | |
| Equifax, Inc. (Professional Services) | | | 87 | | | | 19,331 | |
| Euronet Worldwide, Inc.* (IT Services) | | | 33 | | | | 3,718 | |
| Expeditors International of Washington, Inc. (Air Freight & Logistics) | | | 113 | | | | 12,221 | |
| Fastenal Co. (Trading Companies & Distributors) | | | 405 | | | | 20,473 | |
| FedEx Corp. (Air Freight & Logistics) | | | 169 | | | | 32,762 | |
| Ferguson PLC (Trading Companies & Distributors) | | | 148 | | | | 21,066 | |
| Fidelity National Information Services, Inc. (IT Services) | | | 420 | | | | 31,517 | |
| Fiserv, Inc.* (IT Services) | | | 449 | | | | 47,899 | |
| FleetCor Technologies, Inc.* (IT Services) | | | 52 | | | | 10,858 | |
| Flowserve Corp. (Machinery) | | | 92 | | | | 3,167 | |
| Fortive Corp. (Machinery) | | | 250 | | | | 17,008 | |
| Fortune Brands Innovations, Inc. (Building Products) | | | 91 | | | | 5,870 | |
| FTI Consulting, Inc.* (Professional Services) | | | 24 | | | | 3,828 | |
| Gates Industrial Corp. PLC* (Machinery) | | | 72 | | | | 951 | |
| Generac Holdings, Inc.* (Electrical Equipment) | | | 45 | | | | 5,427 | |
| General Dynamics Corp. (Aerospace & Defense) | | | 159 | | | | 37,057 | |
| General Electric Co. (Industrial Conglomerates) | | | 773 | | | | 62,211 | |
| Genpact, Ltd. (IT Services) | | | 119 | | | | 5,626 | |
| Global Payments, Inc. (IT Services) | | | 191 | | | | 21,530 | |
| Graco, Inc. (Machinery) | | | 119 | | | | 8,130 | |
| Graphic Packaging Holding Co. (Containers & Packaging) | | | 217 | | | | 5,228 | |
| GXO Logistics, Inc.* (Air Freight & Logistics) | | | 84 | | | | 4,396 | |
| HEICO Corp. (Aerospace & Defense) | | | 28 | | | | 4,787 | |
| HEICO Corp.—Class A (Aerospace & Defense) | | | 49 | | | | 6,550 | |
| Hertz Global Holdings, Inc.* (Road & Rail) | | | 118 | | | | 2,126 | |
| Hexcel Corp. (Aerospace & Defense) | | | 60 | | | | 4,235 | |
| Honeywell International, Inc. (Industrial Conglomerates) | | | 475 | | | | 99,028 | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Industrials UltraSector ProFund :: 65
Common Stocks, continued
| | | Shares | | | Value | |
| Howmet Aerospace, Inc. (Aerospace & Defense) | | | 260 | | | $ | 10,579 | |
| Hubbell, Inc. (Electrical Equipment) | | | 38 | | | | 8,699 | |
| Huntington Ingalls Industries, Inc. (Aerospace & Defense) | | | 28 | | | | 6,175 | |
| IDEX Corp. (Machinery) | | | 53 | | | | 12,703 | |
| Illinois Tool Works, Inc. (Machinery) | | | 198 | | | | 46,736 | |
| Ingersoll Rand, Inc. (Machinery) | | | 286 | | | | 16,016 | |
| Insperity, Inc. (Professional Services) | | | 25 | | | | 2,764 | |
| International Paper Co. (Containers & Packaging) | | | 251 | | | | 10,497 | |
| IPG Photonics Corp. (Electronic Equipment, Instruments & Components) | | | 23 | | | | 2,578 | |
| ITT, Inc. (Machinery) | | | 58 | | | | 5,312 | |
| J.B. Hunt Transport Services, Inc. (Road & Rail) | | | 59 | | | | 11,154 | |
| Jabil, Inc. (Electronic Equipment, Instruments & Components) | | | 95 | | | | 7,470 | |
| Jack Henry & Associates, Inc. (IT Services) | | | 52 | | | | 9,365 | |
| Jacobs Solutions, Inc. (Professional Services) | | | 90 | | | | 11,120 | |
| Johnson Controls International PLC (Building Products) | | | 487 | | | | 33,881 | |
| KBR, Inc. (Professional Services) | | | 97 | | | | 4,969 | |
| Keysight Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 126 | | | | 22,598 | |
| Kirby Corp.* (Marine) | | | 42 | | | | 2,973 | |
| Knight-Swift Transportation Holdings, Inc. (Road & Rail) | | | 114 | | | | 6,737 | |
| L3Harris Technologies, Inc. (Aerospace & Defense) | | | 135 | | | | 29,001 | |
| Landstar System, Inc. (Road & Rail) | | | 25 | | | | 4,321 | |
| Leidos Holdings, Inc. (Professional Services) | | | 97 | | | | 9,587 | |
| Lennox International, Inc. (Building Products) | | | 23 | | | | 5,994 | |
| Lincoln Electric Holdings, Inc. (Machinery) | | | 41 | | | | 6,842 | |
| Littelfuse, Inc. (Electronic Equipment, Instruments & Components) | | | 18 | | | | 4,620 | |
| Lockheed Martin Corp. (Aerospace & Defense) | | | 165 | | | | 76,438 | |
| Louisiana-Pacific Corp. (Paper & Forest Products) | | | 51 | | | | 3,473 | |
| ManpowerGroup, Inc. (Professional Services) | | | 36 | | | | 3,138 | |
| Marqeta, Inc.*—Class A (IT Services) | | | 312 | | | | 2,069 | |
| Martin Marietta Materials, Inc. (Construction Materials) | | | 44 | | | | 15,824 | |
| Masco Corp. (Building Products) | | | 159 | | | | 8,459 | |
| MasTec, Inc.* (Construction & Engineering) | | | 42 | | | | 4,126 | |
| Masterbrand, Inc.* (Building Products) | | | 91 | | | | 837 | |
| Maximus, Inc. (IT Services) | | | 43 | | | | 3,219 | |
| MDU Resources Group, Inc. (Construction & Engineering) | | | 144 | | | | 4,451 | |
| Mercury Systems, Inc.* (Aerospace & Defense) | | | 41 | | | | 2,049 | |
| MSA Safety, Inc. (Commercial Services & Supplies) | | | 26 | | | | 3,546 | |
| MSC Industrial Direct Co., Inc. (Trading Companies & Distributors) | | | 33 | | | | 2,729 | |
| National Instruments Corp. (Electronic Equipment, Instruments & Components) | | | 92 | | | | 4,968 | |
| Nikola Corp.*(a) (Machinery) | | | 240 | | | | 650 | |
| Nordson Corp. (Machinery) | | | 38 | | | | 9,245 | |
| Norfolk Southern Corp. (Road & Rail) | | | 164 | | | | 40,313 | |
| Northrop Grumman Corp. (Aerospace & Defense) | | | 102 | | | | 45,700 | |
| nVent Electric PLC (Electrical Equipment) | | | 118 | | | | 4,691 | |
| Old Dominion Freight Line, Inc. (Road & Rail) | | | 64 | | | | 21,327 | |
| Oshkosh Corp. (Machinery) | | | 46 | | | | 4,636 | |
| Otis Worldwide Corp. (Machinery) | | | 295 | | | | 24,258 | |
| Owens Corning (Building Products) | | | 66 | | | | 6,379 | |
| PACCAR, Inc. (Machinery) | | | 246 | | | | 26,890 | |
| Packaging Corp. of America (Containers & Packaging) | | | 65 | | | | 9,276 | |
| Parker-Hannifin Corp. (Machinery) | | | 91 | | | | 29,666 | |
| Paychex, Inc. (IT Services) | | | 227 | | | | 26,300 | |
| PayPal Holdings, Inc.* (IT Services) | | | 806 | | | | 65,681 | |
| Pentair PLC (Machinery) | | | 116 | | | | 6,424 | |
| PerkinElmer, Inc. (Life Sciences Tools & Services) | | | 89 | | | | 12,240 | |
| Quanta Services, Inc. (Construction & Engineering) | | | 101 | | | | 15,370 | |
| Raytheon Technologies Corp. (Aerospace & Defense) | | | 1,039 | | | | 103,743 | |
| RBC Bearings, Inc.* (Machinery) | | | 21 | | | | 5,123 | |
| Regal Rexnord Corp. (Electrical Equipment) | | | 47 | | | | 6,542 | |
| Republic Services, Inc. (Commercial Services & Supplies) | | | 145 | | | | 18,099 | |
| Robert Half International, Inc. (Professional Services) | | | 77 | | | | 6,465 | |
| Rockwell Automation, Inc. (Electrical Equipment) | | | 81 | | | | 22,844 | |
| RXO, Inc.* (Road & Rail) | | | 81 | | | | 1,484 | |
| Saia, Inc.* (Road & Rail) | | | 19 | | | | 5,183 | |
| Science Applications International Corp. (Professional Services) | | | 39 | | | | 4,047 | |
| Sealed Air Corp. (Containers & Packaging) | | | 102 | | | | 5,586 | |
| Sensata Technologies Holding PLC (Electrical Equipment) | | | 108 | | | | 5,492 | |
| Shift4 Payments, Inc.*—Class A (IT Services) | | | 37 | | | | 2,369 | |
| Shoals Technologies Group, Inc.*—Class A (Electrical Equipment) | | | 96 | | | | 2,677 | |
| Silgan Holdings, Inc. (Containers & Packaging) | | | 59 | | | | 3,180 | |
| Siteone Landscape Supply, Inc.* (Trading Companies & Distributors) | | | 32 | | | | 4,848 | |
| Snap-on, Inc. (Machinery) | | | 38 | | | | 9,452 | |
| Sonoco Products Co. (Containers & Packaging) | | | 69 | | | | 4,217 | |
| SS&C Technologies Holdings, Inc. (Software) | | | 155 | | | | 9,354 | |
| Stericycle, Inc.* (Commercial Services & Supplies) | | | 65 | | | | 3,498 | |
| Sunrun, Inc.* (Electrical Equipment) | | | 151 | | | | 3,968 | |
| TE Connectivity, Ltd. (Electronic Equipment, Instruments & Components) | | | 225 | | | | 28,610 | |
| Teledyne Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 33 | | | | 14,001 | |
| Tetra Tech, Inc. (Commercial Services & Supplies) | | | 37 | | | | 5,754 | |
| Textron, Inc. (Aerospace & Defense) | | | 148 | | | | 10,782 | |
| The Boeing Co.* (Aerospace & Defense) | | | 396 | | | | 84,348 | |
| The Middleby Corp.* (Machinery) | | | 38 | | | | 5,907 | |
| The Sherwin-Williams Co. (Chemicals) | | | 167 | | | | 39,511 | |
| The Timken Co. (Machinery) | | | 47 | | | | 3,870 | |
| The Toro Co. (Machinery) | | | 74 | | | | 8,252 | |
| The Western Union Co. (IT Services) | | | 273 | | | | 3,868 | |
| Toast, Inc.*—Class A (IT Services) | | | 219 | | | | 4,886 | |
| Trane Technologies PLC (Building Products) | | | 163 | | | | 29,197 | |
| TransDigm Group, Inc. (Aerospace & Defense) | | | 37 | | | | 26,557 | |
| TransUnion (Professional Services) | | | 136 | | | | 9,758 | |
See accompanying notes to the financial statements.
66 :: Industrials UltraSector ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Trex Co., Inc.* (Building Products) | | | 78 | | | $ | 4,112 | |
| Trimble, Inc.* (Electronic Equipment, Instruments & Components) | | | 174 | | | | 10,102 | |
| TriNet Group, Inc.* (Professional Services) | | | 25 | | | | 1,886 | |
| UFP Industries, Inc. (Building Products) | | | 44 | | | | 4,116 | |
| Union Pacific Corp. (Road & Rail) | | | 435 | | | | 88,823 | |
| United Parcel Service, Inc.—Class B (Air Freight & Logistics) | | | 516 | | | | 95,578 | |
| United Rentals, Inc.* (Trading Companies & Distributors) | | | 49 | | | | 21,607 | |
| Univar Solutions, Inc.* (Trading Companies & Distributors) | | | 115 | | | | 3,965 | |
| Valmont Industries, Inc. (Construction & Engineering) | | | 15 | | | | 4,946 | |
| Verisk Analytics, Inc. (Professional Services) | | | 111 | | | | 20,179 | |
| Vertiv Holdings Co. (Electrical Equipment) | | | 213 | | | | 3,029 | |
| Vontier Corp. (Electronic Equipment, Instruments & Components) | | | 112 | | | | 2,579 | |
| Vulcan Materials Co. (Construction Materials) | | | 94 | | | | 17,233 | |
| W.W. Grainger, Inc. (Trading Companies & Distributors) | | | 32 | | | | 18,863 | |
| Waste Management, Inc. (Commercial Services & Supplies) | | | 264 | | | | 40,849 | |
| Watsco, Inc. (Trading Companies & Distributors) | | | 24 | | | | 6,897 | |
| WESCO International, Inc.* (Trading Companies & Distributors) | | | 33 | | | | 4,917 | |
| Westinghouse Air Brake Technologies Corp. (Machinery) | | | 129 | | | | 13,391 | |
| WestRock Co. (Containers & Packaging) | | | 180 | | | | 7,063 | |
| WEX, Inc.* (IT Services) | | | 31 | | | | 5,734 | |
| WillScot Mobile Mini Holdings Corp.* (Construction & Engineering) | | | 148 | | | | 7,172 | |
| Woodward, Inc. (Machinery) | | | 43 | | | | 4,397 | |
| XPO, Inc.* (Air Freight & Logistics) | | | 81 | | | | 3,229 | |
| Xylem, Inc. (Machinery) | | | 127 | | | | 13,209 | |
| Zebra Technologies Corp.* (Electronic Equipment, Instruments & Components) | | | 37 | | | | 11,699 | |
| Zurn Elkay Water Solutions Corp. (Building Products) | | | 103 | | | | 2,252 | |
TOTAL COMMON STOCKS
(Cost $1,431,987) | | | | | | | 3,179,763 | |
Repurchase Agreements(b)(c) (19.6%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $788,092 | | $ | 788,000 | | | $ | 788,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $788,000) | | | | | | | 788,000 | |
Collateral for Securities Loaned(d) (0.1%)
| | | Shares | | | Value | |
| Invesco Government & Agency Portfolio—Institutional Shares, 4.32%(e) | | | 5,006 | | | $ | 5,006 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $5,006) | | | | | | | 5,006 | |
TOTAL INVESTMENT SECURITIES
(Cost $2,224,993)—98.7% | | | | | | | 3,972,769 | |
| Net other assets (liabilities)—1.3% | | | | | | | 53,509 | |
| NET ASSETS—100.0% | | | | | | $ | 4,026,278 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $5,122. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $486,000. |
| (d) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (e) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
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 | | 2/23/23 | | 4.93 | % | | $ | 1,014,394 | | | $ | 15,240 | |
| Dow Jones U.S. Industrials Index | | UBS AG | | 2/23/23 | | 4.68 | % | | | 1,838,098 | | | | 25,504 | |
| | | | | | | | | | $ | 2,852,492 | | | $ | 40,744 | |
| (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, 2023, 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: Industrials UltraSector ProFund :: 67
Industrials UltraSector ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 465,815 | | | | 11.6 | % |
| Air Freight & Logistics | | | 156,500 | | | | 3.9 | % |
| Building Products | | | 165,971 | | | | 4.1 | % |
| Chemicals | | | 39,510 | | | | 1.0 | % |
| Commercial Services & Supplies | | | 103,505 | | | | 2.6 | % |
| Construction & Engineering | | | 49,746 | | | | 1.2 | % |
| Construction Materials | | | 36,855 | | | | 0.9 | % |
| Containers & Packaging | | | 100,318 | | | | 2.5 | % |
| Electrical Equipment | | | 179,129 | | | | 4.4 | % |
| Electronic Equipment, Instruments & Components | | | 180,394 | | | | 4.5 | % |
| Industrial Conglomerates | | | 206,235 | | | | 5.1 | % |
| IT Services | | | 485,442 | | | | 12.1 | % |
| Life Sciences Tools & Services | | | 12,240 | | | | 0.3 | % |
| Machinery | | | 519,489 | | | | 12.9 | % |
| Marine | | | 2,973 | | | | 0.1 | % |
| Paper & Forest Products | | | 3,473 | | | | 0.1 | % |
| Professional Services | | | 121,727 | | | | 3.0 | % |
| Road & Rail | | | 227,446 | | | | 5.7 | % |
| Software | | | 9,354 | | | | 0.2 | % |
| Trading Companies & Distributors | | | 113,641 | | | | 2.8 | % |
| Other** | | | 846,515 | | | | 21.0 | % |
| Total | | $ | 4,026,278 | | | | 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.
68 :: Internet UltraSector ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks (76.6%)
| | | Shares | | | Value | |
| Airbnb, Inc.*—Class A (Hotels, Restaurants & Leisure) | | | 14,956 | | | $ | 1,661,761 | |
| Akamai Technologies, Inc.* (IT Services) | | | 10,229 | | | | 909,870 | |
| Alphabet, Inc.*—Class A (Interactive Media & Services) | | | 26,466 | | | | 2,615,899 | |
| Alphabet, Inc.*—Class C (Interactive Media & Services) | | | 23,462 | | | | 2,343,150 | |
| Amazon.com, Inc.* (Internet & Direct Marketing Retail) | | | 47,224 | | | | 4,870,211 | |
| Arista Networks, Inc.* (Communications Equipment) | | | 10,110 | | | | 1,274,062 | |
| Box, Inc.*—Class A (Software) | | | 18,978 | | | | 607,106 | |
| Ciena Corp.* (Communications Equipment) | | | 15,006 | | | | 780,612 | |
| Cisco Systems, Inc. (Communications Equipment) | | | 54,329 | | | | 2,644,192 | |
| Cloudflare, Inc.*—Class A (Software) | | | 19,712 | | | | 1,042,962 | |
| CommScope Holding Co., Inc.* (Communications Equipment) | | | 48,057 | | | | 403,679 | |
| Confluent, Inc.*—Class A (Software) | | | 23,102 | | | | 533,656 | |
| Coupa Software, Inc.* (Software) | | | 9,247 | | | | 739,020 | |
| Datadog, Inc.*—Class A (Software) | | | 14,565 | | | | 1,089,608 | |
| DocuSign, Inc.* (Software) | | | 17,410 | | | | 1,055,742 | |
| DoorDash, Inc.*—Class A (Internet & Direct Marketing Retail) | | | 17,102 | | | | 990,548 | |
| Dropbox, Inc.* (Software) | | | 28,460 | | | | 661,126 | |
| eBay, Inc. (Internet & Direct Marketing Retail) | | | 26,317 | | | | 1,302,692 | |
| Etsy, Inc.* (Internet & Direct Marketing Retail) | | | 7,522 | | | | 1,034,877 | |
| Expedia Group, Inc.* (Hotels, Restaurants & Leisure) | | | 9,964 | | | | 1,138,885 | |
| Fastly, Inc.*—Class A (IT Services) | | | 33,246 | | | | 344,096 | |
| GoDaddy, Inc.*—Class A (IT Services) | | | 11,279 | | | | 926,344 | |
| Juniper Networks, Inc. (Communications Equipment) | | | 25,063 | | | | 809,535 | |
| Match Group, Inc.* (Interactive Media & Services) | | | 19,852 | | | | 1,074,390 | |
| Meta Platforms, Inc.*—Class A (Interactive Media & Services) | | | 25,586 | | | | 3,811,547 | |
| Netflix, Inc.* (Entertainment) | | | 7,322 | | | | 2,590,963 | |
| Nutanix, Inc.*—Class A (Software) | | | 22,291 | | | | 621,250 | |
| Okta, Inc.* (IT Services) | | | 12,426 | | | | 914,678 | |
| Opendoor Technologies, Inc.* (Real Estate Management & Development) | | | 203,902 | | | | 446,545 | |
| PayPal Holdings, Inc.* (IT Services) | | | 25,018 | | | | 2,038,717 | |
| Pinterest, Inc.*—Class A (Interactive Media & Services) | | | 39,436 | | | | 1,036,772 | |
| Salesforce, Inc.* (Software) | | | 16,924 | | | | 2,842,725 | |
| Smartsheet, Inc.* (Software) | | | 15,829 | | | | 683,971 | |
| Snap, Inc.* (Interactive Media & Services) | | | 82,341 | | | | 951,862 | |
| Snowflake, Inc.*—Class A (IT Services) | | | 10,276 | | | | 1,607,577 | |
| Teladoc Health, Inc.* (Health Care Technology) | | | 20,904 | | | | 614,578 | |
| Veeva Systems, Inc.*—Class A (Health Care Technology) | | | 6,846 | | | | 1,167,585 | |
| Workday, Inc.*—Class A (Software) | | | 7,966 | | | | 1,445,272 | |
| Zillow Group, Inc.*—Class A (Real Estate Management & Development) | | | 5,262 | | | | 226,056 | |
| Zillow Group, Inc.*—Class C (Real Estate Management & Development) | | | 14,725 | | | | 650,992 | |
| Zoom Video Communications, Inc.*—Class A (Software) | | | 13,655 | | | | 1,024,125 | |
| ZoomInfo Technologies, Inc.*—Class A (Interactive Media & Services) | | | 24,770 | | | | 699,257 | |
TOTAL COMMON STOCKS
(Cost $37,883,929) | | | | | | | 54,228,495 | |
Repurchase Agreements(a)(b) (21.9%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $15,494,812 | | $ | 15,493,000 | | | $ | 15,493,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $15,493,000) | | | | | | | 15,493,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $53,376,929)—98.5% | | | | | | | 69,721,495 | |
| Net other assets (liabilities)—1.5% | | | | | | | 1,029,568 | |
| NET ASSETS—100.0% | | | | | | $ | 70,751,063 | |
| * | 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 the 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, 2023, the aggregate amount held in a segregated account was $9,218,000. |
Total Return Swap Agreements—Long
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Dow Jones Composite Internet Index | | Goldman Sachs International | | 2/23/23 | | | 4.93 | % | | $ | 25,346,205 | | | $ | 585,298 | |
| Dow Jones Composite Internet Index | | UBS AG | | 2/23/23 | | | 4.68 | % | | | 26,436,073 | | | | 641,446 | |
| | | | | | | | | | | $ | 51,782,278 | | | $ | 1,226,744 | |
| (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, 2023, 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: Internet UltraSector ProFund :: 69
Internet UltraSector ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Communications Equipment | | $ | 5,912,081 | | | | 8.3 | % |
| Entertainment | | | 2,590,963 | | | | 3.7 | % |
| Health Care Technology | | | 1,782,163 | | | | 2.5 | % |
| Hotels, Restaurants & Leisure | | | 2,800,646 | | | | 3.9 | % |
| Interactive Media & Services | | | 12,532,878 | | | | 17.8 | % |
| Internet & Direct Marketing Retail | | | 8,198,327 | | | | 11.6 | % |
| IT Services | | | 6,741,282 | | | | 9.5 | % |
| Real Estate Management & Development | | | 1,323,593 | | | | 1.9 | % |
| Software | | | 12,346,562 | | | | 17.4 | % |
| Other** | | | 16,522,568 | | | | 23.4 | % |
| Total | | $ | 70,751,063 | | | | 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.
70 :: Large-Cap Growth ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks (100.7%)
| | | Shares | | | Value | |
| Abbott Laboratories (Health Care Equipment & Supplies) | | | 490 | | | $ | 54,170 | |
| AbbVie, Inc. (Biotechnology) | | | 955 | | | | 141,101 | |
| Accenture PLC—Class A (IT Services) | | | 167 | | | | 46,601 | |
| Activision Blizzard, Inc. (Entertainment) | | | 227 | | | | 17,382 | |
| Adobe, Inc.* (Software) | | | 118 | | | | 43,700 | |
| Advanced Micro Devices, Inc.* (Semiconductors & Semiconductor Equipment) | | | 469 | | | | 35,245 | |
| Agilent Technologies, Inc. (Life Sciences Tools & Services) | | | 96 | | | | 14,600 | |
| Air Products & Chemicals, Inc. (Chemicals) | | | 120 | | | | 38,461 | |
| Albemarle Corp. (Chemicals) | | | 65 | | | | 18,294 | |
| Alphabet, Inc.*—Class A (Interactive Media & Services) | | | 3,225 | | | | 318,759 | |
| Alphabet, Inc.*—Class C (Interactive Media & Services) | | | 2,858 | | | | 285,428 | |
| Altria Group, Inc. (Tobacco) | | | 503 | | | | 22,655 | |
| Amazon.com, Inc.* (Internet & Direct Marketing Retail) | | | 2,204 | | | | 227,299 | |
| American Express Co. (Consumer Finance) | | | 158 | | | | 27,639 | |
| American Tower Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 132 | | | | 29,487 | |
| Ameriprise Financial, Inc. (Capital Markets) | | | 59 | | | | 20,657 | |
| AMETEK, Inc. (Electrical Equipment) | | | 63 | | | | 9,130 | |
| Amgen, Inc. (Biotechnology) | | | 288 | | | | 72,691 | |
| Amphenol Corp.—Class A (Electronic Equipment, Instruments & Components) | | | 320 | | | | 25,526 | |
| Analog Devices, Inc. (Semiconductors & Semiconductor Equipment) | | | 129 | | | | 22,120 | |
| Aon PLC (Insurance) | | | 73 | | | | 23,264 | |
| APA Corp. (Oil, Gas & Consumable Fuels) | | | 175 | | | | 7,758 | |
| Apple, Inc. (Technology Hardware, Storage & Peripherals) | | | 8,073 | | | | 1,164,853 | |
| Applied Materials, Inc. (Semiconductors & Semiconductor Equipment) | | | 465 | | | | 51,843 | |
| Arch Capital Group, Ltd.* (Insurance) | | | 201 | | | | 12,934 | |
| Archer-Daniels-Midland Co. (Food Products) | | | 146 | | | | 12,096 | |
| Arista Networks, Inc.* (Communications Equipment) | | | 134 | | | | 16,886 | |
| Arthur J. Gallagher & Co. (Insurance) | | | 73 | | | | 14,288 | |
| Atmos Energy Corp. (Gas Utilities) | | | 47 | | | | 5,524 | |
| Autodesk, Inc.* (Software) | | | 65 | | | | 13,985 | |
| Automatic Data Processing, Inc. (IT Services) | | | 223 | | | | 50,356 | |
| AutoZone, Inc.* (Specialty Retail) | | | 10 | | | | 24,389 | |
| Biogen, Inc.* (Biotechnology) | | | 36 | | | | 10,472 | |
| Bio-Techne Corp. (Life Sciences Tools & Services) | | | 41 | | | | 3,266 | |
| Boston Scientific Corp.* (Health Care Equipment & Supplies) | | | 411 | | | | 19,009 | |
| Bristol-Myers Squibb Co. (Pharmaceuticals) | | | 1,147 | | | | 83,330 | |
| Broadcom, Inc. (Semiconductors & Semiconductor Equipment) | | | 130 | | | | 76,051 | |
| Broadridge Financial Solutions, Inc. (IT Services) | | | 30 | | | | 4,511 | |
| Brown & Brown, Inc. (Insurance) | | | 76 | | | | 4,451 | |
| Brown-Forman Corp.—Class B (Beverages) | | | 56 | | | | 3,728 | |
| C.H. Robinson Worldwide, Inc. (Air Freight & Logistics) | | | 34 | | | | 3,406 | |
| Cadence Design Systems, Inc.* (Software) | | | 149 | | | | 27,242 | |
| Campbell Soup Co. (Food Products) | | | 65 | | | | 3,375 | |
| Caterpillar, Inc. (Machinery) | | | 169 | | | | 42,637 | |
| Cboe Global Markets, Inc. (Capital Markets) | | | 40 | | | | 4,915 | |
| CDW Corp. (Electronic Equipment, Instruments & Components) | | | 46 | | | | 9,017 | |
| CF Industries Holdings, Inc. (Chemicals) | | | 106 | | | | 8,978 | |
| Chevron Corp. (Oil, Gas & Consumable Fuels) | | | 960 | | | | 167,060 | |
| Chipotle Mexican Grill, Inc.* (Hotels, Restaurants & Leisure) | | | 15 | | | | 24,696 | |
| Chubb, Ltd. (Insurance) | | | 127 | | | | 28,891 | |
| Cigna Corp. (Health Care Providers & Services) | | | 79 | | | | 25,017 | |
| Cintas Corp. (Commercial Services & Supplies) | | | 27 | | | | 11,981 | |
| Colgate-Palmolive Co. (Household Products) | | | 248 | | | | 18,483 | |
| ConocoPhillips (Oil, Gas & Consumable Fuels) | | | 672 | | | | 81,897 | |
| Constellation Brands, Inc.—Class A (Beverages) | | | 50 | | | | 11,576 | |
| Copart, Inc.* (Commercial Services & Supplies) | | | 232 | | | | 15,454 | |
| Corteva, Inc. (Chemicals) | | | 266 | | | | 17,144 | |
| CoStar Group, Inc.* (Professional Services) | | | 220 | | | | 17,139 | |
| Costco Wholesale Corp. (Food & Staples Retailing) | | | 158 | | | | 80,760 | |
| Coterra Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 428 | | | | 10,713 | |
| CSX Corp. (Road & Rail) | | | 546 | | | | 16,882 | |
| Cummins, Inc. (Machinery) | | | 39 | | | | 9,732 | |
| D.R. Horton, Inc. (Household Durables) | | | 84 | | | | 8,290 | |
| Danaher Corp. (Health Care Equipment & Supplies) | | | 355 | | | | 93,854 | |
| Deere & Co. (Machinery) | | | 149 | | | | 63,002 | |
| Devon Energy Corp. (Oil, Gas & Consumable Fuels) | | | 352 | | | | 22,260 | |
| DexCom, Inc.* (Health Care Equipment & Supplies) | | | 208 | | | | 22,275 | |
| Diamondback Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 95 | | | | 13,881 | |
| Discover Financial Services (Consumer Finance) | | | 85 | | | | 9,922 | |
| Dollar General Corp. (Multiline Retail) | | | 122 | | | | 28,500 | |
| Dollar Tree, Inc.* (Multiline Retail) | | | 113 | | | | 16,970 | |
| Domino's Pizza, Inc. (Hotels, Restaurants & Leisure) | | | 9 | | | | 3,177 | |
| Electronic Arts, Inc. (Entertainment) | | | 96 | | | | 12,353 | |
| Elevance Health, Inc. (Health Care Providers & Services) | | | 128 | | | | 63,999 | |
| Eli Lilly & Co. (Pharmaceuticals) | | | 426 | | | | 146,608 | |
| Enphase Energy, Inc.* (Semiconductors & Semiconductor Equipment) | | | 73 | | | | 16,161 | |
| EOG Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 317 | | | | 41,923 | |
| EPAM Systems, Inc.* (IT Services) | | | 21 | | | | 6,986 | |
| EQT Corp. (Oil, Gas & Consumable Fuels) | | | 200 | | | | 6,534 | |
| Equifax, Inc. (Professional Services) | | | 32 | | | | 7,110 | |
| Etsy, Inc.* (Internet & Direct Marketing Retail) | | | 40 | | | | 5,503 | |
| Everest Re Group, Ltd. (Insurance) | | | 12 | | | | 4,196 | |
| Expeditors International of Washington, Inc. (Air Freight & Logistics) | | | 85 | | | | 9,193 | |
| Extra Space Storage, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 35 | | | | 5,524 | |
| Exxon Mobil Corp. (Oil, Gas & Consumable Fuels) | | | 2,223 | | | | 257,891 | |
| FactSet Research Systems, Inc. (Capital Markets) | | | 12 | | | | 5,075 | |
| Fastenal Co. (Trading Companies & Distributors) | | | 153 | | | | 7,734 | |
| First Horizon Corp. (Banks) | | | 1 | | | | 20 | |
| First Solar, Inc.* (Semiconductors & Semiconductor Equipment) | | | 55 | | | | 9,768 | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Large-Cap Growth ProFund :: 71
Common Stocks, continued
| | | Shares | | | Value | |
| Fiserv, Inc.* (IT Services) | | | 237 | | | $ | 25,283 | |
| FleetCor Technologies, Inc.* (IT Services) | | | 21 | | | | 4,385 | |
| FMC Corp. (Chemicals) | | | 67 | | | | 8,920 | |
| Fortinet, Inc.* (Software) | | | 350 | | | | 18,319 | |
| Freeport-McMoRan, Inc. (Metals & Mining) | | | 774 | | | | 34,536 | |
| Gartner, Inc.* (IT Services) | | | 43 | | | | 14,540 | |
| Gen Digital, Inc. (Software) | | | 169 | | | | 3,889 | |
| General Dynamics Corp. (Aerospace & Defense) | | | 66 | | | | 15,382 | |
| General Mills, Inc. (Food Products) | | | 217 | | | | 17,004 | |
| Genuine Parts Co. (Distributors) | | | 56 | | | | 9,398 | |
| Gilead Sciences, Inc. (Biotechnology) | | | 678 | | | | 56,911 | |
| Globe Life, Inc. (Insurance) | | | 33 | | | | 3,988 | |
| HCA Healthcare, Inc. (Health Care Providers & Services) | | | 63 | | | | 16,069 | |
| Hess Corp. (Oil, Gas & Consumable Fuels) | | | 151 | | | | 22,674 | |
| Hilton Worldwide Holdings, Inc. (Hotels, Restaurants & Leisure) | | | 70 | | | | 10,156 | |
| Hologic, Inc.* (Health Care Equipment & Supplies) | | | 136 | | | | 11,066 | |
| Hormel Foods Corp. (Food Products) | | | 113 | | | | 5,120 | |
| Humana, Inc. (Health Care Providers & Services) | | | 44 | | | | 22,515 | |
| IDEX Corp. (Machinery) | | | 22 | | | | 5,273 | |
| IDEXX Laboratories, Inc.* (Health Care Equipment & Supplies) | | | 22 | | | | 10,571 | |
| Illinois Tool Works, Inc. (Machinery) | | | 76 | | | | 17,939 | |
| Incyte Corp.* (Biotechnology) | | | 99 | | | | 8,429 | |
| Intuit, Inc. (Software) | | | 79 | | | | 33,391 | |
| Intuitive Surgical, Inc.* (Health Care Equipment & Supplies) | | | 93 | | | | 22,849 | |
| IQVIA Holdings, Inc.* (Life Sciences Tools & Services) | | | 49 | | | | 11,241 | |
| Iron Mountain, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 101 | | | | 5,513 | |
| J.B. Hunt Transport Services, Inc. (Road & Rail) | | | 45 | | | | 8,507 | |
| Jack Henry & Associates, Inc. (IT Services) | | | 40 | | | | 7,204 | |
| Johnson & Johnson (Pharmaceuticals) | | | 874 | | | | 142,829 | |
| Kellogg Co. (Food Products) | | | 76 | | | | 5,212 | |
| Keurig Dr Pepper, Inc. (Beverages) | | | 230 | | | | 8,114 | |
| Keysight Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 53 | | | | 9,506 | |
| Kimberly-Clark Corp. (Household Products) | | | 87 | | | | 11,311 | |
| KLA Corp. (Semiconductors & Semiconductor Equipment) | | | 76 | | | | 29,828 | |
| L3Harris Technologies, Inc. (Aerospace & Defense) | | | 53 | | | | 11,385 | |
| Lam Research Corp. (Semiconductors & Semiconductor Equipment) | | | 73 | | | | 36,507 | |
| Lamb Weston Holding, Inc. (Food Products) | | | 77 | | | | 7,692 | |
| Leidos Holdings, Inc. (Professional Services) | | | 48 | | | | 4,744 | |
| Linde PLC (Chemicals) | | | 163 | | | | 53,943 | |
| Lockheed Martin Corp. (Aerospace & Defense) | | | 89 | | | | 41,231 | |
| Lowe's Cos., Inc. (Specialty Retail) | | | 231 | | | | 48,105 | |
| Marathon Oil Corp. (Oil, Gas & Consumable Fuels) | | | 346 | | | | 9,505 | |
| Marathon Petroleum Corp. (Oil, Gas & Consumable Fuels) | | | 121 | | | | 15,551 | |
| MarketAxess Holdings, Inc. (Capital Markets) | | | 10 | | | | 3,639 | |
| Marriott International, Inc.—Class A (Hotels, Restaurants & Leisure) | | | 75 | | | | 13,012 | |
| Marsh & McLennan Cos., Inc. (Insurance) | | | 171 | | | | 29,909 | |
| Masco Corp. (Building Products) | | | 88 | | | | 4,682 | |
| Mastercard, Inc.—Class A (IT Services) | | | 459 | | | | 170,105 | |
| McCormick & Co., Inc. (Food Products) | | | 69 | | | | 5,183 | |
| McDonald's Corp. (Hotels, Restaurants & Leisure) | | | 245 | | | | 65,514 | |
| McKesson Corp. (Health Care Providers & Services) | | | 34 | | | | 12,875 | |
| Merck & Co., Inc. (Pharmaceuticals) | | | 1,369 | | | | 147,044 | |
| Mettler-Toledo International, Inc.* (Life Sciences Tools & Services) | | | 8 | | | | 12,263 | |
| Microchip Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 145 | | | | 11,255 | |
| Microsoft Corp. (Software) | | | 2,334 | | | | 578,388 | |
| Moderna, Inc.* (Biotechnology) | | | 178 | | | | 31,339 | |
| Molina Healthcare, Inc.* (Health Care Providers & Services) | | | 31 | | | | 9,667 | |
| Mondelez International, Inc.—Class A (Food Products) | | | 399 | | | | 26,111 | |
| Monolithic Power Systems, Inc. (Semiconductors & Semiconductor Equipment) | | | 23 | | | | 9,811 | |
| Monster Beverage Corp.* (Beverages) | | | 205 | | | | 21,336 | |
| Moody's Corp. (Capital Markets) | | | 40 | | | | 12,910 | |
| Motorola Solutions, Inc. (Communications Equipment) | | | 51 | | | | 13,108 | |
| MSCI, Inc. (Capital Markets) | | | 24 | | | | 12,757 | |
| Nasdaq, Inc. (Capital Markets) | | | 118 | | | | 7,102 | |
| Northrop Grumman Corp. (Aerospace & Defense) | | | 58 | | | | 25,986 | |
| NRG Energy, Inc. (Electric Utilities) | | | 61 | | | | 2,087 | |
| Nucor Corp. (Metals & Mining) | | | 138 | | | | 23,325 | |
| NVIDIA Corp. (Semiconductors & Semiconductor Equipment) | | | 1,343 | | | | 262,382 | |
| NXP Semiconductors N.V. (Semiconductors & Semiconductor Equipment) | | | 82 | | | | 15,113 | |
| Occidental Petroleum Corp. (Oil, Gas & Consumable Fuels) | | | 393 | | | | 25,462 | |
| Old Dominion Freight Line, Inc. (Road & Rail) | | | 50 | | | | 16,662 | |
| ON Semiconductor Corp.* (Semiconductors & Semiconductor Equipment) | | | 234 | | | | 17,187 | |
| ONEOK, Inc. (Oil, Gas & Consumable Fuels) | | | 242 | | | | 16,572 | |
| Oracle Corp. (Software) | | | 491 | | | | 43,434 | |
| O'Reilly Automotive, Inc.* (Specialty Retail) | | | 33 | | | | 26,148 | |
| Paychex, Inc. (IT Services) | | | 98 | | | | 11,354 | |
| Paycom Software, Inc.* (Software) | | | 24 | | | | 7,775 | |
| PepsiCo, Inc. (Beverages) | | | 744 | | | | 127,240 | |
| Pfizer, Inc. (Pharmaceuticals) | | | 3,031 | | | | 133,849 | |
| PG&E Corp.* (Electric Utilities) | | | 869 | | | | 13,818 | |
| Philip Morris International, Inc. (Tobacco) | | | 453 | | | | 47,221 | |
| Pioneer Natural Resources Co. (Oil, Gas & Consumable Fuels) | | | 127 | | | | 29,254 | |
| Pool Corp. (Distributors) | | | 13 | | | | 5,013 | |
| Principal Financial Group, Inc. (Insurance) | | | 74 | | | | 6,849 | |
| PTC, Inc.* (Software) | | | 58 | | | | 7,823 | |
| Public Storage (Equity Real Estate Investment Trusts (REITs)) | | | 54 | | | | 16,434 | |
| Qualcomm, Inc. (Semiconductors & Semiconductor Equipment) | | | 604 | | | | 80,459 | |
| Quanta Services, Inc. (Construction & Engineering) | | | 76 | | | | 11,566 | |
| Quest Diagnostics, Inc. (Health Care Providers & Services) | | | 41 | | | | 6,088 | |
See accompanying notes to the financial statements.
72 :: Large-Cap Growth ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Raymond James Financial, Inc. (Capital Markets) | | | 104 | | | $ | 11,728 | |
| Regeneron Pharmaceuticals, Inc.* (Biotechnology) | | | 59 | | | | 44,750 | |
| Republic Services, Inc. (Commercial Services & Supplies) | | | 61 | | | | 7,614 | |
| ResMed, Inc. (Health Care Equipment & Supplies) | | | 43 | | | | 9,820 | |
| Rollins, Inc. (Commercial Services & Supplies) | | | 126 | | | | 4,586 | |
| SBA Communications Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 32 | | | | 9,521 | |
| Schlumberger, Ltd. (Energy Equipment & Services) | | | 405 | | | | 23,077 | |
| Sempra Energy (Multi-Utilities) | | | 101 | | | | 16,194 | |
| ServiceNow, Inc.* (Software) | | | 109 | | | | 49,609 | |
| Snap-on, Inc. (Machinery) | | | 16 | | | | 3,980 | |
| SolarEdge Technologies, Inc.* (Semiconductors & Semiconductor Equipment) | | | 29 | | | | 9,255 | |
| Starbucks Corp. (Hotels, Restaurants & Leisure) | | | 317 | | | | 34,597 | |
| Steel Dynamics, Inc. (Metals & Mining) | | | 89 | | | | 10,737 | |
| Synopsys, Inc.* (Software) | | | 82 | | | | 29,008 | |
| Targa Resources Corp. (Oil, Gas & Consumable Fuels) | | | 123 | | | | 9,227 | |
| Teradyne, Inc. (Semiconductors & Semiconductor Equipment) | | | 41 | | | | 4,170 | |
| Tesla, Inc.* (Automobiles) | | | 1,447 | | | | 250,649 | |
| Texas Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 309 | | | | 54,758 | |
| The AES Corp. (Independent Power and Renewable Electricity Producers) | | | 215 | | | | 5,893 | |
| The Charles Schwab Corp. (Capital Markets) | | | 487 | | | | 37,705 | |
| The Clorox Co. (Household Products) | | | 29 | | | | 4,196 | |
| The Coca-Cola Co. (Beverages) | | | 1,365 | | | | 83,702 | |
| The Hershey Co. (Food Products) | | | 78 | | | | 17,519 | |
| The Home Depot, Inc. (Specialty Retail) | | | 292 | | | | 94,657 | |
| The Mosaic Co. (Chemicals) | | | 185 | | | | 9,165 | |
| The Procter & Gamble Co. (Household Products) | | | 702 | | | | 99,951 | |
| The Progressive Corp. (Insurance) | | | 316 | | | | 43,086 | |
| The TJX Cos., Inc. (Specialty Retail) | | | 402 | | | | 32,908 | |
| The Travelers Cos., Inc. (Insurance) | | | 69 | | | | 13,187 | |
| The Williams Cos., Inc. (Oil, Gas & Consumable Fuels) | | | 659 | | | | 21,246 | |
| Thermo Fisher Scientific, Inc. (Life Sciences Tools & Services) | | | 212 | | | | 120,910 | |
| T-Mobile U.S., Inc.* (Wireless Telecommunication Services) | | | 219 | | | | 32,699 | |
| Tractor Supply Co. (Specialty Retail) | | | 61 | | | | 13,907 | |
| TransDigm Group, Inc. (Aerospace & Defense) | | | 13 | | | | 9,331 | |
| Tyler Technologies, Inc.* (Software) | | | 11 | | | | 3,550 | |
| Ulta Beauty, Inc.* (Specialty Retail) | | | 27 | | | | 13,877 | |
| Union Pacific Corp. (Road & Rail) | | | 166 | | | | 33,896 | |
| UnitedHealth Group, Inc. (Health Care Providers & Services) | | | 506 | | | | 252,590 | |
| VeriSign, Inc.* (IT Services) | | | 24 | | | | 5,233 | |
| Verisk Analytics, Inc. (Professional Services) | | | 39 | | | | 7,090 | |
| Vertex Pharmaceuticals, Inc.* (Biotechnology) | | | 139 | | | | 44,911 | |
| VICI Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 298 | | | | 10,186 | |
| Visa, Inc.—Class A (IT Services) | | | 882 | | | | 203,045 | |
| Vulcan Materials Co. (Construction Materials) | | | 43 | | | | 7,883 | |
| W.R. Berkley Corp. (Insurance) | | | 113 | | | | 7,926 | |
| W.W. Grainger, Inc. (Trading Companies & Distributors) | | | 23 | | | | 13,558 | |
| Waste Management, Inc. (Commercial Services & Supplies) | | | 119 | | | | 18,413 | |
| Waters Corp.* (Life Sciences Tools & Services) | | | 31 | | | | 10,186 | |
| WEC Energy Group, Inc. (Multi-Utilities) | | | 88 | | | | 8,271 | |
| Weyerhaeuser Co. (Equity Real Estate Investment Trusts (REITs)) | | | 227 | | | | 7,816 | |
| Yum! Brands, Inc. (Hotels, Restaurants & Leisure) | | | 97 | | | | 12,659 | |
TOTAL COMMON STOCKS
(Cost $5,170,236) | | | | | | | 9,527,721 | |
Repurchase Agreements(a) (0.1%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.20%–4.22%, dated 1/31/23, due 2/1/23, total to be received $8,001 | | $ | 8,000 | | | $ | 8,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $8,000) | | | | | | | 8,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $5,178,236)—100.8% | | | | | | | 9,535,721 | |
| Net other assets (liabilities)—(0.8)% | | | | | | | (71,123 | ) |
| NET ASSETS—100.0% | | | | | | $ | 9,464,598 | |
| * | 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 the 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.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Large-Cap Growth ProFund :: 73
Large-Cap Growth ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 103,315 | | | | 1.1 | % |
| Air Freight & Logistics | | | 12,599 | | | | 0.1 | % |
| Automobiles | | | 250,649 | | | | 2.7 | % |
| Banks | | | 20 | | | | NM | |
| Beverages | | | 255,696 | | | | 2.7 | % |
| Biotechnology | | | 410,604 | | | | 4.3 | % |
| Building Products | | | 4,682 | | | | 0.1 | % |
| Capital Markets | | | 116,488 | | | | 1.2 | % |
| Chemicals | | | 154,905 | | | | 1.6 | % |
| Commercial Services & Supplies | | | 58,048 | | | | 0.6 | % |
| Communications Equipment | | | 29,994 | | | | 0.3 | % |
| Construction & Engineering | | | 11,566 | | | | 0.1 | % |
| Construction Materials | | | 7,883 | | | | 0.1 | % |
| Consumer Finance | | | 37,561 | | | | 0.4 | % |
| Distributors | | | 14,411 | | | | 0.2 | % |
| Electric Utilities | | | 15,904 | | | | 0.2 | % |
| Electrical Equipment | | | 9,130 | | | | 0.1 | % |
| Electronic Equipment, Instruments & Components | | | 44,049 | | | | 0.5 | % |
| Energy Equipment & Services | | | 23,077 | | | | 0.2 | % |
| Entertainment | | | 29,735 | | | | 0.3 | % |
| Equity Real Estate Investment Trusts (REITs) | | | 84,481 | | | | 0.9 | % |
| Food & Staples Retailing | | | 80,760 | | | | 0.9 | % |
| Food Products | | | 99,312 | | | | 1.1 | % |
| Gas Utilities | | | 5,524 | | | | 0.1 | % |
| Health Care Equipment & Supplies | | | 243,614 | | | | 2.6 | % |
| Health Care Providers & Services | | | 408,820 | | | | 4.3 | % |
| Hotels, Restaurants & Leisure | | | 163,811 | | | | 1.7 | % |
| Household Durables | | | 8,290 | | | | 0.1 | % |
| Household Products | | | 133,941 | | | | 1.4 | % |
| Independent Power and Renewable Electricity Producers | | | 5,893 | | | | 0.1 | % |
| Insurance | | | 192,970 | | | | 2.0 | % |
| Interactive Media & Services | | | 604,187 | | | | 6.4 | % |
| Internet & Direct Marketing Retail | | | 232,802 | | | | 2.5 | % |
| IT Services | | | 549,603 | | | | 5.8 | % |
| Life Sciences Tools & Services | | | 172,466 | | | | 1.8 | % |
| Machinery | | | 142,564 | | | | 1.5 | % |
| Metals & Mining | | | 68,598 | | | | 0.7 | % |
| Multiline Retail | | | 45,470 | | | | 0.5 | % |
| Multi-Utilities | | | 24,464 | | | | 0.3 | % |
| Oil, Gas & Consumable Fuels | | | 759,408 | | | | 8.0 | % |
| Pharmaceuticals | | | 653,660 | | | | 6.9 | % |
| Professional Services | | | 36,083 | | | | 0.4 | % |
| Road & Rail | | | 75,947 | | | | 0.8 | % |
| Semiconductors & Semiconductor Equipment | | | 741,913 | | | | 7.8 | % |
| Software | | | 860,113 | | | | 9.1 | % |
| Specialty Retail | | | 253,991 | | | | 2.7 | % |
| Technology Hardware, Storage & Peripherals | | | 1,164,853 | | | | 12.3 | % |
| Tobacco | | | 69,876 | | | | 0.7 | % |
| Trading Companies & Distributors | | | 21,292 | | | | 0.2 | % |
| Wireless Telecommunication Services | | | 32,699 | | | | 0.4 | % |
| Other** | | | (63,123 | ) | | | (0.8 | )% |
| Total | | $ | 9,464,598 | | | | 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.
74 :: Large-Cap Value ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks (99.4%)
| | | Shares | | | Value | |
| 3M Co. (Industrial Conglomerates) | | | 388 | | | $ | 44,651 | |
| A.O. Smith Corp. (Building Products) | | | 90 | | | | 6,093 | |
| Abbott Laboratories (Health Care Equipment & Supplies) | | | 587 | | | | 64,892 | |
| Accenture PLC—Class A (IT Services) | | | 226 | | | | 63,065 | |
| Activision Blizzard, Inc. (Entertainment) | | | 206 | | | | 15,773 | |
| Adobe, Inc.* (Software) | | | 172 | | | | 63,698 | |
| Advance Auto Parts, Inc. (Specialty Retail) | | | 44 | | | | 6,700 | |
| Advanced Micro Devices, Inc.* (Semiconductors & Semiconductor Equipment) | | | 521 | | | | 39,153 | |
| Aflac, Inc. (Insurance) | | | 399 | | | | 29,327 | |
| Agilent Technologies, Inc. (Life Sciences Tools & Services) | | | 84 | | | | 12,775 | |
| Akamai Technologies, Inc.* (IT Services) | | | 108 | | | | 9,607 | |
| Alaska Air Group, Inc.* (Airlines) | | | 90 | | | | 4,621 | |
| Alexandria Real Estate Equities, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 102 | | | | 16,395 | |
| Align Technology, Inc.* (Health Care Equipment & Supplies) | | | 51 | | | | 13,756 | |
| Allegion PLC (Building Products) | | | 62 | | | | 7,288 | |
| Alliant Energy Corp. (Electric Utilities) | | | 177 | | | | 9,563 | |
| Altria Group, Inc. (Tobacco) | | | 603 | | | | 27,159 | |
| Amazon.com, Inc.* (Internet & Direct Marketing Retail) | | | 3,360 | | | | 346,517 | |
| Amcor PLC (Containers & Packaging) | | | 1,041 | | | | 12,554 | |
| Ameren Corp. (Multi-Utilities) | | | 182 | | | | 15,810 | |
| American Airlines Group, Inc.* (Airlines) | | | 454 | | | | 7,328 | |
| American Electric Power Co., Inc. (Electric Utilities) | | | 360 | | | | 33,826 | |
| American Express Co. (Consumer Finance) | | | 215 | | | | 37,611 | |
| American International Group, Inc. (Insurance) | | | 521 | | | | 32,938 | |
| American Tower Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 154 | | | | 34,402 | |
| American Water Works Co., Inc. (Water Utilities) | | | 129 | | | | 20,187 | |
| AmerisourceBergen Corp. (Health Care Providers & Services) | | | 114 | | | | 19,261 | |
| AMETEK, Inc. (Electrical Equipment) | | | 80 | | | | 11,594 | |
| Analog Devices, Inc. (Semiconductors & Semiconductor Equipment) | | | 192 | | | | 32,922 | |
| ANSYS, Inc.* (Software) | | | 62 | | | | 16,514 | |
| Aon PLC (Insurance) | | | 49 | | | | 15,615 | |
| Aptiv PLC* (Auto Components) | | | 189 | | | | 21,374 | |
| Archer-Daniels-Midland Co. (Food Products) | | | 198 | | | | 16,404 | |
| Arthur J. Gallagher & Co. (Insurance) | | | 52 | | | | 10,177 | |
| Assurant, Inc. (Insurance) | | | 38 | | | | 5,038 | |
| AT&T, Inc. (Diversified Telecommunication Services) | | | 4,999 | | | | 101,830 | |
| Atmos Energy Corp. (Gas Utilities) | | | 39 | | | | 4,584 | |
| Autodesk, Inc.* (Software) | | | 69 | | | | 14,846 | |
| AvalonBay Communities, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 96 | | | | 17,034 | |
| Avery Dennison Corp. (Containers & Packaging) | | | 56 | | | | 10,609 | |
| Baker Hughes Co. (Energy Equipment & Services) | | | 701 | | | | 22,250 | |
| Ball Corp. (Containers & Packaging) | | | 221 | | | | 12,871 | |
| Bank of America Corp. (Banks) | | | 4,894 | | | | 173,638 | |
| Bath & Body Works, Inc. (Specialty Retail) | | | 158 | | | | 7,270 | |
| Baxter International, Inc. (Health Care Equipment & Supplies) | | | 354 | | | | 16,174 | |
| Becton, Dickinson & Co. (Health Care Equipment & Supplies) | | | 200 | | | | 50,444 | |
| Berkshire Hathaway, Inc.*—Class B (Diversified Financial Services) | | | 1,265 | | | | 394,073 | |
| Best Buy Co., Inc. (Specialty Retail) | | | 140 | | | | 12,421 | |
| Biogen, Inc.* (Biotechnology) | | | 52 | | | | 15,127 | |
| Bio-Rad Laboratories, Inc.*—Class A (Life Sciences Tools & Services) | | | 16 | | | | 7,479 | |
| Bio-Techne Corp. (Life Sciences Tools & Services) | | | 56 | | | | 4,461 | |
| BlackRock, Inc.—Class A (Capital Markets) | | | 102 | | | | 77,439 | |
| Booking Holdings, Inc.* (Hotels, Restaurants & Leisure) | | | 28 | | | | 68,154 | |
| BorgWarner, Inc. (Auto Components) | | | 164 | | | | 7,754 | |
| Boston Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 101 | | | | 7,529 | |
| Boston Scientific Corp.* (Health Care Equipment & Supplies) | | | 472 | | | | 21,830 | |
| Broadcom, Inc. (Semiconductors & Semiconductor Equipment) | | | 114 | | | | 66,691 | |
| Broadridge Financial Solutions, Inc. (IT Services) | | | 44 | | | | 6,616 | |
| Brown & Brown, Inc. (Insurance) | | | 67 | | | | 3,924 | |
| Brown-Forman Corp.—Class B (Beverages) | | | 57 | | | | 3,795 | |
| C.H. Robinson Worldwide, Inc. (Air Freight & Logistics) | | | 39 | | | | 3,907 | |
| Caesars Entertainment, Inc.* (Hotels, Restaurants & Leisure) | | | 150 | | | | 7,809 | |
| Camden Property Trust (Equity Real Estate Investment Trusts (REITs)) | | | 74 | | | | 9,118 | |
| Campbell Soup Co. (Food Products) | | | 57 | | | | 2,960 | |
| Capital One Financial Corp. (Consumer Finance) | | | 268 | | | | 31,892 | |
| Cardinal Health, Inc. (Health Care Providers & Services) | | | 186 | | | | 14,369 | |
| CarMax, Inc.* (Specialty Retail) | | | 113 | | | | 7,961 | |
| Carnival Corp.*—Class A (Hotels, Restaurants & Leisure) | | | 697 | | | | 7,542 | |
| Carrier Global Corp. (Building Products) | | | 586 | | | | 26,681 | |
| Catalent, Inc.* (Pharmaceuticals) | | | 126 | | | | 6,747 | |
| Caterpillar, Inc. (Machinery) | | | 147 | | | | 37,087 | |
| Cboe Global Markets, Inc. (Capital Markets) | | | 25 | | | | 3,072 | |
| CBRE Group, Inc.*—Class A (Real Estate Management & Development) | | | 221 | | | | 18,898 | |
| CDW Corp. (Electronic Equipment, Instruments & Components) | | | 34 | | | | 6,665 | |
| Celanese Corp. (Chemicals) | | | 72 | | | | 8,870 | |
| Centene Corp.* (Health Care Providers & Services) | | | 399 | | | | 30,420 | |
| CenterPoint Energy, Inc. (Multi-Utilities) | | | 441 | | | | 13,283 | |
| Ceridian HCM Holding, Inc.* (Software) | | | 108 | | | | 7,806 | |
| Charles River Laboratories International, Inc.* (Life Sciences Tools & Services) | | | 34 | | | | 8,271 | |
| Charter Communications, Inc.*—Class A (Media) | | | 74 | | | | 28,439 | |
| Chubb, Ltd. (Insurance) | | | 126 | | | | 28,664 | |
| Church & Dwight Co., Inc. (Household Products) | | | 169 | | | | 13,665 | |
| Cigna Corp. (Health Care Providers & Services) | | | 109 | | | | 34,517 | |
| Cincinnati Financial Corp. (Insurance) | | | 109 | | | | 12,333 | |
| Cintas Corp. (Commercial Services & Supplies) | | | 25 | | | | 11,094 | |
| Cisco Systems, Inc. (Communications Equipment) | | | 2,879 | | | | 140,121 | |
| Citigroup, Inc. (Banks) | | | 1,357 | | | | 70,863 | |
| Citizens Financial Group, Inc. (Banks) | | | 343 | | | | 14,859 | |
| CME Group, Inc. (Capital Markets) | | | 254 | | | | 44,872 | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Large-Cap Value ProFund :: 75
Common Stocks, continued
| | | Shares | | | Value | |
| CMS Energy Corp. (Multi-Utilities) | | | 205 | | | $ | 12,954 | |
| Cognizant Technology Solutions Corp.—Class A (IT Services) | | | 360 | | | | 24,030 | |
| Colgate-Palmolive Co. (Household Products) | | | 263 | | | | 19,601 | |
| Comcast Corp.—Class A (Media) | | | 3,024 | | | | 118,993 | |
| Comerica, Inc. (Banks) | | | 89 | | | | 6,525 | |
| Conagra Brands, Inc. (Food Products) | | | 337 | | | | 12,533 | |
| Consolidated Edison, Inc. (Multi-Utilities) | | | 248 | | | | 23,637 | |
| Constellation Brands, Inc.—Class A (Beverages) | | | 51 | | | | 11,808 | |
| Constellation Energy Corp. (Electric Utilities) | | | 232 | | | | 19,804 | |
| Corning, Inc. (Electronic Equipment, Instruments & Components) | | | 533 | | | | 18,447 | |
| Corteva, Inc. (Chemicals) | | | 154 | | | | 9,925 | |
| Costco Wholesale Corp. (Food & Staples Retailing) | | | 102 | | | | 52,136 | |
| Crown Castle, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 306 | | | | 45,322 | |
| CSX Corp. (Road & Rail) | | | 768 | | | | 23,747 | |
| Cummins, Inc. (Machinery) | | | 49 | | | | 12,227 | |
| CVS Health Corp. (Health Care Providers & Services) | | | 921 | | | | 81,250 | |
| D.R. Horton, Inc. (Household Durables) | | | 109 | | | | 10,757 | |
| Darden Restaurants, Inc. (Hotels, Restaurants & Leisure) | | | 86 | | | | 12,725 | |
| DaVita, Inc.* (Health Care Providers & Services) | | | 39 | | | | 3,213 | |
| Delta Air Lines, Inc.* (Airlines) | | | 451 | | | | 17,633 | |
| DENTSPLY SIRONA, Inc. (Health Care Equipment & Supplies) | | | 150 | | | | 5,525 | |
| Digital Realty Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 200 | | | | 22,924 | |
| Discover Financial Services (Consumer Finance) | | | 80 | | | | 9,338 | |
| DISH Network Corp.*—Class A (Media) | | | 174 | | | | 2,504 | |
| Dominion Energy, Inc. (Multi-Utilities) | | | 583 | | | | 37,102 | |
| Domino's Pizza, Inc. (Hotels, Restaurants & Leisure) | | | 15 | | | | 5,295 | |
| Dover Corp. (Machinery) | | | 99 | | | | 15,031 | |
| Dow, Inc. (Chemicals) | | | 495 | | | | 29,378 | |
| DTE Energy Co. (Multi-Utilities) | | | 135 | | | | 15,710 | |
| Duke Energy Corp. (Electric Utilities) | | | 541 | | | | 55,425 | |
| DuPont de Nemours, Inc. (Chemicals) | | | 348 | | | | 25,735 | |
| DXC Technology Co.* (IT Services) | | | 161 | | | | 4,626 | |
| Eastman Chemical Co. (Chemicals) | | | 84 | | | | 7,406 | |
| Eaton Corp. PLC (Electrical Equipment) | | | 280 | | | | 45,419 | |
| eBay, Inc. (Internet & Direct Marketing Retail) | | | 381 | | | | 18,860 | |
| Ecolab, Inc. (Chemicals) | | | 172 | | | | 26,631 | |
| Edison International (Electric Utilities) | | | 268 | | | | 18,465 | |
| Edwards Lifesciences Corp.* (Health Care Equipment & Supplies) | | | 434 | | | | 33,288 | |
| Electronic Arts, Inc. (Entertainment) | | | 61 | | | | 7,849 | |
| Emerson Electric Co. (Electrical Equipment) | | | 414 | | | | 37,351 | |
| Entergy Corp. (Electric Utilities) | | | 142 | | | | 15,376 | |
| EPAM Systems, Inc.* (IT Services) | | | 15 | | | | 4,990 | |
| Equifax, Inc. (Professional Services) | | | 45 | | | | 9,999 | |
| Equinix, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 65 | | | | 47,978 | |
| Equity Residential (Equity Real Estate Investment Trusts (REITs)) | | | 238 | | | | 15,149 | |
| Essex Property Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 46 | | | | 10,399 | |
| Etsy, Inc.* (Internet & Direct Marketing Retail) | | | 38 | | | | 5,228 | |
| Everest Re Group, Ltd. (Insurance) | | | 15 | | | | 5,245 | |
| Evergy, Inc. (Electric Utilities) | | | 164 | | | | 10,275 | |
| Eversource Energy (Electric Utilities) | | | 242 | | | | 19,924 | |
| Exelon Corp. (Electric Utilities) | | | 698 | | | | 29,449 | |
| Expedia Group, Inc.* (Hotels, Restaurants & Leisure) | | | 102 | | | | 11,659 | |
| Extra Space Storage, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 46 | | | | 7,260 | |
| F5, Inc.* (Communications Equipment) | | | 44 | | | | 6,497 | |
| FactSet Research Systems, Inc. (Capital Markets) | | | 9 | | | | 3,806 | |
| Fastenal Co. (Trading Companies & Distributors) | | | 206 | | | | 10,413 | |
| Federal Realty Investment Trust (Equity Real Estate Investment Trusts (REITs)) | | | 52 | | | | 5,800 | |
| FedEx Corp. (Air Freight & Logistics) | | | 167 | | | | 32,375 | |
| Fidelity National Information Services, Inc. (IT Services) | | | 415 | | | | 31,142 | |
| Fifth Third Bancorp (Banks) | | | 479 | | | | 17,383 | |
| First Horizon Corp. (Banks) | | | 1 | | | | 21 | |
| First Republic Bank (Banks) | | | 129 | | | | 18,174 | |
| FirstEnergy Corp. (Electric Utilities) | | | 380 | | | | 15,561 | |
| Fiserv, Inc.* (IT Services) | | | 138 | | | | 14,722 | |
| FleetCor Technologies, Inc.* (IT Services) | | | 25 | | | | 5,220 | |
| Ford Motor Co. (Automobiles) | | | 2,765 | | | | 37,355 | |
| Fortive Corp. (Machinery) | | | 246 | | | | 16,735 | |
| Fox Corp.—Class A (Media) | | | 211 | | | | 7,161 | |
| Fox Corp.—Class B (Media) | | | 98 | | | | 3,107 | |
| Franklin Resources, Inc. (Capital Markets) | | | 200 | | | | 6,240 | |
| Garmin, Ltd. (Household Durables) | | | 108 | | | | 10,679 | |
| GE HealthCare Technologies, Inc.* (Health Care Equipment & Supplies) | | | 254 | | | | 17,658 | |
| Gen Digital, Inc. (Software) | | | 190 | | | | 4,372 | |
| Generac Holdings, Inc.* (Electrical Equipment) | | | 45 | | | | 5,427 | |
| General Dynamics Corp. (Aerospace & Defense) | | | 74 | | | | 17,246 | |
| General Electric Co. (Industrial Conglomerates) | | | 763 | | | | 61,406 | |
| General Mills, Inc. (Food Products) | | | 133 | | | | 10,422 | |
| General Motors Co. (Automobiles) | | | 999 | | | | 39,281 | |
| Genuine Parts Co. (Distributors) | | | 28 | | | | 4,699 | |
| Global Payments, Inc. (IT Services) | | | 189 | | | | 21,304 | |
| Globe Life, Inc. (Insurance) | | | 22 | | | | 2,659 | |
| Halliburton Co. (Energy Equipment & Services) | | | 637 | | | | 26,257 | |
| Hartford Financial Services Group, Inc. (Insurance) | | | 223 | | | | 17,307 | |
| Hasbro, Inc. (Leisure Products) | | | 89 | | | | 5,266 | |
| HCA Healthcare, Inc. (Health Care Providers & Services) | | | 69 | | | | 17,600 | |
| Healthpeak Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 377 | | | | 10,360 | |
| Henry Schein, Inc.* (Health Care Providers & Services) | | | 95 | | | | 8,184 | |
| Hewlett Packard Enterprises Co. (Technology Hardware, Storage & Peripherals) | | | 901 | | | | 14,533 | |
| Hilton Worldwide Holdings, Inc. (Hotels, Restaurants & Leisure) | | | 99 | | | | 14,364 | |
| Honeywell International, Inc. (Industrial Conglomerates) | | | 472 | | | | 98,402 | |
| Hormel Foods Corp. (Food Products) | | | 56 | | | | 2,537 | |
| Host Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 498 | | | | 9,387 | |
| Howmet Aerospace, Inc. (Aerospace & Defense) | | | 258 | | | | 10,498 | |
| HP, Inc. (Technology Hardware, Storage & Peripherals) | | | 619 | | | | 18,038 | |
See accompanying notes to the financial statements.
76 :: Large-Cap Value ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Humana, Inc. (Health Care Providers & Services) | | | 31 | | | $ | 15,863 | |
| Huntington Bancshares, Inc. (Banks) | | | 1,008 | | | | 15,291 | |
| Huntington Ingalls Industries, Inc. (Aerospace & Defense) | | | 28 | | | | 6,175 | |
| IDEX Corp. (Machinery) | | | 24 | | | | 5,752 | |
| IDEXX Laboratories, Inc.* (Health Care Equipment & Supplies) | | | 29 | | | | 13,935 | |
| Illinois Tool Works, Inc. (Machinery) | | | 95 | | | | 22,424 | |
| Illumina, Inc.* (Life Sciences Tools & Services) | | | 113 | | | | 24,205 | |
| Ingersoll Rand, Inc. (Machinery) | | | 286 | | | | 16,016 | |
| Intel Corp. (Semiconductors & Semiconductor Equipment) | | | 2,894 | | | | 81,784 | |
| Intercontinental Exchange, Inc. (Capital Markets) | | | 392 | | | | 42,160 | |
| International Business Machines Corp. (IT Services) | | | 636 | | | | 85,687 | |
| International Flavors & Fragrances, Inc. (Chemicals) | | | 180 | | | | 20,243 | |
| International Paper Co. (Containers & Packaging) | | | 250 | | | | 10,455 | |
| Intuit, Inc. (Software) | | | 93 | | | | 39,308 | |
| Intuitive Surgical, Inc.* (Health Care Equipment & Supplies) | | | 127 | | | | 31,203 | |
| Invesco, Ltd. (Capital Markets) | | | 317 | | | | 5,868 | |
| Invitation Homes, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 406 | | | | 13,195 | |
| IQVIA Holdings, Inc.* (Life Sciences Tools & Services) | | | 67 | | | | 15,370 | |
| Iron Mountain, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 78 | | | | 4,257 | |
| Jacobs Solutions, Inc. (Professional Services) | | | 89 | | | | 10,996 | |
| Johnson & Johnson (Pharmaceuticals) | | | 695 | | | | 113,577 | |
| Johnson Controls International PLC (Building Products) | | | 483 | | | | 33,602 | |
| JPMorgan Chase & Co. (Banks) | | | 2,057 | | | | 287,897 | |
| Juniper Networks, Inc. (Communications Equipment) | | | 228 | | | | 7,364 | |
| Kellogg Co. (Food Products) | | | 80 | | | | 5,486 | |
| Keurig Dr Pepper, Inc. (Beverages) | | | 297 | | | | 10,478 | |
| KeyCorp (Banks) | | | 653 | | | | 12,531 | |
| Keysight Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 56 | | | | 10,044 | |
| Kimberly-Clark Corp. (Household Products) | | | 123 | | | | 15,991 | |
| Kimco Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 433 | | | | 9,725 | |
| Kinder Morgan, Inc. (Oil, Gas & Consumable Fuels) | | | 1,388 | | | | 25,400 | |
| L3Harris Technologies, Inc. (Aerospace & Defense) | | | 67 | | | | 14,393 | |
| Laboratory Corp. of America Holdings (Health Care Providers & Services) | | | 64 | | | | 16,136 | |
| Las Vegas Sands Corp.* (Hotels, Restaurants & Leisure) | | | 232 | | | | 13,688 | |
| Leidos Holdings, Inc. (Professional Services) | | | 33 | | | | 3,262 | |
| Lennar Corp.—Class A (Household Durables) | | | 180 | | | | 18,432 | |
| Lincoln National Corp. (Insurance) | | | 108 | | | | 3,826 | |
| Linde PLC (Chemicals) | | | 135 | | | | 44,678 | |
| Live Nation Entertainment, Inc.* (Entertainment) | | | 101 | | | | 8,129 | |
| LKQ Corp. (Distributors) | | | 178 | | | | 10,495 | |
| Lockheed Martin Corp. (Aerospace & Defense) | | | 46 | | | | 21,310 | |
| Loews Corp. (Insurance) | | | 138 | | | | 8,484 | |
| Lowe's Cos., Inc. (Specialty Retail) | | | 135 | | | | 28,114 | |
| Lumen Technologies, Inc. (Diversified Telecommunication Services) | | | 657 | | | | 3,449 | |
| LyondellBasell Industries N.V.—Class A (Chemicals) | | | 180 | | | | 17,404 | |
| M&T Bank Corp. (Banks) | | | 121 | | | | 18,876 | |
| Marathon Petroleum Corp. (Oil, Gas & Consumable Fuels) | | | 169 | | | | 21,720 | |
| MarketAxess Holdings, Inc. (Capital Markets) | | | 15 | | | | 5,458 | |
| Marriott International, Inc.—Class A (Hotels, Restaurants & Leisure) | | | 94 | | | | 16,311 | |
| Marsh & McLennan Cos., Inc. (Insurance) | | | 126 | | | | 22,039 | |
| Martin Marietta Materials, Inc. (Construction Materials) | | | 45 | | | | 16,184 | |
| Masco Corp. (Building Products) | | | 45 | | | | 2,394 | |
| Match Group, Inc.* (Interactive Media & Services) | | | 194 | | | | 10,499 | |
| McCormick & Co., Inc. (Food Products) | | | 87 | | | | 6,535 | |
| McDonald's Corp. (Hotels, Restaurants & Leisure) | | | 193 | | | | 51,608 | |
| McKesson Corp. (Health Care Providers & Services) | | | 52 | | | | 19,691 | |
| Medtronic PLC (Health Care Equipment & Supplies) | | | 931 | | | | 77,914 | |
| Meta Platforms, Inc.*—Class A (Interactive Media & Services) | | | 1,576 | | | | 234,777 | |
| MetLife, Inc. (Insurance) | | | 461 | | | | 33,663 | |
| Mettler-Toledo International, Inc.* (Life Sciences Tools & Services) | | | 6 | | | | 9,198 | |
| MGM Resorts International (Hotels, Restaurants & Leisure) | | | 222 | | | | 9,193 | |
| Microchip Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 198 | | | | 15,369 | |
| Micron Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 762 | | | | 45,949 | |
| Microsoft Corp. (Software) | | | 2,197 | | | | 544,439 | |
| Mid-America Apartment Communities, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 80 | | | | 13,338 | |
| Mohawk Industries, Inc.* (Household Durables) | | | 38 | | | | 4,562 | |
| Molson Coors Beverage Co.—Class B (Beverages) | | | 133 | | | | 6,993 | |
| Mondelez International, Inc.—Class A (Food Products) | | | 439 | | | | 28,729 | |
| Moody's Corp. (Capital Markets) | | | 56 | | | | 18,074 | |
| Morgan Stanley (Capital Markets) | | | 926 | | | | 90,127 | |
| Motorola Solutions, Inc. (Communications Equipment) | | | 52 | | | | 13,365 | |
| MSCI, Inc. (Capital Markets) | | | 25 | | | | 13,289 | |
| Nasdaq, Inc. (Capital Markets) | | | 86 | | | | 5,176 | |
| NetApp, Inc. (Technology Hardware, Storage & Peripherals) | | | 152 | | | | 10,067 | |
| Netflix, Inc.* (Entertainment) | | | 312 | | | | 110,405 | |
| Newell Brands, Inc. (Household Durables) | | | 264 | | | | 4,213 | |
| Newmont Corp. (Metals & Mining) | | | 556 | | | | 29,429 | |
| News Corp.—Class A (Media) | | | 266 | | | | 5,389 | |
| News Corp.—Class B (Media) | | | 81 | | | | 1,656 | |
| NextEra Energy, Inc. (Electric Utilities) | | | 1,394 | | | | 104,034 | |
| NIKE, Inc.—Class B (Textiles, Apparel & Luxury Goods) | | | 882 | | | | 112,305 | |
| NiSource, Inc. (Multi-Utilities) | | | 286 | | | | 7,937 | |
| Nordson Corp. (Machinery) | | | 39 | | | | 9,489 | |
| Norfolk Southern Corp. (Road & Rail) | | | 163 | | | | 40,067 | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Large-Cap Value ProFund :: 77
Common Stocks, continued
| | | Shares | | | Value | |
| Northern Trust Corp. (Capital Markets) | | | 147 | | | $ | 14,255 | |
| Northrop Grumman Corp. (Aerospace & Defense) | | | 29 | | | | 12,993 | |
| Norwegian Cruise Line Holdings, Ltd.*(a) (Hotels, Restaurants & Leisure) | | | 293 | | | | 4,457 | |
| NRG Energy, Inc. (Electric Utilities) | | | 85 | | | | 2,909 | |
| NVR, Inc.* (Household Durables) | | | 1 | | | | 5,270 | |
| NXP Semiconductors N.V. (Semiconductors & Semiconductor Equipment) | | | 74 | | | | 13,639 | |
| Omnicom Group, Inc. (Media) | | | 142 | | | | 12,211 | |
| Oracle Corp. (Software) | | | 441 | | | | 39,011 | |
| Organon & Co. (Pharmaceuticals) | | | 178 | | | | 5,363 | |
| Otis Worldwide Corp. (Machinery) | | | 292 | | | | 24,011 | |
| PACCAR, Inc. (Machinery) | | | 242 | | | | 26,453 | |
| Packaging Corp. of America (Containers & Packaging) | | | 65 | | | | 9,276 | |
| Paramount Global—Class B (Media) | | | 351 | | | | 8,129 | |
| Parker-Hannifin Corp. (Machinery) | | | 89 | | | | 29,014 | |
| Paychex, Inc. (IT Services) | | | 96 | | | | 11,123 | |
| PayPal Holdings, Inc.* (IT Services) | | | 800 | | | | 65,191 | |
| Pentair PLC (Machinery) | | | 116 | | | | 6,424 | |
| PerkinElmer, Inc. (Life Sciences Tools & Services) | | | 89 | | | | 12,240 | |
| Philip Morris International, Inc. (Tobacco) | | | 501 | | | | 52,224 | |
| Phillips 66 (Oil, Gas & Consumable Fuels) | | | 334 | | | | 33,490 | |
| Pinnacle West Capital Corp. (Electric Utilities) | | | 80 | | | | 5,964 | |
| Pool Corp. (Distributors) | | | 9 | | | | 3,470 | |
| PPG Industries, Inc. (Chemicals) | | | 165 | | | | 21,506 | |
| PPL Corp. (Electric Utilities) | | | 515 | | | | 15,244 | |
| Principal Financial Group, Inc. (Insurance) | | | 64 | | | | 5,923 | |
| Prologis, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 646 | | | | 83,515 | |
| Prudential Financial, Inc. (Insurance) | | | 258 | | | | 27,075 | |
| Public Service Enterprise Group, Inc. (Multi-Utilities) | | | 351 | | | | 21,737 | |
| Public Storage (Equity Real Estate Investment Trusts (REITs)) | | | 44 | | | | 13,391 | |
| PulteGroup, Inc. (Household Durables) | | | 159 | | | | 9,046 | |
| Qorvo, Inc.* (Semiconductors & Semiconductor Equipment) | | | 72 | | | | 7,824 | |
| Quest Diagnostics, Inc. (Health Care Providers & Services) | | | 28 | | | | 4,157 | |
| Ralph Lauren Corp. (Textiles, Apparel & Luxury Goods) | | | 29 | | | | 3,592 | |
| Raytheon Technologies Corp. (Aerospace & Defense) | | | 1,029 | | | | 102,745 | |
| Realty Income Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 439 | | | | 29,777 | |
| Regency Centers Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 108 | | | | 7,196 | |
| Regions Financial Corp. (Banks) | | | 656 | | | | 15,442 | |
| Republic Services, Inc. (Commercial Services & Supplies) | | | 65 | | | | 8,113 | |
| ResMed, Inc. (Health Care Equipment & Supplies) | | | 46 | | | | 10,505 | |
| Robert Half International, Inc. (Professional Services) | | | 78 | | | | 6,549 | |
| Rockwell Automation, Inc. (Electrical Equipment) | | | 80 | | | | 22,562 | |
| Roper Technologies, Inc. (Software) | | | 74 | | | | 31,580 | |
| Ross Stores, Inc. (Specialty Retail) | | | 242 | | | | 28,602 | |
| Royal Caribbean Cruises, Ltd.* (Hotels, Restaurants & Leisure) | | | 153 | | | | 9,936 | |
| S&P Global, Inc. (Capital Markets) | | | 233 | | | | 87,361 | |
| Salesforce, Inc.* (Software) | | | 701 | | | | 117,747 | |
| SBA Communications Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 33 | | | | 9,818 | |
| Schlumberger, Ltd. (Energy Equipment & Services) | | | 467 | | | | 26,610 | |
| Seagate Technology Holdings PLC (Technology Hardware, Storage & Peripherals) | | | 132 | | | | 8,947 | |
| Sealed Air Corp. (Containers & Packaging) | | | 103 | | | | 5,640 | |
| Sempra Energy (Multi-Utilities) | | | 89 | | | | 14,269 | |
| Signature Bank (Banks) | | | 45 | | | | 5,803 | |
| Simon Property Group, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 232 | | | | 29,803 | |
| Skyworks Solutions, Inc. (Semiconductors & Semiconductor Equipment) | | | 113 | | | | 12,393 | |
| Snap-on, Inc. (Machinery) | | | 18 | | | | 4,477 | |
| Southwest Airlines Co. (Airlines) | | | 417 | | | | 14,916 | |
| Stanley Black & Decker, Inc. (Machinery) | | | 102 | | | | 9,110 | |
| Starbucks Corp. (Hotels, Restaurants & Leisure) | | | 394 | | | | 43,001 | |
| State Street Corp. (Capital Markets) | | | 256 | | | | 23,380 | |
| STERIS PLC (Health Care Equipment & Supplies) | | | 72 | | | | 14,869 | |
| Stryker Corp. (Health Care Equipment & Supplies) | | | 238 | | | | 60,407 | |
| SVB Financial Group* (Banks) | | | 40 | | | | 12,098 | |
| Synchrony Financial (Consumer Finance) | | | 317 | | | | 11,643 | |
| Sysco Corp. (Food & Staples Retailing) | | | 354 | | | | 27,421 | |
| T. Rowe Price Group, Inc. (Capital Markets) | | | 158 | | | | 18,402 | |
| Take-Two Interactive Software, Inc.* (Entertainment) | | | 113 | | | | 12,795 | |
| Tapestry, Inc. (Textiles, Apparel & Luxury Goods) | | | 170 | | | | 7,747 | |
| Target Corp. (Multiline Retail) | | | 323 | | | | 55,601 | |
| TE Connectivity, Ltd. (Electronic Equipment, Instruments & Components) | | | 223 | | | | 28,354 | |
| Teledyne Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 33 | | | | 14,001 | |
| Teleflex, Inc. (Health Care Equipment & Supplies) | | | 33 | | | | 8,033 | |
| Teradyne, Inc. (Semiconductors & Semiconductor Equipment) | | | 56 | | | | 5,695 | |
| Texas Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 238 | | | | 42,176 | |
| Textron, Inc. (Aerospace & Defense) | | | 146 | | | | 10,636 | |
| The AES Corp. (Independent Power and Renewable Electricity Producers) | | | 191 | | | | 5,235 | |
| The Allstate Corp. (Insurance) | | | 186 | | | | 23,895 | |
| The Bank of New York Mellon Corp. (Capital Markets) | | | 515 | | | | 26,044 | |
| The Boeing Co.* (Aerospace & Defense) | | | 392 | | | | 83,496 | |
| The Charles Schwab Corp. (Capital Markets) | | | 438 | | | | 33,910 | |
| The Clorox Co. (Household Products) | | | 46 | | | | 6,656 | |
| The Coca-Cola Co. (Beverages) | | | 956 | | | | 58,622 | |
| The Cooper Cos., Inc. (Health Care Equipment & Supplies) | | | 34 | | | | 11,864 | |
| The Estee Lauder Cos., Inc. (Personal Products) | | | 163 | | | | 45,164 | |
| The Goldman Sachs Group, Inc. (Capital Markets) | | | 238 | | | | 87,063 | |
| The Home Depot, Inc. (Specialty Retail) | | | 340 | | | | 110,217 | |
| The Interpublic Group of Cos., Inc. (Media) | | | 273 | | | | 9,954 | |
See accompanying notes to the financial statements.
78 :: Large-Cap Value ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| The JM Smucker Co.—Class A (Food Products) | | | 74 | | | $ | 11,307 | |
| The Kraft Heinz Co. (Food Products) | | | 557 | | | | 22,576 | |
| The Kroger Co. (Food & Staples Retailing) | | | 454 | | | | 20,262 | |
| The PNC Financial Services Group, Inc. (Banks) | | | 283 | | | | 46,817 | |
| The Procter & Gamble Co. (Household Products) | | | 749 | | | | 106,643 | |
| The Sherwin-Williams Co. (Chemicals) | | | 165 | | | | 39,037 | |
| The Southern Co. (Electric Utilities) | | | 763 | | | | 51,640 | |
| The TJX Cos., Inc. (Specialty Retail) | | | 294 | | | | 24,067 | |
| The Travelers Cos., Inc. (Insurance) | | | 78 | | | | 14,907 | |
| The Walt Disney Co.* (Entertainment) | | | 1,280 | | | | 138,868 | |
| T-Mobile U.S., Inc.* (Wireless Telecommunication Services) | | | 133 | | | | 19,858 | |
| Trane Technologies PLC (Building Products) | | | 163 | | | | 29,197 | |
| TransDigm Group, Inc. (Aerospace & Defense) | | | 22 | | | | 15,791 | |
| Trimble, Inc.* (Electronic Equipment, Instruments & Components) | | | 172 | | | | 9,986 | |
| Truist Financial Corp. (Banks) | | | 928 | | | | 45,834 | |
| Tyler Technologies, Inc.* (Software) | | | 16 | | | | 5,164 | |
| Tyson Foods, Inc.—Class A (Food Products) | | | 200 | | | | 13,150 | |
| U.S. Bancorp (Banks) | | | 948 | | | | 47,210 | |
| UDR, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 215 | | | | 9,157 | |
| Union Pacific Corp. (Road & Rail) | | | 216 | | | | 44,105 | |
| United Airlines Holdings, Inc.* (Airlines) | | | 232 | | | | 11,359 | |
| United Parcel Service, Inc.—Class B (Air Freight & Logistics) | | | 510 | | | | 94,467 | |
| United Rentals, Inc.* (Trading Companies & Distributors) | | | 49 | | | | 21,607 | |
| Universal Health Services, Inc.—Class B (Health Care Providers & Services) | | | 46 | | | | 6,818 | |
| Valero Energy Corp. (Oil, Gas & Consumable Fuels) | | | 272 | | | | 38,088 | |
| Ventas, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 280 | | | | 14,507 | |
| VeriSign, Inc.* (IT Services) | | | 33 | | | | 7,196 | |
| Verisk Analytics, Inc. (Professional Services) | | | 61 | | | | 11,089 | |
| Verizon Communications, Inc. (Diversified Telecommunication Services) | | | 2,944 | | | | 122,382 | |
| VF Corp. (Textiles, Apparel & Luxury Goods) | | | 233 | | | | 7,209 | |
| Viatris, Inc. (Pharmaceuticals) | | | 848 | | | | 10,312 | |
| VICI Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 291 | | | | 9,946 | |
| Vulcan Materials Co. (Construction Materials) | | | 39 | | | | 7,150 | |
| Walgreens Boots Alliance, Inc. (Food & Staples Retailing) | | | 503 | | | | 18,541 | |
| Walmart, Inc. (Food & Staples Retailing) | | | 988 | | | | 142,144 | |
| Warner Bros Discovery, Inc.* (Entertainment) | | | 1,549 | | | | 22,957 | |
| Waste Management, Inc. (Commercial Services & Supplies) | | | 108 | | | | 16,711 | |
| WEC Energy Group, Inc. (Multi-Utilities) | | | 106 | | | | 9,963 | |
| Wells Fargo & Co. (Banks) | | | 2,671 | | | | 125,190 | |
| Welltower, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 332 | | | | 24,913 | |
| West Pharmaceutical Services, Inc. (Life Sciences Tools & Services) | | | 52 | | | | 13,811 | |
| Western Digital Corp.* (Technology Hardware, Storage & Peripherals) | | | 220 | | | | 9,669 | |
| Westinghouse Air Brake Technologies Corp. (Machinery) | | | 127 | | | | 13,184 | |
| WestRock Co. (Containers & Packaging) | | | 177 | | | | 6,945 | |
| Weyerhaeuser Co. (Equity Real Estate Investment Trusts (REITs)) | | | 221 | | | | 7,609 | |
| Whirlpool Corp. (Household Durables) | | | 39 | | | | 6,068 | |
| Willis Towers Watson PLC (Insurance) | | | 78 | | | | 19,827 | |
| Wynn Resorts, Ltd.* (Hotels, Restaurants & Leisure) | | | 72 | | | | 7,462 | |
| Xcel Energy, Inc. (Electric Utilities) | | | 385 | | | | 26,476 | |
| Xylem, Inc. (Machinery) | | | 127 | | | | 13,209 | |
| Yum! Brands, Inc. (Hotels, Restaurants & Leisure) | | | 72 | | | | 9,397 | |
| Zebra Technologies Corp.* (Electronic Equipment, Instruments & Components) | | | 38 | | | | 12,015 | |
| Zimmer Biomet Holdings, Inc. (Health Care Equipment & Supplies) | | | 148 | | | | 18,846 | |
| Zions Bancorp (Banks) | | | 103 | | | | 5,475 | |
| Zoetis, Inc. (Pharmaceuticals) | | | 328 | | | | 54,281 | |
TOTAL COMMON STOCKS
(Cost $9,322,456) | | | | | | | 11,545,223 | |
Repurchase Agreements(b) (0.7%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $85,010 | | $ | 85,000 | | | $ | 85,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $85,000) | | | | | | | 85,000 | |
Collateral for Securities Loaned(c)(NM)
| | | Shares | | | Value | |
| Invesco Government & Agency Portfolio—Institutional Shares, 4.32%(d) | | | 320 | | | $ | 320 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $320) | | | | | | | 320 | |
TOTAL INVESTMENT SECURITIES
(Cost $9,407,776)—100.1% | | | | | | | 11,630,543 | |
| Net other assets (liabilities)—(0.1)% | | | | | | | (17,015 | ) |
| NET ASSETS—100.0% | | | | | | $ | 11,613,528 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $319. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (c) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (d) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
| NM | Not meaningful, amount is less than 0.05%. |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Large-Cap Value ProFund :: 79
Large-Cap Value ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 295,284 | | | | 2.5 | % |
| Air Freight & Logistics | | | 130,749 | | | | 1.1 | % |
| Airlines | | | 55,857 | | | | 0.5 | % |
| Auto Components | | | 29,128 | | | | 0.3 | % |
| Automobiles | | | 76,636 | | | | 0.7 | % |
| Banks | | | 939,927 | | | | 8.1 | % |
| Beverages | | | 91,696 | | | | 0.8 | % |
| Biotechnology | | | 15,127 | | | | 0.1 | % |
| Building Products | | | 105,255 | | | | 0.9 | % |
| Capital Markets | | | 605,996 | | | | 5.2 | % |
| Chemicals | | | 250,813 | | | | 2.2 | % |
| Commercial Services & Supplies | | | 35,918 | | | | 0.3 | % |
| Communications Equipment | | | 167,347 | | | | 1.4 | % |
| Construction Materials | | | 23,334 | | | | 0.2 | % |
| Consumer Finance | | | 90,484 | | | | 0.8 | % |
| Containers & Packaging | | | 68,350 | | | | 0.6 | % |
| Distributors | | | 18,664 | | | | 0.2 | % |
| Diversified Financial Services | | | 394,073 | | | | 3.4 | % |
| Diversified Telecommunication Services | | | 227,661 | | | | 2.0 | % |
| Electric Utilities | | | 433,934 | | | | 3.7 | % |
| Electrical Equipment | | | 122,353 | | | | 1.1 | % |
| Electronic Equipment, Instruments & Components | | | 99,512 | | | | 0.9 | % |
| Energy Equipment & Services | | | 75,116 | | | | 0.6 | % |
| Entertainment | | | 316,775 | | | | 2.7 | % |
| Equity Real Estate Investment Trusts (REITs) | | | 539,205 | | | | 4.6 | % |
| Food & Staples Retailing | | | 260,503 | | | | 2.2 | % |
| Food Products | | | 132,639 | | | | 1.1 | % |
| Gas Utilities | | | 4,584 | | | | NM | |
| Health Care Equipment & Supplies | | | 471,144 | | | | 4.1 | % |
| Health Care Providers & Services | | | 271,479 | | | | 2.3 | % |
| Hotels, Restaurants & Leisure | | | 292,601 | | | | 2.5 | % |
| Household Durables | | | 69,027 | | | | 0.6 | % |
| Household Products | | | 162,556 | | | | 1.4 | % |
| Independent Power and Renewable Electricity Producers | | | 5,235 | | | | NM | |
| Industrial Conglomerates | | | 204,460 | | | | 1.8 | % |
| Insurance | | | 322,866 | | | | 2.8 | % |
| Interactive Media & Services | | | 245,276 | | | | 2.1 | % |
| Internet & Direct Marketing Retail | | | 370,604 | | | | 3.2 | % |
| IT Services | | | 354,519 | | | | 3.1 | % |
| Leisure Products | | | 5,266 | | | | 0.1 | % |
| Life Sciences Tools & Services | | | 107,809 | | | | 0.9 | % |
| Machinery | | | 260,644 | | | | 2.2 | % |
| Media | | | 197,543 | | | | 1.7 | % |
| Metals & Mining | | | 29,429 | | | | 0.3 | % |
| Multiline Retail | | | 55,601 | | | | 0.5 | % |
| Multi-Utilities | | | 172,402 | | | | 1.5 | % |
| Oil, Gas & Consumable Fuels | | | 118,699 | | | | 1.0 | % |
| Personal Products | | | 45,164 | | | | 0.4 | % |
| Pharmaceuticals | | | 190,280 | | | | 1.6 | % |
| Professional Services | | | 41,895 | | | | 0.4 | % |
| Real Estate Management & Development | | | 18,898 | | | | 0.2 | % |
| Road & Rail | | | 107,919 | | | | 0.9 | % |
| Semiconductors & Semiconductor Equipment | | | 363,595 | | | | 3.1 | % |
| Software | | | 884,485 | | | | 7.6 | % |
| Specialty Retail | | | 225,352 | | | | 1.9 | % |
| Technology Hardware, Storage & Peripherals | | | 61,254 | | | | 0.5 | % |
| Textiles, Apparel & Luxury Goods | | | 130,853 | | | | 1.1 | % |
| Tobacco | | | 79,383 | | | | 0.7 | % |
| Trading Companies & Distributors | | | 32,020 | | | | 0.3 | % |
| Water Utilities | | | 20,187 | | | | 0.2 | % |
| Wireless Telecommunication Services | | | 19,858 | | | | 0.2 | % |
| Other** | | | 68,305 | | | | 0.6 | % |
| Total | | $ | 11,613,528 | | | | 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.
80 :: Materials UltraSector ProFund† :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks (72.9%)
| | | Shares | | | Value | |
| Air Products & Chemicals, Inc. (Chemicals) | | | 1,119 | | | $ | 358,651 | |
| Albemarle Corp. (Chemicals) | | | 591 | | | | 166,337 | |
| Alcoa Corp. (Metals & Mining) | | | 893 | | | | 46,650 | |
| Ashland, Inc. (Chemicals) | | | 251 | | | | 27,427 | |
| Axalta Coating Systems, Ltd.* (Chemicals) | | | 1,113 | | | | 33,501 | |
| Celanese Corp. (Chemicals) | | | 503 | | | | 61,970 | |
| CF Industries Holdings, Inc. (Chemicals) | | | 990 | | | | 83,853 | |
| Cleveland-Cliffs, Inc.* (Metals & Mining) | | | 2,601 | | | | 55,531 | |
| Commercial Metals Co. (Metals & Mining) | | | 593 | | | | 32,182 | |
| Corteva, Inc. (Chemicals) | | | 3,606 | | | | 232,407 | |
| Dow, Inc. (Chemicals) | | | 3,552 | | | | 210,811 | |
| DuPont de Nemours, Inc. (Chemicals) | | | 2,507 | | | | 185,393 | |
| Eastman Chemical Co. (Chemicals) | | | 606 | | | | 53,431 | |
| Ecolab, Inc. (Chemicals) | | | 1,251 | | | | 193,692 | |
| Element Solutions, Inc. (Chemicals) | | | 1,136 | | | | 23,265 | |
| FMC Corp. (Chemicals) | | | 636 | | | | 84,671 | |
| Freeport-McMoRan, Inc. (Metals & Mining) | | | 7,214 | | | | 321,888 | |
| Ginkgo Bioworks Holdings, Inc.*(a) (Chemicals) | | | 4,485 | | | | 8,746 | |
| Huntsman Corp. (Chemicals) | | | 911 | | | | 28,870 | |
| International Flavors & Fragrances, Inc. (Chemicals) | | | 1,287 | | | | 144,736 | |
| Linde PLC (Chemicals) | | | 2,495 | | | | 825,695 | |
| LyondellBasell Industries N.V.—Class A (Chemicals) | | | 1,282 | | | | 123,957 | |
| MP Materials Corp.* (Metals & Mining) | | | 466 | | | | 15,150 | |
| NewMarket Corp. (Chemicals) | | | 34 | | | | 11,713 | |
| Newmont Corp. (Metals & Mining) | | | 4,006 | | | | 212,038 | |
| Nucor Corp. (Metals & Mining) | | | 1,295 | | | | 218,881 | |
| Olin Corp. (Chemicals) | | | 643 | | | | 41,531 | |
| PPG Industries, Inc. (Chemicals) | | | 1,186 | | | | 154,583 | |
| Reliance Steel & Aluminum Co. (Metals & Mining) | | | 296 | | | | 67,325 | |
| Royal Gold, Inc. (Metals & Mining) | | | 331 | | | | 42,047 | |
| RPM International, Inc. (Chemicals) | | | 652 | | | | 58,621 | |
| Steel Dynamics, Inc. (Metals & Mining) | | | 842 | | | | 101,579 | |
| The Chemours Co. (Chemicals) | | | 762 | | | | 27,729 | |
| The Mosaic Co. (Chemicals) | | | 1,718 | | | | 85,110 | |
| The Scotts Miracle-Gro Co.(a) (Chemicals) | | | 204 | | | | 14,727 | |
| United States Steel Corp. (Metals & Mining) | | | 1,183 | | | | 33,704 | |
| Valvoline, Inc. (Chemicals) | | | 893 | | | | 32,737 | |
| Westlake Corp. (Chemicals) | | | 174 | | | | 21,359 | |
TOTAL COMMON STOCKS
(Cost $1,773,978) | | | | | | | 4,442,498 | |
Repurchase Agreements(b)(c) (26.7%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $1,626,190 | | $ | 1,626,000 | | | $ | 1,626,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $1,626,000) | | | | | | | 1,626,000 | |
Collateral for Securities Loaned(d) (0.4%)
| | | Shares | | | Value | |
| Invesco Government & Agency Portfolio—Institutional Shares, 4.32%(e) | | | 22,671 | | | $ | 22,671 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $22,671) | | | | | | | 22,671 | |
TOTAL INVESTMENT SECURITIES
(Cost $3,422,649)—100.0% | | | | | | | 6,091,169 | |
| Net other assets (liabilities)—NM | | | | | | | 2,928 | |
| NET ASSETS—100.0% | | | | | | $ | 6,094,097 | |
| † | As described in Note 11, effective March 17, 2023, this ProFund's name changed due to a change to its underlying benchmark index. |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $23,398. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $434,000. |
| (d) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (e) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
| 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. Basic Materials Index | | Goldman Sachs International | | 2/23/23 | | | 4.93 | % | | $ | 2,104,149 | | | $ | 46,580 | |
| Dow Jones U.S. Basic Materials Index | | UBS AG | | 2/23/23 | | | 4.68 | % | | | 2,584,506 | | | | 60,033 | |
| | | | | | | | | | | $ | 4,688,655 | | | $ | 106,613 | |
| (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, 2023, 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: Materials UltraSector ProFund† :: 81
Materials UltraSector ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Chemicals | | $ | 3,295,522 | | | | 54.1 | % |
| Metals & Mining | | | 1,146,976 | | | | 18.8 | % |
| Other** | | | 1,651,599 | | | | 27.1 | % |
| Total | | $ | 6,094,097 | | | | 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, 2023 (unaudited)
Common Stocks (99.4%)
| | | Shares | | | Value | |
| Acadia Healthcare Co., Inc.* (Health Care Providers & Services) | | | 161 | | | $ | 13,527 | |
| Acuity Brands, Inc. (Electrical Equipment) | | | 48 | | | | 9,049 | |
| AECOM (Construction & Engineering) | | | 232 | | | | 20,247 | |
| Affiliated Managers Group, Inc. (Capital Markets) | | | 77 | | | | 13,301 | |
| AGCO Corp. (Machinery) | | | 100 | | | | 13,813 | |
| Allegro MicroSystems, Inc.* (Semiconductors & Semiconductor Equipment) | | | 78 | | | | 2,977 | |
| American Financial Group, Inc. (Insurance) | | | 99 | | | | 14,116 | |
| Amkor Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 310 | | | | 9,071 | |
| Annaly Capital Management, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 1,447 | | | | 33,961 | |
| Antero Midstream Corp. (Oil, Gas & Consumable Fuels) | | | 1,037 | | | | 11,303 | |
| Antero Resources Corp.* (Oil, Gas & Consumable Fuels) | | | 855 | | | | 24,658 | |
| AptarGroup, Inc. (Containers & Packaging) | | | 95 | | | | 10,986 | |
| Arrowhead Pharmaceuticals, Inc.* (Biotechnology) | | | 156 | | | | 5,458 | |
| Ashland, Inc. (Chemicals) | | | 103 | | | | 11,255 | |
| AutoNation, Inc.* (Specialty Retail) | | | 47 | | | | 5,956 | |
| Avis Budget Group, Inc.* (Road & Rail) | | | 77 | | | | 15,403 | |
| Axon Enterprise, Inc.* (Aerospace & Defense) | | | 209 | | | | 40,847 | |
| Bank of Hawaii Corp. (Banks) | | | 64 | | | | 4,895 | |
| Belden, Inc. (Electronic Equipment, Instruments & Components) | | | 132 | | | | 10,704 | |
| BellRing Brands, Inc.* (Personal Products) | | | 172 | | | | 4,878 | |
| BJ's Wholesale Club Holdings, Inc.* (Food & Staples Retailing) | | | 238 | | | | 17,248 | |
| Black Hills Corp. (Multi-Utilities) | | | 104 | | | | 7,528 | |
| Blackbaud, Inc.* (Software) | | | 64 | | | | 3,981 | |
| Boyd Gaming Corp. (Hotels, Restaurants & Leisure) | | | 143 | | | | 8,910 | |
| Brixmor Property Group, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 456 | | | | 10,730 | |
| Bruker Corp. (Life Sciences Tools & Services) | | | 183 | | | | 12,832 | |
| Brunswick Corp. (Leisure Products) | | | 132 | | | | 11,131 | |
| Builders FirstSource, Inc.* (Building Products) | | | 453 | | | | 36,104 | |
| Cabot Corp. (Chemicals) | | | 175 | | | | 13,183 | |
| CACI International, Inc.*—Class A (Professional Services) | | | 44 | | | | 13,556 | |
| Calix, Inc.* (Communications Equipment) | | | 177 | | | | 9,317 | |
| Carlisle Cos., Inc. (Building Products) | | | 159 | | | | 39,887 | |
| Casey's General Stores, Inc. (Food & Staples Retailing) | | | 116 | | | | 27,366 | |
| Cathay General Bancorp (Banks) | | | 118 | | | | 5,187 | |
| Celsius Holdings, Inc.* (Beverages) | | | 123 | | | | 12,340 | |
| ChampionX Corp. (Energy Equipment & Services) | | | 617 | | | | 20,373 | |
| Chart Industries, Inc.* (Machinery) | | | 58 | | | | 7,771 | |
| Chemed Corp. (Health Care Providers & Services) | | | 32 | | | | 16,164 | |
| Choice Hotels International, Inc. (Hotels, Restaurants & Leisure) | | | 48 | | | | 5,899 | |
| Churchill Downs, Inc. (Hotels, Restaurants & Leisure) | | | 102 | | | | 25,306 | |
| Cirrus Logic, Inc.* (Semiconductors & Semiconductor Equipment) | | | 171 | | | | 15,457 | |
| Clean Harbors, Inc.* (Commercial Services & Supplies) | | | 155 | | | | 20,196 | |
| CNX Resources Corp.* (Oil, Gas & Consumable Fuels) | | | 556 | | | | 9,302 | |
| Cognex Corp. (Electronic Equipment, Instruments & Components) | | | 280 | | | | 15,327 | |
| Commerce Bancshares, Inc. (Banks) | | | 239 | | | | 15,908 | |
| Commercial Metals Co. (Metals & Mining) | | | 202 | | | | 10,963 | |
| CommVault Systems, Inc.* (Software) | | | 93 | | | | 5,787 | |
| Concentrix Corp. (IT Services) | | | 131 | | | | 18,577 | |
| Corporate Office Properties Trust (Equity Real Estate Investment Trusts (REITs)) | | | 181 | | | | 5,081 | |
| Crane Holdings Co. (Machinery) | | | 74 | | | | 8,577 | |
| Crocs, Inc.* (Textiles, Apparel & Luxury Goods) | | | 192 | | | | 23,380 | |
| CubeSmart (Equity Real Estate Investment Trusts (REITs)) | | | 372 | | | | 17,034 | |
| Cullen/Frost Bankers, Inc. (Banks) | | | 132 | | | | 17,198 | |
| Curtiss-Wright Corp. (Aerospace & Defense) | | | 120 | | | | 19,896 | |
| Darling Ingredients, Inc.* (Food Products) | | | 496 | | | | 32,880 | |
| Deckers Outdoor Corp.* (Textiles, Apparel & Luxury Goods) | | | 82 | | | | 35,053 | |
| Dick's Sporting Goods, Inc. (Specialty Retail) | | | 86 | | | | 11,245 | |
| Donaldson Co., Inc. (Machinery) | | | 242 | | | | 15,089 | |
| DT Midstream, Inc. (Oil, Gas & Consumable Fuels) | | | 299 | | | | 16,343 | |
| Dycom Industries, Inc.* (Construction & Engineering) | | | 63 | | | | 6,008 | |
| Dynatrace, Inc.* (Software) | | | 622 | | | | 23,903 | |
| Eagle Materials, Inc. (Construction Materials) | | | 114 | | | | 16,653 | |
| East West Bancorp, Inc. (Banks) | | | 221 | | | | 17,354 | |
| EastGroup Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 74 | | | | 12,451 | |
| EMCOR Group, Inc. (Construction & Engineering) | | | 146 | | | | 21,645 | |
| Encompass Health Corp. (Health Care Providers & Services) | | | 141 | | | | 8,805 | |
| Envestnet, Inc.* (Software) | | | 84 | | | | 5,460 | |
| Equitrans Midstream Corp. (Oil, Gas & Consumable Fuels) | | | 613 | | | | 4,444 | |
| Essential Utilities, Inc. (Water Utilities) | | | 738 | | | | 34,487 | |
| Euronet Worldwide, Inc.* (IT Services) | | | 73 | | | | 8,226 | |
| Evercore, Inc. (Capital Markets) | | | 56 | | | | 7,269 | |
| Exelixis, Inc.* (Biotechnology) | | | 1,000 | | | | 17,620 | |
| ExlService Holdings, Inc.* (IT Services) | | | 103 | | | | 17,572 | |
| Fair Isaac Corp.* (Software) | | | 77 | | | | 51,278 | |
| Federated Hermes, Inc.—Class B (Capital Markets) | | | 179 | | | | 7,035 | |
| First Financial Bankshares, Inc. (Banks) | | | 212 | | | | 7,551 | |
| First Horizon Corp. (Banks) | | | 1,095 | | | | 27,080 | |
| First Industrial Realty Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 209 | | | | 11,150 | |
| FirstCash Holdings, Inc. (Consumer Finance) | | | 116 | | | | 10,693 | |
| Five Below, Inc.* (Specialty Retail) | | | 120 | | | | 23,656 | |
| Flowers Foods, Inc. (Food Products) | | | 375 | | | | 10,384 | |
| Fox Factory Holding Corp.* (Auto Components) | | | 131 | | | | 15,470 | |
| FTI Consulting, Inc.* (Professional Services) | | | 106 | | | | 16,909 | |
| Fulton Financial Corp. (Banks) | | | 254 | | | | 4,249 | |
| GATX Corp. (Trading Companies & Distributors) | | | 57 | | | | 6,524 | |
| Genpact, Ltd. (IT Services) | | | 297 | | | | 14,042 | |
| Gentex Corp. (Auto Components) | | | 334 | | | | 9,856 | |
| Glacier Bancorp, Inc. (Banks) | | | 186 | | | | 8,480 | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Mid-Cap Growth ProFund :: 83
Common Stocks, continued
| | | Shares | | | Value | |
| Globus Medical, Inc.* (Health Care Equipment & Supplies) | | | 239 | | | $ | 18,045 | |
| Graco, Inc. (Machinery) | | | 337 | | | | 23,024 | |
| Grand Canyon Education, Inc.* (Diversified Consumer Services) | | | 95 | | | | 11,073 | |
| H&R Block, Inc. (Diversified Consumer Services) | | | 480 | | | | 18,710 | |
| Haemonetics Corp.* (Health Care Equipment & Supplies) | | | 156 | | | | 13,198 | |
| Halozyme Therapeutics, Inc.* (Biotechnology) | | | 419 | | | | 21,692 | |
| Hancock Whitney Corp. (Banks) | | | 130 | | | | 6,692 | |
| Harley-Davidson, Inc. (Automobiles) | | | 257 | | | | 11,830 | |
| HealthEquity, Inc.* (Health Care Providers & Services) | | | 260 | | | | 15,821 | |
| HF Sinclair Corp. (Oil, Gas & Consumable Fuels) | | | 184 | | | | 10,470 | |
| Hubbell, Inc. (Electrical Equipment) | | | 166 | | | | 37,999 | |
| IAA, Inc.* (Commercial Services & Supplies) | | | 264 | | | | 11,017 | |
| IDACORP, Inc. (Electric Utilities) | | | 83 | | | | 8,782 | |
| Inari Medical, Inc.* (Health Care Equipment & Supplies) | | | 147 | | | | 8,386 | |
| Ingevity Corp.* (Chemicals) | | | 109 | | | | 8,986 | |
| Insperity, Inc. (Professional Services) | | | 111 | | | | 12,271 | |
| Interactive Brokers Group, Inc. (Capital Markets) | | | 178 | | | | 14,229 | |
| International Bancshares Corp. (Banks) | | | 100 | | | | 4,687 | |
| Iridium Communications, Inc.* (Diversified Telecommunication Services) | | | 390 | | | | 23,338 | |
| ITT, Inc. (Machinery) | | | 118 | | | | 10,808 | |
| Jazz Pharmaceuticals PLC* (Pharmaceuticals) | | | 195 | | | | 30,549 | |
| Jefferies Financial Group, Inc. (Diversified Financial Services) | | | 565 | | | | 22,193 | |
| KBR, Inc. (Professional Services) | | | 425 | | | | 21,773 | |
| Kinsale Capital Group, Inc. (Insurance) | | | 67 | | | | 18,656 | |
| Knight-Swift Transportation Holdings, Inc. (Road & Rail) | | | 250 | | | | 14,775 | |
| Lamar Advertising Co.—Class A (Equity Real Estate Investment Trusts (REITs)) | | | 150 | | | | 15,981 | |
| Lancaster Colony Corp. (Food Products) | | | 62 | | | | 11,898 | |
| Landstar System, Inc. (Road & Rail) | | | 112 | | | | 19,357 | |
| Lantheus Holdings, Inc.* (Health Care Equipment & Supplies) | | | 213 | | | | 12,248 | |
| Lattice Semiconductor Corp.* (Semiconductors & Semiconductor Equipment) | | | 423 | | | | 32,059 | |
| Lennox International, Inc. (Building Products) | | | 62 | | | | 16,158 | |
| LHC Group, Inc.* (Health Care Providers & Services) | | | 96 | | | | 15,226 | |
| Life Storage, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 161 | | | | 17,393 | |
| Light & Wonder, Inc.* (Hotels, Restaurants & Leisure) | | | 132 | | | | 8,613 | |
| Lincoln Electric Holdings, Inc. (Machinery) | | | 178 | | | | 29,703 | |
| Littelfuse, Inc. (Electronic Equipment, Instruments & Components) | | | 45 | | | | 11,551 | |
| Louisiana-Pacific Corp. (Paper & Forest Products) | | | 220 | | | | 14,980 | |
| MACOM Technology Solutions Holdings, Inc.* (Semiconductors & Semiconductor Equipment) | | | 157 | | | | 10,522 | |
| Manhattan Associates, Inc.* (Software) | | | 112 | | | | 14,600 | |
| Masimo Corp.* (Health Care Equipment & Supplies) | | | 95 | | | | 16,158 | |
| Matador Resources Co. (Oil, Gas & Consumable Fuels) | | | 347 | | | | 22,958 | |
| Medpace Holdings, Inc.* (Life Sciences Tools & Services) | | | 78 | | | | 17,243 | |
| Mercury Systems, Inc.* (Aerospace & Defense) | | | 105 | | | | 5,248 | |
| MP Materials Corp.* (Metals & Mining) | | | 286 | | | | 9,298 | |
| MSA Safety, Inc. (Commercial Services & Supplies) | | | 63 | | | | 8,593 | |
| MSC Industrial Direct Co., Inc. (Trading Companies & Distributors) | | | 73 | | | | 6,037 | |
| Murphy Oil Corp. (Oil, Gas & Consumable Fuels) | | | 451 | | | | 19,668 | |
| Murphy USA, Inc. (Specialty Retail) | | | 65 | | | | 17,682 | |
| National Fuel Gas Co. (Gas Utilities) | | | 198 | | | | 11,496 | |
| National Instruments Corp. (Electronic Equipment, Instruments & Components) | | | 233 | | | | 12,582 | |
| National Retail Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 292 | | | | 13,826 | |
| National Storage Affiliates Trust (Equity Real Estate Investment Trusts (REITs)) | | | 122 | | | | 4,978 | |
| Neurocrine Biosciences, Inc.* (Biotechnology) | | | 297 | | | | 32,946 | |
| New Jersey Resources Corp. (Gas Utilities) | | | 194 | | | | 9,684 | |
| NewMarket Corp. (Chemicals) | | | 11 | | | | 3,790 | |
| Nexstar Media Group, Inc. (Media) | | | 117 | | | | 23,958 | |
| NOV, Inc. (Energy Equipment & Services) | | | 1,214 | | | | 29,671 | |
| Novanta, Inc.* (Electronic Equipment, Instruments & Components) | | | 111 | | | | 17,923 | |
| nVent Electric PLC (Electrical Equipment) | | | 517 | | | | 20,551 | |
| OGE Energy Corp. (Electric Utilities) | | | 619 | | | | 24,339 | |
| Olin Corp. (Chemicals) | | | 394 | | | | 25,448 | |
| Ollie's Bargain Outlet Holdings, Inc.* (Multiline Retail) | | | 89 | | | | 4,874 | |
| Omega Healthcare Investors, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 354 | | | | 10,422 | |
| ONE Gas, Inc. (Gas Utilities) | | | 169 | | | | 13,918 | |
| Option Care Health, Inc.* (Health Care Providers & Services) | | | 478 | | | | 13,800 | |
| Ormat Technologies, Inc. (Independent Power and Renewable Electricity Producers) | | | 90 | | | | 8,330 | |
| Owens Corning (Building Products) | | | 155 | | | | 14,981 | |
| Papa John's International, Inc. (Hotels, Restaurants & Leisure) | | | 44 | | | | 3,946 | |
| Paylocity Holding Corp.* (Software) | | | 126 | | | | 26,245 | |
| PBF Energy, Inc.—Class A (Oil, Gas & Consumable Fuels) | | | 353 | | | | 14,822 | |
| PDC Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 283 | | | | 19,168 | |
| Penumbra, Inc.* (Health Care Equipment & Supplies) | | | 74 | | | | 18,530 | |
| Performance Food Group Co.* (Food & Staples Retailing) | | | 217 | | | | 13,306 | |
| PNM Resources, Inc. (Electric Utilities) | | | 165 | | | | 8,164 | |
| Polaris, Inc. (Leisure Products) | | | 88 | | | | 10,106 | |
| PotlatchDeltic Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 141 | | | | 6,902 | |
| Power Integrations, Inc. (Semiconductors & Semiconductor Equipment) | | | 177 | | | | 15,238 | |
| Primerica, Inc. (Insurance) | | | 79 | | | | 12,778 | |
| Progyny, Inc.* (Health Care Providers & Services) | | | 86 | | | | 2,958 | |
| Qualys, Inc.* (Software) | | | 106 | | | | 12,228 | |
| QuidelOrtho Corp.* (Health Care Equipment & Supplies) | | | 92 | | | | 7,876 | |
See accompanying notes to the financial statements.
84 :: Mid-Cap Growth ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Range Resources Corp. (Oil, Gas & Consumable Fuels) | | | 746 | | | $ | 18,665 | |
| Rayonier, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 250 | | | | 9,098 | |
| Reliance Steel & Aluminum Co. (Metals & Mining) | | | 182 | | | | 41,396 | |
| RenaissanceRe Holdings, Ltd. (Insurance) | | | 77 | | | | 15,068 | |
| Repligen Corp.* (Life Sciences Tools & Services) | | | 159 | | | | 29,463 | |
| Rexford Industrial Realty, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 323 | | | | 20,500 | |
| RLI Corp. (Insurance) | | | 123 | | | | 16,291 | |
| Royal Gold, Inc. (Metals & Mining) | | | 202 | | | | 25,660 | |
| RPM International, Inc. (Chemicals) | | | 398 | | | | 35,784 | |
| Saia, Inc.* (Road & Rail) | | | 45 | | | | 12,275 | |
| Science Applications International Corp. (Professional Services) | | | 115 | | | | 11,935 | |
| SEI Investments Co. (Capital Markets) | | | 316 | | | | 19,728 | |
| Selective Insurance Group, Inc. (Insurance) | | | 187 | | | | 17,765 | |
| Service Corp. International (Diversified Consumer Services) | | | 474 | | | | 35,148 | |
| Shockwave Medical, Inc.* (Health Care Equipment & Supplies) | | | 112 | | | | 21,047 | |
| Silgan Holdings, Inc. (Containers & Packaging) | | | 257 | | | | 13,849 | |
| Silicon Laboratories, Inc.* (Semiconductors & Semiconductor Equipment) | | | 52 | | | | 8,159 | |
| Simpson Manufacturing Co., Inc. (Building Products) | | | 132 | | | | 14,139 | |
| SiTime Corp.* (Semiconductors & Semiconductor Equipment) | | | 26 | | | | 2,996 | |
| SLM Corp. (Consumer Finance) | | | 774 | | | | 13,599 | |
| Sonoco Products Co. (Containers & Packaging) | | | 152 | | | | 9,289 | |
| Southwestern Energy Co.* (Oil, Gas & Consumable Fuels) | | | 3,410 | | | | 18,823 | |
| Spire, Inc. (Gas Utilities) | | | 80 | | | | 5,778 | |
| Sprouts Farmers Market, Inc.* (Food & Staples Retailing) | | | 176 | | | | 5,623 | |
| STAAR Surgical Co.* (Health Care Equipment & Supplies) | | | 102 | | | | 7,196 | |
| STORE Capital Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 394 | | | | 12,691 | |
| SunPower Corp.* (Semiconductors & Semiconductor Equipment) | | | 149 | | | | 2,597 | |
| Super Micro Computer, Inc.* (Technology Hardware, Storage & Peripherals) | | | 114 | | | | 8,246 | |
| Tandem Diabetes Care, Inc.* (Health Care Equipment & Supplies) | | | 120 | | | | 4,889 | |
| Tempur Sealy International, Inc. (Household Durables) | | | 528 | | | | 21,516 | |
| Teradata Corp.* (Software) | | | 144 | | | | 5,023 | |
| Tetra Tech, Inc. (Commercial Services & Supplies) | | | 94 | | | | 14,618 | |
| Texas Roadhouse, Inc. (Hotels, Restaurants & Leisure) | | | 205 | | | | 20,588 | |
| The Boston Beer Co., Inc.*—Class A (Beverages) | | | 20 | | | | 7,772 | |
| The Brink's Co. (Commercial Services & Supplies) | | | 68 | | | | 4,461 | |
| The Chemours Co. (Chemicals) | | | 265 | | | | 9,643 | |
| The Hanover Insurance Group, Inc. (Insurance) | | | 65 | | | | 8,748 | |
| The Middleby Corp.* (Machinery) | | | 80 | | | | 12,436 | |
| The New York Times Co.—Class A (Media) | | | 255 | | | | 8,884 | |
| The Timken Co. (Machinery) | | | 101 | | | | 8,317 | |
| The Toro Co. (Machinery) | | | 322 | | | | 35,909 | |
| The Wendy's Co. (Hotels, Restaurants & Leisure) | | | 527 | | | | 11,752 | |
| TopBuild Corp.* (Household Durables) | | | 51 | | | | 10,203 | |
| Trex Co., Inc.* (Building Products) | | | 181 | | | | 9,542 | |
| United Bankshares, Inc. (Banks) | | | 200 | | | | 8,040 | |
| United Therapeutics Corp.* (Biotechnology) | | | 139 | | | | 36,581 | |
| Universal Display Corp. (Semiconductors & Semiconductor Equipment) | | | 85 | | | | 11,265 | |
| Valmont Industries, Inc. (Construction & Engineering) | | | 66 | | | | 21,762 | |
| Valvoline, Inc. (Chemicals) | | | 252 | | | | 9,238 | |
| Vicor Corp.* (Electrical Equipment) | | | 29 | | | | 2,013 | |
| Visteon Corp.* (Auto Components) | | | 87 | | | | 13,602 | |
| Washington Federal, Inc. (Banks) | | | 109 | | | | 3,865 | |
| Watsco, Inc. (Trading Companies & Distributors) | | | 103 | | | | 29,599 | |
| Watts Water Technologies, Inc.—Class A (Machinery) | | | 43 | | | | 7,031 | |
| Westlake Corp. (Chemicals) | | | 106 | | | | 13,012 | |
| WEX, Inc.* (IT Services) | | | 134 | | | | 24,786 | |
| Williams-Sonoma, Inc. (Specialty Retail) | | | 100 | | | | 13,494 | |
| Wingstop, Inc. (Hotels, Restaurants & Leisure) | | | 93 | | | | 14,738 | |
| Wolfspeed, Inc.* (Semiconductors & Semiconductor Equipment) | | | 174 | | | | 13,400 | |
| World Wrestling Entertainment, Inc.—Class A (Entertainment) | | | 133 | | | | 11,254 | |
| Worthington Industries, Inc. (Metals & Mining) | | | 45 | | | | 2,559 | |
| Wyndham Hotels & Resorts, Inc. (Hotels, Restaurants & Leisure) | | | 141 | | | | 10,929 | |
| YETI Holdings, Inc.* (Leisure Products) | | | 146 | | | | 6,535 | |
TOTAL COMMON STOCKS
(Cost $2,486,578) | | | | | | | 3,443,539 | |
Repurchase Agreements(a) (0.4%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.20%–4.22%, dated 1/31/23, due 2/1/23, total to be received $13,002 | | $ | 13,000 | | | $ | 13,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $13,000) | | | | | | | 13,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $2,499,578)—99.8% | | | | | | | 3,456,539 | |
| Net other assets (liabilities)—0.2% | | | | | | | 7,362 | |
| NET ASSETS—100.0% | | | | | | $ | 3,463,901 | |
| * | 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 the 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.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Mid-Cap Growth ProFund :: 85
Mid-Cap Growth ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 65,991 | | | | 1.9 | % |
| Auto Components | | | 38,928 | | | | 1.1 | % |
| Automobiles | | | 11,830 | | | | 0.3 | % |
| Banks | | | 131,185 | | | | 3.8 | % |
| Beverages | | | 20,112 | | | | 0.6 | % |
| Biotechnology | | | 114,297 | | | | 3.3 | % |
| Building Products | | | 130,811 | | | | 3.8 | % |
| Capital Markets | | | 61,562 | | | | 1.8 | % |
| Chemicals | | | 130,339 | | | | 3.8 | % |
| Commercial Services & Supplies | | | 58,885 | | | | 1.7 | % |
| Communications Equipment | | | 9,317 | | | | 0.3 | % |
| Construction & Engineering | | | 69,662 | | | | 2.0 | % |
| Construction Materials | | | 16,653 | | | | 0.5 | % |
| Consumer Finance | | | 24,292 | | | | 0.7 | % |
| Containers & Packaging | | | 34,124 | | | | 1.0 | % |
| Diversified Consumer Services | | | 64,931 | | | | 1.9 | % |
| Diversified Financial Services | | | 22,193 | | | | 0.6 | % |
| Diversified Telecommunication Services | | | 23,338 | | | | 0.7 | % |
| Electric Utilities | | | 41,286 | | | | 1.2 | % |
| Electrical Equipment | | | 69,612 | | | | 2.0 | % |
| Electronic Equipment, Instruments & Components | | | 68,087 | | | | 2.0 | % |
| Energy Equipment & Services | | | 50,043 | | | | 1.4 | % |
| Entertainment | | | 11,254 | | | | 0.3 | % |
| Equity Real Estate Investment Trusts (REITs) | | | 168,237 | | | | 4.9 | % |
| Food & Staples Retailing | | | 63,543 | | | | 1.8 | % |
| Food Products | | | 55,162 | | | | 1.6 | % |
| Gas Utilities | | | 40,877 | | | | 1.2 | % |
| Health Care Equipment & Supplies | | | 127,573 | | | | 3.7 | % |
| Health Care Providers & Services | | | 86,301 | | | | 2.5 | % |
| Hotels, Restaurants & Leisure | | | 110,681 | | | | 3.2 | % |
| Household Durables | | | 31,719 | | | | 0.9 | % |
| Independent Power and Renewable Electricity Producers | | | 8,329 | | | | 0.2 | % |
| Insurance | | | 103,422 | | | | 3.0 | % |
| IT Services | | | 83,203 | | | | 2.4 | % |
| Leisure Products | | | 27,772 | | | | 0.8 | % |
| Life Sciences Tools & Services | | | 59,538 | | | | 1.7 | % |
| Machinery | | | 172,478 | | | | 5.0 | % |
| Media | | | 32,842 | | | | 0.9 | % |
| Metals & Mining | | | 89,876 | | | | 2.6 | % |
| Mortgage Real Estate Investment Trusts (REITs) | | | 33,961 | | | | 1.0 | % |
| Multiline Retail | | | 4,874 | | | | 0.1 | % |
| Multi-Utilities | | | 7,528 | | | | 0.2 | % |
| Oil, Gas & Consumable Fuels | | | 190,624 | | | | 5.5 | % |
| Paper & Forest Products | | | 14,980 | | | | 0.4 | % |
| Personal Products | | | 4,878 | | | | 0.1 | % |
| Pharmaceuticals | | | 30,549 | | | | 0.9 | % |
| Professional Services | | | 76,444 | | | | 2.2 | % |
| Road & Rail | | | 61,810 | | | | 1.8 | % |
| Semiconductors & Semiconductor Equipment | | | 123,741 | | | | 3.6 | % |
| Software | | | 148,506 | | | | 4.3 | % |
| Specialty Retail | | | 72,033 | | | | 2.1 | % |
| Technology Hardware, Storage & Peripherals | | | 8,246 | | | | 0.2 | % |
| Textiles, Apparel & Luxury Goods | | | 58,433 | | | | 1.7 | % |
| Trading Companies & Distributors | | | 42,160 | | | | 1.2 | % |
| Water Utilities | | | 34,487 | | | | 1.0 | % |
| Other** | | | 20,362 | | | | 0.6 | % |
| Total | | $ | 3,463,901 | | | | 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.
86 :: Mid-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks (79.8%)
| | | Shares | | | Value | |
| Acadia Healthcare Co., Inc.* (Health Care Providers & Services) | | | 433 | | | $ | 36,381 | |
| ACI Worldwide, Inc.* (Software) | | | 535 | | | | 14,943 | |
| Acuity Brands, Inc. (Electrical Equipment) | | | 155 | | | | 29,221 | |
| Adient PLC* (Auto Components) | | | 454 | | | | 20,439 | |
| AECOM (Construction & Engineering) | | | 666 | | | | 58,122 | |
| Affiliated Managers Group, Inc. (Capital Markets) | | | 180 | | | | 31,093 | |
| AGCO Corp. (Machinery) | | | 296 | | | | 40,886 | |
| Alcoa Corp. (Metals & Mining) | | | 845 | | | | 44,143 | |
| Allegro MicroSystems, Inc.* (Semiconductors & Semiconductor Equipment) | | | 310 | | | | 11,833 | |
| ALLETE, Inc. (Electric Utilities) | | | 275 | | | | 17,012 | |
| Amedisys, Inc.* (Health Care Providers & Services) | | | 155 | | | | 14,982 | |
| American Financial Group, Inc. (Insurance) | | | 335 | | | | 47,768 | |
| Amkor Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 479 | | | | 14,016 | |
| Annaly Capital Management, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 2,236 | | | | 52,479 | |
| Antero Midstream Corp. (Oil, Gas & Consumable Fuels) | | | 1,598 | | | | 17,418 | |
| Antero Resources Corp.* (Oil, Gas & Consumable Fuels) | | | 1,321 | | | | 38,098 | |
| Apartment Income REIT Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 715 | | | | 27,356 | |
| AptarGroup, Inc. (Containers & Packaging) | | | 314 | | | | 36,311 | |
| Arrow Electronics, Inc.* (Electronic Equipment, Instruments & Components) | | | 292 | | | | 34,307 | |
| Arrowhead Pharmaceuticals, Inc.* (Biotechnology) | | | 507 | | | | 17,740 | |
| ASGN, Inc.* (Professional Services) | | | 240 | | | | 21,828 | |
| Ashland, Inc. (Chemicals) | | | 240 | | | | 26,225 | |
| Aspen Technology, Inc.* (Software) | | | 137 | | | | 27,229 | |
| Associated Banc-Corp. (Banks) | | | 718 | | | | 16,090 | |
| AutoNation, Inc.* (Specialty Retail) | | | 162 | | | | 20,529 | |
| Avient Corp. (Chemicals) | | | 408 | | | | 16,532 | |
| Avis Budget Group, Inc.* (Road & Rail) | | | 120 | | | | 24,005 | |
| Avnet, Inc. (Electronic Equipment, Instruments & Components) | | | 437 | | | | 20,050 | |
| Axon Enterprise, Inc.* (Aerospace & Defense) | | | 324 | | | | 63,323 | |
| Azenta, Inc.* (Life Sciences Tools & Services) | | | 359 | | | | 20,068 | |
| Bank of Hawaii Corp. (Banks) | | | 190 | | | | 14,533 | |
| Bank OZK (Banks) | | | 528 | | | | 24,114 | |
| Belden, Inc. (Electronic Equipment, Instruments & Components) | | | 204 | | | | 16,542 | |
| BellRing Brands, Inc.* (Personal Products) | | | 648 | | | | 18,377 | |
| BJ's Wholesale Club Holdings, Inc.* (Food & Staples Retailing) | | | 645 | | | | 46,742 | |
| Black Hills Corp. (Multi-Utilities) | | | 310 | | | | 22,438 | |
| Blackbaud, Inc.* (Software) | | | 215 | | | | 13,375 | |
| Boyd Gaming Corp. (Hotels, Restaurants & Leisure) | | | 380 | | | | 23,678 | |
| Brighthouse Financial, Inc.* (Insurance) | | | 331 | | | | 18,625 | |
| Brixmor Property Group, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,433 | | | | 33,718 | |
| Bruker Corp. (Life Sciences Tools & Services) | | | 479 | | | | 33,587 | |
| Brunswick Corp. (Leisure Products) | | | 345 | | | | 29,094 | |
| Builders FirstSource, Inc.* (Building Products) | | | 705 | | | | 56,189 | |
| Cable One, Inc. (Media) | | | 25 | | | | 19,747 | |
| Cabot Corp. (Chemicals) | | | 268 | | | | 20,188 | |
| CACI International, Inc.*—Class A (Professional Services) | | | 113 | | | | 34,814 | |
| Cadence Bank (Banks) | | | 873 | | | | 22,331 | |
| Calix, Inc.* (Communications Equipment) | | | 271 | | | | 14,265 | |
| Capri Holdings, Ltd.* (Textiles, Apparel & Luxury Goods) | | | 616 | | | | 40,958 | |
| Carlisle Cos., Inc. (Building Products) | | | 247 | | | | 61,962 | |
| Carter's, Inc. (Textiles, Apparel & Luxury Goods) | | | 183 | | | | 15,257 | |
| Casey's General Stores, Inc. (Food & Staples Retailing) | | | 180 | | | | 42,464 | |
| Cathay General Bancorp (Banks) | | | 356 | | | | 15,650 | |
| Celsius Holdings, Inc.* (Beverages) | | | 194 | | | | 19,463 | |
| ChampionX Corp. (Energy Equipment & Services) | | | 951 | | | | 31,402 | |
| Chart Industries, Inc.* (Machinery) | | | 201 | | | | 26,930 | |
| Chemed Corp. (Health Care Providers & Services) | | | 70 | | | | 35,360 | |
| Choice Hotels International, Inc. (Hotels, Restaurants & Leisure) | | | 134 | | | | 16,467 | |
| Churchill Downs, Inc. (Hotels, Restaurants & Leisure) | | | 159 | | | | 39,448 | |
| Ciena Corp.* (Communications Equipment) | | | 708 | | | | 36,831 | |
| Cirrus Logic, Inc.* (Semiconductors & Semiconductor Equipment) | | | 264 | | | | 23,863 | |
| Clean Harbors, Inc.* (Commercial Services & Supplies) | | | 240 | | | | 31,272 | |
| Cleveland-Cliffs, Inc.* (Metals & Mining) | | | 2,461 | | | | 52,542 | |
| CNO Financial Group, Inc. (Insurance) | | | 545 | | | | 14,039 | |
| CNX Resources Corp.* (Oil, Gas & Consumable Fuels) | | | 862 | | | | 14,421 | |
| Coca-Cola Consolidated, Inc. (Beverages) | | | 21 | | | | 10,642 | |
| Cognex Corp. (Electronic Equipment, Instruments & Components) | | | 828 | | | | 45,325 | |
| Coherent Corp.* (Electronic Equipment, Instruments & Components) | | | 662 | | | | 28,731 | |
| Columbia Sportswear Co. (Textiles, Apparel & Luxury Goods) | | | 169 | | | | 16,207 | |
| Commerce Bancshares, Inc. (Banks) | | | 546 | | | | 36,342 | |
| Commercial Metals Co. (Metals & Mining) | | | 560 | | | | 30,391 | |
| CommVault Systems, Inc.* (Software) | | | 211 | | | | 13,131 | |
| Concentrix Corp. (IT Services) | | | 201 | | | | 28,504 | |
| Corporate Office Properties Trust (Equity Real Estate Investment Trusts (REITs)) | | | 539 | | | | 15,130 | |
| Coty, Inc.*—Class A (Personal Products) | | | 1,746 | | | | 17,390 | |
| Cousins Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 722 | | | | 19,797 | |
| Cracker Barrel Old Country Store, Inc. (Hotels, Restaurants & Leisure) | | | 106 | | | | 11,827 | |
| Crane Holdings Co. (Machinery) | | | 229 | | | | 26,543 | |
| Crocs, Inc.* (Textiles, Apparel & Luxury Goods) | | | 296 | | | | 36,044 | |
| CubeSmart (Equity Real Estate Investment Trusts (REITs)) | | | 1,074 | | | | 49,178 | |
| Cullen/Frost Bankers, Inc. (Banks) | | | 306 | | | | 39,866 | |
| Curtiss-Wright Corp. (Aerospace & Defense) | | | 183 | | | | 30,341 | |
| Dana, Inc. (Auto Components) | | | 608 | | | | 11,029 | |
| Darling Ingredients, Inc.* (Food Products) | | | 764 | | | | 50,646 | |
| Deckers Outdoor Corp.* (Textiles, Apparel & Luxury Goods) | | | 127 | | | | 54,290 | |
| Dick's Sporting Goods, Inc. (Specialty Retail) | | | 264 | | | | 34,521 | |
| Donaldson Co., Inc. (Machinery) | | | 585 | | | | 36,475 | |
| Douglas Emmett, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 837 | | | | 14,020 | |
| DT Midstream, Inc. (Oil, Gas & Consumable Fuels) | | | 461 | | | | 25,198 | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Mid-Cap ProFund :: 87
Common Stocks, continued
| | | Shares | | | Value | |
| Dycom Industries, Inc.* (Construction & Engineering) | | | 141 | | | $ | 13,447 | |
| Dynatrace, Inc.* (Software) | | | 962 | | | | 36,970 | |
| Eagle Materials, Inc. (Construction Materials) | | | 176 | | | | 25,710 | |
| East West Bancorp, Inc. (Banks) | | | 673 | | | | 52,843 | |
| EastGroup Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 208 | | | | 34,996 | |
| EMCOR Group, Inc. (Construction & Engineering) | | | 229 | | | | 33,949 | |
| Encompass Health Corp. (Health Care Providers & Services) | | | 476 | | | | 29,726 | |
| Energizer Holdings, Inc. (Household Products) | | | 317 | | | | 11,761 | |
| EnerSys (Electrical Equipment) | | | 194 | | | | 16,106 | |
| Enovis Corp.* (Health Care Equipment & Supplies) | | | 229 | | | | 14,416 | |
| Envestnet, Inc.* (Software) | | | 264 | | | | 17,160 | |
| Envista Holdings Corp.* (Health Care Equipment & Supplies) | | | 778 | | | | 30,334 | |
| EPR Properties (Equity Real Estate Investment Trusts (REITs)) | | | 359 | | | | 15,250 | |
| Equitrans Midstream Corp. (Oil, Gas & Consumable Fuels) | | | 2,067 | | | | 14,986 | |
| Esab Corp. (Machinery) | | | 247 | | | | 14,279 | |
| Essent Group, Ltd. (Thrifts & Mortgage Finance) | | | 514 | | | | 22,631 | |
| Essential Utilities, Inc. (Water Utilities) | | | 1,141 | | | | 53,319 | |
| Euronet Worldwide, Inc.* (IT Services) | | | 225 | | | | 25,353 | |
| Evercore, Inc. (Capital Markets) | | | 169 | | | | 21,938 | |
| Exelixis, Inc.* (Biotechnology) | | | 1,542 | | | | 27,170 | |
| ExlService Holdings, Inc.* (IT Services) | | | 159 | | | | 27,125 | |
| F.N.B. Corp. (Banks) | | | 1,676 | | | | 23,917 | |
| Fair Isaac Corp.* (Software) | | | 120 | | | | 79,913 | |
| Federated Hermes, Inc.—Class B (Capital Markets) | | | 405 | | | | 15,917 | |
| First American Financial Corp. (Insurance) | | | 493 | | | | 30,502 | |
| First Financial Bankshares, Inc. (Banks) | | | 620 | | | | 22,084 | |
| First Horizon Corp. (Banks) | | | 2,564 | | | | 63,407 | |
| First Industrial Realty Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 631 | | | | 33,664 | |
| FirstCash Holdings, Inc. (Consumer Finance) | | | 180 | | | | 16,592 | |
| Five Below, Inc.* (Specialty Retail) | | | 264 | | | | 52,041 | |
| Flowers Foods, Inc. (Food Products) | | | 919 | | | | 25,447 | |
| Flowserve Corp. (Machinery) | | | 623 | | | | 21,444 | |
| Fluor Corp.* (Construction & Engineering) | | | 680 | | | | 24,990 | |
| Foot Locker, Inc. (Specialty Retail) | | | 380 | | | | 16,534 | |
| Fortune Brands Innovations, Inc. (Building Products) | | | 613 | | | | 39,545 | |
| Fox Factory Holding Corp.* (Auto Components) | | | 201 | | | | 23,736 | |
| Frontier Communications Parent, Inc.* (Diversified Telecommunication Services) | | | 1,063 | | | | 31,475 | |
| FTI Consulting, Inc.* (Professional Services) | | | 166 | | | | 26,480 | |
| Fulton Financial Corp. (Banks) | | | 799 | | | | 13,367 | |
| GameStop Corp.*(a)—Class A (Specialty Retail) | | | 1,207 | | | | 26,397 | |
| GATX Corp. (Trading Companies & Distributors) | | | 169 | | | | 19,342 | |
| Genpact, Ltd. (IT Services) | | | 807 | | | | 38,155 | |
| Gentex Corp. (Auto Components) | | | 1,120 | | | | 33,051 | |
| Glacier Bancorp, Inc. (Banks) | | | 528 | | | | 24,072 | |
| Globus Medical, Inc.* (Health Care Equipment & Supplies) | | | 370 | | | | 27,935 | |
| Graco, Inc. (Machinery) | | | 807 | | | | 55,134 | |
| Graham Holdings Co.—Class B (Diversified Consumer Services) | | | 18 | | | | 11,760 | |
| Grand Canyon Education, Inc.* (Diversified Consumer Services) | | | 148 | | | | 17,251 | |
| Greif, Inc.—Class A (Containers & Packaging) | | | 123 | | | | 8,786 | |
| Grocery Outlet Holding Corp.* (Food & Staples Retailing) | | | 422 | | | | 12,825 | |
| GXO Logistics, Inc.* (Air Freight & Logistics) | | | 567 | | | | 29,671 | |
| H&R Block, Inc. (Diversified Consumer Services) | | | 743 | | | | 28,962 | |
| Haemonetics Corp.* (Health Care Equipment & Supplies) | | | 243 | | | | 20,558 | |
| Halozyme Therapeutics, Inc.* (Biotechnology) | | | 645 | | | | 33,392 | |
| Hancock Whitney Corp. (Banks) | | | 409 | | | | 21,055 | |
| Hanesbrands, Inc. (Textiles, Apparel & Luxury Goods) | | | 1,665 | | | | 14,053 | |
| Harley-Davidson, Inc. (Automobiles) | | | 634 | | | | 29,183 | |
| Hawaiian Electric Industries, Inc. (Electric Utilities) | | | 525 | | | | 22,192 | |
| Healthcare Realty Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,817 | | | | 39,120 | |
| HealthEquity, Inc.* (Health Care Providers & Services) | | | 405 | | | | 24,644 | |
| Helen of Troy, Ltd.* (Household Durables) | | | 116 | | | | 13,121 | |
| Hexcel Corp. (Aerospace & Defense) | | | 402 | | | | 28,373 | |
| HF Sinclair Corp. (Oil, Gas & Consumable Fuels) | | | 641 | | | | 36,473 | |
| Highwoods Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 503 | | | | 15,276 | |
| Home BancShares, Inc. (Banks) | | | 905 | | | | 21,602 | |
| Hubbell, Inc. (Electrical Equipment) | | | 257 | | | | 58,829 | |
| IAA, Inc.* (Commercial Services & Supplies) | | | 637 | | | | 26,582 | |
| ICU Medical, Inc.* (Health Care Equipment & Supplies) | | | 95 | | | | 18,357 | |
| IDACORP, Inc. (Electric Utilities) | | | 243 | | | | 25,712 | |
| Inari Medical, Inc.* (Health Care Equipment & Supplies) | | | 233 | | | | 13,293 | |
| Independence Realty Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,070 | | | | 20,148 | |
| Ingevity Corp.* (Chemicals) | | | 169 | | | | 13,932 | |
| Ingredion, Inc. (Food Products) | | | 314 | | | | 32,279 | |
| Insperity, Inc. (Professional Services) | | | 169 | | | | 18,683 | |
| Integra LifeSciences Holdings Corp.* (Health Care Equipment & Supplies) | | | 349 | | | | 19,998 | |
| Interactive Brokers Group, Inc. (Capital Markets) | | | 493 | | | | 39,410 | |
| International Bancshares Corp. (Banks) | | | 254 | | | | 11,905 | |
| IPG Photonics Corp. (Electronic Equipment, Instruments & Components) | | | 155 | | | | 17,376 | |
| Iridium Communications, Inc.* (Diversified Telecommunication Services) | | | 599 | | | | 35,845 | |
| ITT, Inc. (Machinery) | | | 395 | | | | 36,178 | |
| Jabil, Inc. (Electronic Equipment, Instruments & Components) | | | 645 | | | | 50,716 | |
| Janus Henderson Group PLC (Capital Markets) | | | 634 | | | | 16,433 | |
| Jazz Pharmaceuticals PLC* (Pharmaceuticals) | | | 299 | | | | 46,842 | |
| JBG Smith Properties (Equity Real Estate Investment Trusts (REITs)) | | | 471 | | | | 9,486 | |
| Jefferies Financial Group, Inc. (Diversified Financial Services) | | | 877 | | | | 34,449 | |
| JetBlue Airways Corp.* (Airlines) | | | 1,545 | | | | 12,360 | |
| John Wiley & Sons, Inc.—Class A (Media) | | | 204 | | | | 9,343 | |
| Jones Lang LaSalle, Inc.* (Real Estate Management & Development) | | | 225 | | | | 41,596 | |
| KB Home (Household Durables) | | | 398 | | | | 15,303 | |
| KBR, Inc. (Professional Services) | | | 655 | | | | 33,556 | |
| Kemper Corp. (Insurance) | | | 306 | | | | 17,971 | |
See accompanying notes to the financial statements.
88 :: Mid-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Kennametal, Inc. (Machinery) | | | 383 | | | $ | 10,916 | |
| Kilroy Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 504 | | | | 20,684 | |
| Kinsale Capital Group, Inc. (Insurance) | | | 102 | | | | 28,401 | |
| Kirby Corp.* (Marine) | | | 285 | | | | 20,172 | |
| Kite Realty Group Trust (Equity Real Estate Investment Trusts (REITs)) | | | 1,046 | | | | 22,698 | |
| Knight-Swift Transportation Holdings, Inc. (Road & Rail) | | | 768 | | | | 45,388 | |
| Kohl's Corp. (Multiline Retail) | | | 556 | | | | 17,998 | |
| Kyndryl Holdings, Inc.* (IT Services) | | | 975 | | | | 13,055 | |
| Lamar Advertising Co.—Class A (Equity Real Estate Investment Trusts (REITs)) | | | 416 | | | | 44,321 | |
| Lancaster Colony Corp. (Food Products) | | | 95 | | | | 18,231 | |
| Landstar System, Inc. (Road & Rail) | | | 173 | | | | 29,900 | |
| Lantheus Holdings, Inc.* (Health Care Equipment & Supplies) | | | 328 | | | | 18,860 | |
| Lattice Semiconductor Corp.* (Semiconductors & Semiconductor Equipment) | | | 655 | | | | 49,641 | |
| Lear Corp. (Auto Components) | | | 282 | | | | 41,110 | |
| Leggett & Platt, Inc. (Household Durables) | | | 634 | | | | 23,179 | |
| Lennox International, Inc. (Building Products) | | | 155 | | | | 40,396 | |
| LHC Group, Inc.* (Health Care Providers & Services) | | | 148 | | | | 23,473 | |
| Life Storage, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 405 | | | | 43,756 | |
| Light & Wonder, Inc.* (Hotels, Restaurants & Leisure) | | | 447 | | | | 29,167 | |
| Lincoln Electric Holdings, Inc. (Machinery) | | | 275 | | | | 45,889 | |
| Lithia Motors, Inc. (Specialty Retail) | | | 130 | | | | 34,216 | |
| Littelfuse, Inc. (Electronic Equipment, Instruments & Components) | | | 120 | | | | 30,803 | |
| LivaNova PLC* (Health Care Equipment & Supplies) | | | 257 | | | | 14,443 | |
| Louisiana-Pacific Corp. (Paper & Forest Products) | | | 342 | | | | 23,287 | |
| Lumentum Holdings, Inc.* (Communications Equipment) | | | 328 | | | | 19,739 | |
| MACOM Technology Solutions Holdings, Inc.* (Semiconductors & Semiconductor Equipment) | | | 243 | | | | 16,286 | |
| Macy's, Inc. (Multiline Retail) | | | 1,296 | | | | 30,624 | |
| Manhattan Associates, Inc.* (Software) | | | 299 | | | | 38,978 | |
| ManpowerGroup, Inc. (Professional Services) | | | 243 | | | | 21,180 | |
| Marriott Vacations Worldwide Corp. (Hotels, Restaurants & Leisure) | | | 183 | | | | 29,287 | |
| Masimo Corp.* (Health Care Equipment & Supplies) | | | 233 | | | | 39,628 | |
| MasTec, Inc.* (Construction & Engineering) | | | 282 | | | | 27,701 | |
| Matador Resources Co. (Oil, Gas & Consumable Fuels) | | | 535 | | | | 35,396 | |
| Mattel, Inc.* (Leisure Products) | | | 1,694 | | | | 34,659 | |
| Maximus, Inc. (IT Services) | | | 289 | | | | 21,632 | |
| MDU Resources Group, Inc. (Construction & Engineering) | | | 972 | | | | 30,045 | |
| Medical Properties Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 2,856 | | | | 36,985 | |
| Medpace Holdings, Inc.* (Life Sciences Tools & Services) | | | 120 | | | | 26,528 | |
| Mercury Systems, Inc.* (Aerospace & Defense) | | | 278 | | | | 13,896 | |
| MGIC Investment Corp. (Thrifts & Mortgage Finance) | | | 1,419 | | | | 20,036 | |
| MKS Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 275 | | | | 28,138 | |
| MP Materials Corp.* (Metals & Mining) | | | 440 | | | | 14,304 | |
| MSA Safety, Inc. (Commercial Services & Supplies) | | | 176 | | | | 24,005 | |
| MSC Industrial Direct Co., Inc. (Trading Companies & Distributors) | | | 225 | | | | 18,608 | |
| Murphy Oil Corp. (Oil, Gas & Consumable Fuels) | | | 697 | | | | 30,396 | |
| Murphy USA, Inc. (Specialty Retail) | | | 99 | | | | 26,931 | |
| National Fuel Gas Co. (Gas Utilities) | | | 437 | | | | 25,372 | |
| National Instruments Corp. (Electronic Equipment, Instruments & Components) | | | 623 | | | | 33,642 | |
| National Retail Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 852 | | | | 40,342 | |
| National Storage Affiliates Trust (Equity Real Estate Investment Trusts (REITs)) | | | 405 | | | | 16,524 | |
| Navient Corp. (Consumer Finance) | | | 506 | | | | 9,599 | |
| NCR Corp.* (Technology Hardware, Storage & Peripherals) | | | 655 | | | | 17,960 | |
| Neogen Corp.* (Health Care Equipment & Supplies) | | | 1,031 | | | | 22,074 | |
| Neurocrine Biosciences, Inc.* (Biotechnology) | | | 458 | | | | 50,806 | |
| New Jersey Resources Corp. (Gas Utilities) | | | 461 | | | | 23,013 | |
| New York Community Bancorp, Inc. (Thrifts & Mortgage Finance) | | | 3,251 | | | | 32,478 | |
| NewMarket Corp. (Chemicals) | | | 32 | | | | 11,024 | |
| Nexstar Media Group, Inc. (Media) | | | 180 | | | | 36,859 | |
| Nordstrom, Inc. (Multiline Retail) | | | 531 | | | | 10,376 | |
| NorthWestern Corp. (Multi-Utilities) | | | 275 | | | | 15,620 | |
| NOV, Inc. (Energy Equipment & Services) | | | 1,877 | | | | 45,874 | |
| Novanta, Inc.* (Electronic Equipment, Instruments & Components) | | | 169 | | | | 27,288 | |
| nVent Electric PLC (Electrical Equipment) | | | 796 | | | | 31,641 | |
| OGE Energy Corp. (Electric Utilities) | | | 958 | | | | 37,668 | |
| Old National Bancorp (Banks) | | | 1,398 | | | | 24,465 | |
| Old Republic International Corp. (Insurance) | | | 1,352 | | | | 35,679 | |
| Olin Corp. (Chemicals) | | | 609 | | | | 39,335 | |
| Ollie's Bargain Outlet Holdings, Inc.* (Multiline Retail) | | | 278 | | | | 15,223 | |
| Omega Healthcare Investors, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,120 | | | | 32,973 | |
| Omnicell, Inc.* (Health Care Equipment & Supplies) | | | 215 | | | | 11,926 | |
| ONE Gas, Inc. (Gas Utilities) | | | 257 | | | | 21,167 | |
| Option Care Health, Inc.* (Health Care Providers & Services) | | | 739 | | | | 21,335 | |
| Ormat Technologies, Inc. (Independent Power and Renewable Electricity Producers) | | | 233 | | | | 21,564 | |
| Oshkosh Corp. (Machinery) | | | 314 | | | | 31,645 | |
| Owens Corning (Building Products) | | | 447 | | | | 43,203 | |
| PacWest Bancorp (Banks) | | | 563 | | | | 15,573 | |
| Papa John's International, Inc. (Hotels, Restaurants & Leisure) | | | 155 | | | | 13,902 | |
| Park Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,073 | | | | 15,784 | |
| Patterson Cos., Inc. (Health Care Providers & Services) | | | 415 | | | | 12,529 | |
| Paylocity Holding Corp.* (Software) | | | 197 | | | | 41,032 | |
| PBF Energy, Inc.—Class A (Oil, Gas & Consumable Fuels) | | | 546 | | | | 22,927 | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Mid-Cap ProFund :: 89
Common Stocks, continued
| | | Shares | | | Value | |
| PDC Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 440 | | | $ | 29,801 | |
| Pebblebrook Hotel Trust (Equity Real Estate Investment Trusts (REITs)) | | | 626 | | | | 10,266 | |
| Penn Entertainment, Inc.* (Hotels, Restaurants & Leisure) | | | 739 | | | | 26,198 | |
| Penumbra, Inc.* (Health Care Equipment & Supplies) | | | 183 | | | | 45,824 | |
| Performance Food Group Co.* (Food & Staples Retailing) | | | 743 | | | | 45,561 | |
| Perrigo Co. PLC (Pharmaceuticals) | | | 644 | | | | 24,098 | |
| Physicians Realty Trust (Equity Real Estate Investment Trusts (REITs)) | | | 1,091 | | | | 17,303 | |
| Pilgrim's Pride Corp.* (Food Products) | | | 214 | | | | 5,196 | |
| Pinnacle Financial Partners, Inc. (Banks) | | | 366 | | | | 28,815 | |
| PNM Resources, Inc. (Electric Utilities) | | | 409 | | | | 20,237 | |
| Polaris, Inc. (Leisure Products) | | | 261 | | | | 29,973 | |
| Portland General Electric Co. (Electric Utilities) | | | 426 | | | | 20,269 | |
| Post Holdings, Inc.* (Food Products) | | | 261 | | | | 24,782 | |
| PotlatchDeltic Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 387 | | | | 18,944 | |
| Power Integrations, Inc. (Semiconductors & Semiconductor Equipment) | | | 275 | | | | 23,675 | |
| Primerica, Inc. (Insurance) | | | 176 | | | | 28,468 | |
| Progyny, Inc.* (Health Care Providers & Services) | | | 359 | | | | 12,346 | |
| Prosperity Bancshares, Inc. (Banks) | | | 437 | | | | 33,151 | |
| PVH Corp. (Textiles, Apparel & Luxury Goods) | | | 310 | | | | 27,869 | |
| Qualys, Inc.* (Software) | | | 166 | | | | 19,150 | |
| QuidelOrtho Corp.* (Health Care Equipment & Supplies) | | | 257 | | | | 22,002 | |
| R1 RCM, Inc.* (Health Care Providers & Services) | | | 654 | | | | 9,359 | |
| Range Resources Corp. (Oil, Gas & Consumable Fuels) | | | 1,155 | | | | 28,898 | |
| Rayonier, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 701 | | | | 25,509 | |
| Regal Rexnord Corp. (Electrical Equipment) | | | 317 | | | | 44,126 | |
| Reinsurance Group of America, Inc. (Insurance) | | | 321 | | | | 48,719 | |
| Reliance Steel & Aluminum Co. (Metals & Mining) | | | 282 | | | | 64,142 | |
| RenaissanceRe Holdings, Ltd. (Insurance) | | | 208 | | | | 40,704 | |
| Repligen Corp.* (Life Sciences Tools & Services) | | | 247 | | | | 45,770 | |
| Rexford Industrial Realty, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 877 | | | | 55,664 | |
| RH* (Specialty Retail) | | | 92 | | | | 28,703 | |
| RLI Corp. (Insurance) | | | 194 | | | | 25,695 | |
| Royal Gold, Inc. (Metals & Mining) | | | 314 | | | | 39,887 | |
| RPM International, Inc. (Chemicals) | | | 616 | | | | 55,384 | |
| Ryder System, Inc. (Road & Rail) | | | 240 | | | | 22,658 | |
| Sabra Health Care REIT, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,102 | | | | 14,877 | |
| Saia, Inc.* (Road & Rail) | | | 127 | | | | 34,643 | |
| Science Applications International Corp. (Professional Services) | | | 264 | | | | 27,398 | |
| SEI Investments Co. (Capital Markets) | | | 490 | | | | 30,591 | |
| Selective Insurance Group, Inc. (Insurance) | | | 289 | | | | 27,455 | |
| Sensient Technologies Corp. (Chemicals) | | | 201 | | | | 15,214 | |
| Service Corp. International (Diversified Consumer Services) | | | 736 | | | | 54,574 | |
| Shockwave Medical, Inc.* (Health Care Equipment & Supplies) | | | 173 | | | | 32,512 | |
| Silgan Holdings, Inc. (Containers & Packaging) | | | 402 | | | | 21,664 | |
| Silicon Laboratories, Inc.* (Semiconductors & Semiconductor Equipment) | | | 159 | | | | 24,949 | |
| Simpson Manufacturing Co., Inc. (Building Products) | | | 204 | | | | 21,850 | |
| SiTime Corp.* (Semiconductors & Semiconductor Equipment) | | | 78 | | | | 8,988 | |
| Skechers U.S.A., Inc.*—Class A (Textiles, Apparel & Luxury Goods) | | | 641 | | | | 30,864 | |
| SL Green Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 306 | | | | 12,592 | |
| SLM Corp. (Consumer Finance) | | | 1,193 | | | | 20,961 | |
| Sonoco Products Co. (Containers & Packaging) | | | 465 | | | | 28,416 | |
| Sotera Health Co.* (Life Sciences Tools & Services) | | | 471 | | | | 8,120 | |
| Southwest Gas Holdings, Inc. (Gas Utilities) | | | 296 | | | | 19,811 | |
| Southwestern Energy Co.* (Oil, Gas & Consumable Fuels) | | | 5,272 | | | | 29,101 | |
| Spire, Inc. (Gas Utilities) | | | 250 | | | | 18,055 | |
| Spirit Realty Capital, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 666 | | | | 29,224 | |
| Sprouts Farmers Market, Inc.* (Food & Staples Retailing) | | | 507 | | | | 16,199 | |
| STAAR Surgical Co.* (Health Care Equipment & Supplies) | | | 229 | | | | 16,156 | |
| Stericycle, Inc.* (Commercial Services & Supplies) | | | 440 | | | | 23,676 | |
| Stifel Financial Corp. (Capital Markets) | | | 507 | | | | 34,177 | |
| STORE Capital Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 1,271 | | | | 40,939 | |
| SunPower Corp.* (Semiconductors & Semiconductor Equipment) | | | 408 | | | | 7,111 | |
| Sunrun, Inc.* (Electrical Equipment) | | | 1,018 | | | | 26,753 | |
| Super Micro Computer, Inc.* (Technology Hardware, Storage & Peripherals) | | | 218 | | | | 15,768 | |
| Synaptics, Inc.* (Semiconductors & Semiconductor Equipment) | | | 190 | | | | 23,756 | |
| Syneos Health, Inc.* (Life Sciences Tools & Services) | | | 493 | | | | 17,709 | |
| Synovus Financial Corp. (Banks) | | | 694 | | | | 29,113 | |
| Tandem Diabetes Care, Inc.* (Health Care Equipment & Supplies) | | | 306 | | | | 12,466 | |
| Taylor Morrison Home Corp.* (Household Durables) | | | 518 | | | | 18,544 | |
| TD SYNNEX Corp. (Electronic Equipment, Instruments & Components) | | | 201 | | | | 20,532 | |
| TEGNA, Inc. (Media) | | | 1,067 | | | | 21,265 | |
| Tempur Sealy International, Inc. (Household Durables) | | | 817 | | | | 33,293 | |
| Tenet Healthcare Corp.* (Health Care Providers & Services) | | | 518 | | | | 28,412 | |
| Teradata Corp.* (Software) | | | 486 | | | | 16,952 | |
| Terex Corp. (Machinery) | | | 324 | | | | 16,514 | |
| Tetra Tech, Inc. (Commercial Services & Supplies) | | | 254 | | | | 39,502 | |
| Texas Capital Bancshares, Inc.* (Banks) | | | 240 | | | | 15,857 | |
| Texas Roadhouse, Inc. (Hotels, Restaurants & Leisure) | | | 321 | | | | 32,238 | |
| The Boston Beer Co., Inc.*—Class A (Beverages) | | | 46 | | | | 17,876 | |
| The Brink's Co. (Commercial Services & Supplies) | | | 222 | | | | 14,563 | |
| The Chemours Co. (Chemicals) | | | 722 | | | | 26,274 | |
See accompanying notes to the financial statements.
90 :: Mid-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| The Gap, Inc. (Specialty Retail) | | | 1,007 | | | $ | 13,665 | |
| The Goodyear Tire & Rubber Co.* (Auto Components) | | | 1,352 | | | | 15,210 | |
| The Hanover Insurance Group, Inc. (Insurance) | | | 169 | | | | 22,744 | |
| The Macerich Co. (Equity Real Estate Investment Trusts (REITs)) | | | 1,024 | | | | 14,070 | |
| The Middleby Corp.* (Machinery) | | | 257 | | | | 39,951 | |
| The New York Times Co.—Class A (Media) | | | 785 | | | | 27,349 | |
| The Scotts Miracle-Gro Co.(a) (Chemicals) | | | 194 | | | | 14,005 | |
| The Timken Co. (Machinery) | | | 317 | | | | 26,105 | |
| The Toro Co. (Machinery) | | | 497 | | | | 55,426 | |
| The Wendy's Co. (Hotels, Restaurants & Leisure) | | | 813 | | | | 18,130 | |
| The Western Union Co. (IT Services) | | | 1,845 | | | | 26,144 | |
| Thor Industries, Inc. (Automobiles) | | | 257 | | | | 24,500 | |
| Toll Brothers, Inc. (Household Durables) | | | 504 | | | | 29,983 | |
| TopBuild Corp.* (Household Durables) | | | 151 | | | | 30,209 | |
| Topgolf Callaway Brands Corp.* (Leisure Products) | | | 661 | | | | 16,188 | |
| Travel + Leisure Co. (Hotels, Restaurants & Leisure) | | | 387 | | | | 16,397 | |
| Trex Co., Inc.* (Building Products) | | | 525 | | | | 27,678 | |
| TripAdvisor, Inc.* (Interactive Media & Services) | | | 499 | | | | 11,627 | |
| UGI Corp. (Gas Utilities) | | | 1,000 | | | | 39,830 | |
| UMB Financial Corp. (Banks) | | | 208 | | | | 18,760 | |
| Umpqua Holdings Corp. (Banks) | | | 1,035 | | | | 18,837 | |
| Under Armour, Inc.*—Class A (Textiles, Apparel & Luxury Goods) | | | 901 | | | | 11,163 | |
| Under Armour, Inc.*—Class C (Textiles, Apparel & Luxury Goods) | | | 940 | | | | 10,246 | |
| United Bankshares, Inc. (Banks) | | | 645 | | | | 25,929 | |
| United States Steel Corp. (Metals & Mining) | | | 1,120 | | | | 31,909 | |
| United Therapeutics Corp.* (Biotechnology) | | | 218 | | | | 57,371 | |
| Univar Solutions, Inc.* (Trading Companies & Distributors) | | | 778 | | | | 26,825 | |
| Universal Display Corp. (Semiconductors & Semiconductor Equipment) | | | 208 | | | | 27,566 | |
| Unum Group (Insurance) | | | 895 | | | | 37,617 | |
| Valley National Bancorp (Banks) | | | 2,007 | | | | 23,843 | |
| Valmont Industries, Inc. (Construction & Engineering) | | | 102 | | | | 33,632 | |
| Valvoline, Inc. (Chemicals) | | | 845 | | | | 30,978 | |
| ViaSat, Inc.* (Communications Equipment) | | | 363 | | | | 12,505 | |
| Vicor Corp.* (Electrical Equipment) | | | 106 | | | | 7,360 | |
| Victoria's Secret & Co.* (Specialty Retail) | | | 387 | | | | 16,312 | |
| Vishay Intertechnology, Inc. (Electronic Equipment, Instruments & Components) | | | 619 | | | | 14,169 | |
| Visteon Corp.* (Auto Components) | | | 134 | | | | 20,950 | |
| Vontier Corp. (Electronic Equipment, Instruments & Components) | | | 753 | | | | 17,342 | |
| Vornado Realty Trust (Equity Real Estate Investment Trusts (REITs)) | | | 771 | | | | 18,805 | |
| Voya Financial, Inc.(a) (Diversified Financial Services) | | | 465 | | | | 32,443 | |
| Washington Federal, Inc. (Banks) | | | 313 | | | | 11,099 | |
| Watsco, Inc. (Trading Companies & Distributors) | | | 159 | | | | 45,692 | |
| Watts Water Technologies, Inc.—Class A (Machinery) | | | 130 | | | | 21,258 | |
| Webster Financial Corp. (Banks) | | | 831 | | | | 43,752 | |
| Werner Enterprises, Inc. (Road & Rail) | | | 282 | | | | 13,246 | |
| Westlake Corp. (Chemicals) | | | 166 | | | | 20,377 | |
| WEX, Inc.* (IT Services) | | | 208 | | | | 38,473 | |
| Williams-Sonoma, Inc. (Specialty Retail) | | | 321 | | | | 43,316 | |
| Wingstop, Inc. (Hotels, Restaurants & Leisure) | | | 144 | | | | 22,820 | |
| Wintrust Financial Corp. (Banks) | | | 289 | | | | 26,435 | |
| Wolfspeed, Inc.* (Semiconductors & Semiconductor Equipment) | | | 595 | | | | 45,821 | |
| Woodward, Inc. (Machinery) | | | 289 | | | | 29,553 | |
| World Wrestling Entertainment, Inc.—Class A (Entertainment) | | | 208 | | | | 17,601 | |
| Worthington Industries, Inc. (Metals & Mining) | | | 144 | | | | 8,189 | |
| Wyndham Hotels & Resorts, Inc. (Hotels, Restaurants & Leisure) | | | 423 | | | | 32,787 | |
| Xerox Holdings Corp. (Technology Hardware, Storage & Peripherals) | | | 534 | | | | 8,747 | |
| XPO, Inc.* (Air Freight & Logistics) | | | 549 | | | | 21,883 | |
| YETI Holdings, Inc.* (Leisure Products) | | | 412 | | | | 18,441 | |
| Ziff Davis, Inc.* (Interactive Media & Services) | | | 225 | | | | 20,133 | |
TOTAL COMMON STOCKS
(Cost $8,676,982) | | | | | | | 10,715,604 | |
Repurchase Agreements(b)(c) (20.1%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $2,702,316 | | $ | 2,702,000 | | | $ | 2,702,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $2,702,000) | | | | | | | 2,702,000 | |
Collateral for Securities Loaned(d) (0.5%)
| | | Shares | | | Value | |
| Invesco Government & Agency Portfolio—Institutional Shares, 4.32%(e) | | | 70,397 | | | $ | 70,397 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $70,397) | | | | | | | 70,397 | |
TOTAL INVESTMENT SECURITIES
(Cost $11,449,379)—100.4% | | | | | | | 13,488,001 | |
| Net other assets (liabilities)—(0.4)% | | | | | | | (50,970 | ) |
| NET ASSETS—100.0% | | | | | | $ | 13,437,031 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $71,216. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $219,000. |
| (d) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (e) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Mid-Cap ProFund :: 91
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 | | 2/27/23 | | | 4.83 | % | | $ | 946,826 | | | $ | 11,409 | |
| S&P MidCap 400 | | UBS AG | | 2/27/23 | | | 4.68 | % | | | 1,769,298 | | | | 21,321 | |
| | | | | | | | | | | $ | 2,716,124 | | | $ | 32,730 | |
| (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, 2023, 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). |
Mid-Cap ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 135,933 | | | | 1.0 | % |
| Air Freight & Logistics | | | 51,554 | | | | 0.4 | % |
| Airlines | | | 12,360 | | | | 0.1 | % |
| Auto Components | | | 165,525 | | | | 1.2 | % |
| Automobiles | | | 53,683 | | | | 0.4 | % |
| Banks | | | 738,808 | | | | 5.5 | % |
| Beverages | | | 47,981 | | | | 0.4 | % |
| Biotechnology | | | 186,479 | | | | 1.4 | % |
| Building Products | | | 290,823 | | | | 2.2 | % |
| Capital Markets | | | 189,559 | | | | 1.4 | % |
| Chemicals | | | 289,468 | | | | 2.2 | % |
| Commercial Services & Supplies | | | 159,600 | | | | 1.2 | % |
| Communications Equipment | | | 83,340 | | | | 0.6 | % |
| Construction & Engineering | | | 221,886 | | | | 1.6 | % |
| Construction Materials | | | 25,710 | | | | 0.2 | % |
| Consumer Finance | | | 47,152 | | | | 0.3 | % |
| Containers & Packaging | | | 95,177 | | | | 0.7 | % |
| Diversified Consumer Services | | | 112,547 | | | | 0.8 | % |
| Diversified Financial Services | | | 66,892 | | | | 0.5 | % |
| Diversified Telecommunication Services | | | 67,320 | | | | 0.5 | % |
| Electric Utilities | | | 143,090 | | | | 1.1 | % |
| Electrical Equipment | | | 214,036 | | | | 1.6 | % |
| Electronic Equipment, Instruments & Components | | | 356,822 | | | | 2.6 | % |
| Energy Equipment & Services | | | 77,276 | | | | 0.6 | % |
| Entertainment | | | 17,601 | | | | 0.1 | % |
| Equity Real Estate Investment Trusts (REITs) | | | 859,399 | | | | 6.4 | % |
| Food & Staples Retailing | | | 163,791 | | | | 1.2 | % |
| Food Products | | | 156,581 | | | | 1.2 | % |
| Gas Utilities | | | 147,248 | | | | 1.1 | % |
| Health Care Equipment & Supplies | | | 380,783 | | | | 2.8 | % |
| Health Care Providers & Services | | | 248,547 | | | | 1.8 | % |
| Hotels, Restaurants & Leisure | | | 312,346 | | | | 2.3 | % |
| Household Durables | | | 163,632 | | | | 1.2 | % |
| Household Products | | | 11,761 | | | | 0.1 | % |
| Independent Power and Renewable Electricity Producers | | | 21,564 | | | | 0.2 | % |
| Insurance | | | 424,387 | | | | 3.2 | % |
| Interactive Media & Services | | | 31,760 | | | | 0.2 | % |
| IT Services | | | 218,441 | | | | 1.6 | % |
| Leisure Products | | | 128,355 | | | | 1.0 | % |
| Life Sciences Tools & Services | | | 151,782 | | | | 1.1 | % |
| Machinery | | | 535,125 | | | | 4.0 | % |
| Marine | | | 20,172 | | | | 0.1 | % |
| Media | | | 114,563 | | | | 0.9 | % |
| Metals & Mining | | | 285,507 | | | | 2.1 | % |
| Mortgage Real Estate Investment Trusts (REITs) | | | 52,479 | | | | 0.4 | % |
| Multiline Retail | | | 74,221 | | | | 0.6 | % |
| Multi-Utilities | | | 38,058 | | | | 0.3 | % |
| Oil, Gas & Consumable Fuels | | | 323,113 | | | | 2.4 | % |
| Paper & Forest Products | | | 23,287 | | | | 0.2 | % |
| Personal Products | | | 35,767 | | | | 0.3 | % |
| Pharmaceuticals | | | 70,940 | | | | 0.5 | % |
| Professional Services | | | 183,939 | | | | 1.4 | % |
| Real Estate Management & Development | | | 41,596 | | | | 0.3 | % |
| Road & Rail | | | 169,840 | | | | 1.3 | % |
| Semiconductors & Semiconductor Equipment | | | 305,643 | | | | 2.3 | % |
| Software | | | 318,833 | | | | 2.4 | % |
| Specialty Retail | | | 313,165 | | | | 2.3 | % |
| Technology Hardware, Storage & Peripherals | | | 42,475 | | | | 0.3 | % |
| Textiles, Apparel & Luxury Goods | | | 256,951 | | | | 1.9 | % |
| Thrifts & Mortgage Finance | | | 75,145 | | | | 0.6 | % |
| Trading Companies & Distributors | | | 110,467 | | | | 0.8 | % |
| Water Utilities | | | 53,319 | | | | 0.4 | % |
| Other** | | | 2,721,427 | | | | 20.2 | % |
| Total | | $ | 13,437,031 | | | | 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.
92 :: Mid-Cap Value ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks (100.1%)
| | | Shares | | | Value | |
| Acadia Healthcare Co., Inc.* (Health Care Providers & Services) | | | 437 | | | $ | 36,717 | |
| ACI Worldwide, Inc.* (Software) | | | 1,290 | | | | 36,030 | |
| Acuity Brands, Inc. (Electrical Equipment) | | | 188 | | | | 35,442 | |
| Adient PLC* (Auto Components) | | | 1,084 | | | | 48,802 | |
| AECOM (Construction & Engineering) | | | 734 | | | | 64,056 | |
| Affiliated Managers Group, Inc. (Capital Markets) | | | 148 | | | | 25,566 | |
| AGCO Corp. (Machinery) | | | 338 | | | | 46,688 | |
| Alcoa Corp. (Metals & Mining) | | | 2,022 | | | | 105,629 | |
| Allegro MicroSystems, Inc.* (Semiconductors & Semiconductor Equipment) | | | 449 | | | | 17,138 | |
| ALLETE, Inc. (Electric Utilities) | | | 649 | | | | 40,147 | |
| Amedisys, Inc.* (Health Care Providers & Services) | | | 369 | | | | 35,668 | |
| American Financial Group, Inc. (Insurance) | | | 437 | | | | 62,312 | |
| Apartment Income REIT Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 1,715 | | | | 65,616 | |
| AptarGroup, Inc. (Containers & Packaging) | | | 396 | | | | 45,793 | |
| Arrow Electronics, Inc.* (Electronic Equipment, Instruments & Components) | | | 701 | | | | 82,360 | |
| Arrowhead Pharmaceuticals, Inc.* (Biotechnology) | | | 632 | | | | 22,114 | |
| ASGN, Inc.* (Professional Services) | | | 568 | | | | 51,659 | |
| Ashland, Inc. (Chemicals) | | | 188 | | | | 20,543 | |
| Aspen Technology, Inc.* (Software) | | | 333 | | | | 66,184 | |
| Associated Banc-Corp. (Banks) | | | 1,724 | | | | 38,635 | |
| AutoNation, Inc.* (Specialty Retail) | | | 212 | | | | 26,865 | |
| Avient Corp. (Chemicals) | | | 976 | | | | 39,547 | |
| Avnet, Inc. (Electronic Equipment, Instruments & Components) | | | 1,047 | | | | 48,036 | |
| Azenta, Inc.* (Life Sciences Tools & Services) | | | 858 | | | | 47,963 | |
| Bank of Hawaii Corp. (Banks) | | | 220 | | | | 16,828 | |
| Bank OZK (Banks) | | | 1,268 | | | | 57,910 | |
| BellRing Brands, Inc.* (Personal Products) | | | 913 | | | | 25,893 | |
| BJ's Wholesale Club Holdings, Inc.* (Food & Staples Retailing) | | | 662 | | | | 47,975 | |
| Black Hills Corp. (Multi-Utilities) | | | 360 | | | | 26,057 | |
| Blackbaud, Inc.* (Software) | | | 271 | | | | 16,859 | |
| Boyd Gaming Corp. (Hotels, Restaurants & Leisure) | | | 372 | | | | 23,179 | |
| Brighthouse Financial, Inc.* (Insurance) | | | 786 | | | | 44,228 | |
| Brixmor Property Group, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,754 | | | | 41,272 | |
| Bruker Corp. (Life Sciences Tools & Services) | | | 469 | | | | 32,886 | |
| Brunswick Corp. (Leisure Products) | | | 338 | | | | 28,504 | |
| Cable One, Inc. (Media) | | | 54 | | | | 42,654 | |
| CACI International, Inc.*—Class A (Professional Services) | | | 97 | | | | 29,885 | |
| Cadence Bank (Banks) | | | 2,084 | | | | 53,309 | |
| Capri Holdings, Ltd.* (Textiles, Apparel & Luxury Goods) | | | 1,472 | | | | 97,873 | |
| Carter's, Inc. (Textiles, Apparel & Luxury Goods) | | | 437 | | | | 36,433 | |
| Cathay General Bancorp (Banks) | | | 422 | | | | 18,551 | |
| Chart Industries, Inc.* (Machinery) | | | 264 | | | | 35,371 | |
| Chemed Corp. (Health Care Providers & Services) | | | 54 | | | | 27,278 | |
| Choice Hotels International, Inc. (Hotels, Restaurants & Leisure) | | | 128 | | | | 15,730 | |
| Ciena Corp.* (Communications Equipment) | | | 1,690 | | | | 87,914 | |
| Cleveland-Cliffs, Inc.* (Metals & Mining) | | | 5,897 | | | | 125,902 | |
| CNO Financial Group, Inc. (Insurance) | | | 1,312 | | | | 33,797 | |
| Coca-Cola Consolidated, Inc. (Beverages) | | | 51 | | | | 25,846 | |
| Cognex Corp. (Electronic Equipment, Instruments & Components) | | | 946 | | | | 51,784 | |
| Coherent Corp.* (Electronic Equipment, Instruments & Components) | | | 1,588 | | | | 68,919 | |
| Columbia Sportswear Co. (Textiles, Apparel & Luxury Goods) | | | 411 | | | | 39,415 | |
| Commerce Bancshares, Inc. (Banks) | | | 424 | | | | 28,221 | |
| Commercial Metals Co. (Metals & Mining) | | | 590 | | | | 32,019 | |
| CommVault Systems, Inc.* (Software) | | | 171 | | | | 10,641 | |
| Corporate Office Properties Trust (Equity Real Estate Investment Trusts (REITs)) | | | 619 | | | | 17,375 | |
| Coty, Inc.*—Class A (Personal Products) | | | 4,179 | | | | 41,623 | |
| Cousins Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,733 | | | | 47,519 | |
| Cracker Barrel Old Country Store, Inc. (Hotels, Restaurants & Leisure) | | | 257 | | | | 28,676 | |
| Crane Holdings Co. (Machinery) | | | 271 | | | | 31,412 | |
| CubeSmart (Equity Real Estate Investment Trusts (REITs)) | | | 1,184 | | | | 54,215 | |
| Cullen/Frost Bankers, Inc. (Banks) | | | 240 | | | | 31,267 | |
| Dana, Inc. (Auto Components) | | | 1,463 | | | | 26,539 | |
| Dick's Sporting Goods, Inc. (Specialty Retail) | | | 321 | | | | 41,974 | |
| Donaldson Co., Inc. (Machinery) | | | 506 | | | | 31,549 | |
| Douglas Emmett, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 2,007 | | | | 33,617 | |
| Dycom Industries, Inc.* (Construction & Engineering) | | | 109 | | | | 10,395 | |
| East West Bancorp, Inc. (Banks) | | | 786 | | | | 61,717 | |
| EastGroup Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 220 | | | | 37,015 | |
| Encompass Health Corp. (Health Care Providers & Services) | | | 612 | | | | 38,219 | |
| Energizer Holdings, Inc. (Household Products) | | | 762 | | | | 28,270 | |
| EnerSys (Electrical Equipment) | | | 464 | | | | 38,521 | |
| Enovis Corp.* (Health Care Equipment & Supplies) | | | 546 | | | | 34,371 | |
| Envestnet, Inc.* (Software) | | | 327 | | | | 21,255 | |
| Envista Holdings Corp.* (Health Care Equipment & Supplies) | | | 1,868 | | | | 72,833 | |
| EPR Properties (Equity Real Estate Investment Trusts (REITs)) | | | 858 | | | | 36,448 | |
| Equitrans Midstream Corp. (Oil, Gas & Consumable Fuels) | | | 2,676 | | | | 19,401 | |
| Esab Corp. (Machinery) | | | 590 | | | | 34,108 | |
| Essent Group, Ltd. (Thrifts & Mortgage Finance) | | | 1,227 | | | | 54,025 | |
| Euronet Worldwide, Inc.* (IT Services) | | | 271 | | | | 30,536 | |
| Evercore, Inc. (Capital Markets) | | | 205 | | | | 26,611 | |
| F.N.B. Corp. (Banks) | | | 4,013 | | | | 57,266 | |
| Federated Hermes, Inc.—Class B (Capital Markets) | | | 298 | | | | 11,711 | |
| First American Financial Corp. (Insurance) | | | 1,188 | | | | 73,502 | |
| First Financial Bankshares, Inc. (Banks) | | | 694 | | | | 24,720 | |
| First Horizon Corp. (Banks) | | | 2,086 | | | | 51,587 | |
| First Industrial Realty Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 741 | | | | 39,532 | |
| Five Below, Inc.* (Specialty Retail) | | | 200 | | | | 39,426 | |
| Flowers Foods, Inc. (Food Products) | | | 811 | | | | 22,457 | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Mid-Cap Value ProFund :: 93
Common Stocks, continued
| | | Shares | | | Value | |
| Flowserve Corp. (Machinery) | | | 1,498 | | | $ | 51,561 | |
| Fluor Corp.* (Construction & Engineering) | | | 1,624 | | | | 59,682 | |
| Foot Locker, Inc. (Specialty Retail) | | | 911 | | | | 39,638 | |
| Fortune Brands Innovations, Inc. (Building Products) | | | 1,465 | | | | 94,508 | |
| Frontier Communications Parent, Inc.* (Diversified Telecommunication Services) | | | 2,550 | | | | 75,506 | |
| Fulton Financial Corp. (Banks) | | | 979 | | | | 16,379 | |
| GameStop Corp.*(a)—Class A (Specialty Retail) | | | 2,894 | | | | 63,292 | |
| GATX Corp. (Trading Companies & Distributors) | | | 194 | | | | 22,203 | |
| Genpact, Ltd. (IT Services) | | | 828 | | | | 39,148 | |
| Gentex Corp. (Auto Components) | | | 1,445 | | | | 42,642 | |
| Glacier Bancorp, Inc. (Banks) | | | 583 | | | | 26,579 | |
| Graco, Inc. (Machinery) | | | 673 | | | | 45,979 | |
| Graham Holdings Co.—Class B (Diversified Consumer Services) | | | 45 | | | | 29,399 | |
| Greif, Inc.—Class A (Containers & Packaging) | | | 295 | | | | 21,072 | |
| Grocery Outlet Holding Corp.* (Food & Staples Retailing) | | | 1,016 | | | | 30,876 | |
| GXO Logistics, Inc.* (Air Freight & Logistics) | | | 1,357 | | �� | | 71,012 | |
| Hancock Whitney Corp. (Banks) | | | 505 | | | | 25,997 | |
| Hanesbrands, Inc. (Textiles, Apparel & Luxury Goods) | | | 3,990 | | | | 33,676 | |
| Harley-Davidson, Inc. (Automobiles) | | | 563 | | | | 25,915 | |
| Hawaiian Electric Industries, Inc. (Electric Utilities) | | | 1,253 | | | | 52,964 | |
| Healthcare Realty Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 4,356 | | | | 93,785 | |
| Helen of Troy, Ltd.* (Household Durables) | | | 271 | | | | 30,653 | |
| Hexcel Corp. (Aerospace & Defense) | | | 961 | | | | 67,827 | |
| HF Sinclair Corp. (Oil, Gas & Consumable Fuels) | | | 860 | | | | 48,934 | |
| Highwoods Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,199 | | | | 36,414 | |
| Home BancShares, Inc. (Banks) | | | 2,172 | | | | 51,846 | |
| IAA, Inc.* (Commercial Services & Supplies) | | | 547 | | | | 22,826 | |
| ICU Medical, Inc.* (Health Care Equipment & Supplies) | | | 233 | | | | 45,023 | |
| IDACORP, Inc. (Electric Utilities) | | | 271 | | | | 28,675 | |
| Independence Realty Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 2,561 | | | | 48,224 | |
| Ingredion, Inc. (Food Products) | | | 751 | | | | 77,202 | |
| Integra LifeSciences Holdings Corp.* (Health Care Equipment & Supplies) | | | 826 | | | | 47,330 | |
| Interactive Brokers Group, Inc. (Capital Markets) | | | 521 | | | | 41,649 | |
| International Bancshares Corp. (Banks) | | | 236 | | | | 11,061 | |
| IPG Photonics Corp. (Electronic Equipment, Instruments & Components) | | | 366 | | | | 41,029 | |
| ITT, Inc. (Machinery) | | | 509 | | | | 46,619 | |
| Jabil, Inc. (Electronic Equipment, Instruments & Components) | | | 1,541 | | | | 121,169 | |
| Janus Henderson Group PLC (Capital Markets) | | | 1,519 | | | | 39,372 | |
| JBG Smith Properties (Equity Real Estate Investment Trusts (REITs)) | | | 1,132 | | | | 22,798 | |
| JetBlue Airways Corp.* (Airlines) | | | 3,699 | | | | 29,592 | |
| John Wiley & Sons, Inc.—Class A (Media) | | | 486 | | | | 22,259 | |
| Jones Lang LaSalle, Inc.* (Real Estate Management & Development) | | | 544 | | | | 100,569 | |
| KB Home (Household Durables) | | | 948 | | | | 36,451 | |
| Kemper Corp. (Insurance) | | | 730 | | | | 42,873 | |
| Kennametal, Inc. (Machinery) | | | 920 | | | | 26,220 | |
| Kilroy Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 1,201 | | | | 49,289 | |
| Kirby Corp.* (Marine) | | | 689 | | | | 48,767 | |
| Kite Realty Group Trust (Equity Real Estate Investment Trusts (REITs)) | | | 2,507 | | | | 54,402 | |
| Knight-Swift Transportation Holdings, Inc. (Road & Rail) | | | 920 | | | | 54,371 | |
| Kohl's Corp. (Multiline Retail) | | | 1,329 | | | | 43,020 | |
| Kyndryl Holdings, Inc.* (IT Services) | | | 2,331 | | | | 31,212 | |
| Lamar Advertising Co.—Class A (Equity Real Estate Investment Trusts (REITs)) | | | 437 | | | | 46,558 | |
| Lear Corp. (Auto Components) | | | 673 | | | | 98,109 | |
| Leggett & Platt, Inc. (Household Durables) | | | 1,515 | | | | 55,388 | |
| Lennox International, Inc. (Building Products) | | | 141 | | | | 36,747 | |
| Life Storage, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 381 | | | | 41,163 | |
| Light & Wonder, Inc.* (Hotels, Restaurants & Leisure) | | | 579 | | | | 37,780 | |
| Lithia Motors, Inc. (Specialty Retail) | | | 314 | | | | 82,644 | |
| Littelfuse, Inc. (Electronic Equipment, Instruments & Components) | | | 109 | | | | 27,979 | |
| LivaNova PLC* (Health Care Equipment & Supplies) | | | 610 | | | | 34,282 | |
| Lumentum Holdings, Inc.* (Communications Equipment) | | | 776 | | | | 46,700 | |
| Macy's, Inc. (Multiline Retail) | | | 3,102 | | | | 73,299 | |
| Manhattan Associates, Inc.* (Software) | | | 302 | | | | 39,369 | |
| ManpowerGroup, Inc. (Professional Services) | | | 579 | | | | 50,466 | |
| Marriott Vacations Worldwide Corp. (Hotels, Restaurants & Leisure) | | | 437 | | | | 69,938 | |
| Masimo Corp.* (Health Care Equipment & Supplies) | | | 205 | | | | 34,866 | |
| MasTec, Inc.* (Construction & Engineering) | | | 673 | | | | 66,109 | |
| Mattel, Inc.* (Leisure Products) | | | 4,053 | | | | 82,923 | |
| Maximus, Inc. (IT Services) | | | 689 | | | | 51,572 | |
| MDU Resources Group, Inc. (Construction & Engineering) | | | 2,329 | | | | 71,990 | |
| Medical Properties Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 6,843 | | | | 88,617 | |
| Mercury Systems, Inc.* (Aerospace & Defense) | | | 276 | | | | 13,796 | |
| MGIC Investment Corp. (Thrifts & Mortgage Finance) | | | 3,403 | | | | 48,050 | |
| MKS Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 649 | | | | 66,405 | |
| MSA Safety, Inc. (Commercial Services & Supplies) | | | 191 | | | | 26,050 | |
| MSC Industrial Direct Co., Inc. (Trading Companies & Distributors) | | | 265 | | | | 21,916 | |
| National Fuel Gas Co. (Gas Utilities) | | | 314 | | | | 18,231 | |
| National Instruments Corp. (Electronic Equipment, Instruments & Components) | | | 629 | | | | 33,966 | |
| National Retail Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 956 | | | | 45,267 | |
| National Storage Affiliates Trust (Equity Real Estate Investment Trusts (REITs)) | | | 510 | | | | 20,808 | |
| Navient Corp. (Consumer Finance) | | | 1,206 | | | | 22,878 | |
| NCR Corp.* (Technology Hardware, Storage & Peripherals) | | | 1,574 | | | | 43,159 | |
| Neogen Corp.* (Health Care Equipment & Supplies) | | | 2,472 | | | | 52,926 | |
| New Jersey Resources Corp. (Gas Utilities) | | | 387 | | | | 19,319 | |
See accompanying notes to the financial statements.
94 :: Mid-Cap Value ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| New York Community Bancorp, Inc. (Thrifts & Mortgage Finance) | | | 7,780 | | | $ | 77,722 | |
| NewMarket Corp. (Chemicals) | | | 39 | | | | 13,436 | |
| Nordstrom, Inc. (Multiline Retail) | | | 1,275 | | | | 24,914 | |
| NorthWestern Corp. (Multi-Utilities) | | | 662 | | | | 37,601 | |
| Old National Bancorp (Banks) | | | 3,352 | | | | 58,660 | |
| Old Republic International Corp. (Insurance) | | | 3,239 | | | | 85,477 | |
| Ollie's Bargain Outlet Holdings, Inc.* (Multiline Retail) | | | 338 | | | | 18,509 | |
| Omega Healthcare Investors, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,365 | | | | 40,186 | |
| Omnicell, Inc.* (Health Care Equipment & Supplies) | | | 509 | | | | 28,234 | |
| Ormat Technologies, Inc. (Independent Power and Renewable Electricity Producers) | | | 226 | | | | 20,916 | |
| Oshkosh Corp. (Machinery) | | | 751 | | | | 75,687 | |
| Owens Corning (Building Products) | | | 493 | | | | 47,648 | |
| PacWest Bancorp (Banks) | | | 1,343 | | | | 37,147 | |
| Papa John's International, Inc. (Hotels, Restaurants & Leisure) | | | 205 | | | | 18,386 | |
| Park Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 2,569 | | | | 37,790 | |
| Patterson Cos., Inc. (Health Care Providers & Services) | | | 993 | | | | 29,979 | |
| Pebblebrook Hotel Trust (Equity Real Estate Investment Trusts (REITs)) | | | 1,508 | | | | 24,731 | |
| Penn Entertainment, Inc.* (Hotels, Restaurants & Leisure) | | | 1,780 | | | | 63,101 | |
| Penumbra, Inc.* (Health Care Equipment & Supplies) | | | 165 | | | | 41,318 | |
| Performance Food Group Co.* (Food & Staples Retailing) | | | 977 | | | | 59,910 | |
| Perrigo Co. PLC (Pharmaceuticals) | | | 1,539 | | | | 57,589 | |
| Physicians Realty Trust (Equity Real Estate Investment Trusts (REITs)) | | | 2,617 | | | | 41,506 | |
| Pilgrim's Pride Corp.* (Food Products) | | | 517 | | | | 12,553 | |
| Pinnacle Financial Partners, Inc. (Banks) | | | 879 | | | | 69,204 | |
| PNM Resources, Inc. (Electric Utilities) | | | 372 | | | | 18,407 | |
| Polaris, Inc. (Leisure Products) | | | 302 | | | | 34,682 | |
| Portland General Electric Co. (Electric Utilities) | | | 1,021 | | | | 48,579 | |
| Post Holdings, Inc.* (Food Products) | | | 625 | | | | 59,343 | |
| PotlatchDeltic Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 397 | | | | 19,433 | |
| Primerica, Inc. (Insurance) | | | 128 | | | | 20,704 | |
| Progyny, Inc.* (Health Care Providers & Services) | | | 543 | | | | 18,674 | |
| Prosperity Bancshares, Inc. (Banks) | | | 1,047 | | | | 79,424 | |
| PVH Corp. (Textiles, Apparel & Luxury Goods) | | | 748 | | | | 67,245 | |
| QuidelOrtho Corp.* (Health Care Equipment & Supplies) | | | 271 | | | | 23,200 | |
| R1 RCM, Inc.* (Health Care Providers & Services) | | | 1,572 | | | | 22,495 | |
| Rayonier, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 755 | | | | 27,474 | |
| Regal Rexnord Corp. (Electrical Equipment) | | | 762 | | | | 106,071 | |
| Reinsurance Group of America, Inc. (Insurance) | | | 769 | | | | 116,712 | |
| RenaissanceRe Holdings, Ltd. (Insurance) | | | 218 | | | | 42,660 | |
| Rexford Industrial Realty, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 904 | | | | 57,377 | |
| RH* (Specialty Retail) | | | 218 | | | | 68,014 | |
| Ryder System, Inc. (Road & Rail) | | | 575 | | | | 54,286 | |
| Sabra Health Care REIT, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 2,643 | �� | | | 35,681 | |
| Saia, Inc.* (Road & Rail) | | | 128 | | | | 34,916 | |
| Science Applications International Corp. (Professional Services) | | | 207 | | | | 21,482 | |
| Sensient Technologies Corp. (Chemicals) | | | 487 | | | | 36,861 | |
| Silicon Laboratories, Inc.* (Semiconductors & Semiconductor Equipment) | | | 179 | | | | 28,087 | |
| SiTime Corp.* (Semiconductors & Semiconductor Equipment) | | | 79 | | | | 9,103 | |
| Skechers U.S.A., Inc.*—Class A (Textiles, Apparel & Luxury Goods) | | | 1,539 | | | | 74,103 | |
| SL Green Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 734 | | | | 30,204 | |
| Sonoco Products Co. (Containers & Packaging) | | | 547 | | | | 33,427 | |
| Sotera Health Co.* (Life Sciences Tools & Services) | | | 1,131 | | | | 19,498 | |
| Southwest Gas Holdings, Inc. (Gas Utilities) | | | 705 | | | | 47,186 | |
| Spire, Inc. (Gas Utilities) | | | 309 | | | | 22,316 | |
| Spirit Realty Capital, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,598 | | | | 70,120 | |
| Sprouts Farmers Market, Inc.* (Food & Staples Retailing) | | | 560 | | | | 17,892 | |
| STAAR Surgical Co.* (Health Care Equipment & Supplies) | | | 179 | | | | 12,628 | |
| Stericycle, Inc.* (Commercial Services & Supplies) | | | 1,053 | | | | 56,663 | |
| Stifel Financial Corp. (Capital Markets) | | | 1,212 | | | | 81,701 | |
| STORE Capital Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 1,581 | | | | 50,924 | |
| SunPower Corp.* (Semiconductors & Semiconductor Equipment) | | | 429 | | | | 7,477 | |
| Sunrun, Inc.* (Electrical Equipment) | | | 2,438 | | | | 64,071 | |
| Super Micro Computer, Inc.* (Technology Hardware, Storage & Peripherals) | | | 106 | | | | 7,667 | |
| Synaptics, Inc.* (Semiconductors & Semiconductor Equipment) | | | 450 | | | | 56,264 | |
| Syneos Health, Inc.* (Life Sciences Tools & Services) | | | 1,179 | | | | 42,350 | |
| Synovus Financial Corp. (Banks) | | | 1,663 | | | | 69,763 | |
| Tandem Diabetes Care, Inc.* (Health Care Equipment & Supplies) | | | 295 | | | | 12,018 | |
| Taylor Morrison Home Corp.* (Household Durables) | | | 1,241 | | | | 44,428 | |
| TD SYNNEX Corp. (Electronic Equipment, Instruments & Components) | | | 487 | | | | 49,747 | |
| TEGNA, Inc. (Media) | | | 2,554 | | | | 50,900 | |
| Tenet Healthcare Corp.* (Health Care Providers & Services) | | | 1,235 | | | | 67,739 | |
| Teradata Corp.* (Software) | | | 632 | | | | 22,044 | |
| Terex Corp. (Machinery) | | | 770 | | | | 39,247 | |
| Tetra Tech, Inc. (Commercial Services & Supplies) | | | 260 | | | | 40,435 | |
| Texas Capital Bancshares, Inc.* (Banks) | | | 568 | | | | 37,528 | |
| The Boston Beer Co., Inc.*—Class A (Beverages) | | | 36 | | | | 13,990 | |
| The Brink's Co. (Commercial Services & Supplies) | | | 282 | | | | 18,499 | |
| The Chemours Co. (Chemicals) | | | 745 | | | | 27,111 | |
| The Gap, Inc. (Specialty Retail) | | | 2,410 | | | | 32,704 | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Mid-Cap Value ProFund :: 95
Common Stocks, continued
| | | Shares | | | Value | |
| The Goodyear Tire & Rubber Co.* (Auto Components) | | | 3,238 | | | $ | 36,428 | |
| The Hanover Insurance Group, Inc. (Insurance) | | | 171 | | | | 23,013 | |
| The Macerich Co. (Equity Real Estate Investment Trusts (REITs)) | | | 2,464 | | | | 33,855 | |
| The Middleby Corp.* (Machinery) | | | 322 | | | | 50,055 | |
| The New York Times Co.—Class A (Media) | | | 937 | | | | 32,645 | |
| The Scotts Miracle-Gro Co.(a) (Chemicals) | | | 461 | | | | 33,280 | |
| The Timken Co. (Machinery) | | | 387 | | | | 31,869 | |
| The Western Union Co. (IT Services) | | | 4,411 | | | | 62,504 | |
| Thor Industries, Inc. (Automobiles) | | | 610 | | | | 58,151 | |
| Toll Brothers, Inc. (Household Durables) | | | 1,201 | | | | 71,447 | |
| TopBuild Corp.* (Household Durables) | | | 177 | | | | 35,411 | |
| Topgolf Callaway Brands Corp.* (Leisure Products) | | | 1,581 | | | | 38,719 | |
| Travel + Leisure Co. (Hotels, Restaurants & Leisure) | | | 932 | | | | 39,489 | |
| Trex Co., Inc.* (Building Products) | | | 590 | | | | 31,105 | |
| TripAdvisor, Inc.* (Interactive Media & Services) | | | 1,200 | | | | 27,960 | |
| UGI Corp. (Gas Utilities) | | | 2,392 | | | | 95,273 | |
| UMB Financial Corp. (Banks) | | | 500 | | | | 45,095 | |
| Umpqua Holdings Corp. (Banks) | | | 2,480 | �� | | | 45,136 | |
| Under Armour, Inc.*—Class A (Textiles, Apparel & Luxury Goods) | | | 2,162 | | | | 26,787 | |
| Under Armour, Inc.*—Class C (Textiles, Apparel & Luxury Goods) | | | 2,259 | | | | 24,623 | |
| United Bankshares, Inc. (Banks) | | | 799 | | | | 32,120 | |
| United States Steel Corp. (Metals & Mining) | | | 2,680 | | | | 76,353 | |
| Univar Solutions, Inc.* (Trading Companies & Distributors) | | | 1,867 | | | | 64,374 | |
| Universal Display Corp. (Semiconductors & Semiconductor Equipment) | | | 188 | | | | 24,916 | |
| Unum Group (Insurance) | | | 2,140 | | | | 89,944 | |
| Valley National Bancorp (Banks) | | | 4,812 | | | | 57,167 | |
| Valvoline, Inc. (Chemicals) | | | 1,101 | | | | 40,362 | |
| ViaSat, Inc.* (Communications Equipment) | | | 865 | | | | 29,799 | |
| Vicor Corp.* (Electrical Equipment) | | | 143 | | | | 9,928 | |
| Victoria's Secret & Co.* (Specialty Retail) | | | 932 | | | | 39,284 | |
| Vishay Intertechnology, Inc. (Electronic Equipment, Instruments & Components) | | | 1,480 | | | | 33,877 | |
| Vontier Corp. (Electronic Equipment, Instruments & Components) | | | 1,807 | | | | 41,615 | |
| Vornado Realty Trust (Equity Real Estate Investment Trusts (REITs)) | | | 1,848 | | | | 45,073 | |
| Voya Financial, Inc.(a) (Diversified Financial Services) | | | 1,109 | | | | 77,375 | |
| Washington Federal, Inc. (Banks) | | | 351 | | | | 12,446 | |
| Watts Water Technologies, Inc.—Class A (Machinery) | | | 149 | | | | 24,364 | |
| Webster Financial Corp. (Banks) | | | 1,987 | | | | 104,615 | |
| Werner Enterprises, Inc. (Road & Rail) | | | 673 | | | | 31,611 | |
| Williams-Sonoma, Inc. (Specialty Retail) | | | 397 | | | | 53,571 | |
| Wintrust Financial Corp. (Banks) | | | 692 | | | | 63,297 | |
| Wolfspeed, Inc.* (Semiconductors & Semiconductor Equipment) | | | 783 | | | | 60,299 | |
| Woodward, Inc. (Machinery) | | | 689 | | | | 70,457 | |
| Worthington Industries, Inc. (Metals & Mining) | | | 179 | | | | 10,180 | |
| Wyndham Hotels & Resorts, Inc. (Hotels, Restaurants & Leisure) | | | 487 | | | | 37,747 | |
| Xerox Holdings Corp. (Technology Hardware, Storage & Peripherals) | | | 1,278 | | | | 20,934 | |
| XPO, Inc.* (Air Freight & Logistics) | | | 1,316 | | | | 52,456 | |
| YETI Holdings, Inc.* (Leisure Products) | | | 441 | | | | 19,739 | |
| Ziff Davis, Inc.* (Interactive Media & Services) | | | 539 | | | | 48,230 | |
TOTAL COMMON STOCKS
(Cost $11,339,548) | | | | | | | 12,889,830 | |
Repurchase Agreements(b) (0.6%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $78,009 | | $ | 78,000 | | | $ | 78,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $78,000) | | | | | | | 78,000 | |
Collateral for Securities Loaned(c) (1.3%)
| | | Shares | | | Value | |
| Invesco Government & Agency Portfolio—Institutional Shares, 4.32%(d) | | | 171,810 | | | $ | 171,810 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $171,810) | | | | | | | 171,810 | |
TOTAL INVESTMENT SECURITIES
(Cost $11,589,358)—102.0% | | | | | | | 13,139,640 | |
| Net other assets (liabilities)—(2.0)% | | | | | | | (263,097 | ) |
| NET ASSETS—100.0% | | | | | | $ | 12,876,543 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $173,782. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (c) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (d) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
See accompanying notes to the financial statements.
96 :: Mid-Cap Value ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Mid-Cap Value ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 81,623 | | | | 0.6 | % |
| Air Freight & Logistics | | | 123,468 | | | | 1.0 | % |
| Airlines | | | 29,592 | | | | 0.2 | % |
| Auto Components | | | 252,520 | | | | 2.0 | % |
| Automobiles | | | 84,066 | | | | 0.6 | % |
| Banks | | | 1,283,476 | | | | 10.0 | % |
| Beverages | | | 39,836 | | | | 0.3 | % |
| Biotechnology | | | 22,114 | | | | 0.2 | % |
| Building Products | | | 210,008 | | | | 1.6 | % |
| Capital Markets | | | 226,610 | | | | 1.8 | % |
| Chemicals | | | 211,140 | | | | 1.6 | % |
| Commercial Services & Supplies | | | 164,473 | | | | 1.3 | % |
| Communications Equipment | | | 164,413 | | | | 1.3 | % |
| Construction & Engineering | | | 272,232 | | | | 2.1 | % |
| Consumer Finance | | | 22,878 | | | | 0.2 | % |
| Containers & Packaging | | | 100,292 | | | | 0.8 | % |
| Diversified Consumer Services | | | 29,399 | | | | 0.2 | % |
| Diversified Financial Services | | | 77,375 | | | | 0.6 | % |
| Diversified Telecommunication Services | | | 75,505 | | | | 0.6 | % |
| Electric Utilities | | | 188,772 | | | | 1.5 | % |
| Electrical Equipment | | | 254,033 | | | | 2.0 | % |
| Electronic Equipment, Instruments & Components | | | 600,482 | | | | 4.7 | % |
| Equity Real Estate Investment Trusts (REITs) | | | 1,434,287 | | | | 11.1 | % |
| Food & Staples Retailing | | | 156,653 | | | | 1.2 | % |
| Food Products | | | 171,556 | | | | 1.3 | % |
| Gas Utilities | | | 202,325 | | | | 1.6 | % |
| Health Care Equipment & Supplies | | | 439,029 | | | | 3.4 | % |
| Health Care Providers & Services | | | 276,769 | | | | 2.1 | % |
| Hotels, Restaurants & Leisure | | | 334,026 | | | | 2.6 | % |
| Household Durables | | | 273,778 | | | | 2.1 | % |
| Household Products | | | 28,270 | | | | 0.2 | % |
| Independent Power and Renewable Electricity Producers | | | 20,916 | | | | 0.2 | % |
| Insurance | | | 635,222 | | | | 4.9 | % |
| Interactive Media & Services | | | 76,190 | | | | 0.6 | % |
| IT Services | | | 214,972 | | | | 1.7 | % |
| Leisure Products | | | 204,567 | | | | 1.6 | % |
| Life Sciences Tools & Services | | | 142,697 | | | | 1.1 | % |
| Machinery | | | 641,186 | | | | 5.0 | % |
| Marine | | | 48,767 | | | | 0.4 | % |
| Media | | | 148,459 | | | | 1.2 | % |
| Metals & Mining | | | 350,082 | | | | 2.7 | % |
| Multiline Retail | | | 159,742 | | | | 1.2 | % |
| Multi-Utilities | | | 63,658 | | | | 0.5 | % |
| Oil, Gas & Consumable Fuels | | | 68,335 | | | | 0.5 | % |
| Personal Products | | | 67,516 | | | | 0.5 | % |
| Pharmaceuticals | | | 57,589 | | | | 0.4 | % |
| Professional Services | | | 153,492 | | | | 1.2 | % |
| Real Estate Management & Development | | | 100,569 | | | | 0.8 | % |
| Road & Rail | | | 175,184 | | | | 1.4 | % |
| Semiconductors & Semiconductor Equipment | | | 269,689 | | | | 2.1 | % |
| Software | | | 212,382 | | | | 1.6 | % |
| Specialty Retail | | | 487,411 | | | | 3.8 | % |
| Technology Hardware, Storage & Peripherals | | | 71,760 | | | | 0.6 | % |
| Textiles, Apparel & Luxury Goods | | | 400,155 | | | | 3.1 | % |
| Thrifts & Mortgage Finance | | | 179,797 | | | | 1.4 | % |
| Trading Companies & Distributors | | | 108,493 | | | | 0.8 | % |
| Other** | | | (13,287 | ) | | | (0.1 | )% |
| Total | | $ | 12,876,543 | | | | 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: Nasdaq-100 ProFund :: 97
Common Stocks (33.1%)
| | | Shares | | | Value | |
| Activision Blizzard, Inc. (Entertainment) | | | 2,441 | | | $ | 186,907 | |
| Adobe, Inc.* (Software) | | | 1,451 | | | | 537,363 | |
| Advanced Micro Devices, Inc.* (Semiconductors & Semiconductor Equipment) | | | 5,029 | | | | 377,929 | |
| Airbnb, Inc.*—Class A (Hotels, Restaurants & Leisure) | | | 1,241 | | | | 137,888 | |
| Align Technology, Inc.* (Health Care Equipment & Supplies) | | | 243 | | | | 65,544 | |
| Alphabet, Inc.*—Class A (Interactive Media & Services) | | | 14,637 | | | | 1,446,721 | |
| Alphabet, Inc.*—Class C (Interactive Media & Services) | | | 14,631 | | | | 1,461,198 | |
| Amazon.com, Inc.* (Internet & Direct Marketing Retail) | | | 24,528 | | | | 2,529,573 | |
| American Electric Power Co., Inc. (Electric Utilities) | | | 1,601 | | | | 150,430 | |
| Amgen, Inc. (Biotechnology) | | | 1,664 | | | | 419,994 | |
| Analog Devices, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,589 | | | | 272,466 | |
| ANSYS, Inc.* (Software) | | | 271 | | | | 72,184 | |
| Apple, Inc. (Technology Hardware, Storage & Peripherals) | | | 30,764 | | | | 4,438,938 | |
| Applied Materials, Inc. (Semiconductors & Semiconductor Equipment) | | | 2,683 | | | | 299,128 | |
| ASML Holding N.V.NYS (Semiconductors & Semiconductor Equipment) | | | 277 | | | | 183,053 | |
| AstraZeneca PLCADR (Pharmaceuticals) | | | 1,905 | | | | 124,530 | |
| Atlassian Corp.*—Class A (Software) | | | 462 | | | | 74,668 | |
| Autodesk, Inc.* (Software) | | | 674 | | | | 145,018 | |
| Automatic Data Processing, Inc. (IT Services) | | | 1,293 | | | | 291,972 | |
| Baker Hughes Co. (Energy Equipment & Services) | | | 3,123 | | | | 99,124 | |
| Biogen, Inc.* (Biotechnology) | | | 448 | | | | 130,323 | |
| Booking Holdings, Inc.* (Hotels, Restaurants & Leisure) | | | 122 | | | | 296,960 | |
| Broadcom, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,263 | | | | 738,868 | |
| Cadence Design Systems, Inc.* (Software) | | | 856 | | | | 156,502 | |
| Charter Communications, Inc.*—Class A (Media) | | | 485 | | | | 186,390 | |
| Cintas Corp. (Commercial Services & Supplies) | | | 316 | | | | 140,222 | |
| Cisco Systems, Inc. (Communications Equipment) | | | 12,812 | | | | 623,560 | |
| Cognizant Technology Solutions Corp.— Class A (IT Services) | | | 1,601 | | | | 106,867 | |
| Comcast Corp.—Class A (Media) | | | 13,456 | | | | 529,494 | |
| Constellation Energy Corp. (Electric Utilities) | | | 1,020 | | | | 87,067 | |
| Copart, Inc.* (Commercial Services & Supplies) | | | 1,487 | | | | 99,049 | |
| CoStar Group, Inc.* (Professional Services) | | | 1,269 | | | | 98,855 | |
| Costco Wholesale Corp. (Food & Staples Retailing) | | | 1,380 | | | | 705,373 | |
| Crowdstrike Holdings, Inc.*—Class A (Software) | | | 681 | | | | 72,118 | |
| CSX Corp. (Road & Rail) | | | 6,558 | | | | 202,773 | |
| Datadog, Inc.*—Class A (Software) | | | 911 | | | | 68,152 | |
| DexCom, Inc.* (Health Care Equipment & Supplies) | | | 1,204 | | | | 128,936 | |
| Diamondback Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 549 | | | | 80,220 | |
| Dollar Tree, Inc.* (Multiline Retail) | | | 689 | | | | 103,474 | |
| eBay, Inc. (Internet & Direct Marketing Retail) | | | 1,692 | | | | 83,754 | |
| Electronic Arts, Inc. (Entertainment) | | | 860 | | | | 110,665 | |
| Enphase Energy, Inc.* (Semiconductors & Semiconductor Equipment) | | | 424 | | | | 93,865 | |
| Exelon Corp. (Electric Utilities) | | | 3,098 | | | | 130,705 | |
| Fastenal Co. (Trading Companies & Distributors) | | | 1,787 | | | | 90,333 | |
| Fiserv, Inc.* (IT Services) | | | 1,981 | | | | 211,333 | |
| Fortinet, Inc.* (Software) | | | 2,436 | | | | 127,500 | |
| Gilead Sciences, Inc. (Biotechnology) | | | 3,910 | | | | 328,205 | |
| GLOBALFOUNDRIES, Inc.*(a) (Semiconductors & Semiconductor Equipment) | | | 1,699 | | | | 100,717 | |
| Honeywell International, Inc. (Industrial Conglomerates) | | | 2,096 | | | | 436,975 | |
| IDEXX Laboratories, Inc.* (Health Care Equipment & Supplies) | | | 257 | | | | 123,489 | |
| Illumina, Inc.* (Life Sciences Tools & Services) | | | 491 | | | | 105,172 | |
| Intel Corp. (Semiconductors & Semiconductor Equipment) | | | 12,872 | | | | 363,763 | |
| Intuit, Inc. (Software) | | | 875 | | | | 369,836 | |
| Intuitive Surgical, Inc.* (Health Care Equipment & Supplies) | | | 1,102 | | | | 270,751 | |
| JD.com, Inc.ADR (Internet & Direct Marketing Retail) | | | 1,516 | | | | 90,247 | |
| Keurig Dr Pepper, Inc. (Beverages) | | | 4,415 | | | | 155,761 | |
| KLA Corp. (Semiconductors & Semiconductor Equipment) | | | 442 | | | | 173,476 | |
| Lam Research Corp. (Semiconductors & Semiconductor Equipment) | | | 426 | | | | 213,043 | |
| Lucid Group, Inc.*(a) (Automobiles) | | | 5,242 | | | | 61,279 | |
| Lululemon Athletica, Inc.* (Textiles, Apparel & Luxury Goods) | | | 382 | | | | 117,228 | |
| Marriott International, Inc.—Class A (Hotels, Restaurants & Leisure) | | | 988 | | | | 172,090 | |
| Marvell Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 2,659 | | | | 114,736 | |
| Mercadolibre, Inc.* (Internet & Direct Marketing Retail) | | | 156 | | | | 184,344 | |
| Meta Platforms, Inc.*—Class A (Interactive Media & Services) | | | 7,015 | | | | 1,045,025 | |
| Microchip Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,716 | | | | 133,196 | |
| Micron Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 3,391 | | | | 204,477 | |
| Microsoft Corp. (Software) | | | 17,849 | | | | 4,423,161 | |
| Moderna, Inc.* (Biotechnology) | | | 1,200 | | | | 211,272 | |
| Mondelez International, Inc.—Class A (Food Products) | | | 4,259 | | | | 278,709 | |
| Monster Beverage Corp.* (Beverages) | | | 1,627 | | | | 169,338 | |
| Netflix, Inc.* (Entertainment) | | | 1,387 | | | | 490,804 | |
| NVIDIA Corp. (Semiconductors & Semiconductor Equipment) | | | 7,673 | | | | 1,499,074 | |
See accompanying notes to the financial statements.
98 :: Nasdaq-100 ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| NXP Semiconductors N.V. (Semiconductors & Semiconductor Equipment) | | | 808 | | | $ | 148,922 | |
| Old Dominion Freight Line, Inc. (Road & Rail) | | | 345 | | | | 114,968 | |
| O'Reilly Automotive, Inc.* (Specialty Retail) | | | 196 | | | | 155,300 | |
| PACCAR, Inc. (Machinery) | | | 1,085 | | | | 118,601 | |
| Palo Alto Networks, Inc.* (Software) | | | 941 | | | | 149,280 | |
| Paychex, Inc. (IT Services) | | | 1,123 | | | | 130,111 | |
| PayPal Holdings, Inc.* (IT Services) | | | 3,555 | | | | 289,697 | |
| PepsiCo, Inc. (Beverages) | | | 4,297 | | | | 734,873 | |
| Pinduoduo, Inc.*ADR (Internet & Direct Marketing Retail) | | | 1,459 | | | | 142,953 | |
| Qualcomm, Inc. (Semiconductors & Semiconductor Equipment) | | | 3,497 | | | | 465,835 | |
| Regeneron Pharmaceuticals, Inc.* (Biotechnology) | | | 335 | | | | 254,087 | |
| Rivian Automotive, Inc.*(a)—Class A (Automobiles) | | | 2,846 | | | | 55,212 | |
| Ross Stores, Inc. (Specialty Retail) | | | 1,083 | | | | 128,000 | |
| Seagen, Inc.* (Biotechnology) | | | 579 | | | | 80,759 | |
| Sirius XM Holdings, Inc.(a) (Media) | | | 12,131 | | | | 70,238 | |
| Starbucks Corp. (Hotels, Restaurants & Leisure) | | | 3,580 | | | | 390,721 | |
| Synopsys, Inc.* (Software) | | | 477 | | | | 168,739 | |
| Tesla, Inc.* (Automobiles) | | | 7,592 | | | | 1,315,087 | |
| Texas Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 2,830 | | | | 501,504 | |
| The Kraft Heinz Co. (Food Products) | | | 3,819 | | | | 154,784 | |
| T-Mobile U.S., Inc.* (Wireless Telecommunication Services) | | | 3,880 | | | | 579,323 | |
| Verisk Analytics, Inc. (Professional Services) | | | 489 | | | | 88,895 | |
| Vertex Pharmaceuticals, Inc.* (Biotechnology) | | | 801 | | | | 258,803 | |
| Walgreens Boots Alliance, Inc. (Food & Staples Retailing) | | | 2,695 | | | | 99,338 | |
| Warner Bros Discovery, Inc.* (Entertainment) | | | 7,571 | | | | 112,202 | |
| Workday, Inc.*—Class A (Software) | | | 631 | | | | 114,482 | |
| Xcel Energy, Inc. (Electric Utilities) | | | 1,707 | | | | 117,390 | |
| Zoom Video Communications, Inc.*— Class A (Software) | | | 765 | | | | 57,375 | |
| Zscaler, Inc.* (Software) | | | 449 | | | | 55,748 | |
TOTAL COMMON STOCKS
(Cost $17,274,455) | | | | | | | 37,607,381 | |
Repurchase Agreements(b)(c) (80.5%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $91,381,686 | | $ | 91,371,000 | | | $ | 91,371,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $91,371,000) | | | | | | | 91,371,000 | |
Collateral for Securities Loaned(d) (0.2%)
| | | Shares | | | Value | |
| Invesco Government & Agency Portfolio—Institutional Shares, 4.32%(e) | | | 243,474 | | | $ | 243,474 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $243,474) | | | | | | | 243,474 | |
TOTAL INVESTMENT SECURITIES
(Cost $108,888,929)—113.8% | | | | | | | 129,221,855 | |
| Net other assets (liabilities)—(13.8)% | | | | | | | (15,696,631 | ) |
| NET ASSETS—100.0% | | | | | | $ | 113,525,224 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $242,966. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $5,209,000. |
| (d) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (e) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
| 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 | | | 18 | | | 3/20/23 | | $ | 4,374,720 | | | $ | 117,927 | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Nasdaq-100 ProFund :: 99
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 | | | 2/27/23 | | | | 4.93 | % | | $ | 56,217,700 | | | $ | 721,216 | |
| Nasdaq-100 Index | | UBS AG | | | 2/27/23 | | | | 5.13 | % | | | 15,321,043 | | | | (89,222 | ) |
| | | | | | | | | | | | | $ | 71,538,743 | | | $ | 631,994 | |
| (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, 2023, 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, 2023:
| | | Value | | | % of
Net Assets | |
| Automobiles | | $ | 1,431,578 | | | | 1.2 | % |
| Beverages | | | 1,059,972 | | | | 0.9 | % |
| Biotechnology | | | 1,683,444 | | | | 1.5 | % |
| Commercial Services & Supplies | | | 239,271 | | | | 0.2 | % |
| Communications Equipment | | | 623,560 | | | | 0.5 | % |
| Electric Utilities | | | 485,592 | | | | 0.4 | % |
| Energy Equipment & Services | | | 99,124 | | | | 0.1 | % |
| Entertainment | | | 900,578 | | | | 0.8 | % |
| Food & Staples Retailing | | | 804,711 | | | | 0.7 | % |
| Food Products | | | 433,493 | | | | 0.4 | % |
| Health Care Equipment & Supplies | | | 588,720 | | | | 0.5 | % |
| Hotels, Restaurants & Leisure | | | 997,659 | | | | 0.9 | % |
| Industrial Conglomerates | | | 436,974 | | | | 0.4 | % |
| Interactive Media & Services | | | 3,952,944 | | | | 3.5 | % |
| Internet & Direct Marketing Retail | | | 3,030,871 | | | | 2.7 | % |
| IT Services | | | 1,029,980 | | | | 0.9 | % |
| Life Sciences Tools & Services | | | 105,172 | | | | 0.1 | % |
| Machinery | | | 118,601 | | | | 0.1 | % |
| Media | | | 786,122 | | | | 0.7 | % |
| Multiline Retail | | | 103,474 | | | | 0.1 | % |
| Oil, Gas & Consumable Fuels | | | 80,220 | | | | 0.1 | % |
| Pharmaceuticals | | | 124,530 | | | | 0.1 | % |
| Professional Services | | | 187,750 | | | | 0.2 | % |
| Road & Rail | | | 317,741 | | | | 0.3 | % |
| Semiconductors & Semiconductor Equipment | | | 5,884,052 | | | | 5.2 | % |
| Software | | | 6,592,127 | | | | 5.8 | % |
| Specialty Retail | | | 283,300 | | | | 0.2 | % |
| Technology Hardware, Storage & Peripherals | | | 4,438,937 | | | | 3.9 | % |
| Textiles, Apparel & Luxury Goods | | | 117,228 | | | | 0.1 | % |
| Trading Companies & Distributors | | | 90,333 | | | | 0.1 | % |
| Wireless Telecommunication Services | | | 579,323 | | | | 0.5 | % |
| Other** | | | 75,917,843 | | | | 66.9 | % |
| Total | | $ | 113,525,224 | | | | 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.
100 :: Oil & Gas Equipment & Services UltraSector ProFund† :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks (81.5%)
| | | Shares | | | Value | |
| Archrock, Inc. (Energy Equipment & Services) | | | 18,569 | | | $ | 184,019 | |
| Baker Hughes Co. (Energy Equipment & Services) | | | 22,809 | | | | 723,958 | |
| Bristow Group, Inc.* (Energy Equipment & Services) | | | 3,265 | | | | 99,713 | |
| Cactus, Inc.—Class A (Energy Equipment & Services) | | | 8,425 | | | | 455,877 | |
| ChampionX Corp. (Energy Equipment & Services) | | | 22,535 | | | | 744,106 | |
| Core Laboratories N.V. (Energy Equipment & Services) | | | 6,434 | | | | 164,710 | |
| Diamond Offshore Drilling, Inc.* (Energy Equipment & Services) | | | 14,087 | | | | 161,437 | |
| DMC Global, Inc.* (Energy Equipment & Services) | | | 2,574 | | | | 58,533 | |
| Dril-Quip, Inc.* (Energy Equipment & Services) | | | 4,706 | | | | 144,521 | |
| Expro Group Holdings N.V.* (Energy Equipment & Services) | | | 9,505 | | | | 179,549 | |
| Halliburton Co. (Energy Equipment & Services) | | | 84,288 | | | | 3,474,352 | |
| Helix Energy Solutions Group, Inc.* (Energy Equipment & Services) | | | 19,801 | | | | 157,022 | |
| Helmerich & Payne, Inc. (Energy Equipment & Services) | | | 13,955 | | | | 675,980 | |
| Liberty Energy, Inc. (Energy Equipment & Services) | | | 21,483 | | | | 340,076 | |
| Nabors Industries, Ltd.* (Energy Equipment & Services) | | | 1,241 | | | | 220,327 | |
| NexTier Oilfield Solutions, Inc.* (Energy Equipment & Services) | | | 22,144 | | | | 208,596 | |
| Noble Corp. PLC* (Energy Equipment & Services) | | | 13,615 | | | | 553,994 | |
| NOV, Inc. (Energy Equipment & Services) | | | 31,280 | | | | 764,483 | |
| Oceaneering International, Inc.* (Energy Equipment & Services) | | | 13,911 | | | | 297,000 | |
| Patterson-UTI Energy, Inc. (Energy Equipment & Services) | | | 30,083 | | | | 505,394 | |
| ProFrac Holding Corp.*—Class A (Energy Equipment & Services) | | | 3,792 | | | | 85,320 | |
| ProPetro Holding Corp.* (Energy Equipment & Services) | | | 13,351 | | | | 132,842 | |
| RPC, Inc. (Energy Equipment & Services) | | | 11,545 | | | | 114,526 | |
| Schlumberger, Ltd. (Energy Equipment & Services) | | | 63,847 | | | | 3,638,002 | |
| TechnipFMC PLC* (Energy Equipment & Services) | | | 55,637 | | | | 772,799 | |
| Transocean, Ltd.* (Energy Equipment & Services) | | | 92,147 | | | | 621,071 | |
| U.S. Silica Holdings, Inc.* (Energy Equipment & Services) | | | 10,505 | | | | 128,581 | |
| Valaris, Ltd.* (Energy Equipment & Services) | | | 8,345 | | | | 606,181 | |
| Weatherford International PLC* (Energy Equipment & Services) | | | 8,915 | | | | 507,085 | |
TOTAL COMMON STOCKS
(Cost $7,488,574) | | | | | | | 16,720,054 | |
Repurchase Agreements(a)(b) (15.6%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $3,206,375 | | $ | 3,206,000 | | | $ | 3,206,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $3,206,000) | | | | | | | 3,206,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $10,694,574)—97.1% | | | | | | | 19,926,054 | |
| Net other assets (liabilities)—2.9% | | | | | | | 604,356 | |
| NET ASSETS—100.0% | | | | | | $ | 20,530,410 | |
| † | As described in Note 11, effective March 17, 2023, this ProFund's name changed due to a change to its underlying benchmark index. |
| * | 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 the 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, 2023, the aggregate amount held in a segregated account was $2,573,000. |
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. Select Oil Equipment & Services Index | | Goldman Sachs International | | 2/23/23 | | | 4.93 | % | | $ | 6,848,406 | | | $ | 269,906 | |
| Dow Jones U.S. Select Oil Equipment & Services Index | | UBS AG | | 2/23/23 | | | 4.68 | % | | | 7,093,501 | | | | 277,903 | |
| | | | | | | | | | | $ | 13,941,907 | | | $ | 547,809 | |
| (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, 2023, 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: Oil & Gas Equipment & Services UltraSector ProFund† :: 101
Oil & Gas Equipment & Services UltraSector ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Energy Equipment & Services | | $ | 16,720,054 | | | | 81.5 | % |
| Other** | | | 3,810,356 | | | | 18.5 | % |
| Total | | $ | 20,530,410 | | | | 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.
102 :: Pharmaceuticals UltraSector ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks (66.8%)
| | | Shares | | | Value | |
| Aclaris Therapeutics, Inc.* (Pharmaceuticals) | | | 640 | | | $ | 10,816 | |
| Amicus Therapeutics, Inc.* (Biotechnology) | | | 3,117 | | | | 40,646 | |
| Amphastar Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 470 | | | | 14,222 | |
| Amylyx Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 496 | | | | 19,438 | |
| Arvinas, Inc.* (Pharmaceuticals) | | | 604 | | | | 19,793 | |
| Atea Pharmaceuticals, Inc.* (Biotechnology) | | | 945 | | | | 4,375 | |
| Axsome Therapeutics, Inc.* (Pharmaceuticals) | | | 428 | | | | 32,100 | |
| Bristol-Myers Squibb Co. (Pharmaceuticals) | | | 1,676 | | | | 121,761 | |
| Cara Therapeutics, Inc.* (Biotechnology) | | | 563 | | | | 6,576 | |
| Cassava Sciences, Inc.*(a) (Pharmaceuticals) | | | 469 | | | | 13,132 | |
| Catalent, Inc.* (Pharmaceuticals) | | | 2,243 | | | | 120,113 | |
| Catalyst Pharmaceuticals, Inc.* (Biotechnology) | | | 1,194 | | | | 18,495 | |
| Collegium Pharmaceutical, Inc.* (Pharmaceuticals) | | | 418 | | | | 11,737 | |
| Corcept Therapeutics, Inc.* (Pharmaceuticals) | | | 1,194 | | | | 27,295 | |
| DICE Therapeutics, Inc.* (Pharmaceuticals) | | | 422 | | | | 13,407 | |
| Elanco Animal Health, Inc.* (Pharmaceuticals) | | | 5,559 | | | | 76,325 | |
| Eli Lilly & Co. (Pharmaceuticals) | | | 1,518 | | | | 522,420 | |
| Harmony Biosciences Holdings, Inc.* (Pharmaceuticals) | | | 370 | | | | 17,823 | |
| Innoviva, Inc.* (Pharmaceuticals) | | | 783 | | | | 9,905 | |
| Intra-Cellular Therapies, Inc.* (Pharmaceuticals) | | | 1,098 | | | | 52,616 | |
| Ironwood Pharmaceuticals, Inc.* (Biotechnology) | | | 1,663 | | | | 19,158 | |
| Jazz Pharmaceuticals PLC* (Pharmaceuticals) | | | 785 | | | | 122,978 | |
| Johnson & Johnson (Pharmaceuticals) | | | 3,781 | | | | 617,892 | |
| Ligand Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 200 | | | | 13,940 | |
| Madrigal Pharmaceuticals, Inc.* (Biotechnology) | | | 151 | | | | 43,526 | |
| Merck & Co., Inc. (Pharmaceuticals) | | | 1,217 | | | | 130,718 | |
| Nuvation Bio, Inc.* (Pharmaceuticals) | | | 1,707 | | | | 4,199 | |
| Organon & Co. (Pharmaceuticals) | | | 3,171 | | | | 95,542 | |
| Pacira BioSciences, Inc.* (Pharmaceuticals) | | | 572 | | | | 22,462 | |
| Perrigo Co. PLC (Pharmaceuticals) | | | 1,678 | | | | 62,791 | |
| Pfizer, Inc. (Pharmaceuticals) | | | 2,667 | | | | 117,775 | |
| Phibro Animal Health Corp.—Class A (Pharmaceuticals) | | | 254 | | | | 3,912 | |
| Pliant Therapeutics, Inc.* (Pharmaceuticals) | | | 527 | | | | 18,466 | |
| Prestige Consumer Healthcare, Inc.* (Pharmaceuticals) | | | 617 | | | | 40,574 | |
| Reata Pharmaceuticals, Inc.*—Class A (Pharmaceuticals) | | | 348 | | | | 15,079 | |
| Revance Therapeutics, Inc.* (Pharmaceuticals) | | | 1,027 | | | | 35,616 | |
| Royalty Pharma PLC—Class A (Pharmaceuticals) | | | 3,180 | | | | 124,624 | |
| Theravance Biopharma, Inc.*(a) (Pharmaceuticals) | | | 721 | | | | 7,794 | |
| Vanda Pharmaceuticals, Inc.* (Biotechnology) | | | 705 | | | | 5,414 | |
| Ventyx Biosciences, Inc.* (Pharmaceuticals) | | | 346 | | | | 14,532 | |
| Viatris, Inc. (Pharmaceuticals) | | | 12,292 | | | | 149,471 | |
| Zoetis, Inc. (Pharmaceuticals) | | | 892 | | | | 147,617 | |
TOTAL COMMON STOCKS
(Cost $2,314,158) | | | | | | | 2,967,075 | |
Repurchase Agreements(b)(c) (32.2%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $1,428,167 | | $ | 1,428,000 | | | $ | 1,428,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $1,428,000) | | | | | | | 1,428,000 | |
Collateral for Securities Loaned(d) (0.5%)
| | | Shares | | | Value | |
| Invesco Government & Agency Portfolio—Institutional Shares, 4.32%(e) | | | 20,968 | | | $ | 20,968 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $20,968) | | | | | | | 20,968 | |
TOTAL INVESTMENT SECURITIES
(Cost $3,763,126)—99.5% | | | | | | | 4,416,043 | |
| Net other assets (liabilities)—0.5% | | | | | | | 20,783 | |
| NET ASSETS—100.0% | | | | | | $ | 4,436,826 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $20,831. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $456,000. |
| (d) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (e) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Pharmaceuticals UltraSector ProFund :: 103
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 | | 2/23/23 | | | 4.93 | % | | $ | 2,198,108 | | | $ | 1,983 | |
| Dow Jones U.S. Select Pharmaceuticals Index | | UBS AG | | 2/23/23 | | | 4.68 | % | | | 1,502,893 | | | | (7,846 | ) |
| | | | | | | | | | | $ | 3,701,001 | | | $ | (5,863 | ) |
| (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, 2023, 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, 2023:
| | | Value | | | % of
Net Assets | |
| Biotechnology | | $ | 138,190 | | | | 3.1 | % |
| Pharmaceuticals | | | 2,828,885 | | | | 63.7 | % |
| Other** | | | 1,469,751 | | | | 33.2 | % |
| Total | | $ | 4,436,826 | | | | 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.
104 :: Precious Metals UltraSector ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks (76.2%)
| | | Shares | | | Value | |
| Agnico Eagle Mines, Ltd. (Metals & Mining) | | | 35,868 | | | $ | 2,025,825 | |
| Alamos Gold, Inc. (Metals & Mining) | | | 30,874 | | | | 340,849 | |
| AngloGold Ashanti, Ltd.ADR (Metals & Mining) | | | 32,946 | | | | 692,525 | |
| B2Gold Corp. (Metals & Mining) | | | 84,529 | | | | 335,580 | |
| Barrick Gold Corp. (Metals & Mining) | | | 139,092 | | | | 2,719,249 | |
| Cia de Minas Buenaventura S.A.AADR (Metals & Mining) | | | 18,826 | | | | 152,302 | |
| Coeur Mining, Inc.* (Metals & Mining) | | | 22,115 | | | | 86,027 | |
| Eldorado Gold Corp.* (Metals & Mining) | | | 14,542 | | | | 139,022 | |
| Endeavour Silver Corp.* (Metals & Mining) | | | 14,928 | | | | 51,800 | |
| Equinox Gold Corp.* (Metals & Mining) | | | 22,093 | | | | 100,523 | |
| First Majestic Silver Corp. (Metals & Mining) | | | 18,807 | | | | 148,387 | |
| Fortuna Silver Mines, Inc.* (Metals & Mining) | | | 22,843 | | | | 87,946 | |
| Franco-Nevada Corp. (Metals & Mining) | | | 15,088 | | | | 2,213,410 | |
| Gold Fields, Ltd.ADR(a) (Metals & Mining) | | | 70,169 | | | | 802,733 | |
| Harmony Gold Mining Co., Ltd.ADR(a) (Metals & Mining) | | | 42,816 | | | | 150,284 | |
| Hecla Mining Co. (Metals & Mining) | | | 44,260 | | | | 273,084 | |
| IAMGOLD Corp.* (Metals & Mining) | | | 36,644 | | | | 102,970 | |
| Kinross Gold Corp. (Metals & Mining) | | | 98,872 | | | | 458,766 | |
| MAG Silver Corp.* (Metals & Mining) | | | 6,918 | | | | 94,846 | |
| New Gold, Inc.* (Metals & Mining) | | | 53,709 | | | | 63,377 | |
| Newmont Corp. (Metals & Mining) | | | 62,483 | | | | 3,307,225 | |
| Novagold Resources, Inc.* (Metals & Mining) | | | 19,158 | | | | 120,887 | |
| Osisko Gold Royalties, Ltd. (Metals & Mining) | | | 14,467 | | | | 193,568 | |
| Pan American Silver Corp. (Metals & Mining) | | | 16,573 | | | | 302,126 | |
| Royal Gold, Inc. (Metals & Mining) | | | 5,167 | | | | 656,364 | |
| Sandstorm Gold, Ltd. (Metals & Mining) | | | 18,778 | | | | 108,725 | |
| Seabridge Gold, Inc.* (Metals & Mining) | | | 5,182 | | | | 68,195 | |
| Sibanye Stillwater, Ltd.ADR(a) (Metals & Mining) | | | 55,699 | | | | 599,321 | |
| SilverCrest Metals, Inc.* (Metals & Mining) | | | 11,527 | | | | 75,271 | |
| SSR Mining, Inc. (Metals & Mining) | | | 16,263 | | | | 275,495 | |
| Wheaton Precious Metals Corp. (Metals & Mining) | | | 35,578 | | | | 1,627,338 | |
| Yamana Gold, Inc. (Metals & Mining) | | | 75,653 | | | | 456,188 | |
TOTAL COMMON STOCKS
(Cost $8,492,896) | | | | | | | 18,830,208 | |
Repurchase Agreements(b)(c) (26.7%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $6,613,773 | | $ | 6,613,000 | | | $ | 6,613,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $6,613,000) | | | | | | | 6,613,000 | |
Collateral for Securities Loaned(d) (6.5%)
| | | Shares | | | Value | |
| Invesco Government & Agency Portfolio—Institutional Shares, 4.32%(e) | | | 1,613,841 | | | $ | 1,613,841 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $1,613,841) | | | | | | | 1,613,841 | |
TOTAL INVESTMENT SECURITIES
(Cost $16,719,737)—109.4% | | | | | | | 27,057,049 | |
| Net other assets (liabilities)—(9.4)% | | | | | | | (2,335,277 | ) |
| NET ASSETS—100.0% | | | | | | $ | 24,721,772 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $1,550,949. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $3,165,000. |
| (d) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (e) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
| 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 | | 2/23/23 | | | 4.93 | % | | $ | 8,495,114 | | | $ | (121,513 | ) |
| Dow Jones Precious Metals Index | | UBS AG | | 2/23/23 | | | 5.08 | % | | | 9,743,280 | | | | (168,879 | ) |
| | | | | | | | | | | $ | 18,238,394 | | | $ | (290,392 | ) |
| (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, 2023, 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: Precious Metals UltraSector ProFund :: 105
Precious Metals UltraSector ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Metals & Mining | | $ | 18,830,207 | | | | 76.2 | % |
| Other** | | | 5,891,565 | | | | 23.8 | % |
| Total | | $ | 24,721,772 | | | | 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 :: Real Estate UltraSector ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks (79.4%)
| | | Shares | | | Value | |
| AGNC Investment Corp. (Mortgage Real Estate Investment Trusts (REITs)) | | | 1,894 | | | $ | 21,970 | |
| Agree Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 293 | | | | 21,867 | |
| Alexandria Real Estate Equities, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 494 | | | | 79,406 | |
| American Homes 4 Rent—Class A (Equity Real Estate Investment Trusts (REITs)) | | | 1,017 | | | | 34,873 | |
| American Tower Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 1,542 | | | | 344,466 | |
| Americold Realty Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 892 | | | | 28,018 | |
| Annaly Capital Management, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 1,551 | | | | 36,403 | |
| Apartment Income REIT Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 496 | | | | 18,977 | |
| AvalonBay Communities, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 463 | | | | 82,155 | |
| Blackstone Mortgage Trust, Inc.—Class A (Mortgage Real Estate Investment Trusts (REITs)) | | | 567 | | | | 13,517 | |
| Boston Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 473 | | | | 35,257 | |
| Brixmor Property Group, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 994 | | | | 23,389 | |
| Camden Property Trust (Equity Real Estate Investment Trusts (REITs)) | | | 353 | | | | 43,493 | |
| CBRE Group, Inc.*—Class A (Real Estate Management & Development) | | | 1,046 | | | | 89,443 | |
| Corporate Office Properties Trust (Equity Real Estate Investment Trusts (REITs)) | | | 373 | | | | 10,470 | |
| CoStar Group, Inc.* (Professional Services) | | | 1,346 | | | | 104,853 | |
| Cousins Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 502 | | | | 13,765 | |
| Crown Castle, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,434 | | | | 212,390 | |
| CubeSmart (Equity Real Estate Investment Trusts (REITs)) | | | 744 | | | | 34,068 | |
| Digital Realty Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 952 | | | | 109,118 | |
| Douglas Emmett, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 583 | | | | 9,765 | |
| EastGroup Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 144 | | | | 24,228 | |
| Equinix, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 306 | | | | 225,868 | |
| Equity Commonwealth (Equity Real Estate Investment Trusts (REITs)) | | | 364 | | | | 9,277 | |
| Equity LifeStyle Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 579 | | | | 41,561 | |
| Equity Residential (Equity Real Estate Investment Trusts (REITs)) | | | 1,127 | | | | 71,734 | |
| Essex Property Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 214 | | | | 48,379 | |
| Extra Space Storage, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 444 | | | | 70,077 | |
| Federal Realty Investment Trust (Equity Real Estate Investment Trusts (REITs)) | | | 242 | | | | 26,990 | |
| First Industrial Realty Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 438 | | | | 23,367 | |
| Gaming & Leisure Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 854 | | | | 45,740 | |
| Healthcare Realty Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,261 | | | | 27,149 | |
| Healthpeak Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,780 | | | | 48,914 | |
| Highwoods Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 348 | | | | 10,569 | |
| Host Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 2,369 | | | | 44,656 | |
| Invitation Homes, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,925 | | | | 62,563 | |
| Iron Mountain, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 963 | | | | 52,561 | |
| JBG Smith Properties (Equity Real Estate Investment Trusts (REITs)) | | | 328 | | | | 6,606 | |
| Jones Lang LaSalle, Inc.* (Real Estate Management & Development) | | | 157 | | | | 29,025 | |
| Kilroy Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 348 | | | | 14,282 | |
| Kimco Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 2,049 | | | | 46,021 | |
| Lamar Advertising Co.—Class A (Equity Real Estate Investment Trusts (REITs)) | | | 289 | | | | 30,790 | |
| Life Storage, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 282 | | | | 30,467 | |
| LXP Industrial Trust (Equity Real Estate Investment Trusts (REITs)) | | | 914 | | | | 10,557 | |
| Medical Properties Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,982 | | | | 25,667 | |
| Mid-America Apartment Communities, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 382 | | | | 63,687 | |
| National Health Investors, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 143 | | | | 8,413 | |
| National Retail Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 592 | | | | 28,031 | |
| National Storage Affiliates Trust (Equity Real Estate Investment Trusts (REITs)) | | | 280 | | | | 11,424 | |
| Omega Healthcare Investors, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 776 | | | | 22,845 | |
| Opendoor Technologies, Inc.* (Real Estate Management & Development) | | | 1,684 | | | | 3,688 | |
| Physicians Realty Trust (Equity Real Estate Investment Trusts (REITs)) | | | 756 | | | | 11,990 | |
| PotlatchDeltic Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 267 | | | | 13,070 | |
| Prologis, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 3,057 | | | | 395,209 | |
| Public Storage (Equity Real Estate Investment Trusts (REITs)) | | | 524 | | | | 159,474 | |
| Rayonier, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 486 | | | | 17,686 | |
| Realty Income Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 2,078 | | | | 140,951 | |
| Regency Centers Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 510 | | | | 33,981 | |
| Rexford Industrial Realty, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 607 | | | | 38,526 | |
| Rithm Capital Corp. (Mortgage Real Estate Investment Trusts (REITs)) | | | 1,571 | | | | 14,783 | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Real Estate UltraSector ProFund :: 107
Common Stocks, continued
| | | Shares | | | Value | |
| Sabra Health Care REIT, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 766 | | | $ | 10,341 | |
| SBA Communications Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 358 | | | | 106,516 | |
| Simon Property Group, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,083 | | | | 139,122 | |
| SL Green Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 214 | | | | 8,806 | |
| Spirit Realty Capital, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 463 | | | | 20,316 | |
| STAG Industrial, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 594 | | | | 21,146 | |
| Starwood Property Trust, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 1,026 | | | | 21,433 | |
| STORE Capital Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 880 | | | | 28,345 | |
| Sun Communities, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 410 | | | | 64,313 | |
| The Howard Hughes Corp.* (Real Estate Management & Development) | | | 114 | | | | 9,746 | |
| UDR, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,014 | | | | 43,186 | |
| Ventas, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,324 | | | | 68,596 | |
| VICI Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 3,190 | | | | 109,034 | |
| Vornado Realty Trust (Equity Real Estate Investment Trusts (REITs)) | | | 534 | | | | 13,024 | |
| Welltower, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,565 | | | | 117,438 | |
| Weyerhaeuser Co. (Equity Real Estate Investment Trusts (REITs)) | | | 2,437 | | | | 83,906 | |
| WP Carey, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 689 | | | | 58,930 | |
| Zillow Group, Inc.*—Class A (Real Estate Management & Development) | | | 193 | | | | 8,291 | |
| Zillow Group, Inc.*—Class C (Real Estate Management & Development) | | | 539 | | | | 23,829 | |
TOTAL COMMON STOCKS
(Cost $1,881,573) | | | | | | | 4,314,787 | |
Repurchase Agreements(a)(b) (19.6%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $1,067,125 | | $ | 1,067,000 | | | $ | 1,067,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $1,067,000) | | | | | | | 1,067,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $2,948,573)—99.0% | | | | | | | 5,381,787 | |
| Net other assets (liabilities)—1.0% | | | | | | | 53,177 | |
| NET ASSETS—100.0% | | | | | | $ | 5,434,964 | |
| * | 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 the 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, 2023, the aggregate amount held in a segregated account was $649,000. |
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 | | 2/23/23 | | | 4.93 | % | | $ | 1,681,414 | | | $ | 47,319 | |
| Dow Jones U.S. Real Estate Index | | UBS AG | | 2/23/23 | | | 4.68 | % | | | 2,142,109 | | | | 62,513 | |
| | | | | | | | | | | $ | 3,823,523 | | | $ | 109,832 | |
| (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, 2023, 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 :: Real Estate UltraSector ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Real Estate UltraSector ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Equity Real Estate Investment Trusts (REITs) | | $ | 3,937,805 | | | | 72.5 | % |
| Mortgage Real Estate Investment Trusts (REITs) | | | 108,106 | | | | 2.0 | % |
| Professional Services | | | 104,853 | | | | 1.9 | % |
| Real Estate Management & Development | | | 164,022 | | | | 3.0 | % |
| Other** | | | 1,120,178 | | | | 20.6 | % |
| Total | | $ | 5,434,964 | | | | 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: Rising Rates Opportunity ProFund :: 109
Repurchase Agreements(a)(b) (97.7%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $16,890,975 | | $ | 16,889,000 | | | $ | 16,889,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $16,889,000) | | | | | | | 16,889,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $16,889,000)—97.7% | | | | | | | 16,889,000 | |
| Net other assets (liabilities)—2.3% | | | | | | | 393,465 | |
| NET ASSETS—100.0% | | | | | | $ | 17,282,465 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $389,000. |
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, 4.00%, due 11/15/52 | | Citibank North America | | 2/15/23 | | | (4.20 | )% | | $ | (9,392,542 | ) | | $ | (1,615 | ) |
| 30-Year U.S. Treasury Bond, 4.00%, due 11/15/52 | | Societe’ Generale | | 2/15/23 | | | (4.11 | )% | | | (12,184,630 | ) | | | (84,388 | ) |
| | | | | | | | | | | $ | (21,577,172 | ) | | $ | (86,003 | ) |
| (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, 2023, 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.
110 :: Rising Rates Opportunity 10 ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Repurchase Agreements(a)(b) (100.6%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $3,100,363 | | $ | 3,100,000 | | | $ | 3,100,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $3,100,000) | | | | | | | 3,100,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $3,100,000)—100.6% | | | | | | | 3,100,000 | |
| Net other assets (liabilities)—(0.6)% | | | | | | | (19,247 | ) |
| NET ASSETS—100.0% | | | | | | $ | 3,080,753 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $73,000. |
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, 4.125%, due 11/15/32 | | Citibank North America | | 2/15/23 | | | (4.15 | )% | | $ | (178,898 | ) | | $ | (829 | ) |
| 10-Year U.S. Treasury Note, 4.125%, due 11/15/32 | | Societe’ Generale | | 2/15/23 | | | (4.08 | )% | | | (2,904,469 | ) | | | (12,137 | ) |
| | | | | | | | | | | $ | (3,083,367 | ) | | $ | (12,966 | ) |
| (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, 2023, 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: Rising U.S. Dollar ProFund :: 111
Repurchase Agreements(a)(b) (98.8%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $17,815,083 | | $ | 17,813,000 | | | $ | 17,813,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $17,813,000) | | | | | | | 17,813,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $17,813,000)—98.8% | | | | | | | 17,813,000 | |
| Net other assets (liabilities)—1.2% | | | | | | | 221,444 | |
| NET ASSETS—100.0% | | | | | | $ | 18,034,444 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $1,757,000. |
As of January 31, 2023, 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 | | $ | 1,102,029 | | | British pound | | | 907,338 | | | 2/3/23 | | $ | 1,118,453 | | | $ | (16,424 | ) |
| U.S. dollar | | | 1,140,012 | | | Canadian dollar | | | 1,531,596 | | | 2/3/23 | | | 1,151,252 | | | | (11,240 | ) |
| U.S. dollar | | | 7,947,963 | | | Euro | | | 7,366,981 | | | 2/3/23 | | | 8,009,383 | | | | (61,420 | ) |
| U.S. dollar | | | 1,624,286 | | | Japanese yen | | | 214,530,573 | | | 2/3/23 | | | 1,648,964 | | | | (24,678 | ) |
| U.S. dollar | | | 610,954 | | | Swedish krona | | | 6,383,787 | | | 2/3/23 | | | 610,795 | | | | 159 | |
| U.S. dollar | | | 575,089 | | | Swiss franc | | | 533,182 | | | 2/3/23 | | | 582,763 | | | | (7,674 | ) |
| Total Short Contracts | | $ | 13,000,333 | | | | | | | | | | | $ | 13,121,610 | | | $ | (121,277 | ) |
| Long: | | | | | | | | | | | | | | | | | | | | |
| British pound | | | 279,030 | | | U.S. dollar | | $ | 344,451 | | | 2/3/23 | | $ | 343,953 | | | $ | (498 | ) |
| Canadian dollar | | | 304,443 | | | U.S. dollar | | | 225,559 | | | 2/3/23 | | | 228,840 | | | | 3,281 | |
| Euro | | | 1,369,598 | | | U.S. dollar | | | 1,479,641 | | | 2/3/23 | | | 1,489,027 | | | | 9,386 | |
| Japanese yen | | | 47,770,108 | | | U.S. dollar | | | 371,411 | | | 2/3/23 | | | 367,179 | | | | (4,232 | ) |
| Swedish krona | | | 1,231,448 | | | U.S. dollar | | | 119,256 | | | 2/3/23 | | | 117,824 | | | | (1,432 | ) |
| Swiss franc | | | 96,723 | | | U.S. dollar | | | 105,665 | | | 2/3/23 | | | 105,718 | | | | 53 | |
| Total Long Contracts | | | | | | | | $ | 2,645,983 | | | | | $ | 2,652,541 | | | $ | 6,558 | |
As of January 31, 2023, 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 | | $ | 2,015,824 | | | British pound | | | 1,659,736 | | | 2/3/23 | | $ | 2,045,914 | | | $ | (30,090 | ) |
| U.S. dollar | | | 1,281,474 | | | Canadian dollar | | | 1,721,599 | | | 2/3/23 | | | 1,294,072 | | | | (12,598 | ) |
| U.S. dollar | | | 7,391,113 | | | Euro | | | 6,849,255 | | | 2/3/23 | | | 7,446,512 | | | | (55,399 | ) |
| U.S. dollar | | | 1,923,958 | | | Japanese yen | | | 254,190,701 | | | 2/3/23 | | | 1,953,806 | | | | (29,848 | ) |
| U.S. dollar | | | 487,238 | | | Swedish krona | | | 5,091,433 | | | 2/3/23 | | | 487,144 | | | | 94 | |
| U.S. dollar | | | 366,654 | | | Swiss franc | | | 339,902 | | | 2/3/23 | | | 371,510 | | | | (4,856 | ) |
| Total Short Contracts | | $ | 13,466,261 | | | | | | | | | | | $ | 13,598,958 | | | $ | (132,697 | ) |
| Long: | | | | | | | | | | | | | | | | | | | | |
| British pound | | | 545,025 | | | U.S. dollar | | $ | 666,055 | | | 2/3/23 | | $ | 671,839 | | | $ | 5,784 | |
| Canadian dollar | | | 729,503 | | | U.S. dollar | | | 546,082 | | | 2/3/23 | | | 548,344 | | | | 2,262 | |
| Euro | | | 3,209,272 | | | U.S. dollar | | | 3,487,545 | | | 2/3/23 | | | 3,489,121 | | | | 1,576 | |
| Japanese yen | | | 105,004,500 | | | U.S. dollar | | | 814,771 | | | 2/3/23 | | | 807,104 | | | | (7,667 | ) |
| Swedish krona | | | 2,410,763 | | | U.S. dollar | | | 231,709 | | | 2/3/23 | | | 230,660 | | | | (1,049 | ) |
| Swiss franc | | | 181,173 | | | U.S. dollar | | | 195,596 | | | 2/3/23 | | | 198,021 | | | | 2,425 | |
| Total Long Contracts | | | | | | | | $ | 5,941,758 | | | | | $ | 5,945,089 | | | $ | 3,331 | |
| Total unrealized appreciation | | | $ | 25,020 | |
| Total unrealized (depreciation) | | | | (269,105 | ) |
| Total net unrealized appreciation/(depreciation) | | | $ | (244,085 | ) |
See accompanying notes to the financial statements.
112 :: Semiconductor UltraSector ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks (75.8%)
| | | Shares | | | Value | |
| Advanced Micro Devices, Inc.* (Semiconductors & Semiconductor Equipment) | | | 39,119 | | | $ | 2,939,793 | |
| Allegro MicroSystems, Inc.* (Semiconductors & Semiconductor Equipment) | | | 1,577 | | | | 60,194 | |
| Amkor Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 2,436 | | | | 71,277 | |
| Analog Devices, Inc. (Semiconductors & Semiconductor Equipment) | | | 12,480 | | | | 2,139,946 | |
| Applied Materials, Inc. (Semiconductors & Semiconductor Equipment) | | | 20,874 | | | | 2,327,242 | |
| Broadcom, Inc. (Semiconductors & Semiconductor Equipment) | | | 9,827 | | | | 5,748,893 | |
| Cirrus Logic, Inc.* (Semiconductors & Semiconductor Equipment) | | | 1,336 | | | | 120,761 | |
| Enphase Energy, Inc.* (Semiconductors & Semiconductor Equipment) | | | 3,298 | | | | 730,111 | |
| Entegris, Inc. (Semiconductors & Semiconductor Equipment) | | | 3,615 | | | | 291,767 | |
| GLOBALFOUNDRIES, Inc.*(a) (Semiconductors & Semiconductor Equipment) | | | 1,703 | | | | 100,954 | |
| Intel Corp. (Semiconductors & Semiconductor Equipment) | | | 100,132 | | | | 2,829,730 | |
| KLA Corp. (Semiconductors & Semiconductor Equipment) | | | 3,438 | | | | 1,349,346 | |
| Lam Research Corp. (Semiconductors & Semiconductor Equipment) | | | 3,309 | | | | 1,654,831 | |
| Lattice Semiconductor Corp.* (Semiconductors & Semiconductor Equipment) | | | 3,325 | | | | 252,002 | |
| Marvell Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 20,685 | | | | 892,558 | |
| Microchip Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 13,345 | | | | 1,035,839 | |
| Micron Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 26,377 | | | | 1,590,533 | |
| MKS Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,388 | | | | 142,020 | |
| Monolithic Power Systems, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,082 | | | | 461,538 | |
| NVIDIA Corp. (Semiconductors & Semiconductor Equipment) | | | 60,403 | | | | 11,800,934 | |
| NXP Semiconductors N.V. (Semiconductors & Semiconductor Equipment) | | | 6,287 | | | | 1,158,757 | |
| ON Semiconductor Corp.* (Semiconductors & Semiconductor Equipment) | | | 10,491 | | | | 770,564 | |
| Power Integrations, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,388 | | | | 119,493 | |
| Qorvo, Inc.* (Semiconductors & Semiconductor Equipment) | | | 2,460 | | | | 267,304 | |
| Qualcomm, Inc. (Semiconductors & Semiconductor Equipment) | | | 27,199 | | | | 3,623,179 | |
| Semtech Corp.* (Semiconductors & Semiconductor Equipment) | | | 1,541 | | | | 50,899 | |
| Silicon Laboratories, Inc.* (Semiconductors & Semiconductor Equipment) | | | 808 | | | | 126,783 | |
| Skyworks Solutions, Inc. (Semiconductors & Semiconductor Equipment) | | | 3,893 | | | | 426,945 | |
| SolarEdge Technologies, Inc.* (Semiconductors & Semiconductor Equipment) | | | 1,356 | | | | 432,740 | |
| Teradyne, Inc. (Semiconductors & Semiconductor Equipment) | | | 3,779 | | | | 384,324 | |
| Texas Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 22,013 | | | | 3,900,924 | |
| Universal Display Corp. (Semiconductors & Semiconductor Equipment) | | | 1,054 | | | | 139,687 | |
| Wolfspeed, Inc.* (Semiconductors & Semiconductor Equipment) | | | 3,014 | | | | 232,108 | |
TOTAL COMMON STOCKS
(Cost $17,022,361) | | | | | | | 48,173,976 | |
Repurchase Agreements(b)(c) (35.3%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $22,508,632 | | $ | 22,506,000 | | | $ | 22,506,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $22,506,000) | | | | | | | 22,506,000 | |
Collateral for Securities Loaned(d) (0.1%)
| | | Shares | | | Value | |
| Invesco Government & Agency Portfolio—Institutional Shares, 4.32%(e) | | | 93,765 | | | $ | 93,765 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $93,765) | | | | | | | 93,765 | |
TOTAL INVESTMENT SECURITIES
(Cost $39,622,126)—111.2% | | | | | | | 70,773,741 | |
| Net other assets (liabilities)—(11.2)% | | | | | | | (7,101,737 | ) |
| NET ASSETS—100.0% | | | | | | $ | 63,672,004 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $94,611. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $10,573,000. |
| (d) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (e) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Semiconductor UltraSector ProFund :: 113
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 | | 2/23/23 | | | 4.93 | % | | $ | 27,989,255 | | | $ | 11,968 | |
| Dow Jones U.S. Semiconductors Index | | UBS AG | | 2/23/23 | | | 4.68 | % | | | 19,029,713 | | | | 12,413 | |
| | | | | | | | | | | $ | 47,018,968 | | | $ | 24,381 | |
| (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, 2023, 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, 2023:
| | | Value | | | % of
Net Assets | |
| Semiconductors & Semiconductor Equipment | | $ | 48,173,976 | | | | 75.8 | % |
| Other** | | | 15,498,028 | | | | 24.2 | % |
| Total | | $ | 63,672,004 | | | | 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.
114 :: Short Bitcoin Strategy ProFund :: Consolidated Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
U.S. Treasury Obligation (62.7%)
| | | Principal
Amount | | | Value | |
| U.S. Treasury Bills, 4.03%+, 2/16/23^ | | $ | 200,000 | | | $ | 199,642 | |
TOTAL U.S. TREASURY OBLIGATION
(Cost $199,658) | | | | | | | 199,642 | |
TOTAL INVESTMENT SECURITIES
(Cost $199,658)—62.7% | | | | | | | 199,642 | |
| Reverse Repurchase Agreements Including accrued interest—(62.7)% | | | | | | | (199,662 | ) |
| Net other assets (liabilities)—100.0% | | | | | | | 318,527 | |
| NET ASSETS—100.0% | | | | | | $ | 318,507 | |
| + | Reflects the effective yield or interest rate in effect at January 31, 2023. |
| ^ | $199,642 of this security has been pledged as collateral for reverse repurchase agreements. |
Futures Contracts Sold
| | | Number
of
Contracts | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| CME Bitcoin Futures Contracts | | 2 | | 2/27/23 | | $ | (232,500 | ) | | $ | 768 | |
| CME Micro Bitcoin Futures Contracts | | 36 | | 2/27/23 | | | (83,700 | ) | | | (485 | ) |
| | | | | | | $ | (316,200 | ) | | $ | 283 | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Short Energy ProFund† :: 115
Repurchase Agreements(a)(b) (112.6%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $1,423,166 | | $ | 1,423,000 | | | $ | 1,423,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $1,423,000) | | | | | | | 1,423,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $1,423,000)—112.6% | | | | | | | 1,423,000 | |
| Net other assets (liabilities)—(12.6)% | | | | | | | (159,774 | ) |
| NET ASSETS—100.0% | | | | | | $ | 1,263,226 | |
| † | As described in Note 11, effective March 17, 2023, this ProFund’s name changed due to a change to its underlying benchmark index. |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $384,000. |
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 | | 2/23/23 | | | (4.43 | )% | | $ | (852,302 | ) | | $ | 8,895 | |
| Dow Jones U.S. Oil & Gas Index | | UBS AG | | 2/23/23 | | | (4.28 | )% | | | (400,335 | ) | | | 2,306 | |
| | | | | | | | | | | $ | (1,252,637 | ) | | $ | 11,201 | |
| (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, 2023, 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 :: Short Nasdaq-100 ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Repurchase Agreements(a)(b) (109.7%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $8,301,971 | | $ | 8,301,000 | | | $ | 8,301,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $8,301,000) | | | | | | | 8,301,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $8,301,000)—109.7% | | | | | | | 8,301,000 | |
| Net other assets (liabilities)—(9.7)% | | | | | | | (733,258 | ) |
| NET ASSETS—100.0% | | | | | | $ | 7,567,742 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $1,258,000. |
Futures Contracts Sold
| | | Number
of
Contracts | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini Nasdaq-100 Futures Contracts | | 3 | | 3/20/23 | | $ | (729,120 | ) | | $ | (42,120 | ) |
| | | | | | | | | | | | | |
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 | | 2/27/23 | | | (4.68 | )% | | $ | (3,691,695 | ) | | $ | (3,624 | ) |
| Nasdaq-100 Index | | UBS AG | | 2/27/23 | | | (4.48 | )% | | | (3,146,502 | ) | | | 18,095 | |
| | | | | | | | | | | $ | (6,838,197 | ) | | $ | 14,471 | |
| (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, 2023, 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: Short Precious Metals ProFund :: 117
Repurchase Agreements(a)(b) (85.2%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $4,065,475 | | $ | 4,065,000 | | | $ | 4,065,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $4,065,000) | | | | | | | 4,065,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $4,065,000)—85.2% | | | | | | | 4,065,000 | |
| Net other assets (liabilities)—14.8% | | | | | | | 706,354 | |
| NET ASSETS—100.0% | | | | | | $ | 4,771,354 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See “Repurchase Agreements” under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $701,000. |
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 | | 2/23/23 | | | (4.43 | )% | | $ | (1,056,258 | ) | | $ | (16,454 | ) |
| Dow Jones Precious Metals Index | | UBS AG | | 2/23/23 | | | (4.08 | )% | | | (3,709,374 | ) | | | (10,045 | ) |
| | | | | | | | | | | $ | (4,765,632 | ) | | $ | (26,499 | ) |
| (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, 2023, 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 :: Short Real Estate ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Repurchase Agreements(a)(b) (112.3%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $1,680,196 | | $ | 1,680,000 | | | $ | 1,680,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $1,680,000) | | | | | | | 1,680,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $1,680,000)—112.3% | | | | | | | 1,680,000 | |
| Net other assets (liabilities)—(12.3)% | | | | | | | (184,425 | ) |
| NET ASSETS—100.0% | | | | | | $ | 1,495,575 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $263,000. |
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 | | 2/23/23 | | | (4.43 | )% | | $ | (717,158 | ) | | $ | (18,356 | ) |
| Dow Jones U.S. Real Estate Index | | UBS AG | | 2/23/23 | | | (4.08 | )% | | | (778,032 | ) | | | (29,002 | ) |
| | | | | | | | | | | $ | (1,495,190 | ) | | $ | (47,358 | ) |
| (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, 2023, 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: Short Small-Cap ProFund :: 119
Repurchase Agreements(a)(b) (105.0%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $2,097,245 | | $ | 2,097,000 | | | $ | 2,097,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $2,097,000) | | | | | | | 2,097,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $2,097,000)—105.0% | | | | | | | 2,097,000 | |
| Net other assets (liabilities)—(5.0)% | | | | | | | (100,069 | ) |
| NET ASSETS—100.0% | | | | | | $ | 1,996,931 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $530,000. |
Futures Contracts Sold
| | | Number
of
Contracts | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini Russell 2000 Index Futures Contracts | | 2 | | 3/20/23 | | $ | (193,940 | ) | | $ | (11,738 | ) |
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 | | 2/27/23 | | | (4.33 | )% | | $ | (535,147 | ) | | $ | (8,600 | ) |
| Russell 2000 Index | | UBS AG | | 2/27/23 | | | (3.83 | )% | | | (1,267,359 | ) | | | (12,992 | ) |
| | | | | | | | | | | $ | (1,802,506 | ) | | $ | (21,592 | ) |
| (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, 2023, 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.
120 :: Small-Cap Growth ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks (99.9%)
| | | Shares | | | Value | |
| 8x8, Inc.* (Software) | | | 459 | | | $ | 2,162 | |
| A10 Networks, Inc. (Software) | | | 569 | | | | 8,808 | |
| AAON, Inc. (Building Products) | | | 377 | | | | 28,773 | |
| Academy Sports & Outdoors, Inc. (Leisure Products) | | | 335 | | | | 19,571 | |
| AdaptHealth Corp.* (Health Care Providers & Services) | | | 685 | | | | 14,680 | |
| Addus HomeCare Corp.* (Health Care Providers & Services) | | | 143 | | | | 15,375 | |
| Adtalem Global Education, Inc.* (Diversified Consumer Services) | | | 406 | | | | 15,501 | |
| ADTRAN Holdings, Inc. (Communications Equipment) | | | 436 | | | | 8,227 | |
| Advanced Energy Industries, Inc. (Electronic Equipment, Instruments & Components) | | | 334 | | | | 30,975 | |
| Aerojet Rocketdyne Holdings, Inc.* (Aerospace & Defense) | | | 677 | | | | 37,858 | |
| AeroVironment, Inc.* (Aerospace & Defense) | | | 224 | | | | 19,929 | |
| Agiliti, Inc.* (Health Care Providers & Services) | | | 134 | | | | 2,472 | |
| Agilysys, Inc.* (Software) | | | 178 | | | | 14,874 | |
| Agree Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 546 | | | | 40,747 | |
| Alamo Group, Inc. (Machinery) | | | 68 | | | | 10,640 | |
| Alarm.com Holdings, Inc.* (Software) | | | 445 | | | | 23,852 | |
| Albany International Corp.—Class A (Machinery) | | | 278 | | | | 31,178 | |
| Alpha & Omega Semiconductor, Ltd.* (Semiconductors & Semiconductor Equipment) | | | 198 | | | | 6,526 | |
| American Equity Investment Life Holding Co. (Insurance) | | | 322 | | | | 15,343 | |
| American States Water Co. (Water Utilities) | | | 226 | | | | 21,282 | |
| American Vanguard Corp. (Chemicals) | | | 246 | | | | 5,557 | |
| Ameris Bancorp (Banks) | | | 355 | | | | 16,742 | |
| AMERISAFE, Inc. (Insurance) | | | 94 | | | | 5,178 | |
| AMN Healthcare Services, Inc.* (Health Care Providers & Services) | | | 388 | | | | 37,186 | |
| Amphastar Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 337 | | | | 10,198 | |
| ANI Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 57 | | | | 2,550 | |
| Anika Therapeutics, Inc.* (Health Care Equipment & Supplies) | | | 69 | | | | 2,140 | |
| Apogee Enterprises, Inc. (Building Products) | | | 114 | | | | 5,340 | |
| Applied Industrial Technologies, Inc. (Trading Companies & Distributors) | | | 344 | | | | 49,265 | |
| Arcosa, Inc. (Construction & Engineering) | | | 285 | | | | 16,892 | |
| Arcus Biosciences, Inc.* (Biotechnology) | | | 465 | | | | 10,058 | |
| Arlo Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 397 | | | | 1,489 | |
| Armada Hoffler Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 393 | | | | 4,983 | |
| ARMOUR Residential REIT, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 1,180 | | | | 7,411 | |
| Asbury Automotive Group, Inc.* (Specialty Retail) | | | 89 | | | | 19,581 | |
| Assured Guaranty, Ltd. (Insurance) | | | 273 | | | | 17,090 | |
| ATI, Inc.* (Metals & Mining) | | | 717 | | | | 26,092 | |
| Atlas Air Worldwide Holdings, Inc.* (Air Freight & Logistics) | | | 104 | | | | 10,630 | |
| ATN International, Inc. (Diversified Telecommunication Services) | | | 97 | | | | 4,741 | |
| Avantax, Inc.* (Capital Markets) | | | 428 | | | | 12,472 | |
| Avid Bioservices, Inc.* (Biotechnology) | | | 384 | | | | 6,079 | |
| Avid Technology, Inc.* (Technology Hardware, Storage & Peripherals) | | | 174 | | | | 5,274 | |
| Axcelis Technologies, Inc.* (Semiconductors & Semiconductor Equipment) | | | 293 | | | | 32,215 | |
| Axos Financial, Inc.* (Thrifts & Mortgage Finance) | | | 257 | | | | 12,367 | |
| B Riley Financial, Inc. (Capital Markets) | | | 69 | | | | 2,948 | |
| Badger Meter, Inc. (Electronic Equipment, Instruments & Components) | | | 261 | | | | 30,250 | |
| Balchem Corp. (Chemicals) | | | 287 | | | | 37,491 | |
| BancFirst Corp. (Banks) | | | 154 | | | | 13,264 | |
| Banner Corp. (Banks) | | | 305 | | | | 19,773 | |
| Bed Bath & Beyond, Inc.*(a) (Specialty Retail) | | | 265 | | | | 747 | |
| Berkshire Hills Bancorp, Inc. (Banks) | | | 232 | | | | 7,204 | |
| BioLife Solutions, Inc.* (Health Care Equipment & Supplies) | | | 305 | | | | 7,149 | |
| Bloomin' Brands, Inc. (Hotels, Restaurants & Leisure) | | | 455 | | | | 11,034 | |
| Boise Cascade Co. (Trading Companies & Distributors) | | | 351 | | | | 26,314 | |
| Boot Barn Holdings, Inc.* (Specialty Retail) | | | 161 | | | | 13,442 | |
| Brady Corp.—Class A (Commercial Services & Supplies) | | | 269 | | | | 14,383 | |
| Brightsphere Investment Group, Inc. (Capital Markets) | | | 150 | | | | 3,518 | |
| California Water Service Group (Water Utilities) | | | 304 | | | | 18,596 | |
| Callon Petroleum Co.* (Oil, Gas & Consumable Fuels) | | | 227 | | | | 9,659 | |
| Cal-Maine Foods, Inc. (Food Products) | | | 339 | | | | 19,398 | |
| Cara Therapeutics, Inc.* (Biotechnology) | | | 402 | | | | 4,695 | |
| CareTrust REIT, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 537 | | | | 11,127 | |
| Cars.com, Inc.* (Interactive Media & Services) | | | 554 | | | | 9,473 | |
| Catalyst Pharmaceuticals, Inc.* (Biotechnology) | | | 855 | | | | 13,244 | |
| Cavco Industries, Inc.* (Household Durables) | | | 74 | | | | 19,692 | |
| Central Garden & Pet Co.* (Household Products) | | | 42 | | | | 1,761 | |
| Central Garden & Pet Co.*—Class A (Household Products) | | | 179 | | | | 7,094 | |
| CEVA, Inc.* (Semiconductors & Semiconductor Equipment) | | | 127 | | | | 4,206 | |
| Chesapeake Utilities Corp. (Gas Utilities) | | | 107 | | | | 13,491 | |
| Chuy's Holdings, Inc.* (Hotels, Restaurants & Leisure) | | | 86 | | | | 2,944 | |
| City Holding Co. (Banks) | | | 134 | | | | 12,702 | |
| Civitas Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 464 | | | | 30,880 | |
| Clearfield, Inc.* (Communications Equipment) | | | 102 | | | | 7,289 | |
| Cogent Communications Holdings, Inc. (Diversified Telecommunication Services) | | | 225 | | | | 15,429 | |
| Coherus Biosciences, Inc.* (Biotechnology) | | | 292 | | | | 2,476 | |
| Cohu, Inc.* (Semiconductors & Semiconductor Equipment) | | | 281 | | | | 10,138 | |
| Collegium Pharmaceutical, Inc.* (Pharmaceuticals) | | | 299 | | | | 8,396 | |
| Columbia Banking System, Inc. (Banks) | | | 365 | | | | 11,282 | |
| Comfort Systems USA, Inc. (Construction & Engineering) | | | 320 | | | | 38,734 | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Small-Cap Growth ProFund :: 121
Common Stocks, continued
| | | Shares | | | Value | |
| Community Bank System, Inc. (Banks) | | | 273 | | | $ | 15,755 | |
| Community Healthcare Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 126 | | | | 5,403 | |
| Computer Programs and Systems, Inc.* (Health Care Technology) | | | 68 | | | | 1,998 | |
| CONMED Corp. (Health Care Equipment & Supplies) | | | 135 | | | | 12,928 | |
| Consensus Cloud Solutions, Inc.* (Software) | | | 107 | | | | 6,288 | |
| CONSOL Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 292 | | | | 16,886 | |
| Corcept Therapeutics, Inc.* (Pharmaceuticals) | | | 856 | | | | 19,568 | |
| Core Laboratories N.V. (Energy Equipment & Services) | | | 199 | | | | 5,094 | |
| Corsair Gaming, Inc.* (Technology Hardware, Storage & Peripherals) | | | 191 | | | | 3,004 | |
| CorVel Corp.* (Health Care Providers & Services) | | | 53 | | | | 9,442 | |
| Cross Country Healthcare, Inc.* (Health Care Providers & Services) | | | 318 | | | | 8,825 | |
| CSG Systems International, Inc. (IT Services) | | | 270 | | | | 16,112 | |
| CTS Corp. (Electronic Equipment, Instruments & Components) | | | 285 | | | | 12,685 | |
| Customers Bancorp, Inc.* (Banks) | | | 136 | | | | 4,130 | |
| Cutera, Inc.* (Health Care Equipment & Supplies) | | | 114 | | | | 3,971 | |
| CVB Financial Corp. (Banks) | | | 1,174 | | | | 28,434 | |
| Cytokinetics, Inc.* (Biotechnology) | | | 847 | | | | 35,982 | |
| Dave & Buster's Entertainment, Inc.* (Hotels, Restaurants & Leisure) | | | 208 | | | | 9,017 | |
| Digi International, Inc.* (Communications Equipment) | | | 317 | | | | 10,775 | |
| Digital Turbine, Inc.* (Software) | | | 514 | | | | 8,923 | |
| Dime Community Bancshares, Inc. (Banks) | | | 291 | | | | 8,678 | |
| Dine Brands Global, Inc. (Hotels, Restaurants & Leisure) | | | 85 | | | | 6,571 | |
| Diodes, Inc.* (Semiconductors & Semiconductor Equipment) | | | 407 | | | | 36,300 | |
| Donnelley Financial Solutions, Inc.* (Capital Markets) | | | 113 | | | | 5,154 | |
| Dorian LPG, Ltd. (Oil, Gas & Consumable Fuels) | | | 284 | | | | 5,637 | |
| Dorman Products, Inc. (Auto Components) | | | 252 | | | | 24,459 | |
| DoubleVerify Holdings, Inc.* (Software) | | | 662 | | | | 18,000 | |
| Dril-Quip, Inc.* (Energy Equipment & Services) | | | 159 | | | | 4,883 | |
| Dynavax Technologies Corp.* (Biotechnology) | | | 1,059 | | | | 12,051 | |
| Eagle Pharmaceuticals, Inc.* (Biotechnology) | | | 63 | | | | 2,138 | |
| Edgewell Personal Care Co. (Personal Products) | | | 223 | | | | 9,558 | |
| elf Beauty, Inc.* (Personal Products) | | | 449 | | | | 25,840 | |
| Embecta Corp. (Health Care Equipment & Supplies) | | | 241 | | | | 6,360 | |
| Employers Holdings, Inc. (Insurance) | | | 126 | | | | 5,528 | |
| Enanta Pharmaceuticals, Inc.* (Biotechnology) | | | 68 | | | | 3,630 | |
| Encore Wire Corp. (Electrical Equipment) | | | 164 | | | | 26,475 | |
| Enerpac Tool Group Corp. (Machinery) | | | 336 | | | | 8,917 | |
| EnPro Industries, Inc. (Machinery) | | | 186 | | | | 22,519 | |
| ePlus, Inc.* (Electronic Equipment, Instruments & Components) | | | 115 | | | | 5,725 | |
| ESCO Technologies, Inc. (Machinery) | | | 157 | | | | 15,455 | |
| Ethan Allen Interiors, Inc. (Household Durables) | | | 204 | | | | 5,863 | |
| EVERTEC, Inc. (IT Services) | | | 378 | | | | 13,963 | |
| Exponent, Inc. (Professional Services) | | | 313 | | | | 32,095 | |
| Extreme Networks, Inc.* (Communications Equipment) | | | 1,172 | | | | 21,132 | |
| Fabrinet* (Electronic Equipment, Instruments & Components) | | | 327 | | | | 43,052 | |
| FB Financial Corp. (Banks) | | | 157 | | | | 5,897 | |
| Federal Signal Corp. (Machinery) | | | 542 | | | | 28,862 | |
| First Bancorp (Banks) | | | 1,649 | | | | 22,179 | |
| First Bancorp (Banks) | | | 192 | | | | 7,651 | |
| First Commonwealth Financial Corp. (Banks) | | | 457 | | | | 6,722 | |
| First Financial Bancorp (Banks) | | | 466 | | | | 11,804 | |
| First Hawaiian, Inc. (Banks) | | | 593 | | | | 16,272 | |
| Forward Air Corp. (Air Freight & Logistics) | | | 236 | | | | 25,452 | |
| Four Corners Property Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 501 | | | | 14,409 | |
| Franklin Electric Co., Inc. (Machinery) | | | 347 | | | | 31,334 | |
| Frontdoor, Inc.* (Diversified Consumer Services) | | | 379 | | | | 10,301 | |
| Fulgent Genetics, Inc.* (Health Care Providers & Services) | | | 80 | | | | 2,702 | |
| FutureFuel Corp. (Chemicals) | | | 131 | | | | 1,214 | |
| Gentherm, Inc.* (Auto Components) | | | 181 | | | | 13,472 | |
| Getty Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 241 | | | | 8,780 | |
| Glaukos Corp.* (Health Care Equipment & Supplies) | | | 286 | | | | 14,028 | |
| Gogo, Inc.* (Wireless Telecommunication Services) | | | 376 | | | | 6,306 | |
| Golden Entertainment, Inc.* (Hotels, Restaurants & Leisure) | | | 121 | | | | 4,780 | |
| Green Brick Partners, Inc.* (Household Durables) | | | 241 | | | | 7,519 | |
| Griffon Corp. (Building Products) | | | 423 | | | | 17,292 | |
| H.B. Fuller Co. (Chemicals) | | | 305 | | | | 21,076 | |
| Hanmi Financial Corp. (Banks) | | | 272 | | | | 6,335 | |
| Harmonic, Inc.* (Communications Equipment) | | | 942 | | | | 12,406 | |
| Harmony Biosciences Holdings, Inc.* (Pharmaceuticals) | | | 264 | | | | 12,717 | |
| Haverty Furniture Cos., Inc. (Specialty Retail) | | | 61 | | | | 2,130 | |
| Hawkins, Inc. (Chemicals) | | | 170 | | | | 6,630 | |
| Haynes International, Inc. (Metals & Mining) | | | 74 | | | | 4,121 | |
| HealthStream, Inc.* (Health Care Technology) | | | 136 | | | | 3,288 | |
| Heartland Express, Inc. (Road & Rail) | | | 270 | | | | 4,541 | |
| Helmerich & Payne, Inc. (Energy Equipment & Services) | | | 545 | | | | 26,399 | |
| Heritage Financial Corp. (Banks) | | | 315 | | | | 8,987 | |
| Hibbett, Inc. (Specialty Retail) | | | 61 | | | | 4,048 | |
| Hillenbrand, Inc. (Machinery) | | | 621 | | | | 29,100 | |
| Hostess Brands, Inc.* (Food Products) | | | 1,196 | | | | 27,664 | |
| Hub Group, Inc.*—Class A (Air Freight & Logistics) | | | 132 | | | | 11,256 | |
| Independent Bank Corp. (Banks) | | | 210 | | | | 16,735 | |
| Innospec, Inc. (Chemicals) | | | 221 | | | | 24,977 | |
| Innovative Industrial Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 249 | | | | 22,355 | |
| Innoviva, Inc.* (Pharmaceuticals) | | | 560 | | | | 7,084 | |
| Installed Building Products, Inc. (Household Durables) | | | 137 | | | | 15,082 | |
| Insteel Industries, Inc. (Building Products) | | | 80 | | | | 2,399 | |
| Inter Parfums, Inc. (Personal Products) | | | 158 | | | | 18,679 | |
| InterDigital, Inc. (Communications Equipment) | | | 264 | | | | 18,467 | |
| Invesco Mortgage Capital, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 141 | | | | 2,071 | |
| Ironwood Pharmaceuticals, Inc.* (Biotechnology) | | | 749 | | | | 8,628 | |
| iTeos Therapeutics, Inc.* (Biotechnology) | | | 219 | | | | 4,577 | |
See accompanying notes to the financial statements.
122 :: Small-Cap Growth ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| J & J Snack Foods Corp. (Food Products) | | | 135 | | | $ | 19,346 | |
| Jack in the Box, Inc. (Hotels, Restaurants & Leisure) | | | 189 | | | | 14,360 | |
| John B Sanfilippo & Son, Inc. (Food Products) | | | 48 | | | | 4,056 | |
| Kaiser Aluminum Corp. (Metals & Mining) | | | 142 | | | | 12,428 | |
| Korn Ferry (Professional Services) | | | 227 | | | | 12,256 | |
| Kulicke & Soffa Industries, Inc. (Semiconductors & Semiconductor Equipment) | | | 518 | | | | 26,470 | |
| Lakeland Financial Corp. (Banks) | | | 226 | | | | 15,980 | |
| LCI Industries (Auto Components) | | | 114 | | | | 12,793 | |
| LeMaitre Vascular, Inc. (Health Care Equipment & Supplies) | | | 121 | | | | 5,709 | |
| Leslie's, Inc.* (Specialty Retail) | | | 861 | | | | 13,337 | |
| Ligand Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 77 | | | | 5,367 | |
| Lindsay Corp. (Machinery) | | | 98 | | | | 15,349 | |
| Liquidity Services, Inc.* (Internet & Direct Marketing Retail) | | | 133 | | | | 1,994 | |
| Livent Corp.* (Chemicals) | | | 1,603 | | | | 41,550 | |
| LivePerson, Inc.* (Software) | | | 324 | | | | 4,173 | |
| LiveRamp Holdings, Inc.* (Software) | | | 326 | | | | 8,724 | |
| LTC Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 234 | | | | 8,927 | |
| Marcus & Millichap, Inc. (Real Estate Management & Development) | | | 221 | | | | 8,009 | |
| Marten Transport, Ltd. (Road & Rail) | | | 515 | | | | 11,377 | |
| Materion Corp. (Metals & Mining) | | | 105 | | | | 9,476 | |
| Matson, Inc. (Marine) | | | 338 | | | | 22,349 | |
| MaxLinear, Inc.*—Class A (Semiconductors & Semiconductor Equipment) | | | 646 | | | | 26,615 | |
| Medifast, Inc. (Personal Products) | | | 98 | | | | 10,922 | |
| Mercer International, Inc. (Paper & Forest Products) | | | 155 | | | | 1,973 | |
| Merit Medical Systems, Inc.* (Health Care Equipment & Supplies) | | | 509 | | | | 36,317 | |
| Mesa Laboratories, Inc. (Health Care Equipment & Supplies) | | | 28 | | | | 5,447 | |
| Methode Electronics, Inc. (Electronic Equipment, Instruments & Components) | | | 171 | | | | 8,164 | |
| MGP Ingredients, Inc. (Beverages) | | | 137 | | | | 13,363 | |
| Middlesex Water Co. (Water Utilities) | | | 100 | | | | 8,386 | |
| Mister Car Wash, Inc.* (Diversified Consumer Services) | | | 360 | | | | 3,697 | |
| Monarch Casino & Resort, Inc.* (Hotels, Restaurants & Leisure) | | | 120 | | | | 9,194 | |
| Moog, Inc.—Class A (Aerospace & Defense) | | | 158 | | | | 15,061 | |
| Mr. Cooper Group, Inc.* (Thrifts & Mortgage Finance) | | | 629 | | | | 28,927 | |
| Mueller Industries, Inc. (Machinery) | | | 508 | | | | 33,298 | |
| Myers Industries, Inc. (Containers & Packaging) | | | 325 | | | | 7,826 | |
| MYR Group, Inc.* (Construction & Engineering) | | | 74 | | | | 7,330 | |
| Nabors Industries, Ltd.* (Energy Equipment & Services) | | | 55 | | | | 9,765 | |
| National Bank Holdings Corp. (Banks) | | | 223 | | | | 9,417 | |
| National Beverage Corp.* (Beverages) | | | 141 | | | | 6,232 | |
| National Vision Holdings, Inc.* (Specialty Retail) | | | 408 | | | | 16,769 | |
| NBT Bancorp, Inc. (Banks) | | | 383 | | | | 15,056 | |
| Nektar Therapeutics* (Pharmaceuticals) | | | 805 | | | | 2,190 | |
| NetScout Systems, Inc.* (Communications Equipment) | | | 614 | | | | 19,709 | |
| NexPoint Residential Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 107 | | | | 5,404 | |
| NextGen Healthcare, Inc.* (Health Care Technology) | | | 489 | | | | 9,301 | |
| NMI Holdings, Inc.*—Class A (Thrifts & Mortgage Finance) | | | 382 | | | | 8,874 | |
| Northfield Bancorp, Inc. (Thrifts & Mortgage Finance) | | | 203 | | | | 3,035 | |
| Northwest Bancshares, Inc. (Banks) | | | 589 | | | | 8,328 | |
| Northwest Natural Holding Co. (Gas Utilities) | | | 202 | | | | 10,128 | |
| NV5 Global, Inc.* (Construction & Engineering) | | | 112 | | | | 14,928 | |
| Oceaneering International, Inc.* (Energy Equipment & Services) | | | 644 | | | | 13,749 | |
| OFG Bancorp (Banks) | | | 424 | | | | 12,003 | |
| O-I Glass, Inc.* (Containers & Packaging) | | | 636 | | | | 12,243 | |
| OneSpan, Inc.* (Software) | | | 154 | | | | 2,127 | |
| Onto Innovation, Inc.* (Semiconductors & Semiconductor Equipment) | | | 442 | | | | 34,763 | |
| OptimizeRx Corp.* (Health Care Technology) | | | 88 | | | | 1,580 | |
| OSI Systems, Inc.* (Electronic Equipment, Instruments & Components) | | | 70 | | | | 6,630 | |
| Oxford Industries, Inc. (Textiles, Apparel & Luxury Goods) | | | 94 | | | | 11,019 | |
| Pacira BioSciences, Inc.* (Pharmaceuticals) | | | 409 | | | | 16,061 | |
| Palomar Holdings, Inc.* (Insurance) | | | 225 | | | | 11,500 | |
| Park Aerospace Corp. (Aerospace & Defense) | | | 90 | | | | 1,252 | |
| Park National Corp. (Banks) | | | 130 | | | | 16,283 | |
| Pathward Financial, Inc. (Banks) | | | 186 | | | | 9,229 | |
| Patterson-UTI Energy, Inc. (Energy Equipment & Services) | | | 1,316 | | | | 22,109 | |
| Payoneer Global, Inc.* (IT Services) | | | 767 | | | | 4,571 | |
| PDF Solutions, Inc.* (Semiconductors & Semiconductor Equipment) | | | 264 | | | | 8,390 | |
| Perdoceo Education Corp.* (Diversified Consumer Services) | | | 376 | | | | 5,629 | |
| Perficient, Inc.* (IT Services) | | | 178 | | | | 13,197 | |
| PGT Innovations, Inc.* (Building Products) | | | 535 | | | | 11,610 | |
| Photronics, Inc.* (Semiconductors & Semiconductor Equipment) | | | 550 | | | | 9,966 | |
| Piper Sandler Cos. (Capital Markets) | | | 127 | | | | 18,046 | |
| Plexus Corp.* (Electronic Equipment, Instruments & Components) | | | 246 | | | | 23,614 | |
| Preferred Bank (Banks) | | | 120 | | | | 8,536 | |
| Prestige Consumer Healthcare, Inc.* (Pharmaceuticals) | | | 311 | | | | 20,450 | |
| Progress Software Corp. (Software) | | | 385 | | | | 20,420 | |
| Quaker Chemical Corp. (Chemicals) | | | 124 | | | | 24,412 | |
| Quanex Building Products Corp. (Building Products) | | | 167 | | | | 4,324 | |
| QuinStreet, Inc.* (Interactive Media & Services) | | | 233 | | | | 3,572 | |
| Rambus, Inc.* (Semiconductors & Semiconductor Equipment) | | | 960 | | | | 38,852 | |
| Ranger Oil Corp. (Oil, Gas & Consumable Fuels) | | | 172 | | | | 7,224 | |
| REGENXBIO, Inc.* (Biotechnology) | | | 336 | | | | 7,799 | |
| REX American Resources Corp.* (Oil, Gas & Consumable Fuels) | | | 138 | | | | 4,515 | |
| RPC, Inc. (Energy Equipment & Services) | | | 743 | | | | 7,371 | |
| Ruth's Hospitality Group, Inc. (Hotels, Restaurants & Leisure) | | | 140 | | | | 2,423 | |
| S&T Bancorp, Inc. (Banks) | | | 239 | | | | 8,695 | |
| Sabre Corp.* (IT Services) | | | 1,114 | | | | 7,586 | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Small-Cap Growth ProFund :: 123
Common Stocks, continued
| | | Shares | | | Value | |
| Safety Insurance Group, Inc. (Insurance) | | | 75 | | | $ | 6,329 | |
| Sanmina Corp.* (Electronic Equipment, Instruments & Components) | | | 236 | | | | 14,379 | |
| Saul Centers, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 66 | | | | 2,825 | |
| Seacoast Banking Corp. of Florida (Banks) | | | 398 | | | | 12,780 | |
| ServisFirst Bancshares, Inc. (Banks) | | | 436 | | | | 29,726 | |
| Shake Shack, Inc.*—Class A (Hotels, Restaurants & Leisure) | | | 178 | | | | 10,125 | |
| Shutterstock, Inc. (Internet & Direct Marketing Retail) | | | 102 | | | | 7,677 | |
| Simulations Plus, Inc. (Health Care Technology) | | | 97 | | | | 3,991 | |
| Six Flags Entertainment Corp.* (Hotels, Restaurants & Leisure) | | | 284 | | | | 7,625 | |
| SJW Group (Water Utilities) | | | 237 | | | | 18,346 | |
| SM Energy Co. (Oil, Gas & Consumable Fuels) | | | 1,098 | | | | 36,092 | |
| Southside Bancshares, Inc. (Banks) | | | 158 | | | | 5,985 | |
| SPS Commerce, Inc.* (Software) | | | 322 | | | | 43,818 | |
| SPX Technologies, Inc.* (Machinery) | | | 249 | | | | 18,677 | |
| Standex International Corp. (Machinery) | | | 73 | | | | 8,437 | |
| Stellar Bancorp, Inc. (Banks) | | | 397 | | | | 11,160 | |
| Stepan Co. (Chemicals) | | | 125 | | | | 13,730 | |
| StoneX Group, Inc.* (Capital Markets) | | | 153 | | | | 13,446 | |
| Strategic Education, Inc. (Diversified Consumer Services) | | | 114 | | | | 10,642 | |
| Stride, Inc.* (Diversified Consumer Services) | | | 365 | | | | 15,670 | |
| Sturm Ruger & Co., Inc. (Leisure Products) | | | 98 | | | | 5,576 | |
| Sun Country Airlines Holdings, Inc.* (Airlines) | | | 290 | | | | 5,414 | |
| Supernus Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 483 | | | | 19,808 | |
| Surmodics, Inc.* (Health Care Equipment & Supplies) | | | 67 | | | | 1,883 | |
| Sylvamo Corp. (Paper & Forest Products) | | | 170 | | | | 8,080 | |
| Talos Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 313 | | | | 6,201 | |
| Tanger Factory Outlet Centers, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 511 | | | | 9,765 | |
| TechTarget, Inc.* (Media) | | | 239 | | | | 11,838 | |
| The Andersons, Inc. (Food & Staples Retailing) | | | 123 | | | | 4,524 | |
| The Bancorp, Inc.* (Banks) | | | 498 | | | | 16,897 | |
| The Buckle, Inc. (Specialty Retail) | | | 183 | | | | 8,052 | |
| The Chefs' Warehouse, Inc.* (Food & Staples Retailing) | | | 189 | | | | 7,225 | |
| The Ensign Group, Inc. (Health Care Providers & Services) | | | 496 | | | | 46,252 | |
| The Simply Good Foods Co.* (Food Products) | | | 753 | | | | 27,334 | |
| The St Joe Co. (Real Estate Management & Development) | | | 303 | | | | 14,271 | |
| TimkenSteel Corp.* (Metals & Mining) | | | 151 | | | | 2,970 | |
| Titan International, Inc.* (Machinery) | | | 454 | | | | 7,577 | |
| Tompkins Financial Corp. (Banks) | | | 72 | | | | 5,424 | |
| Tootsie Roll Industries, Inc. (Food Products) | | | 158 | | | | 7,067 | |
| TreeHouse Foods, Inc.* (Food Products) | | | 210 | | | | 10,170 | |
| Trinity Industries, Inc. (Machinery) | | | 430 | | | | 12,371 | |
| Triumph Financial, Inc.* (Banks) | | | 127 | | | | 7,078 | |
| Trupanion, Inc.* (Insurance) | | | 316 | | | | 18,650 | |
| TrustCo Bank Corp. (Thrifts & Mortgage Finance) | | | 113 | | | | 4,058 | |
| Trustmark Corp. (Banks) | | | 377 | | | | 10,978 | |
| TTEC Holdings, Inc. (IT Services) | | | 85 | | | | 4,321 | |
| U.S. Physical Therapy, Inc. (Health Care Providers & Services) | | | 70 | | | | 6,941 | |
| U.S. Silica Holdings, Inc.* (Energy Equipment & Services) | | | 391 | | | | 4,786 | |
| UFP Industries, Inc. (Building Products) | | | 551 | | | | 51,545 | |
| Ultra Clean Holdings, Inc.* (Semiconductors & Semiconductor Equipment) | | | 224 | | | | 7,538 | |
| UniFirst Corp. (Commercial Services & Supplies) | | | 79 | | | | 15,677 | |
| uniQure N.V.* (Biotechnology) | | | 369 | | | | 7,841 | |
| United Community Banks, Inc. (Banks) | | | 617 | | | | 20,077 | |
| Uniti Group, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 953 | | | | 6,280 | |
| Unitil Corp. (Multi-Utilities) | | | 143 | | | | 7,460 | |
| Universal Health Realty Income Trust (Equity Real Estate Investment Trusts (REITs)) | | | 74 | | | | 4,056 | |
| Urban Edge Properties (Equity Real Estate Investment Trusts (REITs)) | | | 534 | | | | 8,411 | |
| Urstadt Biddle Properties, Inc.—Class A (Equity Real Estate Investment Trusts (REITs)) | | | 151 | | | | 2,836 | |
| Vector Group, Ltd. (Tobacco) | | | 516 | | | | 6,682 | |
| Veeco Instruments, Inc.* (Semiconductors & Semiconductor Equipment) | | | 459 | | | | 9,116 | |
| Veradigm, Inc.* (Health Care Technology) | | | 974 | | | | 17,444 | |
| Vericel Corp.* (Biotechnology) | | | 239 | | | | 6,565 | |
| Veris Residential, Inc.* (Equity Real Estate Investment Trusts (REITs)) | | | 396 | | | | 6,851 | |
| Veritex Holdings, Inc. (Banks) | | | 236 | | | | 6,643 | |
| Viavi Solutions, Inc.* (Communications Equipment) | | | 1,050 | | | | 11,865 | |
| Vir Biotechnology, Inc.* (Biotechnology) | | | 677 | | | | 20,005 | |
| Virtus Investment Partners, Inc. (Capital Markets) | | | 33 | | | | 7,091 | |
| Vista Outdoor, Inc.* (Leisure Products) | | | 227 | | | | 6,662 | |
| Vital Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 151 | | | | 8,498 | |
| Wabash National Corp. (Machinery) | | | 246 | | | | 6,337 | |
| Warrior Met Coal, Inc. (Metals & Mining) | | | 258 | | | | 9,773 | |
| WD-40 Co. (Household Products) | | | 79 | | | | 13,789 | |
| Westamerica Bancorp (Banks) | | | 239 | | | | 13,279 | |
| Winnebago Industries, Inc. (Automobiles) | | | 127 | | | | 8,087 | |
| WisdomTree, Inc. (Capital Markets) | | | 559 | | | | 3,220 | |
| Xencor, Inc.* (Biotechnology) | | | 535 | | | | 17,612 | |
| XPEL, Inc.* (Auto Components) | | | 176 | | | | 13,388 | |
| Yelp, Inc.* (Interactive Media & Services) | | | 359 | | | | 11,311 | |
| Zynex, Inc.* (Health Care Equipment & Supplies) | | | 193 | | | | 2,727 | |
TOTAL COMMON STOCKS
(Cost $2,897,435) | | | | | | | 4,321,530 | |
Collateral for Securities Loaned(b)(NM)
| Invesco Government & Agency Portfolio—Institutional Shares, 4.32%(c) | | | 780 | | | | 780 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $780) | | | | | | | 780 | |
TOTAL INVESTMENT SECURITIES
(Cost $2,898,215)—99.9% | | | | | | | 4,322,310 | |
| Net other assets (liabilities)—0.1% | | | | | | | 5,106 | |
| NET ASSETS—100.0% | | | | | | $ | 4,327,416 | |
See accompanying notes to the financial statements.
124 :: Small-Cap Growth ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $733. |
| (b) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (c) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
| NM | Not meaningful, amount is less than 0.05%. |
Small-Cap Growth ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 74,100 | | | | 1.7 | % |
| Air Freight & Logistics | | | 47,338 | | | | 1.1 | % |
| Airlines | | | 5,414 | | | | 0.1 | % |
| Auto Components | | | 64,112 | | | | 1.5 | % |
| Automobiles | | | 8,087 | | | | 0.2 | % |
| Banks | | | 484,101 | | | | 11.2 | % |
| Beverages | | | 19,595 | | | | 0.5 | % |
| Biotechnology | | | 163,380 | | | | 3.8 | % |
| Building Products | | | 121,283 | | | | 2.8 | % |
| Capital Markets | | | 65,895 | | | | 1.5 | % |
| Chemicals | | | 176,637 | | | | 4.1 | % |
| Commercial Services & Supplies | | | 30,060 | | | | 0.7 | % |
| Communications Equipment | | | 109,870 | | | | 2.5 | % |
| Construction & Engineering | | | 77,884 | | | | 1.8 | % |
| Containers & Packaging | | | 20,069 | | | | 0.5 | % |
| Diversified Consumer Services | | | 61,440 | | | | 1.4 | % |
| Diversified Telecommunication Services | | | 20,170 | | | | 0.5 | % |
| Electrical Equipment | | | 26,474 | | | | 0.6 | % |
| Electronic Equipment, Instruments & Components | | | 176,963 | | | | 4.1 | % |
| Energy Equipment & Services | | | 94,156 | | | | 2.2 | % |
| Equity Real Estate Investment Trusts (REITs) | | | 163,159 | | | | 3.8 | % |
| Food & Staples Retailing | | | 11,749 | | | | 0.3 | % |
| Food Products | | | 115,035 | | | | 2.7 | % |
| Gas Utilities | | | 23,619 | | | | 0.5 | % |
| Health Care Equipment & Supplies | | | 98,659 | | | | 2.3 | % |
| Health Care Providers & Services | | | 143,875 | | | | 3.3 | % |
| Health Care Technology | | | 37,602 | | | | 0.9 | % |
| Hotels, Restaurants & Leisure | | | 78,073 | | | | 1.8 | % |
| Household Durables | | | 48,156 | | | | 1.1 | % |
| Household Products | | | 22,644 | | | | 0.5 | % |
| Insurance | | | 79,618 | | | | 1.8 | % |
| Interactive Media & Services | | | 24,357 | | | | 0.6 | % |
| Internet & Direct Marketing Retail | | | 9,671 | | | | 0.2 | % |
| IT Services | | | 59,750 | | | | 1.4 | % |
| Leisure Products | | | 31,809 | | | | 0.7 | % |
| Machinery | | | 280,052 | | | | 6.5 | % |
| Marine | | | 22,349 | | | | 0.5 | % |
| Media | | | 11,838 | | | | 0.3 | % |
| Metals & Mining | | | 64,860 | | | | 1.5 | % |
| Mortgage Real Estate Investment Trusts (REITs) | | | 9,482 | | | | 0.2 | % |
| Multi-Utilities | | | 7,460 | | | | 0.2 | % |
| Oil, Gas & Consumable Fuels | | | 125,591 | | | | 2.9 | % |
| Paper & Forest Products | | | 10,053 | | | | 0.2 | % |
| Personal Products | | | 64,999 | | | | 1.5 | % |
| Pharmaceuticals | | | 124,389 | | | | 2.9 | % |
| Professional Services | | | 44,351 | | | | 1.0 | % |
| Real Estate Management & Development | | | 22,280 | | | | 0.5 | % |
| Road & Rail | | | 15,918 | | | | 0.4 | % |
| Semiconductors & Semiconductor Equipment | | | 251,095 | | | | 5.8 | % |
| Software | | | 162,169 | | | | 3.7 | % |
| Specialty Retail | | | 78,105 | | | | 1.8 | % |
| Technology Hardware, Storage & Peripherals | | | 8,278 | | | | 0.2 | % |
| Textiles, Apparel & Luxury Goods | | | 11,019 | | | | 0.3 | % |
| Thrifts & Mortgage Finance | | | 57,261 | | | | 1.3 | % |
| Tobacco | | | 6,682 | | | | 0.2 | % |
| Trading Companies & Distributors | | | 75,579 | | | | 1.7 | % |
| Water Utilities | | | 66,610 | | | | 1.5 | % |
| Wireless Telecommunication Services | | | 6,306 | | | | 0.1 | % |
| Other** | | | 5,886 | | | | 0.1 | % |
| Total | | $ | 4,327,416 | | | | 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, 2023 (unaudited) :: Summary Schedule of Portfolio Investments :: Small-Cap ProFund :: 125
Common Stocks (61.2%)
| | | Percentage
of Net Assets | | | Shares | | | Value | |
| Agree Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 0.3 | % | | | 66 | | | $ | 4,925 | |
| Apellis Pharmaceuticals, Inc.* (Biotechnology)* | | | 0.1 | % | | | 71 | | | | 3,744 | |
| Applied Industrial Technologies, Inc. (Trading Companies & Distributors) | | | 0.1 | % | | | 29 | | | | 4,154 | |
| Asbury Automotive Group, Inc.* (Specialty Retail)* | | | 0.1 | % | | | 17 | | | | 3,739 | |
| Atkore, Inc.* (Electrical Equipment)* | | | 0.1 | % | | | 31 | | | | 4,037 | |
| Celsius Holdings, Inc.* (Beverages)* | | | 0.1 | % | | | 42 | | | | 4,213 | |
| ChampionX Corp. (Energy Equipment & Services) | | | 0.3 | % | | | 151 | | | | 4,987 | |
| Chart Industries, Inc.* (Machinery)* | | | 0.1 | % | | | 32 | | | | 4,287 | |
| Chord Energy Corp. (Oil, Gas & Consumable Fuels) | | | 0.1 | % | | | 31 | | | | 4,443 | |
| Civitas Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 0.1 | % | | | 56 | | | | 3,727 | |
| Commercial Metals Co. (Metals & Mining) | | | 0.2 | % | | | 88 | | | | 4,776 | |
| Crocs, Inc.* (Textiles, Apparel & Luxury Goods)* | | | 0.2 | % | | | 46 | | | | 5,602 | |
| EMCOR Group, Inc. (Construction & Engineering) | | | 0.2 | % | | | 36 | | | | 5,337 | |
| Evoqua Water Technologies Corp.* (Machinery)* | | | 0.1 | % | | | 89 | | | | 4,317 | |
| ExlService Holdings, Inc.* (IT Services)* | | | 0.1 | % | | | 24 | | | | 4,093 | |
| Exponent, Inc. (Professional Services) | | | 0.1 | % | | | 38 | | | | 3,896 | |
| Fluor Corp.* (Construction & Engineering)* | | | 0.1 | % | | | 107 | | | | 3,932 | |
| Fox Factory Holding Corp.* (Auto Components)* | | | 0.1 | % | | | 32 | | | | 3,778 | |
| Glacier Bancorp, Inc. (Banks) | | | 0.1 | % | | | 84 | | | | 3,829 | |
| Halozyme Therapeutics, Inc.* (Biotechnology)* | | | 0.3 | % | | | 100 | | | | 5,178 | |
| HealthEquity, Inc.* (Health Care Providers & Services)* | | | 0.1 | % | | | 62 | | | | 3,773 | |
| Helmerich & Payne, Inc. (Energy Equipment & Services) | | | 0.1 | % | | | 77 | | | | 3,731 | |
| Houlihan Lokey, Inc. (Capital Markets) | | | 0.1 | % | | | 38 | | | | 3,764 | |
| Inspire Medical Systems, Inc.* (Health Care Technology)* | | | 0.3 | % | | | 21 | | | | 5,313 | |
| Iridium Communications, Inc.* (Diversified Telecommunication Services)* | | | 0.2 | % | | | 94 | | | | 5,625 | |
| Karuna Therapeutics, Inc.* (Biotechnology)* | | | 0.1 | % | | | 23 | | | | 4,587 | |
| Kinsale Capital Group, Inc. (Insurance) | | | 0.1 | % | | | 16 | | | | 4,454 | |
| Light & Wonder, Inc.* (Hotels, Restaurants & Leisure)* | | | 0.2 | % | | | 71 | | | | 4,633 | |
| Matador Resources Co. (Oil, Gas & Consumable Fuels) | | | 0.2 | % | | | 85 | | | | 5,624 | |
| Medpace Holdings, Inc.* (Life Sciences Tools & Services)* | | | 0.1 | % | | | 19 | | | | 4,201 | |
| Murphy Oil Corp. (Oil, Gas & Consumable Fuels) | | | 0.2 | % | | | 111 | | | | 4,841 | |
| Murphy USA, Inc. (Specialty Retail) | | | 0.1 | % | | | 16 | | | | 4,351 | |
| Novanta, Inc.* (Electronic Equipment, Instruments & Components)* | | | 0.1 | % | | | 27 | | | | 4,359 | |
| Old National Bancorp (Banks) | | | 0.1 | % | | | 221 | | | | 3,867 | |
| RBC Bearings, Inc.* (Machinery)* | | | 0.2 | % | | | 21 | | | | 5,124 | |
| RLI Corp. (Insurance) | | | 0.1 | % | | | 29 | | | | 3,841 | |
| Ryman Hospitality Properties, Inc.—Class I (Equity Real Estate Investment Trusts (REITs)) | | | 0.1 | % | | | 41 | | | | 3,807 | |
| Saia, Inc.* (Road & Rail)* | | | 0.2 | % | | | 20 | | | | 5,455 | |
| Selective Insurance Group, Inc. (Insurance) | | | 0.1 | % | | | 45 | | | | 4,275 | |
| Shockwave Medical, Inc.* (Health Care Equipment & Supplies)* | | | 0.2 | % | | | 27 | | | | 5,074 | |
| Silicon Laboratories, Inc.* (Semiconductors & Semiconductor Equipment)* | | | 0.1 | % | | | 25 | | | | 3,922 | |
| SouthState Corp. (Banks) | | | 0.1 | % | | | 56 | | | | 4,457 | |
| STAG Industrial, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 0.2 | % | | | 136 | | | | 4,841 | |
| Synaptics, Inc.* (Semiconductors & Semiconductor Equipment)* | | | 0.1 | % | | | 30 | | | | 3,750 | |
| Texas Roadhouse, Inc. (Hotels, Restaurants & Leisure) | | | 0.2 | % | | | 50 | | | | 5,022 | |
| The Ensign Group, Inc. (Health Care Providers & Services) | | | 0.1 | % | | | 41 | | | | 3,824 | |
| UFP Industries, Inc. (Building Products) | | | 0.1 | % | | | 45 | | | | 4,209 | |
| United Bankshares, Inc. (Banks) | | | 0.1 | % | | | 98 | | | | 3,939 | |
| Valley National Bancorp (Banks) | | | 0.1 | % | | | 324 | | | | 3,848 | |
| Other Common Stocks(a) | | | 54.3 | % | | | 88,294 | | | | 1,663,667 | |
TOTAL COMMON STOCKS
(Cost $1,004,860) | | | | | | | | | | | 1,879,172 | |
Right(NM)
| Zogenix, Inc. CVR;*+(b) (Pharmaceuticals) | | | 40 | | | | 27 | |
TOTAL RIGHT
(Cost $—) | | | | | | | 27 | |
See accompanying notes to the financial statements.
126 :: Small-Cap ProFund :: Summary Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Trust (0.0%)
| | | Interest
Units | | | Value | |
| Ferroglobe Representation and Warranty Insurance*+ (Metals & Mining) | | | 290 | | | $ | — | |
TOTAL TRUST
(Cost $—) | | | | | | | — | |
Repurchase Agreements(c)(d) (41.6%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $1,276,149 | | $ | 1,276,000 | | | $ | 1,276,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $1,276,000) | | | | | | | 1,276,000 | |
Collateral for Securities Loaned(e) (0.5%)
| | | Shares | | | Value | |
| Invesco Government & Agency Portfolio—Institutional Shares, 4.32%(f) | | | 16,510 | | | $ | 16,510 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $16,510) | | | | | | | 16,510 | |
TOTAL INVESTMENT SECURITIES
(Cost $2,297,370)—103.3% | | | | | | | 3,171,709 | |
| Net other assets (liabilities)—(3.3)% | | | | | | | (103,450 | ) |
| NET ASSETS—100.0% | | | | | | $ | 3,068,259 | |
| * | Non-income producing security. |
| + | These securities were fair valued based on procedures approved by the Board of Trustees. As of January 31, 2023, these securities represented less than 0.005% of the net assets of the Fund. |
| (a) | All or part of one or more of the securities in this group was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $16,172. |
| (b) | On March 7, 2022, UCB SA acquired Zogenix Inc. As part of the acquisition, shareholders of Zogenix Inc. are entitled to a CVR per share of Zogenix Inc. held. The CVR has a potential cash payment of $2.00 upon EU approval by December 31, 2023, of FINTEPLA® as an orphan medicine for treatment of Lennox-Gastaut syndrome (LGS). Subsequent to the date of this report, it was determined that the required contingencies of this CVR had been satisfied. Consequently, each outstanding CVR was retired in exchange for a $2.00 cash payment, effective February 24, 2023. |
| (c) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (d) | 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, 2023, the aggregate amount held in a segregated account was $183,000. |
| (e) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (f) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
| CVR | Contingent Value Rights |
| 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) | |
| Russell 2000 Index | | Goldman Sachs International | | 2/27/23 | | | 4.73 | % | | $ | 936,991 | | | $ | 12,213 | |
| Russell 2000 Index | | UBS AG | | 2/27/23 | | | 4.33 | % | | | 253,085 | | | | 2,580 | |
| | | | | | | | | | | $ | 1,190,076 | | | $ | 14,793 | |
| (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, 2023, 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, 2023 (unaudited) :: Summary Schedule of Portfolio Investments :: Small-Cap ProFund :: 127
Small-Cap ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 18,581 | | | | 0.6 | % |
| Air Freight & Logistics | | | 7,724 | | | | 0.3 | % |
| Airlines | | | 5,933 | | | | 0.2 | % |
| Auto Components | | | 27,345 | | | | 0.9 | % |
| Automobiles | | | 3,210 | | | | 0.1 | % |
| Banks | | | 170,431 | | | | 5.5 | % |
| Beverages | | | 10,843 | | | | 0.4 | % |
| Biotechnology | | | 134,518 | | | | 4.4 | % |
| Building Products | | | 25,114 | | | | 0.8 | % |
| Capital Markets | | | 31,128 | | | | 1.0 | % |
| Chemicals | | | 38,822 | | | | 1.3 | % |
| Commercial Services & Supplies | | | 26,077 | | | | 0.8 | % |
| Communications Equipment | | | 16,768 | | | | 0.5 | % |
| Construction & Engineering | | | 30,150 | | | | 1.0 | % |
| Construction Materials | | | 3,261 | | | | 0.1 | % |
| Consumer Discretionary Products | | | 516 | | | | NM | |
| Consumer Finance | | | 11,819 | | | | 0.4 | % |
| Containers & Packaging | | | 6,210 | | | | 0.2 | % |
| Distributors | | | 399 | | | | NM | |
| Diversified Consumer Services | | | 20,402 | | | | 0.7 | % |
| Diversified Financial Services | | | 5,970 | | | | 0.2 | % |
| Diversified Telecommunication Services | | | 12,085 | | | | 0.4 | % |
| Electric Utilities | | | 12,977 | | | | 0.4 | % |
| Electrical Equipment | | | 27,145 | | | | 0.9 | % |
| Electronic Equipment, Instruments & Components | | | 44,402 | | | | 1.4 | % |
| Energy Equipment & Services | | | 40,684 | | | | 1.3 | % |
| Entertainment | | | 5,730 | | | | 0.2 | % |
| Equity Real Estate Investment Trusts (REITs) | | | 112,367 | | | | 3.6 | % |
| Food & Staples Retailing | | | 11,069 | | | | 0.4 | % |
| Food Products | | | 21,350 | | | | 0.7 | % |
| Gas Utilities | | | 19,195 | | | | 0.6 | % |
| Health Care Equipment & Supplies | | | 64,304 | | | | 2.1 | % |
| Health Care Providers & Services | | | 47,416 | | | | 1.5 | % |
| Health Care Technology | | | 16,612 | | | | 0.5 | % |
| Hotels, Restaurants & Leisure | | | 47,746 | | | | 1.6 | % |
| Household Durables | | | 32,052 | | | | 1.0 | % |
| Household Products | | | 5,083 | | | | 0.2 | % |
| Independent Power and Renewable Electricity Producers | | | 8,612 | | | | 0.3 | % |
| Industrial Conglomerates | | | 453 | | | | NM | |
| Insurance | | | 38,952 | | | | 1.3 | % |
| Interactive Media & Services | | | 12,966 | | | | 0.4 | % |
| Internet & Direct Marketing Retail | | | 7,991 | | | | 0.3 | % |
| IT Services | | | 38,752 | | | | 1.3 | % |
| Leisure Products | | | 11,853 | | | | 0.4 | % |
| Life Sciences Tools & Services | | | 14,204 | | | | 0.5 | % |
| Machinery | | | 74,782 | | | | 2.4 | % |
| Marine | | | 4,634 | | | | 0.2 | % |
| Media | | | 17,271 | | | | 0.6 | % |
| Metals & Mining | | | 31,267 | | | | 1.0 | % |
| Mortgage Real Estate Investment Trusts (REITs) | | | 24,021 | | | | 0.8 | % |
| Multiline Retail | | | 1,524 | | | | NM | |
| Multi-Utilities | | | 8,967 | | | | 0.3 | % |
| Oil, Gas & Consumable Fuels | | | 83,089 | | | | 2.7 | % |
| Paper & Forest Products | | | 3,820 | | | | 0.1 | % |
| Personal Products | | | 13,918 | | | | 0.5 | % |
| Pharmaceuticals | | | 34,350 | | | | 1.1 | % |
| Professional Services | | | 29,609 | | | | 1.0 | % |
| Real Estate Management & Development | | | 13,078 | | | | 0.4 | % |
| Road & Rail | | | 11,790 | | | | 0.4 | % |
| Semiconductors & Semiconductor Equipment | | | 52,721 | | | | 1.7 | % |
| Software | | | 85,370 | | | | 2.8 | % |
| Specialty Retail | | | 43,880 | | | | 1.4 | % |
| Technology Hardware, Storage & Peripherals | | | 7,265 | | | | 0.2 | % |
| Textiles, Apparel & Luxury Goods | | | 13,732 | | | | 0.4 | % |
| Thrifts & Mortgage Finance | | | 27,842 | | | | 0.9 | % |
| Tobacco | | | 2,767 | | | | 0.1 | % |
| Trading Companies & Distributors | | | 32,678 | | | | 1.1 | % |
| Water Utilities | | | 8,913 | | | | 0.3 | % |
| Wireless Telecommunication Services | | | 2,690 | | | | 0.1 | % |
| Other** | | | 1,189,060 | | | | 38.8 | % |
| Total | | $ | 3,068,259 | | | | 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.
128 :: Small-Cap Value ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks (100.7%)
| | | Shares | | | Value | |
| 3D Systems Corp.* (Technology Hardware, Storage & Peripherals) | | | 2,099 | | | $ | 22,795 | |
| 8x8, Inc.* (Software) | | | 961 | | | | 4,526 | |
| AAR Corp.* (Aerospace & Defense) | | | 530 | | | | 27,263 | |
| Aaron's Co., Inc. (The) (Specialty Retail) | | | 491 | | | | 7,193 | |
| Abercrombie & Fitch Co.* (Specialty Retail) | | | 793 | | | | 22,965 | |
| ABM Industries, Inc. (Commercial Services & Supplies) | | | 1,056 | | | | 49,537 | |
| Academy Sports & Outdoors, Inc. (Leisure Products) | | | 674 | | | | 39,375 | |
| Acadia Realty Trust (Equity Real Estate Investment Trusts (REITs)) | | | 1,519 | | | | 23,590 | |
| Adeia, Inc. (Software) | | | 1,682 | | | | 18,418 | |
| ADTRAN Holdings, Inc. (Communications Equipment) | | | 349 | | | | 6,586 | |
| AdvanSix, Inc. (Chemicals) | | | 441 | | | | 19,069 | |
| Agiliti, Inc.* (Health Care Providers & Services) | | | 293 | | | | 5,406 | |
| Agree Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 441 | | | | 32,912 | |
| Alamo Group, Inc. (Machinery) | | | 45 | | | | 7,041 | |
| Alexander & Baldwin, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,159 | | | | 23,203 | |
| Allegiant Travel Co.* (Airlines) | | | 250 | | | | 21,507 | |
| Ambac Financial Group, Inc.* (Insurance) | | | 721 | | | | 12,012 | |
| AMC Networks, Inc.*—Class A (Media) | | | 451 | | | | 8,348 | |
| American Assets Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 833 | | | | 23,707 | |
| American Axle & Manufacturing Holdings, Inc.* (Auto Components) | | | 1,835 | | | | 16,276 | |
| American Eagle Outfitters, Inc. (Specialty Retail) | | | 2,787 | | | | 44,981 | |
| American Equity Investment Life Holding Co. (Insurance) | | | 530 | | | | 25,255 | |
| American States Water Co. (Water Utilities) | | | 186 | | | | 17,516 | |
| American Woodmark Corp.* (Building Products) | | | 270 | | | | 15,468 | |
| America's Car-Mart, Inc.* (Specialty Retail) | | | 92 | | | | 7,925 | |
| Ameris Bancorp (Banks) | | | 407 | | | | 19,194 | |
| AMERISAFE, Inc. (Insurance) | | | 140 | | | | 7,711 | |
| AngioDynamics, Inc.* (Health Care Equipment & Supplies) | | | 625 | | | | 8,138 | |
| ANI Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 93 | | | | 4,160 | |
| Anika Therapeutics, Inc.* (Health Care Equipment & Supplies) | | | 112 | | | | 3,473 | |
| Apogee Enterprises, Inc. (Building Products) | | | 150 | | | | 7,026 | |
| Apollo Commercial Real Estate Finance, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 2,073 | | | | 25,229 | |
| Apollo Medical Holdings, Inc.*(a) (Health Care Providers & Services) | | | 634 | | | | 22,596 | |
| ArcBest Corp. (Road & Rail) | | | 394 | | | | 32,879 | |
| Archrock, Inc. (Energy Equipment & Services) | | | 2,139 | | | | 21,198 | |
| Arconic Corp.* (Metals & Mining) | | | 1,625 | | | | 38,203 | |
| Arcosa, Inc. (Construction & Engineering) | | | 262 | | | | 15,529 | |
| Arlo Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 710 | | | | 2,663 | |
| Armada Hoffler Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 381 | | | | 4,831 | |
| Artivion, Inc.* (Health Care Equipment & Supplies) | | | 647 | | | | 8,437 | |
| Asbury Automotive Group, Inc.* (Specialty Retail) | | | 196 | | | | 43,120 | |
| Assured Guaranty, Ltd. (Insurance) | | | 468 | | | | 29,296 | |
| Astec Industries, Inc. (Machinery) | | | 364 | | | | 16,067 | |
| ATI, Inc.* (Metals & Mining) | | | 785 | | | | 28,566 | |
| Atlas Air Worldwide Holdings, Inc.* (Air Freight & Logistics) | | | 227 | | | | 23,202 | |
| Avanos Medical, Inc.* (Health Care Equipment & Supplies) | | | 743 | | | | 22,766 | |
| Avid Bioservices, Inc.* (Biotechnology) | | | 307 | | | | 4,860 | |
| Avid Technology, Inc.* (Technology Hardware, Storage & Peripherals) | | | 219 | | | | 6,638 | |
| Avista Corp. (Multi-Utilities) | | | 1,182 | | | | 47,162 | |
| Axos Financial, Inc.* (Thrifts & Mortgage Finance) | | | 395 | | | | 19,007 | |
| AZZ, Inc. (Electrical Equipment) | | | 400 | | | | 16,992 | |
| B Riley Financial, Inc. (Capital Markets) | | | 132 | | | | 5,640 | |
| B&G Foods, Inc. (Food Products) | | | 1,147 | | | | 16,081 | |
| Banc of California, Inc. (Banks) | | | 895 | | | | 15,591 | |
| BankUnited, Inc. (Banks) | | | 1,239 | | | | 46,636 | |
| Barnes Group, Inc. (Machinery) | | | 807 | | | | 35,719 | |
| Bed Bath & Beyond, Inc.*(a) (Specialty Retail) | | | 753 | | | | 2,123 | |
| Benchmark Electronics, Inc. (Electronic Equipment, Instruments & Components) | | | 561 | | | | 15,702 | |
| Berkshire Hills Bancorp, Inc. (Banks) | | | 302 | | | | 9,377 | |
| Big Lots, Inc. (Multiline Retail) | | | 465 | | | | 7,607 | |
| BJ's Restaurants, Inc.* (Hotels, Restaurants & Leisure) | | | 377 | | | | 11,902 | |
| Bloomin' Brands, Inc. (Hotels, Restaurants & Leisure) | | | 590 | | | | 14,308 | |
| Boot Barn Holdings, Inc.* (Specialty Retail) | | | 186 | | | | 15,529 | |
| Brady Corp.—Class A (Commercial Services & Supplies) | | | 260 | | | | 13,902 | |
| Brandywine Realty Trust (Equity Real Estate Investment Trusts (REITs)) | | | 2,746 | | | | 18,014 | |
| Bread Financial Holdings, Inc. (IT Services) | | | 801 | | | | 32,866 | |
| Brightsphere Investment Group, Inc. (Capital Markets) | | | 250 | | | | 5,863 | |
| Brinker International, Inc.* (Hotels, Restaurants & Leisure) | | | 705 | | | | 27,819 | |
| Bristow Group, Inc.* (Energy Equipment & Services) | | | 378 | | | | 11,544 | |
| Brookline Bancorp, Inc. (Banks) | | | 1,400 | | | | 18,312 | |
| Calavo Growers, Inc. (Food Products) | | | 285 | | | | 9,134 | |
| Caleres, Inc. (Specialty Retail) | | | 581 | | | | 15,118 | |
| California Water Service Group (Water Utilities) | | | 332 | | | | 20,308 | |
| Callon Petroleum Co.* (Oil, Gas & Consumable Fuels) | | | 408 | | | | 17,360 | |
| Capitol Federal Financial, Inc. (Thrifts & Mortgage Finance) | | | 2,067 | | | | 17,301 | |
| Cardiovascular Systems, Inc.* (Health Care Equipment & Supplies) | | | 673 | | | | 9,382 | |
| CareTrust REIT, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 590 | | | | 12,225 | |
| Carpenter Technology Corp. (Metals & Mining) | | | 775 | | | | 37,425 | |
| Centerspace (Equity Real Estate Investment Trusts (REITs)) | | | 240 | | | | 16,229 | |
| Central Garden & Pet Co.* (Household Products) | | | 80 | | | | 3,355 | |
| Central Garden & Pet Co.*—Class A (Household Products) | | | 346 | | | | 13,712 | |
| Central Pacific Financial Corp. (Banks) | | | 434 | | | | 9,808 | |
| Century Aluminum Co.* (Metals & Mining) | | | 821 | | | | 9,228 | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Small-Cap Value ProFund :: 129
Common Stocks, continued
| | | Shares | | | Value | |
| Century Communities, Inc. (Household Durables) | | | 451 | | | $ | 27,601 | |
| Cerence, Inc.* (Software) | | | 628 | | | | 15,399 | |
| CEVA, Inc.* (Semiconductors & Semiconductor Equipment) | | | 143 | | | | 4,736 | |
| Chatham Lodging Trust (Equity Real Estate Investment Trusts (REITs)) | | | 780 | | | | 11,084 | |
| Chesapeake Utilities Corp. (Gas Utilities) | | | 93 | | | | 11,725 | |
| Chico's FAS, Inc.* (Specialty Retail) | | | 1,999 | | | | 10,535 | |
| Chuy's Holdings, Inc.* (Hotels, Restaurants & Leisure) | | | 135 | | | | 4,621 | |
| Cinemark Holdings, Inc.* (Entertainment) | | | 1,715 | | | | 20,478 | |
| CIRCOR International, Inc.* (Machinery) | | | 326 | | | | 9,014 | |
| Clearwater Paper Corp.* (Paper & Forest Products) | | | 270 | | | | 10,425 | |
| Cogent Communications Holdings, Inc. (Diversified Telecommunication Services) | | | 279 | | | | 19,131 | |
| Coherus Biosciences, Inc.* (Biotechnology) | | | 508 | | | | 4,308 | |
| Cohu, Inc.* (Semiconductors & Semiconductor Equipment) | | | 259 | | | | 9,345 | |
| Columbia Banking System, Inc. (Banks) | | | 603 | | | | 18,639 | |
| Community Bank System, Inc. (Banks) | | | 370 | | | | 21,353 | |
| Community Health Systems, Inc. (Health Care Providers & Services) | | | 2,007 | | | | 10,477 | |
| Community Healthcare Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 147 | | | | 6,303 | |
| Compass Minerals International, Inc. (Metals & Mining) | | | 545 | | | | 25,430 | |
| Computer Programs and Systems, Inc.* (Health Care Technology) | | | 107 | | | | 3,144 | |
| Comtech Telecommunications Corp. (Communications Equipment) | | | 445 | | | | 7,058 | |
| CONMED Corp. (Health Care Equipment & Supplies) | | | 250 | | | | 23,940 | |
| Consensus Cloud Solutions, Inc.* (Software) | | | 91 | | | | 5,348 | |
| Consolidated Communications Holdings, Inc.* (Diversified Telecommunication Services) | | | 1,181 | | | | 5,137 | |
| Core Laboratories N.V. (Energy Equipment & Services) | | | 387 | | | | 9,907 | |
| CoreCivic, Inc.* (Equity Real Estate Investment Trusts (REITs)) | | | 1,836 | | | | 19,535 | |
| Corsair Gaming, Inc.* (Technology Hardware, Storage & Peripherals) | | | 269 | | | | 4,231 | |
| CorVel Corp.* (Health Care Providers & Services) | | | 50 | | | | 8,908 | |
| Cushman & Wakefield PLC* (Real Estate Management & Development) | | | 2,599 | | | | 37,504 | |
| Customers Bancorp, Inc.* (Banks) | | | 245 | | | | 7,441 | |
| Cutera, Inc.* (Health Care Equipment & Supplies) | | | 84 | | | | 2,926 | |
| Dave & Buster's Entertainment, Inc.* (Hotels, Restaurants & Leisure) | | | 296 | | | | 12,832 | |
| Deluxe Corp. (Commercial Services & Supplies) | | | 691 | | | | 13,813 | |
| Designer Brands, Inc. (Specialty Retail) | | | 815 | | | | 8,403 | |
| DiamondRock Hospitality Co. (Equity Real Estate Investment Trusts (REITs)) | | | 3,349 | | | | 32,251 | |
| Digital Turbine, Inc.* (Software) | | | 518 | | | | 8,992 | |
| Dine Brands Global, Inc. (Hotels, Restaurants & Leisure) | | | 97 | | | | 7,499 | |
| DMC Global, Inc.* (Energy Equipment & Services) | | | 295 | | | | 6,708 | |
| Donnelley Financial Solutions, Inc.* (Capital Markets) | | | 201 | | | | 9,168 | |
| Douglas Elliman, Inc. (Real Estate Management & Development) | | | 1,081 | | | | 5,037 | |
| Dril-Quip, Inc.* (Energy Equipment & Services) | | | 253 | | | | 7,770 | |
| DXP Enterprises, Inc.* (Trading Companies & Distributors) | | | 253 | | | | 7,666 | |
| Eagle Bancorp, Inc. (Banks) | | | 510 | | | | 24,220 | |
| Eagle Pharmaceuticals, Inc.* (Biotechnology) | | | 53 | | | | 1,799 | |
| Easterly Government Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,453 | | | | 23,597 | |
| Ebix, Inc. (Software) | | | 379 | | | | 7,224 | |
| Edgewell Personal Care Co. (Personal Products) | | | 431 | | | | 18,473 | |
| El Pollo Loco Holdings, Inc. (Hotels, Restaurants & Leisure) | | | 314 | | | | 3,853 | |
| Ellington Financial, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 917 | | | | 12,590 | |
| Elme Communities (Equity Real Estate Investment Trusts (REITs)) | | | 1,399 | | | | 26,861 | |
| Embecta Corp. (Health Care Equipment & Supplies) | | | 488 | | | | 12,878 | |
| Emergent BioSolutions, Inc.* (Biotechnology) | | | 711 | | | | 9,378 | |
| Employers Holdings, Inc. (Insurance) | | | 211 | | | | 9,257 | |
| Enanta Pharmaceuticals, Inc.* (Biotechnology) | | | 192 | | | | 10,249 | |
| Encore Capital Group, Inc.* (Consumer Finance) | | | 377 | | | | 21,006 | |
| Enerpac Tool Group Corp. (Machinery) | | | 308 | | | | 8,174 | |
| Enhabit, Inc.* (Health Care Providers & Services) | | | 793 | | | | 12,180 | |
| Enova International, Inc.* (Consumer Finance) | | | 504 | | | | 23,008 | |
| ePlus, Inc.* (Electronic Equipment, Instruments & Components) | | | 225 | | | | 11,201 | |
| ESCO Technologies, Inc. (Machinery) | | | 135 | | | | 13,289 | |
| Essential Properties Realty Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 2,275 | | | | 57,966 | |
| EVERTEC, Inc. (IT Services) | | | 365 | | | | 13,483 | |
| Exponent, Inc. (Professional Services) | | | 251 | | | | 25,737 | |
| EZCORP, Inc.*—Class A (Consumer Finance) | | | 859 | | | | 7,825 | |
| FARO Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 300 | | | | 8,244 | |
| FB Financial Corp. (Banks) | | | 285 | | | | 10,705 | |
| First Bancorp (Banks) | | | 227 | | | | 9,046 | |
| First Commonwealth Financial Corp. (Banks) | | | 674 | | | | 9,915 | |
| First Financial Bancorp (Banks) | | | 682 | | | | 17,275 | |
| First Hawaiian, Inc. (Banks) | | | 980 | | | | 26,891 | |
| FormFactor, Inc.* (Semiconductors & Semiconductor Equipment) | | | 1,224 | | | | 34,443 | |
| Forrester Research, Inc.* (Professional Services) | | | 180 | | | | 6,671 | |
| Four Corners Property Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 442 | | | | 12,712 | |
| Franklin BSP Realty Trust, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 1,319 | | | | 19,126 | |
| Franklin Street Properties Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 1,466 | | | | 4,515 | |
See accompanying notes to the financial statements.
130 :: Small-Cap Value ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Fresh Del Monte Produce, Inc. (Food Products) | | | 488 | | | $ | 13,957 | |
| Frontdoor, Inc.* (Diversified Consumer Services) | | | 625 | | | | 16,987 | |
| Fulgent Genetics, Inc.* (Health Care Providers & Services) | | | 173 | | | | 5,844 | |
| FutureFuel Corp. (Chemicals) | | | 178 | | | | 1,650 | |
| Gannett Co., Inc.* (Media) | | | 2,333 | | | | 5,273 | |
| Genesco, Inc.* (Specialty Retail) | | | 201 | | | | 9,706 | |
| Gentherm, Inc.* (Auto Components) | | | 208 | | | | 15,481 | |
| Genworth Financial, Inc.* (Insurance) | | | 7,936 | | | | 43,806 | |
| Getty Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 248 | | | | 9,035 | |
| Gibraltar Industries, Inc.* (Building Products) | | | 491 | | | | 26,303 | |
| G-III Apparel Group, Ltd.* (Textiles, Apparel & Luxury Goods) | | | 682 | | | | 11,539 | |
| Glaukos Corp.* (Health Care Equipment & Supplies) | | | 251 | | | | 12,312 | |
| Global Net Lease, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,661 | | | | 24,832 | |
| GMS, Inc.* (Trading Companies & Distributors) | | | 678 | | | | 40,218 | |
| Gogo, Inc.* (Wireless Telecommunication Services) | | | 363 | | | | 6,088 | |
| Golden Entertainment, Inc.* (Hotels, Restaurants & Leisure) | | | 138 | | | | 5,451 | |
| Granite Construction, Inc. (Construction & Engineering) | | | 701 | | | | 29,848 | |
| Granite Point Mortgage Trust, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 836 | | | | 5,584 | |
| Green Dot Corp.*—Class A (Consumer Finance) | | | 748 | | | | 13,524 | |
| Green Plains, Inc.* (Oil, Gas & Consumable Fuels) | | | 949 | | | | 32,997 | |
| Group 1 Automotive, Inc. (Specialty Retail) | | | 234 | | | | 50,040 | |
| Guess?, Inc.(a) (Specialty Retail) | | | 486 | | | | 11,261 | |
| H.B. Fuller Co. (Chemicals) | | | 308 | | | | 21,283 | |
| Harsco Corp.* (Machinery) | | | 1,269 | | | | 10,076 | |
| Haverty Furniture Cos., Inc. (Specialty Retail) | | | 106 | | | | 3,702 | |
| Hawaiian Holdings, Inc.* (Airlines) | | | 824 | | | | 10,152 | |
| Haynes International, Inc. (Metals & Mining) | | | 65 | | | | 3,620 | |
| HCI Group, Inc. (Insurance) | | | 112 | | | | 5,624 | |
| Healthcare Services Group, Inc. (Commercial Services & Supplies) | | | 1,186 | | | | 15,975 | |
| HealthStream, Inc.* (Health Care Technology) | | | 140 | | | | 3,385 | |
| Heartland Express, Inc. (Road & Rail) | | | 263 | | | | 4,424 | |
| Heidrick & Struggles International, Inc. (Professional Services) | | | 318 | | | | 9,782 | |
| Helix Energy Solutions Group, Inc.* (Energy Equipment & Services) | | | 2,280 | | | | 18,080 | |
| Helmerich & Payne, Inc. (Energy Equipment & Services) | | | 711 | | | | 34,442 | |
| Hersha Hospitality Trust (Equity Real Estate Investment Trusts (REITs)) | | | 528 | | | | 4,858 | |
| Heska Corp.* (Health Care Equipment & Supplies) | | | 162 | | | | 14,489 | |
| Hibbett, Inc. (Specialty Retail) | | | 96 | | | | 6,371 | |
| Hilltop Holdings, Inc. (Banks) | | | 731 | | | | 23,904 | |
| HNI Corp. (Commercial Services & Supplies) | | | 661 | | | | 21,000 | |
| HomeStreet, Inc. (Banks) | | | 285 | | | | 7,857 | |
| Hope Bancorp, Inc. (Banks) | | | 1,914 | | | | 24,671 | |
| Horace Mann Educators Corp. (Insurance) | | | 654 | | | | 23,289 | |
| Hub Group, Inc.*—Class A (Air Freight & Logistics) | | | 289 | | | | 24,643 | |
| Hudson Pacific Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 2,048 | | | | 23,327 | |
| Ichor Holdings, Ltd.* (Semiconductors & Semiconductor Equipment) | | | 458 | | | | 15,480 | |
| Independent Bank Corp. (Banks) | | | 350 | | | | 27,892 | |
| Independent Bank Group, Inc. (Banks) | | | 568 | | | | 34,818 | |
| Industrial Logistics Properties Trust (Equity Real Estate Investment Trusts (REITs)) | | | 1,049 | | | | 4,626 | |
| Inogen, Inc.* (Health Care Equipment & Supplies) | | | 364 | | | | 8,492 | |
| Insight Enterprises, Inc.* (Electronic Equipment, Instruments & Components) | | | 486 | | | | 54,782 | |
| Installed Building Products, Inc. (Household Durables) | | | 124 | | | | 13,651 | |
| Insteel Industries, Inc. (Building Products) | | | 167 | | | | 5,008 | |
| Integer Holdings Corp.* (Health Care Equipment & Supplies) | | | 527 | | | | 34,682 | |
| Interface, Inc. (Commercial Services & Supplies) | | | 930 | | | | 10,583 | |
| Invesco Mortgage Capital, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 310 | | | | 4,554 | |
| iRobot Corp.* (Household Durables) | | | 434 | | | | 19,530 | |
| Ironwood Pharmaceuticals, Inc.* (Biotechnology) | | | 788 | | | | 9,078 | |
| iStar, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,389 | | | | 12,890 | |
| Itron, Inc.* (Electronic Equipment, Instruments & Components) | | | 722 | | | | 41,493 | |
| James River Group Holdings, Ltd. (Insurance) | | | 600 | | | | 13,596 | |
| John B Sanfilippo & Son, Inc. (Food Products) | | | 53 | | | | 4,479 | |
| John Bean Technologies Corp. (Machinery) | | | 510 | | | | 56,983 | |
| Kaman Corp.—Class A (Trading Companies & Distributors) | | | 451 | | | | 11,374 | |
| KAR Auction Services, Inc.* (Commercial Services & Supplies) | | | 1,745 | | | | 25,407 | |
| Kelly Services, Inc.—Class A (Professional Services) | | | 556 | | | | 10,064 | |
| KKR Real Estate Finance Trust, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 917 | | | | 14,608 | |
| Knowles Corp.* (Electronic Equipment, Instruments & Components) | | | 1,454 | | | | 27,960 | |
| Kontoor Brands, Inc. (Textiles, Apparel & Luxury Goods) | | | 789 | | | | 37,683 | |
| Koppers Holdings, Inc. (Chemicals) | | | 336 | | | | 11,629 | |
| Korn Ferry (Professional Services) | | | 445 | | | | 24,025 | |
| La-Z-Boy, Inc. (Household Durables) | | | 687 | | | | 19,531 | |
| LCI Industries (Auto Components) | | | 204 | | | | 22,893 | |
| LeMaitre Vascular, Inc. (Health Care Equipment & Supplies) | | | 96 | | | | 4,529 | |
| LendingTree, Inc.* (Thrifts & Mortgage Finance) | | | 173 | | | | 6,861 | |
| Leslie's, Inc.* (Specialty Retail) | | | 830 | | | | 12,857 | |
| LGI Homes, Inc.* (Household Durables) | | | 327 | | | | 37,229 | |
| Ligand Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 117 | | | | 8,155 | |
| Liquidity Services, Inc.* (Internet & Direct Marketing Retail) | | | 195 | | | | 2,923 | |
| LivePerson, Inc.* (Software) | | | 536 | | | | 6,904 | |
| LiveRamp Holdings, Inc.* (Software) | | | 476 | | | | 12,738 | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Small-Cap Value ProFund :: 131
Common Stocks, continued
| | | Shares | | | Value | |
| LTC Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 227 | | | $ | 8,660 | |
| LXP Industrial Trust (Equity Real Estate Investment Trusts (REITs)) | | | 4,411 | | | | 50,947 | |
| M.D.C Holdings, Inc. (Household Durables) | | | 912 | | | | 34,437 | |
| M/I Homes, Inc.* (Household Durables) | | | 437 | | | | 26,133 | |
| MarineMax, Inc.* (Specialty Retail) | | | 346 | | | | 10,813 | |
| Masterbrand, Inc.* (Building Products) | | | 2,067 | | | | 19,016 | |
| Materion Corp. (Metals & Mining) | | | 142 | | | | 12,816 | |
| Mativ Holdings, Inc. (Paper & Forest Products) | | | 880 | | | | 24,253 | |
| Matthews International Corp.—Class A (Commercial Services & Supplies) | | | 488 | | | | 18,076 | |
| Mercer International, Inc. (Paper & Forest Products) | | | 370 | | | | 4,710 | |
| Mercury General Corp. (Insurance) | | | 425 | | | | 15,185 | |
| Meritage Homes Corp.* (Household Durables) | | | 583 | | | | 62,784 | |
| Mesa Laboratories, Inc. (Health Care Equipment & Supplies) | | | 32 | | | | 6,225 | |
| Methode Electronics, Inc. (Electronic Equipment, Instruments & Components) | | | 285 | | | | 13,606 | |
| Middlesex Water Co. (Water Utilities) | | | 97 | | | | 8,134 | |
| MillerKnoll, Inc. (Commercial Services & Supplies) | | | 1,210 | | | | 28,895 | |
| Minerals Technologies, Inc. (Chemicals) | | | 518 | | | | 35,975 | |
| Mister Car Wash, Inc.* (Diversified Consumer Services) | | | 618 | | | | 6,347 | |
| ModivCare, Inc.* (Health Care Providers & Services) | | | 204 | | | | 21,881 | |
| Monro, Inc. (Specialty Retail) | | | 504 | | | | 25,654 | |
| Moog, Inc.—Class A (Aerospace & Defense) | | | 180 | | | | 17,158 | |
| Motorcar Parts of America, Inc.* (Auto Components) | | | 307 | | | | 4,470 | |
| Movado Group, Inc. (Textiles, Apparel & Luxury Goods) | | | 253 | | | | 8,946 | |
| MYR Group, Inc.* (Construction & Engineering) | | | 135 | | | | 13,373 | |
| Myriad Genetics, Inc.* (Biotechnology) | | | 1,299 | | | | 25,615 | |
| Nabors Industries, Ltd.* (Energy Equipment & Services) | | | 47 | | | | 8,344 | |
| National Bank Holdings Corp. (Banks) | | | 204 | | | | 8,615 | |
| National Beverage Corp.* (Beverages) | | | 120 | | | | 5,304 | |
| National Presto Industries, Inc. (Aerospace & Defense) | | | 80 | | | | 6,129 | |
| National Vision Holdings, Inc.* (Specialty Retail) | | | 527 | | | | 21,660 | |
| Nektar Therapeutics* (Pharmaceuticals) | | | 1,570 | | | | 4,270 | |
| NeoGenomics, Inc.* (Life Sciences Tools & Services) | | | 2,023 | | | | 24,033 | |
| NETGEAR, Inc.* (Communications Equipment) | | | 462 | | | | 9,226 | |
| New York Mortgage Trust, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 5,933 | | | | 18,511 | |
| NexPoint Residential Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 169 | | | | 8,535 | |
| NMI Holdings, Inc.*—Class A (Thrifts & Mortgage Finance) | | | 659 | | | | 15,309 | |
| Northfield Bancorp, Inc. (Thrifts & Mortgage Finance) | | | 307 | | | | 4,590 | |
| Northwest Bancshares, Inc. (Banks) | | | 979 | | | | 13,843 | |
| Northwest Natural Holding Co. (Gas Utilities) | | | 204 | | | | 10,229 | |
| NOW, Inc.* (Trading Companies & Distributors) | | | 1,766 | | | | 24,795 | |
| Nu Skin Enterprises, Inc.—Class A (Personal Products) | | | 793 | | | | 34,004 | |
| NuVasive, Inc.* (Health Care Equipment & Supplies) | | | 834 | | | | 38,029 | |
| Oceaneering International, Inc.* (Energy Equipment & Services) | | | 451 | | | | 9,629 | |
| Office Properties Income Trust (Equity Real Estate Investment Trusts (REITs)) | | | 778 | | | | 13,350 | |
| O-I Glass, Inc.* (Containers & Packaging) | | | 1,341 | | | | 25,814 | |
| Oil States International, Inc.* (Energy Equipment & Services) | | | 1,022 | | | | 8,748 | |
| Olympic Steel, Inc. (Metals & Mining) | | | 150 | | | | 6,636 | |
| OneSpan, Inc.* (Software) | | | 288 | | | | 3,977 | |
| OptimizeRx Corp.* (Health Care Technology) | | | 116 | | | | 2,082 | |
| OraSure Technologies, Inc.* (Health Care Equipment & Supplies) | | | 1,162 | | | | 6,484 | |
| Organogenesis Holdings, Inc.* (Biotechnology) | | | 1,131 | | | | 2,895 | |
| Orion Office REIT, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 907 | | | | 8,753 | |
| Orthofix Medical, Inc.* (Health Care Equipment & Supplies) | | | 535 | | | | 11,572 | |
| OSI Systems, Inc.* (Electronic Equipment, Instruments & Components) | | | 123 | | | | 11,649 | |
| Outfront Media, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 2,337 | | | | 46,506 | |
| Owens & Minor, Inc.* (Health Care Providers & Services) | | | 1,218 | | | | 24,043 | |
| Oxford Industries, Inc. (Textiles, Apparel & Luxury Goods) | | | 76 | | | | 8,909 | |
| Pacific Premier Bancorp, Inc. (Banks) | | | 1,521 | | | | 49,188 | |
| Par Pacific Holdings, Inc.* (Oil, Gas & Consumable Fuels) | | | 885 | | | | 23,656 | |
| Park Aerospace Corp. (Aerospace & Defense) | | | 142 | | | | 1,975 | |
| Pathward Financial, Inc. (Banks) | | | 129 | | | | 6,401 | |
| Patrick Industries, Inc. (Auto Components) | | | 346 | | | | 24,556 | |
| Patterson-UTI Energy, Inc. (Energy Equipment & Services) | | | 1,110 | | | | 18,648 | |
| Payoneer Global, Inc.* (IT Services) | | | 1,819 | | | | 10,841 | |
| PC Connection, Inc. (Electronic Equipment, Instruments & Components) | | | 180 | | | | 8,825 | |
| Pediatrix Medical Group, Inc.* (Health Care Providers & Services) | | | 1,311 | | | | 20,124 | |
| PennyMac Mortgage Investment Trust (Mortgage Real Estate Investment Trusts (REITs)) | | | 1,423 | | | | 21,701 | |
| Perdoceo Education Corp.* (Diversified Consumer Services) | | | 398 | | | | 5,958 | |
| Perficient, Inc.* (IT Services) | | | 239 | | | | 17,719 | |
| PetMed Express, Inc. (Internet & Direct Marketing Retail) | | | 337 | | | | 7,239 | |
| Phibro Animal Health Corp.—Class A (Pharmaceuticals) | | | 322 | | | | 4,959 | |
| Pitney Bowes, Inc. (Commercial Services & Supplies) | | | 2,590 | | | | 11,163 | |
| Powell Industries, Inc. (Electrical Equipment) | | | 143 | | | | 5,677 | |
| PRA Group, Inc.* (Consumer Finance) | | | 620 | | | | 24,949 | |
| Prestige Consumer Healthcare, Inc.* (Pharmaceuticals) | | | 239 | | | | 15,717 | |
| PriceSmart, Inc. (Food & Staples Retailing) | | | 400 | | | | 29,724 | |
| ProAssurance Corp. (Insurance) | | | 866 | | | | 16,792 | |
| PROG Holdings, Inc.* (Consumer Finance) | | | 803 | | | | 17,899 | |
| ProPetro Holding Corp.* (Energy Equipment & Services) | | | 1,540 | | | | 15,323 | |
See accompanying notes to the financial statements.
132 :: Small-Cap Value ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Proto Labs, Inc.* (Machinery) | | | 433 | | | $ | 13,250 | |
| Provident Financial Services, Inc. (Thrifts & Mortgage Finance) | | | 1,199 | | | | 28,129 | |
| Quanex Building Products Corp. (Building Products) | | | 227 | | | | 5,877 | |
| QuinStreet, Inc.* (Interactive Media & Services) | | | 386 | | | | 5,917 | |
| RadNet, Inc.* (Health Care Providers & Services) | | | 779 | | | | 16,398 | |
| Rayonier Advanced Materials, Inc.* (Chemicals) | | | 1,021 | | | | 7,076 | |
| RE/MAX Holdings, Inc. (Real Estate Management & Development) | | | 293 | | | | 6,683 | |
| Ready Capital Corp. (Mortgage Real Estate Investment Trusts (REITs)) | | | 1,573 | | | | 20,811 | |
| Realogy Holdings Corp.* (Real Estate Management & Development) | | | 1,754 | | | | 14,874 | |
| Redwood Trust, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 1,815 | | | | 15,173 | |
| Renasant Corp. (Banks) | | | 893 | | | | 31,773 | |
| Rent-A-Center, Inc. (Specialty Retail) | | | 803 | | | | 21,593 | |
| Resideo Technologies, Inc.* (Building Products) | | | 2,331 | | | | 44,826 | |
| Resources Connection, Inc. (Professional Services) | | | 511 | | | | 8,825 | |
| Retail Opportunity Investments Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 1,993 | | | | 31,549 | |
| Rogers Corp.* (Electronic Equipment, Instruments & Components) | | | 302 | | | | 42,156 | |
| RPT Realty (Equity Real Estate Investment Trusts (REITs)) | | | 1,362 | | | | 14,274 | |
| Ruth's Hospitality Group, Inc. (Hotels, Restaurants & Leisure) | | | 232 | | | | 4,016 | |
| RXO, Inc.* (Road & Rail) | | | 1,845 | | | | 33,800 | |
| S&T Bancorp, Inc. (Banks) | | | 194 | | | | 7,058 | |
| Sabre Corp.* (IT Services) | | | 3,256 | | | | 22,174 | |
| Safehold, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 389 | | | | 13,599 | |
| Safety Insurance Group, Inc. (Insurance) | | | 97 | | | | 8,186 | |
| Sally Beauty Holdings, Inc.* (Specialty Retail) | | | 1,714 | | | | 26,704 | |
| Sanmina Corp.* (Electronic Equipment, Instruments & Components) | | | 491 | | | | 29,917 | |
| Saul Centers, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 89 | | | | 3,810 | |
| ScanSource, Inc.* (Electronic Equipment, Instruments & Components) | | | 404 | | | | 13,304 | |
| Scholastic Corp. (Media) | | | 473 | | | | 20,925 | |
| Seacoast Banking Corp. of Florida (Banks) | | | 608 | | | | 19,523 | |
| Select Medical Holdings Corp. (Health Care Providers & Services) | | | 1,669 | | | | 48,518 | |
| Semtech Corp.* (Semiconductors & Semiconductor Equipment) | | | 1,014 | | | | 33,492 | |
| Seneca Foods Corp.*—Class A (Food Products) | | | 86 | | | | 5,375 | |
| Service Properties Trust (Equity Real Estate Investment Trusts (REITs)) | | | 2,646 | | | | 23,576 | |
| Shake Shack, Inc.*—Class A (Hotels, Restaurants & Leisure) | | | 279 | | | | 15,870 | |
| Shenandoah Telecommunications Co. (Wireless Telecommunication Services) | | | 803 | | | | 15,699 | |
| Shoe Carnival, Inc. (Specialty Retail) | | | 275 | | | | 7,510 | |
| Shutterstock, Inc. (Internet & Direct Marketing Retail) | | | 201 | | | | 15,129 | |
| Signet Jewelers, Ltd. (Specialty Retail) | | | 738 | | | | 56,685 | |
| Simmons First National Corp.—Class A (Banks) | | | 2,029 | | | | 45,267 | |
| Simulations Plus, Inc. (Health Care Technology) | | | 86 | | | | 3,538 | |
| SiriusPoint, Ltd.* (Insurance) | | | 1,361 | | | | 10,330 | |
| SITE Centers Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 2,954 | | | | 40,322 | |
| Six Flags Entertainment Corp.* (Hotels, Restaurants & Leisure) | | | 674 | | | | 18,097 | |
| SkyWest, Inc.* (Airlines) | | | 810 | | | | 16,816 | |
| Sleep Number Corp.* (Specialty Retail) | | | 351 | | | | 12,067 | |
| SMART Global Holdings, Inc.* (Semiconductors & Semiconductor Equipment) | | | 778 | | | | 13,374 | |
| Sonic Automotive, Inc.—Class A (Specialty Retail) | | | 270 | | | | 14,502 | |
| Sonos, Inc.* (Household Durables) | | | 2,035 | | | | 37,526 | |
| Southside Bancshares, Inc. (Banks) | | | 204 | | | | 7,728 | |
| SpartanNash Co. (Food & Staples Retailing) | | | 561 | | | | 17,772 | |
| SPX Technologies, Inc.* (Machinery) | | | 275 | | | | 20,628 | |
| Standard Motor Products, Inc. (Auto Components) | | | 300 | | | | 12,138 | |
| Standex International Corp. (Machinery) | | | 58 | | | | 6,703 | |
| Stepan Co. (Chemicals) | | | 117 | | | | 12,851 | |
| Steven Madden, Ltd. (Textiles, Apparel & Luxury Goods) | | | 1,169 | | | | 41,908 | |
| Stewart Information Services Corp. (Insurance) | | | 433 | | | | 20,684 | |
| Strategic Education, Inc. (Diversified Consumer Services) | | | 150 | | | | 14,003 | |
| Sturm Ruger & Co., Inc. (Leisure Products) | | | 112 | | | | 6,373 | |
| Summit Hotel Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,711 | | | | 14,578 | |
| SunCoke Energy, Inc. (Metals & Mining) | | | 1,333 | | | | 12,144 | |
| Sunstone Hotel Investors, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 3,366 | | | | 36,992 | |
| Surmodics, Inc.* (Health Care Equipment & Supplies) | | | 107 | | | | 3,008 | |
| Sylvamo Corp. (Paper & Forest Products) | | | 227 | | | | 10,789 | |
| Talos Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 481 | | | | 9,529 | |
| Tanger Factory Outlet Centers, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 748 | | | | 14,294 | |
| Telephone and Data Systems, Inc. (Wireless Telecommunication Services) | | | 1,598 | | | | 21,364 | |
| Tennant Co. (Machinery) | | | 296 | | | | 20,758 | |
| The Andersons, Inc. (Food & Staples Retailing) | | | 278 | | | | 10,225 | |
| The Buckle, Inc. (Specialty Retail) | | | 143 | | | | 6,292 | |
| The Cheesecake Factory, Inc.(a) (Hotels, Restaurants & Leisure) | | | 761 | | | | 29,868 | |
| The Chefs' Warehouse, Inc.* (Food & Staples Retailing) | | | 204 | | | | 7,799 | |
| The Children's Place, Inc.* (Specialty Retail) | | | 208 | | | | 9,437 | |
| The E.W. Scripps Co.*—Class A (Media) | | | 926 | | | | 13,844 | |
| The GEO Group, Inc.* (Equity Real Estate Investment Trusts (REITs)) | | | 1,984 | | | | 22,816 | |
| The Greenbrier Cos., Inc. (Machinery) | | | 524 | | | | 16,202 | |
| The Hain Celestial Group, Inc.* (Food Products) | | | 1,426 | | | | 29,261 | |
| The Marcus Corp. (Entertainment) | | | 389 | | | | 5,889 | |
| The ODP Corp.* (Specialty Retail) | | | 646 | | | | 33,334 | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Small-Cap Value ProFund :: 133
Common Stocks, continued
| | | Shares | | | Value | |
| The Pennant Group, Inc.* (Health Care Providers & Services) | | | 450 | | | $ | 5,823 | |
| Thryv Holdings, Inc.* (Media) | | | 488 | | | | 10,917 | |
| TimkenSteel Corp.* (Metals & Mining) | | | 363 | | | | 7,140 | |
| Tompkins Financial Corp. (Banks) | | | 76 | | | | 5,725 | |
| Tredegar Corp. (Chemicals) | | | 406 | | | | 4,925 | |
| TreeHouse Foods, Inc.* (Food Products) | | | 427 | | | | 20,680 | |
| Tri Pointe Homes, Inc.* (Household Durables) | | | 1,614 | | | | 35,653 | |
| Trinity Industries, Inc. (Machinery) | | | 530 | | | | 15,248 | |
| Trinseo PLC (Chemicals) | | | 559 | | | | 15,512 | |
| Triumph Financial, Inc.* (Banks) | | | 142 | | | | 7,914 | |
| Triumph Group, Inc.* (Aerospace & Defense) | | | 1,038 | | | | 11,823 | |
| TrueBlue, Inc.* (Professional Services) | | | 524 | | | | 10,286 | |
| TrustCo Bank Corp. (Thrifts & Mortgage Finance) | | | 106 | | | | 3,806 | |
| Trustmark Corp. (Banks) | | | 302 | | | | 8,794 | |
| TTEC Holdings, Inc. (IT Services) | | | 149 | | | | 7,575 | |
| TTM Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 1,633 | | | | 25,671 | |
| Two Harbors Investment Corp. (Mortgage Real Estate Investment Trusts (REITs)) | | | 1,379 | | | | 24,739 | |
| U.S. Physical Therapy, Inc. (Health Care Providers & Services) | | | 80 | | | | 7,932 | |
| U.S. Silica Holdings, Inc.* (Energy Equipment & Services) | | | 510 | | | | 6,242 | |
| Ultra Clean Holdings, Inc.* (Semiconductors & Semiconductor Equipment) | | | 327 | | | | 11,004 | |
| UniFirst Corp. (Commercial Services & Supplies) | | | 97 | | | | 19,249 | |
| Unisys Corp.* (IT Services) | | | 1,084 | | | | 5,864 | |
| United Community Banks, Inc. (Banks) | | | 593 | | | | 19,296 | |
| United Fire Group, Inc. (Insurance) | | | 347 | | | | 10,927 | |
| United Natural Foods, Inc.* (Food & Staples Retailing) | | | 934 | | | | 38,874 | |
| Uniti Group, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 2,088 | | | | 13,760 | |
| Universal Corp. (Tobacco) | | | 395 | | | | 21,476 | |
| Universal Electronics, Inc.* (Household Durables) | | | 194 | | | | 4,545 | |
| Universal Health Realty Income Trust (Equity Real Estate Investment Trusts (REITs)) | | | 71 | | | | 3,892 | |
| Universal Insurance Holdings, Inc. (Insurance) | | | 439 | | | | 5,593 | |
| Urban Edge Properties (Equity Real Estate Investment Trusts (REITs)) | | | 921 | | | | 14,506 | |
| Urban Outfitters, Inc.* (Specialty Retail) | | | 959 | | | | 26,267 | |
| Urstadt Biddle Properties, Inc.—Class A (Equity Real Estate Investment Trusts (REITs)) | | | 203 | | | | 3,812 | |
| USANA Health Sciences, Inc.* (Personal Products) | | | 176 | | | | 10,285 | |
| Vanda Pharmaceuticals, Inc.* (Biotechnology) | | | 901 | | | | 6,920 | |
| Varex Imaging Corp.* (Health Care Equipment & Supplies) | | | 639 | | | | 13,732 | |
| Vector Group, Ltd. (Tobacco) | | | 1,177 | | | | 15,242 | |
| Vericel Corp.* (Biotechnology) | | | 323 | | | | 8,873 | |
| Veris Residential, Inc.* (Equity Real Estate Investment Trusts (REITs)) | | | 558 | | | | 9,653 | |
| Veritex Holdings, Inc. (Banks) | | | 441 | | | | 12,414 | |
| Veritiv Corp. (Trading Companies & Distributors) | | | 215 | | | | 26,884 | |
| Viad Corp.* (Commercial Services & Supplies) | | | 329 | | | | 9,722 | |
| Viavi Solutions, Inc.* (Communications Equipment) | | | 1,737 | | | | 19,628 | |
| Virtus Investment Partners, Inc. (Capital Markets) | | | 53 | | | | 11,388 | |
| Vista Outdoor, Inc.* (Leisure Products) | | | 495 | | | | 14,528 | |
| Wabash National Corp. (Machinery) | | | 320 | | | | 8,243 | |
| Walker & Dunlop, Inc. (Thrifts & Mortgage Finance) | | | 488 | | | | 46,545 | |
| Warrior Met Coal, Inc. (Metals & Mining) | | | 364 | | | | 13,788 | |
| WD-40 Co. (Household Products) | | | 79 | | | | 13,789 | |
| Whitestone REIT (Equity Real Estate Investment Trusts (REITs)) | | | 742 | | | | 7,724 | |
| Winnebago Industries, Inc. (Automobiles) | | | 262 | | | | 16,684 | |
| WisdomTree, Inc. (Capital Markets) | | | 785 | | | | 4,522 | |
| Wolverine World Wide, Inc. (Textiles, Apparel & Luxury Goods) | | | 1,260 | | | | 20,324 | |
| World Acceptance Corp.*(a) (Consumer Finance) | | | 53 | | | | 5,073 | |
| World Fuel Services Corp. (Oil, Gas & Consumable Fuels) | | | 993 | | | | 28,102 | |
| WSFS Financial Corp. (Thrifts & Mortgage Finance) | | | 985 | | | | 47,585 | |
| WW International, Inc.* (Diversified Consumer Services) | | | 856 | | | | 4,254 | |
| Xenia Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,822 | | | | 27,148 | |
| Xperi, Inc.* (Software) | | | 667 | | | | 6,903 | |
| Yelp, Inc.* (Interactive Media & Services) | | | 468 | | | | 14,747 | |
| Zimvie, Inc.* (Health Care Equipment & Supplies) | | | 332 | | | | 3,257 | |
| Zumiez, Inc.* (Specialty Retail) | | | 250 | | | | 6,458 | |
TOTAL COMMON STOCKS
(Cost $5,865,901) | | | | | | | 7,517,832 | |
Repurchase Agreements(b) (1.2%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $88,010 | | $ | 88,000 | | | $ | 88,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $88,000) | | | | | | | 88,000 | |
Collateral for Securities Loaned(c) (0.9%)
| | | Shares | | | Value | |
| Invesco Government & Agency Portfolio—Institutional Shares, 4.32%(d) | | | 69,204 | | | $ | 69,204 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $69,204) | | | | | | | 69,204 | |
TOTAL INVESTMENT SECURITIES
(Cost $6,023,105)—102.8% | | | | | | | 7,675,036 | |
| Net other assets (liabilities)—(2.8)% | | | | | | | (209,532 | ) |
| NET ASSETS—100.0% | | | | | | $ | 7,465,504 | |
See accompanying notes to the financial statements.
134 :: Small-Cap Value ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $67,981. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (c) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (d) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
Small-Cap Value ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 64,348 | | | | 0.9 | % |
| Air Freight & Logistics | | | 47,845 | | | | 0.6 | % |
| Airlines | | | 48,475 | | | | 0.7 | % |
| Auto Components | | | 95,814 | | | | 1.3 | % |
| Automobiles | | | 16,684 | | | | 0.2 | % |
| Banks | | | 627,084 | | | | 8.4 | % |
| Beverages | | | 5,304 | | | | 0.1 | % |
| Biotechnology | | | 83,975 | | | | 1.1 | % |
| Building Products | | | 123,524 | | | | 1.7 | % |
| Capital Markets | | | 36,581 | | | | 0.5 | % |
| Chemicals | | | 129,970 | | | | 1.7 | % |
| Commercial Services & Supplies | | | 237,322 | | | | 3.2 | % |
| Communications Equipment | | | 42,498 | | | | 0.6 | % |
| Construction & Engineering | | | 58,750 | | | | 0.8 | % |
| Consumer Finance | | | 113,284 | | | | 1.5 | % |
| Containers & Packaging | | | 25,814 | | | | 0.3 | % |
| Diversified Consumer Services | | | 47,549 | | | | 0.6 | % |
| Diversified Telecommunication Services | | | 24,268 | | | | 0.3 | % |
| Electrical Equipment | | | 22,669 | | | | 0.3 | % |
| Electronic Equipment, Instruments & Components | | | 307,173 | | | | 4.1 | % |
| Energy Equipment & Services | | | 176,583 | | | | 2.4 | % |
| Entertainment | | | 26,367 | | | | 0.4 | % |
| Equity Real Estate Investment Trusts (REITs) | | | 862,159 | | | | 11.5 | % |
| Food & Staples Retailing | | | 104,393 | | | | 1.4 | % |
| Food Products | | | 98,967 | | | | 1.3 | % |
| Gas Utilities | | | 21,954 | | | | 0.3 | % |
| Health Care Equipment & Supplies | | | 248,751 | | | | 3.3 | % |
| Health Care Providers & Services | | | 210,130 | | | | 2.8 | % |
| Health Care Technology | | | 12,149 | | | | 0.2 | % |
| Hotels, Restaurants & Leisure | | | 156,136 | | | | 2.1 | % |
| Household Durables | | | 318,620 | | | | 4.3 | % |
| Household Products | | | 30,856 | | | | 0.4 | % |
| Insurance | | | 257,543 | | | | 3.5 | % |
| Interactive Media & Services | | | 20,664 | | | | 0.3 | % |
| Internet & Direct Marketing Retail | | | 25,291 | | | | 0.3 | % |
| IT Services | | | 110,522 | | | | 1.5 | % |
| Leisure Products | | | 60,276 | | | | 0.8 | % |
| Life Sciences Tools & Services | | | 24,033 | | | | 0.3 | % |
| Machinery | | | 257,394 | | | | 3.4 | % |
| Media | | | 59,306 | | | | 0.8 | % |
| Metals & Mining | | | 194,996 | | | | 2.6 | % |
| Mortgage Real Estate Investment Trusts (REITs) | | | 182,626 | | | | 2.4 | % |
| Multiline Retail | | | 7,607 | | | | 0.1 | % |
| Multi-Utilities | | | 47,162 | | | | 0.6 | % |
| Oil, Gas & Consumable Fuels | | | 111,644 | | | | 1.5 | % |
| Paper & Forest Products | | | 50,177 | | | | 0.7 | % |
| Personal Products | | | 62,762 | | | | 0.8 | % |
| Pharmaceuticals | | | 37,261 | | | | 0.5 | % |
| Professional Services | | | 95,390 | | | | 1.3 | % |
| Real Estate Management & Development | | | 64,098 | | | | 0.9 | % |
| Road & Rail | | | 71,103 | | | | 1.0 | % |
| Semiconductors & Semiconductor Equipment | | | 121,875 | | | | 1.6 | % |
| Software | | | 90,429 | | | | 1.2 | % |
| Specialty Retail | | | 550,805 | | | | 7.4 | % |
| Technology Hardware, Storage & Peripherals | | | 33,664 | | | | 0.5 | % |
| Textiles, Apparel & Luxury Goods | | | 129,309 | | | | 1.7 | % |
| Thrifts & Mortgage Finance | | | 189,133 | | | | 2.5 | % |
| Tobacco | | | 36,718 | | | | 0.5 | % |
| Trading Companies & Distributors | | | 110,937 | | | | 1.5 | % |
| Water Utilities | | | 45,959 | | | | 0.6 | % |
| Wireless Telecommunication Services | | | 43,152 | | | | 0.6 | % |
| Other** | | | (52,328 | ) | | | (0.7 | )% |
| Total | | $ | 7,465,504 | | | | 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: Technology UltraSector ProFund :: 135
Common Stocks (78.2%)
| | | Shares | | | Value | |
| ACI Worldwide, Inc.* (Software) | | | 323 | | | $ | 9,021 | |
| Adobe, Inc.* (Software) | | | 1,337 | | | | 495,145 | |
| Advanced Micro Devices, Inc.* (Semiconductors & Semiconductor Equipment) | | | 4,637 | | | | 348,471 | |
| Akamai Technologies, Inc.* (IT Services) | | | 452 | | | | 40,205 | |
| Allegro MicroSystems, Inc.* (Semiconductors & Semiconductor Equipment) | | | 187 | | | | 7,138 | |
| Alphabet, Inc.*—Class A (Interactive Media & Services) | | | 17,178 | | | | 1,697,873 | |
| Alphabet, Inc.*—Class C (Interactive Media & Services) | | | 15,227 | | | | 1,520,720 | |
| Alteryx, Inc.* (Software) | | | 176 | | | | 9,766 | |
| Amdocs, Ltd. (IT Services) | | | 351 | | | | 32,267 | |
| Amkor Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 289 | | | | 8,456 | |
| Analog Devices, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,479 | | | | 253,604 | |
| ANSYS, Inc.* (Software) | | | 251 | | | | 66,856 | |
| Appian Corp.* (Software) | | | 118 | | | | 4,881 | |
| Apple, Inc. (Technology Hardware, Storage & Peripherals) | | | 43,005 | | | | 6,205,191 | |
| Applied Materials, Inc. (Semiconductors & Semiconductor Equipment) | | | 2,474 | | | | 275,826 | |
| AppLovin Corp.*—Class A (Software) | | | 354 | | | | 4,496 | |
| Arista Networks, Inc.* (Communications Equipment) | | | 711 | | | | 89,600 | |
| Asana, Inc.*—Class A (Software) | | | 217 | | | | 3,364 | |
| Aspen Technology, Inc.* (Software) | | | 84 | | | | 16,695 | |
| Atlassian Corp.*—Class A (Software) | | | 426 | | | | 68,850 | |
| Autodesk, Inc.* (Software) | | | 621 | | | | 133,614 | |
| Bentley Systems, Inc.—Class B (Software) | | | 565 | | | | 22,063 | |
| Bill.com Holdings, Inc.* (Software) | | | 274 | | | | 31,680 | |
| Black Knight, Inc.* (IT Services) | | | 449 | | | | 27,205 | |
| Blackbaud, Inc.* (Software) | | | 128 | | | | 7,963 | |
| Blackline, Inc.* (Software) | | | 156 | | | | 11,201 | |
| Broadcom, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,165 | | | | 681,536 | |
| Bumble, Inc.*—Class A (Interactive Media & Services) | | | 227 | | | | 5,845 | |
| Cadence Design Systems, Inc.* (Software) | | | 789 | | | | 144,253 | |
| Cargurus, Inc.* (Interactive Media & Services) | | | 269 | | | | 4,748 | |
| CCC Intelligent Solutions Holdings, Inc.* (Software) | | | 303 | | | | 2,803 | |
| CDW Corp. (Electronic Equipment, Instruments & Components) | | | 389 | | | | 76,256 | |
| Ceridian HCM Holding, Inc.* (Software) | | | 442 | | | | 31,948 | |
| Chewy, Inc.*(a)—Class A (Internet & Direct Marketing Retail) | | | 266 | | | | 11,986 | |
| Ciena Corp.* (Communications Equipment) | | | 426 | | | | 22,161 | |
| Cirrus Logic, Inc.* (Semiconductors & Semiconductor Equipment) | | | 158 | | | | 14,282 | |
| Cisco Systems, Inc. (Communications Equipment) | | | 11,808 | | | | 574,695 | |
| Clear Secure, Inc.—Class A (Software) | | | 216 | | | | 6,780 | |
| Cloudflare, Inc.*—Class A (Software) | | | 819 | | | | 43,333 | |
| Cognizant Technology Solutions Corp.—Class A (IT Services) | | | 1,478 | | | | 98,657 | |
| Confluent, Inc.*—Class A (Software) | | | 442 | | | | 10,210 | |
| Coupa Software, Inc.* (Software) | | | 218 | | | | 17,423 | |
| Crowdstrike Holdings, Inc.*—Class A (Software) | | | 618 | | | | 65,446 | |
| Datadog, Inc.*—Class A (Software) | | | 714 | | | | 53,414 | |
| Dell Technologies, Inc.—Class C (Technology Hardware, Storage & Peripherals) | | | 745 | | | | 30,262 | |
| DocuSign, Inc.* (Software) | | | 577 | | | | 34,989 | |
| Dolby Laboratories, Inc.—Class A (Electronic Equipment, Instruments & Components) | | | 177 | | | | 14,082 | |
| DoorDash, Inc.*—Class A (Internet & Direct Marketing Retail) | | | 756 | | | | 43,788 | |
| Dropbox, Inc.* (Software) | | | 776 | | | | 18,026 | |
| DXC Technology Co.* (IT Services) | | | 662 | | | | 19,019 | |
| Dynatrace, Inc.* (Software) | | | 579 | | | | 22,251 | |
| eBay, Inc. (Internet & Direct Marketing Retail) | | | 1,561 | | | | 77,269 | |
| Elastic NV* (Software) | | | 221 | | | | 13,004 | |
| Enphase Energy, Inc.* (Semiconductors & Semiconductor Equipment) | | | 391 | | | | 86,560 | |
| Entegris, Inc. (Semiconductors & Semiconductor Equipment) | | | 429 | | | | 34,625 | |
| EPAM Systems, Inc.* (IT Services) | | | 165 | | | | 54,887 | |
| Etsy, Inc.* (Internet & Direct Marketing Retail) | | | 361 | | | | 49,666 | |
| F5, Inc.* (Communications Equipment) | | | 172 | | | | 25,398 | |
| Fair Isaac Corp.* (Software) | | | 72 | | | | 47,948 | |
| Five9, Inc.* (Software) | | | 203 | | | | 15,992 | |
| Fortinet, Inc.* (Software) | | | 1,865 | | | | 97,614 | |
| Garmin, Ltd. (Household Durables) | | | 441 | | | | 43,606 | |
| Gartner, Inc.* (IT Services) | | | 227 | | | | 76,758 | |
| Gen Digital, Inc. (Software) | | | 1,667 | | | | 38,358 | |
| Gitlab, Inc.*—Class A (Software) | | | 173 | | | | 8,548 | |
| GLOBALFOUNDRIES, Inc.*(a) (Semiconductors & Semiconductor Equipment) | | | 202 | | | | 11,975 | |
| GoDaddy, Inc.*—Class A (IT Services) | | | 446 | | | | 36,630 | |
| Guidewire Software, Inc.* (Software) | | | 235 | | | | 17,211 | |
| HashiCorp, Inc.*—Class A (Software) | | | 212 | | | | 6,822 | |
| Hewlett Packard Enterprises Co. (Technology Hardware, Storage & Peripherals) | | | 3,700 | | | | 59,681 | |
| HP, Inc. (Technology Hardware, Storage & Peripherals) | | | 2,546 | | | | 74,190 | |
| HubSpot, Inc.* (Software) | | | 140 | | | | 48,581 | |
| IAC/InterActive Corp.* (Interactive Media & Services) | | | 225 | | | | 12,713 | |
| Informatica, Inc.*—Class A (Software) | | | 110 | | | | 1,958 | |
| Intel Corp. (Semiconductors & Semiconductor Equipment) | | | 11,869 | | | | 335,418 | |
| International Business Machines Corp. (IT Services) | | | 2,600 | | | | 350,298 | |
| Intuit, Inc. (Software) | | | 811 | | | | 342,785 | |
| Juniper Networks, Inc. (Communications Equipment) | | | 933 | | | | 30,136 | |
| KLA Corp. (Semiconductors & Semiconductor Equipment) | | | 408 | | | | 160,132 | |
| Lam Research Corp. (Semiconductors & Semiconductor Equipment) | | | 392 | | | | 196,039 | |
| Lattice Semiconductor Corp.* (Semiconductors & Semiconductor Equipment) | | | 394 | | | | 29,861 | |
| Liberty Global PLC*—Class A (Media) | | | 494 | | | | 10,715 | |
See accompanying notes to the financial statements.
136 :: Technology UltraSector ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Liberty Global PLC*—Class C (Diversified Telecommunication Services) | | | 735 | | | $ | 16,428 | |
| Lumen Technologies, Inc. (Diversified Telecommunication Services) | | | 2,737 | | | | 14,369 | |
| Lumentum Holdings, Inc.* (Communications Equipment) | | | 196 | | | | 11,795 | |
| Manhattan Associates, Inc.* (Software) | | | 179 | | | | 23,334 | |
| Marvell Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 2,452 | | | | 105,804 | |
| Match Group, Inc.* (Interactive Media & Services) | | | 804 | | | | 43,512 | |
| Meta Platforms, Inc.*—Class A (Interactive Media & Services) | | | 6,467 | | | | 963,389 | |
| Microchip Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,582 | | | | 122,795 | |
| Micron Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 3,126 | | | | 188,498 | |
| Microsoft Corp. (Software) | | | 21,438 | | | | 5,312,552 | |
| MicroStrategy, Inc.*(a) (Software) | | | 27 | | | | 6,797 | |
| MKS Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 164 | | | | 16,780 | |
| MongoDB, Inc.* (IT Services) | | | 198 | | | | 42,414 | |
| Monolithic Power Systems, Inc. (Semiconductors & Semiconductor Equipment) | | | 128 | | | | 54,600 | |
| Motorola Solutions, Inc. (Communications Equipment) | | | 481 | | | | 123,622 | |
| nCino, Inc.* (Software) | | | 220 | | | | 6,292 | |
| NCR Corp.* (Technology Hardware, Storage & Peripherals) | | | 395 | | | | 10,831 | |
| NetApp, Inc. (Technology Hardware, Storage & Peripherals) | | | 625 | | | | 41,394 | |
| New Relic, Inc.* (Software) | | | 167 | | | | 10,195 | |
| Nutanix, Inc.*—Class A (Software) | | | 662 | | | | 18,450 | |
| NVIDIA Corp. (Semiconductors & Semiconductor Equipment) | | | 7,161 | | | | 1,399,044 | |
| NXP Semiconductors N.V. (Semiconductors & Semiconductor Equipment) | | | 745 | | | | 137,311 | |
| Okta, Inc.* (IT Services) | | | 437 | | | | 32,168 | |
| ON Semiconductor Corp.* (Semiconductors & Semiconductor Equipment) | | | 1,244 | | | | 91,372 | |
| Oracle Corp. (Software) | | | 4,420 | | | | 390,993 | |
| Palantir Technologies, Inc.*—Class A (Software) | | | 5,066 | | | | 39,413 | |
| Palo Alto Networks, Inc.* (Software) | | | 864 | | | | 137,065 | |
| Paycom Software, Inc.* (Software) | | | 140 | | | | 45,352 | |
| Paylocity Holding Corp.* (Software) | | | 118 | | | | 24,578 | |
| Pegasystems, Inc. (Software) | | | 118 | | | | 4,588 | |
| Power Integrations, Inc. (Semiconductors & Semiconductor Equipment) | | | 164 | | | | 14,119 | |
| Procore Technologies, Inc.* (Software) | | | 198 | | | | 11,078 | |
| PTC, Inc.* (Software) | | | 304 | | | | 41,004 | |
| Pure Storage, Inc.*—Class A (Technology Hardware, Storage & Peripherals) | | | 808 | | | | 23,384 | |
| Qorvo, Inc.* (Semiconductors & Semiconductor Equipment) | | | 292 | | | | 31,729 | |
| Qualcomm, Inc. (Semiconductors & Semiconductor Equipment) | | | 3,224 | | | | 429,469 | |
| Qualtrics International, Inc.*—Class A (Software) | | | 318 | | | | 5,015 | |
| Rapid7, Inc.* (Software) | | | 170 | | | | 6,778 | |
| RingCentral, Inc.*—Class A (Software) | | | 222 | | | | 8,665 | |
| Roper Technologies, Inc. (Software) | | | 305 | | | | 130,159 | |
| Salesforce, Inc.* (Software) | | | 2,876 | | | | 483,082 | |
| Samsara, Inc.*—Class A (Software) | | | 287 | | | | 3,915 | |
| Seagate Technology Holdings PLC (Technology Hardware, Storage & Peripherals) | | | 552 | | | | 37,415 | |
| Semtech Corp.* (Semiconductors & Semiconductor Equipment) | | | 183 | | | | 6,044 | |
| SentinelOne, Inc.*—Class A (Software) | | | 606 | | | | 9,145 | |
| ServiceNow, Inc.* (Software) | | | 581 | | | | 264,431 | |
| Silicon Laboratories, Inc.* (Semiconductors & Semiconductor Equipment) | | | 96 | | | | 15,063 | |
| Skyworks Solutions, Inc. (Semiconductors & Semiconductor Equipment) | | | 461 | | | | 50,558 | |
| Smartsheet, Inc.* (Software) | | | 376 | | | | 16,247 | |
| Snap, Inc.* (Interactive Media & Services) | | | 2,892 | | | | 33,432 | |
| Snowflake, Inc.*—Class A (IT Services) | | | 819 | | | | 128,124 | |
| SolarEdge Technologies, Inc.* (Semiconductors & Semiconductor Equipment) | | | 161 | | | | 51,380 | |
| Splunk, Inc.* (Software) | | | 431 | | | | 41,277 | |
| Squarespace, Inc.*—Class A (IT Services) | | | 118 | | | | 2,799 | |
| Synopsys, Inc.* (Software) | | | 440 | | | | 155,650 | |
| TD SYNNEX Corp. (Electronic Equipment, Instruments & Components) | | | 121 | | | | 12,360 | |
| Teradyne, Inc. (Semiconductors & Semiconductor Equipment) | | | 448 | | | | 45,562 | |
| Texas Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 2,610 | | | | 462,517 | |
| Thoughtworks Holding, Inc.* (IT Services) | | | 188 | | | | 2,030 | |
| Twilio, Inc.* (IT Services) | | | 502 | | | | 30,040 | |
| Tyler Technologies, Inc.* (Software) | | | 120 | | | | 38,732 | |
| Ubiquiti, Inc. (Communications Equipment) | | | 12 | | | | 3,506 | |
| UiPath, Inc.*—Class A (Software) | | | 1,008 | | | | 15,483 | |
| Unity Software, Inc.*(a) (Software) | | | 701 | | | | 24,900 | |
| Universal Display Corp. (Semiconductors & Semiconductor Equipment) | | | 125 | | | | 16,566 | |
| Varonis Systems, Inc.* (Software) | | | 317 | | | | 8,191 | |
| Veeva Systems, Inc.*—Class A (Health Care Technology) | | | 404 | | | | 68,902 | |
| Verint Systems, Inc.* (Software) | | | 188 | | | | 7,138 | |
| VeriSign, Inc.* (IT Services) | | | 265 | | | | 57,783 | |
| Viavi Solutions, Inc.* (Communications Equipment) | | | 651 | | | | 7,356 | |
| VMware, Inc.*—Class A (Software) | | | 598 | | | | 73,237 | |
| Western Digital Corp.* (Technology Hardware, Storage & Peripherals) | | | 914 | | | | 40,170 | |
| Wolfspeed, Inc.* (Semiconductors & Semiconductor Equipment) | | | 357 | | | | 27,493 | |
| Workday, Inc.*—Class A (Software) | | | 578 | | | | 104,867 | |
| Workiva, Inc.* (Software) | | | 132 | | | | 11,422 | |
| Ziff Davis, Inc.* (Interactive Media & Services) | | | 136 | | | | 12,169 | |
| Zoom Video Communications, Inc.*—Class A (Software) | | | 635 | | | | 47,625 | |
| Zscaler, Inc.* (Software) | | | 243 | | | | 30,171 | |
TOTAL COMMON STOCKS
(Cost $5,819,513) | | | | | | | 28,419,639 | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: Technology UltraSector ProFund :: 137
Repurchase Agreements(b)(c) (21.8%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $7,925,927 | | $ | 7,925,000 | | | $ | 7,925,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $7,925,000) | | | | | | | 7,925,000 | |
Collateral for Securities Loaned(d) (0.1%)
| | | Shares | | | Value | |
| Invesco Government & Agency Portfolio—Institutional Shares, 4.32%(e) | | | 54,030 | | | $ | 54,030 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $54,030) | | | | | | | 54,030 | |
TOTAL INVESTMENT SECURITIES
(Cost $13,798,543)—100.1% | | | | | | | 36,398,669 | |
| Net other assets (liabilities)—(0.1)% | | | | | | | (30,589 | ) |
| NET ASSETS—100.0% | | | | | | $ | 36,368,080 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $55,265. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $4,858,000. |
| (d) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (e) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
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 | | 2/23/23 | | | 4.93 | % | | $ | 13,152,895 | | | $ | 150,244 | |
| Dow Jones U.S. Technology Index | | UBS AG | | 2/23/23 | | | 4.93 | % | | | 12,868,749 | | | | 144,644 | |
| | | | | | | | | | | $ | 26,021,644 | | | $ | 294,888 | |
| (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, 2023, 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). |
Technology UltraSector ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Communications Equipment | | $ | 888,269 | | | | 2.5 | % |
| Diversified Telecommunication Services | | | 30,797 | | | | 0.1 | % |
| Electronic Equipment, Instruments & Components | | | 102,698 | | | | 0.3 | % |
| Health Care Technology | | | 68,902 | | | | 0.2 | % |
| Household Durables | | | 43,606 | | | | 0.1 | % |
| Interactive Media & Services | | | 4,294,402 | | | | 11.8 | % |
| Internet & Direct Marketing Retail | | | 182,709 | | | | 0.5 | % |
| IT Services | | | 1,031,284 | | | | 2.9 | % |
| Media | | | 10,715 | | | | NM | |
| Semiconductors & Semiconductor Equipment | | | 5,710,627 | | | | 15.7 | % |
| Software | | | 9,533,112 | | | | 26.1 | % |
| Technology Hardware, Storage & Peripherals | | | 6,522,518 | | | | 18.0 | % |
| Other** | | | 7,948,441 | | | | 21.8 | % |
| Total | | $ | 36,368,080 | | | | 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.
138 :: Telecommunications UltraSector ProFund(a) :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
| | | Value | |
| Cash and segregated cash balances—99.1% | | $ | 531,361 | |
| Net other assets (liabilities)—0.9% | | | 4,670 | |
| NET ASSETS—100.0% | | $ | 536,031 | |
| (a) | As described in Note 11, the Telecommunications UltraSector ProFund liquidated on February 7, 2023. |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: UltraBear ProFund :: 139
Repurchase Agreements(a)(b) (96.1%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $10,541,233 | | $ | 10,540,000 | | | $ | 10,540,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $10,540,000) | | | | | | | 10,540,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $10,540,000)—96.1% | | | | | | | 10,540,000 | |
| Net other assets (liabilities)—3.9% | | | | | | | 429,789 | |
| NET ASSETS—100.0% | | | | | | $ | 10,969,789 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $3,047,000. |
Futures Contracts Sold
| | | Number
of
Contracts | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini S&P 500 Futures Contracts | | 3 | | 3/20/23 | | $ | (613,500 | ) | | $ | (18,305 | ) |
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 | | 2/27/23 | | | (4.68 | )% | | $ | (13,999,044 | ) | | $ | (15,260 | ) |
| S&P 500 | | UBS AG | | 2/27/23 | | | (4.48 | )% | | | (7,297,114 | ) | | | (5,745 | ) |
| | | | | | | | | | | $ | (21,296,158 | ) | | $ | (21,005 | ) |
| (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, 2023, 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, 2023 (unaudited)
Common Stocks (68.4%)
| | | Percentage
of Net Assets | | | Shares | | | Value | |
| Abbott Laboratories (Health Care Equipment & Supplies) | | | 0.4 | % | | | 3,997 | | | $ | 441,867 | |
| AbbVie, Inc. (Biotechnology) | | | 0.5 | % | | | 4,054 | | | | 598,978 | |
| Accenture PLC—Class A (IT Services) | | | 0.4 | % | | | 1,445 | | | | 403,227 | |
| Adobe, Inc.* (Software)* | | | 0.3 | % | | | 1,066 | | | | 394,783 | |
| Alphabet, Inc.—Class A* (Interactive Media & Services)* | | | 1.2 | % | | | 13,691 | | | | 1,353,219 | |
| Alphabet, Inc.—Class C* (Interactive Media & Services)* | | | 1.1 | % | | | 12,136 | | | | 1,212,022 | |
| Amazon.com, Inc.* (Internet & Direct Marketing Retail)* | | | 1.8 | % | | | 20,344 | | | | 2,098,077 | |
| Apple, Inc. (Technology Hardware, Storage & Peripherals) | | | 4.3 | % | | | 34,276 | | | | 4,945,683 | |
| Bank of America Corp. (Banks) | | | 0.5 | % | | | 15,999 | | | | 567,645 | |
| Berkshire Hathaway, Inc.—Class B* (Diversified Financial Services)* | | | 1.1 | % | | | 4,130 | | | | 1,286,578 | |
| Bristol-Myers Squibb Co. (Pharmaceuticals) | | | 0.3 | % | | | 4,873 | | | | 354,023 | |
| Broadcom, Inc. (Semiconductors & Semiconductor Equipment) | | | 0.5 | % | | | 928 | | | | 542,889 | |
| Chevron Corp. (Oil, Gas & Consumable Fuels) | | | 0.6 | % | | | 4,078 | | | | 709,654 | |
| Cisco Systems, Inc. (Communications Equipment) | | | 0.4 | % | | | 9,411 | | | | 458,033 | |
| Comcast Corp.—Class A (Media) | | | 0.3 | % | | | 9,886 | | | | 389,015 | |
| ConocoPhillips (Oil, Gas & Consumable Fuels) | | | 0.3 | % | | | 2,856 | | | | 348,061 | |
| Costco Wholesale Corp. (Food & Staples Retailing) | | | 0.5 | % | | | 1,015 | | | | 518,807 | |
| Danaher Corp. (Health Care Equipment & Supplies) | | | 0.3 | % | | | 1,502 | | | | 397,098 | |
| Eli Lilly & Co. (Pharmaceuticals) | | | 0.5 | % | | | 1,808 | | | | 622,223 | |
| Exxon Mobil Corp. (Oil, Gas & Consumable Fuels) | | | 1.0 | % | | | 9,439 | | | | 1,095,018 | |
| Johnson & Johnson (Pharmaceuticals) | | | 0.9 | % | | | 5,993 | | | | 979,377 | |
| JPMorgan Chase & Co. (Banks) | | | 0.8 | % | | | 6,724 | | | | 941,091 | |
| Linde PLC (Chemicals) | | | 0.3 | % | | | 1,133 | | | | 374,954 | |
| Mastercard, Inc.—Class A (IT Services) | | | 0.6 | % | | | 1,945 | | | | 720,817 | |
| McDonald's Corp. (Hotels, Restaurants & Leisure) | | | 0.4 | % | | | 1,679 | | | | 448,964 | |
| Merck & Co., Inc. (Pharmaceuticals) | | | 0.5 | % | | | 5,812 | | | | 624,267 | |
| Meta Platforms, Inc.—Class A* (Interactive Media & Services)* | | | 0.7 | % | | | 5,155 | | | | 767,940 | |
| Microsoft Corp. (Software) | | | 3.7 | % | | | 17,087 | | | | 4,234,330 | |
| Netflix, Inc.* (Entertainment)* | | | 0.3 | % | | | 1,020 | | | | 360,937 | |
| NextEra Energy, Inc. (Electric Utilities) | | | 0.3 | % | | | 4,555 | | | | 339,940 | |
| NIKE, Inc.—Class B (Textiles, Apparel & Luxury Goods) | | | 0.3 | % | | | 2,886 | | | | 367,474 | |
| NVIDIA Corp. (Semiconductors & Semiconductor Equipment) | | | 1.0 | % | | | 5,708 | | | | 1,115,173 | |
| PepsiCo, Inc. (Beverages) | | | 0.5 | % | | | 3,158 | | | | 540,081 | |
| Pfizer, Inc. (Pharmaceuticals) | | | 0.5 | % | | | 12,864 | | | | 568,074 | |
| Philip Morris International, Inc. (Tobacco) | | | 0.3 | % | | | 3,553 | | | | 370,365 | |
| Qualcomm, Inc. (Semiconductors & Semiconductor Equipment) | | | 0.3 | % | | | 2,570 | | | | 342,350 | |
| Salesforce, Inc.* (Software)* | | | 0.3 | % | | | 2,292 | | | | 384,987 | |
| Tesla, Inc.* (Automobiles)* | | | 0.9 | % | | | 6,152 | | | | 1,065,649 | |
| Texas Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 0.3 | % | | | 2,081 | | | | 368,774 | |
| The Coca-Cola Co. (Beverages) | | | 0.5 | % | | | 8,921 | | | | 547,037 | |
| The Home Depot, Inc. (Specialty Retail) | | | 0.7 | % | | | 2,346 | | | | 760,504 | |
| The Procter & Gamble Co. (Household Products) | | | 0.7 | % | | | 5,432 | | | | 773,408 | |
| The Walt Disney Co.* (Entertainment)* | | | 0.4 | % | | | 4,179 | | | | 453,380 | |
| Thermo Fisher Scientific, Inc. (Life Sciences Tools & Services) | | | 0.4 | % | | | 899 | | | | 512,726 | |
| UnitedHealth Group, Inc. (Health Care Providers & Services) | | | 0.9 | % | | | 2,142 | | | | 1,069,265 | |
| Verizon Communications, Inc. (Diversified Telecommunication Services) | | | 0.4 | % | | | 9,627 | | | | 400,194 | |
| Visa, Inc.—Class A (IT Services) | | | 0.8 | % | | | 3,748 | | | | 862,828 | |
| Walmart, Inc. (Food & Staples Retailing) | | | 0.4 | % | | | 3,235 | | | | 465,419 | |
| Wells Fargo & Co. (Banks) | | | 0.4 | % | | | 8,735 | | | | 409,409 | |
| Other Common Stocks(a) | | | 33.5 | % | | | 428,230 | | | | 38,288,990 | |
TOTAL COMMON STOCKS
(Cost $31,743,153) | | | | | | | | | | | 78,195,604 | |
Repurchase Agreements(b)(c) (33.1%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $37,855,427 | | $ | 37,851,000 | | | $ | 37,851,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $37,851,000) | | | | | | | 37,851,000 | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Summary Schedule of Portfolio Investments :: UltraBull ProFund :: 141
Collateral for Securities Loaned(d)(NM)
| | | Shares | | | Value | |
| Invesco Government & Agency Portfolio—Institutional Shares, 4.32%(e) | | | 14,732 | | | $ | 14,732 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $14,732) | | | | | | | 14,732 | |
TOTAL INVESTMENT SECURITIES
(Cost $69,608,885)—101.5% | | | | | | | 116,061,336 | |
| Net other assets (liabilities)—(1.5)% | | | | | | | (1,720,738 | ) |
| NET ASSETS—100.0% | | | | | | $ | 114,340,598 | |
| * | Non-income producing security. |
| (a) | All or part of one or more of the securities in this group was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $14,693. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $19,938,000. |
| (d) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (e) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
| NM | Not meaningful, amount is less than 0.05%. |
Futures Contracts Purchased
| | | Number
of
Contracts | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini S&P 500 Futures Contracts | | 21 | | 3/20/23 | | $ | 4,294,500 | | | $ | 128,007 | |
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 | | 2/27/23 | | | 4.93 | % | | $ | 82,070,111 | | | $ | 86,573 | |
| SPDR S&P 500 ETF | | Goldman Sachs International | | 2/27/23 | | | 4.84 | % | | | 15,107,240 | | | | 21,647 | |
| | | | | | | | | | | $ | 97,177,351 | | | $ | 108,220 | |
| | | | | | | | | | | | | | | | | |
| S&P 500 | | UBS AG | | 2/27/23 | | | 4.83 | % | | $ | 26,335,244 | | | $ | 15,534 | |
| SPDR S&P 500 ETF | | UBS AG | | 2/27/23 | | | 4.43 | % | | | 22,419,185 | | | | 33,132 | |
| | | | | | | | | | | $ | 48,754,429 | | | $ | 48,666 | |
| | | | | | | | | | | $ | 145,931,780 | | | $ | 156,886 | |
| (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, 2023, 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, 2023 (unaudited)
UltraBull ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 1,395,340 | | | | 1.2 | % |
| Air Freight & Logistics | | | 482,731 | | | | 0.4 | % |
| Airlines | | | 181,904 | | | | 0.2 | % |
| Auto Components | | | 95,618 | | | | 0.1 | % |
| Automobiles | | | 1,316,034 | | | | 1.2 | % |
| Banks | | | 3,075,665 | | | | 2.7 | % |
| Beverages | | | 1,383,389 | | | | 1.2 | % |
| Biotechnology | | | 1,791,107 | | | | 1.6 | % |
| Building Products | | | 362,472 | | | | 0.3 | % |
| Capital Markets | | | 2,481,594 | | | | 2.2 | % |
| Chemicals | | | 1,474,462 | | | | 1.3 | % |
| Commercial Services & Supplies | | | 363,936 | | | | 0.3 | % |
| Communications Equipment | | | 672,214 | | | | 0.6 | % |
| Construction & Engineering | | | 49,918 | | | | NM | |
| Construction Materials | | | 107,344 | | | | 0.1 | % |
| Consumer Finance | | | 454,911 | | | | 0.4 | % |
| Containers & Packaging | | | 223,487 | | | | 0.2 | % |
| Distributors | | | 123,225 | | | | 0.1 | % |
| Diversified Financial Services | | | 1,286,578 | | | | 1.1 | % |
| Diversified Telecommunication Services | | | 744,440 | | | | 0.7 | % |
| Electric Utilities | | | 1,484,236 | | | | 1.3 | % |
| Electrical Equipment | | | 438,338 | | | | 0.4 | % |
| Electronic Equipment, Instruments & Components | | | 512,101 | | | | 0.4 | % |
| Energy Equipment & Services | | | 343,937 | | | | 0.3 | % |
| Entertainment | | | 1,159,114 | | | | 1.0 | % |
| Equity Real Estate Investment Trusts (REITs) | | | 2,121,720 | | | | 1.9 | % |
| Food & Staples Retailing | | | 1,201,584 | | | | 1.0 | % |
| Food Products | | | 857,679 | | | | 0.7 | % |
| Gas Utilities | | | 37,730 | | | | NM | |
| Health Care Equipment & Supplies | | | 2,571,376 | | | | 2.2 | % |
| Health Care Providers & Services | | | 2,624,495 | | | | 2.3 | % |
| Hotels, Restaurants & Leisure | | | 1,642,534 | | | | 1.4 | % |
| Household Durables | | | 279,777 | | | | 0.2 | % |
| Household Products | | | 1,102,704 | | | | 1.0 | % |
| Independent Power and Renewable Electricity Producers | | | 41,992 | | | | NM | |
| Industrial Conglomerates | | | 668,596 | | | | 0.6 | % |
| Insurance | | | 1,866,858 | | | | 1.6 | % |
| Interactive Media & Services | | | 3,367,818 | | | | 2.9 | % |
| Internet & Direct Marketing Retail | | | 2,199,278 | | | | 1.9 | % |
| IT Services | | | 3,489,001 | | | | 3.1 | % |
| Leisure Products | | | 17,633 | | | | NM | |
| Life Sciences Tools & Services | | | 1,078,637 | | | | 0.9 | % |
| Machinery | | | 1,456,482 | | | | 1.3 | % |
| Media | | | 648,745 | | | | 0.6 | % |
| Metals & Mining | | | 387,659 | | | | 0.3 | % |
| Multiline Retail | | | 374,916 | | | | 0.3 | % |
| Multi-Utilities | | | 667,633 | | | | 0.6 | % |
| Oil, Gas & Consumable Fuels | | | 3,611,239 | | | | 3.2 | % |
| Personal Products | | | 146,852 | | | | 0.1 | % |
| Pharmaceuticals | | | 3,398,153 | | | | 3.0 | % |
| Professional Services | | | 288,119 | | | | 0.3 | % |
| Real Estate Management & Development | | | 61,909 | | | | 0.1 | % |
| Road & Rail | | | 672,308 | | | | 0.6 | % |
| Semiconductors & Semiconductor Equipment | | | 4,345,541 | | | | 3.8 | % |
| Software | | | 6,545,822 | | | | 5.7 | % |
| Specialty Retail | | | 1,819,567 | | | | 1.6 | % |
| Technology Hardware, Storage & Peripherals | | | 5,147,320 | | | | 4.5 | % |
| Textiles, Apparel & Luxury Goods | | | 427,738 | | | | 0.4 | % |
| Tobacco | | | 555,389 | | | | 0.5 | % |
| Trading Companies & Distributors | | | 197,200 | | | | 0.2 | % |
| Water Utilities | | | 65,100 | | | | 0.1 | % |
| Wireless Telecommunication Services | | | 204,405 | | | | 0.2 | % |
| Other** | | | 36,144,994 | | | | 31.6 | % |
| Total | | $ | 114,340,598 | | | | 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: UltraChina ProFund :: 143
Common Stocks (83.5%)
| | | Shares | | | Value | |
| 21Vianet Group, Inc.*ADR(a) (IT Services) | | | 20,028 | | | $ | 117,765 | |
| 360 DigiTech, Inc.ADR (Consumer Finance) | | | 5,524 | | | | 133,294 | |
| Alibaba Group Holding, Ltd.*ADR (Internet & Direct Marketing Retail) | | | 52,128 | | | | 5,744,505 | |
| Autohome, Inc.ADR (Interactive Media & Services) | | | 16,334 | | | | 569,403 | |
| Baidu, Inc.*ADR (Interactive Media & Services) | | | 12,791 | | | | 1,722,692 | |
| Beigene, Ltd.*ADR (Biotechnology) | | | 5,928 | | | | 1,517,568 | |
| Bilibili, Inc.*ADR(a) (Entertainment) | | | 45,529 | | | | 1,138,225 | |
| Canaan, Inc.*ADR(a) (Technology Hardware, Storage & Peripherals) | | | 29,711 | | | | 93,293 | |
| Chindata Group Holdings, Ltd.*ADR (IT Services) | | | 23,783 | | | | 197,161 | |
| Daqo New Energy Corp.*ADR (Semiconductors & Semiconductor Equipment) | | | 8,091 | | | | 368,221 | |
| GDS Holdings, Ltd.*ADR(a) (IT Services) | | | 16,407 | | | | 383,103 | |
| H World Group, Ltd.ADR (Hotels, Restaurants & Leisure) | | | 27,776 | | | | 1,318,804 | |
| Hello Group, Inc.ADR (Interactive Media & Services) | | | 25,522 | | | | 261,601 | |
| iQIYI, Inc.*ADR (Entertainment) | | | 58,738 | | | | 393,545 | |
| JD.com, Inc.ADR (Internet & Direct Marketing Retail) | | | 39,928 | | | | 2,376,914 | |
| JinkoSolar Holding Co., Ltd.*ADR (Semiconductors & Semiconductor Equipment) | | | 9,023 | | | | 508,717 | |
| JOYY, Inc.ADR (Interactive Media & Services) | | | 9,987 | | | | 356,336 | |
| KE Holdings, Inc.*ADR (Real Estate Management & Development) | | | 71,644 | | | | 1,313,951 | |
| Kingsoft Cloud Holdings, Ltd.*ADR (IT Services) | | | 1,387 | | | | 6,658 | |
| NetEase, Inc.ADR (Entertainment) | | | 21,032 | | | | 1,863,645 | |
| New Oriental Education & Technology Group, Inc.*ADR (Diversified Consumer Services) | | | 25,402 | | | | 1,083,141 | |
| NIO, Inc.*ADR (Automobiles) | | | 91,122 | | | | 1,099,843 | |
| Pinduoduo, Inc.*ADR (Internet & Direct Marketing Retail) | | | 18,885 | | | | 1,850,352 | |
| TAL Education Group*ADR (Diversified Consumer Services) | | | 82,955 | | | | 606,401 | |
| Tencent Music Entertainment Group*ADR (Entertainment) | | | 88,039 | | | | 738,647 | |
| Trip.com Group, Ltd.*ADR (Internet & Direct Marketing Retail) | | | 34,158 | | | | 1,255,648 | |
| Up Fintech Holding, Ltd.*ADR (Capital Markets) | | | 44 | | | | 178 | |
| Vipshop Holdings, Ltd.*ADR (Internet & Direct Marketing Retail) | | | 84,608 | | | | 1,308,886 | |
| Weibo Corp.*ADR (Interactive Media & Services) | | | 11,488 | | | | 261,352 | |
| Zai Lab, Ltd.*ADR (Biotechnology) | | | 13,483 | | | | 568,174 | |
| ZTO Express Cayman, Inc.ADR (Air Freight & Logistics) | | | 45,852 | | | | 1,307,241 | |
TOTAL COMMON STOCKS
(Cost $22,975,228) | | | | | | | 30,465,264 | |
Repurchase Agreements(b)(c) (20.4%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $7,441,870 | | $ | 7,441,000 | | | $ | 7,441,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $7,441,000) | | | | | | | 7,441,000 | |
Collateral for Securities Loaned(d) (3.6%)
| | | Shares | | | Value | |
| Invesco Government & Agency Portfolio—Institutional Shares, 4.32%(e) | | | 1,298,810 | | | $ | 1,298,810 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $1,298,810) | | | | | | | 1,298,810 | |
TOTAL INVESTMENT SECURITIES
(Cost $31,715,038)—107.5% | | | | | | | 39,205,074 | |
| Net other assets (liabilities)—(7.5)% | | | | | | | (2,726,438 | ) |
| NET ASSETS—100.0% | | | | | | $ | 36,478,636 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $1,247,460. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $3,116,000. |
| (d) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (e) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
| ADR | American Depositary Receipt |
See accompanying notes to the financial statements.
144 :: UltraChina ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (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 China Select ADR Index (USD) | | Goldman Sachs International | | 2/27/23 | | | 4.93 | % | | $ | 20,565,914 | | | $ | (1,053,423 | ) |
| S&P China Select ADR Index (USD) | | UBS AG | | 2/27/23 | | | 4.58 | % | | | 21,921,571 | | | | (1,030,066 | ) |
| | | | | | | | | | | $ | 42,487,485 | | | $ | (2,083,489 | ) |
| (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, 2023, 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, 2023:
| | | Value | | | % of
Net Assets | |
| Air Freight & Logistics | | $ | 1,307,240 | | | | 3.6 | % |
| Automobiles | | | 1,099,843 | | | | 3.0 | % |
| Biotechnology | | | 2,085,742 | | | | 5.7 | % |
| Capital Markets | | | 178 | | | | NM | |
| Consumer Finance | | | 133,294 | | | | 0.4 | % |
| Diversified Consumer Services | | | 1,689,542 | | | | 4.6 | % |
| Entertainment | | | 4,134,062 | | | | 11.4 | % |
| Hotels, Restaurants & Leisure | | | 1,318,804 | | | | 3.6 | % |
| Interactive Media & Services | | | 3,171,384 | | | | 8.7 | % |
| Internet & Direct Marketing Retail | | | 12,536,306 | | | | 34.3 | % |
| IT Services | | | 704,687 | | | | 1.9 | % |
| Real Estate Management & Development | | | 1,313,951 | | | | 3.6 | % |
| Semiconductors & Semiconductor Equipment | | | 876,938 | | | | 2.4 | % |
| Technology Hardware, Storage & Peripherals | | | 93,293 | | | | 0.3 | % |
| Other** | | | 6,013,372 | | | | 16.5 | % |
| Total | | $ | 36,478,636 | | | | 100.0 | % |
UltraChina ProFund invested in securities with exposure to the following countries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| China | | $ | 30,465,264 | | | | 83.5 | % |
| Other** | | | 6,013,372 | | | | 16.5 | % |
| Total | | $ | 36,478,636 | | | | 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: UltraDow 30 ProFund :: 145
Common Stocks (77.9%)
| | | Shares | | | Value | |
| 3M Co. (Industrial Conglomerates) | | | 4,505 | | | $ | 518,435 | |
| American Express Co. (Consumer Finance) | | | 4,504 | | | | 787,885 | |
| Amgen, Inc. (Biotechnology) | | | 4,506 | | | | 1,137,314 | |
| Apple, Inc. (Technology Hardware, Storage & Peripherals) | | | 4,505 | | | | 650,026 | |
| Caterpillar, Inc. (Machinery) | | | 4,506 | | | | 1,136,819 | |
| Chevron Corp. (Oil, Gas & Consumable Fuels) | | | 4,505 | | | | 783,960 | |
| Cisco Systems, Inc. (Communications Equipment) | | | 4,502 | | | | 219,112 | |
| Dow, Inc. (Chemicals) | | | 4,501 | | | | 267,134 | |
| Honeywell International, Inc. (Industrial Conglomerates) | | | 4,506 | | | | 939,411 | |
| Intel Corp. (Semiconductors & Semiconductor Equipment) | | | 4,499 | | | | 127,142 | |
| International Business Machines Corp. (IT Services) | | | 4,505 | | | | 606,959 | |
| Johnson & Johnson (Pharmaceuticals) | | | 4,507 | | | | 736,534 | |
| JPMorgan Chase & Co. (Banks) | | | 4,505 | | | | 630,520 | |
| McDonald's Corp. (Hotels, Restaurants & Leisure) | | | 4,506 | | | | 1,204,904 | |
| Merck & Co., Inc. (Pharmaceuticals) | | | 4,505 | | | | 483,882 | |
| Microsoft Corp. (Software) | | | 4,504 | | | | 1,116,137 | |
| NIKE, Inc.—Class B (Textiles, Apparel & Luxury Goods) | | | 4,505 | | | | 573,622 | |
| Salesforce, Inc.* (Software) | | | 4,505 | | | | 756,705 | |
| The Boeing Co.* (Aerospace & Defense) | | | 4,506 | | | | 959,778 | |
| The Coca-Cola Co. (Beverages) | | | 4,503 | | | | 276,124 | |
| The Goldman Sachs Group, Inc. (Capital Markets) | | | 4,504 | | | | 1,647,607 | |
| The Home Depot, Inc. (Specialty Retail) | | | 4,506 | | | | 1,460,710 | |
| The Procter & Gamble Co. (Household Products) | | | 4,504 | | | | 641,280 | |
| The Travelers Cos., Inc. (Insurance) | | | 4,505 | | | | 860,996 | |
| The Walt Disney Co.* (Entertainment) | | | 4,502 | | | | 488,422 | |
| UnitedHealth Group, Inc. (Health Care Providers & Services) | | | 4,506 | | | | 2,249,351 | |
| Verizon Communications, Inc. (Diversified Telecommunication Services) | | | 4,503 | | | | 187,190 | |
| Visa, Inc.—Class A (IT Services) | | | 4,506 | | | | 1,037,326 | |
| Walgreens Boots Alliance, Inc. (Food & Staples Retailing) | | | 4,505 | | | | 166,054 | |
| Walmart, Inc. (Food & Staples Retailing) | | | 4,505 | | | | 648,134 | |
TOTAL COMMON STOCKS
(Cost $9,654,062) | | | | | | | 23,299,473 | |
Repurchase Agreements(a)(b) (21.2%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $6,336,741 | | $ | 6,336,000 | | | $ | 6,336,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $6,336,000) | | | | | | | 6,336,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $15,990,062)—99.1% | | | | | | | 29,635,473 | |
| Net other assets (liabilities)—0.9% | | | | | | | 265,804 | |
| NET ASSETS—100.0% | | | | | | $ | 29,901,277 | |
| * | 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 the 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, 2023, the aggregate amount held in a segregated account was $4,220,000. |
Futures Contracts Purchased
| | | Number
of
Contracts | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini Dow Jones Futures Contracts | | 31 | | 3/20/23 | | $ | 5,294,180 | | | $ | 45,189 | |
| | | | | | | | | | | | | |
See accompanying notes to the financial statements.
146 :: UltraDow 30 ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (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 Industrial Average | | Goldman Sachs International | | 2/27/23 | | | 4.93 | % | | $ | 12,670,415 | | | $ | 32,366 | |
| SPDR Dow Jones Industrial Average ETF | | Goldman Sachs International | | 2/27/23 | | | 4.77 | % | | | 3,782,087 | | | | 11,538 | |
| | | | | | | | | | | $ | 16,452,502 | | | $ | 43,904 | |
| | | | | | | | | | | | | | | | | |
| Dow Jones Industrial Average | | UBS AG | | 2/27/23 | | | 4.48 | % | | $ | 11,566,246 | | | $ | 30,894 | |
| SPDR Dow Jones Industrial Average ETF | | UBS AG | | 2/27/23 | | | 4.63 | % | | | 3,133,546 | | | | 5,173 | |
| | | | | | | | | | | $ | 14,699,792 | | | $ | 36,067 | |
| | | | | | | | | | | $ | 31,152,294 | | | $ | 79,971 | |
| (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, 2023, 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). |
UltraDow 30 ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 959,778 | | | | 3.2 | % |
| Banks | | | 630,520 | | | | 2.1 | % |
| Beverages | | | 276,124 | | | | 0.9 | % |
| Biotechnology | | | 1,137,314 | | | | 3.8 | % |
| Capital Markets | | | 1,647,608 | | | | 5.5 | % |
| Chemicals | | | 267,134 | | | | 0.9 | % |
| Communications Equipment | | | 219,112 | | | | 0.7 | % |
| Consumer Finance | | | 787,885 | | | | 2.7 | % |
| Diversified Telecommunication Services | | | 187,190 | | | | 0.6 | % |
| Entertainment | | | 488,422 | | | | 1.6 | % |
| Food & Staples Retailing | | | 814,189 | | | | 2.7 | % |
| Health Care Providers & Services | | | 2,249,350 | | | | 7.5 | % |
| Hotels, Restaurants & Leisure | | | 1,204,904 | | | | 4.0 | % |
| Household Products | | | 641,280 | | | | 2.2 | % |
| Industrial Conglomerates | | | 1,457,846 | | | | 4.9 | % |
| Insurance | | | 860,996 | | | | 2.9 | % |
| IT Services | | | 1,644,285 | | | | 5.5 | % |
| Machinery | | | 1,136,819 | | | | 3.8 | % |
| Oil, Gas & Consumable Fuels | | | 783,960 | | | | 2.6 | % |
| Pharmaceuticals | | | 1,220,416 | | | | 4.1 | % |
| Semiconductors & Semiconductor Equipment | | | 127,142 | | | | 0.4 | % |
| Software | | | 1,872,841 | | | | 6.3 | % |
| Specialty Retail | | | 1,460,710 | | | | 4.9 | % |
| Technology Hardware, Storage & Peripherals | | | 650,026 | | | | 2.2 | % |
| Textiles, Apparel & Luxury Goods | | | 573,622 | | | | 1.9 | % |
| Other** | | | 6,601,804 | | | | 22.1 | % |
| Total | | $ | 29,901,277 | | | | 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: UltraEmerging Markets ProFund :: 147
Common Stocks (83.1%)
| | | Shares | | | Value | |
| Alibaba Group Holding, Ltd.*ADR (Internet & Direct Marketing Retail) | | | 12,164 | | | $ | 1,340,472 | |
| Ambev S.A.ADR (Beverages) | | | 28,415 | | | | 75,584 | |
| America Movil S.A.B. de C.V.ADR (Wireless Telecommunication Services) | | | 6,156 | | | | 128,845 | |
| AngloGold Ashanti, Ltd.ADR (Metals & Mining) | | | 2,697 | | | | 56,691 | |
| ASE Technology Holding Co., Ltd.ADR (Semiconductors & Semiconductor Equipment) | | | 10,967 | | | | 78,962 | |
| Baidu, Inc.*ADR (Interactive Media & Services) | | | 1,776 | | | | 239,192 | |
| Banco Bradesco S.A.ADR(a) (Banks) | | | 34,278 | | | | 95,636 | |
| Banco de ChileADR (Banks) | | | 1,399 | | | | 30,736 | |
| Beigene, Ltd.*ADR (Biotechnology) | | | 421 | | | | 107,776 | |
| Cemex S.A.B. de C.V.*ADR (Construction Materials) | | | 9,753 | | | | 52,081 | |
| Centrais Eletricas Brasileiras S.A.ADR (Electric Utilities) | | | 8,204 | | | | 66,042 | |
| Chunghwa Telecom Co., Ltd.ADR (Diversified Telecommunication Services) | | | 2,449 | | | | 90,735 | |
| Cia de Saneamento Basico do Estado de Sao PauloADR (Water Utilities) | | | 2,202 | | | | 24,244 | |
| Dr. Reddy's Laboratories, Ltd.ADR (Pharmaceuticals) | | | 783 | | | | 42,125 | |
| Fomento Economico Mexicano S.A.B. de C.V.ADR (Beverages) | | | 1,184 | | | | 103,955 | |
| Gerdau S.A.ADR (Metals & Mining) | | | 6,671 | | | | 43,362 | |
| Gold Fields, Ltd.ADR(a) (Metals & Mining) | | | 5,743 | | | | 65,700 | |
| Grupo Aeroportuario del Pacifico S.A.B. de C.V.ADR (Transportation Infrastructure) | | | 233 | | | | 40,209 | |
| Grupo Aeroportuario del Sureste S.A.B. de C.V.ADR (Transportation Infrastructure) | | | 121 | | | | 32,912 | |
| H World Group, Ltd.ADR (Hotels, Restaurants & Leisure) | | | 912 | | | | 43,302 | |
| HDFC Bank, Ltd.ADR (Banks) | | | 8,652 | | | | 582,800 | |
| ICICI Bank, Ltd.ADR (Banks) | | | 16,621 | | | | 346,215 | |
| Infosys, Ltd.ADR (IT Services) | | | 23,034 | | | | 433,039 | |
| Itau Unibanco Holding S.A.ADR (Banks) | | | 31,222 | | | | 155,485 | |
| JD.com, Inc.ADR (Internet & Direct Marketing Retail) | | | 6,485 | | | | 386,052 | |
| KB Financial Group, Inc.ADR (Banks) | | | 2,477 | | | | 113,522 | |
| KE Holdings, Inc.*ADR (Real Estate Management & Development) | | | 4,372 | | | | 80,182 | |
| Korea Electric Power Corp.*ADR (Electric Utilities) | | | 3,309 | | | | 26,538 | |
| NetEase, Inc.ADR (Entertainment) | | | 2,360 | | | | 209,120 | |
| New Oriental Education & Technology Group, Inc.*ADR (Diversified Consumer Services) | | | 962 | | | | 41,020 | |
| NIO, Inc.*ADR (Automobiles) | | | 9,151 | | | | 110,453 | |
| Petroleo Brasileiro S.A.ADR (Oil, Gas & Consumable Fuels) | | | 11,988 | | | | 139,061 | |
| Pinduoduo, Inc.*ADR (Internet & Direct Marketing Retail) | | | 3,503 | | | | 343,224 | |
| POSCOADR (Metals & Mining) | | | 1,896 | | | | 117,381 | |
| PT Telekomunikasi Indonesia TbkADR(a) (Diversified Telecommunication Services) | | | 3,064 | | | | 79,725 | |
| Sasol, Ltd.ADR (Chemicals) | | | 3,760 | | | | 68,883 | |
| Shinhan Financial Group Co., Ltd.ADR (Banks) | | | 3,305 | | | | 112,436 | |
| Sibanye Stillwater, Ltd.ADR(a) (Metals & Mining) | | | 4,559 | | | | 49,055 | |
| SK Telecom Co., Ltd.ADR (Wireless Telecommunication Services) | | | 1,243 | | | | 26,364 | |
| Sociedad Quimica y Minera de Chile S.A.ADR (Chemicals) | | | 920 | | | | 89,737 | |
| Suzano Papel e Celulose S.A.ADR (Paper & Forest Products) | | | 5,087 | | | | 46,699 | |
| Taiwan Semiconductor Manufacturing Co., Ltd.ADR (Semiconductors & Semiconductor Equipment) | | | 21,259 | | | | 1,971,348 | |
| Trip.com Group, Ltd.*ADR (Internet & Direct Marketing Retail) | | | 3,432 | | | | 126,160 | |
| United Microelectronics Corp.ADR(a) (Semiconductors & Semiconductor Equipment) | | | 14,959 | | | | 121,617 | |
| Vale S.A.ADR (Metals & Mining) | | | 23,440 | | | | 437,858 | |
| Wipro, Ltd.ADR (IT Services) | | | 9,544 | | | | 46,670 | |
| Woori Financial Group, Inc.ADR (Banks) | | | 1,392 | | | | 44,112 | |
| ZTO Express Cayman, Inc.ADR (Air Freight & Logistics) | | | 2,680 | | | | 76,407 | |
TOTAL COMMON STOCKS
(Cost $6,011,489) | | | | | | | 9,139,724 | |
Preferred Stock (1.4%)
| Petroleo Brasileiro S.A.ADR (Oil, Gas & Consumable Fuels) | | | 14,799 | | | | 152,726 | |
TOTAL PREFERRED STOCK
(Cost $82,516) | | | | | | | 152,726 | |
Repurchase Agreements(b)(c) (15.8%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $1,734,203 | | $ | 1,734,000 | | | $ | 1,734,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $1,734,000) | | | | | | | 1,734,000 | |
Collateral for Securities Loaned(d) (4.2%)
| | | Shares | | | Value | |
| Invesco Government & Agency Portfolio—Institutional Shares, 4.32%(e) | | | 456,350 | | | $ | 456,350 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $456,350) | | | | | | | 456,350 | |
TOTAL INVESTMENT SECURITIES
(Cost $8,284,355)—104.5% | | | | | | | 11,482,800 | |
| Net other assets (liabilities)—(4.5)% | | | | | | | (491,255 | ) |
| NET ASSETS—100.0% | | | | | | $ | 10,991,545 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $411,732. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $544,000. |
| (d) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (e) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
| ADR | American Depositary Receipt |
See accompanying notes to the financial statements.
148 :: UltraEmerging Markets ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (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 Emerging 50 ADR Index (USD) | | Goldman Sachs International | | 2/27/23 | | | 4.93 | % | | $ | 5,874,200 | | | $ | (135,358 | ) |
| S&P Emerging 50 ADR Index (USD) | | UBS AG | | 2/27/23 | | | 4.83 | % | | | 6,795,621 | | | | (134,051 | ) |
| | | | | | | | | | | $ | 12,669,821 | | | $ | (269,409 | ) |
| (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, 2023, 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, 2023:
| | | Value | | | % of
Net Assets | |
| Air Freight & Logistics | | $ | 76,407 | | | | 0.7 | % |
| Automobiles | | | 110,453 | | | | 1.0 | % |
| Banks | | | 1,480,941 | | | | 13.5 | % |
| Beverages | | | 179,539 | | | | 1.6 | % |
| Biotechnology | | | 107,776 | | | | 1.0 | % |
| Chemicals | | | 158,620 | | | | 1.4 | % |
| Construction Materials | | | 52,081 | | | | 0.5 | % |
| Diversified Consumer Services | | | 41,020 | | | | 0.4 | % |
| Diversified Telecommunication Services | | | 170,461 | | | | 1.5 | % |
| Electric Utilities | | | 92,580 | | | | 0.8 | % |
| Entertainment | | | 209,120 | | | | 1.9 | % |
| Hotels, Restaurants & Leisure | | | 43,302 | | | | 0.4 | % |
| Interactive Media & Services | | | 239,192 | | | | 2.2 | % |
| Internet & Direct Marketing Retail | | | 2,195,909 | | | | 20.0 | % |
| IT Services | | | 479,709 | | | | 4.4 | % |
| Metals & Mining | | | 770,048 | | | | 7.0 | % |
| Oil, Gas & Consumable Fuels | | | 291,786 | | | | 2.7 | % |
| Paper & Forest Products | | | 46,699 | | | | 0.4 | % |
| Pharmaceuticals | | | 42,125 | | | | 0.4 | % |
| Real Estate Management & Development | | | 80,182 | | | | 0.7 | % |
| Semiconductors & Semiconductor Equipment | | | 2,171,926 | | | | 19.7 | % |
| Transportation Infrastructure | | | 73,121 | | | | 0.7 | % |
| Water Utilities | | | 24,244 | | | | 0.2 | % |
| Wireless Telecommunication Services | | | 155,209 | | | | 1.4 | % |
| Other** | | | 1,699,095 | | | | 15.5 | % |
| Total | | $ | 10,991,545 | | | | 100.0 | % |
UltraEmerging Markets ProFund invested in securities with exposure to the following countries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Brazil | | $ | 1,236,697 | | | | 11.3 | % |
| Chile | | | 120,473 | | | | 1.1 | % |
| China | | | 3,129,724 | | | | 28.3 | % |
| India | | | 1,450,849 | | | | 13.2 | % |
| Indonesia | | | 79,725 | | | | 0.7 | % |
| Mexico | | | 358,002 | | | | 3.3 | % |
| South Africa | | | 240,329 | | | | 2.2 | % |
| South Korea | | | 413,989 | | | | 3.8 | % |
| Taiwan | | | 2,262,662 | | | | 20.6 | % |
| Other** | | | 1,699,095 | | | | 15.5 | % |
| Total | | $ | 10,991,545 | | | | 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: UltraInternational ProFund :: 149
Repurchase Agreements(a)(b) (102.3%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $6,967,815 | | $ | 6,967,000 | | | $ | 6,967,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $6,967,000) | | | | | | | 6,967,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $6,967,000)—102.3% | | | | | | | 6,967,000 | |
| Net other assets (liabilities)—(2.3)% | | | | | | | (155,963 | ) |
| NET ASSETS—100.0% | | | | | | $ | 6,811,037 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $428,000. |
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 | | 2/27/23 | | | 4.83 | % | | $ | 6,271,092 | | | $ | (10,239 | ) |
| MSCI EAFE Index | | UBS AG | | 2/27/23 | | | 5.13 | % | | | 7,347,438 | | | | (6,945 | ) |
| | | | | | | | | | | $ | 13,618,530 | | | $ | (17,184 | ) |
| (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, 2023, 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, 2023 (unaudited)
Repurchase Agreements(a) (88.4%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $11,102,298 | | $ | 11,101,000 | | | $ | 11,101,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $11,101,000) | | | | | | | 11,101,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $11,101,000)—88.4% | | | | | | | 11,101,000 | |
| Net other assets (liabilities)—11.6% | | | | | | | 1,450,407 | |
| NET ASSETS—100.0% | | | | | | $ | 12,551,407 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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 | | | 182 | | | 3/10/23 | | $ | 25,047,750 | | | $ | 73,084 | |
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 | | 2/27/23 | | | 4.78 | % | | $ | 95,630 | | | $ | 225 | |
| (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, 2023, 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: UltraLatin America ProFund :: 151
Common Stocks (82.2%)
| | | Shares | | | Value | |
| Ambev S.A.ADR (Beverages) | | | 139,806 | | | $ | 371,884 | |
| America Movil S.A.B. de C.V.ADR (Wireless Telecommunication Services) | | | 27,486 | | | | 575,282 | |
| Banco Bradesco S.A.ADR(a) (Banks) | | | 148,636 | | | | 414,694 | |
| Banco de ChileADR (Banks) | | | 8,182 | | | | 179,759 | |
| Banco Santander Brasil S.A.ADR (Banks) | | | 12,708 | | | | 72,181 | |
| Banco Santander ChileADR (Banks) | | | 5,856 | | | | 99,025 | |
| Bancolombia S.A.ADR (Banks) | | | 4,258 | | | | 128,805 | |
| Cemex S.A.B. de C.V.*ADR (Construction Materials) | | | 57,023 | | | | 304,503 | |
| Centrais Eletricas Brasileiras S.A.ADR (Electric Utilities) | | | 50,310 | | | | 404,995 | |
| Cia de Minas Buenaventura S.A.AADR (Metals & Mining) | | | 9,073 | | | | 73,401 | |
| Cia de Saneamento Basico do Estado de Sao PauloADR (Water Utilities) | | | 12,874 | | | | 141,743 | |
| Cia Energetica de Minas GeraisADR (Electric Utilities) | | | 55,205 | | | | 123,659 | |
| Cia Paranaense de EnergiaADR(a) (Electric Utilities) | | | 9,646 | | | | 72,249 | |
| Cia Siderurgica Nacional S.A.ADR(a) (Metals & Mining) | | | 22,626 | | | | 83,264 | |
| Coca-Cola Femsa S.A.B. de C.V.ADR (Beverages) | | | 1,978 | | | | 150,684 | |
| Ecopetrol S.A.ADR (Oil, Gas & Consumable Fuels) | | | 9,293 | | | | 105,847 | |
| Embraer SA*ADR (Aerospace & Defense) | | | 6,555 | | | | 84,494 | |
| Fomento Economico Mexicano S.A.B. de C.V.ADR (Beverages) | | | 5,501 | | | | 482,987 | |
| Gerdau S.A.ADR (Metals & Mining) | | | 39,003 | | | | 253,519 | |
| Grupo Aeroportuario del Pacifico S.A.B. de C.V.ADR (Transportation Infrastructure) | | | 1,364 | | | | 235,386 | |
| Grupo Aeroportuario del Pacifico S.A.B. de C.V.ADR (Transportation Infrastructure) | | | 1,282 | | | | 93,650 | |
| Grupo Aeroportuario del Sureste S.A.B. de C.V.ADR (Transportation Infrastructure) | | | 710 | | | | 193,120 | |
| Grupo Televisa S.A.B.ADR (Media) | | | 19,062 | | | | 117,231 | |
| Itau Unibanco Holding S.A.ADR (Banks) | | | 139,401 | | | | 694,218 | |
| Natura & Co. Holding S.A.ADR(a) (Personal Products) | | | 15,891 | | | | 91,691 | |
| Petroleo Brasileiro S.A.ADR (Oil, Gas & Consumable Fuels) | | | 53,525 | | | | 620,890 | |
| Sendas Distribuidora S.A.ADR(a) (Food & Staples Retailing) | | | 7,013 | | | | 135,281 | |
| Sociedad Quimica y Minera de Chile S.A.ADR (Chemicals) | | | 4,438 | | | | 432,882 | |
| Suzano Papel e Celulose S.A.ADR (Paper & Forest Products) | | | 29,742 | | | | 273,032 | |
| Telefonica Brasil S.A.ADR(a) (Diversified Telecommunication Services) | | | 15,793 | | | | 128,397 | |
| Ternium S.A.ADR (Metals & Mining) | | | 1,829 | | | | 73,800 | |
| TIM S.A.ADR(a) (Wireless Telecommunication Services) | | | 6,019 | | | | 69,700 | |
| Ultrapar Participacoes S.A.ADR (Oil, Gas & Consumable Fuels) | | | 27,305 | | | | 71,266 | |
| Vale S.A.ADR (Metals & Mining) | | | 111,356 | | | | 2,080,129 | |
TOTAL COMMON STOCKS
(Cost $5,549,967) | | | | | | | 9,433,648 | |
Preferred Stock (5.9%)
| | | Shares | | | Value | |
| Petroleo Brasileiro S.A.ADR (Oil, Gas & Consumable Fuels) | | | 66,074 | | | $ | 681,884 | |
TOTAL PREFERRED STOCK
(Cost $316,529) | | | | | | | 681,884 | |
Repurchase Agreements(b)(c) (12.7%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $1,463,171 | | $ | 1,463,000 | | | $ | 1,463,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $1,463,000) | | | | | | | 1,463,000 | |
Collateral for Securities Loaned(d) (8.6%)
| | | Shares | | | Value | |
| Invesco Government & Agency Portfolio—Institutional Shares, 4.32%(e) | | | 984,950 | | | $ | 984,950 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $984,950) | | | | | | | 984,950 | |
TOTAL INVESTMENT SECURITIES
(Cost $8,314,446)—109.4% | | | | | | | 12,563,482 | |
| Net other assets (liabilities)—(9.4)% | | | | | | | (1,083,087 | ) |
| NET ASSETS—100.0% | | | | | | $ | 11,480,395 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $945,382. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $485,000. |
| (d) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (e) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
| ADR | American Depositary Receipt |
See accompanying notes to the financial statements.
152 :: UltraLatin America ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (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 Latin America 35 ADR Index (USD) | | Goldman Sachs International | | 2/27/23 | | | 4.93 | % | | $ | 6,977,816 | | | $ | 80,028 | |
| S&P Latin America 35 ADR Index (USD) | | UBS AG | | 2/27/23 | | | 4.83 | % | | | 5,778,711 | | | | 68,358 | |
| | | | | | | | | | | $ | 12,756,527 | | | $ | 148,386 | |
| (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, 2023, 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, 2023:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 84,494 | | | | 0.7 | % |
| Banks | | | 1,588,681 | | | | 13.8 | % |
| Beverages | | | 1,005,556 | | | | 8.8 | % |
| Chemicals | | | 432,882 | | | | 3.8 | % |
| Construction Materials | | | 304,503 | | | | 2.7 | % |
| Diversified Telecommunication Services | | | 128,397 | | | | 1.1 | % |
| Electric Utilities | | | 600,903 | | | | 5.2 | % |
| Food & Staples Retailing | | | 135,281 | | | | 1.2 | % |
| Media | | | 117,231 | | | | 1.0 | % |
| Metals & Mining | | | 2,564,114 | | | | 22.2 | % |
| Oil, Gas & Consumable Fuels | | | 1,479,887 | | | | 12.9 | % |
| Paper & Forest Products | | | 273,031 | | | | 2.4 | % |
| Personal Products | | | 91,691 | | | | 0.8 | % |
| Transportation Infrastructure | | | 522,156 | | | | 4.5 | % |
| Water Utilities | | | 141,743 | | | | 1.2 | % |
| Wireless Telecommunication Services | | | 644,982 | | | | 5.6 | % |
| Other** | | | 1,364,863 | | | | 12.1 | % |
| Total | | $ | 11,480,395 | | | | 100.0 | % |
UltraLatin America ProFund invested in securities with exposure to the following countries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Brazil | | $ | 6,869,169 | | | | 59.7 | % |
| Chile | | | 711,666 | | | | 6.2 | % |
| Colombia | | | 234,652 | | | | 2.0 | % |
| Luxembourg | | | 73,800 | | | | 0.6 | % |
| Mexico | | | 2,152,844 | | | | 18.8 | % |
| Peru | | | 73,401 | | | | 0.6 | % |
| Other** | | | 1,364,863 | | | | 12.1 | % |
| Total | | $ | 11,480,395 | | | | 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: UltraMid-Cap ProFund :: 153
Common Stocks (69.7%)
| | | Shares | | | Value | |
| Acadia Healthcare Co., Inc.* (Health Care Providers & Services) | | | 1,358 | | | $ | 114,098 | |
| ACI Worldwide, Inc.* (Software) | | | 1,677 | | | | 46,839 | |
| Acuity Brands, Inc. (Electrical Equipment) | | | 480 | | | | 90,490 | |
| Adient PLC* (Auto Components) | | | 1,415 | | | | 63,703 | |
| AECOM (Construction & Engineering) | | | 2,085 | | | | 181,958 | |
| Affiliated Managers Group, Inc. (Capital Markets) | | | 562 | | | | 97,080 | |
| AGCO Corp. (Machinery) | | | 925 | | | | 127,770 | |
| Alcoa Corp. (Metals & Mining) | | | 2,642 | | | | 138,018 | |
| Allegro MicroSystems, Inc.* (Semiconductors & Semiconductor Equipment) | | | 971 | | | | 37,063 | |
| ALLETE, Inc. (Electric Utilities) | | | 854 | | | | 52,828 | |
| Amedisys, Inc.* (Health Care Providers & Services) | | | 485 | | | | 46,880 | |
| American Financial Group, Inc. (Insurance) | | | 1,042 | | | | 148,579 | |
| Amkor Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,499 | | | | 43,861 | |
| Annaly Capital Management, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 6,985 | | | | 163,938 | |
| Antero Midstream Corp. (Oil, Gas & Consumable Fuels) | | | 5,000 | | | | 54,500 | |
| Antero Resources Corp.* (Oil, Gas & Consumable Fuels) | | | 4,123 | | | | 118,908 | |
| Apartment Income REIT Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 2,239 | | | | 85,664 | |
| AptarGroup, Inc. (Containers & Packaging) | | | 975 | | | | 112,749 | |
| Arrow Electronics, Inc.* (Electronic Equipment, Instruments & Components) | | | 919 | | | | 107,973 | |
| Arrowhead Pharmaceuticals, Inc.* (Biotechnology) | | | 1,581 | | | | 55,319 | |
| ASGN, Inc.* (Professional Services) | | | 745 | | | | 67,758 | |
| Ashland, Inc. (Chemicals) | | | 744 | | | | 81,297 | |
| Aspen Technology, Inc.* (Software) | | | 433 | | | | 86,059 | |
| Associated Banc-Corp. (Banks) | | | 2,245 | | | | 50,310 | |
| AutoNation, Inc.* (Specialty Retail) | | | 510 | | | | 64,627 | |
| Avient Corp. (Chemicals) | | | 1,277 | | | | 51,744 | |
| Avis Budget Group, Inc.* (Road & Rail) | | | 372 | | | | 74,415 | |
| Avnet, Inc. (Electronic Equipment, Instruments & Components) | | | 1,366 | | | | 62,672 | |
| Axon Enterprise, Inc.* (Aerospace & Defense) | | | 1,009 | | | | 197,199 | |
| Azenta, Inc.* (Life Sciences Tools & Services) | | | 1,121 | | | | 62,664 | |
| Bank of Hawaii Corp. (Banks) | | | 598 | | | | 45,741 | |
| Bank OZK (Banks) | | | 1,653 | | | | 75,493 | |
| Belden, Inc. (Electronic Equipment, Instruments & Components) | | | 639 | | | | 51,817 | |
| BellRing Brands, Inc.* (Personal Products) | | | 2,022 | | | | 57,344 | |
| BJ's Wholesale Club Holdings, Inc.* (Food & Staples Retailing) | | | 2,017 | | | | 146,171 | |
| Black Hills Corp. (Multi-Utilities) | | | 972 | | | | 70,353 | |
| Blackbaud, Inc.* (Software) | | | 665 | | | | 41,370 | |
| Boyd Gaming Corp. (Hotels, Restaurants & Leisure) | | | 1,184 | | | | 73,775 | |
| Brighthouse Financial, Inc.* (Insurance) | | | 1,032 | | | | 58,071 | |
| Brixmor Property Group, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 4,478 | | | | 105,367 | |
| Bruker Corp. (Life Sciences Tools & Services) | | | 1,493 | | | | 104,689 | |
| Brunswick Corp. (Leisure Products) | | | 1,083 | | | | 91,329 | |
| Builders FirstSource, Inc.* (Building Products) | | | 2,197 | | | | 175,101 | |
| Cable One, Inc. (Media) | | | 72 | | | | 56,871 | |
| Cabot Corp. (Chemicals) | | | 839 | | | | 63,202 | |
| CACI International, Inc.*—Class A (Professional Services) | | | 351 | | | | 108,139 | |
| Cadence Bank (Banks) | | | 2,724 | | | | 69,680 | |
| Calix, Inc.* (Communications Equipment) | | | 850 | | | | 44,744 | |
| Capri Holdings, Ltd.* (Textiles, Apparel & Luxury Goods) | | | 1,923 | | | | 127,860 | |
| Carlisle Cos., Inc. (Building Products) | | | 772 | | | | 193,664 | |
| Carter's, Inc. (Textiles, Apparel & Luxury Goods) | | | 570 | | | | 47,521 | |
| Casey's General Stores, Inc. (Food & Staples Retailing) | | | 556 | | | | 131,166 | |
| Cathay General Bancorp (Banks) | | | 1,111 | | | | 48,840 | |
| Celsius Holdings, Inc.* (Beverages) | | | 603 | | | | 60,493 | |
| ChampionX Corp. (Energy Equipment & Services) | | | 2,976 | | | | 98,268 | |
| Chart Industries, Inc.* (Machinery) | | | 625 | | | | 83,738 | |
| Chemed Corp. (Health Care Providers & Services) | | | 222 | | | | 112,141 | |
| Choice Hotels International, Inc. (Hotels, Restaurants & Leisure) | | | 413 | | | | 50,754 | |
| Churchill Downs, Inc. (Hotels, Restaurants & Leisure) | | | 492 | | | | 122,065 | |
| Ciena Corp.* (Communications Equipment) | | | 2,212 | | | | 115,069 | |
| Cirrus Logic, Inc.* (Semiconductors & Semiconductor Equipment) | | | 822 | | | | 74,301 | |
| Clean Harbors, Inc.* (Commercial Services & Supplies) | | | 751 | | | | 97,855 | |
| Cleveland-Cliffs, Inc.* (Metals & Mining) | | | 7,693 | | | | 164,246 | |
| CNO Financial Group, Inc. (Insurance) | | | 1,708 | | | | 43,998 | |
| CNX Resources Corp.* (Oil, Gas & Consumable Fuels) | | | 2,694 | | | | 45,071 | |
| Coca-Cola Consolidated, Inc. (Beverages) | | | 69 | | | | 34,968 | |
| Cognex Corp. (Electronic Equipment, Instruments & Components) | | | 2,582 | | | | 141,339 | |
| Coherent Corp.* (Electronic Equipment, Instruments & Components) | | | 2,070 | | | | 89,838 | |
| Columbia Sportswear Co. (Textiles, Apparel & Luxury Goods) | | | 529 | | | | 50,731 | |
| Commerce Bancshares, Inc. (Banks) | | | 1,703 | | | | 113,352 | |
| Commercial Metals Co. (Metals & Mining) | | | 1,752 | | | | 95,081 | |
| CommVault Systems, Inc.* (Software) | | | 664 | | | | 41,321 | |
| Concentrix Corp. (IT Services) | | | 632 | | | | 89,624 | |
| Corporate Office Properties Trust (Equity Real Estate Investment Trusts (REITs)) | | | 1,678 | | | | 47,101 | |
| Coty, Inc.*—Class A (Personal Products) | | | 5,457 | | | | 54,352 | |
| Cousins Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 2,261 | | | | 61,997 | |
| Cracker Barrel Old Country Store, Inc. (Hotels, Restaurants & Leisure) | | | 331 | | | | 36,933 | |
| Crane Holdings Co. (Machinery) | | | 712 | | | | 82,528 | |
| Crocs, Inc.* (Textiles, Apparel & Luxury Goods) | | | 922 | | | | 112,272 | |
| CubeSmart (Equity Real Estate Investment Trusts (REITs)) | | | 3,353 | | | | 153,533 | |
| Cullen/Frost Bankers, Inc. (Banks) | | | 960 | | | | 125,069 | |
| Curtiss-Wright Corp. (Aerospace & Defense) | | | 572 | | | | 94,838 | |
| Dana, Inc. (Auto Components) | | | 1,904 | | | | 34,539 | |
| Darling Ingredients, Inc.* (Food Products) | | | 2,393 | | | | 158,632 | |
| Deckers Outdoor Corp.* (Textiles, Apparel & Luxury Goods) | | | 395 | | | | 168,854 | |
| Dick's Sporting Goods, Inc. (Specialty Retail) | | | 830 | | | | 108,531 | |
See accompanying notes to the financial statements.
154 :: UltraMid-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Donaldson Co., Inc. (Machinery) | | | 1,829 | | | $ | 114,038 | |
| Douglas Emmett, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 2,623 | | | | 43,935 | |
| DT Midstream, Inc. (Oil, Gas & Consumable Fuels) | | | 1,444 | | | | 78,929 | |
| Dycom Industries, Inc.* (Construction & Engineering) | | | 439 | | | | 41,867 | |
| Dynatrace, Inc.* (Software) | | | 3,009 | | | | 115,636 | |
| Eagle Materials, Inc. (Construction Materials) | | | 550 | | | | 80,344 | |
| East West Bancorp, Inc. (Banks) | | | 2,105 | | | | 165,285 | |
| EastGroup Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 651 | | | | 109,531 | |
| EMCOR Group, Inc. (Construction & Engineering) | | | 712 | | | | 105,554 | |
| Encompass Health Corp. (Health Care Providers & Services) | | | 1,490 | | | | 93,051 | |
| Energizer Holdings, Inc. (Household Products) | | | 989 | | | | 36,692 | |
| EnerSys (Electrical Equipment) | | | 609 | | | | 50,559 | |
| Enovis Corp.* (Health Care Equipment & Supplies) | | | 711 | | | | 44,757 | |
| Envestnet, Inc.* (Software) | | | 826 | | | | 53,690 | |
| Envista Holdings Corp.* (Health Care Equipment & Supplies) | | | 2,435 | | | | 94,941 | |
| EPR Properties (Equity Real Estate Investment Trusts (REITs)) | | | 1,120 | | | | 47,578 | |
| Equitrans Midstream Corp. (Oil, Gas & Consumable Fuels) | | | 6,461 | | | | 46,842 | |
| Esab Corp. (Machinery) | | | 772 | | | | 44,629 | |
| Essent Group, Ltd. (Thrifts & Mortgage Finance) | | | 1,608 | | | | 70,800 | |
| Essential Utilities, Inc. (Water Utilities) | | | 3,564 | | | | 166,546 | |
| Euronet Worldwide, Inc.* (IT Services) | | | 704 | | | | 79,327 | |
| Evercore, Inc. (Capital Markets) | | | 533 | | | | 69,189 | |
| Exelixis, Inc.* (Biotechnology) | | | 4,816 | | | | 84,858 | |
| ExlService Holdings, Inc.* (IT Services) | | | 494 | | | | 84,276 | |
| F.N.B. Corp. (Banks) | | | 5,236 | | | | 74,718 | |
| Fair Isaac Corp.* (Software) | | | 373 | | | | 248,398 | |
| Federated Hermes, Inc.—Class B (Capital Markets) | | | 1,262 | | | | 49,597 | |
| First American Financial Corp. (Insurance) | | | 1,546 | | | | 95,651 | |
| First Financial Bankshares, Inc. (Banks) | | | 1,938 | | | | 69,032 | |
| First Horizon Corp. (Banks) | | | 8,012 | | | | 198,136 | |
| First Industrial Realty Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,972 | | | | 105,206 | |
| FirstCash Holdings, Inc. (Consumer Finance) | | | 560 | | | | 51,621 | |
| Five Below, Inc.* (Specialty Retail) | | | 829 | | | | 163,421 | |
| Flowers Foods, Inc. (Food Products) | | | 2,869 | | | | 79,443 | |
| Flowserve Corp. (Machinery) | | | 1,951 | | | | 67,153 | |
| Fluor Corp.* (Construction & Engineering) | | | 2,121 | | | | 77,947 | |
| Foot Locker, Inc. (Specialty Retail) | | | 1,184 | | | | 51,516 | |
| Fortune Brands Innovations, Inc. (Building Products) | | | 1,915 | | | | 123,537 | |
| Fox Factory Holding Corp.* (Auto Components) | | | 631 | | | | 74,515 | |
| Frontier Communications Parent, Inc.* (Diversified Telecommunication Services) | | | 3,329 | | | | 98,572 | |
| FTI Consulting, Inc.* (Professional Services) | | | 514 | | | | 81,993 | |
| Fulton Financial Corp. (Banks) | | | 2,500 | | | | 41,825 | |
| GameStop Corp.*(a)—Class A (Specialty Retail) | | | 3,771 | | | | 82,472 | |
| GATX Corp. (Trading Companies & Distributors) | | | 526 | | | | 60,201 | |
| Genpact, Ltd. (IT Services) | | | 2,517 | | | | 119,004 | |
| Gentex Corp. (Auto Components) | | | 3,502 | | | | 103,344 | |
| Glacier Bancorp, Inc. (Banks) | | | 1,654 | | | | 75,406 | |
| Globus Medical, Inc.* (Health Care Equipment & Supplies) | | | 1,156 | | | | 87,278 | |
| Graco, Inc. (Machinery) | | | 2,516 | | | | 171,893 | |
| Graham Holdings Co.—Class B (Diversified Consumer Services) | | | 57 | | | | 37,239 | |
| Grand Canyon Education, Inc.* (Diversified Consumer Services) | | | 458 | | | | 53,384 | |
| Greif, Inc.—Class A (Containers & Packaging) | | | 382 | | | | 27,286 | |
| Grocery Outlet Holding Corp.* (Food & Staples Retailing) | | | 1,321 | | | | 40,145 | |
| GXO Logistics, Inc.* (Air Freight & Logistics) | | | 1,771 | | | | 92,677 | |
| H&R Block, Inc. (Diversified Consumer Services) | | | 2,321 | | | | 90,473 | |
| Haemonetics Corp.* (Health Care Equipment & Supplies) | | | 756 | | | | 63,958 | |
| Halozyme Therapeutics, Inc.* (Biotechnology) | | | 2,019 | | | | 104,524 | |
| Hancock Whitney Corp. (Banks) | | | 1,280 | | | | 65,894 | |
| Hanesbrands, Inc. (Textiles, Apparel & Luxury Goods) | | | 5,209 | | | | 43,964 | |
| Harley-Davidson, Inc. (Automobiles) | | | 1,986 | | | | 91,415 | |
| Hawaiian Electric Industries, Inc. (Electric Utilities) | | | 1,635 | | | | 69,111 | |
| Healthcare Realty Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 5,681 | | | | 122,312 | |
| HealthEquity, Inc.* (Health Care Providers & Services) | | | 1,262 | | | | 76,793 | |
| Helen of Troy, Ltd.* (Household Durables) | | | 358 | | | | 40,493 | |
| Hexcel Corp. (Aerospace & Defense) | | | 1,257 | | | | 88,719 | |
| HF Sinclair Corp. (Oil, Gas & Consumable Fuels) | | | 2,008 | | | | 114,255 | |
| Highwoods Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,570 | | | | 47,681 | |
| Home BancShares, Inc. (Banks) | | | 2,832 | | | | 67,600 | |
| Hubbell, Inc. (Electrical Equipment) | | | 802 | | | | 183,586 | |
| IAA, Inc.* (Commercial Services & Supplies) | | | 1,997 | | | | 83,335 | |
| ICU Medical, Inc.* (Health Care Equipment & Supplies) | | | 301 | | | | 58,162 | |
| IDACORP, Inc. (Electric Utilities) | | | 755 | | | | 79,887 | |
| Inari Medical, Inc.* (Health Care Equipment & Supplies) | | | 721 | | | | 41,133 | |
| Independence Realty Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 3,341 | | | | 62,911 | |
| Ingevity Corp.* (Chemicals) | | | 525 | | | | 43,281 | |
| Ingredion, Inc. (Food Products) | | | 979 | | | | 100,641 | |
| Insperity, Inc. (Professional Services) | | | 532 | | | | 58,813 | |
| Integra LifeSciences Holdings Corp.* (Health Care Equipment & Supplies) | | | 1,085 | | | | 62,171 | |
| Interactive Brokers Group, Inc. (Capital Markets) | | | 1,536 | | | | 122,787 | |
| International Bancshares Corp. (Banks) | | | 788 | | | | 36,934 | |
| IPG Photonics Corp. (Electronic Equipment, Instruments & Components) | | | 480 | | | | 53,808 | |
| Iridium Communications, Inc.* (Diversified Telecommunication Services) | | | 1,876 | | | | 112,260 | |
| ITT, Inc. (Machinery) | | | 1,235 | | | | 113,114 | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: UltraMid-Cap ProFund :: 155
Common Stocks, continued
| | | Shares | | | Value | |
| Jabil, Inc. (Electronic Equipment, Instruments & Components) | | | 2,010 | | | $ | 158,045 | |
| Janus Henderson Group PLC (Capital Markets) | | | 1,978 | | | | 51,270 | |
| Jazz Pharmaceuticals PLC* (Pharmaceuticals) | | | 940 | | | | 147,261 | |
| JBG Smith Properties (Equity Real Estate Investment Trusts (REITs)) | | | 1,477 | | | | 29,747 | |
| Jefferies Financial Group, Inc. (Diversified Financial Services) | | | 2,736 | | | | 107,470 | |
| JetBlue Airways Corp.* (Airlines) | | | 4,835 | | | | 38,680 | |
| John Wiley & Sons, Inc.—Class A (Media) | | | 641 | | | | 29,358 | |
| Jones Lang LaSalle, Inc.* (Real Estate Management & Development) | | | 709 | | | | 131,073 | |
| KB Home (Household Durables) | | | 1,240 | | | | 47,678 | |
| KBR, Inc. (Professional Services) | | | 2,048 | | | | 104,919 | |
| Kemper Corp. (Insurance) | | | 954 | | | | 56,028 | |
| Kennametal, Inc. (Machinery) | | | 1,203 | | | | 34,286 | |
| Kilroy Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 1,570 | | | | 64,433 | |
| Kinsale Capital Group, Inc. (Insurance) | | | 322 | | | | 89,658 | |
| Kirby Corp.* (Marine) | | | 895 | | | | 63,348 | |
| Kite Realty Group Trust (Equity Real Estate Investment Trusts (REITs)) | | | 3,271 | | | | 70,981 | |
| Knight-Swift Transportation Holdings, Inc. (Road & Rail) | | | 2,399 | | | | 141,780 | |
| Kohl's Corp. (Multiline Retail) | | | 1,741 | | | | 56,356 | |
| Kyndryl Holdings, Inc.* (IT Services) | | | 3,046 | | | | 40,786 | |
| Lamar Advertising Co.—Class A (Equity Real Estate Investment Trusts (REITs)) | | | 1,303 | | | | 138,821 | |
| Lancaster Colony Corp. (Food Products) | | | 296 | | | | 56,805 | |
| Landstar System, Inc. (Road & Rail) | | | 536 | | | | 92,637 | |
| Lantheus Holdings, Inc.* (Health Care Equipment & Supplies) | | | 1,028 | | | | 59,110 | |
| Lattice Semiconductor Corp.* (Semiconductors & Semiconductor Equipment) | | | 2,046 | | | | 155,066 | |
| Lear Corp. (Auto Components) | | | 882 | | | | 128,578 | |
| Leggett & Platt, Inc. (Household Durables) | | | 1,980 | | | | 72,389 | |
| Lennox International, Inc. (Building Products) | | | 481 | | | | 125,358 | |
| LHC Group, Inc.* (Health Care Providers & Services) | | | 463 | | | | 73,432 | |
| Life Storage, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,269 | | | | 137,102 | |
| Light & Wonder, Inc.* (Hotels, Restaurants & Leisure) | | | 1,399 | | | | 91,285 | |
| Lincoln Electric Holdings, Inc. (Machinery) | | | 862 | | | | 143,842 | |
| Lithia Motors, Inc. (Specialty Retail) | | | 408 | | | | 107,386 | |
| Littelfuse, Inc. (Electronic Equipment, Instruments & Components) | | | 370 | | | | 94,975 | |
| LivaNova PLC* (Health Care Equipment & Supplies) | | | 799 | | | | 44,904 | |
| Louisiana-Pacific Corp. (Paper & Forest Products) | | | 1,071 | | | | 72,924 | |
| Lumentum Holdings, Inc.* (Communications Equipment) | | | 1,018 | | | | 61,263 | |
| MACOM Technology Solutions Holdings, Inc.* (Semiconductors & Semiconductor Equipment) | | | 763 | | | | 51,136 | |
| Macy's, Inc. (Multiline Retail) | | | 4,045 | | | | 95,584 | |
| Manhattan Associates, Inc.* (Software) | | | 932 | | | | 121,496 | |
| ManpowerGroup, Inc. (Professional Services) | | | 755 | | | | 65,806 | |
| Marriott Vacations Worldwide Corp. (Hotels, Restaurants & Leisure) | | | 572 | | | | 91,543 | |
| Masimo Corp.* (Health Care Equipment & Supplies) | | | 722 | | | | 122,798 | |
| MasTec, Inc.* (Construction & Engineering) | | | 880 | | | | 86,442 | |
| Matador Resources Co. (Oil, Gas & Consumable Fuels) | | | 1,676 | | | | 110,884 | |
| Mattel, Inc.* (Leisure Products) | | | 5,291 | | | | 108,254 | |
| Maximus, Inc. (IT Services) | | | 904 | | | | 67,664 | |
| MDU Resources Group, Inc. (Construction & Engineering) | | | 3,037 | | | | 93,874 | |
| Medical Properties Trust, Inc.(a) (Equity Real Estate Investment Trusts (REITs)) | | | 8,928 | | | | 115,618 | |
| Medpace Holdings, Inc.* (Life Sciences Tools & Services) | | | 376 | | | | 83,122 | |
| Mercury Systems, Inc.* (Aerospace & Defense) | | | 865 | | | | 43,237 | |
| MGIC Investment Corp. (Thrifts & Mortgage Finance) | | | 4,434 | | | | 62,608 | |
| MKS Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 854 | | | | 87,381 | |
| MP Materials Corp.* (Metals & Mining) | | | 1,379 | | | | 44,831 | |
| MSA Safety, Inc. (Commercial Services & Supplies) | | | 550 | | | | 75,015 | |
| MSC Industrial Direct Co., Inc. (Trading Companies & Distributors) | | | 705 | | | | 58,304 | |
| Murphy Oil Corp. (Oil, Gas & Consumable Fuels) | | | 2,182 | | | | 95,157 | |
| Murphy USA, Inc. (Specialty Retail) | | | 310 | | | | 84,329 | |
| National Fuel Gas Co. (Gas Utilities) | | | 1,366 | | | | 79,310 | |
| National Instruments Corp. (Electronic Equipment, Instruments & Components) | | | 1,949 | | | | 105,246 | |
| National Retail Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 2,669 | | | | 126,377 | |
| National Storage Affiliates Trust (Equity Real Estate Investment Trusts (REITs)) | | | 1,262 | | | | 51,490 | |
| Navient Corp. (Consumer Finance) | | | 1,579 | | | | 29,954 | |
| NCR Corp.* (Technology Hardware, Storage & Peripherals) | | | 2,051 | | | | 56,238 | |
| Neogen Corp.* (Health Care Equipment & Supplies) | | | 3,226 | | | | 69,069 | |
| Neurocrine Biosciences, Inc.* (Biotechnology) | | | 1,435 | | | | 159,185 | |
| New Jersey Resources Corp. (Gas Utilities) | | | 1,437 | | | | 71,735 | |
| New York Community Bancorp, Inc. (Thrifts & Mortgage Finance) | | | 10,157 | | | | 101,469 | |
| NewMarket Corp. (Chemicals) | | | 102 | | | | 35,140 | |
| Nexstar Media Group, Inc. (Media) | | | 563 | | | | 115,285 | |
| Nordstrom, Inc. (Multiline Retail) | | | 1,662 | | | | 32,475 | |
| NorthWestern Corp. (Multi-Utilities) | | | 862 | | | | 48,962 | |
| NOV, Inc. (Energy Equipment & Services) | | | 5,865 | | | | 143,340 | |
| Novanta, Inc.* (Electronic Equipment, Instruments & Components) | | | 533 | | | | 86,064 | |
| nVent Electric PLC (Electrical Equipment) | | | 2,487 | | | | 98,858 | |
| OGE Energy Corp. (Electric Utilities) | | | 2,989 | | | | 117,528 | |
| Old National Bancorp (Banks) | | | 4,374 | | | | 76,545 | |
| Old Republic International Corp. (Insurance) | | | 4,226 | | | | 111,524 | |
| Olin Corp. (Chemicals) | | | 1,902 | | | | 122,850 | |
| Ollie's Bargain Outlet Holdings, Inc.* (Multiline Retail) | | | 870 | | | | 47,641 | |
| Omega Healthcare Investors, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 3,497 | | | | 102,952 | |
See accompanying notes to the financial statements.
156 :: UltraMid-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Omnicell, Inc.* (Health Care Equipment & Supplies) | | | 666 | | | $ | 36,943 | |
| ONE Gas, Inc. (Gas Utilities) | | | 808 | | | | 66,547 | |
| Option Care Health, Inc.* (Health Care Providers & Services) | | | 2,309 | | | | 66,661 | |
| Ormat Technologies, Inc. (Independent Power and Renewable Electricity Producers) | | | 728 | | | | 67,376 | |
| Oshkosh Corp. (Machinery) | | | 977 | | | | 98,462 | |
| Owens Corning (Building Products) | | | 1,395 | | | | 134,827 | |
| PacWest Bancorp (Banks) | | | 1,759 | | | | 48,654 | |
| Papa John's International, Inc. (Hotels, Restaurants & Leisure) | | | 480 | | | | 43,051 | |
| Park Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 3,356 | | | | 49,367 | |
| Patterson Cos., Inc. (Health Care Providers & Services) | | | 1,293 | | | | 39,036 | |
| Paylocity Holding Corp.* (Software) | | | 615 | | | | 128,098 | |
| PBF Energy, Inc.—Class A (Oil, Gas & Consumable Fuels) | | | 1,707 | | | | 71,677 | |
| PDC Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 1,376 | | | | 93,196 | |
| Pebblebrook Hotel Trust (Equity Real Estate Investment Trusts (REITs)) | | | 1,963 | | | | 32,193 | |
| Penn Entertainment, Inc.* (Hotels, Restaurants & Leisure) | | | 2,316 | | | | 82,102 | |
| Penumbra, Inc.* (Health Care Equipment & Supplies) | | | 568 | | | | 142,232 | |
| Performance Food Group Co.* (Food & Staples Retailing) | | | 2,324 | | | | 142,508 | |
| Perrigo Co. PLC (Pharmaceuticals) | | | 2,010 | | | | 75,214 | |
| Physicians Realty Trust (Equity Real Estate Investment Trusts (REITs)) | | | 3,408 | | | | 54,051 | |
| Pilgrim's Pride Corp.* (Food Products) | | | 670 | | | | 16,268 | |
| Pinnacle Financial Partners, Inc. (Banks) | | | 1,141 | | | | 89,831 | |
| PNM Resources, Inc. (Electric Utilities) | | | 1,282 | | | | 63,433 | |
| Polaris, Inc. (Leisure Products) | | | 813 | | | | 93,365 | |
| Portland General Electric Co. (Electric Utilities) | | | 1,333 | | | | 63,424 | |
| Post Holdings, Inc.* (Food Products) | | | 812 | | | | 77,099 | |
| PotlatchDeltic Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 1,206 | | | | 59,034 | |
| Power Integrations, Inc. (Semiconductors & Semiconductor Equipment) | | | 854 | | | | 73,521 | |
| Primerica, Inc. (Insurance) | | | 551 | | | | 89,124 | |
| Progyny, Inc.* (Health Care Providers & Services) | | | 1,123 | | | | 38,620 | |
| Prosperity Bancshares, Inc. (Banks) | | | 1,363 | | | | 103,397 | |
| PVH Corp. (Textiles, Apparel & Luxury Goods) | | | 974 | | | | 87,563 | |
| Qualys, Inc.* (Software) | | | 517 | | | | 59,641 | |
| QuidelOrtho Corp.* (Health Care Equipment & Supplies) | | | 799 | | | | 68,402 | |
| R1 RCM, Inc.* (Health Care Providers & Services) | | | 2,052 | | | | 29,364 | |
| Range Resources Corp. (Oil, Gas & Consumable Fuels) | | | 3,607 | | | | 90,247 | |
| Rayonier, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 2,186 | | | | 79,549 | |
| Regal Rexnord Corp. (Electrical Equipment) | | | 987 | | | | 137,390 | |
| Reinsurance Group of America, Inc. (Insurance) | | | 998 | | | | 151,466 | |
| Reliance Steel & Aluminum Co. (Metals & Mining) | | | 876 | | | | 199,247 | |
| RenaissanceRe Holdings, Ltd. (Insurance) | | | 653 | | | | 127,786 | |
| Repligen Corp.* (Life Sciences Tools & Services) | | | 771 | | | | 142,867 | |
| Rexford Industrial Realty, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 2,740 | | | | 173,907 | |
| RH* (Specialty Retail) | | | 287 | | | | 89,541 | |
| RLI Corp. (Insurance) | | | 603 | | | | 79,867 | |
| Royal Gold, Inc. (Metals & Mining) | | | 980 | | | | 124,489 | |
| RPM International, Inc. (Chemicals) | | | 1,928 | | | | 173,346 | |
| Ryder System, Inc. (Road & Rail) | | | 750 | | | | 70,808 | |
| Sabra Health Care REIT, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 3,448 | | | | 46,548 | |
| Saia, Inc.* (Road & Rail) | | | 395 | | | | 107,748 | |
| Science Applications International Corp. (Professional Services) | | | 823 | | | | 85,411 | |
| SEI Investments Co. (Capital Markets) | | | 1,530 | | | | 95,518 | |
| Selective Insurance Group, Inc. (Insurance) | | | 900 | | | | 85,500 | |
| Sensient Technologies Corp. (Chemicals) | | | 628 | | | | 47,533 | |
| Service Corp. International (Diversified Consumer Services) | | | 2,296 | | | | 170,248 | |
| Shockwave Medical, Inc.* (Health Care Equipment & Supplies) | | | 539 | | | | 101,294 | |
| Silgan Holdings, Inc. (Containers & Packaging) | | | 1,249 | | | | 67,309 | |
| Silicon Laboratories, Inc.* (Semiconductors & Semiconductor Equipment) | | | 497 | | | | 77,984 | |
| Simpson Manufacturing Co., Inc. (Building Products) | | | 636 | | | | 68,122 | |
| SiTime Corp.* (Semiconductors & Semiconductor Equipment) | | | 241 | | | | 27,770 | |
| Skechers U.S.A., Inc.*—Class A (Textiles, Apparel & Luxury Goods) | | | 2,004 | | | | 96,493 | |
| SL Green Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 960 | | | | 39,504 | |
| SLM Corp. (Consumer Finance) | | | 3,735 | | | | 65,623 | |
| Sonoco Products Co. (Containers & Packaging) | | | 1,456 | | | | 88,976 | |
| Sotera Health Co.* (Life Sciences Tools & Services) | | | 1,474 | | | | 25,412 | |
| Southwest Gas Holdings, Inc. (Gas Utilities) | | | 922 | | | | 61,709 | |
| Southwestern Energy Co.* (Oil, Gas & Consumable Fuels) | | | 16,477 | | | | 90,953 | |
| Spire, Inc. (Gas Utilities) | | | 784 | | | | 56,620 | |
| Spirit Realty Capital, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 2,085 | | | | 91,490 | |
| Sprouts Farmers Market, Inc.* (Food & Staples Retailing) | | | 1,581 | | | | 50,513 | |
| STAAR Surgical Co.* (Health Care Equipment & Supplies) | | | 720 | | | | 50,796 | |
| Stericycle, Inc.* (Commercial Services & Supplies) | | | 1,377 | | | | 74,096 | |
| Stifel Financial Corp. (Capital Markets) | | | 1,587 | | | | 106,979 | |
| STORE Capital Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 3,967 | | | | 127,777 | |
| SunPower Corp.* (Semiconductors & Semiconductor Equipment) | | | 1,274 | | | | 22,206 | |
| Sunrun, Inc.* (Electrical Equipment) | | | 3,181 | | | | 83,597 | |
| Super Micro Computer, Inc.* (Technology Hardware, Storage & Peripherals) | | | 690 | | | | 49,908 | |
| Synaptics, Inc.* (Semiconductors & Semiconductor Equipment) | | | 596 | | | | 74,518 | |
| Syneos Health, Inc.* (Life Sciences Tools & Services) | | | 1,536 | | | | 55,173 | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: UltraMid-Cap ProFund :: 157
Common Stocks, continued
| | | Shares | | | Value | |
| Synovus Financial Corp. (Banks) | | | 2,172 | | | $ | 91,115 | |
| Tandem Diabetes Care, Inc.* (Health Care Equipment & Supplies) | | | 960 | | | | 39,110 | |
| Taylor Morrison Home Corp.* (Household Durables) | | | 1,617 | | | | 57,889 | |
| TD SYNNEX Corp. (Electronic Equipment, Instruments & Components) | | | 628 | | | | 64,150 | |
| TEGNA, Inc. (Media) | | | 3,331 | | | | 66,387 | |
| Tempur Sealy International, Inc. (Household Durables) | | | 2,552 | | | | 103,994 | |
| Tenet Healthcare Corp.* (Health Care Providers & Services) | | | 1,614 | | | | 88,528 | |
| Teradata Corp.* (Software) | | | 1,520 | | | | 53,018 | |
| Terex Corp. (Machinery) | | | 1,008 | | | | 51,378 | |
| Tetra Tech, Inc. (Commercial Services & Supplies) | | | 791 | | | | 123,017 | |
| Texas Capital Bancshares, Inc.* (Banks) | | | 745 | | | | 49,222 | |
| Texas Roadhouse, Inc. (Hotels, Restaurants & Leisure) | | | 999 | | | | 100,330 | |
| The Boston Beer Co., Inc.*—Class A (Beverages) | | | 141 | | | | 54,794 | |
| The Brink's Co. (Commercial Services & Supplies) | | | 694 | | | | 45,526 | |
| The Chemours Co. (Chemicals) | | | 2,253 | | | | 81,987 | |
| The Gap, Inc. (Specialty Retail) | | | 3,148 | | | | 42,718 | |
| The Goodyear Tire & Rubber Co.* (Auto Components) | | | 4,223 | | | | 47,509 | |
| The Hanover Insurance Group, Inc. (Insurance) | | | 531 | | | | 71,462 | |
| The Macerich Co. (Equity Real Estate Investment Trusts (REITs)) | | | 3,205 | | | | 44,037 | |
| The Middleby Corp.* (Machinery) | | | 805 | | | | 125,137 | |
| The New York Times Co.—Class A (Media) | | | 2,458 | | | | 85,636 | |
| The Scotts Miracle-Gro Co.(a) (Chemicals) | | | 604 | | | | 43,603 | |
| The Timken Co. (Machinery) | | | 988 | | | | 81,362 | |
| The Toro Co. (Machinery) | | | 1,556 | | | | 173,525 | |
| The Wendy's Co. (Hotels, Restaurants & Leisure) | | | 2,544 | | | | 56,731 | |
| The Western Union Co. (IT Services) | | | 5,765 | | | | 81,690 | |
| Thor Industries, Inc. (Automobiles) | | | 802 | | | | 76,455 | |
| Toll Brothers, Inc. (Household Durables) | | | 1,574 | | | | 93,637 | |
| TopBuild Corp.* (Household Durables) | | | 477 | | | | 95,429 | |
| Topgolf Callaway Brands Corp.* (Leisure Products) | | | 2,070 | | | | 50,694 | |
| Travel + Leisure Co. (Hotels, Restaurants & Leisure) | | | 1,213 | | | | 51,395 | |
| Trex Co., Inc.* (Building Products) | | | 1,638 | | | | 86,355 | |
| TripAdvisor, Inc.* (Interactive Media & Services) | | | 1,564 | | | | 36,441 | |
| UGI Corp. (Gas Utilities) | | | 3,126 | | | | 124,510 | |
| UMB Financial Corp. (Banks) | | | 649 | | | | 58,533 | |
| Umpqua Holdings Corp. (Banks) | | | 3,240 | | | | 58,968 | |
| Under Armour, Inc.*—Class A (Textiles, Apparel & Luxury Goods) | | | 2,816 | | | | 34,890 | |
| Under Armour, Inc.*—Class C (Textiles, Apparel & Luxury Goods) | | | 2,941 | | | | 32,057 | |
| United Bankshares, Inc. (Banks) | | | 2,011 | | | | 80,842 | |
| United States Steel Corp. (Metals & Mining) | | | 3,498 | | | | 99,658 | |
| United Therapeutics Corp.* (Biotechnology) | | | 680 | | | | 178,955 | |
| Univar Solutions, Inc.* (Trading Companies & Distributors) | | | 2,436 | | | | 83,993 | |
| Universal Display Corp. (Semiconductors & Semiconductor Equipment) | | | 649 | | | | 86,012 | |
| Unum Group (Insurance) | | | 2,792 | | | | 117,348 | |
| Valley National Bancorp (Banks) | | | 6,274 | | | | 74,535 | |
| Valmont Industries, Inc. (Construction & Engineering) | | | 319 | | | | 105,184 | |
| Valvoline, Inc. (Chemicals) | | | 2,643 | | | | 96,892 | |
| ViaSat, Inc.* (Communications Equipment) | | | 1,129 | | | | 38,894 | |
| Vicor Corp.* (Electrical Equipment) | | | 333 | | | | 23,120 | |
| Victoria's Secret & Co.* (Specialty Retail) | | | 1,213 | | | | 51,128 | |
| Vishay Intertechnology, Inc. (Electronic Equipment, Instruments & Components) | | | 1,935 | | | | 44,292 | |
| Visteon Corp.* (Auto Components) | | | 421 | | | | 65,819 | |
| Vontier Corp. (Electronic Equipment, Instruments & Components) | | | 2,358 | | | | 54,305 | |
| Vornado Realty Trust (Equity Real Estate Investment Trusts (REITs)) | | | 2,408 | | | | 58,731 | |
| Voya Financial, Inc.(a) (Diversified Financial Services) | | | 1,451 | | | | 101,236 | |
| Washington Federal, Inc. (Banks) | | | 976 | | | | 34,609 | |
| Watsco, Inc. (Trading Companies & Distributors) | | | 497 | | | | 142,822 | |
| Watts Water Technologies, Inc.—Class A (Machinery) | | | 407 | | | | 66,553 | |
| Webster Financial Corp. (Banks) | | | 2,598 | | | | 136,785 | |
| Werner Enterprises, Inc. (Road & Rail) | | | 878 | | | | 41,240 | |
| Westlake Corp. (Chemicals) | | | 514 | | | | 63,094 | |
| WEX, Inc.* (IT Services) | | | 651 | | | | 120,416 | |
| Williams-Sonoma, Inc. (Specialty Retail) | | | 996 | | | | 134,400 | |
| Wingstop, Inc. (Hotels, Restaurants & Leisure) | | | 447 | | | | 70,836 | |
| Wintrust Financial Corp. (Banks) | | | 907 | | | | 82,963 | |
| Wolfspeed, Inc.* (Semiconductors & Semiconductor Equipment) | | | 1,855 | | | | 142,854 | |
| Woodward, Inc. (Machinery) | | | 899 | | | | 91,932 | |
| World Wrestling Entertainment, Inc.—Class A (Entertainment) | | | 647 | | | | 54,749 | |
| Worthington Industries, Inc. (Metals & Mining) | | | 453 | | | | 25,762 | |
| Wyndham Hotels & Resorts, Inc. (Hotels, Restaurants & Leisure) | | | 1,318 | | | | 102,158 | |
| Xerox Holdings Corp. (Technology Hardware, Storage & Peripherals) | | | 1,672 | | | | 27,387 | |
| XPO, Inc.* (Air Freight & Logistics) | | | 1,719 | | | | 68,519 | |
| YETI Holdings, Inc.* (Leisure Products) | | | 1,288 | | | | 57,651 | |
| Ziff Davis, Inc.* (Interactive Media & Services) | | | 705 | | | | 63,084 | |
TOTAL COMMON STOCKS
(Cost $21,854,976) | | | | | | | 33,467,632 | |
Repurchase Agreements(b)(c) (28.2%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $13,568,587 | | $ | 13,567,000 | | | $ | 13,567,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $13,567,000) | | | | | | | 13,567,000 | |
See accompanying notes to the financial statements.
158 :: UltraMid-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Collateral for Securities Loaned(d) (0.7%)
| | | Shares | | | Value | |
| Invesco Government & Agency Portfolio—Institutional Shares, 4.32%(e) | | | 327,118 | | | $ | 327,118 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $327,118) | | | | | | | 327,118 | |
TOTAL INVESTMENT SECURITIES
(Cost $35,749,094)—98.6% | | | | | | | 47,361,750 | |
| Net other assets (liabilities)—1.4% | | | | | | | 681,330 | |
| NET ASSETS—100.0% | | | | | | $ | 48,043,080 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $327,380. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $7,228,000. |
| (d) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (e) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
Futures Contracts Purchased
| | | Number
of
Contracts | | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini S&P MidCap 400 Futures Contracts | | | 19 | | | 3/20/23 | | $ | 5,059,510 | | | $ | 341,257 | |
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 | | 2/27/23 | | | 4.83 | % | | $ | 30,216,904 | | | $ | 345,147 | |
| SPDR S&P MidCap 400 ETF | | Goldman Sachs International | | 2/27/23 | | | 4.60 | % | | | 6,425,501 | | | | 62,725 | |
| | | | | | | | | | | $ | 36,642,405 | | | $ | 407,872 | |
| | | | | | | | | | | | | | | | | |
| S&P MidCap 400 | | UBS AG | | 2/27/23 | | | 4.68 | % | | $ | 12,428,652 | | | $ | 149,774 | |
| SPDR S&P MidCap 400 ETF | | UBS AG | | 2/27/23 | | | 4.63 | % | | | 8,292,110 | | | | 100,338 | |
| | | | | | | | | | | $ | 20,720,762 | | | $ | 250,112 | |
| | | | | | | | | | | $ | 57,363,167 | | | $ | 657,984 | |
| (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, 2023, 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: UltraMid-Cap ProFund :: 159
UltraMid-Cap ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 423,993 | | | | 0.9 | % |
| Air Freight & Logistics | | | 161,196 | | | | 0.3 | % |
| Airlines | | | 38,680 | | | | 0.1 | % |
| Auto Components | | | 518,006 | | | | 1.1 | % |
| Automobiles | | | 167,870 | | | | 0.4 | % |
| Banks | | | 2,309,313 | | | | 4.8 | % |
| Beverages | | | 150,255 | | | | 0.3 | % |
| Biotechnology | | | 582,841 | | | | 1.2 | % |
| Building Products | | | 906,964 | | | | 1.9 | % |
| Capital Markets | | | 592,420 | | | | 1.2 | % |
| Chemicals | | | 903,969 | | | | 1.9 | % |
| Commercial Services & Supplies | | | 498,844 | | | | 1.0 | % |
| Communications Equipment | | | 259,970 | | | | 0.5 | % |
| Construction & Engineering | | | 692,826 | | | | 1.4 | % |
| Construction Materials | | | 80,344 | | | | 0.2 | % |
| Consumer Finance | | | 147,198 | | | | 0.3 | % |
| Containers & Packaging | | | 296,320 | | | | 0.6 | % |
| Diversified Consumer Services | | | 351,344 | | | | 0.7 | % |
| Diversified Financial Services | | | 208,706 | | | | 0.4 | % |
| Diversified Telecommunication Services | | | 210,832 | | | | 0.4 | % |
| Electric Utilities | | | 446,211 | | | | 0.9 | % |
| Electrical Equipment | | | 667,600 | | | | 1.4 | % |
| Electronic Equipment, Instruments & Components | | | 1,114,525 | | | | 2.3 | % |
| Energy Equipment & Services | | | 241,608 | | | | 0.5 | % |
| Entertainment | | | 54,749 | | | | 0.1 | % |
| Equity Real Estate Investment Trusts (REITs) | | | 2,686,525 | | | | 5.7 | % |
| Food & Staples Retailing | | | 510,504 | | | | 1.1 | % |
| Food Products | | | 488,888 | | | | 1.0 | % |
| Gas Utilities | | | 460,430 | | | | 1.0 | % |
| Health Care Equipment & Supplies | | | 1,187,059 | | | | 2.5 | % |
| Health Care Providers & Services | | | 778,604 | | | | 1.6 | % |
| Hotels, Restaurants & Leisure | | | 972,958 | | | | 2.0 | % |
| Household Durables | | | 511,509 | | | | 1.1 | % |
| Household Products | | | 36,692 | | | | 0.1 | % |
| Independent Power and Renewable Electricity Producers | | | 67,376 | | | | 0.1 | % |
| Insurance | | | 1,326,062 | | | | 2.8 | % |
| Interactive Media & Services | | | 99,525 | | | | 0.2 | % |
| IT Services | | | 682,787 | | | | 1.4 | % |
| Leisure Products | | | 401,293 | | | | 0.8 | % |
| Life Sciences Tools & Services | | | 473,927 | | | | 1.0 | % |
| Machinery | | | 1,671,339 | | | | 3.5 | % |
| Marine | | | 63,348 | | | | 0.1 | % |
| Media | | | 353,538 | | | | 0.7 | % |
| Metals & Mining | | | 891,332 | | | | 1.9 | % |
| Mortgage Real Estate Investment Trusts (REITs) | | | 163,938 | | | | 0.3 | % |
| Multiline Retail | | | 232,056 | | | | 0.5 | % |
| Multi-Utilities | | | 119,315 | | | | 0.3 | % |
| Oil, Gas & Consumable Fuels | | | 1,010,619 | | | | 2.1 | % |
| Paper & Forest Products | | | 72,924 | | | | 0.2 | % |
| Personal Products | | | 111,696 | | | | 0.2 | % |
| Pharmaceuticals | | | 222,475 | | | | 0.5 | % |
| Professional Services | | | 572,839 | | | | 1.2 | % |
| Real Estate Management & Development | | | 131,073 | | | | 0.3 | % |
| Road & Rail | | | 528,628 | | | | 1.1 | % |
| Semiconductors & Semiconductor Equipment | | | 953,673 | | | | 2.0 | % |
| Software | | | 995,566 | | | | 2.1 | % |
| Specialty Retail | | | 980,069 | | | | 2.0 | % |
| Technology Hardware, Storage & Peripherals | | | 133,533 | | | | 0.3 | % |
| Textiles, Apparel & Luxury Goods | | | 802,205 | | | | 1.7 | % |
| Thrifts & Mortgage Finance | | | 234,877 | | | | 0.5 | % |
| Trading Companies & Distributors | | | 345,320 | | | | 0.7 | % |
| Water Utilities | | | 166,546 | | | | 0.3 | % |
| Other** | | | 14,575,448 | | | | 30.3 | % |
| Total | | $ | 48,043,080 | | | | 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, 2023 (unaudited)
Common Stocks (65.4%)
| | | Shares | | | Value | |
| Activision Blizzard, Inc. (Entertainment) | | | 21,293 | | | $ | 1,630,405 | |
| Adobe, Inc.* (Software) | | | 12,648 | | | | 4,684,060 | |
| Advanced Micro Devices, Inc.* (Semiconductors & Semiconductor Equipment) | | | 43,868 | | | | 3,296,680 | |
| Airbnb, Inc.*—Class A (Hotels, Restaurants & Leisure) | | | 10,834 | | | | 1,203,766 | |
| Align Technology, Inc.* (Health Care Equipment & Supplies) | | | 2,125 | | | | 573,176 | |
| Alphabet, Inc.*—Class A (Interactive Media & Services) | | | 127,675 | | | | 12,619,397 | |
| Alphabet, Inc.*—Class C (Interactive Media & Services) | | | 127,635 | | | | 12,746,906 | |
| Amazon.com, Inc.* (Internet & Direct Marketing Retail) | | | 213,951 | | | | 22,064,767 | |
| American Electric Power Co., Inc. (Electric Utilities) | | | 13,981 | | | | 1,313,654 | |
| Amgen, Inc. (Biotechnology) | | | 14,517 | | | | 3,664,091 | |
| Analog Devices, Inc. (Semiconductors & Semiconductor Equipment) | | | 13,857 | | | | 2,376,060 | |
| ANSYS, Inc.* (Software) | | | 2,370 | | | | 631,273 | |
| Apple, Inc. (Technology Hardware, Storage & Peripherals) | | | 268,337 | | | | 38,718,346 | |
| Applied Materials, Inc. (Semiconductors & Semiconductor Equipment) | | | 23,407 | | | | 2,609,646 | |
| ASML Holding N.V.NYS (Semiconductors & Semiconductor Equipment) | | | 2,404 | | | | 1,588,659 | |
| AstraZeneca PLCADR (Pharmaceuticals) | | | 16,621 | | | | 1,086,515 | |
| Atlassian Corp.*—Class A (Software) | | | 4,034 | | | | 651,975 | |
| Autodesk, Inc.* (Software) | | | 5,873 | | | | 1,263,635 | |
| Automatic Data Processing, Inc. (IT Services) | | | 11,287 | | | | 2,548,717 | |
| Baker Hughes Co. (Energy Equipment & Services) | | | 27,245 | | | | 864,756 | |
| Biogen, Inc.* (Biotechnology) | | | 3,918 | | | | 1,139,746 | |
| Booking Holdings, Inc.* (Hotels, Restaurants & Leisure) | | | 1,056 | | | | 2,570,410 | |
| Broadcom, Inc. (Semiconductors & Semiconductor Equipment) | | | 11,019 | | | | 6,446,225 | |
| Cadence Design Systems, Inc.* (Software) | | | 7,462 | | | | 1,364,277 | |
| Charter Communications, Inc.*—Class A (Media) | | | 4,236 | | | | 1,627,937 | |
| Cintas Corp. (Commercial Services & Supplies) | | | 2,762 | | | | 1,225,610 | |
| Cisco Systems, Inc. (Communications Equipment) | | | 111,770 | | | | 5,439,846 | |
| Cognizant Technology Solutions Corp.—Class A (IT Services) | | | 13,981 | | | | 933,232 | |
| Comcast Corp.—Class A (Media) | | | 117,369 | | | | 4,618,470 | |
| Constellation Energy Corp. (Electric Utilities) | | | 8,898 | | | | 759,533 | |
| Copart, Inc.* (Commercial Services & Supplies) | | | 12,958 | | | | 863,132 | |
| CoStar Group, Inc.* (Professional Services) | | | 11,064 | | | | 861,886 | |
| Costco Wholesale Corp. (Food & Staples Retailing) | | | 12,042 | | | | 6,155,148 | |
| Crowdstrike Holdings, Inc.*—Class A (Software) | | | 5,938 | | | | 628,834 | |
| CSX Corp. (Road & Rail) | | | 57,199 | | | | 1,768,594 | |
| Datadog, Inc.*—Class A (Software) | | | 7,946 | | | | 594,440 | |
| DexCom, Inc.* (Health Care Equipment & Supplies) | | | 10,508 | | | | 1,125,302 | |
| Diamondback Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 4,789 | | | | 699,769 | |
| Dollar Tree, Inc.* (Multiline Retail) | | | 6,018 | | | | 903,783 | |
| eBay, Inc. (Internet & Direct Marketing Retail) | | | 14,762 | | | | 730,719 | |
| Electronic Arts, Inc. (Entertainment) | | | 7,511 | | | | 966,515 | |
| Enphase Energy, Inc.* (Semiconductors & Semiconductor Equipment) | | | 3,698 | | | | 818,663 | |
| Exelon Corp. (Electric Utilities) | | | 27,035 | | | | 1,140,607 | |
| Fastenal Co. (Trading Companies & Distributors) | | | 15,582 | | | | 787,670 | |
| Fiserv, Inc.* (IT Services) | | | 17,276 | | | | 1,843,004 | |
| Fortinet, Inc.* (Software) | | | 21,254 | | | | 1,112,434 | |
| Gilead Sciences, Inc. (Biotechnology) | | | 34,124 | | | | 2,864,369 | |
| GLOBALFOUNDRIES, Inc.*(a) (Semiconductors & Semiconductor Equipment) | | | 14,829 | | | | 879,063 | |
| Honeywell International, Inc. (Industrial Conglomerates) | | | 18,292 | | | | 3,813,516 | |
| IDEXX Laboratories, Inc.* (Health Care Equipment & Supplies) | | | 2,253 | | | | 1,082,567 | |
| Illumina, Inc.* (Life Sciences Tools & Services) | | | 4,280 | | | | 916,776 | |
| Intel Corp. (Semiconductors & Semiconductor Equipment) | | | 112,281 | | | | 3,173,061 | |
| Intuit, Inc. (Software) | | | 7,643 | | | | 3,230,467 | |
| Intuitive Surgical, Inc.* (Health Care Equipment & Supplies) | | | 9,614 | | | | 2,362,063 | |
| JD.com, Inc.ADR (Internet & Direct Marketing Retail) | | | 13,216 | | | | 786,748 | |
| Keurig Dr Pepper, Inc. (Beverages) | | | 38,531 | | | | 1,359,374 | |
| KLA Corp. (Semiconductors & Semiconductor Equipment) | | | 3,856 | | | | 1,513,403 | |
| Lam Research Corp. (Semiconductors & Semiconductor Equipment) | | | 3,711 | | | | 1,855,871 | |
| Lucid Group, Inc.*(a) (Automobiles) | | | 45,719 | | | | 534,455 | |
| Lululemon Athletica, Inc.* (Textiles, Apparel & Luxury Goods) | | | 3,328 | | | | 1,021,297 | |
| Marriott International, Inc.—Class A (Hotels, Restaurants & Leisure) | | | 8,613 | | | | 1,500,212 | |
| Marvell Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 23,196 | | | | 1,000,907 | |
| Mercadolibre, Inc.* (Internet & Direct Marketing Retail) | | | 1,369 | | | | 1,617,734 | |
| Meta Platforms, Inc.*—Class A (Interactive Media & Services) | | | 61,180 | | | | 9,113,985 | |
| Microchip Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 14,964 | | | | 1,161,506 | |
| Micron Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 29,578 | | | | 1,783,553 | |
| Microsoft Corp. (Software) | | | 155,687 | | | | 38,580,796 | |
| Moderna, Inc.* (Biotechnology) | | | 10,453 | | | | 1,840,355 | |
| Mondelez International, Inc.—Class A (Food Products) | | | 37,155 | | | | 2,431,423 | |
| Monster Beverage Corp.* (Beverages) | | | 14,195 | | | | 1,477,416 | |
| Netflix, Inc.* (Entertainment) | | | 12,108 | | | | 4,284,538 | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: UltraNasdaq-100 ProFund :: 161
Common Stocks, continued
| | | Shares | | | Value | |
| NVIDIA Corp. (Semiconductors & Semiconductor Equipment) | | | 66,929 | | | $ | 13,075,920 | |
| NXP Semiconductors N.V. (Semiconductors & Semiconductor Equipment) | | | 7,050 | | | | 1,299,386 | |
| Old Dominion Freight Line, Inc. (Road & Rail) | | | 3,006 | | | | 1,001,719 | |
| O'Reilly Automotive, Inc.* (Specialty Retail) | | | 1,701 | | | | 1,347,787 | |
| PACCAR, Inc. (Machinery) | | | 9,462 | | | | 1,034,291 | |
| Palo Alto Networks, Inc.* (Software) | | | 8,226 | | | | 1,304,973 | |
| Paychex, Inc. (IT Services) | | | 9,806 | | | | 1,136,123 | |
| PayPal Holdings, Inc.* (IT Services) | | | 31,021 | | | | 2,527,901 | |
| PepsiCo, Inc. (Beverages) | | | 37,484 | | | | 6,410,514 | |
| Pinduoduo, Inc.*ADR (Internet & Direct Marketing Retail) | | | 12,734 | | | | 1,247,677 | |
| Qualcomm, Inc. (Semiconductors & Semiconductor Equipment) | | | 30,500 | | | | 4,062,905 | |
| Regeneron Pharmaceuticals, Inc.* (Biotechnology) | | | 2,914 | | | | 2,210,182 | |
| Rivian Automotive, Inc.*(a)—Class A (Automobiles) | | | 24,841 | | | | 481,915 | |
| Ross Stores, Inc. (Specialty Retail) | | | 9,442 | | | | 1,115,950 | |
| Seagen, Inc.* (Biotechnology) | | | 5,052 | | | | 704,653 | |
| Sirius XM Holdings, Inc.(a) (Media) | | | 105,820 | | | | 612,698 | |
| Starbucks Corp. (Hotels, Restaurants & Leisure) | | | 31,228 | | | | 3,408,224 | |
| Synopsys, Inc.* (Software) | | | 4,161 | | | | 1,471,954 | |
| Tesla, Inc.* (Automobiles) | | | 66,225 | | | | 11,471,495 | |
| Texas Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 24,695 | | | | 4,376,201 | |
| The Kraft Heinz Co. (Food Products) | | | 33,325 | | | | 1,350,662 | |
| T-Mobile U.S., Inc.* (Wireless Telecommunication Services) | | | 33,850 | | | | 5,054,144 | |
| Verisk Analytics, Inc. (Professional Services) | | | 4,255 | | | | 773,516 | |
| Vertex Pharmaceuticals, Inc.* (Biotechnology) | | | 6,984 | | | | 2,256,530 | |
| Walgreens Boots Alliance, Inc. (Food & Staples Retailing) | | | 23,527 | | | | 867,205 | |
| Warner Bros Discovery, Inc.* (Entertainment) | | | 66,065 | | | | 979,083 | |
| Workday, Inc.*—Class A (Software) | | | 5,496 | | | | 997,139 | |
| Xcel Energy, Inc. (Electric Utilities) | | | 14,888 | | | | 1,023,848 | |
| Zoom Video Communications, Inc.*—Class A (Software) | | | 6,683 | | | | 501,225 | |
| Zscaler, Inc.* (Software) | | | 3,924 | | | | 487,204 | |
TOTAL COMMON STOCKS
(Cost $78,945,591) | | | | | | | 328,040,749 | |
Repurchase Agreements(b)(c) (37.2%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $187,101,878 | | $ | 187,080,000 | | | $ | 187,080,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $187,080,000) | | | | | | | 187,080,000 | |
Collateral for Securities Loaned(d) (0.5%)
| | | Shares | | | Value | |
| Invesco Government & Agency Portfolio—Institutional Shares, 4.32%(e) | | | 2,503,593 | | | $ | 2,503,593 | |
TOTAL COLLATERAL FOR SECURITIES LOANED
(Cost $2,503,593) | | | | | | | 2,503,593 | |
TOTAL INVESTMENT SECURITIES
(Cost $268,529,184)—103.1% | | | | | | | 517,624,342 | |
| Net other assets (liabilities)—(3.1)% | | | | | | | (15,393,709 | ) |
| NET ASSETS—100.0% | | | | | | $ | 502,230,633 | |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $2,497,534. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $88,313,000. |
| (d) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (e) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
| ADR | American Depositary Receipt |
| NYS | New York Shares |
Futures Contracts Purchased
| | | Number
of
Contracts | | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini Nasdaq-100 Futures Contracts | | | 281 | | | 3/20/23 | | $ | 68,294,240 | | | $ | 3,452,710 | |
See accompanying notes to the financial statements.
162 :: UltraNasdaq-100 ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
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 | | 2/27/23 | | | 4.73 | % | | $ | 99,078,115 | | | $ | (604,046 | ) |
| Nasdaq-100 Index | | Goldman Sachs International | | 2/27/23 | | | 4.93 | % | | | 204,150,362 | | | | 215,659 | |
| | | | | | | | | | | $ | 303,228,477 | | | $ | (388,387 | ) |
| | | | | | | | | | | | | | | | | |
| Invesco QQQ Trust, Series 1 ETF | | UBS AG | | 2/27/23 | | | 4.73 | % | | $ | 91,201,051 | | | $ | (556,023 | ) |
| Nasdaq-100 Index | | UBS AG | | 2/27/23 | | | 5.13 | % | | | 215,531,743 | | | | (1,255,138 | ) |
| | | | | | | | | | | $ | 306,732,794 | | | $ | (1,811,161 | ) |
| | | | | | | | | | | $ | 609,961,271 | | | $ | (2,199,548 | ) |
| Total unrealized appreciation | | | $ | 215,659 | |
| Total unrealized (depreciation) | | | | (2,415,207 | ) |
| Total net unrealized appreciation/(depreciation | | $ | (2,199,548 | ) |
| (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, 2023, 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). |
UltraNasdaq-100 ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of Net Assets | |
| Automobiles | | $ | 12,487,865 | | | | 2.5 | % |
| Beverages | | | 9,247,303 | | | | 1.8 | % |
| Biotechnology | | | 14,679,926 | | | | 2.9 | % |
| Commercial Services & Supplies | | | 2,088,742 | | | | 0.4 | % |
| Communications Equipment | | | 5,439,846 | | | | 1.1 | % |
| Electric Utilities | | | 4,237,642 | | | | 0.8 | % |
| Energy Equipment & Services | | | 864,756 | | | | 0.2 | % |
| Entertainment | | | 7,860,541 | | | | 1.6 | % |
| Food & Staples Retailing | | | 7,022,353 | | | | 1.4 | % |
| Food Products | | | 3,782,085 | | | | 0.8 | % |
| Health Care Equipment & Supplies | | | 5,143,108 | | | | 1.0 | % |
| Hotels, Restaurants & Leisure | | | 8,682,612 | | | | 1.7 | % |
| Industrial Conglomerates | | | 3,813,516 | | | | 0.8 | % |
| Interactive Media & Services | | | 34,480,289 | | | | 6.9 | % |
| Internet & Direct Marketing Retail | | | 26,447,645 | | | | 5.3 | % |
| IT Services | | | 8,988,977 | | | | 1.8 | % |
| Life Sciences Tools & Services | | | 916,776 | | | | 0.2 | % |
| Machinery | | | 1,034,291 | | | | 0.2 | % |
| Media | | | 6,859,105 | | | | 1.4 | % |
| Multiline Retail | | | 903,783 | | | | 0.2 | % |
| Oil, Gas & Consumable Fuels | | | 699,769 | | | | 0.1 | % |
| Pharmaceuticals | | | 1,086,515 | | | | 0.2 | % |
| Professional Services | | | 1,635,402 | | | | 0.3 | % |
| Road & Rail | | | 2,770,313 | | | | 0.5 | % |
| Semiconductors & Semiconductor Equipment | | | 51,317,709 | | | | 10.2 | % |
| Software | | | 57,504,686 | | | | 11.5 | % |
| Specialty Retail | | | 2,463,737 | | | | 0.5 | % |
| Technology Hardware, Storage & Peripherals | | | 38,718,346 | | | | 7.7 | % |
| Textiles, Apparel & Luxury Goods | | | 1,021,297 | | | | 0.2 | % |
| Trading Companies & Distributors | | | 787,670 | | | | 0.2 | % |
| Wireless Telecommunication Services | | | 5,054,144 | | | | 1.0 | % |
| Other** | | | 174,189,884 | | | | 34.6 | % |
| Total | | $ | 502,230,633 | | | | 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: UltraShort China ProFund :: 163
Repurchase Agreements(a)(b) (92.0%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $2,188,256 | | $ | 2,188,000 | | | $ | 2,188,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $2,188,000) | | | | | | | 2,188,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $2,188,000)—92.0% | | | | | | | 2,188,000 | |
| Net other assets (liabilities)—8.0% | | | | | | | 191,182 | |
| NET ASSETS—100.0% | | | | | | $ | 2,379,182 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $143,000. |
Total Return Swap Agreements—Short
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| S&P China Select ADR Index (USD) | | Goldman Sachs International | | 2/27/23 | | | (3.83 | )% | | $ | (1,651,309 | ) | | $ | 82,925 | |
| S&P China Select ADR Index (USD) | | UBS AG | | 2/27/23 | | | (3.08 | )% | | | (3,097,036 | ) | | | 113,768 | |
| | | | | | | | | | | $ | (4,748,345 | ) | | $ | 196,693 | |
| (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, 2023, 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, 2023 (unaudited)
Repurchase Agreements(a)(b) (97.1%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $2,784,326 | | $ | 2,784,000 | | | $ | 2,784,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $2,784,000) | | | | | | | 2,784,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $2,784,000)—97.1% | | | | | | | 2,784,000 | |
| Net other assets (liabilities)—2.9% | | | | | | | 82,836 | |
| NET ASSETS—100.0% | | | | | | $ | 2,866,836 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $949,000. |
Total Return Swap Agreements—Short
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| Dow Jones Industrial Average | | Goldman Sachs International | | 2/27/23 | | | (4.68 | )% | | $ | (776,412 | ) | | $ | (3,163 | ) |
| Dow Jones Industrial Average | | UBS AG | | 2/27/23 | | | (4.18 | )% | | | (4,946,021 | ) | | | (13,376 | ) |
| | | | | | | | | | | $ | (5,722,433 | ) | | $ | (16,539 | ) |
| (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, 2023, 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: UltraShort Emerging Markets ProFund :: 165
Repurchase Agreements(a)(b) (94.6%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $616,072 | | $ | 616,000 | | | $ | 616,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $616,000) | | | | | | | 616,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $616,000)—94.6% | | | | | | | 616,000 | |
| Net other assets (liabilities)—5.4% | | | | | | | 34,961 | |
| NET ASSETS—100.0% | | | | | | $ | 650,961 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $241,000. |
Total Return Swap Agreements—Short
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| S&P Emerging 50 ADR Index (USD) | | Goldman Sachs International | | 2/27/23 | | | (3.98 | )% | | $ | (754,607 | ) | | $ | 10,926 | |
| S&P Emerging 50 ADR Index (USD) | | UBS AG | | 2/27/23 | | | (3.83 | )% | | | (539,520 | ) | | | 13,150 | |
| | | | | | | | | | | $ | (1,294,127 | ) | | $ | 24,076 | |
| (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, 2023, 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, 2023 (unaudited)
Repurchase Agreements(a)(b) (116.6%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $2,348,275 | | $ | 2,348,000 | | | $ | 2,348,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $2,348,000) | | | | | | | 2,348,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $2,348,000)—116.6% | | | | | | | 2,348,000 | |
| Net other assets (liabilities)—(16.6)% | | | | | | | (333,703 | ) |
| NET ASSETS—100.0% | | | | | | $ | 2,014,297 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $513,000. |
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 | | 2/27/23 | | | (4.13 | )% | | $ | (1,361,105 | ) | | $ | 1,129 | |
| MSCI EAFE Index | | UBS AG | | 2/27/23 | | | (4.03 | )% | | | (2,677,712 | ) | | | (2,094 | ) |
| | | | | | | | | | | $ | (4,038,817 | ) | | $ | (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, 2023, 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: UltraShort Japan ProFund :: 167
Repurchase Agreements(a) (84.3%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $259,030 | | $ | 259,000 | | | $ | 259,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $259,000) | | | | | | | 259,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $259,000)—84.3% | | | | | | | 259,000 | |
| Net other assets (liabilities)—15.7% | | | | | | | 48,355 | |
| NET ASSETS—100.0% | | | | | | $ | 307,355 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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 | | | 3 | | | 3/10/23 | | $ | (412,875 | ) | | $ | (14,910 | ) |
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 | | 2/27/23 | | | (4.58 | )% | | $ | (190,272 | ) | | $ | (468 | ) |
| (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, 2023, 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, 2023 (unaudited)
Repurchase Agreements(a)(b) (96.1%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $767,090 | | $ | 767,000 | | | $ | 767,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $767,000) | | | | | | | 767,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $767,000)—96.1% | | | | | | | 767,000 | |
| Net other assets (liabilities)—3.9% | | | | | | | 31,260 | |
| NET ASSETS—100.0% | | | | | | $ | 798,260 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $170,000. |
Total Return Swap Agreements—Short
| Underlying Instrument | | Counterparty | | Termination
Date(1) | | Rate Paid
(Received)(2) | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| S&P Latin America 35 ADR Index (USD) | | Goldman Sachs International | | 2/27/23 | | | (3.83 | )% | | $ | (1,107,848 | ) | | $ | (12,422 | ) |
| S&P Latin America 35 ADR Index (USD) | | UBS AG | | 2/27/23 | | | (3.83 | )% | | | (499,864 | ) | | | (5,131 | ) |
| | | | | | | | | | | $ | (1,607,712 | ) | | $ | (17,553 | ) |
| (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, 2023, 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: UltraShort Mid-Cap ProFund :: 169
Repurchase Agreements(a)(b) (106.7%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $1,300,152 | | $ | 1,300,000 | | | $ | 1,300,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $1,300,000) | | | | | | | 1,300,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $1,300,000)—106.7% | | | | | | | 1,300,000 | |
| Net other assets (liabilities)—(6.7)% | | | | | | | (81,863 | ) |
| NET ASSETS—100.0% | | | | | | $ | 1,218,137 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $545,000. |
Futures Contracts Sold
| | | Number
of
Contracts | | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini S&P MidCap 400 Futures Contracts | | | 1 | | | 3/20/23 | | $ | (266,290 | ) | | $ | (16,746 | ) |
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 | | 2/27/23 | | | | (4.43 | )% | | $ | (815,681 | ) | | $ | 3,237 | |
| S&P MidCap 400 | | UBS AG | | 2/27/23 | | | | (4.33 | )% | | | (1,363,181 | ) | | | (16,480 | ) |
| | | | | | | | | | | | $ | (2,178,862 | ) | | $ | (13,243 | ) |
| (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, 2023, 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, 2023 (unaudited)
Repurchase Agreements(a)(b) (101.2%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $20,428,389 | | $ | 20,426,000 | | | $ | 20,426,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $20,426,000) | | | | | | | 20,426,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $20,426,000)—101.2% | | | | | | | 20,426,000 | |
| Net other assets (liabilities)—(1.2)% | | | | | | | (247,581 | ) |
| NET ASSETS—100.0% | | | | | | $ | 20,178,419 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $6,239,000. |
Futures Contracts Sold
| | | Number
of
Contracts | | | | Expiration
Date | | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini Nasdaq-100 Futures Contracts | | | 10 | | | | 3/20/23 | | | $ | (2,430,400 | ) | | $ | (105,929 | ) |
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 | | 2/27/23 | | | | (4.68 | )% | | $ | (21,450,673 | ) | | $ | 127,175 | |
| Nasdaq-100 Index | | UBS AG | | 2/27/23 | | | | (4.48 | )% | | | (16,446,523 | ) | | | 94,581 | |
| | | | | | | | | | | | $ | (37,897,196 | ) | | $ | 221,756 | |
| (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, 2023, 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: UltraShort Small-Cap ProFund :: 171
Repurchase Agreements(a)(b) (55.8%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $4,820,564 | | $ | 4,820,000 | | | $ | 4,820,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $4,820,000) | | | | | | | 4,820,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $4,820,000)—55.8% | | | | | | | 4,820,000 | |
| Net other assets (liabilities)—44.2% | | | | | | | 3,812,208 | |
| NET ASSETS—100.0% | | | | | | $ | 8,632,208 | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $2,367,000. |
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 | | 2/27/23 | | | | (4.33 | )% | | $ | (12,799,102 | ) | | $ | 42,445 | |
| Russell 2000 Index | | UBS AG | | 2/27/23 | | | | (3.83 | )% | | | (4,254,154 | ) | | | (43,607 | ) |
| | | | | | | | | | | | $ | (17,053,256 | ) | | $ | (1,162 | ) |
| (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, 2023, 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, 2023 (unaudited)
Common Stocks (65.7%)
| | | Percentage
of Net Assets | | | Shares | | | Value | |
| Agree Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 0.3 | % | | | 1,380 | | | $ | 102,988 | |
| Apellis Pharmaceuticals, Inc.* (Biotechnology)* | | | 0.1 | % | | | 1,478 | | | | 77,934 | |
| Applied Industrial Technologies, Inc. (Trading Companies & Distributors) | | | 0.1 | % | | | 603 | | | | 86,355 | |
| Atkore, Inc.* (Electrical Equipment)* | | | 0.1 | % | | | 650 | | | | 84,662 | |
| Celsius Holdings, Inc.* (Beverages)* | | | 0.1 | % | | | 876 | | | | 87,881 | |
| ChampionX Corp. (Energy Equipment & Services) | | | 0.3 | % | | | 3,157 | | | | 104,243 | |
| Chart Industries, Inc.* (Machinery)* | | | 0.3 | % | | | 673 | | | | 90,168 | |
| Chord Energy Corp. (Oil, Gas & Consumable Fuels) | | | 0.2 | % | | | 654 | | | | 93,738 | |
| Civitas Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 0.1 | % | | | 1,163 | | | | 77,398 | |
| Commercial Metals Co. (Metals & Mining) | | | 0.2 | % | | | 1,842 | | | | 99,964 | |
| Crocs, Inc.* (Textiles, Apparel & Luxury Goods)* | | | 0.2 | % | | | 956 | | | | 116,413 | |
| EMCOR Group, Inc.(Construction & Engineering) | | | 0.2 | % | | | 745 | | | | 110,446 | |
| Evoqua Water Technologies Corp.* (Machinery)* | | | 0.2 | % | | | 1,854 | | | | 89,937 | |
| ExlService Holdings, Inc.* (IT Services)* | | | 0.1 | % | | | 510 | | | | 87,006 | |
| Exponent, Inc. (Professional Services) | | | 0.1 | % | | | 802 | | | | 82,238 | |
| Fluor Corp.* (Construction & Engineering)* | | | 0.1 | % | | | 2,243 | | | | 82,430 | |
| Fox Factory Holding Corp.* (Auto Components)* | | | 0.1 | % | | | 669 | | | | 79,001 | |
| Glacier Bancorp, Inc. (Banks) | | | 0.1 | % | | | 1,752 | | | | 79,874 | |
| Halozyme Therapeutics, Inc.* (Biotechnology)* | | | 0.2 | % | | | 2,098 | | | | 108,612 | |
| HealthEquity, Inc.* (Health Care Providers & Services)* | | | 0.1 | % | | | 1,308 | | | | 79,591 | |
| Helmerich & Payne, Inc. (Energy Equipment & Services) | | | 0.1 | % | | | 1,620 | | | | 78,473 | |
| Houlihan Lokey, Inc. (Capital Markets) | | | 0.1 | % | | | 788 | | | | 78,068 | |
| Inspire Medical Systems, Inc.* (Health Care Technology)* | | | 0.2 | % | | | 445 | | | | 112,612 | |
| Iridium Communications, Inc.* (Diversified Telecommunication Services)* | | | 0.2 | % | | | 1,970 | | | | 117,885 | |
| Karuna Therapeutics, Inc.* (Biotechnology)* | | | 0.2 | % | | | 476 | | | | 94,909 | |
| Kinsale Capital Group, Inc. (Insurance) | | | 0.2 | % | | | 341 | | | | 94,947 | |
| Light & Wonder, Inc.* (Hotels, Restaurants & Leisure)* | | | 0.2 | % | | | 1,488 | | | | 97,092 | |
| Matador Resources Co. (Oil, Gas & Consumable Fuels) | | | 0.2 | % | | | 1,774 | | | | 117,367 | |
| Medpace Holdings, Inc.* (Life Sciences Tools & Services)* | | | 0.1 | % | | | 400 | | | | 88,427 | |
| Murphy Oil Corp. (Oil, Gas & Consumable Fuels) | | | 0.2 | % | | | 2,323 | | | | 101,306 | |
| Murphy USA, Inc. (Specialty Retail) | | | 0.1 | % | | | 330 | | | | 89,770 | |
| Novanta, Inc.* (Electronic Equipment, Instruments & Components)* | | | 0.2 | % | | | 560 | | | | 90,423 | |
| Old National Bancorp (Banks) | | | 0.1 | % | | | 4,623 | | | | 80,903 | |
| RBC Bearings, Inc.* (Machinery)* | | | 0.2 | % | | | 449 | | | | 109,542 | |
| RLI Corp. (Insurance) | | | 0.1 | % | | | 615 | | | | 81,457 | |
| Ryman Hospitality Properties, Inc.—Class I (Equity Real Estate Investment Trusts (REITs)) | | | 0.1 | % | | | 848 | | | | 78,770 | |
| Saia, Inc.* (Road & Rail)* | | | 0.2 | % | | | 418 | | | | 114,021 | |
| Selective Insurance Group, Inc. (Insurance) | | | 0.1 | % | | | 940 | | | | 89,299 | |
| Shockwave Medical, Inc.* (Health Care Equipment & Supplies)* | | | 0.2 | % | | | 561 | | | | 105,428 | |
| Silicon Laboratories, Inc.* (Semiconductors & Semiconductor Equipment)* | | | 0.1 | % | | | 520 | | | | 81,594 | |
| SouthState Corp. (Banks) | | | 0.2 | % | | | 1,181 | | | | 94,009 | |
| SPS Commerce, Inc.* (Software)* | | | 0.1 | % | | | 571 | | | | 77,702 | |
| STAG Industrial, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 0.2 | % | | | 2,844 | | | | 101,245 | |
| Synaptics, Inc.* (Semiconductors & Semiconductor Equipment)* | | | 0.1 | % | | | 626 | | | | 78,269 | |
| Texas Roadhouse, Inc. (Hotels, Restaurants & Leisure) | | | 0.2 | % | | | 1,058 | | | | 106,254 | |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Schedule of Portfolio Investments :: UltraSmall-Cap ProFund :: 173
Common Stocks, continued
| | | Percentage
of Net Assets | | | Shares | | | Value | |
| The Ensign Group, Inc. (Health Care Providers & Services) | | | 0.1 | % | | | 849 | | | $ | 79,168 | |
| UFP Industries, Inc. (Building Products) | | | 0.1 | % | | | 942 | | | | 88,124 | |
| United Bankshares, Inc. (Banks) | | | 0.1 | % | | | 2,058 | | | | 82,733 | |
| Valley National Bancorp (Banks) | | | 0.1 | % | | | 6,791 | | | | 80,677 | |
| Other Common Stocks | | | 58.2 | % | | | 1,849,171 | | | | 34,832,559 | |
TOTAL COMMON STOCKS
(Cost $26,591,421) | | | | | | | | | | | 39,343,912 | |
Right(NM)
| Zogenix, Inc. CVR;*+(a) (Pharmaceuticals) | | | 1,273 | | | | 866 | |
TOTAL RIGHT
(Cost $—) | | | | | | | 866 | |
Trust (0.0%)
| | | Interest
Units | | | Value | |
| Ferroglobe Representation and Warranty Insurance*+ (Metals & Mining) | | | 1,320 | | | $ | — | |
TOTAL TRUST
(Cost $—) | | | | | | | — | |
| | | | | | | | | |
Repurchase Agreements(b)(c) (45.2%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, 4.15%, dated 1/31/23, due 2/1/23, total to be received $27,032,161 | | $ | 27,029,000 | | | $ | 27,029,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $27,029,000) | | | | | | | 27,029,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $53,620,421)—110.9% | | | | | | | 66,373,778 | |
| Net other assets (liabilities)—(10.9)% | | | | | | | (6,524,979 | ) |
| NET ASSETS—100.0% | | | | | | $ | 59,848,799 | |
| * | Non-income producing security. |
| + | These securities were fair valued based on procedures approved by the Board of Trustees. As of January 31, 2023, these securities represented less than 0.005% of the net assets of the Fund. |
| (a) | On March 7, 2022, UCB SA acquired Zogenix Inc. As part of the acquisition, shareholders of Zogenix Inc. are entitled to a CVR per share of Zogenix Inc. held. The CVR has a potential cash payment of $2.00 upon EU approval by December 31, 2023, of FINTEPLA® as an orphan medicine for treatment of Lennox-Gastaut syndrome (LGS). Subsequent to the date of this report, it was determined that the required contingencies of this CVR had been satisfied. Consequently, each outstanding CVR was retired in exchange for a $2.00 cash payment, effective February 24, 2023. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $9,123,000. |
| CVR | Contingent Value Rights |
| NM | Not meaningful, amount is less than 0.05%. |
Futures Contracts Purchased
| | | Number
of
Contracts | | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini Russell 2000 Index Futures Contracts | | | 67 | | | 3/20/23 | | $ | 6,496,990 | | | $ | 392,994 | |
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 | | 2/27/23 | | | | 4.38 | % | | $ | 26,033,306 | | | $ | 359,382 | |
| Russell 2000 Index | | Goldman Sachs International | | 2/27/23 | | | | 4.73 | % | | | 26,568,039 | | | | 539,992 | |
| | | | | | | | | | | | $ | 52,601,345 | | | $ | 899,374 | |
| | | | | | | | | | | | | | | | | | |
| iShares Russell 2000 ETF | | UBS AG | | 2/27/23 | | | | 4.13 | % | | $ | 1,840,187 | | | $ | 17,426 | |
| Russell 2000 Index | | UBS AG | | 2/27/23 | | | | 4.33 | % | | | 19,719,414 | | | | 201,051 | |
| | | | | | | | | | | | $ | 21,559,601 | | | $ | 218,477 | |
| | | | | | | | | | | | $ | 74,160,946 | | | $ | 1,117,851 | |
| (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, 2023, 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, 2023 (unaudited)
UltraSmall-Cap ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 388,451 | | | | 0.6 | % |
| Air Freight & Logistics | | | 163,374 | | | | 0.3 | % |
| Airlines | | | 123,811 | | | | 0.2 | % |
| Auto Components | | | 572,789 | | | | 1.0 | % |
| Automobiles | | | 67,855 | | | | 0.1 | % |
| Banks | | | 3,564,981 | | | | 6.0 | % |
| Beverages | | | 220,372 | | | | 0.4 | % |
| Biotechnology | | | 2,814,840 | | | | 4.7 | % |
| Building Products | | | 526,806 | | | | 0.9 | % |
| Capital Markets | | | 653,170 | | | | 1.1 | % |
| Chemicals | | | 812,487 | | | | 1.4 | % |
| Commercial Services & Supplies | | | 547,287 | | | | 0.9 | % |
| Communications Equipment | | | 352,309 | | | | 0.6 | % |
| Construction & Engineering | | | 630,126 | | | | 1.1 | % |
| Construction Materials | | | 66,437 | | | | 0.1 | % |
| Consumer Discretionary Products | | | 10,818 | | | | NM | |
| Consumer Finance | | | 248,624 | | | | 0.4 | % |
| Containers & Packaging | | | 129,449 | | | | 0.2 | % |
| Distributors | | | 8,606 | | | | NM | |
| Diversified Consumer Services | | | 423,066 | | | | 0.7 | % |
| Diversified Financial Services | | | 125,003 | | | | 0.2 | % |
| Diversified Telecommunication Services | | | 253,979 | | | | 0.4 | % |
| Electric Utilities | | | 273,179 | | | | 0.5 | % |
| Electrical Equipment | | | 568,712 | | | | 0.9 | % |
| Electronic Equipment, Instruments & Components | | | 929,082 | | | | 1.5 | % |
| Energy Equipment & Services | | | 852,310 | | | | 1.4 | % |
| Entertainment | | | 119,675 | | | | 0.2 | % |
| Equity Real Estate Investment Trusts (REITs) | | | 2,348,766 | | | | 3.8 | % |
| Food & Staples Retailing | | | 230,862 | | | | 0.4 | % |
| Food Products | | | 446,037 | | | | 0.7 | % |
| Gas Utilities | | | 404,628 | | | | 0.7 | % |
| Health Care Equipment & Supplies | | | 1,348,980 | | | | 2.3 | % |
| Health Care Providers & Services | | | 989,089 | | | | 1.6 | % |
| Health Care Technology | | | 348,690 | | | | 0.6 | % |
| Hotels, Restaurants & Leisure | | | 998,577 | | | | 1.7 | % |
| Household Durables | | | 672,464 | | | | 1.1 | % |
| Household Products | | | 108,147 | | | | 0.2 | % |
| Independent Power and Renewable Electricity Producers | | | 180,253 | | | | 0.3 | % |
| Industrial Conglomerates | | | 9,287 | | | | NM | |
| Insurance | | | 823,695 | | | | 1.4 | % |
| Interactive Media & Services | | | 271,863 | | | | 0.5 | % |
| Internet & Direct Marketing Retail | | | 167,385 | | | | 0.3 | % |
| IT Services | | | 811,958 | | | | 1.4 | % |
| Leisure Products | | | 249,428 | | | | 0.4 | % |
| Life Sciences Tools & Services | | | 297,643 | | | | 0.5 | % |
| Machinery | | | 1,568,428 | | | | 2.6 | % |
| Marine | | | 96,036 | | | | 0.2 | % |
| Media | | | 361,554 | | | | 0.6 | % |
| Metals & Mining | | | 656,865 | | | | 1.1 | % |
| Mortgage Real Estate Investment Trusts (REITs) | | | 502,897 | | | | 0.8 | % |
| Multiline Retail | | | 32,108 | | | | 0.1 | % |
| Multi-Utilities | | | 186,780 | | | | 0.3 | % |
| Oil, Gas & Consumable Fuels | | | 1,740,854 | | | | 2.9 | % |
| Paper & Forest Products | | | 79,218 | | | | 0.1 | % |
| Personal Products | | | 291,281 | | | | 0.5 | % |
| Pharmaceuticals | | | 718,681 | | | | 1.2 | % |
| Professional Services | | | 621,946 | | | | 1.0 | % |
| Real Estate Management & Development | | | 273,565 | | | | 0.5 | % |
| Road & Rail | | | 247,488 | | | | 0.4 | % |
| Semiconductors & Semiconductor Equipment | | | 1,103,021 | | | | 1.8 | % |
| Software | | | 1,788,133 | | | | 3.0 | % |
| Specialty Retail | | | 915,356 | | | | 1.5 | % |
| Technology Hardware, Storage & Peripherals | | | 152,097 | | | | 0.3 | % |
| Textiles, Apparel & Luxury Goods | | | 287,236 | | | | 0.5 | % |
| Thrifts & Mortgage Finance | | | 583,551 | | �� | | 1.0 | % |
| Tobacco | | | 58,276 | | | | 0.1 | % |
| Trading Companies & Distributors | | | 680,914 | | | | 1.1 | % |
| Water Utilities | | | 186,550 | | | | 0.3 | % |
| Wireless Telecommunication Services | | | 56,593 | | | | 0.1 | % |
| Other** | | | 20,504,021 | | | | 34.3 | % |
| Total | | $ | 59,848,799 | | | | 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: U.S. Government Plus ProFund :: 175
Repurchase Agreements(a)(b) (240.7%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $11,737,372 | | $ | 11,736,000 | | | $ | 11,736,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $11,736,000) | | | | | | | 11,736,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $11,736,000)—240.7% | | | | | | | 11,736,000 | |
| Net other assets (liabilities)—(140.7)%(c) | | | | | | | (6,860,202 | ) |
| NET ASSETS—100.0% | | | | | | $ | 4,875,798 | |
| | | | | | | | | |
| (a) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $194,000. |
| (c) | Amount includes $6,945,428 of net payable for capital shares redeemed. |
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, 4.00%, due 11/15/52 | | Citibank North America | | 2/15/23 | | | | 4.50 | % | | $ | 4,139,993 | | | $ | 59,288 | |
| 30-Year U.S. Treasury Bond, 4.00%, due 11/15/52 | | Societe' Generale | | 2/15/23 | | | | 4.55 | % | | | 1,936,276 | | | | 28,666 | |
| | | | | | | | | | | | $ | 6,076,269 | | | $ | 87,954 | |
| (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, 2023, 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, 2023 (unaudited)
Common Stocks (82.6%)
| | | Shares | | | Value | |
| ALLETE, Inc. (Electric Utilities) | | | 344 | | | $ | 21,280 | |
| Alliant Energy Corp. (Electric Utilities) | | | 1,512 | | | | 81,693 | |
| Ameren Corp. (Multi-Utilities) | | | 1,558 | | | | 135,343 | |
| American Electric Power Co., Inc. (Electric Utilities) | | | 3,096 | | | | 290,900 | |
| American Water Works Co., Inc. (Water Utilities) | | | 1,096 | | | | 171,513 | |
| Atmos Energy Corp. (Gas Utilities) | | | 843 | | | | 99,086 | |
| Avangrid, Inc. (Electric Utilities) | | | 419 | | | | 17,669 | |
| Avista Corp. (Multi-Utilities) | | | 445 | | | | 17,756 | |
| Black Hills Corp. (Multi-Utilities) | | | 392 | | | | 28,373 | |
| CenterPoint Energy, Inc. (Multi-Utilities) | | | 3,793 | | | | 114,245 | |
| Clearway Energy, Inc.—Class A (Independent Power and Renewable Electricity Producers) | | | 208 | | | | 6,666 | |
| Clearway Energy, Inc.—Class C (Independent Power and Renewable Electricity Producers) | | | 495 | | | | 16,726 | |
| CMS Energy Corp. (Multi-Utilities) | | | 1,749 | | | | 110,519 | |
| Consolidated Edison, Inc. (Multi-Utilities) | | | 2,138 | | | | 203,773 | |
| Constellation Energy Corp. (Electric Utilities) | | | 1,970 | | | | 168,159 | |
| Dominion Energy, Inc. (Multi-Utilities) | | | 5,021 | | | | 319,537 | |
| DTE Energy Co. (Multi-Utilities) | | | 1,167 | | | | 135,804 | |
| Duke Energy Corp. (Electric Utilities) | | | 4,640 | | | | 475,368 | |
| Edison International (Electric Utilities) | | | 2,301 | | | | 158,539 | |
| Entergy Corp. (Electric Utilities) | | | 1,226 | | | | 132,751 | |
| Essential Utilities, Inc. (Water Utilities) | | | 1,438 | | | | 67,198 | |
| Evergy, Inc. (Electric Utilities) | | | 1,383 | | | | 86,645 | |
| Eversource Energy (Electric Utilities) | | | 2,099 | | | | 172,811 | |
| Exelon Corp. (Electric Utilities) | | | 5,987 | | | | 252,592 | |
| FirstEnergy Corp. (Electric Utilities) | | | 3,273 | | | | 134,029 | |
| Hawaiian Electric Industries, Inc. (Electric Utilities) | | | 660 | | | | 27,898 | |
| IDACORP, Inc. (Electric Utilities) | | | 305 | | | | 32,272 | |
| National Fuel Gas Co. (Gas Utilities) | | | 551 | | | | 31,991 | |
| New Jersey Resources Corp. (Gas Utilities) | | | 580 | | | | 28,954 | |
| NextEra Energy, Inc. (Electric Utilities) | | | 11,973 | | | | 893,545 | |
| NiSource, Inc. (Multi-Utilities) | | | 2,447 | | | | 67,904 | |
| NorthWestern Corp. (Multi-Utilities) | | | 348 | | | | 19,766 | |
| NRG Energy, Inc. (Electric Utilities) | | | 1,388 | | | | 47,497 | |
| ONE Gas, Inc. (Gas Utilities) | | | 326 | | | | 26,849 | |
| PG&E Corp.* (Electric Utilities) | | | 9,701 | | | | 154,246 | |
| Pinnacle West Capital Corp. (Electric Utilities) | | | 682 | | | | 50,843 | |
| PNM Resources, Inc. (Electric Utilities) | | | 517 | | | | 25,581 | |
| Portland General Electric Co. (Electric Utilities) | | | 538 | | | | 25,598 | |
| PPL Corp. (Electric Utilities) | | | 4,436 | | | | 131,306 | |
| Public Service Enterprise Group, Inc. (Multi-Utilities) | | | 3,006 | | | | 186,162 | |
| Sempra Energy (Multi-Utilities) | | | 1,894 | | | | 303,665 | |
| Southwest Gas Holdings, Inc. (Gas Utilities) | | | 372 | | | | 24,898 | |
| Spire, Inc. (Gas Utilities) | | | 316 | | | | 22,822 | |
| The AES Corp. (Independent Power and Renewable Electricity Producers) | | | 4,025 | | | | 110,326 | |
| The Southern Co. (Electric Utilities) | | | 6,559 | | | | 443,913 | |
| UGI Corp. (Gas Utilities) | | | 1,262 | | | | 50,265 | |
| Vistra Corp. (Independent Power and Renewable Electricity Producers) | | | 2,254 | | | | 51,977 | |
| WEC Energy Group, Inc. (Multi-Utilities) | | | 1,901 | | | | 178,675 | |
| Xcel Energy, Inc. (Electric Utilities) | | | 3,297 | | | | 226,735 | |
TOTAL COMMON STOCKS
(Cost $2,500,334) | | | | | | | 6,582,663 | |
Repurchase Agreements(a)(b)(17.9%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%–4.22%, dated 1/31/23, due 2/1/23, total to be received $1,425,167 | | $ | 1,425,000 | | | $ | 1,425,000 | |
TOTAL REPURCHASE AGREEMENTS
(Cost $1,425,000) | | | | | | | 1,425,000 | |
TOTAL INVESTMENT SECURITIES
(Cost $3,925,334)—100.5% | | | | | | | 8,007,663 | |
| Net other assets (liabilities)—(0.5)% | | | | | | | (40,955 | ) |
| NET ASSETS—100.0% | | | | | | $ | 7,966,708 | |
| * | 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 the 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, 2023, the aggregate amount held in a segregated account was $1,207,000. |
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 | | 2/23/23 | | | | 4.93 | % | | $ | 2,154,562 | | | $ | (5,476 | ) |
| Dow Jones U.S. Utilities Index | | UBS AG | | 2/23/23 | | | | 4.68 | % | | | 3,215,069 | | | | (7,621 | ) |
| | | | | | | | | | | | $ | 5,369,631 | | | $ | (13,097 | ) |
| (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, 2023, 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, 2023 (unaudited) :: Schedule of Portfolio Investments :: Utilities UltraSector ProFund :: 177
Utilities UltraSector ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Electric Utilities | | $ | 4,051,871 | | | | 50.8 | % |
| Gas Utilities | | | 284,865 | | | | 3.6 | % |
| Independent Power and Renewable Electricity Producers | | | 185,695 | | | | 2.3 | % |
| Multi-Utilities | | | 1,821,521 | | | | 22.9 | % |
| Water Utilities | | | 238,711 | | | | 3.0 | % |
| Other** | | | 1,384,045 | | | | 17.4 | % |
| Total | | $ | 7,966,708 | | | | 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.
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Statements of Assets and Liabilities
180 :: Statements of Assets and Liabilities :: January 31, 2023 (unaudited)
| | | Access Flex
Bear High
Yield ProFund | | | Access Flex
High Yield
ProFund | | | Banks
UltraSector
ProFund | | | Bear
ProFund | |
| ASSETS: |
| Total Investment Securities, at cost | | $ | 1,624,000 | | | $ | 24,916,649 | | | $ | 3,403,661 | | | $ | 13,019,000 | |
| Securities, at value(a) | | | — | | | | 16,640,203 | | | | 6,486,099 | | | | — | |
| Repurchase agreements, at value | | | 1,624,000 | | | | 8,431,000 | | | | 1,743,000 | | | | 13,019,000 | |
| Total Investment Securities, at value | | | 1,624,000 | | | | 25,071,203 | | | | 8,229,099 | | | | 13,019,000 | |
| Cash | | | 698 | | | | 827 | | | | 89 | | | | 411 | |
| Segregated cash balances for futures contracts with brokers | | | 27,380 | | | | 25,272 | | | | — | | | | 125,915 | |
| Segregated cash balances for credit default swap agreements with brokers | | | 127,879 | | | | 2,349,206 | | | | — | | | | — | |
| Segregated cash balances for swap agreements with custodian | | | — | | | | — | | | | 67 | | | | 184 | |
| Dividends and interest receivable | | | 190 | | | | 57,334 | | | | 4,323 | | | | 1,523 | |
| Receivable for capital shares issued | | | — | | | | 8,242 | | | | 131,529 | | | | 108,349 | |
| Due from Advisor under a Receivables Agreement | | | 295,692 | | | | — | | | | — | | | | — | |
| Due from Advisor under an expense limitation agreement | | | 4,115 | | | | — | | | | — | | | | — | |
| Receivable for closed swap agreements | | | 3,602 | | | | — | | | | — | | | | — | |
| Unrealized appreciation on swap agreements | | | — | | | | — | | | | 150,410 | | | | — | |
| Variation margin on futures contracts | | | — | | | | 9,281 | | | | — | | | | — | |
| Variation margin on credit default swap agreements | | | — | | | | 161,134 | | | | — | | | | — | |
| Prepaid expenses | | | 18,206 | | | | 21,124 | | | | 8,299 | | | | 19,267 | |
| TOTAL ASSETS | | | 2,101,762 | | | | 27,703,623 | | | | 8,523,816 | | | | 13,274,649 | |
| LIABILITIES: | | | | | | | | | | | | | | | | |
| Payable for collateral for securities loaned | | | — | | | | — | | | | — | | | | — | |
| Payable for capital shares redeemed | | | 1,967 | | | | 3,761 | | | | 109,546 | | | | 682,905 | |
| Unrealized depreciation on swap agreements | | | — | | | | — | | | | — | | | | 24,752 | |
| Variation margin on futures contracts | | | 6,750 | | | | — | | | | — | | | | 25,875 | |
| Variation margin on credit default swap agreements | | | 13,465 | | | | — | | | | — | | | | — | |
| Advisory fees payable | | | — | | | | 16,948 | | | | 5,182 | | | | 13,632 | |
| Management services fees payable | | | — | | | | 3,390 | | | | 1,037 | | | | 2,727 | |
| Administration fees payable | | | 191 | | | | 2,427 | | | | 325 | | | | 1,127 | |
| Distribution and services fees payable—Service Class | | | 15 | | | | 1,726 | | | | 305 | | | | 1,570 | |
| Transfer agency fees payable | | | 232 | | | | 3,172 | | | | 1,012 | | | | 2,433 | |
| Fund accounting fees payable | | | 108 | | | | 1,370 | | | | 449 | | | | 1,221 | |
| Compliance services fees payable | | | 13 | | | | 105 | | | | 42 | | | | 168 | |
| Service fees payable | | | 16 | | | | 207 | | | | 64 | | | | 185 | |
| Other accrued expenses | | | 200 | | | | 35,186 | | | | 16,227 | | | | 8,950 | |
| TOTAL LIABILITIES | | | 22,957 | | | | 68,292 | | | | 134,189 | | | | 765,545 | |
| NET ASSETS | | $ | 2,078,805 | | | $ | 27,635,331 | | | $ | 8,389,627 | | | $ | 12,509,104 | |
| NET ASSETS CONSIST OF: | | | | | | | | | | | | | | | | |
| Capital | | $ | 7,525,352 | | | $ | 28,027,395 | | | $ | 10,366,960 | | | $ | 79,689,663 | |
| Total distributable earnings (loss) | | | (5,446,547 | ) | | | (392,064 | ) | | | (1,977,333 | ) | | | (67,180,559 | ) |
| NET ASSETS | | $ | 2,078,805 | | | $ | 27,635,331 | | | $ | 8,389,627 | | | $ | 12,509,104 | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Investor Class | | $ | 2,061,405 | | | $ | 25,582,468 | | | $ | 8,008,581 | | | $ | 11,393,327 | |
| Service Class | | | 17,400 | | | | 2,052,863 | | | | 381,046 | | | | 1,115,777 | |
SHARES OF BENEFICIAL INTEREST OUTSTANDING
(unlimited number of shares authorized, no par value): | | | | | | | | | | | | | | | | |
| Investor Class | | | 66,921 | | | | 861,009 | | | | 162,838 | | | | 708,734 | |
| Service Class | | | 668 | | | | 69,964 | | | | 8,556 | | | | 77,417 | |
NET ASSET VALUE
(offering and redemption price per share): | | | | | | | | | | | | | | | | |
| Investor Class | | $ | 30.80 | | | $ | 29.71 | | | $ | 49.18 | | | $ | 16.08 | |
| Service Class | | | 26.05 | | | | 29.34 | | | | 44.54 | | | | 14.41 | |
| (a) Includes securities on loan valued at: | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
Amounts designated as " – " are $0 or have been rounded to $0.
| * | As described in Note 11, effective March 17, 2023, this ProFund's name changed due to a change to its underlying benchmark index. |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Statements of Assets and Liabilities :: 181
Biotechnology
UltraSector
ProFund | | | Bull
ProFund | | | Communication
Services
UltraSector
ProFund | | | Consumer
Discretionary
UltraSector
ProFund* | | | Consumer
Staples
UltraSector
ProFund* | | | Energy
UltraSector
ProFund* | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 70,208,397 | | | $ | 17,781,256 | | | $ | 3,614,323 | | | $ | 12,801,964 | | | $ | 1,689,598 | | | $ | 32,062,073 | |
| | 98,782,923 | | | | 25,378,935 | | | | 2,858,121 | | | | 22,513,487 | | | | 2,737,792 | | | | 43,062,576 | |
| | 24,756,000 | | | | 10,316,000 | | | | 1,236,000 | | | | 5,923,000 | | | | 725,000 | | | | 11,876,000 | |
| | 123,538,923 | | | | 35,694,935 | | | | 4,094,121 | | | | 28,436,487 | | | | 3,462,792 | | | | 54,938,576 | |
| | 148 | | | | 724 | | | | 994 | | | | 369 | | | | 557 | | | | 101 | |
| | — | | | | 223,388 | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | — | | | | 19 | | | | — | | | | 692 | | | | 113 | |
| | 187,771 | | | | 21,483 | | | | 5,758 | | | | 5,994 | | | | 3,135 | | | | 27,010 | |
| | 21,497 | | | | 73,277 | | | | 177,679 | | | | 27,916 | | | | 388,253 | | | | 895,356 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | 12,940 | | | | 54,822 | | | | 497,412 | | | | 92,362 | | | | — | |
| | — | | | | 43,125 | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 15,553 | | | | 19,062 | | | | 6,940 | | | | 18,483 | | | | 16,155 | | | | 9,934 | |
| | 123,763,892 | | | | 36,088,934 | | | | 4,340,333 | | | | 28,986,661 | | | | 3,963,946 | | | | 55,871,090 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 239,232 | | | | 4,804 | | | | — | | | | 104,643 | | | | 16,620 | | | | 212,696 | |
| | 221,273 | | | | 201,857 | | | | 233,048 | | | | 190,160 | | | | 64,121 | | | | 396,540 | |
| | 1,135,725 | | | | — | | | | — | | | | — | | | | — | | | | 275,229 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 78,657 | | | | 20,924 | | | | 1,278 | | | | 17,067 | | | | 1,127 | | | | 34,299 | |
| | 15,732 | | | | 4,185 | | | | 256 | | | | 3,413 | | | | 226 | | | | 6,860 | |
| | 4,913 | | | | 1,577 | | | | 145 | | | | 1,072 | | | | 132 | | | | 2,145 | |
| | 2,737 | | | | 3,563 | | | | 166 | | | | 451 | | | | 117 | | | | 1,886 | |
| | 12,553 | | | | 6,782 | | | | 398 | | | | 2,519 | | | | 414 | | | | 6,663 | |
| | 6,429 | | | | 2,004 | | | | 204 | | | | 1,478 | | | | 231 | | | | 2,818 | |
| | 641 | | | | 203 | | | | 19 | | | | 147 | | | | 21 | | | | 268 | |
| | 971 | | | | 259 | | | | 29 | | | | 212 | | | | 26 | | | | 424 | |
| | 129,981 | | | | 41,227 | | | | 5,740 | | | | 36,941 | | | | 5,228 | | | | 41,772 | |
| | 1,848,844 | | | | 287,385 | | | | 241,283 | | | | 358,103 | | | | 88,263 | | | | 981,600 | |
| $ | 121,915,048 | | | $ | 35,801,549 | | | $ | 4,099,050 | | | $ | 28,628,558 | | | $ | 3,875,683 | | | $ | 54,889,490 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 72,721,883 | | | $ | 19,084,945 | | | $ | 6,288,340 | | | $ | 18,117,091 | | | $ | 3,329,915 | | | $ | 34,740,331 | |
| | 49,193,165 | | | | 16,716,604 | | | | (2,189,290 | ) | | | 10,511,467 | | | | 545,768 | | | | 20,149,159 | |
| $ | 121,915,048 | | | $ | 35,801,549 | | | $ | 4,099,050 | | | $ | 28,628,558 | | | $ | 3,875,683 | | | $ | 54,889,490 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 118,743,248 | | | $ | 31,502,749 | | | $ | 3,990,895 | | | $ | 28,117,416 | | | $ | 3,728,441 | | | $ | 52,404,125 | |
| | 3,171,800 | | | | 4,298,800 | | | | 108,155 | | | | 511,142 | | | | 147,242 | | | | 2,485,365 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 1,963,492 | | | | 610,587 | | | | 45,542 | | | | 625,701 | | | | 52,269 | | | | 1,166,058 | |
| | 79,062 | | | | 108,016 | | | | 1,542 | | | | 14,041 | | | | 2,370 | | | | 64,821 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 60.48 | | | $ | 51.59 | | | $ | 87.63 | | | $ | 44.94 | | | $ | 71.33 | | | $ | 44.94 | |
| | 40.12 | | | | 39.80 | | | | 70.14 | | | | 36.40 | | | | 62.13 | | | | 38.34 | |
| $ | 240,605 | | | $ | 4,791 | | | $ | — | | | $ | 104,089 | | | $ | 16,944 | | | $ | 209,602 | |
See accompanying notes to the financial statements.
182 :: Statements of Assets and Liabilities :: January 31, 2023 (unaudited)
| | | Europe 30
ProFund | | | Falling U.S.
Dollar
ProFund | | | Financials
UltraSector
ProFund | | | Health Care
UltraSector
ProFund | |
| ASSETS: |
| Total Investment Securities, at cost | | $ | 2,217,260 | | | $ | 3,054,000 | | | $ | 2,214,169 | | | $ | 8,483,927 | |
| Securities, at value(a) | | | 3,114,563 | | | | — | | | | 4,198,562 | | | | 13,172,962 | |
| Repurchase agreements, at value | | | — | | | | 3,054,000 | | | | 1,069,000 | | | | 4,457,000 | |
| Total Investment Securities, at value | | | 3,114,563 | | | | 3,054,000 | | | | 5,267,562 | | | | 17,629,962 | |
| Cash | | | — | | | | 842 | | | | 293 | | | | 16 | |
| Segregated cash balances for swap agreements with custodian | | | — | | | | 901 | | | | 885 | | | | 1,121 | |
| Unrealized appreciation on forward currency contracts | | | — | | | | 31,524 | | | | — | | | | — | |
| Dividends and interest receivable | | | 3,739 | | | | 357 | | | | 3,259 | | | | 19,175 | |
| Receivable for investments sold | | | 150,232 | | | | — | | | | — | | | | — | |
| Receivable for capital shares issued | | | 96,367 | | | | 1,642 | | | | 309,570 | | | | 182,739 | |
| Due from Advisor under an expense limitation agreement | | | 130 | | | | 3,596 | | | | — | | | | — | |
| Unrealized appreciation on swap agreements | | | — | | | | — | | | | 84,913 | | | | — | |
| Prepaid expenses | | | 17,816 | | | | 12,519 | | | | 12,496 | | | | 10,137 | |
| Receivable for tax reclaims | | | 5,182 | | | | — | | | | — | | | | — | |
| TOTAL ASSETS | | | 3,388,029 | | | | 3,105,381 | | | | 5,678,978 | | | | 17,843,150 | |
| LIABILITIES: | | | | | | | | | | | | | | | | |
| Cash overdraft | | | 19,996 | | | | — | | | | — | | | | — | |
| Payable for collateral for securities loaned | | | 513,713 | | | | — | | | | 13,552 | | | | 6,877 | |
| Payable for capital shares redeemed | | | 236,005 | | | | 2,738 | | | | 96,080 | | | | 184,758 | |
| Unrealized depreciation on forward currency contracts | | | — | | | | 815 | | | | — | | | | — | |
| Unrealized depreciation on swap agreements | | | — | | | | — | | | | — | | | | 103,187 | |
| Advisory fees payable | | | — | | | | — | | | | 2,918 | | | | 10,772 | |
| Management services fees payable | | | — | | | | — | | | | 584 | | | | 2,154 | |
| Administration fees payable | | | 131 | | | | 151 | | | | 211 | | | | 672 | |
| Distribution and services fees payable—Service Class | | | 522 | | | | 16 | | | | 386 | | | | 900 | |
| Transfer agency fees payable | | | 519 | | | | 294 | | | | 752 | | | | 2,194 | |
| Fund accounting fees payable | | | 159 | | | | 163 | | | | 411 | | | | 954 | |
| Compliance services fees payable | | | 12 | | | | 7 | | | | 28 | | | | 95 | |
| Service fees payable | | | 21 | | | | 25 | | | | 42 | | | | 133 | |
| Other accrued expenses | | | 2,058 | | | | 10,411 | | | | 5,362 | | | | 21,412 | |
| TOTAL LIABILITIES | | | 773,136 | | | | 14,620 | | | | 120,326 | | | | 334,108 | |
| NET ASSETS | | $ | 2,614,893 | | | $ | 3,090,761 | | | $ | 5,558,652 | | | $ | 17,509,042 | |
| NET ASSETS CONSIST OF: | | | | | | | | | | | | | | | | |
| Capital | | $ | 6,947,755 | | | $ | 5,700,174 | | | $ | 4,915,757 | | | $ | 11,317,829 | |
| Total distributable earnings (loss) | | | (4,332,862 | ) | | | (2,609,413 | ) | | | 642,895 | | | | 6,191,213 | |
| NET ASSETS | | $ | 2,614,893 | | | $ | 3,090,761 | | | $ | 5,558,652 | | | $ | 17,509,042 | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Investor Class | | $ | 1,946,873 | | | $ | 3,065,790 | | | $ | 5,077,979 | | | $ | 16,455,313 | |
| Service Class | | | 668,020 | | | | 24,971 | | | | 480,673 | | | | 1,053,729 | |
SHARES OF BENEFICIAL INTEREST OUTSTANDING
(unlimited number of shares authorized, no par value): | | | | | | | | | | | | | | | | |
| Investor Class | | | 143,078 | | | | 214,616 | | | | 176,171 | | | | 165,715 | |
| Service Class | | | 45,361 | | | | 1,954 | | | | 20,391 | | | | 13,187 | |
NET ASSET VALUE
(offering and redemption price per share): | | | | | | | | | | | | | | | | |
| Investor Class | | $ | 13.61 | | | $ | 14.29 | | | $ | 28.82 | | | $ | 99.30 | |
| Service Class | | | 14.73 | | | | 12.78 | | | | 23.57 | | | | 79.91 | |
| (a) Includes securities on loan valued at: | | $ | 497,594 | | | $ | — | | | $ | 13,590 | | | $ | 6,925 | |
Amounts designated as " – " are $0 or have been rounded to $0.
| * | As described in Note 11, effective March 17, 2023, this ProFund's name changed due to a change to its underlying benchmark index. |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Statements of Assets and Liabilities :: 183
Industrials
UltraSector
ProFund | | | Internet
UltraSector
ProFund | | | Large-Cap
Growth
ProFund | | | Large-Cap
Value
ProFund | | | Materials
UltraSector
ProFund* | | | Mid-Cap
Growth
ProFund | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 2,224,993 | | | $ | 53,376,929 | | | $ | 5,178,236 | | | $ | 9,407,776 | | | $ | 3,422,649 | | | $ | 2,499,578 | |
| | 3,184,769 | | | | 54,228,495 | | | | 9,527,721 | | | | 11,545,543 | | | | 4,465,169 | | | | 3,443,539 | |
| | 788,000 | | | | 15,493,000 | | | | 8,000 | | | | 85,000 | | | | 1,626,000 | | | | 13,000 | |
| | 3,972,769 | | | | 69,721,495 | | | | 9,535,721 | | | | 11,630,543 | | | | 6,091,169 | | | | 3,456,539 | |
| | 378 | | | | 73 | | | | 526 | | | | 225 | | | | 604 | | | | 407 | |
| | 49 | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 1,756 | | | | 1,813 | | | | 7,166 | | | | 19,608 | | | | 3,855 | | | | 768 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 11,133 | | | | 431,108 | | | | 2,233 | | | | 32,225 | | | | 54,914 | | | | 4,110 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 40,744 | | | | 1,226,744 | | | | — | | | | — | | | | 106,613 | | | | — | |
| | 16,253 | | | | 15,514 | | | | 12,488 | | | | 16,715 | | | | 9,632 | | | | 9,750 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 4,043,082 | | | | 71,396,747 | | | | 9,558,134 | | | | 11,699,316 | | | | 6,266,787 | | | | 3,471,574 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 5,006 | | | | — | | | | — | | | | 320 | | | | 22,671 | | | | — | |
| | 2,979 | | | | 481,315 | | | | 72,219 | | | | 52,855 | | | | 136,818 | | | | 2,194 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 1,718 | | | | 40,584 | | | | 5,797 | | | | 13,987 | | | | 3,198 | | | | 612 | |
| | 344 | | | | 8,117 | | | | 1,159 | | | | 2,798 | | | | 639 | | | | 122 | |
| | 165 | | | | 2,551 | | | | 437 | | | | 1,054 | | | | 234 | | | | 157 | |
| | 236 | | | | 2,434 | | | | 1,098 | | | | 2,202 | | | | 506 | | | | 418 | |
| | 592 | | | | 6,455 | | | | 1,357 | | | | 2,742 | | | | 882 | | | | 452 | |
| | 335 | | | | 3,347 | | | | 614 | | | | 1,395 | | | | 328 | | | | 309 | |
| | 20 | | | | 362 | | | | 51 | | | | 49 | | | | 26 | | | | 17 | |
| | 33 | | | | 504 | | | | 72 | | | | 173 | | | | 46 | | | | 26 | |
| | 5,376 | | | | 100,015 | | | | 10,732 | | | | 8,213 | | | | 7,342 | | | | 3,366 | |
| | 16,804 | | | | 645,684 | | | | 93,536 | | | | 85,788 | | | | 172,690 | | | | 7,673 | |
| $ | 4,026,278 | | | $ | 70,751,063 | | | $ | 9,464,598 | | | $ | 11,613,528 | | | $ | 6,094,097 | | | $ | 3,463,901 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 2,351,900 | | | $ | 102,026,762 | | | $ | 3,944,417 | | | $ | 12,463,533 | | | $ | 5,138,771 | | | $ | 2,925,971 | |
| | 1,674,378 | | | | (31,275,699 | ) | | | 5,520,181 | | | | (850,005 | ) | | | 955,326 | | | | 537,930 | |
| $ | 4,026,278 | | | $ | 70,751,063 | | | $ | 9,464,598 | | | $ | 11,613,528 | | | $ | 6,094,097 | | | $ | 3,463,901 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 3,739,975 | | | $ | 67,654,132 | | | $ | 8,133,058 | | | $ | 8,939,601 | | | $ | 5,502,532 | | | $ | 2,940,170 | |
| | 286,303 | | | | 3,096,931 | | | | 1,331,540 | | | | 2,673,927 | | | | 591,565 | | | | 523,731 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 77,325 | | | | 2,478,136 | | | | 70,998 | | | | 101,573 | | | | 50,662 | | | | 33,774 | |
| | 7,068 | | | | 174,832 | | | | 14,697 | | | | 34,943 | | | | 6,330 | | | | 8,126 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 48.37 | | | $ | 27.30 | | | $ | 114.55 | | | $ | 88.01 | | | $ | 108.61 | | | $ | 87.05 | |
| | 40.51 | | | | 17.71 | | | | 90.60 | | | | 76.52 | | | | 93.45 | | | | 64.45 | |
| $ | 5,122 | | | $ | — | | | $ | — | | | $ | 319 | | | $ | 23,398 | | | $ | — | |
See accompanying notes to the financial statements.
184 :: Statements of Assets and Liabilities :: January 31, 2023 (unaudited)
| | | Mid-Cap
ProFund | | | Mid-Cap Value
ProFund | | | Nasdaq-100
ProFund | | | Oil & Gas
Equipment &
Services
UltraSector
ProFund* | |
| ASSETS: |
| Total Investment Securities, at cost | | $ | 11,449,379 | | | $ | 11,589,358 | | | $ | 108,888,929 | | | $ | 10,694,574 | |
| Securities, at value(a) | | | 10,786,001 | | | | 13,061,640 | | | | 37,850,855 | | | | 16,720,054 | |
| Repurchase agreements, at value | | | 2,702,000 | | | | 78,000 | | | | 91,371,000 | | | | 3,206,000 | |
| Total Investment Securities, at value | | | 13,488,001 | | | | 13,139,640 | | | | 129,221,855 | | | | 19,926,054 | |
| Cash | | | — | | | | — | | | | 83 | | | | 206 | |
| Segregated cash balances for futures contracts with brokers | | | — | | | | — | | | | 94,867 | | | | — | |
| Segregated cash balances for swap agreements with custodian | | | — | | | | — | | | | 671 | | | | 454 | |
| Unrealized appreciation on forward currency contracts | | | — | | | | — | | | | — | | | | — | |
| Dividends and interest receivable | | | 3,377 | | | | 3,955 | | | | 15,132 | | | | 375 | |
| Receivable for capital shares issued | | | 222 | | | | 37,025 | | | | 216,842 | | | | 291,629 | |
| Receivable for closed forward currency contracts | | | — | | | | — | | | | — | | | | — | |
| Due from Advisor under a Receivables Agreement | | | — | | | | — | | | | — | | | | — | |
| Unrealized appreciation on swap agreements | | | 32,730 | | | | — | | | | 721,216 | | | | 547,809 | |
| Variation margin on futures contracts | | | — | | | | — | | | | 66,240 | | | | — | |
| Prepaid expenses | | | 12,705 | | | | 15,413 | | | | 13,241 | | | | 8,921 | |
| TOTAL ASSETS | | | 13,537,035 | | | | 13,196,033 | | | | 130,350,147 | | | | 20,775,448 | |
| LIABILITIES: | | | | | | | | | | | | | | | | |
| Cash overdraft | | | 325 | | | | 2,218 | | | | — | | | | — | |
| Payable for collateral for securities loaned | | | 70,397 | | | | 171,810 | | | | 243,474 | | | | — | |
| Payable for capital shares redeemed | | | 1,942 | | | | 133,192 | | | | 16,266,390 | | | | 189,391 | |
| Unrealized depreciation on forward currency contracts | | | — | | | | — | | | | — | | | | — | |
| Unrealized depreciation on swap agreements | | | — | | | | — | | | | 89,222 | | | | — | |
| Advisory fees payable | | | 6,967 | | | | 3,467 | | | | 47,458 | | | | 16,893 | |
| Management services fees payable | | | 1,393 | | | | 693 | | | | 10,170 | | | | 3,379 | |
| Administration fees payable | | | 579 | | | | 386 | | | | 3,839 | | | | 1,058 | |
| Distribution and services fees payable—Service Class | | | 5,082 | | | | 717 | | | | 4,347 | | | | 5,773 | |
| Transfer agency fees payable | | | 1,704 | | | | 1,226 | | | | 11,013 | | | | 4,628 | |
| Fund accounting fees payable | | | 862 | | | | 591 | | | | 4,211 | | | | 1,394 | |
| Compliance services fees payable | | | 33 | | | | 39 | | | | 499 | | | | 108 | |
| Service fees payable | | | 95 | | | | 63 | | | | 630 | | | | 209 | |
| Other accrued expenses | | | 10,625 | | | | 5,088 | | | | 143,670 | | | | 22,205 | |
| TOTAL LIABILITIES | | | 100,004 | | | | 319,490 | | | | 16,824,923 | | | | 245,038 | |
| NET ASSETS | | $ | 13,437,031 | | | $ | 12,876,543 | | | $ | 113,525,224 | | | $ | 20,530,410 | |
| NET ASSETS CONSIST OF: | | | | | | | | | | | | | | | | |
| Capital | | $ | 12,669,853 | | | $ | 12,327,254 | | | $ | 97,994,207 | | | $ | 32,270,853 | |
| Total distributable earnings (loss) | | | 767,178 | | | | 549,289 | | | | 15,531,017 | | | | (11,740,443 | ) |
| NET ASSETS | | $ | 13,437,031 | | | $ | 12,876,543 | | | $ | 113,525,224 | | | $ | 20,530,410 | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Investor Class | | $ | 6,834,008 | | | $ | 11,985,075 | | | $ | 107,758,990 | | | $ | 19,914,753 | |
| Service Class | | | 6,603,023 | | | | 891,468 | | | | 5,766,234 | | | | 615,657 | |
SHARES OF BENEFICIAL INTEREST OUTSTANDING
(unlimited number of shares authorized, no par value): | | | | | | | | | | | | | | | | |
| Investor Class | | | 63,596 | | | | 117,405 | | | | 1,010,250 | | | | 166,754 | |
| Service Class | | | 78,089 | | | | 11,014 | | | | 69,222 | | | | 5,852 | |
NET ASSET VALUE
(offering and redemption price per share): | | | | | | | | | | | | | | | | |
| Investor Class | | $ | 107.46 | | | $ | 102.08 | | | $ | 106.67 | | | $ | 119.43 | |
| Service Class | | | 84.56 | | | | 80.94 | | | | 83.30 | | | | 105.20 | |
| (a) Includes securities on loan valued at: | | $ | 71,216 | | | $ | 173,782 | | | $ | 242,966 | | | $ | — | |
Amounts designated as " – " are $0 or have been rounded to $0
* As described in Note 11, effective March 17, 2023, this ProFund's name changed due to a change to its underlying benchmark index.
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Statements of Assets and Liabilities :: 185
Pharmaceuticals
UltraSector
ProFund | | | Precious
Metals
UltraSector
ProFund | | | Real Estate
UltraSector
ProFund | | | Rising Rates
Opportunity
ProFund | | | Rising Rates
Opportunity 10
ProFund | | | Rising
U.S. Dollar
ProFund | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 3,763,126 | | | $ | 16,719,737 | | | $ | 2,948,573 | | | $ | 16,889,000 | | | $ | 3,100,000 | | | $ | 17,813,000 | |
| | 2,988,043 | | | | 20,444,049 | | | | 4,314,787 | | | | — | | | | — | | | | — | |
| | 1,428,000 | | | | 6,613,000 | | | | 1,067,000 | | | | 16,889,000 | | | | 3,100,000 | | | | 17,813,000 | |
| | 4,416,043 | | | | 27,057,049 | | | | 5,381,787 | | | | 16,889,000 | | | | 3,100,000 | | | | 17,813,000 | |
| | 382 | | | | 311 | | | | 461 | | | | 677 | | | | 799 | | | | 338 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | — | | | | — | | | | 61 | | | | 7 | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | 25,020 | |
| | 2,584 | | | | 812 | | | | 4,064 | | | | 1,975 | | | | 362 | | | | 2,083 | |
| | 117,782 | | | | 418,441 | | | | 45,428 | | | | 728,187 | | | | — | | | | 176,750 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | 8,314 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | 681,711 | |
| | 1,983 | | | | — | | | | 109,832 | | | | — | | | | — | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 11,367 | | | | 12,330 | | | | 8,519 | | | | 6,227 | | | | 16,575 | | | | 21,418 | |
| | 4,550,141 | | | | 27,488,943 | | | | 5,550,091 | | | | 17,626,127 | | | | 3,117,743 | | | | 18,728,634 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 20,968 | | | | 1,613,841 | | | | — | | | | — | | | | — | | | | — | |
| | 79,312 | | | | 814,281 | | | | 100,281 | | | | 212,117 | | | | 18,414 | | | | 384,810 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | 269,105 | |
| | 7,846 | | | | 290,392 | | | | — | | | | 86,003 | | | | 12,966 | | | | — | |
| | 947 | | | | 15,981 | | | | 2,741 | | | | 12,905 | | | | 331 | | | | 13,877 | |
| | 189 | | | | 3,196 | | | | 548 | | | | 2,581 | | | | 66 | | | | 2,775 | |
| | 161 | | | | 1,002 | | | | 208 | | | | 804 | | | | 127 | | | | 1,044 | |
| | 245 | | | | 1,432 | | | | 253 | | | | 1,983 | | | | 662 | | | | 64 | |
| | 522 | | | | 3,297 | | | | 700 | | | | 3,101 | | | | 710 | | | | 3,282 | |
| | 233 | | | | 1,325 | | | | 318 | | | | 1,047 | | | | 165 | | | | 1,129 | |
| | 27 | | | | 106 | | | | 31 | | | | 181 | | | | 34 | | | | 156 | |
| | 32 | | | | 198 | | | | 41 | | | | 159 | | | | 25 | | | | 171 | |
| | 2,833 | | | | 22,120 | | | | 10,006 | | | | 22,781 | | | | 3,490 | | | | 17,777 | |
| | 113,315 | | | | 2,767,171 | | | | 115,127 | | | | 343,662 | | | | 36,990 | | | | 694,190 | |
| $ | 4,436,826 | | | $ | 24,721,772 | | | $ | 5,434,964 | | | $ | 17,282,465 | | | $ | 3,080,753 | | | $ | 18,034,444 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 4,506,807 | | | $ | 79,365,967 | | | $ | 7,702,270 | | | $ | 58,345,822 | | | $ | 6,575,810 | | | $ | 20,411,615 | |
| | (69,981 | ) | | | (54,644,195 | ) | | | (2,267,306 | ) | | | (41,063,357 | ) | | | (3,495,057 | ) | | | (2,377,171 | ) |
| $ | 4,436,826 | | | $ | 24,721,772 | | | $ | 5,434,964 | | | $ | 17,282,465 | | | $ | 3,080,753 | | | $ | 18,034,444 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 4,165,871 | | | $ | 23,152,236 | | | $ | 5,094,867 | | | $ | 14,801,408 | | | $ | 2,313,073 | | | $ | 17,978,432 | |
| | 270,955 | | | | 1,569,536 | | | | 340,097 | | | | 2,481,057 | | | | 767,680 | | | | 56,012 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 150,815 | | | | 437,299 | | | | 117,372 | | | | 415,865 | | | | 160,051 | | | | 614,383 | |
| | 11,784 | | | | 35,429 | | | | 8,447 | | | | 80,487 | | | | 58,593 | | | | 2,229 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 27.62 | | | $ | 52.94 | | | $ | 43.41 | | | $ | 35.59 | | | $ | 14.45 | | | $ | 29.26 | |
| | 22.99 | | | | 44.30 | | | | 40.26 | | | | 30.83 | | | | 13.10 | | | | 25.13 | |
| $ | 20,831 | | | $ | 1,550,949 | | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
See accompanying notes to the financial statements.
186 :: Statements of Assets and Liabilities :: January 31, 2023 (unaudited)
| | | Semiconductor
UltraSector
ProFund | | | Short Energy
ProFund* | | | Short
Nasdaq-100
ProFund | | | Short Precious
Metals
ProFund | |
| ASSETS: |
| Total Investment Securities, at cost | | $ | 39,622,126 | | | $ | 1,423,000 | | | $ | 8,301,000 | | | $ | 4,065,000 | |
| Securities, at value(a) | | | 48,267,741 | | | | — | | | | — | | | | — | |
| Repurchase agreements, at value | | | 22,506,000 | | | | 1,423,000 | | | | 8,301,000 | | | | 4,065,000 | |
| Total Investment Securities, at value | | | 70,773,741 | | | | 1,423,000 | | | | 8,301,000 | | | | 4,065,000 | |
| Cash | | | 571 | | | | 53 | | | | 134 | | | | 564 | |
| Segregated cash balances for futures contracts with brokers | | | — | | | | — | | | | 67,314 | | | | — | |
| Segregated cash balances for swap agreements with custodian | | | 1,516 | | | | — | | | | — | | | | — | |
| Dividends and interest receivable | | | 28,783 | | | | 166 | | | | 971 | | | | 475 | |
| Receivable for investments sold | | | — | | | | — | | | | — | | | | — | |
| Receivable for capital shares issued | | | 2,188,867 | | | | 41,481 | | | | 4,468 | | | | 745,499 | |
| Due from Advisor under an expense limitation agreement | | | — | | | | 1,250 | | | | — | | | | 628 | |
| Unrealized appreciation on swap agreements | | | 24,381 | | | | 11,201 | | | | 18,095 | | | | — | |
| Prepaid expenses | | | 12,437 | | | | 10,112 | | | | 2,883 | | | | 19,624 | |
| TOTAL ASSETS | | | 73,030,296 | | | | 1,487,263 | | | | 8,394,865 | | | | 4,831,790 | |
| LIABILITIES: | | | | | | | | | | | | | | | | |
| Cash overdraft | | | — | | | | — | | | | — | | | | — | |
| Payable for investments purchased | | | 3,018,336 | | | | — | | | | — | | | | — | |
| Payable for collateral for securities loaned | | | 93,765 | | | | — | | | | — | | | | — | |
| Payable for capital shares redeemed | | | 6,119,656 | | | | 221,866 | | | | 745,302 | | | | 28,289 | |
| Unrealized depreciation on swap agreements | | | — | | | | — | | | | 3,624 | | | | 26,499 | |
| Variation margin on futures contracts | | | — | | | | — | | | | 11,040 | | | | — | |
| Advisory fees payable | | | 36,138 | | | | — | | | | 18,488 | | | | — | |
| Management services fees payable | | | 7,228 | | | | — | | | | 3,698 | | | | — | |
| Administration fees payable | | | 2,273 | | | | 79 | | | | 1,403 | | | | 103 | |
| Distribution and services fees payable—Service Class | | | 2,382 | | | | 11 | | | | 932 | | | | 16 | |
| Transfer agency fees payable | | | 6,127 | | | | 251 | | | | 2,300 | | | | 345 | |
| Fund accounting fees payable | | | 2,980 | | | | 103 | | | | 1,519 | | | | 134 | |
| Compliance services fees payable | | | 287 | | | | 12 | | | | 140 | | | | 27 | |
| Service fees payable | | | 449 | | | | 16 | | | | 230 | | | | 20 | |
| Other accrued expenses | | | 68,671 | | | | 1,699 | | | | 38,447 | | | | 5,003 | |
| TOTAL LIABILITIES | | | 9,358,292 | | | | 224,037 | | | | 827,123 | | | | 60,436 | |
| NET ASSETS | | $ | 63,672,004 | | | $ | 1,263,226 | | | $ | 7,567,742 | | | $ | 4,771,354 | |
| NET ASSETS CONSIST OF: | | | | | | | | | | | | | | | | |
| Capital | | $ | 54,330,261 | | | $ | 3,571,812 | | | $ | 21,631,244 | | | $ | 15,438,949 | |
| Total distributable earnings (loss) | | | 9,341,743 | | | | (2,308,586 | ) | | | (14,063,502 | ) | | | (10,667,595 | ) |
| NET ASSETS | | $ | 63,672,004 | | | $ | 1,263,226 | | | $ | 7,567,742 | | | $ | 4,771,354 | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Investor Class | | $ | 60,630,663 | | | $ | 1,260,034 | | | $ | 7,189,803 | | | $ | 4,759,868 | |
| Service Class | | | 3,041,341 | | | | 3,192 | | | | 377,939 | | | | 11,486 | |
SHARES OF BENEFICIAL INTEREST OUTSTANDING
(unlimited number of shares authorized, no par value): | | | | | | | | | | | | | | | | |
| Investor Class | | | 696,814 | | | | 85,694 | | | | 92,837 | | | | 356,522 | |
| Service Class | | | 47,772 | | | | 237 | | | | 5,595 | | | | 896 | |
NET ASSET VALUE
(offering and redemption price per share): | | | | | | | | | | | | | | | | |
| Investor Class | | $ | 87.01 | | | $ | 14.70 | | | $ | 77.45 | | | $ | 13.35 | |
| Service Class | | | 63.66 | | | | 13.47 | | | | 67.55 | | | | 12.82 | |
| (a) Includes securities on loan valued at: | | $ | 94,611 | | | $ | — | | | $ | — | | | $ | — | |
Amounts designated as " – " are $0 or have been rounded to $0.
* As described in Note 11, effective March 17, 2023, this ProFund's name changed due to a change to its underlying benchmark index.
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Statements of Assets and Liabilities :: 187
Short
Real Estate
ProFund | | | Short
Small-Cap
ProFund | | | Small-Cap
Growth
ProFund | | | Small-Cap
ProFund | | | Small-Cap
Value
ProFund | | | Technology
UltraSector
ProFund | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 1,680,000 | | | $ | 2,097,000 | | | $ | 2,898,215 | | | $ | 2,297,370 | | | $ | 6,023,105 | | | $ | 13,798,543 | |
| | — | | | | — | | | | 4,322,310 | | | | 1,895,709 | | | | 7,587,036 | | | | 28,473,669 | |
| | 1,680,000 | | | | 2,097,000 | | | | — | | | | 1,276,000 | | | | 88,000 | | | | 7,925,000 | |
| | 1,680,000 | | | | 2,097,000 | | | | 4,322,310 | | | | 3,171,709 | | | | 7,675,036 | | | | 36,398,669 | |
| | 884 | | | | 465 | | | | — | | | | 83 | | | | 457 | | | | 409 | |
| | — | | | | 15,360 | | | | — | | | | — | | | | — | | | | — | |
| | 51 | | | | 977 | | | | — | | | | 159 | | | | — | | | | 729 | |
| | 196 | | | | 245 | | | | 1,621 | | | | 658 | | | | 3,153 | | | | 4,598 | |
| | — | | | | — | | | | 38,899 | | | | 4,975 | | | | 190,629 | | | | — | |
| | 8,598 | | | | 1,527 | | | | 31,251 | | | | 3 | | | | 20,967 | | | | 60,530 | |
| | 703 | | | | 626 | | | | — | | | | 194 | | | | — | | | | — | |
| | — | | | | — | | | | — | | | | 14,793 | | | | — | | | | 294,888 | |
| | 10,893 | | | | 6,250 | | | | 10,083 | | | | 11,933 | | | | 9,276 | | | | 12,851 | |
| | 1,701,325 | | | | 2,122,450 | | | | 4,404,164 | | | | 3,204,507 | | | | 7,899,518 | | | | 36,772,674 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | — | | | | — | | | | 1,898 | | | | — | | | | — | | | | — | |
| | — | | | | — | | | | 66,965 | | | | 289 | | | | 2,907 | | | | — | |
| | — | | | | — | | | | 780 | | | | 16,510 | | | | 69,204 | | | | 54,030 | |
| | 157,854 | | | | 97,818 | | | | 3 | | | | 115,020 | | | | 344,164 | | | | 262,360 | |
| | 47,358 | | | | 21,592 | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | 4,590 | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | — | | | | 1,353 | | | | — | | | | 4,091 | | | | 21,446 | |
| | — | | | | — | | | | 271 | | | | — | | | | 818 | | | | 4,289 | |
| | 70 | | | | 120 | | | | 197 | | | | 155 | | | | 309 | | | | 1,346 | |
| | 74 | | | | 39 | | | | 376 | | | | 261 | | | | 679 | | | | 2,209 | |
| | 228 | | | | 673 | | | | 579 | | | | 792 | | | | 988 | | | | 4,129 | |
| | 91 | | | | 131 | | | | 414 | | | | 1,321 | | | | 606 | | | | 1,847 | |
| | 10 | | | | 38 | | | | 24 | | | | 23 | | | | 41 | | | | 215 | |
| | 14 | | | | 20 | | | | 32 | | | | 25 | | | | 51 | | | | 266 | |
| | 51 | | | | 498 | | | | 3,856 | | | | 1,852 | | | | 10,156 | | | | 52,457 | |
| | 205,750 | | | | 125,519 | | | | 76,748 | | | | 136,248 | | | | 434,014 | | | | 404,594 | |
| $ | 1,495,575 | | | $ | 1,996,931 | | | $ | 4,327,416 | | | $ | 3,068,259 | | | $ | 7,465,504 | | | $ | 36,368,080 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 6,375,199 | | | $ | 17,433,952 | | | $ | 3,408,246 | | | $ | 2,505,380 | | | $ | 6,974,030 | | | $ | 22,433,746 | |
| | (4,879,624 | ) | | | (15,437,021 | ) | | | 919,170 | | | | 562,879 | | | | 491,474 | | | | 13,934,334 | |
| $ | 1,495,575 | | | $ | 1,996,931 | | | $ | 4,327,416 | | | $ | 3,068,259 | | | $ | 7,465,504 | | | $ | 36,368,080 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 1,478,569 | | | $ | 1,953,458 | | | $ | 3,859,311 | | | $ | 2,746,681 | | | $ | 6,585,212 | | | $ | 33,581,040 | |
| | 17,006 | | | | 43,473 | | | | 468,105 | | | | 321,578 | | | | 880,292 | | | | 2,787,040 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 173,687 | | | | 55,212 | | | | 39,777 | | | | 27,459 | | | | 62,911 | | | | 433,449 | |
| | 2,313 | | | | 1,314 | | | | 6,336 | | | | 3,984 | | | | 10,606 | | | | 45,456 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 8.51 | | | $ | 35.38 | | | $ | 97.02 | | | $ | 100.03 | | | $ | 104.68 | | | $ | 77.47 | |
| | 7.35 | | | | 33.08 | | | | 73.88 | | | | 80.72 | | | | 83.00 | | | | 61.31 | |
| $ | — | | | $ | — | | | $ | 733 | | | $ | 16,172 | | | $ | 67,981 | | | $ | 55,265 | |
See accompanying notes to the financial statements.
188 :: Statements of Assets and Liabilities :: January 31, 2023 (unaudited)
| | | Telecommunications
UltraSector
ProFund+ | | | UltraBear
ProFund | | | UltraBull
ProFund | | | UltraChina
ProFund | |
| ASSETS: | | | | | | | | | | | | | | | | |
| Total Investment Securities, at cost | | $ | — | | | $ | 10,540,000 | | | $ | 69,608,885 | | | $ | 31,715,038 | |
| Securities, at value(a) | | | — | | | | — | | | | 78,210,336 | | | | 31,764,074 | |
| Repurchase agreements, at value | | | — | | | | 10,540,000 | | | | 37,851,000 | | | | 7,441,000 | |
| Total Investment Securities, at value | | | — | | | | 10,540,000 | | | | 116,061,336 | | | | 39,205,074 | |
| Cash | | | 529,266 | | | | 937 | | | | — | | | | 375 | |
| Segregated cash balances for futures contracts with brokers | | | — | | | | 41,674 | | | | 190,523 | | | | — | |
| Segregated cash balances for swap agreements with custodian | | | 2,095 | | | | — | | | | — | | | | — | |
| Dividends and interest receivable | | | 2,694 | | | | 1,233 | | | | 64,982 | | | | 1,410 | |
| Receivable for investments sold | | | — | | | | — | | | | — | | | | — | |
| Receivable for capital shares issued | | | — | | | | 830,628 | | | | 578,930 | | | | 1,599,617 | |
| Due from Advisor under an expense limitation agreement | | | 9,928 | | | | — | | | | — | | | | — | |
| Unrealized appreciation on swap agreements | | | — | | | | — | | | | 156,886 | | | | — | |
| Variation margin on futures contracts | | | — | | | | — | | | | 60,375 | | | | — | |
| Prepaid expenses | | | — | | | | 17,960 | | | | 30,904 | | | | 27,093 | |
| TOTAL ASSETS | | | 543,983 | | | | 11,432,432 | | | | 117,143,936 | | | | 40,833,569 | |
| LIABILITIES: | | | | | | | | | | | | | | | | |
| Cash overdraft | | | — | | | | — | | | | 334 | | | | — | |
| Payable for investments purchased | | | — | | | | — | | | | — | | | | 650,176 | |
| Payable for collateral for securities loaned | | | — | | | | — | | | | 14,732 | | | | 1,298,810 | |
| Payable for capital shares redeemed | | | 726 | | | | 407,304 | | | | 2,575,338 | | | | 262,882 | |
| Unrealized depreciation on swap agreements | | | — | | | | 21,005 | | | | — | | | | 2,083,489 | |
| Variation margin on futures contracts | | | — | | | | 8,625 | | | | — | | | | — | |
| Advisory fees payable | | | — | | | | 8,704 | | | | 65,687 | | | | 17,907 | |
| Management services fees payable | | | — | | | | 1,741 | | | | 13,137 | | | | 3,581 | |
| Administration fees payable | | | 25 | | | | 681 | | | | 4,960 | | | | 1,371 | |
| Distribution and services fees payable—Service Class | | | 24 | | | | 96 | | | | 1,727 | | | | 1,122 | |
| Transfer agency fees payable | | | 97 | | | | 1,689 | | | | 12,226 | | | | 2,938 | |
| Fund accounting fees payable | | | 56 | | | | 738 | | | | 5,662 | | | | 1,503 | |
| Compliance services fees payable | | | 4 | | | | 74 | | | | 500 | | | | 94 | |
| Service fees payable | | | 5 | | | | 112 | | | | 814 | | | | 225 | |
| Other accrued expenses | | | 7,015 | | | | 11,874 | | | | 108,221 | | | | 30,835 | |
| TOTAL LIABILITIES | | | 7,952 | | | | 462,643 | | | | 2,803,338 | | | | 4,354,933 | |
| NET ASSETS | | $ | 536,031 | | | $ | 10,969,789 | | | $ | 114,340,598 | | | $ | 36,478,636 | |
| NET ASSETS CONSIST OF: | | | | | | | | | | | | | | | | |
| Capital | | $ | 6,234,481 | | | $ | 109,725,989 | | | $ | 107,408,897 | | | $ | 70,043,988 | |
| Total distributable earnings (loss) | | | (5,698,450 | ) | | | (98,756,200 | ) | | | 6,931,701 | | | | (33,565,352 | ) |
| NET ASSETS | | $ | 536,031 | | | $ | 10,969,789 | | | $ | 114,340,598 | | | $ | 36,478,636 | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Investor Class | | $ | 511,590 | | | $ | 10,924,449 | | | $ | 112,368,744 | | | $ | 31,376,360 | |
| Service Class | | | 24,441 | | | | 45,340 | | | | 1,971,854 | | | | 5,102,276 | |
SHARES OF BENEFICIAL INTEREST OUTSTANDING
(unlimited number of shares authorized, no par value): | | | | | | | | | | | | | | | | |
| Investor Class | | | 26,627 | | | | 541,478 | | | | 1,469,343 | | | | 775,029 | |
| Service Class | | | 1,331 | | | | 2,538 | | | | 34,417 | | | | 145,615 | |
NET ASSET VALUE
(offering and redemption price per share): | | | | | | | | | | | | | | | | |
| Investor Class | | $ | 19.21 | | | $ | 20.18 | | | $ | 76.48 | | | $ | 40.48 | |
| Service Class | | | 18.36 | | | | 17.86 | | | | 57.29 | | | | 35.04 | |
| (a) Includes securities on loan valued at: | | $ | — | | | $ | — | | | $ | 14,693 | | | $ | 1,247,460 | |
Amounts designated as " – " are $0 or have been rounded to $0.
| + | As described in Note 11, the Telecommunications UltraSector ProFund liquidated on February 7, 2023. |
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Statements of Assets and Liabilities :: 189
UltraDow 30
ProFund | | | UltraEmerging
Markets
ProFund | | | UltraInternational
ProFund | | | UltraJapan
ProFund | | | UltraLatin
America
ProFund | | | UltraMid-Cap
ProFund | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 15,990,062 | | | $ | 8,284,355 | | | $ | 6,967,000 | | | $ | 11,101,000 | | | $ | 8,314,446 | | | $ | 35,749,094 | |
| | 23,299,473 | | | | 9,748,800 | | | | — | | | | — | | | | 11,100,482 | | | | 33,794,750 | |
| | 6,336,000 | | | | 1,734,000 | | | | 6,967,000 | | | | 11,101,000 | | | | 1,463,000 | | | | 13,567,000 | |
| | 29,635,473 | | | | 11,482,800 | | | | 6,967,000 | | | | 11,101,000 | | | | 12,563,482 | | | | 47,361,750 | |
| | 67,653 | | | | 694 | | | | 73 | | | | 89 | | | | 104 | | | | — | |
| | 215,295 | | | | — | | | | — | | | | 1,392,300 | | | | — | | | | 228,380 | |
| | 657 | | | | — | | | | — | | | | — | | | | 79 | | | | 93 | |
| | 15,997 | | | | 20,491 | | | | 815 | | | | 1,298 | | | | 42,340 | | | | 11,134 | |
| | — | | | | 651,650 | | | | — | | | | — | | | | — | | | | — | |
| | 11,208 | | | | 104,096 | | | | 137,497 | | | | 168 | | | | 126,102 | | | | 189,989 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 79,971 | | | | — | | | | — | | | | 225 | | | | 148,386 | | | | 657,984 | |
| | 57,505 | | | | — | | | | — | | | | 72,800 | | | | — | | | | 117,610 | |
| | 8,081 | | | | 24,381 | | | | 23,512 | | | | 20,959 | | | | 13,601 | | | | 24,494 | |
| | 30,091,840 | | | | 12,284,112 | | | | 7,128,897 | | | | 12,588,839 | | | | 12,894,094 | | | | 48,591,434 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | 1,403 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | 456,350 | | | | — | | | | — | | | | 984,950 | | | | 327,118 | |
| | 122,643 | | | | 543,134 | | | | 289,728 | | | | 13,678 | | | | 408,877 | | | | 129,651 | |
| | — | | | | 269,409 | | | | 17,184 | | | | — | | | | — | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 19,752 | | | | 7,371 | | | | 2,857 | | | | 8,238 | | | | 6,787 | | | | 27,790 | |
| | 3,950 | | | | 1,474 | | | | 571 | | | | 1,373 | | | | 1,358 | | | | 5,558 | |
| | 1,488 | | | | 638 | | | | 254 | | | | 562 | | | | 514 | | | | 2,102 | |
| | 759 | | | | 99 | | | | 140 | | | | 88 | | | | 171 | | | | 706 | |
| | 4,204 | | | | 1,364 | | | | 715 | | | | 2,200 | | | | 2,314 | | | | 4,407 | |
| | 1,628 | | | | 719 | | | | 331 | | | | 610 | | | | 576 | | | | 2,511 | |
| | 161 | | | | 41 | | | | 14 | | | | 65 | | | | 49 | | | | 213 | |
| | 244 | | | | 105 | | | | 50 | | | | 92 | | | | 84 | | | | 345 | |
| | 35,734 | | | | 11,863 | | | | 6,016 | | | | 10,526 | | | | 8,019 | | | | 46,550 | |
| | 190,563 | | | | 1,292,567 | | | | 317,860 | | | | 37,432 | | | | 1,413,699 | | | | 548,354 | |
| $ | 29,901,277 | | | $ | 10,991,545 | | | $ | 6,811,037 | | | $ | 12,551,407 | | | $ | 11,480,395 | | | $ | 48,043,080 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 21,001,089 | | | $ | 15,521,153 | | | $ | 6,662,337 | | | $ | 14,096,923 | | | $ | 40,264,859 | | | $ | 42,277,521 | |
| | 8,900,188 | | | | (4,529,608 | ) | | | 148,700 | | | | (1,545,516 | ) | | | (28,784,464 | ) | | | 5,765,559 | |
| $ | 29,901,277 | | | $ | 10,991,545 | | | $ | 6,811,037 | | | $ | 12,551,407 | | | $ | 11,480,395 | | | $ | 48,043,080 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 28,988,689 | | | $ | 10,868,909 | | | $ | 6,737,743 | | | $ | 12,443,917 | | | $ | 11,349,002 | | | $ | 47,137,349 | |
| | 912,588 | | | | 122,636 | | | | 73,294 | | | | 107,490 | | | | 131,393 | | | | 905,731 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 505,629 | | | | 226,574 | | | | 406,274 | | | | 455,294 | | | | 683,380 | | | | 840,370 | |
| | 19,031 | | | | 2,838 | | | | 5,113 | | | | 4,904 | | | | 8,106 | | | | 20,684 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 57.33 | | | $ | 47.97 | | | $ | 16.58 | | | $ | 27.33 | | | $ | 16.61 | | | $ | 56.09 | |
| | 47.95 | | | | 43.21 | | | | 14.33 | | | | 21.92 | | | | 16.21 | | | | 43.79 | |
| $ | — | | | $ | 411,732 | | | $ | — | | | $ | — | | | $ | 945,382 | | | $ | 327,380 | |
See accompanying notes to the financial statements.
190 :: Statements of Assets and Liabilities :: January 31, 2023 (unaudited)
| | | UltraNasdaq-100
ProFund | | | UltraShort
China
ProFund | | | UltraShort
Dow 30
ProFund | | | UltraShort
Emerging
Markets
ProFund | |
| ASSETS: | | | | | | | | | | | | | | | | |
| Total Investment Securities, at cost | | $ | 268,529,184 | | | $ | 2,188,000 | | | $ | 2,784,000 | | | $ | 616,000 | |
| Securities, at value(a) | | | 330,544,342 | | | | — | | | | — | | | | — | |
| Repurchase agreements, at value | | | 187,080,000 | | | | 2,188,000 | | | | 2,784,000 | | | | 616,000 | |
| Total Investment Securities, at value | | | 517,624,342 | | | | 2,188,000 | | | | 2,784,000 | | | | 616,000 | |
| Cash | | | 329 | | | | 277 | | | | 661 | | | | 964 | |
| Segregated cash balances for futures contracts with brokers | | | 2,822,680 | | | | — | | | | — | | | | — | |
| Segregated cash balances for swap agreements with custodian | | | 1,228 | | | | 119 | | | | 60 | | | | — | |
| Dividends and interest receivable | | | 63,230 | | | | 256 | | | | 326 | | | | 72 | |
| Receivable for capital shares issued | | | 3,441,845 | | | | 278,111 | | | | 92,528 | | | | 8,282 | |
| Due from Advisor under an expense limitation agreement | | | — | | | | 677 | | | | — | | | | 5,772 | |
| Unrealized appreciation on swap agreements | | | 215,659 | | | | 196,693 | | | | — | | | | 24,076 | |
| Variation margin on futures contracts | | | 1,034,080 | | | | — | | | | — | | | | — | |
| Prepaid expenses | | | 47,233 | | | | 23,302 | | | | 10,097 | | | | 22,718 | |
| TOTAL ASSETS | | | 525,250,626 | | | | 2,687,435 | | | | 2,887,672 | | | | 677,884 | |
| LIABILITIES: | | | | | | | | | | | | | | | | |
| Cash overdraft | | | — | | | | — | | | | — | | | | — | |
| Payable for collateral for securities loaned | | | 2,503,593 | | | | — | | | | — | | | | — | |
| Payable for capital shares redeemed | | | 16,916,034 | | | | 305,427 | | | | 1,813 | | | | 23,844 | |
| Unrealized depreciation on swap agreements | | | 2,415,207 | | | | — | | | | 16,539 | | | | — | |
| Variation margin on futures contracts | | | — | | | | — | | | | — | | | | — | |
| Advisory fees payable | | | 280,576 | | | | — | | | | 89 | | | | — | |
| Management services fees payable | | | 56,116 | | | | — | | | | 18 | | | | — | |
| Administration fees payable | | | 21,242 | | | | 97 | | | | 138 | | | | 24 | |
| Distribution and services fees payable—Service Class | | | 8,226 | | | | 5 | | | | 29 | | | | 65 | |
| Transfer agency fees payable | | | 59,365 | | | | 366 | | | | 362 | | | | 117 | |
| Fund accounting fees payable | | | 23,029 | | | | 126 | | | | 149 | | | | 32 | |
| Compliance services fees payable | | | 2,805 | | | | 10 | | | | 18 | | | | 7 | |
| Service fees payable | | | 3,486 | | | | 19 | | | | 23 | | | | 5 | |
| Other accrued expenses | | | 730,314 | | | | 2,203 | | | | 1,658 | | | | 2,829 | |
| TOTAL LIABILITIES | | | 23,019,993 | | | | 308,253 | | | | 20,836 | | | | 26,923 | |
| NET ASSETS | | $ | 502,230,633 | | | $ | 2,379,182 | | | $ | 2,866,836 | | | $ | 650,961 | |
| NET ASSETS CONSIST OF: | | | | | | | | | | | | | | | | |
| Capital | | $ | 664,630,159 | | | $ | 12,880,272 | | | $ | 27,226,735 | | | $ | 13,546,360 | |
| Total distributable earnings (loss) | | | (162,399,526 | ) | | | (10,501,090 | ) | | | (24,359,899 | ) | | | (12,895,399 | ) |
| NET ASSETS | | $ | 502,230,633 | | | $ | 2,379,182 | | | $ | 2,866,836 | | | $ | 650,961 | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Investor Class | | $ | 491,681,210 | | | $ | 2,375,917 | | | $ | 2,843,355 | | | $ | 542,732 | |
| Service Class | | | 10,549,423 | | | | 3,265 | | | | 23,481 | | | | 108,229 | |
SHARES OF BENEFICIAL INTEREST OUTSTANDING
(unlimited number of shares authorized, no par value): | | | | | | | | | | | | | | | | |
| Investor Class | | | 10,794,022 | | | | 387,308 | | | | 156,190 | | | | 25,603 | |
| Service Class | | | 331,612 | | | | 611 | | | | 1,496 | | | | 5,746 | |
NET ASSET VALUE
(offering and redemption price per share): | | | | | | | | | | | | | | | | |
| Investor Class | | $ | 45.55 | | | $ | 6.13 | | | $ | 18.20 | | | $ | 21.20 | |
| Service Class | | | 31.81 | | | | 5.34 | | | | 15.70 | | | | 18.84 | |
| (a) Includes securities on loan valued at: | | $ | 2,497,534 | | | $ | — | | | $ | — | | | $ | — | |
Amounts designated as " – " are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
January 31, 2023 (unaudited) :: Statements of Assets and Liabilities :: 191
UltraShort
International
ProFund | | | UltraShort
Japan
ProFund | | | UltraShort
Latin America
ProFund | | | UltraShort
Mid-Cap
ProFund | | | UltraShort
Nasdaq-100
ProFund | | | UltraShort
Small-Cap
ProFund | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 2,348,000 | | | $ | 259,000 | | | $ | 767,000 | | | $ | 1,300,000 | | | $ | 20,426,000 | | | $ | 4,820,000 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 2,348,000 | | | | 259,000 | | | | 767,000 | | | | 1,300,000 | | | | 20,426,000 | | | | 4,820,000 | |
| | 2,348,000 | | | | 259,000 | | | | 767,000 | | | | 1,300,000 | | | | 20,426,000 | | | | 4,820,000 | |
| | 105 | | | | 611 | | | | 360 | | | | 397 | | | | 469 | | | | — | |
| | — | | | | 23,250 | | | | — | | | | 17,680 | | | | 224,650 | | | | — | |
| | — | | | | — | | | | 33 | | | | — | | | | 305 | | | | 599 | |
| | 275 | | | | 30 | | | | 90 | | | | 152 | | | | 2,389 | | | | 564 | |
| | 3,581 | | | | 12,644 | | | | 38,100 | | | | 6,272 | | | | 173,033 | | | | 3,837,712 | |
| | 3,265 | | | | 1,749 | | | | 4,992 | | | | 1,107 | | | | — | | | | — | |
| | 1,129 | | | | — | | | | — | | | | 3,237 | | | | 221,756 | | | | 42,445 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 23,229 | | | | 15,114 | | | | 15,537 | | | | 18,448 | | | | 16,471 | | | | 23,863 | |
| | 2,379,584 | | | | 312,398 | | | | 826,112 | | | | 1,347,293 | | | | 21,065,073 | | | | 8,725,183 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | 567 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 360,223 | | | | 3,081 | | | | 8,620 | | | | 105,549 | | | | 762,985 | | | | 36,142 | |
| | 2,094 | | | | 468 | | | | 17,553 | | | | 16,480 | | | | — | | | | 43,607 | |
| | — | | | | 1,200 | | | | — | | | | 6,190 | | | | 36,800 | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | 26,908 | | | | 2,935 | |
| | — | | | | — | | | | — | | | | — | | | | 5,381 | | | | 587 | |
| | 94 | | | | 18 | | | | 36 | | | | 92 | | | | 2,007 | | | | 369 | |
| | 4 | | | | 1 | | | | 5 | | | | 41 | | | | 113 | | | | 134 | |
| | 268 | | | | 58 | | | | 105 | | | | 278 | | | | 3,633 | | | | 1,150 | |
| | 122 | | | | 22 | | | | 47 | | | | 102 | | | | 2,172 | | | | 399 | |
| | 19 | | | | 2 | | | | 7 | | | | 10 | | | | 134 | | | | 34 | |
| | 19 | | | | 3 | | | | 7 | | | | 15 | | | | 329 | | | | 61 | |
| | 2,444 | | | | 190 | | | | 1,472 | | | | 399 | | | | 46,192 | | | | 6,990 | |
| | 365,287 | | | | 5,043 | | | | 27,852 | | | | 129,156 | | | | 886,654 | | | | 92,975 | |
| $ | 2,014,297 | | | $ | 307,355 | | | $ | 798,260 | | | $ | 1,218,137 | | | $ | 20,178,419 | | | $ | 8,632,208 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 20,344,577 | | | $ | 10,949,113 | | | $ | 17,954,794 | | | $ | 12,330,205 | | | $ | 98,508,599 | | | $ | 63,242,334 | |
| | (18,330,280 | ) | | | (10,641,758 | ) | | | (17,156,534 | ) | | | (11,112,068 | ) | | | (78,330,180 | ) | | | (54,610,126 | ) |
| $ | 2,014,297 | | | $ | 307,355 | | | $ | 798,260 | | | $ | 1,218,137 | | | $ | 20,178,419 | | | $ | 8,632,208 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 2,009,435 | | | $ | 306,351 | | | $ | 793,212 | | | $ | 1,173,962 | | | $ | 20,058,810 | | | $ | 8,497,391 | |
| | 4,862 | | | | 1,004 | | | | 5,048 | | | | 44,175 | | | | 119,609 | | | | 134,817 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 93,661 | | | | 29,885 | | | | 129,169 | | | | 27,300 | | | | 244,275 | | | | 1,200,356 | |
| | 257 | | | | 112 | | | | 951 | | | | 1,183 | | | | 1,564 | | | | 20,975 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 21.45 | | | $ | 10.25 | | | $ | 6.14 | | | $ | 43.00 | | | $ | 82.12 | | | $ | 7.08 | |
| | 18.92 | | | | 8.96 | | | | 5.31 | | | | 37.34 | | | | 76.48 | | | | 6.43 | |
| $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
See accompanying notes to the financial statements.
192 :: Statements of Assets and Liabilities :: January 31, 2023 (unaudited)
| | | UltraSmall-Cap
ProFund | | | U.S. Government
Plus
ProFund | | | Utilities
UltraSector
ProFund | |
| ASSETS: | | | | | | | | | | | | |
| Total Investment Securities, at cost | | $ | 53,620,421 | | | $ | 11,736,000 | | | $ | 3,925,334 | |
| Securities, at value(a) | | | 39,344,778 | | | | — | | | | 6,582,663 | |
| Repurchase agreements, at value | | | 27,029,000 | | | | 11,736,000 | | | | 1,425,000 | |
| Total Investment Securities, at value | | | 66,373,778 | | | | 11,736,000 | | | | 8,007,663 | |
| Cash | | | — | | | | 926 | | | | 447 | |
| Segregated cash balances for futures contracts with brokers | | | 340,360 | | | | — | | | | — | |
| Segregated cash balances for swap agreements with custodian | | | 1,675 | | | | 4 | | | | 254 | |
| Dividends and interest receivable | | | 12,169 | | | | 1,373 | | | | 2,631 | |
| Receivable for investments sold | | | 104,331 | | | | — | | | | — | |
| Receivable for capital shares issued | | | 759,505 | | | | 203,583 | | | | 57,058 | |
| Unrealized appreciation on swap agreements | | | 1,117,851 | | | | 87,954 | | | | — | |
| Variation margin on futures contracts | | | 153,765 | | | | — | | | | — | |
| Prepaid expenses | | | 21,297 | | | | 7,189 | | | | 8,671 | |
| TOTAL ASSETS | | | 68,884,731 | | | | 12,037,029 | | | | 8,076,724 | |
| LIABILITIES: | | | | | | | | | | | | |
| Cash overdraft | | | 388 | | | | — | | | | — | |
| Payable for investments purchased | | | 5,877 | | | | — | | | | — | |
| Payable for capital shares redeemed | | | 8,874,944 | | | | 7,149,011 | | | | 80,690 | |
| Unrealized depreciation on swap agreements | | | — | | | | — | | | | 13,097 | |
| Advisory fees payable | | | 35,208 | | | | 1,887 | | | | 5,412 | |
| Management services fees payable | | | 7,041 | | | | 566 | | | | 1,082 | |
| Administration fees payable | | | 2,665 | | | | 310 | | | | 338 | |
| Distribution and services fees payable—Service Class | | | 141 | | | | 394 | | | | 344 | |
| Transfer agency fees payable | | | 5,953 | | | | 890 | | | | 1,189 | |
| Fund accounting fees payable | | | 4,036 | | | | 335 | | | | 468 | |
| Compliance services fees payable | | | 300 | | | | 41 | | | | 62 | |
| Service fees payable | | | 437 | | | | 51 | | | | 67 | |
| Other accrued expenses | | | 98,942 | | | | 7,746 | | | | 7,267 | |
| TOTAL LIABILITIES | | | 9,035,932 | | | | 7,161,231 | | | | 110,016 | |
| NET ASSETS | | $ | 59,848,799 | | | $ | 4,875,798 | | | $ | 7,966,708 | |
| NET ASSETS CONSIST OF: | | | | | | | | | | | | |
| Capital | | $ | 82,162,446 | | | $ | 11,591,796 | | | $ | 12,226,031 | |
| Total distributable earnings (loss) | | | (22,313,647 | ) | | | (6,715,998 | ) | | | (4,259,323 | ) |
| NET ASSETS | | $ | 59,848,799 | | | $ | 4,875,798 | | | $ | 7,966,708 | |
| NET ASSETS: | | | | | | | | | | | | |
| Investor Class | | $ | 59,309,313 | | | $ | 4,739,069 | | | $ | 7,575,146 | |
| Service Class | | | 539,486 | | | | 136,729 | | | | 391,562 | |
SHARES OF BENEFICIAL INTEREST OUTSTANDING
(unlimited number of shares authorized, no par value): | | | | | | | | | | | | |
| Investor Class | | | 985,451 | | | | 108,415 | | | | 120,718 | |
| Service Class | | | 11,233 | | | | 3,506 | | | | 6,744 | |
NET ASSET VALUE
(offering and redemption price per share): | | | | | | | | | | | | |
| Investor Class | | $ | 60.18 | | | $ | 43.71 | | | $ | 62.75 | |
| Service Class | | | 48.03 | | | | 39.00 | | | | 58.06 | |
Amounts designated as " – " are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
Consolidated Statements of Assets and Liabilities
194 :: Consolidated Statements of Assets and Liabilities :: January 31, 2023 (unaudited)
| | | Bitcoin Strategy
ProFund | | | Short Bitcoin
Strategy
ProFund | |
| ASSETS: | | | | | | | | |
| Total Investment Securities, at cost | | $ | 13,975,837 | | | $ | 199,658 | |
| Securities, at value(a) | | | 13,974,951 | | | | 199,642 | |
| Total Investment Securities, at value | | | 13,974,951 | | | | 199,642 | |
| Cash | | | 21,273,598 | | | | 231,395 | |
| Segregated cash balances for futures contracts with brokers | | | 7,792,400 | | | | 86,240 | |
| Receivable for capital shares issued | | | 703,715 | | | | 6,178 | |
| Due from Advisor under an expense limitation agreement | | | — | | | | 2,599 | |
| Other receivables from Advisor | | | 2,294 | | | | — | |
| Receivable from Administrator | | | 1,211 | | | | 1,140 | |
| Variation margin on futures contracts | | | 542,329 | | | | — | |
| Prepaid expenses | | | 10,590 | | | | 8,010 | |
| TOTAL ASSETS | | | 44,301,088 | | | | 535,204 | |
| LIABILITIES: | | | | | | | | |
| Reverse repurchase agreements, including accrued interest | | | 13,976,364 | | | | 199,662 | |
| Distributions payable | | | 3,245 | | | | — | |
| Futures commission merchant (FCM) fees payable | | | 4,020 | | | | 95 | |
| Payable for capital shares redeemed | | | 44,406 | | | | 2,196 | |
| Variation margin on futures contracts | | | — | | | | 5,964 | |
| Advisory fees payable | | | 5,826 | | | | — | |
| Management services fees payable | | | 1,942 | | | | — | |
| Administration fees payable | | | 2,293 | | | | 51 | |
| Transfer agency fees payable | | | 1,955 | | | | 192 | |
| Fund accounting fees payable | | | 2,544 | | | | 1,279 | |
| Compliance services fees payable | | | 107 | | | | 4 | |
| Service fees payable | | | 195 | | | | 4 | |
| Other accrued expenses | | | 27,516 | | | | 7,250 | |
| TOTAL LIABILITIES | | | 14,070,413 | | | | 216,697 | |
| NET ASSETS | | $ | 30,230,675 | | | $ | 318,507 | |
| NET ASSETS CONSIST OF: | | | | | | | | |
| Capital | | $ | 26,973,771 | | | $ | 468,872 | |
| Total distributable earnings (loss) | | | 3,256,904 | | | | (150,365 | ) |
| NET ASSETS | | $ | 30,230,675 | | | $ | 318,507 | |
| NET ASSETS: | | | | | | | | |
| Investor Class | | $ | 30,230,675 | | | $ | 318,507 | |
SHARES OF BENEFICIAL INTEREST OUTSTANDING
(unlimited number of shares authorized, no par value): | | | | | | | | |
| Investor Class | | | 2,229,052 | | | | 18,470 | |
NET ASSET VALUE
(offering and redemption price per share): | | | | | | | | |
| Investor Class | | $ | 13.56 | | | $ | 17.24 | |
Amounts designated as " – " are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
Statements of Operations
196 :: Statements of Operations :: For the Periods Indicated (unaudited)
| | | Access Flex
Bear
High Yield
ProFund | | | Access Flex
High Yield
ProFund | | | Banks
UltraSector
ProFund | | | Bear
ProFund | |
| | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | |
| INVESTMENT INCOME: | | | | | | | | | | | | | | | | |
| Dividends | | $ | — | | | $ | — | | | $ | 91,426 | | | $ | — | |
| Interest | | | 31,072 | | | | 354,161 | | | | 31,070 | | | | 390,143 | |
| Foreign tax withholding | | | — | | | | — | | | | — | | | | — | |
| Net income from securities lending | | | — | | | | — | | | | 2 | | | | — | |
| TOTAL INVESTMENT INCOME | | | 31,072 | | | | 354,161 | | | | 122,498 | | | | 390,143 | |
| EXPENSES: | | | | | | | | | | | | | | | | |
| Advisory fees | | | 9,165 | | | | 77,721 | | | | 30,325 | | | | 92,288 | |
| Management services fees | | | 1,833 | | | | 15,544 | | | | 6,065 | | | | 18,458 | |
| Administration fees | | | 816 | | | | 8,948 | | | | 5,513 | | | | 12,005 | |
| Distribution and services fees—Service Class | | | 730 | | | | 11,789 | | | | 2,234 | | | | 5,692 | |
| Transfer agency fees | | | 763 | | | | 9,175 | | | | 3,774 | | | | 6,669 | |
| Administrative services fees | | | 2,345 | | | | 28,025 | | | | 9,589 | | | | 22,414 | |
| Registration and filing fees | | | 11,694 | | | | 24,187 | | | | 21,124 | | | | 45,730 | |
| Custody fees | | | 89 | | | | 380 | | | | 795 | | | | 4,030 | |
| Fund accounting fees | | | 673 | | | | 7,945 | | | | 3,164 | | | | 6,471 | |
| Trustee fees | | | 34 | | | | 448 | | | | 162 | | | | 550 | |
| Compliance services fees | | | 12 | | | | 143 | | | | 67 | | | | 168 | |
| Service fees | | | 92 | | | | 1,120 | | | | 459 | | | | 864 | |
| Other fees | | | 2,091 | | | | 14,753 | | | | 8,219 | | | | 16,916 | |
| Total Gross Expenses before reductions | | | 30,337 | | | | 200,178 | | | | 91,490 | | | | 232,255 | |
| Expenses reduced and reimbursed by the Advisor | | | (7,855 | ) | | | (3,930 | ) | | | — | | | | (1,654 | ) |
| TOTAL NET EXPENSES | | | 22,482 | | | | 196,248 | | | | 91,490 | | | | 230,601 | |
| NET INVESTMENT INCOME (LOSS) | | | 8,590 | | | | 157,913 | | | | 31,008 | | | | 159,542 | |
| REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS: | | | | | | | | | | | | | | | | |
| Net realized gains (losses) on investment securities | | | — | | | | 120,686 | | | | 206,376 | | | | — | |
| Net realized gains (losses) on futures contracts | | | 93,118 | | | | 7,334 | | | | — | | | | (25,164 | ) |
| Net realized gains (losses) on swap agreements | | | (11,366 | ) | | | 19,938 | | | | 180,076 | | | | 492,437 | |
| Change in net unrealized appreciation/depreciation on investment securities | | | — | | | | 36,705 | | | | 47,584 | | | | — | |
| Change in net unrealized appreciation/depreciation on futures contracts | | | (4,265 | ) | | | 21,394 | | | | — | | | | 66,226 | |
| Change in net unrealized appreciation/depreciation on swap agreements | | | (154,693 | ) | | | 1,109,267 | | | | 112,784 | | | | 271,108 | |
| NET REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS | | | (77,206 | ) | | | 1,315,324 | | | | 546,820 | | | | 804,607 | |
| CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | | $ | (68,616 | ) | | $ | 1,473,237 | | | $ | 577,828 | | | $ | 964,149 | |
Amounts designated as " – " are $0 or have been rounded to $0.
| * | As described in Note 11, effective March 17, 2023, this ProFund's name changed due to a change to its underlying benchmark index. |
See accompanying notes to the financial statements.
For the Periods Indicated (unaudited) :: Statements of Operations :: 197
Biotechnology
UltraSector
ProFund | | | Bull
ProFund | | | Communication
Services
UltraSector
ProFund | | | Consumer
Discretionary
UltraSector
ProFund* | | | Consumer
Staples
UltraSector
ProFund* | | | Energy
UltraSector
ProFund* | |
Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 684,202 | | | $ | 230,850 | | | $ | 16,108 | | | $ | 120,384 | | | $ | 29,565 | | | $ | 803,417 | |
| | 391,487 | | | | 188,641 | | | | 14,581 | | | | 88,333 | | | | 15,545 | | | | 207,865 | |
| | — | | | | (53 | ) | | | — | | | | — | | | | — | | | | — | |
| | 177 | | | | — | | | | 5 | | | | 6,563 | | | | 477 | | | | 62 | |
| | 1,075,866 | | | | 419,438 | | | | 30,694 | | | | 215,280 | | | | 45,587 | | | | 1,011,344 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 451,275 | | | | 144,133 | | | | 14,281 | | | | 105,905 | | | | 14,459 | | | | 201,772 | |
| | 90,255 | | | | 28,827 | | | | 2,856 | | | | 21,181 | | | | 2,892 | | | | 40,355 | |
| | 65,968 | | | | 22,211 | | | | 2,493 | | | | 16,508 | | | | 2,341 | | | | 27,943 | |
| | 17,015 | | | | 34,935 | | | | 662 | | | | 2,401 | | | | 827 | | | | 12,258 | |
| | 37,594 | | | | 21,210 | | | | 1,612 | | | | 9,140 | | | | 1,604 | | | | 19,373 | |
| | 127,642 | | | | 27,067 | | | | 4,462 | | | | 30,676 | | | | 3,339 | | | | 48,312 | |
| | 19,487 | | | | 32,448 | | | | 16,329 | | | | 19,213 | | | | 18,816 | | | | 17,818 | |
| | 7,977 | | | | 2,963 | | | | 559 | | | | 2,967 | | | | 405 | | | | 4,295 | |
| | 37,193 | | | | 13,494 | | | | 1,431 | | | | 9,501 | | | | 1,522 | | | | 15,486 | |
| | 1,935 | | | | 914 | | | | 76 | | | | 484 | | | | 68 | | | | 783 | |
| | 749 | | | | 254 | | | | 28 | | | | 191 | | | | 29 | | | | 296 | |
| | 5,525 | | | | 1,720 | | | | 209 | | | | 1,386 | | | | 198 | | | | 2,265 | |
| | 85,295 | | | | 26,630 | | | | 4,471 | | | | 21,541 | | | | 4,078 | | | | 36,712 | |
| | 947,910 | | | | 356,806 | | | | 49,469 | | | | 241,094 | | | | 50,578 | | | | 427,668 | |
| | — | | | | — | | | | (14,913 | ) | | | — | | | | (15,434 | ) | | | — | |
| | 947,910 | | | | 356,806 | | | | 34,556 | | | | 241,094 | | | | 35,144 | | | | 427,668 | |
| | 127,956 | | | | 62,632 | | | | (3,862 | ) | | | (25,814 | ) | | | 10,443 | | | | 583,676 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | (1,206,797 | ) | | | 1,082,938 | | | | (199,283 | ) | | | 1,035,794 | | | | 87,257 | | | | (536,562 | ) |
| | — | | | | (250,580 | ) | | | — | | | | — | | | | — | | | | — | |
| | 3,969,954 | | | | (809,788 | ) | | | (267,260 | ) | | | (524,025 | ) | | | (265,044 | ) | | | 5,026,541 | |
| | 6,267,672 | | | | (1,881,637 | ) | | | 1,429 | | | | (1,101,474 | ) | | | (383,446 | ) | | | 4,662,916 | |
| | — | | | | 1,876 | | | | — | | | | — | | | | — | | | | — | |
| | (2,087,496 | ) | | | (250,249 | ) | | | 28,711 | | | | (167,752 | ) | | | (18,006 | ) | | | (2,177,775 | ) |
| | 6,943,333 | | | | (2,107,440 | ) | | | (436,403 | ) | | | (757,457 | ) | | | (579,239 | ) | | | 6,975,120 | |
| $ | 7,071,289 | | | $ | (2,044,808 | ) | | $ | (440,265 | ) | | $ | (783,271 | ) | | $ | (568,796 | ) | | $ | 7,558,796 | |
See accompanying notes to the financial statements.
198 :: Statements of Operations :: For the Periods Indicated (unaudited)
| | | Europe 30
ProFund | | | Falling
U.S. Dollar
ProFund | | | Financials
UltraSector
ProFund | | | Health Care
UltraSector
ProFund | |
| | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | |
| INVESTMENT INCOME: | | | | | | | | | | | | | | | | |
| Dividends | | $ | 51,278 | | | $ | — | | | $ | 39,255 | | | $ | 101,015 | |
| Interest | | | 891 | | | | 26,656 | | | | 18,788 | | | | 67,518 | |
| Foreign tax withholding | | | (2,315 | ) | | | — | | | | — | | | | — | |
| Net income from securities lending | | | 825 | | | | — | | | | 93 | | | | 10 | |
| TOTAL INVESTMENT INCOME | | | 50,679 | | | | 26,656 | | | | 58,136 | | | | 168,543 | |
| EXPENSES: | | | | | | | | | | | | | | | | |
| Advisory fees | | | 9,703 | | | | 5,553 | | | | 19,941 | | | | 65,530 | |
| Management services fees | | | 1,940 | | | | 1,111 | | | | 3,988 | | | | 13,106 | |
| Administration fees | | | 1,480 | | | | 1,446 | | | | 2,977 | | | | 10,105 | |
| Distribution and services fees—Service Class | | | 1,737 | | | | 83 | | | | 2,391 | | | | 5,379 | |
| Transfer agency fees | | | 1,137 | | | | 934 | | | | 2,449 | | | | 6,920 | |
| Administrative services fees | | | 1,473 | | | | 3,050 | | | | 4,273 | | | | 17,350 | |
| Registration and filing fees | | | 15,966 | | | | 19,352 | | | | 16,426 | | | | 19,458 | |
| Custody fees | | | 3,245 | | | | 6,600 | | | | 441 | | | | 1,433 | |
| Fund accounting fees | | | 832 | | | | 818 | | | | 2,085 | | | | 5,973 | |
| Trustee fees | | | 82 | | | | 53 | | | | 87 | | | | 301 | |
| Compliance services fees | | | 13 | | | | 15 | | | | 34 | | | | 116 | |
| Service fees | | | 107 | | | | 119 | | | | 249 | | | | 855 | |
| Other fees | | | 2,370 | | | | 3,485 | | | | 4,867 | | | | 13,924 | |
| Total Gross Expenses before reductions | | | 40,085 | | | | 42,619 | | | | 60,208 | | | | 160,450 | |
| Expenses reduced and reimbursed by the Advisor | | | (15,321 | ) | | | (29,356 | ) | | | (8,984 | ) | | | — | |
| TOTAL NET EXPENSES | | | 24,764 | | | | 13,263 | | | | 51,224 | | | | 160,450 | |
| NET INVESTMENT INCOME (LOSS) | | | 25,915 | | | | 13,393 | | | | 6,912 | | | | 8,093 | |
| REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS: | | | | | | | | | | | | | | | | |
| Net realized gains (losses) on investment securities | | | (40,802 | ) | | | — | | | | 58,606 | | | | 682,343 | |
| Net realized gains (losses) on swap agreements | | | — | | | | — | | | | 122,636 | | | | (139,667 | ) |
| Net realized gains (losses) on forward currency contracts | | | — | | | | 88,677 | | | | — | | | | — | |
| Change in net unrealized appreciation/depreciation on investment securities | | | 50,456 | | | | — | | | | 160,285 | | | | (584,975 | ) |
| Change in net unrealized appreciation/depreciation on swap agreements | | | — | | | | — | | | | (27,030 | ) | | | (279,735 | ) |
| Change in net unrealized appreciation/depreciation on forward currency contracts | | | — | | | | 21,081 | | | | — | | | | — | |
| NET REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS | | | 9,654 | | | | 109,758 | | | | 314,497 | | | | (322,034 | ) |
| CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | | $ | 35,569 | | | $ | 123,151 | | | $ | 321,409 | | | $ | (313,941 | ) |
Amounts designated as " – " are $0 or have been rounded to $0.
| * | As described in Note 11, effective March 17, 2023, this ProFund's name changed due to a change to its underlying benchmark index. |
See accompanying notes to the financial statements.
For the Periods Indicated (unaudited) :: Statements of Operations :: 199
Industrials
UltraSector
ProFund | | | Internet
UltraSector
ProFund | | | Large-Cap
Growth
ProFund | | | Large-Cap
Value
ProFund | | | Materials
UltraSector
ProFund* | | | Mid-Cap
Growth
ProFund | |
Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 22,914 | | | $ | 70,974 | | | $ | 52,943 | | | $ | 124,813 | | | $ | 38,756 | | | $ | 21,557 | |
| | 14,434 | | | | 251,995 | | | | 224 | | | | 221 | | | | 17,966 | | | | 118 | |
| | (3 | ) | | | — | | | | (26 | ) | | | (10 | ) | | | — | | | | — | |
| | 56 | | | | — | | | | — | | | | 2 | | | | 96 | | | | 735 | |
| | 37,401 | | | | 322,969 | | | | 53,141 | | | | 125,026 | | | | 56,818 | | | | 22,410 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 14,049 | | | | 261,276 | | | | 36,067 | | | | 42,311 | | | | 18,423 | | | | 13,723 | |
| | 2,810 | | | | 52,255 | | | | 7,213 | | | | 8,462 | | | | 3,685 | | | | 2,745 | |
| | 2,357 | | | | 41,202 | | | | 5,473 | | | | 5,361 | | | | 3,209 | | | | 1,963 | |
| | 1,391 | | | | 15,651 | | | | 6,226 | | | | 10,969 | | | | 2,519 | | | | 2,469 | |
| | 1,874 | | | | 23,873 | | | | 3,982 | | | | 4,619 | | | | 2,719 | | | | 1,565 | |
| | 3,616 | | | | 72,193 | | | | 8,037 | | | | 8,805 | | | | 3,658 | | | | 2,851 | |
| | 16,858 | | | | 21,277 | | | | 17,060 | | | | 19,293 | | | | 16,119 | | | | 15,706 | |
| | 564 | | | | 7,108 | | | | 941 | | | | 1,592 | | | | 479 | | | | 1,331 | |
| | 1,715 | | | | 23,089 | | | | 3,504 | | | | 3,707 | | | | 1,819 | | | | 1,556 | |
| | 70 | | | | 1,224 | | | | 242 | | | | 207 | | | | 97 | | | | 74 | |
| | 27 | | | | 484 | | | | 65 | | | | 62 | | | | 35 | | | | 21 | |
| | 196 | | | | 3,473 | | | | 421 | | | | 417 | | | | 262 | | | | 153 | |
| | 4,158 | | | | 57,356 | | | | 7,466 | | | | 7,117 | | | | 4,863 | | | | 2,726 | |
| | 49,685 | | | | 580,461 | | | | 96,697 | | | | 112,922 | | | | 57,887 | | | | 46,883 | |
| | (14,950 | ) | | | — | | | | — | | | | — | | | | (9,094 | ) | | | (9,666 | ) |
| | 34,735 | | | | 580,461 | | | | 96,697 | | | | 112,922 | | | | 48,793 | | | | 37,217 | |
| | 2,666 | | | | (257,492 | ) | | | (43,556 | ) | | | 12,104 | | | | 8,025 | | | | (14,807 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | (46,957 | ) | | | 1,501,186 | | | | 2,230,844 | | | | 1,416,421 | | | | 164,754 | | | | (156,493 | ) |
| | 147,893 | | | | (2,476,783 | ) | | | — | | | | — | | | | 410,892 | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 123,478 | | | | (2,239,419 | ) | | | (3,264,155 | ) | | | (286,111 | ) | | | 267,918 | | | | 104,002 | |
| | (110,478 | ) | | | (1,127,634 | ) | | | — | | | | — | | | | (51,515 | ) | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 113,936 | | | | (4,342,650 | ) | | | (1,033,311 | ) | | | 1,130,310 | | | | 792,049 | | | | (52,491 | ) |
| $ | 116,602 | | | $ | (4,600,142 | ) | | $ | (1,076,867 | ) | | $ | 1,142,414 | | | $ | 800,074 | | | $ | (67,298 | ) |
See accompanying notes to the financial statements.
200 :: Statements of Operations :: For the Periods Indicated (unaudited)
| | | Mid-Cap
ProFund | | | Mid-Cap
Value
ProFund | | | Nasdaq-100
ProFund | | | Oil & Gas
Equipment &
Services
UltraSector
ProFund* | |
| | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | |
| INVESTMENT INCOME: | | | | | | | | | | | | | | | | |
| Dividends | | $ | 35,650 | | | $ | 81,555 | | | $ | 148,823 | | | $ | 94,103 | |
| Interest | | | 27,798 | | | | 189 | | | | 1,018,291 | | | | 85,206 | |
| Foreign tax withholding | | | — | | | | — | | | | (248 | ) | | | (25 | ) |
| Net income from securities lending | | | 946 | | | | 444 | | | | 7,359 | | | | — | |
| TOTAL INVESTMENT INCOME | | | 64,394 | | | | 82,188 | | | | 1,174,225 | | | | 179,284 | |
| EXPENSES: | | | | | | | | | | | | | | | | |
| Advisory fees | | | 23,376 | | | | 27,561 | | | | 332,015 | | | | 77,554 | |
| Management services fees | | | 4,675 | | | | 5,512 | | | | 71,146 | | | | 15,511 | |
| Administration fees | | | 4,605 | | | | 4,040 | | | | 56,774 | | | | 11,067 | |
| Distribution and services fees—Service Class | | | 8,323 | | | | 3,392 | | | | 32,582 | | | | 21,135 | |
| Transfer agency fees | | | 5,097 | | | | 3,574 | | | | 39,507 | | | | 10,919 | |
| Administrative services fees | | | 4,766 | | | | 4,871 | | | | 106,931 | | | | 13,377 | |
| Registration and filing fees | | | 12,827 | | | | 12,789 | | | | 25,418 | | | | 18,483 | |
| Custody fees | | | 693 | | | | 1,099 | | | | 7,737 | | | | 4,288 | |
| Fund accounting fees | | | 3,194 | | | | 2,616 | | | | 32,179 | | | | 6,252 | |
| Trustee fees | | | 169 | | | | 177 | | | | 2,180 | | | | 309 | |
| Compliance services fees | | | 52 | | | | 46 | | | | 642 | | | | 124 | |
| Service fees | | | 375 | | | | 313 | | | | 4,436 | | | | 910 | |
| Audit fees | | | 2,830 | | | | 2,393 | | | | 34,799 | | | | 7,094 | |
| Other fees | | | 2,735 | | | | 2,625 | | | | 47,697 | | | | 8,393 | |
| Recoupment of prior expenses reduced by the Advisor | | | — | | | | 1,369 | | | | — | | | | — | |
| Total Gross Expenses before reductions | | | 73,717 | | | | 72,377 | | | | 794,043 | | | | 195,416 | |
| Expenses reduced and reimbursed by the Advisor | | | (9,916 | ) | | | (3,574 | ) | | | — | | | | — | |
| TOTAL NET EXPENSES | | | 63,801 | | | | 68,803 | | | | 794,043 | | | | 195,416 | |
| NET INVESTMENT INCOME (LOSS) | | | 593 | | | | 13,385 | | | | 380,182 | | | | (16,132 | ) |
| REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS: | | | | | | | | | | | | | | | | |
| Net realized gains (losses) on investment securities | | | (607,725 | ) | | | 320,689 | | | | 3,366,320 | | | | 741,810 | |
| Net realized gains (losses) on futures contracts | | | — | | | | — | | | | (331,897 | ) | | | — | |
| Net realized gains (losses) on swap agreements | | | (396,048 | ) | | | — | | | | (7,961,733 | ) | | | 4,401,739 | |
| Net realized gains (losses) on forward currency contracts | | | — | | | | — | | | | — | | | | — | |
| Change in net unrealized appreciation/depreciation on investment securities | | | 877,754 | | | | (511,535 | ) | | | (6,839,139 | ) | | | 4,018,122 | |
| Change in net unrealized appreciation/depreciation on futures contracts | | | — | | | | — | | | | (132,989 | ) | | | — | |
| Change in net unrealized appreciation/depreciation on swap agreements | | | (2,106 | ) | | | — | | | | 93,696 | | | | (226,161 | ) |
| Change in net unrealized appreciation/depreciation on forward currency contracts | | | — | | | | — | | | | — | | | | — | |
| NET REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS | | | (128,125 | ) | | | (190,846 | ) | | | (11,805,742 | ) | | | 8,935,510 | |
| CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | | $ | (127,532 | ) | | $ | (177,461 | ) | | $ | (11,425,560 | ) | | $ | 8,919,378 | |
Amounts designated as " – " are $0 or have been rounded to $0.
| * | As described in Note 11, effective March 17, 2023, this ProFund's name changed due to a change to its underlying benchmark index. |
See accompanying notes to the financial statements.
For the Periods Indicated (unaudited) :: Statements of Operations :: 201
Pharmaceuticals
UltraSector
ProFund | | | Precious
Metals
UltraSector
ProFund | | | Real Estate
UltraSector
ProFund | | | Rising Rates
Opportunity
ProFund | | | Rising Rates
Opportunity 10
ProFund | | | Rising
U.S. Dollar
ProFund | |
Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 33,094 | | | $ | 227,227 | | | $ | 48,242 | | | $ | — | | | $ | — | | | $ | — | |
| | 17,686 | | | | 83,584 | | | | 21,392 | | | | 568,491 | | | | 100,624 | | | | 456,459 | |
| | — | | | | (25,063 | ) | | | — | | | | — | | | | — | | | | — | |
| | 2,008 | | | | 1,253 | | | | — | | | | — | | | | — | | | | — | |
| | 52,788 | | | | 287,001 | | | | 69,634 | | | | 568,491 | | | | 100,624 | | | | 456,459 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 17,620 | | | | 78,254 | | | | 22,193 | | | | 137,099 | | | | 23,260 | | | | 108,788 | |
| | 3,524 | | | | 15,651 | | | | 4,439 | | | | 27,420 | | | | 4,652 | | | | 21,758 | |
| | 2,145 | | | | 11,185 | | | | 2,753 | | | | 17,532 | | | | 2,867 | | | | 11,692 | |
| | 1,433 | | | | 6,804 | | | | 1,628 | | | | 13,020 | | | | 4,529 | | | | 1,941 | |
| | 1,521 | | | | 9,167 | | | | 1,962 | | | | 11,169 | | | | 2,435 | | | | 8,562 | |
| | 3,815 | | | | 15,314 | | | | 4,590 | | | | 30,992 | | | | 5,071 | | | | 21,714 | |
| | 14,196 | | | | 16,150 | | | | 21,137 | | | | 25,870 | | | | 23,887 | | | | 16,666 | |
| | 1,022 | | | | 2,627 | | | | 667 | | | | 2,667 | | | | 429 | | | | 5,464 | |
| | 1,252 | | | | 6,312 | | | | 1,619 | | | | 10,688 | | | | 1,789 | | | | 6,768 | |
| | 66 | | | | 327 | | | | 80 | | | | 864 | | | | 128 | | | | 430 | |
| | 27 | | | | 129 | | | | 31 | | | | 186 | | | | 34 | | | | 156 | |
| | 182 | | | | 934 | | | | 225 | | | | 1,414 | | | | 237 | | | | 909 | |
| | 1,650 | | | | 7,021 | | | | 4,544 | | | | 11,406 | | | | 1,907 | | | | 7,168 | |
| | 2,245 | | | | 9,209 | | | | 3,004 | | | | 10,343 | | | | 2,596 | | | | 5,286 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | 38,664 | |
| | 50,698 | | | | 179,084 | | | | 68,872 | | | | 300,670 | | | | 73,821 | | | | 255,966 | |
| | (7,447 | ) | | | — | | | | (1,769 | ) | | | — | | | | (14,087 | ) | | | — | |
| | 43,251 | | | | 179,084 | | | | 67,103 | | | | 300,670 | | | | 59,734 | | | | 255,966 | |
| | 9,537 | | | | 107,917 | | | | 2,531 | | | | 267,821 | | | | 40,890 | | | | 200,493 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | (135,811 | ) | | | 66,037 | | | | (68,935 | ) | | | — | | | | — | | | | — | |
| | — | | | | — | | | | — | | | | 70,112 | | | | — | | | | — | |
| | (306,019 | ) | | | 4,402,165 | | | | (313,224 | ) | | | 5,504,526 | | | | 171,000 | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | (1,582,543 | ) |
| | (132,023 | ) | | | 3,362,910 | | | | (313,304 | ) | | | — | | | | — | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | (10,149 | ) | | | (1,118,523 | ) | | | (144,669 | ) | | | 438,131 | | | | 109,571 | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | 359,844 | |
| | (584,002 | ) | | | 6,712,589 | | | | (840,132 | ) | | | 6,012,769 | | | | 280,571 | | | | (1,222,699 | ) |
| $ | (574,465 | ) | | $ | 6,820,506 | | | $ | (837,601 | ) | | $ | 6,280,590 | | | $ | 321,461 | | | $ | (1,022,206 | ) |
See accompanying notes to the financial statements.
202 :: Statements of Operations :: For the Periods Indicated (unaudited)
| | | Semiconductor
UltraSector
ProFund | | | Short
Energy
ProFund* | | | Short
Nasdaq-100
ProFund | | | Short
Precious
Metals
ProFund | |
| | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | |
| INVESTMENT INCOME: | | | | | | | | | | | | | | | | |
| Dividends | | $ | 335,588 | | | $ | — | | | $ | — | | | $ | — | |
| Interest | | | 212,739 | | | | 30,652 | | | | 447,612 | | | | 73,746 | |
| Foreign tax withholding | | | (1,597 | ) | | | — | | | | — | | | | — | |
| Net income from securities lending | | | 804 | | | | — | | | | — | | | | — | |
| TOTAL INVESTMENT INCOME | | | 547,534 | | | | 30,652 | | | | 447,612 | | | | 73,746 | |
| EXPENSES: | | | | | | | | | | | | | | | | |
| Advisory fees | | | 206,313 | | | | 6,889 | | | | 106,219 | | | | 16,690 | |
| Management services fees | | | 41,263 | | | | 1,378 | | | | 21,244 | | | | 3,338 | |
| Administration fees | | | 31,777 | | | | 874 | | | | 15,567 | | | | 2,256 | |
| Distribution and services fees—Service Class | | | 14,667 | | | | 115 | | | | 2,267 | | | | 180 | |
| Transfer agency fees | | | 19,532 | | | | 666 | | | | 6,873 | | | | 1,444 | |
| Administrative services fees | | | 56,759 | | | | 1,566 | | | | 31,604 | | | | 5,359 | |
| Registration and filing fees | | | 18,707 | | | | 16,846 | | | | 27,361 | | | | 18,738 | |
| Custody fees | | | 6,094 | | | | 191 | | | | 5,614 | | | | 418 | |
| Fund accounting fees | | | 17,648 | | | | 547 | | | | 8,762 | | | | 1,393 | |
| Trustee fees | | | 966 | | | | 30 | | | | 798 | | | | 74 | |
| Compliance services fees | | | 368 | | | | 12 | | | | 157 | | | | 28 | |
| Service fees | | | 2,668 | | | | 81 | | | | 1,169 | | | | 205 | |
| Other fees | | | 41,145 | | | | 2,039 | | | | 19,018 | | | | 3,959 | |
| Recoupment of prior expenses reduced by the Advisor | | | — | | | | — | | | | 8,000 | | | | — | |
| Total Gross Expenses before reductions | | | 457,907 | | | | 31,234 | | | | 254,653 | | | | 54,082 | |
| Expenses reduced and reimbursed by the Advisor | | | — | | | | (14,769 | ) | | | (292 | ) | | | (14,290 | ) |
| TOTAL NET EXPENSES | | | 457,907 | | | | 16,465 | | | | 254,361 | | | | 39,792 | |
| NET INVESTMENT INCOME (LOSS) | | | 89,627 | | | | 14,187 | | | | 193,251 | | | | 33,954 | |
| REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS: | | | | | | | | | | | | | | | | |
| Net realized gains (losses) on investment securities | | | 3,734,674 | | | | — | | | | — | | | | — | |
| Net realized gains (losses) on futures contracts | | | — | | | | — | | | | (209,782 | ) | | | — | |
| Net realized gains (losses) on swap agreements | | | (541,520 | ) | | | (411,746 | ) | | | (1,696,039 | ) | | | (1,518,729 | ) |
| Change in net unrealized appreciation/depreciation on investment securities | | | (6,464,803 | ) | | | — | | | | — | | | | — | |
| Change in net unrealized appreciation/depreciation on futures contracts | | | — | | | | — | | | | 126,652 | | | | — | |
| Change in net unrealized appreciation/depreciation on swap agreements | | | (2,244,452 | ) | | | 211,085 | | | | 2,113,273 | | | | 233,674 | |
| NET REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS | | | (5,516,101 | ) | | | (200,661 | ) | | | 334,104 | | | | (1,285,055 | ) |
| CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | | $ | (5,426,474 | ) | | $ | (186,474 | ) | | $ | 527,355 | | | $ | (1,251,101 | ) |
Amounts designated as " – " are $0 or have been rounded to $0.
| * | As described in Note 11, effective March 17, 2023, this ProFund's name changed due to a change to its underlying benchmark index. |
See accompanying notes to the financial statements.
For the Periods Indicated (unaudited) :: Statements of Operations :: 203
Short
Real Estate
ProFund | | | Short
Small-Cap
ProFund | | | Small-Cap
Growth
ProFund | | | Small-Cap
ProFund | | | Small-Cap
Value
ProFund | | | Technology
UltraSector
ProFund | |
Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | — | | | $ | — | | | $ | 34,680 | | | $ | 17,929 | | | $ | 92,970 | | | $ | 137,125 | |
| | 31,970 | | | | 69,145 | | | | 64 | | | | 27,402 | | | | 239 | | | | 140,324 | |
| | — | | | | — | | | | (1 | ) | | | (11 | ) | | | (2 | ) | | | (210 | ) |
| | — | | | | — | | | | 32 | | | | 627 | | | | 579 | | | | 642 | |
| | 31,970 | | | | 69,145 | | | | 34,775 | | | | 45,947 | | | | 93,786 | | | | 277,881 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 7,225 | | | | 14,221 | | | | 18,676 | | | | 14,146 | | | | 33,155 | | | | 150,245 | |
| | 1,445 | | | | 2,844 | | | | 3,735 | | | | 2,829 | | | | 6,631 | | | | 30,049 | |
| | 742 | | | | 1,368 | | | | 2,533 | | | | 1,859 | | | | 5,597 | | | | 23,911 | |
| | 194 | | | | 444 | | | | 3,284 | | | | 1,543 | | | | 3,708 | | | | 18,741 | |
| | 586 | | | | 1,009 | | | | 1,946 | | | | 1,879 | | | | 4,604 | | | | 16,075 | |
| | 1,234 | | | | 2,759 | | | | 3,449 | | | | 2,032 | | | | 6,566 | | | | 37,888 | |
| | 14,091 | | | | 18,004 | | | | 14,634 | | | | 17,159 | | | | 17,624 | | | | 21,271 | |
| | 70 | | | | 280 | | | | 1,265 | | | | 307 | | | | 1,229 | | | | 4,705 | |
| | 476 | | | | 929 | | | | 2,033 | | | | 4,669 | | | | 3,905 | | | | 13,632 | |
| | 22 | | | | 47 | | | | 102 | | | | 76 | | | | 243 | | | | 695 | |
| | 10 | | | | 38 | | | | 27 | | | | 23 | | | | 68 | | | | 283 | |
| | 70 | | | | 122 | | | | 194 | | | | 144 | | | | 412 | | | | 2,007 | |
| | 1,808 | | | | 4,457 | | | | 3,329 | | | | 4,529 | | | | 7,451 | | | | 32,632 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 27,973 | | | | 46,522 | | | | 55,207 | | | | 51,195 | | | | 91,193 | | | | 352,134 | |
| | (10,632 | ) | | | (12,326 | ) | | | (4,569 | ) | | | (16,078 | ) | | | — | | | | — | |
| | 17,341 | | | | 34,196 | | | | 50,638 | | | | 35,117 | | | | 91,193 | | | | 352,134 | |
| | 14,629 | | | | 34,949 | | | | (15,863 | ) | | | 10,830 | | | | 2,593 | | | | (74,253 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | — | | | | — | | | | 604,681 | | | | (16,267 | ) | | | 802,977 | | | | 2,974,267 | |
| | — | | | | (2,661 | ) | | | — | | | | — | | | | — | | | | — | |
| | (69,333 | ) | | | 112,337 | | | | — | | | | (299,105 | ) | | | — | | | | (2,032,659 | ) |
| | — | | | | — | | | | (675,141 | ) | | | 118,005 | | | | (724,743 | ) | | | (6,153,760 | ) |
| | — | | | | 9,306 | | | | — | | | | — | | | | — | | | | — | |
| | 54,492 | | | | 6,044 | | | | — | | | | (5,705 | ) | | | — | | | | (1,733,869 | ) |
| | (14,841 | ) | | | 125,026 | | | | (70,460 | ) | | | (203,072 | ) | | | 78,234 | | | | (6,946,021 | ) |
| $ | (212 | ) | | $ | 159,975 | | | $ | (86,323 | ) | | $ | (192,242 | ) | | $ | 80,827 | | | $ | (7,020,274 | ) |
See accompanying notes to the financial statements.
204 :: Statements of Operations :: For the Periods Indicated (unaudited)
| | | Telecommunications
UltraSector
ProFund+ | | | UltraBear
ProFund | | | UltraBull
ProFund | | | UltraChina
ProFund | |
| | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | |
| INVESTMENT INCOME: | | | | | | | | | | | | | | | | |
| Dividends | | $ | 8,505 | | | $ | — | | | $ | 624,693 | | | $ | 8,778 | |
| Interest | | | 2,946 | | | | 232,123 | | | | 416,095 | | | | 51,968 | |
| Foreign tax withholding | | | — | | | | — | | | | (140 | ) | | | 7,164 | |
| Net income from securities lending | | | — | | | | — | | | | — | | | | 3,907 | |
| TOTAL INVESTMENT INCOME | | | 11,451 | | | | 232,123 | | | | 1,040,648 | | | | 71,817 | |
| EXPENSES: | | | | | | | | | | | | | | | | |
| Advisory fees | | | 2,529 | | | | 50,766 | | | | 369,817 | | | | 67,452 | |
| Management services fees | | | 506 | | | | 10,153 | | | | 73,964 | | | | 13,491 | |
| Administration fees | | | 533 | | | | 7,251 | | | | 56,966 | | | | 11,594 | |
| Distribution and services fees—Service Class | | | 124 | | | | 270 | | | | 9,578 | | | | 5,217 | |
| Transfer agency fees | | | 470 | | | | 4,664 | | | | 35,075 | | | | 7,423 | |
| Administrative services fees | | | 727 | | | | 11,808 | | | | 91,286 | | | | 19,575 | |
| Registration and filing fees | | | 29,042 | | | | 25,902 | | | | 30,331 | | | | 17,332 | |
| Custody fees | | | 964 | | | | 2,425 | | | | 6,986 | | | | 9,186 | |
| Fund accounting fees | | | 403 | | | | 4,075 | | | | 32,735 | | | | 6,507 | |
| Trustee fees | | | 9 | | | | 292 | | | | 2,230 | | | | 476 | |
| Compliance services fees | | | 6 | | | | 81 | | | | 638 | | | | 128 | |
| Service fees | | | 44 | | | | 559 | | | | 4,461 | | | | 935 | |
| Other fees | | | 8,635 | | | | 9,236 | | | | 67,615 | | | | 15,437 | |
| Total Gross Expenses before reductions | | | 43,992 | | | | 127,482 | | | | 781,682 | | | | 174,753 | |
| Expenses reduced and reimbursed by the Advisor | | | (37,867 | ) | | | (6,727 | ) | | | — | | | | (1,615 | ) |
| TOTAL NET EXPENSES | | | 6,125 | | | | 120,755 | | | | 781,682 | | | | 173,138 | |
| NET INVESTMENT INCOME (LOSS) | | | 5,326 | | | | 111,368 | | | | 258,966 | | | | (101,321 | ) |
| REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS: | | | | | | | | | | | | | | | | |
| Net realized gains (losses) on investment securities | | | 122,643 | | | | — | | | | (2,450,747 | ) | | | (1,903,243 | ) |
| Net realized gains (losses) on futures contracts | | | — | | | | (8,388 | ) | | | 118,521 | | | | — | |
| Net realized gains (losses) on swap agreements | | | (6,453 | ) | | | (922,072 | ) | | | (3,297,132 | ) | | | 3,663,242 | |
| Change in net unrealized appreciation/depreciation on investment securities | | | (158,022 | ) | | | — | | | | 904,958 | | | | 4,416,053 | |
| Change in net unrealized appreciation/depreciation on futures contracts | | | — | | | | 22,076 | | | | 133,474 | | | | — | |
| Change in net unrealized appreciation/depreciation on swap agreements | | | (20,933 | ) | | | 538,460 | | | | (3,309,074 | ) | | | (860,904 | ) |
| NET REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS | | | (62,765 | ) | | | (369,924 | ) | | | (7,900,000 | ) | | | 5,315,148 | |
| CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | | $ | (57,439 | ) | | $ | (258,556 | ) | | $ | (7,641,034 | ) | | $ | 5,213,827 | |
Amounts designated as " – " are $0 or have been rounded to $0.
+ As described in Note 11, the Telecommunications UltraSector ProFund liquidated on February 7, 2023.
See accompanying notes to the financial statements.
For the Periods Indicated (unaudited) :: Statements of Operations :: 205
UltraDow 30
ProFund | | | UltraEmerging
Markets
ProFund | | | UltraInternational
ProFund | | | UltraJapan
ProFund | | | UltraLatin
America
ProFund | | | UltraMid-Cap
ProFund | |
Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | |
| $ | 256,791 | | | $ | 146,481 | | | $ | — | | | $ | — | | | $ | 582,862 | | | $ | 258,864 | |
| | 118,208 | | | | 18,891 | | | | 54,373 | | | | 182,576 | | | | 21,056 | | | | 171,614 | |
| | — | | | | (11,297 | ) | | | — | | | | — | | | | (11,301 | ) | | | — | |
| | — | | | | 2,502 | | | | — | | | | — | | | | 14,428 | | | | 8,110 | |
| | 374,999 | | | | 156,577 | | | | 54,373 | | | | 182,576 | | | | 607,045 | | | | 438,588 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 118,043 | | | | 28,373 | | | | 11,758 | | | | 56,012 | | | | 36,769 | | | | 156,313 | |
| | 23,609 | | | | 5,675 | | | | 2,352 | | | | 9,335 | | | | 7,354 | | | | 31,263 | |
| | 17,725 | | | | 4,462 | | | | 2,033 | | | | 6,879 | | | | 5,371 | | | | 23,861 | |
| | 3,902 | | | | 561 | | | | 362 | | | | 696 | | | | 769 | | | | 4,060 | |
| | 12,095 | | | | 2,848 | | | | 1,690 | | | | 6,590 | | | | 6,298 | | | | 13,152 | |
| | 29,035 | | | | 8,175 | | | | 3,851 | | | | 7,752 | | | | 4,079 | | | | 44,080 | |
| | 19,314 | | | | 15,998 | | | | 13,413 | | | | 19,797 | | | | 15,906 | | | | 19,870 | |
| | 1,875 | | | | 2,719 | | | | 296 | | | | 745 | | | | 6,675 | | | | 4,110 | |
| | 9,945 | | | | 2,617 | | | | 1,264 | | | | 3,857 | | | | 3,055 | | | | 14,080 | |
| | 698 | | | | 173 | | | | 80 | | | | 280 | | | | 231 | | | | 917 | |
| | 196 | | | | 51 | | | | 24 | | | | 76 | | | | 61 | | | | 268 | |
| | 1,366 | | | | 363 | | | | 185 | | | | 534 | | | | 417 | | | | 1,873 | |
| | 26,468 | | | | 6,448 | | | | 2,911 | | | | 8,044 | | | | 8,520 | | | | 27,944 | |
| | 264,271 | | | | 78,463 | | | | 40,219 | | | | 120,597 | | | | 95,505 | | | | 341,791 | |
| | — | | | | (7,516 | ) | | | (11,951 | ) | | | (9,121 | ) | | | — | | | | — | |
| | 264,271 | | | | 70,947 | | | | 28,268 | | | | 111,476 | | | | 95,505 | | | | 341,791 | |
| | 110,728 | | | | 85,630 | | | | 26,105 | | | | 71,100 | | | | 511,540 | | | | 96,797 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | (613,530 | ) | | | (193,395 | ) | | | — | | | | — | | | | (182,038 | ) | | | 482,390 | |
| | 167,789 | | | | — | | | | — | | | | (17,237 | ) | | | — | | | | (93,205 | ) |
| | 1,447,969 | | | | 1,423,662 | | | | 931,590 | | | | 7,666 | | | | 1,546,458 | | | | 1,897,904 | |
| | 1,305,086 | | | | 1,027,098 | | | | — | | | | — | | | | 736,538 | | | | 1,210,286 | |
| | 69,903 | | | | — | | | | — | | | | (403,823 | ) | | | — | | | | 341,257 | |
| | (655,929 | ) | | | (236,261 | ) | | | (109,343 | ) | | | 719 | | | | (117,591 | ) | | | (926,495 | ) |
| | 1,721,288 | | | | 2,021,104 | | | | 822,247 | | | | (412,675 | ) | | | 1,983,367 | | | | 2,912,137 | |
| $ | 1,832,016 | | | $ | 2,106,734 | | | $ | 848,352 | | | $ | (341,575 | ) | | $ | 2,494,907 | | | $ | 3,008,934 | |
See accompanying notes to the financial statements.
206 :: Statements of Operations :: For the Periods Indicated (unaudited)
| | | UltraNasdaq-100
ProFund | | | UltraShort
China
ProFund | | | UltraShort
Dow 30
ProFund | | | UltraShort
Emerging
Markets
ProFund | |
| | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | |
| INVESTMENT INCOME: | | | | | | | | | | | | | | | | |
| Dividends | | $ | 1,726,637 | | | $ | — | | | $ | — | | | $ | — | |
| Interest | | | 2,502,880 | | | | 43,560 | | | | 53,825 | | | | 23,798 | |
| Foreign tax withholding | | | (2,446 | ) | | | — | | | | — | | | | — | |
| Net income from securities lending | | | 78,500 | | | | — | | | | — | | | | — | |
| TOTAL INVESTMENT INCOME | | | 4,305,571 | | | | 43,560 | | | | 53,825 | | | | 23,798 | |
| EXPENSES: | | | | | | | | | | | | | | | | |
| Advisory fees | | | 1,976,287 | | | | 8,071 | | | | 11,919 | | | | 5,285 | |
| Management services fees | | | 395,259 | | | | 1,614 | | | | 2,384 | | | | 1,057 | |
| Administration fees | | | 309,798 | | | | 1,109 | | | | 1,526 | | | | 979 | |
| Distribution and services fees—Service Class | | | 55,058 | | | | 37 | | | | 517 | | | | 344 | |
| Transfer agency fees | | | 201,309 | | | | 963 | | | | 951 | | | | 866 | |
| Administrative services fees | | | 542,573 | | | | 1,705 | | | | 2,764 | | | | 1,622 | |
| Registration and filing fees | | | 59,230 | | | | 21,071 | | | | 15,724 | | | | 8,711 | |
| Custody fees | | | 61,351 | | | | 745 | | | | 905 | | | | 255 | |
| Fund accounting fees | | | 172,838 | | | | 688 | | | | 864 | | | | 616 | |
| Trustee fees | | | 12,548 | | | | 48 | | | | 59 | | | | 39 | |
| Compliance services fees | | | 3,590 | | | | 14 | | | | 18 | | | | 12 | |
| Service fees | | | 23,884 | | | | 96 | | | | 119 | | | | 81 | |
| Nasdaq trading symbol fees | | | 800 | | | | 800 | | | | 800 | | | | 800 | |
| Other fees | | | 452,789 | | | | 2,145 | | | | 2,174 | | | | 2,176 | |
| Total Gross Expenses before reductions | | | 4,267,314 | | | | 39,106 | | | | 40,724 | | | | 22,843 | |
| Expenses reduced and reimbursed by the Advisor | | | — | | | | (19,915 | ) | | | (11,918 | ) | | | (9,955 | ) |
| TOTAL NET EXPENSES | | | 4,267,314 | | | | 19,191 | | | | 28,806 | | | | 12,888 | |
| NET INVESTMENT INCOME (LOSS) | | | 38,257 | | | | 24,369 | | | | 25,019 | | | | 10,910 | |
| REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS: | | | | | | | | | | | | | | | | |
| Net realized gains (losses) on investment securities | | | 18,982,280 | | | | — | | | | — | | | | — | |
| Net realized gains (losses) on futures contracts | | | (3,237,459 | ) | | | — | | | | — | | | | — | |
| Net realized gains (losses) on swap agreements | | | (70,624,350 | ) | | | (1,696,094 | ) | | | (564,858 | ) | | | (392,120 | ) |
| Change in net unrealized appreciation/depreciation on investment securities | | | (59,044,656 | ) | | | — | | | | — | | | | — | |
| Change in net unrealized appreciation/depreciation on futures contracts | | | 3,186,772 | | | | — | | | | — | | | | — | |
| Change in net unrealized appreciation/depreciation on swap agreements | | | (21,577,883 | ) | | | 66,163 | | | | 94,146 | | | | 14,403 | |
| NET REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS | | | (132,315,296 | ) | | | (1,629,931 | ) | | | (470,712 | ) | | | (377,717 | ) |
| CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | | $ | (132,277,039 | ) | | $ | (1,605,562 | ) | | $ | (445,693 | ) | | $ | (366,807 | ) |
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 :: 207
UltraShort
International
ProFund | | | UltraShort
Japan
ProFund | | | UltraShort
Latin America
ProFund | | | UltraShort
Mid-Cap
ProFund | | | UltraShort
Nasdaq-100
ProFund | | | UltraShort
Small-Cap
ProFund | |
Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | |
| $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
| | 61,802 | | | | 5,598 | | | | 23,801 | | | | 29,960 | | | | 616,259 | | | | 110,595 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 61,802 | | | | 5,598 | | | | 23,801 | | | | 29,960 | | | | 616,259 | | | | 110,595 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 13,648 | | | | 1,708 | | | | 5,353 | | | | 6,493 | | | | 129,466 | | | | 23,669 | |
| | 2,729 | | | | 285 | | | | 1,071 | | | | 1,299 | | | | 25,893 | | | | 4,734 | |
| | 1,639 | | | | 250 | | | | 745 | | | | 853 | | | | 18,245 | | | | 3,686 | |
| | 38 | | | | 265 | | | | 141 | | | | 270 | | | | 899 | | | | 899 | |
| | 1,020 | | | | 220 | | | | 518 | | | | 612 | | | | 9,039 | | | | 3,391 | |
| | 3,575 | | | | 372 | | | | 1,443 | | | | 1,527 | | | | 34,570 | | | | 4,792 | |
| | 10,900 | | | | 18,680 | | | | 14,441 | | | | 15,240 | | | | 27,505 | | | | 18,674 | |
| | 1,197 | | | | 27 | | | | 791 | | | | 338 | | | | 7,134 | | | | 1,602 | |
| | 1,053 | | | | 155 | | | | 475 | | | | 495 | | | | 9,864 | | | | 2,090 | |
| | 63 | | | | 9 | | | | 30 | | | | 31 | | | | 881 | | | | 141 | |
| | 20 | | | | 3 | | | | 9 | | | | 10 | | | | 167 | | | | 41 | |
| | 141 | | | | 20 | | | | 64 | | | | 68 | | | | 1,358 | | | | 297 | |
| | 800 | | | | 800 | | | | 800 | | | | 800 | | | | 800 | | | | 800 | |
| | 1,992 | | | | 716 | | | | 1,294 | | | | 1,029 | | | | 20,188 | | | | 6,581 | |
| | 38,815 | | | | 23,510 | | | | 27,175 | | | | 29,065 | | | | 286,009 | | | | 71,397 | |
| | (6,387 | ) | | | (19,868 | ) | | | (14,328 | ) | | | (13,385 | ) | | | — | | | | (14,323 | ) |
| | 32,428 | | | | 3,642 | | | | 12,847 | | | | 15,680 | | | | 286,009 | | | | 57,074 | |
| | 29,374 | | | | 1,956 | | | | 10,954 | | | | 14,280 | | | | 330,250 | | | | 53,521 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | (10,235 | ) | | | — | | | | 9,292 | | | | 47,568 | | | | — | |
| | (1,284,873 | ) | | | 5,692 | | | | (683,713 | ) | | | (184,222 | ) | | | (20,223,354 | ) | | | (474,104 | ) |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | (12,932 | ) | | | — | | | | (21,854 | ) | | | 79,721 | | | | — | |
| | 106,288 | | | | (888 | ) | | | 76,653 | | | | 63,457 | | | | 6,113,082 | | | | 179,034 | |
| | (1,178,585 | ) | | | (18,363 | ) | | | (607,060 | ) | | | (133,327 | ) | | | (13,982,983 | ) | | | (295,070 | ) |
| $ | (1,149,211 | ) | | $ | (16,407 | ) | | $ | (596,106 | ) | | $ | (119,047 | ) | | $ | (13,652,733 | ) | | $ | (241,549 | ) |
See accompanying notes to the financial statements.
208 :: Statements of Operations :: For the Periods Indicated (unaudited)
| | | UltraSmall-Cap
ProFund | | | U.S.
Government
Plus
ProFund | | | Utilities
UltraSector
ProFund | |
| | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | |
| INVESTMENT INCOME: | | | | | | | | | | | | |
| Dividends | | $ | 345,532 | | | $ | — | | | $ | 134,952 | |
| Interest | | | 258,249 | | | | 121,117 | | | | 38,329 | |
| Foreign tax withholding | | | (316 | ) | | | — | | | | — | |
| TOTAL INVESTMENT INCOME | | | 603,465 | | | | 121,117 | | | | 173,281 | |
| EXPENSES: | | | | | | | | | | | | |
| Advisory fees | | | 214,041 | | | | 18,767 | | | | 41,481 | |
| Management services fees | | | 42,808 | | | | 5,630 | | | | 8,296 | |
| Administration fees | | | 34,932 | | | | 3,855 | | | | 5,623 | |
| Distribution and services fees—Service Class | | | 892 | | | | 2,795 | | | | 4,484 | |
| Transfer agency fees | | | 18,714 | | | | 2,657 | | | | 4,182 | |
| Administrative services fees | | | 67,235 | | | | 7,205 | | | | 8,773 | |
| Registration and filing fees | | | 22,481 | | | | 26,935 | | | | 17,456 | |
| Custody fees | | | 3,947 | | | | 888 | | | | 1,050 | |
| Fund accounting fees | | | 23,376 | | | | 2,187 | | | | 3,200 | |
| Trustee fees | | | 1,364 | | | | 154 | | | | 148 | |
| Licensing fees | | | 28,038 | | | | — | | | | 756 | |
| Compliance services fees | | | 400 | | | | 52 | | | | 63 | |
| Service fees | | | 2,722 | | | | 295 | | | | 472 | |
| Other fees | | | 37,521 | | | | 5,183 | | | | 7,200 | |
| Total Gross Expenses before reductions | | | 498,471 | | | | 76,603 | | | | 103,184 | |
| Expenses reduced and reimbursed by the Advisor | | | — | | | | (2,756 | ) | | | — | |
| TOTAL NET EXPENSES | | | 498,471 | | | | 73,847 | | | | 103,184 | |
| NET INVESTMENT INCOME (LOSS) | | | 104,994 | | | | 47,270 | | | | 70,097 | |
| REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS: | | | | | | | | | | | | |
| Net realized gains (losses) on investment securities | | | (4,305,159 | ) | | | — | | | | (326,802 | ) |
| Net realized gains (losses) on futures contracts | | | (585,054 | ) | | | (5,014 | ) | | | — | |
| Net realized gains (losses) on swap agreements | | | 495,609 | | | | (1,680,591 | ) | | | (290,602 | ) |
| Change in net unrealized appreciation/depreciation on investment securities | | | 4,471,351 | | | | — | | | | (513,560 | ) |
| Change in net unrealized appreciation/depreciation on futures contracts | | | 561,931 | | | | — | | | | — | |
| Change in net unrealized appreciation/depreciation on swap agreements | | | (70,193 | ) | | | (75,675 | ) | | | (475,164 | ) |
| NET REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS | | | 568,485 | | | | (1,761,280 | ) | | | (1,606,128 | ) |
| CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | | $ | 673,479 | | | $ | (1,714,010 | ) | | $ | (1,536,031 | ) |
Amounts designated as " – " are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
Consolidated Statements of Operations
210 :: Consolidated Statements of Operations :: For the Periods Indicated (unaudited)
| | | Bitcoin
Strategy
ProFund | | | Short Bitcoin
Strategy
ProFund | |
| | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | |
| INVESTMENT INCOME: | | | | | | | | |
| Interest | | $ | 167,680 | | | $ | 3,147 | |
| TOTAL INVESTMENT INCOME | | | 167,680 | | | | 3,147 | |
| EXPENSES: | | | | | | | | |
| Advisory fees | | | 49,000 | | | | 1,351 | |
| Management services fees | | | 16,333 | | | | 450 | |
| Administration fees | | | 8,704 | | | | 223 | |
| Transfer agency fees | | | 7,023 | | | | 516 | |
| Administrative services fees | | | 25,781 | | | | — | |
| Legal fees | | | 2,906 | | | | 2,848 | |
| Registration and filing fees | | | 15,779 | | | | 21,174 | |
| Custody fees | | | 1,705 | | | | 45 | |
| Fund accounting fees | | | 13,991 | | | | 7,935 | |
| Trustee fees | | | 444 | | | | 8 | |
| Compliance services fees | | | 154 | | | | 4 | |
| Service fees | | | 1,127 | | | | 23 | |
| Interest expense | | | 4,854 | | | | 83 | |
| Futures commission merchant (FCM) fees | | | 27,807 | | | | 762 | |
| Other fees | | | 10,275 | | | | 2,494 | |
| Total Gross Expenses before reductions | | | 185,883 | | | | 37,916 | |
| Expenses reduced and reimbursed by the Advisor | | | (50,182 | ) | | | (33,803 | ) |
| Fees paid indirectly | | | (1,705 | ) | | | (45 | ) |
| TOTAL NET EXPENSES | | | 133,996 | | | | 4,068 | |
| NET INVESTMENT INCOME (LOSS) | | | 33,684 | | | | (921 | ) |
| REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS: | | | | | | | | |
| Net realized gains (losses) on investment securities | | | (3,145 | ) | | | (45 | ) |
| Net realized gains (losses) on futures contracts | | | 101,888 | | | | (110,713 | ) |
| Change in net unrealized appreciation/depreciation on investment securities | | | 2,240 | | | | 67 | |
| Change in net unrealized appreciation/depreciation on futures contracts | | | 509,054 | | | | 1,337 | |
| NET REALIZED AND UNREALIZED GAINS (LOSSES) ON INVESTMENTS | | | 610,037 | | | | (109,354 | ) |
| CHANGE IN NET ASSETS RESULTING FROM OPERATIONS | | $ | 643,721 | | | $ | (110,275 | ) |
Amounts designated as " – " are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
Statements of Changes in Net Assets
212 :: Statements of Changes in Net Assets :: For the Periods Indicated
| | | Access Flex
Bear High Yield ProFund | | | Access Flex
High Yield ProFund | |
| | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | |
| FROM INVESTMENT ACTIVITIES: | | | | | | | | | | | | | | | | |
| OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income (loss) | | $ | 8,590 | | | $ | (13,339 | ) | | $ | 157,913 | | | $ | (122,716 | ) |
| Net realized gains (losses) on investments | | | 81,752 | | | | 14,059 | | | | 147,958 | | | | (1,082,293 | ) |
| Change in net unrealized appreciation/depreciation on investments | | | (158,958 | ) | | | (9,285 | ) | | | 1,167,366 | | | | (88,882 | ) |
| Change in net assets resulting from operations | | | (68,616 | ) | | | (8,565 | ) | | | 1,473,237 | | | | (1,293,891 | ) |
| DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions | | | | | | | | | | | | | | | | |
| Investor Class | | | — | | | | — | | | | (728,852 | ) | | | (51,036 | ) |
| Service Class | | | — | | | | — | | | | (49,746 | ) | | | (5,949 | ) |
| Change in net assets resulting from distributions | | | — | | | | — | | | | (778,598 | ) | | | (56,985 | ) |
| Change in net assets resulting from capital transactions | | | (69,837 | ) | | | 1,770,056 | | | | 13,862,241 | | | | (2,350,270 | ) |
| Change in net assets | | | (138,453 | ) | | | 1,761,491 | | | | 14,556,880 | | | | (3,701,146 | ) |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of period | | | 2,217,258 | | | | 455,767 | | | | 13,078,451 | | | | 16,779,597 | |
| End of period | | $ | 2,078,805 | | | $ | 2,217,258 | | | $ | 27,635,331 | | | $ | 13,078,451 | |
| CAPITAL TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | $ | 4,816,518 | | | $ | 9,873,185 | | | $ | 55,984,180 | | | $ | 38,658,725 | |
| Distributions reinvested | | | — | | | | — | | | | 728,088 | | | | 50,961 | |
| Value of shares redeemed | | | (4,899,595 | ) | | | (8,120,862 | ) | | | (41,707,213 | ) | | | (41,161,096 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | | 358,856 | | | | 23,923 | | | | 396,606 | | | | 3,429,882 | |
| Distributions reinvested | | | — | | | | — | | | | 49,746 | | | | 5,949 | |
| Value of shares redeemed | | | (345,616 | ) | | | (6,190 | ) | | | (1,589,166 | ) | | | (3,334,691 | ) |
| Change in net assets resulting from capital transactions | | $ | (69,837 | ) | | $ | 1,770,056 | | | $ | 13,862,241 | | | $ | (2,350,270 | ) |
| SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Issued | | | 147,060 | | | | 310,558 | | | | 1,938,906 | | | | 1,255,799 | |
| Reinvested | | | — | | | | — | | | | 25,434 | | | | 1,560 | |
| Redeemed | | | (149,190 | ) | | | (256,371 | ) | | | (1,431,986 | ) | | | (1,331,389 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Issued | | | 12,614 | | | | 847 | | | | 13,751 | | | | 113,433 | |
| Reinvested | | | — | | | | — | | | | 1,755 | | | | 184 | |
| Redeemed | | | (12,980 | ) | | | (236 | ) | | | (56,745 | ) | | | (110,832 | ) |
| Change in shares | | | (2,496 | ) | | | 54,798 | | | | 491,115 | | | | (71,245 | ) |
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
| Banks UltraSector ProFund | | | Bear ProFund | | | Biotechnology UltraSector ProFund | |
Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | |
| $ | 31,008 | | | $ | 16,529 | | | $ | 159,542 | | | $ | (237,455 | ) | | $ | 127,956 | | | $ | (570,798 | ) |
| | 386,452 | | | | (2,688,803 | ) | | | 467,273 | | | | 1,653,221 | | | | 2,763,157 | | | | (327,155 | ) |
| | 160,368 | | | | (950,510 | ) | | | 337,334 | | | | (356,882 | ) | | | 4,180,176 | | | | (35,768,530 | ) |
| | 577,828 | | | | (3,622,784 | ) | | | 964,149 | | | | 1,058,884 | | | | 7,071,289 | | | | (36,666,483 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | (20,726 | ) | | | — | | | | — | | | | — | | | | — | | | | (24,461,852 | ) |
| | — | | | | — | | | | — | | | | — | | | | — | | | | (1,060,495 | ) |
| | (20,726 | ) | | | — | | | | — | | | | — | | | | — | | | | (25,522,347 | ) |
| | (407,540 | ) | | | (111,716,922 | ) | | | (1,144,549 | ) | | | 1,042,300 | | | | (8,682,047 | ) | | | 12,077,394 | |
| | 149,562 | | | | (115,339,706 | ) | | | (180,400 | ) | | | 2,101,184 | | | | (1,610,758 | ) | | | (50,111,436 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 8,240,065 | | | | 123,579,771 | | | | 12,689,504 | | | | 10,588,320 | | | | 123,525,806 | | | | 173,637,242 | |
| $ | 8,389,627 | | | $ | 8,240,065 | | | $ | 12,509,104 | | | $ | 12,689,504 | | | $ | 121,915,048 | | | $ | 123,525,806 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 15,123,671 | | | $ | 90,492,770 | | | $ | 130,274,758 | | | $ | 243,238,270 | | | $ | 16,267,725 | | | $ | 53,884,310 | |
| | 20,323 | | | | — | | | | — | | | | — | | | | — | | | | 24,133,912 | |
| | (15,494,214 | ) | | | (201,794,284 | ) | | | (131,983,317 | ) | | | (242,047,163 | ) | | | (24,261,613 | ) | | | (66,434,842 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 864,997 | | | | 6,034,216 | | | | 4,357,195 | | | | 3,022,768 | | | | 2,891,229 | | | | 2,799,362 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | 1,056,031 | |
| | (922,317 | ) | | | (6,449,624 | ) | | | (3,793,185 | ) | | | (3,171,575 | ) | | | (3,579,388 | ) | | | (3,361,379 | ) |
| $ | (407,540 | ) | | $ | (111,716,922 | ) | | $ | (1,144,549 | ) | | $ | 1,042,300 | | | $ | (8,682,047 | ) | | $ | 12,077,394 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 337,393 | | | | 1,443,393 | | | | 7,801,384 | | | | 15,147,720 | | | | 277,549 | | | | 754,662 | |
| | 468 | | | | — | | | | — | | | | — | | | | — | | | | 353,610 | |
| | (346,789 | ) | | | (3,433,925 | ) | | | (7,849,888 | ) | | | (15,002,406 | ) | | | (425,178 | ) | | | (970,865 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 20,271 | | | | 103,802 | | | | 284,815 | | | | 196,459 | | | | 75,195 | | | | 60,517 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | 23,062 | |
| | (22,701 | ) | | | (110,605 | ) | | | (246,488 | ) | | | (211,558 | ) | | | (94,844 | ) | | | (71,475 | ) |
| | (11,358 | ) | | | (1,997,335 | ) | | | (10,177 | ) | | | 130,215 | | | | (167,278 | ) | | | 149,511 | |
See accompanying notes to the financial statements.
214 :: Statements of Changes in Net Assets :: For the Periods Indicated
| | | Bull ProFund | | | Communication Services
UltraSector ProFund | |
| | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | |
| FROM INVESTMENT ACTIVITIES: | | | | | | | | | | | | | | | | |
| OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income (loss) | | $ | 62,632 | | | $ | (321,043 | ) | | $ | (3,862 | ) | | $ | (85,064 | ) |
| Net realized gains (losses) on investments | | | 22,570 | | | | 9,484,385 | | | | (466,543 | ) | | | (2,271,704 | ) |
| Change in net unrealized appreciation/depreciation on investments | | | (2,130,010 | ) | | | (13,081,695 | ) | | | 30,140 | | | | (2,139,970 | ) |
| Change in net assets resulting from operations | | | (2,044,808 | ) | | | (3,918,353 | ) | | | (440,265 | ) | | | (4,496,738 | ) |
| DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions | | | | | | | | | | | | | | | | |
| Investor Class | | | (324,756 | ) | | | (4,111,749 | ) | | | — | | | | (66,813 | )(a) |
| Service Class | | | (45,933 | ) | | | (640,420 | ) | | | — | | | | (2,126 | )(a) |
| Change in net assets resulting from distributions | | | (370,689 | ) | | | (4,752,169 | ) | | | — | | | | (68,939 | ) |
| Change in net assets resulting from capital transactions | | | (5,619,658 | ) | | | (10,704,995 | ) | | | (189,576 | ) | | | (2,237,673 | ) |
| Change in net assets | | | (8,035,155 | ) | | | (19,375,517 | ) | | | (629,841 | ) | | | (6,803,350 | ) |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of period | | | 43,836,704 | | | | 63,212,221 | | | | 4,728,891 | | | | 11,532,241 | |
| End of period | | $ | 35,801,549 | | | $ | 43,836,704 | | | $ | 4,099,050 | | | $ | 4,728,891 | |
| CAPITAL TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | $ | 191,707,980 | | | $ | 435,706,892 | | | $ | 7,429,095 | | | $ | 21,709,308 | |
| Distributions reinvested | | | 313,091 | | | | 4,061,168 | | | | — | | | | 66,334 | |
| Value of shares redeemed | | | (192,014,258 | ) | | | (455,252,220 | ) | | | (7,632,874 | ) | | | (24,021,105 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | | 66,684,620 | | | | 139,151,281 | | | | 2,141,216 | | | | 1,228,263 | |
| Distributions reinvested | | | 45,913 | | | | 640,163 | | | | — | | | | 2,126 | |
| Value of shares redeemed | | | (72,357,004 | ) | | | (135,012,279 | ) | | | (2,127,013 | ) | | | (1,222,599 | ) |
| Change in net assets resulting from capital transactions | | $ | (5,619,658 | ) | | $ | (10,704,995 | ) | | $ | (189,576 | ) | | $ | (2,237,673 | ) |
| SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Issued | | | 3,828,013 | | | | 7,578,805 | | | | 88,399 | | | | 163,020 | |
| Reinvested | | | 6,470 | | | | 69,694 | | | | — | | | | 433 | |
| Redeemed | | | (3,851,063 | ) | | | (7,926,897 | ) | | | (92,379 | ) | | | (179,505 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Issued | | | 1,713,322 | | | | 3,135,445 | | | | 33,154 | | | | 11,379 | |
| Reinvested | | | 1,229 | | | | 13,954 | | | | — | | | | 17 | |
| Redeemed | | | (1,866,169 | ) | | | (3,033,398 | ) | | | (33,021 | ) | | | (11,449 | ) |
| Change in shares | | | (168,198 | ) | | | (162,397 | ) | | | (3,847 | ) | | | (16,105 | ) |
Amounts designated as " – " are $0 or have been rounded to $0.
| (a) | Subsequent to the issuance of the July 31, 2022 financial statements, $6,916 and $220 of the amounts distributed for Investor class and Service class, respectively, were determined to be a return of capital. |
| * | As described in Note 11, effective March 17, 2023, this ProFund's name changed due to a change to its underlying benchmark index. |
See accompanying notes to the financial statements.
For the Periods Indicated :: Statements of Changes in Net Assets :: 215
Consumer Discretionary
UltraSector ProFund* | | | Consumer Staples
UltraSector ProFund* | | | Energy UltraSector ProFund* | |
Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | |
| $ | (25,814 | ) | | $ | (426,382 | ) | | $ | 10,443 | | | $ | (41,128 | ) | | $ | 583,676 | | | $ | 577,339 | |
| | 511,769 | | | | (4,545,460 | ) | | | (177,787 | ) | | | (526,457 | ) | | | 4,489,979 | | | | 7,460,614 | |
| | (1,269,226 | ) | | | (12,029,542 | ) | | | (401,452 | ) | | | (640,065 | ) | | | 2,485,141 | | | | 13,388,753 | |
| | (783,271 | ) | | | (17,001,384 | ) | | | (568,796 | ) | | | (1,207,650 | ) | | | 7,558,796 | | | | 21,426,706 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | — | | | | (5,338,495 | ) | | | — | | | | (450,168 | ) | | | (1,360,935 | ) | | | (414,015 | ) |
| | — | | | | (112,301 | ) | | | — | | | | (53,182 | ) | | | (44,061 | ) | | | (13,283 | ) |
| | — | | | | (5,450,796 | ) | | | — | | | | (503,350 | ) | | | (1,404,996 | ) | | | (427,298 | ) |
| | (1,713,217 | ) | | | (24,303,568 | ) | | | 238,347 | | | | 526,052 | | | | 3,697,030 | | | | (7,108,958 | ) |
| | (2,496,488 | ) | | | (46,755,748 | ) | | | (330,449 | ) | | | (1,184,948 | ) | | | 9,850,830 | | | | 13,890,450 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 31,125,046 | | | | 77,880,794 | | | | 4,206,132 | | | | 5,391,080 | | | | 45,038,660 | | | | 31,148,210 | |
| $ | 28,628,558 | | | $ | 31,125,046 | | | $ | 3,875,683 | | | $ | 4,206,132 | | | $ | 54,889,490 | | | $ | 45,038,660 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 7,010,468 | | | $ | 31,412,863 | | | $ | 12,533,416 | | | $ | 32,107,879 | | | $ | 177,724,745 | | | $ | 188,690,403 | |
| | — | | | | 5,261,674 | | | | — | | | | 448,589 | | | | 1,279,436 | | | | 386,402 | |
| | (8,624,574 | ) | | | (60,440,624 | ) | | | (12,235,519 | ) | | | (31,947,299 | ) | | | (175,076,732 | ) | | | (195,583,169 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 812,541 | | | | 990,175 | | | | 599,765 | | | | 2,058,523 | | | | 5,185,911 | | | | 13,136,042 | |
| | — | | | | 112,301 | | | | — | | | | 53,182 | | | | 43,879 | | | | 13,258 | |
| | (911,652 | ) | | | (1,639,957 | ) | | | (659,315 | ) | | | (2,194,822 | ) | | | (5,460,209 | ) | | | (13,751,894 | ) |
| $ | (1,713,217 | ) | | $ | (24,303,568 | ) | | $ | 238,347 | | | $ | 526,052 | | | $ | 3,697,030 | | | $ | (7,108,958 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 160,938 | | | | 466,553 | | | | 173,134 | | | | 344,112 | | | | 3,961,662 | | | | 6,281,182 | |
| | — | | | | 77,298 | | | | — | | | | 4,541 | | | | 29,985 | | | | 16,727 | |
| | (200,766 | ) | | | (926,679 | ) | | | (168,495 | ) | | | (354,919 | ) | | | (3,942,967 | ) | | | (6,718,207 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 24,725 | | | | 25,943 | | | | 9,153 | | | | 25,145 | | | | 149,722 | | | | 479,881 | |
| | — | | | | 2,014 | | | | — | | | | 611 | | | | 1,217 | | | | 671 | |
| | (27,158 | ) | | | (37,670 | ) | | | (10,087 | ) | | | (27,848 | ) | | | (156,360 | ) | | | (494,893 | ) |
| | (42,261 | ) | | | (392,541 | ) | | | 3,705 | | | | (8,358 | ) | | | 43,259 | | | | (434,639 | ) |
See accompanying notes to the financial statements.
216 :: Statements of Changes in Net Assets :: For the Periods Indicated
| | | Europe 30 ProFund | | | Falling U.S. Dollar ProFund | |
| | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | |
| FROM INVESTMENT ACTIVITIES: | | | | | | | | | | | | | | | | |
| OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income (loss) | | $ | 25,915 | | | $ | 63,503 | | | $ | 13,393 | | | $ | (16,196 | ) |
| Net realized gains (losses) on investments | | | (40,802 | ) | | | (511,767 | ) | | | 88,677 | | | | (159,080 | ) |
| Change in net unrealized appreciation/depreciation on investments | | | 50,456 | | | | (428,748 | ) | | | 21,081 | | | | 2,570 | |
| Change in net assets resulting from operations | | | 35,569 | | | | (877,012 | ) | | | 123,151 | | | | (172,706 | ) |
| DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions | | | | | | | | | | | | | | | | |
| Investor Class | | | (39,561 | ) | | | (31,302 | ) | | | — | | | | — | |
| Service Class | | | (8,775 | ) | | | (1,712 | ) | | | — | | | | — | |
| Change in net assets resulting from distributions | | | (48,336 | ) | | | (33,014 | ) | | | — | | | | — | |
| Change in net assets resulting from capital transactions | | | (2,099,251 | ) | | | 2,234,976 | | | | 2,214,505 | | | | (316,417 | ) |
| Change in net assets | | | (2,112,018 | ) | | | 1,324,950 | | | | 2,337,656 | | | | (489,123 | ) |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of period | | | 4,726,911 | | | | 3,401,961 | | | | 753,105 | | | | 1,242,228 | |
| End of period | | $ | 2,614,893 | | | $ | 4,726,911 | | | $ | 3,090,761 | | | $ | 753,105 | |
| CAPITAL TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | $ | 7,962,109 | | | $ | 37,081,631 | | | $ | 7,679,165 | | | $ | 4,681,183 | |
| Distributions reinvested | | | 39,466 | | | | 28,658 | | | | — | | | | — | |
| Value of shares redeemed | | | (10,559,572 | ) | | | (34,942,952 | ) | | | (5,486,058 | ) | | | (4,998,579 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | | 2,616,357 | | | | 2,814,803 | | | | 514,314 | | | | 2,522 | |
| Distributions reinvested | | | 8,775 | | | | 1,712 | | | | — | | | | — | |
| Value of shares redeemed | | | (2,166,386 | ) | | | (2,748,876 | ) | | | (492,916 | ) | | | (1,543 | ) |
| Change in net assets resulting from capital transactions | | $ | (2,099,251 | ) | | $ | 2,234,976 | | | $ | 2,214,505 | | | $ | (316,417 | ) |
| SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Issued | | | 618,764 | | | | 2,656,136 | | | | 566,706 | | | | 310,415 | |
| Reinvested | | | 3,064 | | | | 2,086 | | | | — | | | | — | |
| Redeemed | | | (828,583 | ) | | | (2,536,774 | ) | | | (406,394 | ) | | | (332,502 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Issued | | | 188,892 | | | | 184,965 | | | | 42,462 | | | | 185 | |
| Reinvested | | | 629 | | | | 114 | | | | — | | | | — | |
| Redeemed | | | (157,443 | ) | | | (185,719 | ) | | | (40,744 | ) | | | (108 | ) |
| Change in shares | | | (174,677 | ) | | | 120,808 | | | | 162,030 | | | | (22,010 | ) |
Amounts designated as " – " are $0 or have been rounded to $0.
| (a) | Subsequent to the issuance of the July 31, 2022 financial statements, $1,067 and $73 of the amounts distributed for Investor class and Service class, respectively, were determined to be a return of capital. |
| (b) | Subsequent to the issuance of the July 31, 2022 financial statements, $37 and $2 of the amounts distributed for Investor class and Service class were determined to be a return of capital. |
See accompanying notes to the financial statements.
For the Periods Indicated :: Statements of Changes in Net Assets :: 217
| Financials UltraSector ProFund | | | Health Care UltraSector ProFund | | | Industrials UltraSector ProFund | |
Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | |
| $ | 6,912 | | | $ | (56,960 | ) | | $ | 8,093 | | | $ | (129,889 | ) | | $ | 2,666 | | | $ | (79,723 | ) |
| | 181,242 | | | | 17,388 | | | | 542,676 | | | | (2,466,867 | ) | | | 100,936 | | | | 263,254 | |
| | 133,255 | | | | (985,520 | ) | | | (864,710 | ) | | | (760,078 | ) | | | 13,000 | | | | (2,046,399 | ) |
| | 321,409 | | | | (1,025,092 | ) | | | (313,941 | ) | | | (3,356,834 | ) | | | 116,602 | | | | (1,862,868 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | — | | | | (822,915 | )(a) | | | — | | | | — | | | | — | | | | (417,972 | )(b) |
| | — | | | | (56,266 | )(a) | | | — | | | | — | | | | — | | | | (21,331 | )(b) |
| | — | | | | (879,181 | ) | | | — | | | | — | | | | — | | | | (439,303 | ) |
| | (508,995 | ) | | | (4,524,367 | ) | | | 117,025 | | | | (20,903,675 | ) | | | 279,877 | | | | (13,834,107 | ) |
| | (187,586 | ) | | | (6,428,640 | ) | | | (196,916 | ) | | | (24,260,509 | ) | | | 396,479 | | | | (16,136,278 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 5,746,238 | | | | 12,174,878 | | | | 17,705,958 | | | | 41,966,467 | | | | 3,629,799 | | | | 19,766,077 | |
| $ | 5,558,652 | | | $ | 5,746,238 | | | $ | 17,509,042 | | | $ | 17,705,958 | | | $ | 4,026,278 | | | $ | 3,629,799 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 7,797,104 | | | $ | 67,906,088 | | | $ | 23,737,503 | | | $ | 70,899,826 | | | $ | 5,895,208 | | | $ | 27,401,808 | |
| | — | | | | 802,425 | | | | — | | | | — | | | | — | | | | 416,218 | |
| | (8,225,267 | ) | | | (73,248,031 | ) | | | (23,619,700 | ) | | | (91,747,574 | ) | | | (5,617,489 | ) | | | (41,632,290 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 1,071,809 | | | | 2,702,416 | | | | 2,193,061 | | | | 2,583,207 | | | | 570,557 | | | | 800,751 | |
| | — | | | | 56,266 | | | | — | | | | — | | | | — | | | | 21,331 | |
| | (1,152,641 | ) | | | (2,743,531 | ) | | | (2,193,839 | ) | | | (2,639,134 | ) | | | (568,399 | ) | | | (841,925 | ) |
| $ | (508,995 | ) | | $ | (4,524,367 | ) | | $ | 117,025 | | | $ | (20,903,675 | ) | | $ | 279,877 | | | $ | (13,834,107 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 300,120 | | | | 2,008,437 | | | | 241,357 | | | | 670,839 | | | | 129,879 | | | | 469,698 | |
| | — | | | | 24,554 | | | | — | | | | — | | | | — | | | | 7,223 | |
| | (317,343 | ) | | | (2,188,184 | ) | | | (242,290 | ) | | | (888,623 | ) | | | (124,132 | ) | | | (722,499 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 52,066 | | | | 99,887 | | | | 28,125 | | | | 31,502 | | | | 15,144 | | | | 16,174 | |
| | — | | | | 2,082 | | | | — | | | | — | | | | — | | | | 437 | |
| | (55,863 | ) | | | (102,110 | ) | | | (28,254 | ) | | | (32,198 | ) | | | (15,077 | ) | | | (17,338 | ) |
| | (21,020 | ) | | | (155,334 | ) | | | (1,062 | ) | | | (218,480 | ) | | | 5,814 | | | | (246,305 | ) |
See accompanying notes to the financial statements.
218 :: Statements of Changes in Net Assets :: For the Periods Indicated
| | | Internet UltraSector ProFund | | | Large-Cap Growth ProFund | |
| | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | |
| FROM INVESTMENT ACTIVITIES: | | | | | | | | | | | | | | | | |
| OPERATIONS: | | | | | | | | | | | | | | | | |
| Net investment income (loss) | | $ | (257,492 | ) | | $ | (2,112,005 | ) | | $ | (43,556 | ) | | $ | (217,818 | ) |
| Net realized gains (losses) on investments | | | (975,597 | ) | | | (45,100,341 | ) | | | 2,230,844 | | | | 853,623 | |
| Change in net unrealized appreciation/depreciation on investments | | | (3,367,053 | ) | | | (74,447,572 | ) | | | (3,264,155 | ) | | | (4,926,044 | ) |
| Change in net assets resulting from operations | | | (4,600,142 | ) | | | (121,659,918 | ) | | | (1,076,867 | ) | | | (4,290,239 | ) |
| DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions | | | | | | | | | | | | | | | | |
| Investor Class | | | — | | | | (28,829,556 | ) | | | (151,026 | ) | | | (278,284 | ) |
| Service Class | | | — | | | | (1,913,919 | ) | | | (31,903 | ) | | | (28,411 | ) |
| Change in net assets resulting from distributions | | | — | | | | (30,743,475 | ) | | | (182,929 | ) | | | (306,695 | ) |
| Change in net assets resulting from capital transactions | | | (5,053,244 | ) | | | (6,097,823 | ) | | | (1,557,766 | ) | | | (15,996,675 | ) |
| Change in net assets | | | (9,653,386 | ) | | | (158,501,216 | ) | | | (2,817,562 | ) | | | (20,593,609 | ) |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of period | | | 80,404,449 | | | | 238,905,665 | | | | 12,282,160 | | | | 32,875,769 | |
| End of period | | $ | 70,751,063 | | | $ | 80,404,449 | | | $ | 9,464,598 | | | $ | 12,282,160 | |
| CAPITAL TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | $ | 23,873,059 | | | $ | 47,008,528 | | | $ | 5,634,083 | | | $ | 215,459,913 | |
| Distributions reinvested | | | — | | | | 27,942,720 | | | | 150,495 | | | | 277,750 | |
| Value of shares redeemed | | | (28,603,992 | ) | | | (78,094,789 | ) | | | (7,581,411 | ) | | | (231,726,840 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | | 1,635,754 | | | | 3,434,689 | | | | 319,339 | | | | 977,922 | |
| Distributions reinvested | | | — | | | | 1,913,919 | | | | 31,903 | | | | 28,411 | |
| Value of shares redeemed | | | (1,958,065 | ) | | | (8,302,890 | ) | | | (112,175 | ) | | | (1,013,831 | ) |
| Change in net assets resulting from capital transactions | | $ | (5,053,244 | ) | | $ | (6,097,823 | ) | | $ | (1,557,766 | ) | | $ | (15,996,675 | ) |
| SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Issued | | | 934,637 | | | | 1,033,179 | | | | 46,676 | | | | 1,496,142 | |
| Reinvested | | | — | | | | 458,905 | | | | 1,381 | | | | 1,741 | |
| Redeemed | | | (1,140,609 | ) | | | (1,624,493 | ) | | | (62,600 | ) | | | (1,627,412 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Issued | | | 99,489 | | | | 129,277 | | | | 3,618 | | | | 8,190 | |
| Reinvested | | | — | | | | 47,896 | | | | 370 | | | | 222 | |
| Redeemed | | | (119,950 | ) | | | (232,375 | ) | | | (1,248 | ) | | | (8,872 | ) |
| Change in shares | | | (226,433 | ) | | | (187,611 | ) | | | (11,803 | ) | | | (129,989 | ) |
Amounts designated as " – " are $0 or have been rounded to $0.
| * | As described in Note 11, effective March 17, 2023, this ProFund's name changed due to a change to its underlying benchmark index. |
See accompanying notes to the financial statements.
For the Periods Indicated :: Statements of Changes in Net Assets :: 219
| Large-Cap Value ProFund | | | Materials UltraSector ProFund* | | | Mid-Cap Growth ProFund | |
Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | |
| $ | 12,104 | | | $ | 46,787 | | | $ | 8,025 | | | $ | (28,724 | ) | | $ | (14,807 | ) | | $ | (52,714 | ) |
| | 1,416,421 | | | | (1,499,883 | ) | | | 575,646 | | | | (1,565,178 | ) | | | (156,493 | ) | | | 761,142 | |
| | (286,111 | ) | | | 161,787 | | | | 216,403 | | | | (669,324 | ) | | | 104,002 | | | | (1,262,045 | ) |
| | 1,142,414 | | | | (1,291,309 | ) | | | 800,074 | | | | (2,263,226 | ) | | | (67,298 | ) | | | (553,617 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | (47,656 | ) | | | (54,514 | ) | | | — | | | | — | | | | (85,347 | ) | | | (754,907 | ) |
| | — | | | | — | | | | — | | | | — | | | | (20,558 | ) | | | (195,807 | ) |
| | (47,656 | ) | | | (54,514 | ) | | | — | | | | — | | | | (105,905 | ) | | | (950,714 | ) |
| | (9,460,750 | ) | | | 15,135,985 | | | | 131,816 | | | | (4,266,488 | ) | | | 407,599 | | | | 232,604 | |
| | (8,365,992 | ) | | | 13,790,162 | | | | 931,890 | | | | (6,529,714 | ) | | | 234,396 | | | | (1,271,727 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 19,979,520 | | | | 6,189,358 | | | | 5,162,207 | | | | 11,691,921 | | | | 3,229,505 | | | | 4,501,232 | |
| $ | 11,613,528 | | | $ | 19,979,520 | | | $ | 6,094,097 | | | $ | 5,162,207 | | | $ | 3,463,901 | | | $ | 3,229,505 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 65,860,231 | | | $ | 196,660,120 | | | $ | 6,954,638 | | | $ | 39,802,195 | | | $ | 9,080,441 | | | $ | 7,199,107 | |
| | 46,571 | | | | 53,624 | | | | — | | | | — | | | | 83,860 | | | | 734,376 | |
| | (76,058,233 | ) | | | (181,574,471 | ) | | | (6,823,677 | ) | | | (43,678,363 | ) | | | (8,775,331 | ) | | | (7,743,636 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 2,849,964 | | | | 2,690,642 | | | | 1,722,898 | | | | 3,050,725 | | | | 46,451 | | | | 93,641 | |
| | — | | | | — | | | | — | | | | — | | | | 20,558 | | | | 195,807 | |
| | (2,159,283 | ) | | | (2,693,930 | ) | | | (1,722,043 | ) | | | (3,441,045 | ) | | | (48,380 | ) | | | (246,691 | ) |
| $ | (9,460,750 | ) | | $ | 15,135,985 | | | $ | 131,816 | | | $ | (4,266,488 | ) | | $ | 407,599 | | | $ | 232,604 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 801,611 | | | | 2,295,124 | | | | 71,918 | | | | 377,838 | | | | 102,885 | | | | 66,311 | |
| | 563 | | | | 605 | | | | — | | | | — | | | | 1,037 | | | | 7,133 | |
| | (921,584 | ) | | | (2,126,135 | ) | | | (71,662 | ) | | | (432,985 | ) | | | (100,741 | ) | | | (71,821 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 40,415 | | | | 36,280 | | | | 20,266 | | | | 32,664 | | | | 732 | | | | 1,160 | |
| | — | | | | — | | | | — | | | | — | | | | 343 | | | | 2,512 | |
| | (30,300 | ) | | | (36,578 | ) | | | (20,326 | ) | | | (37,365 | ) | | | (786 | ) | | | (3,351 | ) |
| | (109,295 | ) | | | 169,296 | | | | 196 | | | | (59,848 | ) | | | 3,470 | | | | 1,944 | |
See accompanying notes to the financial statements.
220 :: Statements of Changes in Net Assets :: For the Periods Indicated
| | | Mid-Cap ProFund | | | Mid-Cap Value ProFund | |
| | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | |
| FROM INVESTMENT ACTIVITIES: |
| OPERATIONS: |
| Net investment income (loss) | | $ | 593 | | | $ | (58,056 | ) | | $ | 13,385 | | | $ | 10,992 | |
| Net realized gains (losses) on investments | | | (1,003,773 | ) | | | 400,144 | | | | 320,689 | | | | (127,566 | ) |
| Change in net unrealized appreciation/depreciation on investments | | | 875,648 | | | | (992,443 | ) | | | (511,535 | ) | | | 160,874 | |
| Change in net assets resulting from operations | | | (127,532 | ) | | | (650,355 | ) | | | (177,461 | ) | | | 44,300 | |
| DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions | | | | | | | | | | | | | | | | |
| Investor Class | | | — | | | | (195,168 | ) | | | — | | | | (42,506 | ) |
| Service Class | | | — | | | | (22,254 | ) | | | — | | | | (7,667 | ) |
| Change in net assets resulting from distributions | | | — | | | | (217,422 | ) | | | — | | | | (50,173 | ) |
| Change in net assets resulting from capital transactions | | | 9,664,274 | | | | (2,246,569 | ) | | | (9,306,278 | ) | | | 16,861,257 | |
| Change in net assets | | | 9,536,742 | | | | (3,114,346 | ) | | | (9,483,739 | ) | | | 16,855,384 | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of period | | | 3,900,289 | | | | 7,014,635 | | | | 22,360,282 | | | | 5,504,898 | |
| End of period | | $ | 13,437,031 | | | $ | 3,900,289 | | | $ | 12,876,543 | | | $ | 22,360,282 | |
| CAPITAL TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | $ | 22,787,514 | | | $ | 17,510,158 | | | $ | 35,113,034 | | | $ | 73,903,448 | |
| Distributions reinvested | | | — | | | | 120,731 | | | | — | | | | 42,417 | |
| Value of shares redeemed | | | (18,418,657 | ) | | | (19,947,769 | ) | | | (44,628,340 | ) | | | (57,086,904 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | | 5,331,929 | | | | 120,057 | | | | 2,497,648 | | | | 2,162,554 | |
| Distributions reinvested | | | — | | | | 22,254 | | | | — | | | | 7,667 | |
| Value of shares redeemed | | | (36,512 | ) | | | (72,000 | ) | | | (2,288,620 | ) | | | (2,167,925 | ) |
| Change in net assets resulting from capital transactions | | $ | 9,664,274 | | | $ | (2,246,569 | ) | | $ | (9,306,278 | ) | | $ | 16,861,257 | |
| SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Issued | | | 225,495 | | | | 154,475 | | | | 373,216 | | | | 784,052 | |
| Reinvested | | | — | | | | 1,072 | | | | — | | | | 433 | |
| Redeemed | | | (192,344 | ) | | | (180,045 | ) | | | (488,860 | ) | | | (602,063 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Issued | | | 68,698 | | | | 1,407 | | | | 33,749 | | | | 28,513 | |
| Reinvested | | | — | | | | 248 | | | | — | | | | 98 | |
| Redeemed | | | (461 | ) | | | (811 | ) | | | (31,081 | ) | | | (28,653 | ) |
| Change in shares | | | 101,388 | | | | (23,654 | ) | | | (112,976 | ) | | | 182,380 | |
Amounts designated as " – " are $0 or have been rounded to $0.
| * | As described in Note 11, effective March 17, 2023, this ProFund's name changed due to a change to its underlying benchmark index. |
See accompanying notes to the financial statements.
For the Periods Indicated :: Statements of Changes in Net Assets :: 221
| Nasdaq-100 ProFund | | | Oil & Gas Equipment & Services
UltraSector ProFund* | | | Pharmaceuticals UltraSector ProFund | |
Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | |
| | | | | | | | | | | | | | | | | |
| |
| |
| $ | 380,182 | | | $ | (1,287,510 | ) | | $ | (16,132 | ) | | $ | (160,301 | ) | | $ | 9,537 | | | $ | (14,120 | ) |
| | (4,927,310 | ) | | | 7,131,245 | | | | 5,143,549 | | | | (466,312 | ) | | | (441,830 | ) | | | 107,867 | |
| | (6,878,432 | ) | | | (19,248,560 | ) | | | 3,791,961 | | | | 1,398,731 | | | | (142,172 | ) | | | 165,151 | |
| | (11,425,560 | ) | | | (13,404,825 | ) | | | 8,919,378 | | | | 772,118 | | | | (574,465 | ) | | | 258,898 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | — | | | | (3,999,176 | ) | | | — | | | | — | | | | — | | | | (170,180 | ) |
| | — | | | | (342,038 | ) | | | — | | | | — | | | | — | | | | (16,100 | ) |
| | — | | | | (4,341,214 | ) | | | — | | | | — | | | | — | | | | (186,280 | ) |
| | 69,604,798 | | | | (87,693,213 | ) | | | (2,655,792 | ) | | | (2,355,793 | ) | | | 894,403 | | | | (235,100 | ) |
| | 58,179,238 | | | | (105,439,252 | ) | | | 6,263,586 | | | | (1,583,675 | ) | | | 319,938 | | | | (162,482 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 55,345,986 | | | | 160,785,238 | | | | 14,266,824 | | | | 15,850,499 | | | | 4,116,888 | | | | 4,279,370 | |
| $ | 113,525,224 | | | $ | 55,345,986 | | | $ | 20,530,410 | | | $ | 14,266,824 | | | $ | 4,436,826 | | | $ | 4,116,888 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 1,459,091,225 | | | $ | 3,463,415,263 | | | $ | 45,671,576 | | | $ | 101,297,538 | | | $ | 12,917,144 | | | $ | 25,111,931 | |
| | — | | | | 3,780,484 | | | | — | | | | — | | | | — | | | | 170,163 | |
| | (1,388,804,564 | ) | | | (3,556,167,221 | ) | | | (45,150,041 | ) | | | (105,344,675 | ) | | | (12,017,927 | ) | | | (25,565,704 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 47,022,314 | | | | 53,199,888 | | | | 20,446,687 | | | | 24,372,537 | | | | 1,237,319 | | | | 2,971,620 | |
| | — | | | | 342,038 | | | | — | | | | — | | | | — | | | | 16,100 | |
| | (47,704,177 | ) | | | (52,263,665 | ) | | | (23,624,014 | ) | | | (22,681,193 | ) | | | (1,242,133 | ) | | | (2,939,210 | ) |
| $ | 69,604,798 | | | $ | (87,693,213 | ) | | $ | (2,655,792 | ) | | $ | (2,355,793 | ) | | $ | 894,403 | | | $ | (235,100 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 14,014,279 | | | | 27,689,914 | | | | 513,133 | | | | 1,351,642 | | | | 477,987 | | | | 854,563 | |
| | — | | | | 25,728 | | | | — | | | | — | | | | — | | | | 5,625 | |
| | (13,424,168 | ) | | | (28,396,858 | ) | | | (514,842 | ) | | | (1,430,929 | ) | | | (459,812 | ) | | | (857,151 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 600,789 | | | | 563,395 | | | | 268,998 | | | | 335,521 | | | | 56,177 | | | | 119,145 | |
| | — | | | | 2,947 | | | | — | | | | — | | | | — | | | | 632 | |
| | (608,598 | ) | | | (556,568 | ) | | | (281,373 | ) | | | (328,597 | ) | | | (56,376 | ) | | | (120,029 | ) |
| | 582,302 | | | | (671,442 | ) | | | (14,084 | ) | | | (72,363 | ) | | | 17,976 | | | | 2,785 | |
See accompanying notes to the financial statements.
222 :: Statements of Changes in Net Assets :: For the Periods Indicated
| | | Precious Metals
UltraSector ProFund | | | Real Estate UltraSector ProFund | |
| | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | |
| FROM INVESTMENT ACTIVITIES: |
| OPERATIONS: |
| Net investment income (loss) | | $ | 107,917 | | | $ | 72,320 | | | $ | 2,531 | | | $ | (198,046 | ) |
| Net realized gains (losses) on investments | | | 4,468,202 | | | | (4,277,062 | ) | | | (382,159 | ) | | | 252,022 | |
| Change in net unrealized appreciation/depreciation on investments | | | 2,244,387 | | | | (7,386,293 | ) | | | (457,973 | ) | | | (938,380 | ) |
| Change in net assets resulting from operations | | | 6,820,506 | | | | (11,591,035 | ) | | | (837,601 | ) | | | (884,404 | ) |
| DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions | | | | | | | | | | | | | | | | |
| Investor Class | | | (654 | ) | | | — | | | | (167,419 | ) | | | (3,139,295 | ) |
| Service Class | | | — | | | | — | | | | (9,906 | ) | | | (132,185 | ) |
| Change in net assets resulting from distributions | | | (654 | ) | | | — | | | | (177,325 | ) | | | (3,271,480 | ) |
| Change in net assets resulting from capital transactions | | | (1,834,042 | ) | | | (6,178,391 | ) | | | (877,271 | ) | | | (24,357,633 | ) |
| Change in net assets | | | 4,985,810 | | | | (17,769,426 | ) | | | (1,892,197 | ) | | | (28,513,517 | ) |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of period | | | 19,735,962 | | | | 37,505,388 | | | | 7,327,161 | | | | 35,840,678 | |
| End of period | | $ | 24,721,772 | | | $ | 19,735,962 | | | $ | 5,434,964 | | | $ | 7,327,161 | |
| CAPITAL TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | $ | 109,306,013 | | | $ | 204,035,657 | | | $ | 8,284,495 | | | $ | 199,456,267 | |
| Distributions reinvested | | | 647 | | | | — | | | | 158,258 | | | | 3,097,248 | |
| Value of shares redeemed | | | (111,084,114 | ) | | | (210,692,141 | ) | | | (9,190,355 | ) | | | (226,656,434 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | | 4,092,569 | | | | 8,733,110 | | | | 505,091 | | | | 3,291,269 | |
| Distributions reinvested | | | — | | | | — | | | | 9,906 | | | | 132,152 | |
| Value of shares redeemed | | | (4,149,157 | ) | | | (8,255,017 | ) | | | (644,666 | ) | | | (3,678,135 | ) |
| Change in net assets resulting from capital transactions | | $ | (1,834,042 | ) | | $ | (6,178,391 | ) | | $ | (877,271 | ) | | $ | (24,357,633 | ) |
| SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Issued | | | 2,633,263 | | | | 3,532,959 | | | | 197,690 | | | | 3,205,846 | |
| Reinvested | | | 14 | | | | — | | | | 4,270 | | | | 51,057 | |
| Redeemed | | | (2,653,221 | ) | | | (3,620,692 | ) | | | (219,053 | ) | | | (3,675,854 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Issued | | | 110,779 | | | | 170,642 | | | | 12,838 | | | | 60,570 | |
| Reinvested | | | — | | | | — | | | | 287 | | | | 2,343 | |
| Redeemed | | | (113,075 | ) | | | (164,414 | ) | | | (15,991 | ) | | | (67,790 | ) |
| Change in shares | | | (22,240 | ) | | | (81,505 | ) | | | (19,959 | ) | | | (423,828 | ) |
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
| Rising Rates Opportunity ProFund | | | Rising Rates Opportunity 10 ProFund | | | Rising U.S. Dollar ProFund | |
Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| $ | 267,821 | | | $ | (244,631 | ) | | $ | 40,890 | | | $ | (48,707 | ) | | $ | 200,493 | | | $ | (257,726 | ) |
| | 5,574,638 | | | | 4,136,521 | | | | 171,000 | | | | 444,055 | | | | (1,582,543 | ) | | | 2,442,866 | |
| | 438,131 | | | | (370,622 | ) | | | 109,571 | | | | (108,452 | ) | | | 359,844 | | | | (569,212 | ) |
| | 6,280,590 | | | | 3,521,268 | | | | 321,461 | | | | 286,896 | | | | (1,022,206 | ) | | | 1,615,928 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | — | | | | — | | | | — | | | | — | | | | (605,829 | ) | | | — | |
| | — | | | | — | | | | — | | | | — | | | | (2,557 | ) | | | — | |
| | — | | | | — | | | | — | | | | — | | | | (608,386 | ) | | | — | |
| | (35,045,109 | ) | | | 32,754,027 | | | | (935,302 | ) | | | 1,454,648 | | | | (27,211,840 | ) | | | 38,944,514 | |
| | (28,764,519 | ) | | | 36,275,295 | | | | (613,841 | ) | | | 1,741,544 | | | | (28,842,432 | ) | | | 40,560,442 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 46,046,984 | | | | 9,771,689 | | | | 3,694,594 | | | | 1,953,050 | | | | 46,876,876 | | | | 6,316,434 | |
| $ | 17,282,465 | | | $ | 46,046,984 | | | $ | 3,080,753 | | | $ | 3,694,594 | | | $ | 18,034,444 | | | $ | 46,876,876 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 123,024,319 | | | $ | 245,857,183 | | | $ | 12,965,471 | | | $ | 12,358,003 | | | $ | 21,273,055 | | | $ | 94,416,418 | |
| | — | | | | — | | | | — | | | | — | | | | 601,997 | | | | — | |
| | (159,286,445 | ) | | | (213,415,352 | ) | | | (13,835,264 | ) | | | (11,558,312 | ) | | | (48,971,161 | ) | | | (55,603,921 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 9,855,605 | | | | 5,113,630 | | | | 660,783 | | | | 1,333,246 | | | | 2,167,571 | | | | 2,883,977 | |
| | — | | | | — | | | | — | | | | — | | | | 2,519 | | | | — | |
| | (8,638,588 | ) | | | (4,801,434 | ) | | | (726,292 | ) | | | (678,289 | ) | | | (2,285,821 | ) | | | (2,751,960 | ) |
| $ | (35,045,109 | ) | | $ | 32,754,027 | | | $ | (935,302 | ) | | $ | 1,454,648 | | | $ | (27,211,840 | ) | | $ | 38,944,514 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 3,395,458 | | | | 8,709,150 | | | | 883,700 | | | | 931,791 | | | | 668,971 | | | | 3,178,922 | |
| | — | | | | — | | | | — | | | | — | | | | 20,297 | | | | — | |
| | (4,407,459 | ) | | | (7,641,952 | ) | | | (941,674 | ) | | | (862,453 | ) | | | (1,598,397 | ) | | | (1,886,060 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 305,424 | | | | 180,655 | | | | 51,445 | | | | 106,614 | | | | 78,891 | | | | 112,114 | |
| | — | | | | — | | | | — | | | | — | | | | 99 | | | | — | |
| | (267,815 | ) | | | (168,491 | ) | | | (55,000 | ) | | | (55,153 | ) | | | (83,628 | ) | | | (107,440 | ) |
| | (974,392 | ) | | | 1,079,362 | | | | (61,529 | ) | | | 120,799 | | | | (913,767 | ) | | | 1,297,536 | |
See accompanying notes to the financial statements.
224 :: Statements of Changes in Net Assets :: For the Periods Indicated
| | | Semiconductor
UltraSector ProFund | | | Short Energy ProFund* | |
| | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | |
| FROM INVESTMENT ACTIVITIES: |
| OPERATIONS: |
| Net investment income (loss) | | $ | 89,627 | | | $ | (602,942 | ) | | $ | 14,187 | | | $ | (18,466 | ) |
| Net realized gains (losses) on investments | | | 3,193,154 | | | | (19,937,542 | ) | | | (411,746 | ) | | | (432,529 | ) |
| Change in net unrealized appreciation/depreciation on investments | | | (8,709,255 | ) | | | (6,515,813 | ) | | | 211,085 | | | | (169,544 | ) |
| Change in net assets resulting from operations | | | (5,426,474 | ) | | | (27,056,297 | ) | | | (186,474 | ) | | | (620,539 | ) |
| DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions | | | | | | | | | | | | | | | | |
| Investor Class | | | — | | | | (5,771,185 | ) | | | — | | | | — | |
| Service Class | | | — | | | | (383,586 | ) | | | — | | | | — | |
| Change in net assets resulting from distributions | | | — | | | | (6,154,771 | ) | | | — | | | | — | |
| Change in net assets resulting from capital transactions | | | 532,081 | | | | 16,556,209 | | | | (697,447 | ) | | | 2,324,899 | |
| Change in net assets | | | (4,894,393 | ) | | | (16,654,859 | ) | | | (883,921 | ) | | | 1,704,360 | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of period | | | 68,566,397 | | | | 85,221,256 | | | | 2,147,147 | | | | 442,787 | |
| End of period | | $ | 63,672,004 | | | $ | 68,566,397 | | | $ | 1,263,226 | | | $ | 2,147,147 | |
| CAPITAL TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | $ | 70,939,164 | | | $ | 227,368,001 | | | $ | 19,164,698 | | | $ | 38,986,646 | |
| Distributions reinvested | | | — | | | | 5,744,467 | | | | — | | | | — | |
| Value of shares redeemed | | | (69,593,684 | ) | | | (217,121,980 | ) | | | (19,858,107 | ) | | | (36,653,630 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | | 1,738,113 | | | | 14,011,667 | | | | 573,595 | | | | 823,198 | |
| Distributions reinvested | | | — | | | | 379,701 | | | | — | | | | — | |
| Value of shares redeemed | | | (2,551,512 | ) | | | (13,825,647 | ) | | | (577,633 | ) | | | (831,315 | ) |
| Change in net assets resulting from capital transactions | | $ | 532,081 | | | $ | 16,556,209 | | | $ | (697,447 | ) | | $ | 2,324,899 | |
| SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Issued | | | 927,807 | | | | 1,826,208 | | | | 1,196,295 | | | | 1,646,654 | |
| Reinvested | | | — | | | | 37,011 | | | | — | | | | — | |
| Redeemed | | | (922,973 | ) | | | (1,847,392 | ) | | | (1,232,094 | ) | | | (1,537,892 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Issued | | | 33,495 | | | | 167,222 | | | | 39,073 | | | | 35,451 | |
| Reinvested | | | — | | | | 3,306 | | | | — | | | | — | |
| Redeemed | | | (47,960 | ) | | | (168,716 | ) | | | (39,604 | ) | | | (35,499 | ) |
| Change in shares | | | (9,631 | ) | | | 17,639 | | | | (36,330 | ) | | | 108,714 | |
Amounts designated as " – " are $0 or have been rounded to $0.
| (a) | As described in Note 11, share amounts have been adjusted for 1:5 reverse share split that occurred on March 13, 2023. |
| * | As described in Note 11, effective March 17, 2023, this ProFund's name changed due to a change to its underlying benchmark index. |
See accompanying notes to the financial statements.
For the Periods Indicated :: Statements of Changes in Net Assets :: 225
| Short Nasdaq-100 ProFund | | | Short Precious Metals ProFund | | | Short Real Estate ProFund | |
Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| $ | 193,251 | | | $ | (261,290 | ) | | $ | 33,954 | | | $ | (45,436 | ) | | $ | 14,629 | | | $ | (9,301 | ) |
| | (1,905,821 | ) | | | 2,237,013 | | | | (1,518,729 | ) | | | 1,287,502 | | | | (69,333 | ) | | | (7,575 | ) |
| | 2,239,925 | | | | (2,244,459 | ) | | | 233,674 | | | | (116,521 | ) | | | 54,492 | | | | (100,431 | ) |
| | 527,355 | | | | (268,736 | ) | | | (1,251,101 | ) | | | 1,125,545 | | | | (212 | ) | | | (117,307 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | (72,997,123 | ) | | | 78,431,341 | | | | 3,933,529 | | | | (1,195,010 | ) | | | (393,394 | ) | | | 1,477,009 | |
| | (72,469,768 | ) | | | 78,162,605 | | | | 2,682,428 | | | | (69,465 | ) | | | (393,606 | ) | | | 1,359,702 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 80,037,510 | | | | 1,874,905 | | | | 2,088,926 | | | | 2,158,391 | | | | 1,889,181 | | | | 529,479 | |
| $ | 7,567,742 | | | $ | 80,037,510 | | | $ | 4,771,354 | | | $ | 2,088,926 | | | $ | 1,495,575 | | | $ | 1,889,181 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 934,031,892 | | | $ | 2,387,770,240 | | | $ | 67,114,705 | | | $ | 94,308,665 | | | $ | 11,284,155 | | | $ | 12,265,248 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | (1,007,135,864 | ) | | | (2,309,519,120 | ) | | | (63,192,677 | ) | | | (95,498,386 | ) | | | (11,683,838 | ) | | | (10,788,221 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 3,889,920 | | | | 2,861,814 | | | | 527,130 | | | | 348,721 | | | | 95,682 | | | | 52 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | (3,783,071 | ) | | | (2,681,593 | ) | | | (515,629 | ) | | | (354,010 | ) | | | (89,393 | ) | | | (70 | ) |
| $ | (72,997,123 | ) | | $ | 78,431,341 | | | $ | 3,933,529 | | | $ | (1,195,010 | ) | | $ | (393,394 | ) | | $ | 1,477,009 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 11,520,411 | (a) | | | 32,616,578 | (a) | | | 4,105,329 | | | | 6,232,437 | | | | 1,220,313 | | | | 1,478,673 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | (12,505,483 | )(a) | | | (31,563,359 | )(a) | | | (3,867,538 | ) | | | (6,258,255 | ) | | | (1,278,182 | ) | | | (1,310,004 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 54,125 | (a) | | | 40,031 | (a) | | | 33,425 | | | | 23,584 | | | | 12,101 | | | | 7 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | (52,253 | )(a) | | | (38,060 | )(a) | | | (33,527 | ) | | | (23,588 | ) | | | (11,783 | ) | | | (10 | ) |
| | (983,200 | ) | | | 1,055,190 | | | | 237,689 | | | | (25,822 | ) | | | (57,551 | ) | | | 168,666 | |
See accompanying notes to the financial statements.
226 :: Statements of Changes in Net Assets :: For the Periods Indicated
| | | Short Small-Cap ProFund | | | Small-Cap Growth ProFund | |
| | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | |
| FROM INVESTMENT ACTIVITIES: |
| OPERATIONS: |
| Net investment income (loss) | | $ | 34,949 | | | $ | (67,280 | ) | | $ | (15,863 | ) | | $ | (64,260 | ) |
| Net realized gains (losses) on investments | | | 109,676 | | | | (1,121,763 | ) | | | 604,681 | | | | 972,387 | |
| Change in net unrealized appreciation/depreciation on investments | | | 15,350 | | | | (55,529 | ) | | | (675,141 | ) | | | (2,135,611 | ) |
| Change in net assets resulting from operations | | | 159,975 | | | | (1,244,572 | ) | | | (86,323 | ) | | | (1,227,484 | ) |
| DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions | | | | | | | | | | | | | | | | |
| Investor Class | | | — | | | | — | | | | (131,606 | ) | | | (474,548 | ) |
| Service Class | | | — | | | | — | | | | (20,814 | ) | | | (82,692 | ) |
| Change in net assets resulting from distributions | | | — | | | | — | | | | (152,420 | ) | | | (557,240 | ) |
| Change in net assets resulting from capital transactions | | | 263,071 | | | | 1,705,984 | | | | (6,255,342 | ) | | | 2,711,131 | |
| Change in net assets | | | 423,046 | | | | 461,412 | | | | (6,494,085 | ) | | | 926,407 | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of period | | | 1,573,885 | | | | 1,112,473 | | | | 10,821,501 | | | | 9,895,094 | |
| End of period | | $ | 1,996,931 | | | $ | 1,573,885 | | | $ | 4,327,416 | | | $ | 10,821,501 | |
| CAPITAL TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | $ | 59,497,239 | | | $ | 241,408,430 | | | $ | 5,149,473 | | | $ | 31,765,935 | |
| Distributions reinvested | | | — | | | | — | | | | 129,080 | | | | 471,116 | |
| Value of shares redeemed | | | (59,112,562 | ) | | | (239,845,757 | ) | | | (10,870,736 | ) | | | (30,129,975 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | | 355 | | | | 392,452 | | | | 34,980 | | | | 832,981 | |
| Distributions reinvested | | | — | | | | — | | | | 20,814 | | | | 82,692 | |
| Value of shares redeemed | | | (121,961 | ) | | | (249,141 | ) | | | (718,953 | ) | | | (311,618 | ) |
| Change in net assets resulting from capital transactions | | $ | 263,071 | | | $ | 1,705,984 | | | $ | (6,255,342 | ) | | $ | 2,711,131 | |
| SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Issued | | | 1,577,117 | (a) | | | 6,800,537 | (a) | | | 52,570 | | | | 316,193 | |
| Reinvested | | | — | | | | — | | | | 1,428 | | | | 4,002 | |
| Redeemed | | | (1,560,017 | )(a) | | | (6,793,791 | )(a) | | | (107,815 | ) | | | (298,244 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Issued | | | — | | | | 10,336 | (a) | | | 477 | | | | 10,390 | |
| Reinvested | | | — | | | | — | | | | 302 | | | | 902 | |
| Redeemed | | | (3,338 | )(a) | | | (6,405 | )(a) | | | (10,014 | ) | | | (3,962 | ) |
| Change in shares | | | 13,762 | | | | 10,677 | | | | (63,052 | ) | | | 29,281 | |
Amounts designated as " – " are $0 or have been rounded to $0.
| (a) | As described in Note 11, share amounts have been adjusted for 1:5 reverse share split that occurred on March 6, 2023. |
See accompanying notes to the financial statements.
For the Periods Indicated :: Statements of Changes in Net Assets :: 227
| Small-Cap ProFund | | | Small-Cap Value ProFund | | | Technology UltraSector ProFund | |
Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| $ | 10,830 | | | $ | (69,990 | ) | | $ | 2,593 | | | $ | (11,483 | ) | | $ | (74,253 | ) | | $ | (811,282 | ) |
| | (315,372 | ) | | | 599,577 | | | | 802,977 | | | | 602,889 | | | | 941,608 | | | | (6,894,101 | ) |
| | 112,300 | | | | (435,645 | ) | | | (724,743 | ) | | | (1,858,027 | ) | | | (7,887,629 | ) | | | (11,221,431 | ) |
| | (192,242 | ) | | | 93,942 | | | | 80,827 | | | | (1,266,621 | ) | | | (7,020,274 | ) | | | (18,926,814 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | — | | | | — | | | | (192,356 | ) | | | (23,714 | ) | | | — | | | | (6,765,946 | ) |
| | — | | | | — | | | | (12,798 | ) | | | — | | | | — | | | | (517,236 | ) |
| | — | | | | — | | | | (205,154 | ) | | | (23,714 | ) | | | — | | | | (7,283,182 | ) |
| | 313,653 | | | | (7,055,324 | ) | | | (1,641,789 | ) | | | (5,023,667 | ) | | | (4,192,112 | ) | | | (28,047,314 | ) |
| | 121,411 | | | | (6,961,382 | ) | | | (1,766,116 | ) | | | (6,314,002 | ) | | | (11,212,386 | ) | | | (54,257,310 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 2,946,848 | | | | 9,908,230 | | | | 9,231,620 | | | | 15,545,622 | | | | 47,580,466 | | | | 101,837,776 | |
| $ | 3,068,259 | | | $ | 2,946,848 | | | $ | 7,465,504 | | | $ | 9,231,620 | | | $ | 36,368,080 | | | $ | 47,580,466 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 101,769,228 | | | $ | 210,952,103 | | | $ | 26,795,196 | | | $ | 105,967,172 | | | $ | 25,982,238 | | | $ | 109,677,480 | |
| | — | | | | — | | | | 183,015 | | | | 23,629 | | | | — | | | | 6,663,004 | |
| | (101,452,917 | ) | | | (217,738,424 | ) | | | (28,683,407 | ) | | | (111,077,572 | ) | | | (29,960,138 | ) | | | (143,485,268 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 4,389 | | | | 188,543 | | | | 1,801,651 | | | | 1,912,961 | | | | 37,168,597 | | | | 87,140,768 | |
| | — | | | | — | | | | 12,798 | | | | — | | | | — | | | | 517,236 | |
| | (7,047 | ) | | | (457,546 | ) | | | (1,751,042 | ) | | | (1,849,857 | ) | | | (37,382,809 | ) | | | (88,560,534 | ) |
| $ | 313,653 | | | $ | (7,055,324 | ) | | $ | (1,641,789 | ) | | $ | (5,023,667 | ) | | $ | (4,192,112 | ) | | $ | (28,047,314 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 1,082,767 | | | | 1,939,029 | | | | 277,315 | | | | 1,008,282 | | | | 334,148 | | | | 919,390 | |
| | — | | | | — | | | | 1,991 | | | | 216 | | | | — | | | | 48,297 | |
| | (1,082,111 | ) | | | (1,991,209 | ) | | | (300,270 | ) | | | (1,065,382 | ) | | | (389,253 | ) | | | (1,243,696 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 57 | | | | 2,017 | | | | 23,484 | | | | 23,089 | | | | 579,944 | | | | 956,671 | |
| | — | | | | — | | | | 175 | | | | — | | | | — | | | | 4,683 | |
| | (93 | ) | | | (4,961 | ) | | | (22,871 | ) | | | (22,368 | ) | | | (581,654 | ) | | | (977,586 | ) |
| | 620 | | | | (55,124 | ) | | | (20,176 | ) | | | (56,163 | ) | | | (56,815 | ) | | | (292,241 | ) |
See accompanying notes to the financial statements.
228 :: Statements of Changes in Net Assets :: For the Periods Indicated
| | | Telecommunications
UltraSector ProFund+ | | | UltraBear ProFund | |
| | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | |
| FROM INVESTMENT ACTIVITIES: |
| OPERATIONS: |
| Net investment income (loss) | | $ | 5,326 | | | $ | 4,055 | | | $ | 111,368 | | | $ | (143,628 | ) |
| Net realized gains (losses) on investments | | | 116,190 | | | | (118,253 | ) | | | (930,460 | ) | | | 749,207 | |
| Change in net unrealized appreciation/depreciation on investments | | | (178,955 | ) | | | (94,650 | ) | | | 560,536 | | | | (578,030 | ) |
| Change in net assets resulting from operations | | | (57,439 | ) | | | (208,848 | ) | | | (258,556 | ) | | | 27,549 | |
| DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions | | | | | | | | | | | | | | | | |
| Investor Class | | | (3,748 | ) | | | (6,192 | ) | | | — | | | | — | |
| Service Class | | | — | | | | — | | | | — | | | | — | |
| Change in net assets resulting from distributions | | | (3,748 | ) | | | (6,192 | ) | | | — | | | | — | |
| Change in net assets resulting from capital transactions | | | (223,482 | ) | | | (138,674 | ) | | | 28,078 | | | | 5,720,851 | |
| Change in net assets | | | (284,669 | ) | | | (353,714 | ) | | | (230,478 | ) | | | 5,748,400 | |
| NET ASSETS: | | | | | | | | | | �� | | | | | | |
| Beginning of period | | | 820,700 | | | | 1,174,414 | | | | 11,200,267 | | | | 5,451,867 | |
| End of period | | $ | 536,031 | | | $ | 820,700 | | | $ | 10,969,789 | | | $ | 11,200,267 | |
| | | | | | | | | | | | | | | | | |
| CAPITAL TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | $ | 3,849,708 | | | $ | 9,555,952 | | | $ | 119,711,767 | | | $ | 212,449,582 | |
| Distributions reinvested | | | 3,705 | | | | 5,017 | | | | — | | | | — | |
| Value of shares redeemed | | | (4,080,690 | ) | | | (9,679,779 | ) | | | (119,607,728 | ) | | | (206,755,449 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | | 8,050 | | | | 1,022,917 | | | | 10,198,185 | | | | 958,273 | |
| Distributions reinvested | | | — | | | | — | | | | — | | | | — | |
| Value of shares redeemed | | | (4,255 | ) | | | (1,042,781 | ) | | | (10,274,146 | ) | | | (931,555 | ) |
| Change in net assets resulting from capital transactions | | $ | (223,482 | ) | | $ | (138,674 | ) | | $ | 28,078 | | | $ | 5,720,851 | |
| SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Issued | | | 206,213 | | | | 404,710 | | | | 5,406,421 | | | | 10,285,063 | |
| Reinvested | | | 201 | | | | 183 | | | | — | | | | — | |
| Redeemed | | | (218,437 | ) | | | (410,213 | ) | | | (5,405,550 | ) | | | (9,998,286 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Issued | | | 499 | | | | 44,319 | | | | 504,001 | | | | 49,056 | |
| Reinvested | | | — | | | | — | | | | — | | | | — | |
| Redeemed | | | (232 | ) | | | (45,562 | ) | | | (501,990 | ) | | | (49,237 | ) |
| Change in shares | | | (11,756 | ) | | | (6,563 | ) | | | 2,882 | | | | 286,596 | |
Amounts designated as " – " are $0 or have been rounded to $0.
| (a) | As described in Note 11, share amounts have been adjusted for 1:10 reverse share split that occurred on March 6, 2023. |
| + | As described in Note 11, the Telecommunications UltraSector ProFund liquidated on February 7, 2023. |
See accompanying notes to the financial statements.
For the Periods Indicated :: Statements of Changes in Net Assets :: 229
| UltraBull ProFund | | | UltraChina ProFund | | | UltraDow 30 ProFund | |
Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| $ | 258,966 | | | $ | (409,057 | ) | | $ | (101,321 | ) | | $ | (74,929 | ) | | $ | 110,728 | | | $ | (59,822 | ) |
| | (5,629,358 | ) | | | (12,984,531 | ) | | | 1,759,999 | | | | (18,052,569 | ) | | | 1,002,228 | | | | (4,529,289 | ) |
| | (2,270,642 | ) | | | (4,915,323 | ) | | | 3,555,149 | | | | (3,389,190 | ) | | | 719,060 | | | | (541,396 | ) |
| | (7,641,034 | ) | | | (18,308,911 | ) | | | 5,213,827 | | | | (21,516,688 | ) | | | 1,832,016 | | | | (5,130,507 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | (8,925,032 | ) | | | (7,409,540 | ) | | | — | | | | — | | | | — | | | | (2,463,674 | ) |
| | (218,038 | ) | | | (216,056 | ) | | | — | | | | — | | | | — | | | | (79,950 | ) |
| | (9,143,070 | ) | | | (7,625,596 | ) | | | — | | | | — | | | | — | | | | (2,543,624 | ) |
| | 27,374,963 | | | | (1,179,876 | ) | | | 15,125,296 | | | | 19,606,897 | | | | (4,744,193 | ) | | | 74,890 | |
| | 10,590,859 | | | | (27,114,383 | ) | | | 20,339,123 | | | | (1,909,791 | ) | | | (2,912,177 | ) | | | (7,599,241 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 103,749,739 | | | | 130,864,122 | | | | 16,139,513 | | | | 18,049,304 | | | | 32,813,454 | | | | 40,412,695 | |
| $ | 114,340,598 | | | $ | 103,749,739 | | | $ | 36,478,636 | | | $ | 16,139,513 | | | $ | 29,901,277 | | | $ | 32,813,454 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 231,526,268 | | | $ | 587,034,856 | | | $ | 67,693,330 | | | $ | 185,081,878 | | | $ | 34,195,353 | | | $ | 77,113,965 | |
| | 8,650,741 | | | | 7,312,208 | | | | — | | | | — | | | | — | | | | 2,443,673 | |
| | (213,083,452 | ) | | | (595,332,161 | ) | | | (56,950,653 | ) | | | (166,201,928 | ) | | | (39,106,057 | ) | | | (79,218,035 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 1,239,785 | | | | 40,433,389 | | | | 12,121,076 | | | | 6,363,662 | | | | 2,522,466 | | | | 2,252,742 | |
| | 218,038 | | | | 216,056 | | | | — | | | | — | | | | — | | | | 76,910 | |
| | (1,176,417 | ) | | | (40,844,224 | ) | | | (7,738,457 | ) | | | (5,636,715 | ) | | | (2,355,955 | ) | | | (2,594,365 | ) |
| $ | 27,374,963 | | | $ | (1,179,876 | ) | | $ | 15,125,296 | | | $ | 19,606,897 | | | $ | (4,744,193 | ) | | $ | 74,890 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 2,948,536 | | | | 5,546,384 | | | | 2,318,741 | (a) | | | 3,181,520 | (a) | | | 648,761 | | | | 1,224,357 | |
| | 127,743 | | | | 70,235 | | | | — | | | | — | | | | — | | | | 36,681 | |
| | (2,736,692 | ) | | | (5,620,713 | ) | | | (1,990,851 | )(a) | | | (2,883,703 | )(a) | | | (730,108 | ) | | | (1,260,160 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 21,487 | | | | 509,210 | | | | 474,442 | (a) | | | 126,266 | (a) | | | 54,474 | | | | 40,972 | |
| | 4,293 | | | | 2,650 | | | | — | | | | — | | | | — | | | | 1,365 | |
| | (20,482 | ) | | | (513,641 | ) | | | (355,209 | )(a) | | | (103,964 | )(a) | | | (51,520 | ) | | | (47,213 | ) |
| | 344,885 | | | | (5,875 | ) | | | 447,123 | | | | 320,119 | | | | (78,393 | ) | | | (3,998 | ) |
See accompanying notes to the financial statements.
230 :: Statements of Changes in Net Assets :: For the Periods Indicated
| | | UltraEmerging Markets ProFund | | | UltraInternational ProFund | |
| | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | |
| FROM INVESTMENT ACTIVITIES: |
| OPERATIONS: |
| Net investment income (loss) | | $ | 85,630 | | | $ | 71,325 | | | $ | 26,105 | | | $ | (38,562 | ) |
| Net realized gains (losses) on investments | | | 1,230,267 | | | | (2,411,724 | ) | | | 931,590 | | | | (801,693 | ) |
| Change in net unrealized appreciation/depreciation on investments | | | 790,837 | | | | (2,891,149 | ) | | | (109,343 | ) | | | 57,206 | |
| Change in net assets resulting from operations | | | 2,106,734 | | | | (5,231,548 | ) | | | 848,352 | | | | (783,049 | ) |
| DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions | | | | | | | | | | | | | | | | |
| Investor Class | | | (103,933 | ) | | | — | | | | — | | | | — | |
| Service Class | | | — | | | | — | | | | — | | | | — | |
| Change in net assets resulting from distributions | | | (103,933 | ) | | | — | | | | — | | | | — | |
| Change in net assets resulting from capital transactions | | | 3,228,383 | | | | 1,670,127 | | | | 3,616,297 | | | | (22,111 | ) |
| Change in net assets | | | 5,231,184 | | | | (3,561,421 | ) | | | 4,464,649 | | | | (805,160 | ) |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of period | | | 5,760,361 | | | | 9,321,782 | | | | 2,346,388 | | | | 3,151,548 | |
| End of period | | $ | 10,991,545 | | | $ | 5,760,361 | | | $ | 6,811,037 | | | $ | 2,346,388 | |
| CAPITAL TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | $ | 23,342,390 | | | $ | 43,083,489 | | | $ | 12,499,763 | | | $ | 17,512,907 | |
| Distributions reinvested | | | 102,872 | | | | — | | | | — | | | | — | |
| Value of shares redeemed | | | (20,214,668 | ) | | | (41,279,339 | ) | | | (8,922,592 | ) | | | (17,528,809 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | | 1,612,349 | | | | 2,736,717 | | | | 1,852,964 | | | | 921,323 | |
| Distributions reinvested | | | — | | | | — | | | | — | | | | — | |
| Value of shares redeemed | | | (1,614,560 | ) | | | (2,870,740 | ) | | | (1,813,838 | ) | | | (927,532 | ) |
| Change in net assets resulting from capital transactions | | $ | 3,228,383 | | | $ | 1,670,127 | | | $ | 3,616,297 | | | $ | (22,111 | ) |
| SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Issued | | | 581,174 | | | | 775,624 | | | | 903,912 | | | | 949,650 | |
| Reinvested | | | 2,700 | | | | — | | | | — | | | | — | |
| Redeemed | | | (492,898 | ) | | | (752,759 | ) | | | (655,524 | ) | | | (937,618 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Issued | | | 48,025 | | | | 42,639 | | | | 158,350 | | | | 48,422 | |
| Reinvested | | | — | | | | — | | | | — | | | | — | |
| Redeemed | | | (47,711 | ) | | | (44,904 | ) | | | (155,162 | ) | | | (49,227 | ) |
| Change in shares | | | 91,290 | | | | 20,600 | | | | 251,576 | | | | 11,227 | |
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 :: 231
| UltraJapan ProFund | | | UltraLatin America ProFund | | | UltraMid-Cap ProFund | |
Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| $ | 71,100 | | | $ | (216,892 | ) | | $ | 511,540 | | | $ | 895,739 | | | $ | 96,797 | | | $ | (203,224 | ) |
| | (9,571 | ) | | | (1,841,360 | ) | | | 1,364,420 | | | | (592,830 | ) | | | 2,287,089 | | | | (4,207,923 | ) |
| | (403,104 | ) | | | 2,168,281 | | | | 618,947 | | | | (2,561,817 | ) | | | 625,048 | | | | (3,975,451 | ) |
| | (341,575 | ) | | | 110,029 | | | | 2,494,907 | | | | (2,258,908 | ) | | | 3,008,934 | | | | (8,386,598 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | — | | | | (1,957,534 | ) | | | (917,134 | ) | | | (700,829 | ) | | | — | | | | (2,662,144 | ) |
| | — | | | | (23,373 | ) | | | (8,866 | ) | | | (3,119 | ) | | | — | | | | (67,066 | ) |
| | — | | | | (1,980,907 | ) | | | (926,000 | ) | | | (703,948 | ) | | | — | | | | (2,729,210 | ) |
| | 28,648 | | | | (7,958 | ) | | | 220,712 | | | | (3,433,010 | ) | | | 414,789 | | | | (7,145,985 | ) |
| | (312,927 | ) | | | (1,878,836 | ) | | | 1,789,619 | | | | (6,395,866 | ) | | | 3,423,723 | | | | (18,261,793 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 12,864,334 | | | | 14,743,170 | | | | 9,690,776 | | | | 16,086,642 | | | | 44,619,357 | | | | 62,881,150 | |
| $ | 12,551,407 | | | $ | 12,864,334 | | | $ | 11,480,395 | | | $ | 9,690,776 | | | $ | 48,043,080 | | | $ | 44,619,357 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 7,557,372 | | | $ | 23,136,059 | | | $ | 20,562,794 | | | $ | 61,958,936 | | | $ | 25,967,176 | | | $ | 82,405,703 | |
| | — | | | | 1,931,206 | | | | 896,181 | | | | 695,284 | | | | — | | | | 2,617,245 | |
| | (7,537,199 | ) | | | (25,064,105 | ) | | | (21,216,879 | ) | | | (66,060,487 | ) | | | (25,551,223 | ) | | | (92,088,970 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 1,685,504 | | | | 2,426,046 | | | | 4,184,155 | | | | 2,635,355 | | | | 327,468 | | | | 2,921,263 | |
| | — | | | | 23,373 | | | | 8,866 | | | | 3,119 | | | | — | | | | 67,066 | |
| | (1,677,029 | ) | | | (2,460,537 | ) | | | (4,214,405 | ) | | | (2,665,217 | ) | | | (328,632 | ) | | | (3,068,292 | ) |
| $ | 28,648 | | | $ | (7,958 | ) | | $ | 220,712 | | | $ | (3,433,010 | ) | | $ | 414,789 | | | $ | (7,145,985 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 281,771 | | | | 781,101 | | | | 1,340,939 | | | | 3,760,085 | | | | 527,088 | | | | 1,300,862 | |
| | — | | | | 58,504 | | | | 64,473 | | | | 50,056 | | | | — | | | | 39,529 | |
| | (281,026 | ) | | | (844,912 | ) | | | (1,374,655 | ) | | | (3,992,888 | ) | | | (520,683 | ) | | | (1,429,534 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 76,028 | | | | 102,257 | | | | 279,411 | | | | 160,982 | | | | 7,750 | | | | 55,535 | |
| | — | | | | 871 | | | | 653 | | | | 231 | | | | — | | | | 1,283 | |
| | (76,204 | ) | | | (103,437 | ) | | | (279,581 | ) | | | (161,657 | ) | | | (7,925 | ) | | | (58,941 | ) |
| | 569 | | | | (5,616 | ) | | | 31,240 | | | | (183,191 | ) | | | 6,230 | | | | (91,266 | ) |
See accompanying notes to the financial statements.
232 :: Statements of Changes in Net Assets :: For the Periods Indicated
| | | UltraNasdaq-100 ProFund | | | UltraShort China ProFund | |
| | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | |
| FROM INVESTMENT ACTIVITIES: |
| OPERATIONS: |
| Net investment income (loss) | | $ | 38,257 | | | $ | (8,132,772 | ) | | $ | 24,369 | | | $ | (45,895 | ) |
| Net realized gains (losses) on investments | | | (54,879,529 | ) | | | (172,336,450 | ) | | | (1,696,094 | ) | | | (3,336,675 | ) |
| Change in net unrealized appreciation/depreciation on investments | | | (77,435,767 | ) | | | (118,318,583 | ) | | | 66,163 | | | | 529,194 | |
| Change in net assets resulting from operations | | | (132,277,039 | ) | | | (298,787,805 | ) | | | (1,605,562 | ) | | | (2,853,376 | ) |
| DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions | | | | | | | | | | | | | | | | |
| Investor Class | | | (26,964,771 | ) | | | (160,235,818 | ) | | | — | | | | — | |
| Service Class | | | (667,988 | ) | | | (4,885,875 | ) | | | — | | | | — | |
| Change in net assets resulting from distributions | | | (27,632,759 | ) | | | (165,121,693 | ) | | | — | | | | — | |
| Change in net assets resulting from capital transactions | | | 78,475,338 | | | | (72,695,894 | ) | | | 2,505,353 | | | | 1,985,873 | |
| Change in net assets | | | (81,434,460 | ) | | | (536,605,392 | ) | | | 899,791 | | | | (867,503 | ) |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of period | | | 583,665,093 | | | | 1,120,270,485 | | | | 1,479,391 | | | | 2,346,894 | |
| End of period | | $ | 502,230,633 | | | $ | 583,665,093 | | | $ | 2,379,182 | | | $ | 1,479,391 | |
| CAPITAL TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | $ | 2,121,093,095 | | | $ | 6,411,842,913 | | | $ | 31,165,663 | | | $ | 75,578,069 | |
| Distributions reinvested | | | 22,723,389 | | | | 155,791,807 | | | | — | | | | — | |
| Value of shares redeemed | | | (2,065,052,488 | ) | | | (6,642,871,341 | ) | | | (28,721,314 | ) | | | (73,778,098 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | | 10,806,266 | | | | 26,948,739 | | | | 486,080 | | | | 960,976 | |
| Distributions reinvested | | | 666,385 | | | | 4,754,067 | | | | — | | | | — | |
| Value of shares redeemed | | | (11,761,309 | ) | | | (29,162,079 | ) | | | (425,076 | ) | | | (775,074 | ) |
| Change in net assets resulting from capital transactions | | $ | 78,475,338 | | | $ | (72,695,894 | ) | | $ | 2,505,353 | | | $ | 1,985,873 | |
| SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Issued | | | 45,766,335 | | | | 85,922,710 | | | | 2,950,608 | | | | 4,110,501 | |
| Reinvested | | | 588,082 | | | | 1,657,378 | | | | — | | | | — | |
| Redeemed | | | (45,265,537 | ) | | | (88,857,348 | ) | | | (2,679,571 | ) | | | (4,125,751 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Issued | | | 369,458 | | | | 386,431 | | | | 37,396 | | | | 48,820 | |
| Reinvested | | | 24,663 | | | | 68,932 | | | | — | | | | — | |
| Redeemed | | | (397,772 | ) | | | (429,333 | ) | | | (37,650 | ) | | | (48,359 | ) |
| Change in shares | | | 1,085,229 | | | | (1,251,230 | ) | | | 270,783 | | | | (14,789 | ) |
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 :: 233
| UltraShort Dow 30 ProFund | | | UltraShort Emerging Markets ProFund | | | UltraShort International ProFund | |
Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| $ | 25,019 | | | $ | (41,615 | ) | | $ | 10,910 | | | $ | (15,100 | ) | | $ | 29,374 | | | $ | (29,319 | ) |
| | (564,858 | ) | | | 40,035 | | | | (392,120 | ) | | | 4,627 | | | | (1,284,873 | ) | | | (110,073 | ) |
| | 94,146 | | | | (130,542 | ) | | | 14,403 | | | | 65,310 | | | | 106,288 | | | | (89,230 | ) |
| | (445,693 | ) | | | (132,122 | ) | | | (366,807 | ) | | | 54,837 | | | | (1,149,211 | ) | | | (228,622 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | 665,691 | | | | (247,618 | ) | | | (260,141 | ) | | | 629,823 | | | | 517,144 | | | | 1,238,341 | |
| | 219,998 | | | | (379,740 | ) | | | (626,948 | ) | | | 684,660 | | | | (632,067 | ) | | | 1,009,719 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 2,646,838 | | | | 3,026,578 | | | | 1,277,909 | | | | 593,249 | | | | 2,646,364 | | | | 1,636,645 | |
| $ | 2,866,836 | | | $ | 2,646,838 | | | $ | 650,961 | | | $ | 1,277,909 | | | $ | 2,014,297 | | | $ | 2,646,364 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 16,465,701 | | | $ | 24,311,975 | | | $ | 9,800,980 | | | $ | 22,921,108 | | | $ | 23,856,119 | | | $ | 23,328,525 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | (15,664,650 | ) | | | (24,606,552 | ) | | | (10,119,777 | ) | | | (22,254,158 | ) | | | (23,341,124 | ) | | | (22,113,341 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 589,066 | | | | 283,182 | | | | 596,742 | | | | 1,729,309 | | | | 10,000 | | | | 304,492 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | (724,426 | ) | | | (236,223 | ) | | | (538,086 | ) | | | (1,766,436 | ) | | | (7,851 | ) | | | (281,335 | ) |
| $ | 665,691 | | | $ | (247,618 | ) | | $ | (260,141 | ) | | $ | 629,823 | | | $ | 517,144 | | | $ | 1,238,341 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 814,898 | | | | 1,191,162 | | | | 305,754 | | | | 845,239 | | | | 779,686 | | | | 940,018 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | (781,016 | ) | | | (1,211,536 | ) | | | (323,240 | ) | | | (826,380 | ) | | | (785,591 | ) | | | (913,359 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 33,373 | | | | 14,805 | | | | 21,860 | | | | 80,545 | | | | 332 | | | | 11,899 | |
| | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | (40,735 | ) | | | (12,153 | ) | | | (17,326 | ) | | | (80,832 | ) | | | (332 | ) | | | (11,901 | ) |
| | 26,520 | | | | (17,722 | ) | | | (12,952 | ) | | | 18,572 | | | | (5,905 | ) | | | 26,657 | |
See accompanying notes to the financial statements.
234 :: Statements of Changes in Net Assets :: For the Periods Indicated
| | | UltraShort Japan ProFund | | | UltraShort Latin America ProFund | |
| | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | |
| FROM INVESTMENT ACTIVITIES: |
| OPERATIONS: |
| Net investment income (loss) | | $ | 1,956 | | | $ | (5,108 | ) | | $ | 10,954 | | | $ | (17,818 | ) |
| Net realized gains (losses) on investments | | | (4,543 | ) | | | (87,803 | ) | | | (683,713 | ) | | | (360,275 | ) |
| Change in net unrealized appreciation/depreciation on investments | | | (13,820 | ) | | | (25,480 | ) | | | 76,653 | | | | (119,024 | ) |
| Change in net assets resulting from operations | | | (16,407 | ) | | | (118,391 | ) | | | (596,106 | ) | | | (497,117 | ) |
| Change in net assets resulting from capital transactions | | | 123,348 | | | | 56,905 | | | | (409,582 | ) | | | 1,488,833 | |
| Change in net assets | | | 106,941 | | | | (61,486 | ) | | | (1,005,688 | ) | | | 991,716 | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of period | | | 200,414 | | | | 261,900 | | | | 1,803,948 | | | | 812,232 | |
| End of period | | $ | 307,355 | | | $ | 200,414 | | | $ | 798,260 | | | $ | 1,803,948 | |
| CAPITAL TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | $ | 3,757,731 | | | $ | 11,429,220 | | | $ | 13,429,899 | | | $ | 34,663,920 | |
| Value of shares redeemed | | | (3,623,060 | ) | | | (11,341,116 | ) | | | (13,830,065 | ) | | | (33,183,439 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | | 339,664 | | | | 40,043 | | | | 369,005 | | | | 1,353,111 | |
| Value of shares redeemed | | | (350,987 | ) | | | (71,242 | ) | | | (378,421 | ) | | | (1,344,759 | ) |
| Change in net assets resulting from capital transactions | | $ | 123,348 | | | $ | 56,905 | | | $ | (409,582 | ) | | $ | 1,488,833 | |
| SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Issued | | | 349,775 | | | | 991,820 | | | | 1,710,861 | | | | 3,289,981 | |
| Redeemed | | | (339,478 | ) | | | (990,794 | ) | | | (1,777,465 | ) | | | (3,172,499 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Issued | | | 37,755 | | | | 4,431 | | | | 53,117 | | | | 140,783 | |
| Redeemed | | | (37,756 | ) | | | (6,946 | ) | | | (53,117 | ) | | | (140,782 | ) |
| Change in shares | | | 10,296 | | | | (1,489 | ) | | | (66,604 | ) | | | 117,483 | |
Amounts designated as " – " are $0 or have been rounded to $0.
| (a) | As described in Note 11, share amounts have been adjusted for 1:10 reverse share split that occurred on March 6, 2023. |
| (b) | Amount is less than 0.5 share. |
| (c) | As described in Note 11, share amounts have been adjusted for 1:5 reverse share split that occurred on March 13, 2023. |
See accompanying notes to the financial statements.
For the Periods Indicated :: Statements of Changes in Net Assets :: 235
| UltraShort Mid-Cap ProFund | | | UltraShort Nasdaq-100 ProFund | | | UltraShort Small-Cap ProFund | |
Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | |
| | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| $ | 14,280 | | | $ | (21,691 | ) | | $ | 330,250 | | | $ | (336,424 | ) | | $ | 53,521 | | | $ | (69,085 | ) |
| | (174,930 | ) | | | (68,458 | ) | | | (20,175,786 | ) | | | (3,355,620 | ) | | | (474,104 | ) | | | 222,449 | |
| | 41,603 | | | | (18,898 | ) | | | 6,192,803 | | | | (6,059,081 | ) | | | 179,034 | | | | 118,852 | |
| | (119,047 | ) | | | (109,047 | ) | | | (13,652,733 | ) | | | (9,751,125 | ) | | | (241,549 | ) | | | 272,216 | |
| | (140,080 | ) | | | 123,216 | | | | (67,161,766 | ) | | | 101,278,744 | | | | 4,520,808 | | | | (4,508,299 | ) |
| | (259,127 | ) | | | 14,169 | | | | (80,814,499 | ) | | | 91,527,619 | | | | 4,279,259 | | | | (4,236,083 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 1,477,264 | | | | 1,463,095 | | | | 100,992,918 | | | | 9,465,299 | | | | 4,352,949 | | | | 8,589,032 | |
| $ | 1,218,137 | | | $ | 1,477,264 | | | $ | 20,178,419 | | | $ | 100,992,918 | | | $ | 8,632,208 | | | $ | 4,352,949 | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 12,530,046 | | | $ | 13,566,232 | | | $ | 1,163,106,895 | | | $ | 3,433,169,405 | | | $ | 70,822,616 | | | $ | 82,946,443 | |
| | (12,670,122 | ) | | | (13,481,529 | ) | | | (1,230,204,373 | ) | | | (3,331,910,049 | ) | | | (66,306,284 | ) | | | (87,075,044 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | — | | | | 54,210 | | | | 204,246 | | | | 733,334 | | | | 484,842 | | | | 2,258,052 | |
| | (4 | ) | | | (15,697 | ) | | | (268,534 | ) | | | (713,946 | ) | | | (480,366 | ) | | | (2,637,750 | ) |
| $ | (140,080 | ) | | $ | 123,216 | | | $ | (67,161,766 | ) | | $ | 101,278,744 | | | $ | 4,520,808 | | | $ | (4,508,299 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| | 243,175 | (a) | | | 258,994 | (a) | | | 12,518,282 | (c) | | | 43,114,169 | (c) | | | 8,852,900 | | | | 10,923,532 | |
| | (243,672 | )(a) | | | (258,136 | )(a) | | | (13,550,585 | )(c) | | | (41,955,815 | )(c) | | | (8,172,819 | ) | | | (11,514,143 | ) |
| | | | | | | | | | | | | | | | | | | | | | | |
| | — | | | | 1,059 | (a) | | | 2,541 | (c) | | | 10,120 | (c) | | | 64,361 | | | | 333,979 | |
| | — | (a)(b) | | | (293 | )(a) | | | (3,256 | )(c) | | | (10,322 | )(c) | | | (64,943 | ) | | | (388,133 | ) |
| | (497 | ) | | | 1,624 | | | | (1,033,018 | ) | | | 1,158,152 | | | | 679,499 | | | | (644,765 | ) |
See accompanying notes to the financial statements.
236 :: Statements of Changes in Net Assets :: For the Periods Indicated
| | | UltraSmall-Cap ProFund | | | U.S. Government Plus ProFund | |
| | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | |
| | | | | | | | | | | | | |
| FROM INVESTMENT ACTIVITIES: |
| OPERATIONS: |
| Net investment income (loss) | | $ | 104,994 | | | $ | (586,805 | ) | | $ | 47,270 | | | $ | (204,594 | ) |
| Net realized gains (losses) on investments | | | (4,394,604 | ) | | | (24,740,578 | ) | | | (1,685,605 | ) | | | (4,080,528 | ) |
| Change in net unrealized appreciation/depreciation on investments | | | 4,963,089 | | | | (6,450,265 | ) | | | (75,675 | ) | | | (151,076 | ) |
| Change in net assets resulting from operations | | | 673,479 | | | | (31,777,648 | ) | | | (1,714,010 | ) | | | (4,436,198 | ) |
| DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions | | | | | | | | | | | | | | | | |
| Investor Class | | | — | | | | — | | | | — | | | | — | |
| Change in net assets resulting from distributions | | | — | | | | — | | | | — | | | | — | |
| Change in net assets resulting from capital transactions | | | 6,362,557 | | | | (16,551,093 | ) | | | (2,261,263 | ) | | | (12,733,781 | ) |
| Change in net assets | | | 7,036,036 | | | | (48,328,741 | ) | | | (3,975,273 | ) | | | (17,169,979 | ) |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of period | | | 52,812,763 | | | | 101,141,504 | | | | 8,851,071 | | | | 26,021,050 | |
| End of period | | $ | 59,848,799 | | | $ | 52,812,763 | | | $ | 4,875,798 | | | $ | 8,851,071 | |
| CAPITAL TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | $ | 293,350,631 | | | $ | 620,574,038 | | | $ | 126,181,681 | | | $ | 468,167,292 | |
| Distributions reinvested | | | — | | | | — | | | | — | | | | — | |
| Value of shares redeemed | | | (287,295,206 | ) | | | (636,977,693 | ) | | | (128,096,395 | ) | | | (479,803,815 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | | 1,178,320 | | | | 8,938,324 | | | | 7,586,915 | | | | 1,956,228 | |
| Value of shares redeemed | | | (871,188 | ) | | | (9,085,762 | ) | | | (7,933,464 | ) | | | (3,053,486 | ) |
| Change in net assets resulting from capital transactions | | $ | 6,362,557 | | | $ | (16,551,093 | ) | | $ | (2,261,263 | ) | | $ | (12,733,781 | ) |
| SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Issued | | | 5,343,868 | | | | 8,072,582 | | | | 2,821,565 | | | | 7,572,365 | |
| Reinvested | | | — | | | | — | | | | — | | | | — | |
| Redeemed | | | (5,233,495 | ) | | | (8,315,784 | ) | | | (2,876,089 | ) | | | (7,758,669 | ) |
| Service Class | | | | | | | | | | | | | | | | |
| Issued | | | 23,598 | | | | 137,760 | | | | 203,315 | | | | 36,162 | |
| Redeemed | | | (17,249 | ) | | | (146,583 | ) | | | (212,725 | ) | | | (52,565 | ) |
| Change in shares | | | 116,722 | | | | (252,025 | ) | | | (63,934 | ) | | | (202,707 | ) |
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 :: 237
| Utilities UltraSector ProFund | |
Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | |
| | | | | | | |
| | | | | | | |
| $ | 70,097 | | | $ | 37,098 | |
| | (617,404 | ) | | | (188,312 | ) |
| | (988,724 | ) | | | 1,316,825 | |
| | (1,536,031 | ) | | | 1,165,611 | |
| | | | | | | |
| | | | | | | |
| | (83,764 | ) | | | (16,661 | ) |
| | (83,764 | ) | | | (16,661 | ) |
| | (4,000,681 | ) | | | 3,652,389 | |
| | (5,620,476 | ) | | | 4,801,339 | |
| | | | | | | |
| | 13,587,184 | | | | 8,785,845 | |
| $ | 7,966,708 | | | $ | 13,587,184 | |
| | | | | | | |
| | | | | | | |
| $ | 19,051,546 | | | $ | 42,361,389 | |
| | 83,548 | | | | 16,614 | |
| | (22,561,646 | ) | | | (39,414,444 | ) |
| | | | | | | |
| | 1,788,468 | | | | 4,266,677 | |
| | (2,362,597 | ) | | | (3,577,847 | ) |
| $ | (4,000,681 | ) | | $ | 3,652,389 | |
| | | | | | | |
| | | | | | | |
| | 292,892 | | | | 655,340 | |
| | 1,270 | | | | 250 | |
| | (351,835 | ) | | | (620,543 | ) |
| | | | | | | |
| | 28,396 | | | | 71,156 | |
| | (38,191 | ) | | | (61,361 | ) |
| | (67,468 | ) | | | 44,842 | |
See accompanying notes to the financial statements.
This Page Intentionally Left Blank
Consolidated Statements of Changes in Net Assets
240 :: Consolidated Statements of Changes in Net Assets :: For the Periods Indicated
| | | Bitcoin Strategy ProFund | | | Short Bitcoin Strategy ProFund | |
| | | Six Months
Ended
January 31,
2023
(unaudited) | | | Year Ended
July 31, 2022 | | | Six Months
Ended
January 31,
2023
(unaudited) | | | Period from
June 21, 2022
(commencement
of operations)
to July 31, 2022 | |
| | | | | | | | | | | | | |
| FROM INVESTMENT ACTIVITIES: |
| OPERATIONS: |
| Net investment income (loss) | | $ | 33,684 | | | $ | (294,838 | ) | | $ | (921 | ) | | $ | (727 | ) |
| Net realized gains (losses) on investments | | | 98,743 | | | | (25,491,123 | ) | | | (110,758 | ) | | | (100,369 | ) |
| Change in net unrealized appreciation/depreciation on investments | | | 511,294 | | | | 1,737,433 | | | | 1,404 | | | | (1,137 | ) |
| Change in net assets resulting from operations | | | 643,721 | | | | (24,048,528 | ) | | | (110,275 | ) | | | (102,233 | ) |
| DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | | | | |
| Total distributions | | | | | | | | | | | | | | | | |
| Investor Class | | | (463,236 | ) | | | — | | | | — | | | | — | |
| Change in net assets resulting from distributions | | | (463,236 | ) | | | — | | | | — | | | | — | |
| Change in net assets resulting from capital transactions | | | 6,502,485 | | | | 47,072,708 | | | | 23,373 | | | | 507,642 | |
| Change in net assets | | | 6,682,970 | | | | 23,024,180 | | | | (86,902 | ) | | | 405,409 | |
| NET ASSETS: | | | | | | | | | | | | | | | | |
| Beginning of period | | | 23,547,705 | | | | 523,525 | | | | 405,409 | | | | — | |
| End of period | | $ | 30,230,675 | | | $ | 23,547,705 | | | $ | 318,507 | | | $ | 405,409 | |
| CAPITAL TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Proceeds from shares issued | | $ | 26,312,415 | | | $ | 93,634,525 | | | $ | 7,312,419 | | | $ | 912,843 | |
| Distributions reinvested | | | 459,991 | | | | — | | | | — | | | | — | |
| Value of shares redeemed | | | (20,269,921 | ) | | | (46,561,817 | ) | | | (7,289,046 | ) | | | (405,201 | ) |
| Change in net assets resulting from capital transactions | | $ | 6,502,485 | | | $ | 47,072,708 | | | $ | 23,373 | | | $ | 507,642 | |
| SHARE TRANSACTIONS: | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | |
| Issued | | | 2,289,291 | | | | 3,537,896 | | | | 311,538 | | | | 37,444 | |
| Reinvested | | | 33,923 | | | | — | | | | — | | | | — | |
| Redeemed | | | (1,777,718 | ) | | | (1,875,538 | ) | | | (312,697 | ) | | | (17,815 | ) |
| Change in shares | | | 545,496 | | | | 1,662,358 | | | | (1,159 | ) | | | 19,629 | |
Amounts designated as " – " are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
Consolidated Statements of Cash Flows
242 :: Consolidated Statements of Cash Flows (unaudited)
| | | Bitcoin
Strategy
ProFund | | | Short Bitcoin
Strategy
ProFund | |
| | | Six Months
Ended
January 31,
2023 | | | Six Months
Ended
January 31,
2023 | |
| Cash Flows from Operating Activities: | | | | | | | | |
| Net Increase (decrease) in Net Assets from Operations | | $ | 643,721 | | | $ | (110,275 | ) |
| Less: Net realized gain on investments | | | 3,145 | | | | 45 | |
| Less: Change in net unrealized appreciation/depreciation of investments | | | (2,240 | ) | | | (67 | ) |
| Adjustments to reconcile the net increase (decrease) in net assets from operations to net cash provided by (used in) operating activities | | | | | | | | |
| Proceeds from (Purchase of) short-term investments, net | | | 2,176,032 | | | | 203,132 | |
| Amortization (Accretion) of premiums and discounts, net | | | (167,680 | ) | | | (3,147 | ) |
| (Increase) Decrease in: | | | | | | | | |
| Receivable from Advisor | | | (712 | ) | | | 18,080 | |
| Receivable From Administrator | | | (1,211 | ) | | | (1,140 | ) |
| Receivable for variation margin on futures contracts | | | (492,591 | ) | | | — | |
| Prepaid Expenses | | | 6,355 | | | | 16,931 | |
| Increase (Decrease) in: | | | | | | | | |
| Interest payable (on reverse repurchase agreements) | | | (1,400 | ) | | | (54 | ) |
| Futures Commission Merchant (FCM) fees payable | | | 510 | | | | 14 | |
| Variation margin payable on futures contracts | | | — | | | | 4,524 | |
| Advisor fees payable | | | 5,826 | | | | — | |
| Management fees payable | | | 1,942 | | | | — | |
| Administration fees payable | | | 473 | | | | 10 | |
| Transfer agency fees payable | | | 169 | | | | 101 | |
| Fund accounting fees payable | | | 267 | | | | 6 | |
| Compliance services fees payable | | | 28 | | | | 4 | |
| Service fees payable | | | 77 | | | | 1 | |
| Other accrued expenses | | | 548 | | | | (7,925 | ) |
| Net cash provided by (used in) operating activities | | $ | 2,173,259 | | | $ | 120,240 | |
| Cash Flows from Financing Activities: | | | | | | | | |
| Proceeds from reverse repurchase agreements | | | 44,926,970 | | | | 798,768 | |
| (Repayments of) reverse repurchase agreements | | | (46,937,270 | ) | | | (998,754 | ) |
| Proceeds from capital shares issued | | | 25,917,715 | | | | 7,307,293 | |
| Cash paid for capital shares redeemed | | | (20,358,366 | ) | | | (7,349,562 | ) |
| Net cash provided by (used in) financing activities | | $ | 3,549,049 | | | $ | (242,255 | ) |
| Net Increase (Decrease) in Cash and Cash Collateral at Brokers | | | 5,722,308 | | | | (122,015 | ) |
| Cash and cash collateral at brokers at the beginning of period | | | 23,343,690 | | | | 439,650 | |
| Cash and cash collateral at brokers at the end of period | | $ | 29,065,998 | | | $ | 317,635 | |
| The following table provides a reconciliation of cash and cash collateral at brokers to the statement of assets and liabilities: | | | | | | | | |
| Cash | | | 21,273,598 | | | | 231,395 | |
| Cash collateral at brokers for investments in futures | | | 7,792,400 | | | | 86,240 | |
| Total cash and cash collateral at brokers | | $ | 29,065,998 | | | $ | 317,635 | |
| Supplemental Disclosure of Cash Flow Information | | | | | | | | |
| Cash paid for interest (excluding costs) | | $ | 6,254 | | | $ | 137 | |
| Non-cash financing activities not included herein consists of reinvestments of distributions | | | 459,991 | | | | None | |
Amounts designated as " – " are $0 or have been rounded to $0.
See accompanying notes to the financial statements.
Financial Highlights
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 | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
| | | 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 | | In Excess
of Net
Investment
Income | | Return
of
Capital | | Total
Distributions | | Net
Asset
Value,
End of
Period | | Total
Return(b) | | Gross
Expenses(c) | | Net
Expenses(c) | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000’s) | | Portfolio
Turnover
Rate(b)(d) | |
| Access Flex Bear High Yield ProFund |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 31.71 | | | 0.12 | | | (1.03 | ) | | (0.91 | ) | | — | | | — | | | — | | | — | | $ | 30.80 | | | (2.87 | )% | | 2.42 | % | | 1.78 | % | | 0.76 | % | | $ | 2,061 | | | — | |
| Year Ended July 31, 2022 | | $ | 29.93 | | | (0.43 | ) | | 2.21 | | | 1.78 | | | — | | | — | | | — | | | — | | $ | 31.71 | | | 5.95 | % | | 3.15 | % | | 1.78 | % | | (1.36 | )% | | $ | 2,189 | | | — | |
| Nine Months Ended July 31, 2021 (unaudited) | | $ | 33.20 | | | (0.41 | ) | | (2.86 | ) | | (3.27 | ) | | — | | | — | | | — | | | — | | $ | 29.93 | | | (9.80 | )% | | 9.92 | % | | 1.78 | % | | (1.78 | )% | | $ | 445 | | | — | |
| Year Ended October 31, 2020 | | $ | 33.78 | | | (0.53 | ) | | (0.05 | ) | | (0.58 | ) | | — | | | — | | | — | | | — | | $ | 33.20 | | | (1.72 | )% | | 5.56 | % | | 1.78 | % | | (1.56 | )% | | $ | 845 | | | — | |
| Year Ended October 31, 2019 | | $ | 37.85 | | | (0.21 | ) | | (3.86 | ) | | (4.07 | ) | | — | | | — | | | — | | | — | | $ | 33.78 | | | (10.75 | )% | | 5.99 | % | | 1.78 | % | | (0.60 | )% | | $ | 807 | | | — | |
| Year Ended October 31, 2018 | | $ | 38.27 | | | (0.35 | ) | | (0.07 | ) | | (0.42 | ) | | — | | | — | | | — | | | — | | $ | 37.85 | | | (1.10 | )% | | 5.42 | % | | 1.78 | % | | (0.92 | )% | | $ | 591 | | | — | |
| Year Ended October 31, 2017(e) | | $ | 40.76 | | | (0.50 | ) | | (1.99 | ) | | (2.49 | ) | | — | | | — | | | — | | | — | | $ | 38.27 | | | (6.09 | )%(f) | | 4.18 | % | | 1.78 | % | | (1.30 | )% | | $ | 671 | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 26.94 | | | (0.02 | ) | | (0.88 | ) | | (0.90 | ) | | — | | | — | | | — | | | — | | $ | 26.04 | | | (3.34 | )% | | 3.42 | % | | 2.78 | % | | (0.24 | )% | | $ | 17 | | | — | |
| Year Ended July 31, 2022 | | $ | 25.68 | | | (0.69 | ) | | 1.95 | | | 1.26 | | | — | | | — | | | — | | | — | | $ | 26.94 | | | 4.86 | % | | 4.15 | % | | 2.78 | % | | (2.36 | )% | | $ | 28 | | | — | |
| Nine Months Ended July 31, 2021 (unaudited) | | $ | 28.71 | | | (0.61 | ) | | (2.42 | ) | | (3.03 | ) | | — | | | — | | | — | | | — | | $ | 25.68 | | | (10.45 | )% | | 10.92 | % | | 2.78 | % | | (2.78 | )% | | $ | 11 | | | — | |
| Year Ended October 31, 2020 | | $ | 29.49 | | | (0.82 | ) | | 0.04 | | | (0.78 | ) | | — | | | — | | | — | | | — | | $ | 28.71 | | | (2.64 | )% | | 6.56 | % | | 2.78 | % | | (2.56 | )% | | $ | 14 | | | — | |
| Year Ended October 31, 2019 | | $ | 33.40 | | | (0.53 | ) | | (3.38 | ) | | (3.91 | ) | | — | | | — | | | — | | | — | | $ | 29.49 | | | (11.70 | )% | | 6.99 | % | | 2.78 | % | | (1.60 | )% | | $ | 33 | | | — | |
| Year Ended October 31, 2018 | | $ | 34.11 | | | (0.69 | ) | | (0.02 | ) | | (0.07 | ) | | — | | | — | | | — | | | — | | $ | 33.40 | | | (2.05 | )% | | 6.42 | % | | 2.78 | % | | (1.92 | )% | | $ | 38 | | | — | |
| Year Ended October 31, 2017(e) | | $ | 36.49 | | | (0.85 | ) | | (1.53 | ) | | (2.38 | ) | | — | | | — | | | — | | | — | | $ | 34.11 | | | (6.55 | )%(f) | | 5.18 | % | | 2.78 | % | | (2.30 | )% | | $ | 116 | | | — | |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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. |
| (e) | As described in Note 9, adjusted for 1:5 reverse share split that occurred on December 5, 2016. |
| (f) | During the year ended October 31, 2017, the Fund received monies related to certain nonrecurring litigation settlements. The corresponding impact to the total return was an increase of 3.30%. |
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 | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
| | | 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 | | In Excess
of Net
Investment
Income | | Return
of
Capital | | Total
Distributions | | Net
Asset
Value,
End of
Period | | Total
Return(b) | | Gross
Expenses(c) | | Net
Expenses(c) | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000’s) | | Portfolio
Turnover
Rate(b)(d) | |
| Access Flex High Yield ProFund |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 29.88 | | | 0.24 | | | 0.65 | | | 0.89 | | | (0.24 | ) | | (0.82 | ) | | — | | | (1.06 | ) | $ | 29.71 | | | 3.16 | % | | 1.82 | % | | 1.78 | % | | 1.64 | % | | $ | 25,582 | | | 828 | % |
| Year Ended July 31, 2022 | | $ | 32.91 | | | (0.25 | ) | | (2.65 | ) | | (2.90 | ) | | — | | | (0.13 | ) | | — | | | (0.13 | ) | $ | 29.88 | | | (8.85 | )% | | 1.78 | % | | 1.78 | % | | (0.81 | )% | | $ | 9,819 | | | 1,259 | % |
| Nine Months Ended July 31, 2021 (unaudited) | | $ | 31.65 | | | (0.34 | ) | | 2.41 | | | 2.07 | | | — | | | (0.81 | ) | | — | | | (0.81 | ) | $ | 32.91 | | | 6.63 | % | | 1.97 | % | | 1.78 | % | | (1.39 | )% | | $ | 13,252 | | | 944 | % |
| Year Ended October 31, 2020 | | $ | 34.28 | | | (0.39 | ) | | (0.98 | ) | | (1.37 | ) | | — | | | (1.14 | ) | | (0.12 | ) | | (1.26 | ) | $ | 31.65 | | | (4.05 | )% | | 2.07 | % | | 1.88 | % | | (1.17 | )% | | $ | 17,557 | | | 1,534 | % |
| Year Ended October 31, 2019 | | $ | 32.40 | | | 0.06 | | | 3.20 | | | 3.26 | | | (0.06 | ) | | (1.32 | ) | | — | | | (1.38 | ) | $ | 34.28 | | | 10.26 | % | | 1.90 | % | | 1.90 | % | | 0.19 | % | | $ | 19,823 | | | 1,362 | % |
| Year Ended October 31, 2018 | | $ | 33.54 | | | 0.11 | | | (0.18 | ) | | (0.07 | ) | | (0.11 | ) | | (0.69 | ) | | (0.27 | ) | | (1.07 | ) | $ | 32.40 | | | (0.21 | )% | | 1.77 | % | | 1.77 | % | | 0.35 | % | | $ | 25,909 | | | 1,334 | % |
| Year Ended October 31, 2017 | | $ | 32.66 | | | (0.16 | ) | | 2.27 | | | 2.11 | | | — | | | (1.23 | ) | | — | | | (1.23 | ) | $ | 33.54 | | | 6.58 | %(e) | | 1.81 | % | | 1.81 | % | | (0.49 | )% | | $ | 25,367 | | | 1,517 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 29.31 | | | 0.10 | | | 0.66 | | | 0.76 | | | (0.10 | ) | | (0.63 | ) | | — | | | (0.73 | ) | $ | 29.34 | | | 2.66 | % | | 2.82 | % | | 2.78 | % | | 0.64 | % | | $ | 2,053 | | | 828 | % |
| Year Ended July 31, 2022 | | $ | 32.53 | | | (0.56 | ) | | (2.61 | ) | | (3.17 | ) | | — | | | (0.05 | ) | | — | | | (0.05 | ) | $ | 29.31 | | | (9.77 | )% | | 2.78 | % | | 2.78 | % | | (1.81 | )% | | $ | 3,259 | | | 1,259 | % |
| Nine Months Ended July 31, 2021 (unaudited) | | $ | 31.33 | | | (0.59 | ) | | 2.40 | | | 1.81 | | | — | | | (0.61 | ) | | — | | | (0.61 | ) | $ | 32.53 | | | 5.81 | % | | 2.97 | % | | 2.78 | % | | (2.39 | )% | | $ | 3,527 | | | 944 | % |
| Year Ended October 31, 2020 | | $ | 33.80 | | | (0.71 | ) | | (0.96 | ) | | (1.67 | ) | | — | | | (0.72 | ) | | (0.08 | ) | | (0.80 | ) | $ | 31.33 | | | (4.98 | )% | | 3.07 | % | | 2.88 | % | | (2.17 | )% | | $ | 2,806 | | | 1,534 | % |
| Year Ended October 31, 2019 | | $ | 32.03 | | | (0.27 | ) | | 3.15 | | | 2.88 | | | — | | | (1.11 | ) | | — | | | (1.11 | ) | $ | 33.80 | | | 9.12 | % | | 2.90 | % | | 2.90 | % | | (0.81 | )% | | $ | 4,820 | | | 1,362 | % |
| Year Ended October 31, 2018 | | $ | 32.80 | | | (0.21 | ) | | (0.17 | ) | | (0.38 | ) | | — | | | (0.29 | ) | | (0.10 | ) | | (0.39 | ) | $ | 32.03 | | | (1.15 | )% | | 2.77 | % | | 2.77 | % | | (0.65 | )% | | $ | 2,648 | | | 1,334 | % |
| Year Ended October 31, 2017 | | $ | 31.89 | | | (0.48 | ) | | 2.22 | | | 1.74 | | | — | | | (0.83 | ) | | — | | | (0.83 | ) | $ | 32.80 | | | 5.54 | %(e) | | 2.81 | % | | 2.81 | % | | (1.49 | )% | | $ | 5,326 | | | 1,517 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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. |
| (e) | During the year ended October 31, 2017, the Fund received monies related to certain nonrecurring litigation settlements. The corresponding impact to the total return was an increase of 0.76%. |
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 | | | | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | | Total
Return(b) | | | Gross
Expenses(c) | | | Net
Expenses(c) | | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(b)(d) | |
| Banks UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 45.34 | | | | 0.19 | | | | 3.77 | | | | 3.96 | | | | (0.12 | ) | | | (0.12 | ) | | $ | 49.18 | | | | 8.76 | % | | | 2.21 | % | | | 2.21 | %(e) | | | 0.82 | % | | $ | 8,009 | | | | 32 | % |
| Year Ended July 31, 2022 | | $ | 56.72 | | | | 0.08 | | | | (11.46 | ) | | | (11.38 | ) | | | — | | | | — | | | $ | 45.34 | | | | (20.05 | )% | | | 1.71 | % | | | 1.71 | % | | | 0.13 | % | | $ | 7,788 | | | | 73 | % |
| Year Ended July 31, 2021 | | $ | 28.48 | | | | 0.23 | | | | 28.01 | | | | 28.24 | | | | — | | | | — | | | $ | 56.72 | | | | 99.16 | % | | | 1.53 | % | | | 1.53 | % | | | 0.43 | % | | $ | 122,655 | | | | 144 | % |
| Year Ended July 31, 2020 | | $ | 50.38 | | | | 0.47 | | | | (22.14 | ) | | | (21.67 | ) | | | (0.23 | ) | | | (0.23 | ) | | $ | 28.48 | | | | (43.26 | )% | | | 1.72 | % | | | 1.72 | % | | | 1.00 | % | | $ | 7,348 | | | | 260 | % |
| Year Ended July 31, 2019 | | $ | 54.83 | | | | 0.42 | | | | (4.28 | ) | | | (3.86 | ) | | | (0.59 | ) | | | (0.59 | ) | | $ | 50.38 | | | | (6.69 | )% | | | 1.80 | % | | | 1.80 | % | | | 0.88 | % | | $ | 9,484 | | | | 75 | % |
| Year Ended July 31, 2018 | | $ | 44.79 | | | | 0.16 | | | | 9.88 | | | | 10.04 | | | | — | | | | — | | | $ | 54.83 | | | | 22.39 | % | | | 1.54 | % | | | 1.54 | % | | | 0.30 | % | | $ | 18,887 | | | | 293 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 41.14 | | | | (0.02 | ) | | | 3.42 | | | | 3.40 | | | | — | | | | — | | | $ | 44.54 | | | | 8.24 | % | | | 3.21 | % | | | 3.21 | %(e) | | | (0.18 | )% | | $ | 381 | | | | 32 | % |
| Year Ended July 31, 2022 | | $ | 51.99 | | | | (0.48 | ) | | | (10.37 | ) | | | (10.85 | ) | | | — | | | | — | | | $ | 41.14 | | | | (20.85 | )% | | | 2.71 | % | | | 2.71 | % | | | (0.87 | )% | | $ | 452 | | | | 73 | % |
| Year Ended July 31, 2021 | | $ | 26.38 | | | | (0.19 | ) | | | 25.80 | | | | 25.61 | | | | — | | | | — | | | $ | 51.99 | | | | 97.08 | % | | | 2.53 | % | | | 2.53 | % | | | (0.57 | )% | | $ | 925 | | | | 144 | % |
| Year Ended July 31, 2020 | | $ | 46.98 | | | | 0.13 | | | | (20.73 | ) | | | (20.60 | ) | | | — | | | | — | | | $ | 26.38 | | | | (43.84 | )% | | | 2.72 | % | | | 2.72 | % | | | — | %(f) | | $ | 300 | | | | 260 | % |
| Year Ended July 31, 2019 | | $ | 50.85 | | | | (0.03 | ) | | | (3.84 | ) | | | (3.87 | ) | | | — | | | | — | | | $ | 46.98 | | | | (7.63 | )% | | | 2.80 | % | | | 2.80 | % | | | (0.12 | )% | | $ | 769 | | | | 75 | % |
| Year Ended July 31, 2018 | | $ | 41.95 | | | | (0.33 | ) | | | 9.23 | | | | 8.90 | | | | — | | | | — | | | $ | 50.85 | | | | 21.22 | % | | | 2.54 | % | | | 2.54 | % | | | (0.70 | )% | | $ | 964 | | | | 293 | % |
| Bear ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 16.01 | | | | 0.11 | | | | (0.04 | )(g) | | | 0.07 | | | | — | | | | — | | | $ | 16.08 | | | | 0.44 | % | | | 1.84 | % | | | 1.83 | % | | | 1.34 | % | | $ | 11,393 | | | | — | |
| Year Ended July 31, 2022 | | $ | 16.01 | | | | (0.18 | ) | | | 0.18 | | | | — | (h) | | | — | | | | — | | | $ | 16.01 | | | | — | %(f) | | | 1.64 | % | | | 1.64 | % | | | (1.13 | )% | | $ | 12,126 | | | | — | |
| Year Ended July 31, 2021 | | $ | 22.67 | | | | (0.33 | ) | | | (6.32 | ) | | | (6.65 | ) | | | (0.01 | ) | | | (0.01 | ) | | $ | 16.01 | | | | (29.33 | )% | | | 1.74 | % | | | 1.74 | % | | | (1.73 | )% | | $ | 9,799 | | | | — | |
| Year Ended July 31, 2020 | | $ | 28.37 | | | | (0.25 | ) | | | (5.38 | ) | | | (5.63 | ) | | | (0.07 | ) | | | (0.07 | ) | | $ | 22.67 | | | | (19.87 | )% | | | 1.86 | % | | | 1.86 | % | | | (0.95 | )% | | $ | 15,698 | | | | — | |
| Year Ended July 31, 2019 | | $ | 30.45 | | | | 0.14 | | | | (2.22 | ) | | | (2.08 | ) | | | — | | | | — | | | $ | 28.37 | | | | (6.83 | )% | | | 1.77 | % | | | 1.77 | % | | | 0.48 | % | | $ | 19,388 | | | | — | |
| Year Ended July 31, 2018 | | $ | 35.46 | | | | (0.11 | ) | | | (4.90 | ) | | | (5.01 | ) | | | — | | | | — | | | $ | 30.45 | | | | (14.13 | )% | | | 1.59 | % | | | 1.59 | % | | | (0.34 | )% | | $ | 12,790 | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 14.42 | | | | 0.04 | | | | (0.05 | )(g) | | | (0.01 | ) | | | — | | | | — | | | $ | 14.41 | | | | (0.07 | )% | | | 2.84 | % | | | 2.83 | % | | | 0.34 | % | | $ | 1,116 | | | | — | |
| Year Ended July 31, 2022 | | $ | 14.56 | | | | (0.33 | ) | | | 0.19 | | | | (0.14 | ) | | | — | | | | — | | | $ | 14.42 | | | | (0.96 | )% | | | 2.64 | % | | | 2.64 | % | | | (2.13 | )% | | $ | 564 | | | | — | |
| Year Ended July 31, 2021 | | $ | 20.82 | | | | (0.51 | ) | | | (5.75 | ) | | | (6.26 | ) | | | — | | | | — | | | $ | 14.56 | | | | (30.07 | )% | | | 2.74 | % | | | 2.74 | % | | | (2.73 | )% | | $ | 789 | | | | — | |
| Year Ended July 31, 2020 | | $ | 26.23 | | | | (0.50 | ) | | | (4.91 | ) | | | (5.41 | ) | | | — | | | | — | | | $ | 20.82 | | | | (20.63 | )% | | | 2.86 | % | | | 2.86 | % | | | (1.95 | )% | | $ | 677 | | | | — | |
| Year Ended July 31, 2019 | | $ | 28.44 | | | | (0.14 | ) | | | (2.07 | ) | | | (2.21 | ) | | | — | | | | — | | | $ | 26.23 | | | | (7.77 | )% | | | 2.77 | % | | | 2.77 | % | | | (0.52 | )% | | $ | 761 | | | | — | |
| Year Ended July 31, 2018 | | $ | 33.46 | | | | (0.42 | ) | | | (4.60 | ) | | | (5.02 | ) | | | — | | | | — | | | $ | 28.44 | | | | (15.00 | )% | | | 2.59 | % | | | 2.59 | % | | | (1.34 | )% | | $ | 659 | | | | — | |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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. |
| (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) | Amount is less than 0.005% |
| (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) | Amount is less than $0.005. |
See accompanying notes to the financial statements.
Financial Highlights :: 247
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 | | | | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | | Total
Return(b) | | | Gross
Expenses(c) | | | Net
Expenses(c) | | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(b)(d) | |
| Biotechnology UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 56.74 | | | | 0.07 | | | | 3.67 | | | | 3.74 | | | | — | | | | — | | | | — | | | $ | 60.48 | | | | 6.57 | % | | | 1.55 | % | | | 1.55 | % | | | 0.24 | % | | $ | 118,743 | | | | 2 | % |
| Year Ended July 31, 2022 | | $ | 85.26 | | | | (0.24 | ) | | | (15.49 | ) | | | (15.73 | ) | | | — | | | | (12.79 | ) | | | (12.79 | ) | | $ | 56.74 | | | | (20.96 | )% | | | 1.49 | % | | | 1.49 | % | | | (0.37 | )% | | $ | 119,791 | | | | 28 | % |
| Year Ended July 31, 2021 | | $ | 72.23 | | | | (0.27 | ) | | | 21.37 | | | | 21.10 | | | | — | | | | (8.07 | ) | | | (8.07 | ) | | $ | 85.26 | | | | 32.02 | % | | | 1.55 | % | | | 1.55 | % | | | (0.37 | )% | | $ | 168,280 | | | | 62 | % |
| Year Ended July 31, 2020 | | $ | 51.90 | | | | (0.06 | ) | | | 22.42 | | | | 22.36 | | | | — | | | | (2.03 | ) | | | (2.03 | ) | | $ | 72.23 | | | | 43.62 | % | | | 1.61 | % | | | 1.61 | % | | | (0.10 | )% | | $ | 188,065 | | | | 52 | % |
| Year Ended July 31, 2019 | | $ | 66.16 | | | | 0.11 | | | | (11.50 | ) | | | (11.39 | ) | | | — | | | | (2.87 | ) | | | (2.87 | ) | | $ | 51.90 | | | | (17.10 | )% | | | 1.52 | % | | | 1.52 | % | | | 0.19 | % | | $ | 161,970 | | | | 23 | % |
| Year Ended July 31, 2018 | | $ | 63.85 | | | | (0.05 | ) | | | 6.85 | | | | 6.80 | | | | — | | | | (4.49 | ) | | | (4.49 | ) | | $ | 66.16 | | | | 10.94 | % | | | 1.43 | % | | | 1.43 | % | | | (0.08 | )% | | $ | 246,238 | | | | 11 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 37.83 | | | | (0.12 | ) | | | 2.41 | | | | 2.29 | | | | — | | | | — | | | | — | | | $ | 40.12 | | | | 6.03 | % | | | 2.55 | % | | | 2.55 | % | | | (0.76 | )% | | $ | 3,172 | | | | 2 | % |
| Year Ended July 31, 2022 | | $ | 61.86 | | | | (0.71 | ) | | | (10.53 | ) | | | (11.24 | ) | | | — | | | | (12.79 | ) | | | (12.79 | ) | | $ | 37.83 | | | | (21.75 | )% | | | 2.49 | % | | | 2.49 | % | | | (1.37 | )% | | $ | 3,734 | | | | 28 | % |
| Year Ended July 31, 2021 | | $ | 55.00 | | | | (0.80 | ) | | | 15.73 | | | | 14.93 | | | | — | | | | (8.07 | ) | | | (8.07 | ) | | $ | 61.86 | | | | 30.74 | % | | | 2.54 | % | | | 2.54 | % | | | (1.36 | )% | | $ | 5,358 | | | | 62 | % |
| Year Ended July 31, 2020 | | $ | 40.29 | | | | (0.52 | ) | | | 17.26 | | | | 16.74 | | | | — | | | | (2.03 | ) | | | (2.03 | ) | | $ | 55.00 | | | | 42.20 | % | | | 2.60 | % | | | 2.60 | % | | | (1.09 | )% | | $ | 5,999 | | | | 52 | % |
| Year Ended July 31, 2019 | | $ | 52.66 | | | | (0.35 | ) | | | (9.15 | ) | | | (9.50 | ) | | | — | | | | (2.87 | ) | | | (2.87 | ) | | $ | 40.29 | | | | (17.93 | )% | | | 2.52 | % | | | 2.52 | % | | | (0.80 | )% | | $ | 5,559 | | | | 23 | % |
| Year Ended July 31, 2018 | | $ | 52.18 | | | | (0.58 | ) | | | 5.55 | | | | 4.97 | | | | — | | | | (4.49 | ) | | | (4.49 | ) | | $ | 52.66 | | | | 9.83 | % | | | 2.43 | % | | | 2.43 | % | | | (1.08 | )% | | $ | 9,183 | | | | 11 | % |
| Bull ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 52.89 | | | | 0.12 | | | | (0.94 | ) | | | (0.82 | ) | | | — | | | | (0.48 | ) | | | (0.48 | ) | | $ | 51.59 | | | | (1.49 | )% | | | 1.68 | % | | | 1.68 | % | | | 0.51 | % | | $ | 31,503 | | | | 97 | % |
| Year Ended July 31, 2022 | | $ | 61.91 | | | | (0.27 | ) | | | (3.27 | ) | | | (3.54 | ) | | | — | | | | (5.48 | ) | | | (5.48 | ) | | $ | 52.89 | | | | (6.39 | )% | | | 1.50 | % | | | 1.50 | % | | | (0.49 | )% | | $ | 33,168 | | | | 58 | % |
| Year Ended July 31, 2021 | | $ | 48.91 | | | | (0.24 | ) | | | 16.31 | | | | 16.07 | | | | (0.16 | ) | | | (2.91 | ) | | | (3.07 | ) | | $ | 61.91 | | | | 34.03 | % | | | 1.55 | % | | | 1.55 | % | | | (0.45 | )% | | $ | 56,064 | | | | 15 | % |
| Year Ended July 31, 2020(e) | | $ | 45.33 | | | | (0.01 | ) | | | 4.39 | | | | 4.38 | | | | (0.18 | ) | | | (0.62 | ) | | | (0.80 | ) | | $ | 48.91 | | | | 9.68 | % | | | 1.63 | % | | | 1.63 | % | | | (0.01 | )% | | $ | 72,210 | | | | 84 | % |
| Year Ended July 31, 2019(e) | | $ | 42.99 | | | | 0.23 | | | | 2.35 | | | | 2.58 | | | | — | | | | (0.24 | ) | | | (0.24 | ) | | $ | 45.33 | | | | 5.99 | % | | | 1.54 | % | | | 1.54 | % | | | 0.54 | % | | $ | 61,121 | | | | 3 | % |
| Year Ended July 31, 2018(e) | | $ | 37.65 | | | | 0.08 | | | | 5.26 | | | | 5.34 | | | | — | | | | — | | | | — | | | $ | 42.99 | | | | 14.20 | % | | | 1.44 | % | | | 1.44 | % | | | 0.21 | % | | $ | 47,074 | | | | 26 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 41.09 | | | | (0.07 | ) | | | (0.74 | ) | | | (0.81 | ) | | | — | | | | (0.48 | ) | | | (0.48 | ) | | $ | 39.80 | | | | (1.92 | )% | | | 2.68 | % | | | 2.68 | % | | | (0.49 | )% | | $ | 4,299 | | | | 97 | % |
| Year Ended July 31, 2022 | | $ | 49.77 | | | | (0.72 | ) | | | (2.48 | ) | | | (3.20 | ) | | | — | | | | (5.48 | ) | | | (5.48 | ) | | $ | 41.09 | | | | (7.32 | )% | | | 2.50 | % | | | 2.50 | % | | | (1.49 | )% | | $ | 10,669 | | | | 58 | % |
| Year Ended July 31, 2021 | | $ | 40.09 | | | | (0.68 | ) | | | 13.27 | | | | 12.59 | | | | — | | | | (2.91 | ) | | | (2.91 | ) | | $ | 49.77 | | | | 32.73 | % | | | 2.55 | % | | | 2.55 | % | | | (1.45 | )% | | $ | 7,148 | | | | 15 | % |
| Year Ended July 31, 2020(e) | | $ | 37.50 | | | | (0.38 | ) | | | 3.59 | | | | 3.21 | | | | — | | | | (0.62 | ) | | | (0.62 | ) | | $ | 40.09 | | | | 8.57 | % | | | 2.63 | % | | | 2.63 | % | | | (1.01 | )% | | $ | 5,327 | | | | 84 | % |
| Year Ended July 31, 2019(e) | | $ | 35.96 | | | | (0.12 | ) | | | 1.90 | | | | 1.78 | | | | — | | | | (0.24 | ) | | | (0.24 | ) | | $ | 37.50 | | | | 4.93 | % | | | 2.54 | % | | | 2.54 | % | | | (0.45 | )% | | $ | 4,232 | | | | 3 | % |
| Year Ended July 31, 2018(e) | | $ | 31.80 | | | | (0.25 | ) | | | 4.41 | | | | 4.16 | | | | — | | | | — | | | | — | | | $ | 35.96 | | | | 13.08 | % | | | 2.43 | % | | | 2.43 | % | | | (0.78 | )% | | $ | 4,676 | | | | 26 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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. |
| (e) | As described in Note 9, share amounts have been adjusted for 3:1 share split that occurred on November 18, 2019. |
See accompanying notes to the financial statements.
248 :: 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 | | | | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | | Total
Return(b) | | | Gross
Expenses(c) | | | Net
Expenses(c) | | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(b)(d) | |
| Communication Services UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 93.36 | | | | (0.07 | ) | | | (5.66 | ) | | | (5.73 | ) | | | — | | | | — | | | | — | | | $ | 87.63 | | | | (6.14 | )% | | | 2.56 | % | | | 1.78 | % | | | (0.17 | )% | | $ | 3,991 | | | | 63 | % |
| Year Ended July 31, 2022 | | $ | 172.73 | | | | (1.45 | ) | | | (76.75 | ) | | | (78.20 | ) | | | — | | | | (1.17 | )(e) | | | (1.17 | ) | | $ | 93.36 | | | | (45.54 | )% | | | 1.94 | % | | | 1.78 | % | | | (1.04 | )% | | $ | 4,623 | | | | 63 | % |
| Year Ended July 31, 2021 | | $ | 104.67 | | | | (1.61 | ) | | | 69.67 | | | | 68.06 | | | | — | | | | — | | | | — | | | $ | 172.73 | | | | 65.05 | % | | | 1.91 | % | | | 1.82 | % | | | (1.17 | )% | | $ | 11,327 | | | | 138 | % |
| Year Ended July 31, 2020 | | $ | 92.86 | | | | (0.99 | ) | | | 15.68 | | | | 14.69 | | | | (2.88 | ) | | | — | | | | (2.88 | ) | | $ | 104.67 | | | | 16.07 | % | | | 2.37 | % | | | 2.11 | %(f) | | | (1.08 | )% | | $ | 5,587 | | | | 82 | % |
| Year Ended July 31, 2019 | | $ | 72.76 | | | | 2.15 | | | | 17.95 | | | | 20.10 | | | | — | | | | — | | | | — | | | $ | 92.86 | | | | 27.62 | % | | | 1.62 | % | | | 1.62 | % | | | 2.51 | % | | $ | 10,109 | | | | 805 | % |
| Year Ended July 31, 2018 | | $ | 72.31 | | | | 0.03 | | | | 0.42 | | | | 0.45 | | | | — | | | | — | | | | — | | | $ | 72.76 | | | | 0.62 | % | | | 2.22 | % | | | 1.78 | % | | | 0.05 | % | | $ | 5,680 | | | | 818 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 75.03 | | | | (0.39 | ) | | | (4.50 | ) | | | (4.89 | ) | | | — | | | | — | | | | — | | | $ | 70.14 | | | | (6.57 | )% | | | 3.56 | % | | | 2.78 | % | | | (1.17 | )% | | $ | 108 | | | | 63 | % |
| Year Ended July 31, 2022 | | $ | 140.52 | | | | (2.58 | ) | | | (61.74 | ) | | | (64.32 | ) | | | — | | | | (1.17 | )(e) | | | (1.17 | ) | | $ | 75.03 | | | | (46.09 | )% | | | 2.94 | % | | | 2.78 | % | | | (2.04 | )% | | $ | 106 | | | | 63 | % |
| Year Ended July 31, 2021 | | $ | 85.98 | | | | (2.72 | ) | | | 57.26 | | | | 54.54 | | | | — | | | | — | | | | — | | | $ | 140.52 | | | | 63.43 | % | | | 2.91 | % | | | 2.82 | % | | | (2.17 | )% | | $ | 205 | | | | 138 | % |
| Year Ended July 31, 2020 | | $ | 76.53 | | | | (1.74 | ) | | | 12.99 | | | | 11.25 | | | | (1.80 | ) | | | — | | | | (1.80 | ) | | $ | 85.98 | | | | 14.89 | % | | | 3.37 | % | | | 3.11 | %(f) | | | (2.08 | )% | | $ | 153 | | | | 82 | % |
| Year Ended July 31, 2019 | | $ | 60.55 | | | | 1.45 | | | | 14.53 | | | | 15.98 | | | | — | | | | — | | | | — | | | $ | 76.53 | | | | 26.35 | % | | | 2.62 | % | | | 2.62 | % | | | 1.51 | % | | $ | 166 | | | | 805 | % |
| Year Ended July 31, 2018 | | $ | 60.80 | | | | (0.54 | ) | | | 0.29 | | | | (0.25 | ) | | | — | | | | — | | | | — | | | $ | 60.55 | | | | (0.38 | )% | | | 3.22 | % | | | 2.78 | % | | | (0.95 | )% | | $ | 123 | | | | 818 | % |
| Consumer Discretionary UltraSector ProFund* | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 45.84 | | | | (0.04 | ) | | | (0.86 | ) | | | (0.90 | ) | | | — | | | | — | | | | — | | | $ | 44.94 | | | | (1.98 | )% | | | 1.69 | % | | | 1.69 | % | | | (0.17 | )% | | $ | 28,117 | | | | 2 | % |
| Year Ended July 31, 2022 | | $ | 72.77 | | | | (0.53 | ) | | | (20.66 | ) | | | (21.19 | ) | | | — | | | | (5.74 | ) | | | (5.74 | ) | | $ | 45.84 | | | | (31.68 | )% | | | 1.54 | % | | | 1.54 | % | | | (0.86 | )% | | $ | 30,510 | | | | 31 | % |
| Year Ended July 31, 2021 | | $ | 54.08 | | | | (0.64 | ) | | | 21.74 | | | | 21.10 | | | | — | | | | (2.41 | ) | | | (2.41 | ) | | $ | 72.77 | | | | 39.66 | % | | | 1.56 | % | | | 1.56 | % | | | (0.97 | )% | | $ | 76,287 | | | | 130 | % |
| Year Ended July 31, 2020(g) | | $ | 46.43 | | | | (0.24 | ) | | | 7.89 | | | | 7.65 | | | | — | | | | — | | | | — | | | $ | 54.08 | | | | 16.47 | % | | | 1.67 | % | | | 1.67 | % | | | (0.53 | )% | | $ | 44,827 | | | | 80 | % |
| Year Ended July 31, 2019(g) | | $ | 43.14 | | | | (0.06 | ) | | | 5.21 | | | | 5.15 | | | | — | | | | (1.86 | ) | | | (1.86 | ) | | $ | 46.43 | | | | 13.46 | % | | | 1.57 | % | | | 1.57 | % | | | (0.13 | )% | | $ | 90,523 | | | | 106 | % |
| Year Ended July 31, 2018(f) | | $ | 34.40 | | | | (0.09 | ) | | | 9.58 | | | | 9.49 | | | | — | | | | (0.75 | ) | | | (0.75 | ) | | $ | 43.14 | | | | 27.92 | % | | | 1.52 | % | | | 1.52 | % | | | (0.22 | )% | | $ | 131,835 | | | | 35 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 37.32 | | | | (0.21 | ) | | | (0.71 | ) | | | (0.92 | ) | | | — | | | | — | | | | — | | | $ | 36.40 | | | | (2.47 | )% | | | 2.69 | % | | | 2.69 | % | | | (1.17 | )% | | $ | 511 | | | | 2 | % |
| Year Ended July 31, 2022 | | $ | 60.86 | | | | (1.04 | ) | | | (16.76 | ) | | | (17.80 | ) | | | — | | | | (5.74 | ) | | | (5.74 | ) | | $ | 37.32 | | | | (32.37 | )% | | | 2.54 | % | | | 2.54 | % | | | (1.86 | )% | | $ | 615 | | | | 31 | % |
| Year Ended July 31, 2021 | | $ | 45.99 | | | | (1.19 | ) | | | 18.47 | | | | 17.28 | | | | — | | | | (2.41 | ) | | | (2.41 | ) | | $ | 60.86 | | | | 38.29 | % | | | 2.56 | % | | | 2.56 | % | | | (1.97 | )% | | $ | 1,594 | | | | 130 | % |
| Year Ended July 31, 2020(g) | | $ | 39.89 | | | | (0.63 | ) | | | 6.73 | | | | 6.10 | | | | — | | | | — | | | | — | | | $ | 45.99 | | | | 15.30 | % | | | 2.67 | % | | | 2.67 | % | | | (1.53 | )% | | $ | 1,595 | | | | 80 | % |
| Year Ended July 31, 2019(g) | | $ | 37.73 | | | | (0.43 | ) | | | 4.45 | | | | 4.02 | | | | — | | | | (1.86 | ) | | | (1.86 | ) | | $ | 39.89 | | | | 12.34 | % | | | 2.57 | % | | | 2.57 | % | | | (1.13 | )% | | $ | 2,524 | | | | 106 | % |
| Year Ended July 31, 2018(g) | | $ | 30.47 | | | | (0.43 | ) | | | 8.44 | | | | 8.01 | | | | — | | | | (0.75 | ) | | | (0.75 | ) | | $ | 37.73 | | | | 26.64 | % | | | 2.52 | % | | | 2.52 | % | | | (1.22 | )% | | $ | 5,163 | | | | 35 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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. |
| (e) | Subsequent to the issuance of the July 31, 2022 financial statements, $0.12 of the distributution was determined to be a return of capital. |
| (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 have been adjusted for 3:1 share split that occurred on November 18, 2019. |
| * | As described in Note 11, effective March 17, 2023, this ProFund's name changed due to a change to its underlying benchmark index. |
See accompanying notes to the financial statements.
Financial Highlights :: 249
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 | | | | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | | Total
Return(b) | | | Gross
Expenses(c) | | | Net
Expenses(c) | | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(b)(d) | |
| Consumer Staples UltraSector ProFund* | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 83.25 | | | | 0.21 | | | | (12.13 | ) | | | (11.92 | ) | | | — | | | | — | | | | — | | | $ | 71.33 | | | | (14.33 | )% | | | 2.58 | % | | | 1.78 | % | | | 0.59 | % | | $ | 3,728 | | | | 104 | % |
| Year Ended July 31, 2022 | | $ | 91.85 | | | | (0.44 | ) | | | (3.77 | ) | | | (4.21 | ) | | | — | | | | (4.39 | ) | | | (4.39 | ) | | $ | 83.25 | | | | (5.34 | )% | | | 1.88 | % | | | 1.78 | % | | | (0.48 | )% | | $ | 3,965 | | | | 142 | % |
| Year Ended July 31, 2021(e) | | $ | 59.24 | | | | (0.31 | ) | | | 32.92 | | | | 32.61 | | | | — | | | | — | | | | — | | | $ | 91.85 | | | | 55.06 | % | | | 1.88 | % | | | 1.78 | % | | | (0.40 | )% | | $ | 4,950 | | | | 209 | % |
| Year Ended July 31, 2020(e) | | $ | 53.09 | | | | 0.23 | | | | 7.52 | | | | 7.75 | | | | — | | | | (1.60 | ) | | | (1.60 | ) | | $ | 59.24 | | | | 14.68 | % | | | 2.08 | % | | | 1.78 | % | | | 0.44 | % | | $ | 7,596 | | | | 162 | % |
| Year Ended July 31, 2019(e) | | $ | 51.20 | | | | 0.07 | | | | 2.51 | | | | 2.58 | | | | (0.69 | ) | | | — | | | | (0.69 | ) | | $ | 53.09 | | | | 5.40 | % | | | 2.11 | % | | | 1.91 | % | | | 0.15 | % | | $ | 4,495 | | | | 46 | % |
| Year Ended July 31, 2018(e) | | $ | 53.04 | | | | 0.23 | | | | (1.15 | ) | | | (0.92 | ) | | | (0.04 | ) | | | (0.88 | ) | | | (0.92 | ) | | $ | 51.20 | | | | (1.87 | )% | | | 1.89 | % | | | 1.83 | % | | | 0.44 | % | | $ | 5,321 | | | | 155 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 72.87 | | | | (0.10 | ) | | | (10.64 | ) | | | (10.74 | ) | | | — | | | | — | | | | — | | | $ | 62.13 | | | | (14.76 | )% | | | 3.57 | % | | | 2.77 | % | | | (0.40 | )% | | $ | 147 | | | | 104 | % |
| Year Ended July 31, 2022 | | $ | 81.66 | | | | (1.27 | ) | | | (3.13 | ) | | | (4.40 | ) | | | — | | | | (4.39 | ) | | | (4.39 | ) | | $ | 72.87 | | | | (6.25 | )% | | | 2.88 | % | | | 2.78 | % | | | (1.48 | )% | | $ | 241 | | | | 142 | % |
| Year Ended July 31, 2021(e) | | $ | 53.19 | | | | (1.01 | ) | | | 29.48 | | | | 28.47 | | | | — | | | | — | | | | — | | | $ | 81.66 | | | | 53.53 | % | | | 2.88 | % | | | 2.78 | % | | | (1.40 | )% | | $ | 441 | | | | 209 | % |
| Year Ended July 31, 2020(e) | | $ | 48.29 | | | | (0.25 | ) | | | 6.75 | | | | 6.50 | | | | — | | | | (1.60 | ) | | | (1.60 | ) | | $ | 53.19 | | | | 13.53 | % | | | 3.08 | % | | | 2.78 | % | | | (0.56 | )% | | $ | 457 | | | | 162 | % |
| Year Ended July 31, 2019(e) | | $ | 46.44 | | | | (0.37 | ) | | | 2.36 | | | | 1.99 | | | | (0.14 | ) | | | — | | | | (0.14 | ) | | $ | 48.29 | | | | 4.38 | % | | | 3.09 | % | | | 2.89 | % | | | (0.83 | )% | | $ | 391 | | | | 46 | % |
| Year Ended July 31, 2018(e) | | $ | 48.62 | | | | (0.25 | ) | | | (1.05 | ) | | | (1.30 | ) | | | — | | | | (0.88 | ) | | | (0.88 | ) | | $ | 46.44 | | | | (2.85 | )% | | | 2.89 | % | | | 2.83 | % | | | (0.56 | )% | | $ | 699 | | | | 155 | % |
| Energy UltraSector ProFund* | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 38.26 | | | | 0.47 | | | | 7.41 | | | | 7.88 | | | | (0.77 | ) | | | (0.43 | ) | | | (1.20 | ) | | $ | 44.94 | | | | 20.78 | % | | | 1.54 | % | | | 1.54 | % | | | 2.21 | % | | $ | 52,404 | | | | 158 | % |
| Year Ended July 31, 2022 | | $ | 19.35 | | | | 0.44 | | | | 18.84 | | | | 19.28 | | | | (0.37 | ) | | | — | | | | (0.37 | ) | | $ | 38.26 | | | | 100.88 | % | | | 1.51 | % | | | 1.51 | % | | | 1.47 | % | | $ | 42,754 | | | | 117 | % |
| Year Ended July 31, 2021 | | $ | 11.97 | | | | 0.23 | | | | 7.38 | | | | 7.61 | | | | (0.23 | ) | | | — | | | | (0.23 | ) | | $ | 19.35 | | | | 64.47 | % | | | 1.64 | % | | | 1.64 | % | | | 1.36 | % | | $ | 29,753 | | | | 239 | % |
| Year Ended July 31, 2020 | | $ | 29.28 | | | | 0.29 | | | | (17.22 | ) | | | (16.93 | ) | | | (0.38 | ) | | | — | | | | (0.38 | ) | | $ | 11.97 | | | | (58.57 | )% | | | 1.87 | % | | | 1.87 | % | | | 1.61 | % | | $ | 11,544 | | | | 40 | % |
| Year Ended July 31, 2019 | | $ | 42.24 | | | | 0.37 | | | | (12.87 | ) | | | (12.50 | ) | | | (0.46 | ) | | | — | | | | (0.46 | ) | | $ | 29.28 | | | | (29.45 | )% | | | 1.74 | % | | | 1.74 | % | | | 1.11 | % | | $ | 13,402 | | | | 53 | % |
| Year Ended July 31, 2018 | | $ | 33.39 | | | | 0.29 | | | | 8.88 | | | | 9.17 | | | | (0.32 | ) | | | — | | | | (0.32 | ) | | $ | 42.24 | | | | 27.56 | % | | | 1.56 | % | | | 1.56 | % | | | 0.78 | % | | $ | 43,157 | | | | 152 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 32.52 | | | | 0.29 | | | | 6.22 | | | | 6.51 | | | | (0.26 | ) | | | (0.43 | ) | | | (0.69 | ) | | $ | 38.34 | | | | 20.14 | % | | | 2.54 | % | | | 2.54 | % | | | 1.21 | % | | $ | 2,485 | | | | 158 | % |
| Year Ended July 31, 2022 | | $ | 16.49 | | | | 0.18 | | | | 16.02 | | | | 16.20 | | | | (0.17 | ) | | | — | | | | (0.17 | ) | | $ | 32.52 | | | | 98.87 | % | | | 2.51 | % | | | 2.51 | % | | | 0.47 | % | | $ | 2,284 | | | | 117 | % |
| Year Ended July 31, 2021 | | $ | 10.27 | | | | 0.09 | | | | 6.27 | | | | 6.36 | | | | (0.14 | ) | | | — | | | | (0.14 | ) | | $ | 16.49 | | | | 62.71 | % | | | 2.64 | % | | | 2.64 | % | | | 0.36 | % | | $ | 1,395 | | | | 239 | % |
| Year Ended July 31, 2020 | | $ | 25.07 | | | | 0.14 | | | | (14.88 | ) | | | (14.74 | ) | | | (0.06 | ) | | | — | | | | (0.06 | ) | | $ | 10.27 | | | | (58.92 | )% | | | 2.87 | % | | | 2.87 | % | | | 0.61 | % | | $ | 626 | | | | 40 | % |
| Year Ended July 31, 2019 | | $ | 36.03 | | | | 0.08 | | | | (10.96 | ) | | | (10.88 | ) | | | (0.08 | ) | | | — | | | | (0.08 | ) | | $ | 25.07 | | | | (30.16 | )% | | | 2.74 | % | | | 2.74 | % | | | 0.11 | % | | $ | 730 | | | | 53 | % |
| Year Ended July 31, 2018 | | $ | 28.53 | | | | (0.02 | ) | | | 7.52 | | | | 7.50 | | | | — | | | | — | | | | — | | | $ | 36.03 | | | | 26.29 | % | | | 2.56 | % | | | 2.56 | % | | | (0.22 | )% | | $ | 1,651 | | | | 152 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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. |
| (e) | As described in Note 9, share amounts have been adjusted for 2:1 share split that occurred on December 14, 2020. |
| * | As described in Note 11, effective March 17, 2023, this ProFund's name changed due to a change to its underlying benchmark index. |
See accompanying notes to the financial statements.
250 :: 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 | | | | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | | Total
Return(b) | | | Gross
Expenses(c) | | | Net
Expenses(c) | | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(b)(d) | |
| Europe 30 ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 12.98 | | | | 0.14 | | | | 0.74 | | | | 0.88 | | | | (0.25 | ) | | | (0.25 | ) | | $ | 13.61 | | | | 6.92 | % | | | 2.96 | % | | | 1.78 | % | | | 2.14 | % | | $ | 1,947 | | | | 334 | % |
| Year Ended July 31, 2022 | | $ | 13.97 | | | | 0.23 | | | | (1.10 | ) | | | (0.87 | ) | | | (0.12 | ) | | | (0.12 | ) | | $ | 12.98 | | | | (6.25 | )% | | | 2.32 | % | | | 1.78 | % | | | 1.68 | % | | $ | 4,540 | | | | 954 | % |
| Year Ended July 31, 2021 | | $ | 10.91 | | | | 0.13 | | | | 3.23 | | | | 3.36 | | | | (0.30 | ) | | | (0.30 | ) | | $ | 13.97 | | | | 31.39 | % | | | 2.15 | % | | | 1.78 | % | | | 1.03 | % | | $ | 3,190 | | | | 522 | % |
| Year Ended July 31, 2020 | | $ | 12.56 | | | | 0.16 | | | | (1.70 | ) | | | (1.54 | ) | | | (0.11 | ) | | | (0.11 | ) | | $ | 10.91 | | | | (12.42 | )% | | | 2.20 | % | | | 1.78 | % | | | 1.35 | % | | $ | 4,306 | | | | 1,122 | % |
| Year Ended July 31, 2019 | | $ | 14.58 | | | | 0.25 | | | | (0.86 | ) | | | (0.61 | ) | | | (1.41 | ) | | | (1.41 | ) | | $ | 12.56 | | | | (3.95 | )%(e) | | | 2.23 | % | | | 1.78 | % | | | 1.96 | % | | $ | 4,997 | | | | 1,311 | % |
| Year Ended July 31, 2018 | | $ | 13.99 | | | | 0.17 | | | | 0.56 | | | | 0.73 | | | | (0.14 | ) | | | (0.14 | ) | | $ | 14.58 | | | | 5.30 | %(f) | | | 1.87 | % | | | 1.75 | % | | | 1.19 | % | | $ | 3,109 | | | | 540 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 14.05 | | | | 0.07 | | | | 0.80 | | | | 0.87 | | | | (0.19 | ) | | | (0.19 | ) | | $ | 14.73 | | | | 6.28 | % | | | 3.96 | % | | | 2.78 | % | | | 1.14 | % | | $ | 668 | | | | 334 | % |
| Year Ended July 31, 2022 | | $ | 15.25 | | | | 0.08 | | | | (1.16 | ) | | | (1.08 | ) | | | (0.12 | ) | | | (0.12 | ) | | $ | 14.05 | | | | (7.11 | )% | | | 3.32 | % | | | 2.78 | % | | | 0.68 | % | | $ | 187 | | | | 954 | % |
| Year Ended July 31, 2021 | | $ | 11.90 | | | | (0.01 | ) | | | 3.54 | | | | 3.53 | | | | (0.18 | ) | | | (0.18 | ) | | $ | 15.25 | | | | 30.05 | % | | | 3.15 | % | | | 2.78 | % | | | 0.03 | % | | $ | 212 | | | | 522 | % |
| Year Ended July 31, 2020 | | $ | 13.74 | | | | 0.03 | | | | (1.87 | ) | | | (1.84 | ) | | | — | | | | — | | | $ | 11.90 | | | | (13.46 | )% | | | 3.20 | % | | | 2.78 | % | | | 0.35 | % | | $ | 159 | | | | 1,122 | % |
| Year Ended July 31, 2019 | | $ | 15.32 | | | | 0.11 | | | | (0.83 | ) | | | (0.72 | ) | | | (0.86 | ) | | | (0.86 | ) | | $ | 13.74 | | | | (4.80 | )%(e) | | | 3.23 | % | | | 2.78 | % | | | 0.96 | % | | $ | 265 | | | | 1,311 | % |
| Year Ended July 31, 2018 | | $ | 14.72 | | | | 0.02 | | | | 0.58 | | | | 0.60 | | | | — | | | | — | | | $ | 15.32 | | | | 4.14 | %(f) | | | 2.87 | % | | | 2.75 | % | | | 0.19 | % | | $ | 328 | | | | 540 | % |
| Falling U.S. Dollar ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 13.81 | | | | 0.13 | | | | 0.35 | | | | 0.48 | | | | — | | | | — | | | $ | 14.29 | | | | 3.40 | % | | | 5.74 | % | | | 1.78 | % | | | 1.82 | % | | $ | 3,066 | | | | — | |
| Year Ended July 31, 2022 | | $ | 16.23 | | | | (0.23 | ) | | | (2.19 | ) | | | (2.42 | ) | | | — | | | | — | | | $ | 13.81 | | | | (14.85 | )% | | | 4.94 | % | | | 1.78 | % | | | (1.53 | )% | | $ | 750 | | | | — | |
| Year Ended July 31, 2021 | | $ | 16.41 | | | | (0.29 | ) | | | 0.11 | | | | (0.18 | ) | | | — | | | | — | | | $ | 16.23 | | | | (1.10 | )% | | | 3.20 | % | | | 1.78 | % | | | (1.77 | )% | | $ | 1,240 | | | | — | |
| Year Ended July 31, 2020 | | $ | 15.97 | | | | (0.12 | ) | | | 0.56 | | | | 0.44 | | | | — | | | | — | | | $ | 16.41 | | | | 2.76 | % | | | 5.66 | % | | | 1.78 | % | | | (0.78 | )% | | $ | 1,230 | | | | — | |
| Year Ended July 31, 2019 | | $ | 17.03 | | | | 0.08 | | | | (1.14 | ) | | | (1.06 | ) | | | — | | | | — | | | $ | 15.97 | | | | (6.22 | )% | | | 2.98 | % | | | 1.78 | % | | | 0.48 | % | | $ | 1,000 | | | | — | |
| Year Ended July 31, 2018 | | $ | 17.77 | | | | (0.08 | ) | | | (0.66 | ) | | | (0.74 | ) | | | — | | | | — | | | $ | 17.03 | | | | (4.16 | )% | | | 2.96 | % | | | 1.78 | % | | | (0.44 | )% | | $ | 1,255 | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 12.44 | | | | 0.06 | | | | 0.28 | | | | 0.34 | | | | — | | | | — | | | $ | 12.78 | | | | 2.90 | % | | | 6.74 | % | | | 2.78 | % | | | 0.82 | % | | $ | 25 | | | | — | |
| Year Ended July 31, 2022 | | $ | 14.71 | | | | (0.37 | ) | | | (1.90 | ) | | | (2.27 | ) | | | — | | | | — | | | $ | 12.44 | | | | (15.80 | )% | | | 5.94 | % | | | 2.78 | % | | | (2.53 | )% | | $ | 3 | | | | — | |
| Year Ended July 31, 2021 | | $ | 15.05 | | | | (0.44 | ) | | | 0.10 | | | | (0.34 | ) | | | — | | | | — | | | $ | 14.71 | | | | (2.12 | )% | | | 4.20 | % | | | 2.78 | % | | | (2.77 | )% | | $ | 2 | | | | — | |
| Year Ended July 31, 2020 | | $ | 14.81 | | | | (0.27 | ) | | | 0.51 | | | | 0.24 | | | | — | | | | — | | | $ | 15.05 | | | | 1.82 | % | | | 6.66 | % | | | 2.78 | % | | | (1.78 | )% | | $ | 2 | | | | — | |
| Year Ended July 31, 2019 | | $ | 15.93 | | | | (0.08 | ) | | | (1.04 | ) | | | (1.12 | ) | | | — | | | | — | | | $ | 14.81 | | | | (7.09 | )% | | | 3.98 | % | | | 2.78 | % | | | (0.52 | )% | | $ | 7 | | | | — | |
| Year Ended July 31, 2018 | | $ | 16.78 | | | | (0.24 | ) | | | (0.61 | ) | | | (0.85 | ) | | | — | | | | — | | | $ | 15.93 | | | | (5.07 | )% | | | 3.96 | % | | | 2.78 | % | | | (1.44 | )% | | $ | 744 | | | | — | |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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. |
| (e) | 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%. |
| (f) | 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 :: 251
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 | | | | | | | | | | Ratios to
Average Net Assets | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | | Total
Return(b) | | | Gross
Expenses(c) | | | Net
Expenses(c) | | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(b)(d) | |
| Financials UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 26.94 | | | | 0.04 | | | | 1.84 | | | | 1.88 | | | | — | | | | — | | | | — | | | $ | 28.82 | | | | 7.01 | % | | | 2.17 | % | | | 1.84 | % | | | 0.35 | % | | $ | 5,078 | | | | 21 | % |
| Year Ended July 31, 2022 | | $ | 32.99 | | | | (0.13 | ) | | | (3.52 | ) | | | (3.65 | ) | | | — | | | | (2.40 | )(e) | | | (2.40 | ) | | $ | 26.94 | | | | (12.30 | )% | | | 1.73 | % | | | 1.72 | % | | | (0.41 | )% | | $ | 5,211 | | | | 306 | % |
| Year Ended July 31, 2021 | | $ | 19.18 | | | | (0.11 | ) | | | 13.92 | | | | 13.81 | | | | — | | | | — | | | | — | | | $ | 32.99 | | | | 72.00 | % | | | 1.79 | % | | | 1.75 | % | | | (0.38 | )% | | $ | 11,499 | | | | 650 | % |
| Year Ended July 31, 2020 | | $ | 24.82 | | | | 0.03 | | | | (5.21 | ) | | | (5.18 | ) | | | (0.46 | ) | | | — | | | | (0.46 | ) | | $ | 19.18 | | | | (21.40 | )% | | | 1.87 | % | | | 1.84 | % | | | 0.13 | % | | $ | 4,239 | | | | 271 | % |
| Year Ended July 31, 2019 | | $ | 23.18 | | | | 0.13 | | | | 1.51 | | | | 1.64 | | | | — | | | | — | | | | — | | | $ | 24.82 | | | | 7.07 | % | | | 1.72 | % | | | 1.72 | % | | | 0.56 | % | | $ | 39,881 | | | | 394 | % |
| Year Ended July 31, 2018 | | $ | 19.90 | | | | 0.01 | | | | 3.27 | | | | 3.28 | | | | — | | | | — | | | | — | | | $ | 23.18 | | | | 16.48 | % | | | 1.66 | % | | | 1.66 | % | | | 0.06 | % | | $ | 9,238 | | | | 360 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 22.14 | | | | (0.06 | ) | | | 1.49 | | | | 1.43 | | | | — | | | | — | | | | — | | | $ | 23.57 | | | | 6.46 | % | | | 3.17 | % | | | 2.84 | % | | | (0.65 | )% | | $ | 481 | | | | 21 | % |
| Year Ended July 31, 2022 | | $ | 27.76 | | | | (0.40 | ) | | | (2.82 | ) | | | (3.22 | ) | | | — | | | | (2.40 | )(e) | | | (2.40 | ) | | $ | 22.14 | | | | (13.15 | )% | | | 2.73 | % | | | 2.72 | % | | | (1.41 | )% | | $ | 535 | | | | 306 | % |
| Year Ended July 31, 2021 | | $ | 16.31 | | | | (0.33 | ) | | | 11.78 | | | | 11.45 | | | | — | | | | — | | | | — | | | $ | 27.76 | | | | 70.20 | % | | | 2.79 | % | | | 2.75 | % | | | (1.38 | )% | | $ | 675 | | | | 650 | % |
| Year Ended July 31, 2020 | | $ | 21.11 | | | | (0.16 | ) | | | (4.48 | ) | | | (4.64 | ) | | | (0.16 | ) | | | — | | | | (0.16 | ) | | $ | 16.31 | | | | (22.20 | )% | | | 2.87 | % | | | 2.84 | % | | | (0.87 | )% | | $ | 443 | | | | 271 | % |
| Year Ended July 31, 2019 | | $ | 19.91 | | | | (0.07 | ) | | | 1.27 | | | | 1.20 | | | | — | | | | — | | | | — | | | $ | 21.11 | | | | 5.97 | % | | | 2.72 | % | | | 2.72 | % | | | (0.44 | )% | | $ | 1,326 | | | | 394 | % |
| Year Ended July 31, 2018 | | $ | 17.27 | | | | (0.18 | ) | | | 2.82 | | | | 2.64 | | | | — | | | | — | | | | — | | | $ | 19.91 | | | | 15.34 | % | | | 2.66 | % | | | 2.66 | % | | | (0.94 | )% | | $ | 811 | | | | 360 | % |
| Health Care UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 99.80 | | | | 0.07 | | | | (0.57 | ) | | | (0.50 | ) | | | — | | | | — | | | | — | | | $ | 99.30 | | | | (0.51 | )% | | | 1.77 | % | | | 1.77 | % | | | 0.15 | % | | $ | 16,455 | | | | 33 | % |
| Year Ended July 31, 2022 | | $ | 106.01 | | | | (0.51 | ) | | | (5.70 | ) | | | (6.21 | ) | | | — | | | | — | | | | — | | | $ | 99.80 | | | | (5.85 | )% | | | 1.61 | % | | | 1.61 | % | | | (0.50 | )% | | $ | 16,631 | | | | 110 | % |
| Year Ended July 31, 2021 | | $ | 75.52 | | | | (0.50 | ) | | | 30.99 | | | | 30.49 | | | | — | | | | — | | | | — | | | $ | 106.01 | | | | 40.37 | % | | | 1.73 | % | | | 1.73 | % | | | (0.59 | )% | | $ | 40,753 | | | | 226 | % |
| Year Ended July 31, 2020 | | $ | 61.57 | | | | (0.19 | ) | | | 14.17 | | | | 13.98 | | | | (0.03 | ) | | | — | | | | (0.03 | ) | | $ | 75.52 | | | | 22.71 | % | | | 1.78 | % | | | 1.78 | % | | | (0.28 | )% | | $ | 46,004 | | | | 201 | % |
| Year Ended July 31, 2019 | | $ | 60.66 | | | | 0.10 | | | | 0.83 | | | | 0.93 | | | | (0.02 | ) | | | — | | | | (0.02 | ) | | $ | 61.57 | | | | 1.54 | % | | | 1.58 | % | | | 1.58 | % | | | 0.16 | % | | $ | 14,650 | | | | 226 | % |
| Year Ended July 31, 2018 | | $ | 56.25 | | | | (0.05 | ) | | | 10.27 | | | | 10.22 | | | | — | | | | (5.81 | ) | | | (5.81 | ) | | $ | 60.66 | | | | 19.30 | % | | | 1.56 | % | | | 1.56 | % | | | (0.09 | )% | | $ | 39,320 | | | | 151 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 80.71 | | | | (0.32 | ) | | | (0.48 | ) | | | (0.80 | ) | | | — | | | | — | | | | — | | | $ | 79.91 | | | | (1.00 | )% | | | 2.77 | % | | | 2.77 | % | | | (0.85 | )% | | $ | 1,054 | | | | 33 | % |
| Year Ended July 31, 2022 | | $ | 86.59 | | | | (1.35 | ) | | | (4.53 | ) | | | (5.88 | ) | | | — | | | | — | | | | — | | | $ | 80.71 | | | | (6.79 | )% | | | 2.61 | % | | | 2.61 | % | | | (1.50 | )% | | $ | 1,075 | | | | 110 | % |
| Year Ended July 31, 2021 | | $ | 62.29 | | | | (1.19 | ) | | | 25.49 | | | | 24.30 | | | | — | | | | — | | | | — | | | $ | 86.59 | | | | 39.03 | % | | | 2.71 | % | | | 2.71 | % | | | (1.57 | )% | | $ | 1,213 | | | | 226 | % |
| Year Ended July 31, 2020 | | $ | 51.25 | | | | (0.73 | ) | | | 11.77 | | | | 11.04 | | | | — | | | | — | | | | — | | | $ | 62.29 | | | | 21.54 | % | | | 2.74 | % | | | 2.74 | % | | | (1.24 | )% | | $ | 1,180 | | | | 201 | % |
| Year Ended July 31, 2019 | | $ | 50.97 | | | | (0.40 | ) | | | 0.68 | | | | 0.28 | | | | — | | | | — | | | | — | | | $ | 51.25 | | | | 0.55 | % | | | 2.55 | % | | | 2.55 | % | | | (0.81 | )% | | $ | 1,328 | | | | 226 | % |
| Year Ended July 31, 2018 | | $ | 48.57 | | | | (0.53 | ) | | | 8.74 | | | | 8.21 | | | | — | | | | (5.81 | ) | | | (5.81 | ) | | $ | 50.97 | | | | 18.14 | % | | | 2.55 | % | | | 2.55 | % | | | (1.08 | )% | | $ | 2,230 | | | | 151 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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. |
| (e) | Subsequent to the issuance of the July 31, 2022 financial statements, less than $0.005 of the distribution was determined to be a return of capital. |
See accompanying notes to the financial statements.
252 :: 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 | | | | | | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | | Total
Return(b) | | | Gross
Expenses(c) | | | Net
Expenses(c) | | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(b)(d) | |
| Industrials UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 46.85 | | | | 0.05 | | | | 1.47 | | | | 1.52 | | | | — | | | | — | | | $ | 48.37 | | | | 3.22 | % | | | 2.58 | % | | | 1.78 | % | | | 0.22 | % | | $ | 3,740 | | | | 29 | % |
| Year Ended July 31, 2022 | | $ | 61.05 | | | | (0.40 | ) | | | (11.73 | ) | | | (12.13 | ) | | | (2.07 | )(e) | | | (2.07 | ) | | $ | 46.85 | | | | (20.49 | )% | | | 1.88 | % | | | 1.75 | % | | | (0.70 | )% | | $ | 3,354 | | | | 174 | % |
| Year Ended July 31, 2021 | | $ | 36.50 | | | | (0.44 | ) | | | 24.99 | | | | 24.55 | | | | — | | | | — | | | $ | 61.05 | | | | 67.26 | % | | | 1.86 | % | | | 1.78 | % | | | (0.84 | )% | | $ | 19,362 | | | | 427 | % |
| Year Ended July 31, 2020(f) | | $ | 39.16 | | | | (0.09 | ) | | | (2.57 | ) | | | (2.66 | ) | | | — | | | | — | | | $ | 36.50 | | | | (6.78 | )% | | | 2.12 | % | | | 1.87 | % | | | (0.23 | )% | | $ | 4,033 | | | | 57 | % |
| Year Ended July 31, 2019(f) | | $ | 36.86 | | | | (0.04 | ) | | | 2.34 | | | | 2.30 | | | | — | | | | — | | | $ | 39.16 | | | | 6.22 | % | | | 1.84 | % | | | 1.84 | % | | | (0.10 | )% | | $ | 9,520 | | | | 485 | % |
| Year Ended July 31, 2018(f) | | $ | 31.94 | | | | (0.04 | ) | | | 6.39 | | | | 6.35 | | | | (1.43 | ) | | | (1.43 | ) | | $ | 36.86 | | | | 20.04 | % | | | 1.63 | % | | | 1.63 | % | | | (0.12 | )% | | $ | 7,850 | | | | 240 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 39.45 | | | | (0.14 | ) | | | 1.20 | | | | 1.06 | | | | — | | | | — | | | $ | 40.51 | | | | 2.66 | % | | | 3.58 | % | | | 2.78 | % | | | (0.78 | )% | | $ | 286 | | | | 29 | % |
| Year Ended July 31, 2022 | | $ | 52.23 | | | | (0.85 | ) | | | (9.86 | ) | | | (10.71 | ) | | | (2.07 | )(e) | | | (2.07 | ) | | $ | 39.45 | | | | (21.29 | )% | | | 2.88 | % | | | 2.75 | % | | | (1.70 | )% | | $ | 276 | | | | 174 | % |
| Year Ended July 31, 2021 | | $ | 31.55 | | | | (0.89 | ) | | | 21.57 | | | | 20.68 | | | | — | | | | — | | | $ | 52.23 | | | | 65.58 | % | | | 2.86 | % | | | 2.78 | % | | | (1.84 | )% | | $ | 404 | | | | 427 | % |
| Year Ended July 31, 2020(f) | | $ | 34.18 | | | | (0.42 | ) | | | (2.21 | ) | | | (2.63 | ) | | | — | | | | — | | | $ | 31.55 | | | | (7.69 | )% | | | 3.12 | % | | | 2.87 | % | | | (1.23 | )% | | $ | 226 | | | | 57 | % |
| Year Ended July 31, 2019(f) | | $ | 32.50 | | | | (0.35 | ) | | | 2.03 | | | | 1.68 | | | | — | | | | — | | | $ | 34.18 | | | | 5.16 | % | | | 2.84 | % | | | 2.84 | % | | | (1.10 | )% | | $ | 962 | | | | 485 | % |
| Year Ended July 31, 2018(f) | | $ | 28.59 | | | | (0.35 | ) | | | 5.69 | | | | 5.34 | | | | (1.43 | ) | | | (1.43 | ) | | $ | 32.50 | | | | 18.83 | % | | | 2.63 | % | | | 2.63 | % | | | (1.12 | )% | | $ | 510 | | | | 240 | % |
| Internet UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 28.60 | | | | (0.09 | ) | | | (1.21 | ) | | | (1.30 | ) | | | — | | | | — | | | $ | 27.30 | | | | (4.55 | )% | | | 1.62 | % | | | 1.62 | % | | | (0.69 | )% | | $ | 67,654 | | | | 13 | % |
| Year Ended July 31, 2022 | | $ | 79.79 | | | | (0.68 | ) | | | (39.88 | ) | | | (40.56 | ) | | | (10.63 | ) | | | (10.63 | ) | | $ | 28.60 | | | | (57.90 | )% | | | 1.48 | % | | | 1.48 | % | | | (1.28 | )% | | $ | 76,762 | | | | 26 | % |
| Year Ended July 31, 2021(g) | | $ | 66.20 | | | | (0.95 | ) | | | 28.88 | | | | 27.93 | | | | (14.34 | ) | | | (14.34 | ) | | $ | 79.79 | | | | 45.51 | % | | | 1.52 | % | | | 1.52 | % | | | (1.34 | )% | | $ | 224,716 | | | | 55 | % |
| Year Ended July 31, 2020(g) | | $ | 49.72 | | | | (0.46 | ) | | | 17.00 | | | | 16.54 | | | | (0.06 | ) | | | (0.06 | ) | | $ | 66.20 | | | | 33.31 | % | | | 1.60 | % | | | 1.60 | % | | | (0.97 | )% | | $ | 206,228 | | | | 59 | % |
| Year Ended July 31, 2019(g) | | $ | 46.29 | | | | (0.34 | ) | | | 3.78 | | | | 3.43 | | | | — | | | | — | | | $ | 49.72 | | | | 7.43 | % | | | 1.50 | % | | | 1.50 | % | | | (0.75 | )% | | $ | 209,745 | | | | 61 | % |
| Year Ended July 31, 2018(g) | | $ | 32.50 | | | | (0.38 | ) | | | 17.40 | | | | 17.02 | | | | (3.23 | ) | | | (3.23 | ) | | $ | 46.29 | | | | 55.54 | % | | | 1.42 | % | | | 1.42 | % | | | (0.94 | )% | | $ | 275,914 | | | | 69 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 18.65 | | | | (0.17 | ) | | | (0.77 | ) | | | (0.94 | ) | | | — | | | | — | | | $ | 17.71 | | | | (5.04 | )% | | | 2.62 | % | | | 2.62 | % | | | (1.69 | )% | | $ | 3,097 | | | | 13 | % |
| Year Ended July 31, 2022 | | $ | 56.65 | | | | (1.05 | ) | | | (26.32 | ) | | | (27.37 | ) | | | (10.63 | ) | | | (10.63 | ) | | $ | 18.65 | | | | (58.32 | )% | | | 2.48 | % | | | 2.48 | % | | | (2.28 | )% | | $ | 3,642 | | | | 26 | % |
| Year Ended July 31, 2021(g) | | $ | 50.74 | | | | (1.49 | ) | | | 21.74 | | | | 20.25 | | | | (14.34 | ) | | | (14.34 | ) | | $ | 56.65 | | | | 44.07 | % | | | 2.52 | % | | | 2.52 | % | | | (2.34 | )% | | $ | 14,190 | | | | 55 | % |
| Year Ended July 31, 2020(g) | | $ | 38.50 | | | | (0.83 | ) | | | 13.13 | | | | 12.30 | | | | (0.06 | ) | | | (0.06 | ) | | $ | 50.74 | | | | 32.01 | % | | | 2.60 | % | | | 2.60 | % | | | (1.97 | )% | | $ | 9,906 | | | | 59 | % |
| Year Ended July 31, 2019(g) | | $ | 36.20 | | | | (0.70 | ) | | | 3.00 | | | | 2.30 | | | | — | | | | — | | | $ | 38.50 | | | | 6.35 | % | | | 2.50 | % | | | 2.50 | % | | | (1.75 | )% | | $ | 10,311 | | | | 61 | % |
| Year Ended July 31, 2018(g) | | $ | 26.25 | | | | (0.70 | ) | | | 13.88 | | | | 13.18 | | | | (3.23 | ) | | | (3.23 | ) | | $ | 36.20 | | | | 54.00 | % | | | 2.42 | % | | | 2.42 | % | | | (1.94 | )% | | $ | 16,652 | | | | 69 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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. |
| (e) | Subsequent to the issuance of the July 31, 2022 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) | As described in Note 9, share amounts have been adjusted for 2:1 share split that occurred on December 14, 2020. |
See accompanying notes to the financial statements.
Financial Highlights :: 253
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 | | | | | | | | | | Ratios to
Average Net Assets | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | | Total
Return(b) | | | Gross
Expenses(c) | | | Net
Expenses(c) | | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(b)(d) | |
| Large-Cap Growth ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 129.16 | | | | (0.44 | ) | | | (12.02 | ) | | | (12.46 | ) | | | — | | | | (2.15 | ) | | | (2.15 | ) | | $ | 114.55 | | | | (9.57 | )% | | | 1.88 | % | | | 1.88 | % | | | (0.78 | )% | | $ | 8,133 | | | | 83 | % |
| Year Ended July 31, 2022 | | $ | 146.04 | | | | (1.19 | ) | | | (14.13 | ) | | | (15.32 | ) | | | — | | | | (1.56 | ) | | | (1.56 | ) | | $ | 129.16 | | | | (10.69 | )%(e) | | | 1.57 | % | | | 1.57 | % | | | (0.84 | )% | | $ | 11,048 | | | | 756 | % |
| Year Ended July 31, 2021 | | $ | 111.89 | | | | (0.81 | ) | | | 39.10 | | | | 38.29 | | | | — | | | | (4.14 | ) | | | (4.14 | ) | | $ | 146.04 | | | | 34.95 | % | | | 1.59 | % | | | 1.59 | % | | | (0.66 | )% | | $ | 31,409 | | | | 297 | % |
| Year Ended July 31, 2020 | | $ | 95.94 | | | | (0.33 | ) | | | 20.61 | | | | 20.28 | | | | — | | | | (4.33 | ) | | | (4.33 | ) | | $ | 111.89 | | | | 21.78 | % | | | 1.69 | % | | | 1.69 | % | | | (0.34 | )% | | $ | 50,145 | | | | 358 | % |
| Year Ended July 31, 2019 | | $ | 90.85 | | | | (0.12 | ) | | | 6.68 | | | | 6.56 | | | | — | | | | (1.47 | ) | | | (1.47 | ) | | $ | 95.94 | | | | 7.56 | % | | | 1.61 | % | | | 1.61 | % | | | (0.14 | )% | | $ | 22,113 | | | | 536 | % |
| Year Ended July 31, 2018 | | $ | 77.09 | | | | (0.15 | ) | | | 15.06 | | | | 14.91 | | | | — | | | | (1.15 | ) | | | (1.15 | ) | | $ | 90.85 | | | | 19.47 | % | | | 1.57 | % | | | 1.57 | % | | | (0.18 | )% | | $ | 33,364 | | | | 380 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 103.18 | | | | (0.90 | ) | | | (9.53 | ) | | | (10.43 | ) | | | — | | | | (2.15 | ) | | | (2.15 | ) | | $ | 90.60 | | | | (10.02 | )% | | | 2.87 | % | | | 2.87 | % | | | (1.77 | )% | | $ | 1,332 | | | | 83 | % |
| Year Ended July 31, 2022 | | $ | 118.11 | | | | (2.33 | ) | | | (11.04 | ) | | | (13.37 | ) | | | — | | | | (1.56 | ) | | | (1.56 | ) | | $ | 103.18 | | | | (11.56 | )%(e) | | | 2.56 | % | | | 2.56 | % | | | (1.83 | )% | | $ | 1,234 | | | | 756 | % |
| Year Ended July 31, 2021 | | $ | 92.09 | | | | (1.83 | ) | | | 31.99 | | | | 30.16 | | | | — | | | | (4.14 | ) | | | (4.14 | ) | | $ | 118.11 | | | | 33.61 | % | | | 2.58 | % | | | 2.58 | % | | | (1.66 | )% | | $ | 1,467 | | | | 297 | % |
| Year Ended July 31, 2020 | | $ | 80.47 | | | | (1.14 | ) | | | 17.09 | | | | 15.95 | | | | — | | | | (4.33 | ) | | | (4.33 | ) | | $ | 92.09 | | | | 20.53 | % | | | 2.69 | % | | | 2.69 | % | | | (1.34 | )% | | $ | 1,014 | | | | 358 | % |
| Year Ended July 31, 2019 | | $ | 77.22 | | | | (0.89 | ) | | | 5.61 | | | | 4.72 | | | | — | | | | (1.47 | ) | | | (1.47 | ) | | $ | 80.47 | | | | 6.50 | % | | | 2.61 | % | | | 2.61 | % | | | (1.14 | )% | | $ | 3,894 | | | | 536 | % |
| Year Ended July 31, 2018 | | $ | 66.34 | | | | (0.85 | ) | | | 12.88 | | | | 12.03 | | | | — | | | | (1.15 | ) | | | (1.15 | ) | | $ | 77.22 | | | | 18.28 | % | | | 2.57 | % | | | 2.57 | % | | | (1.18 | )% | | $ | 1,307 | | | | 380 | % |
| Large-Cap Value ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 82.34 | | | | 0.17 | | | | 5.64 | | | | 5.81 | | | | (0.14 | ) | | | — | | | | (0.14 | ) | | $ | 88.01 | | | | 7.07 | % | | | 1.81 | % | | | 1.81 | % | | | 0.41 | % | | $ | 8,940 | | | | 430 | % |
| Year Ended July 31, 2022 | | $ | 84.34 | | | | 0.38 | | | | (1.79 | ) | | | (1.41 | ) | | | (0.59 | ) | | | — | | | | (0.59 | ) | | $ | 82.34 | | | | (1.72 | )% | | | 1.65 | % | | | 1.65 | % | | | 0.45 | % | | $ | 18,196 | | | | 1,059 | % |
| Year Ended July 31, 2021 | | $ | 63.28 | | | | 0.47 | | | | 20.59 | | | | 21.06 | | | | — | | | | — | | | | — | | | $ | 84.34 | | | | 33.28 | % | | | 1.71 | % | | | 1.71 | % | | | 0.63 | % | | $ | 4,334 | | | | 769 | % |
| Year Ended July 31, 2020 | | $ | 66.30 | | | | 0.64 | | | | (3.66 | ) | | | (3.02 | ) | | | — | | | | — | | | | — | | | $ | 63.28 | | | | (4.55 | )% | | | 1.75 | % | | | 1.75 | % | | | 0.94 | % | | $ | 4,704 | | | | 481 | % |
| Year Ended July 31, 2019 | | $ | 66.02 | | | | 0.45 | | | | 2.05 | | | | 2.50 | | | | — | | | | (2.22 | ) | | | (2.22 | ) | | $ | 66.30 | | | | 4.38 | % | | | 1.80 | % | | | 1.77 | % | | | 0.71 | % | | $ | 11,810 | | | | 1,011 | % |
| Year Ended July 31, 2018 | | $ | 61.42 | | | | 0.40 | | | | 4.84 | | | | 5.24 | | | | (0.42 | ) | | | (0.22 | ) | | | (0.64 | ) | | $ | 66.02 | | | | 8.55 | % | | | 1.85 | % | | | 1.78 | % | | | 0.64 | % | | $ | 5,296 | | | | 788 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 71.84 | | | | (0.19 | ) | | | 4.87 | | | | 4.68 | | | | — | | | | — | | | | — | | | $ | 76.52 | | | | 6.50 | % | | | 2.81 | % | | | 2.81 | % | | | (0.59 | )% | | $ | 2,674 | | | | 430 | % |
| Year Ended July 31, 2022 | | $ | 73.84 | | | | (0.36 | ) | | | (1.64 | ) | | | (2.00 | ) | | | — | | | | — | | | | — | | | $ | 71.84 | | | | (2.69 | )% | | | 2.65 | % | | | 2.65 | % | | | (0.55 | )% | | $ | 1,784 | | | | 1,059 | % |
| Year Ended July 31, 2021 | | $ | 55.95 | | | | (0.19 | ) | | | 18.08 | | | | 17.89 | | | | — | | | | — | | | | — | | | $ | 73.84 | | | | 31.97 | % | | | 2.71 | % | | | 2.71 | % | | | (0.37 | )% | | $ | 1,855 | | | | 769 | % |
| Year Ended July 31, 2020 | | $ | 59.23 | | | | 0.05 | | | | (3.33 | ) | | | (3.28 | ) | | | — | | | | — | | | | — | | | $ | 55.95 | | | | (5.54 | )% | | | 2.75 | % | | | 2.75 | % | | | (0.06 | )% | | $ | 1,421 | | | | 481 | % |
| Year Ended July 31, 2019 | | $ | 59.82 | | | | (0.12 | ) | | | 1.75 | | | | 1.63 | | | | — | | | | (2.22 | ) | | | (2.22 | ) | | $ | 59.23 | | | | 3.37 | % | | | 2.80 | % | | | 2.77 | % | | | (0.29 | )% | | $ | 1,233 | | | | 1,011 | % |
| Year Ended July 31, 2018 | | $ | 55.88 | | | | (0.18 | ) | | | 4.34 | | | | 4.16 | | | | — | | | | (0.22 | ) | | | (0.22 | ) | | $ | 59.82 | | | | 7.44 | % | | | 2.85 | % | | | 2.78 | % | | | (0.36 | )% | | $ | 635 | | | | 788 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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. |
| (e) | During the year ended July 31, 2022, the Fund received monies related to certain nonrecurring litigation settlements. The corresponding impact to the total return was 0.03%. |
See accompanying notes to the financial statements.
254 :: 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 | | | | | | | | | | Ratios to
Average Net Assets | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | | Total
Return(b) | | | Gross
Expenses(c) | | | Net
Expenses(c) | | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(b)(d) | |
| Materials UltraSector ProFund* | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 92.29 | | | | 0.20 | | | | 16.12 | | | | 16.32 | | | | — | | | | — | | | | — | | | $ | 108.61 | | | | 17.67 | % | | | 2.25 | % | | | 1.88 | % | | | 0.43 | % | | $ | 5,503 | | | | 17 | % |
| Year Ended July 31, 2022 | | $ | 101.46 | | | | (0.29 | ) | | | (8.88 | ) | | | (9.17 | ) | | | — | | | | — | | | | — | | | $ | 92.29 | | | | (9.03 | )% | | | 1.93 | % | | | 1.89 | % | | | (0.28 | )% | | $ | 4,652 | | | | 194 | % |
| Year Ended July 31, 2021 | | $ | 63.17 | | | | (0.16 | ) | | | 38.67 | | | | 38.51 | | | | (0.01 | ) | | | (0.21 | ) | | | (0.22 | ) | | $ | 101.46 | | | | 61.04 | % | | | 1.82 | % | | | 1.78 | % | | | (0.19 | )% | | $ | 10,709 | | | | 698 | % |
| Year Ended July 31, 2020 | | $ | 63.98 | | | | 0.08 | | | | (0.89 | ) | | | (0.81 | ) | | | — | | | | — | | | | — | | | $ | 63.17 | | | | (1.25 | )% | | | 2.43 | % | | | 1.85 | % | | | 0.15 | % | | $ | 2,897 | | | | 62 | % |
| Year Ended July 31, 2019 | | $ | 74.26 | | | | 0.12 | | | | (10.40 | ) | | | (10.28 | ) | | | — | | | | — | | | | — | | | $ | 63.98 | | | | (13.84 | )% | | | 2.15 | % | | | 2.05 | %(e) | | | 0.19 | % | | $ | 4,637 | | | | 179 | % |
| Year Ended July 31, 2018 | | $ | 63.66 | | | | (0.11 | ) | | | 10.71 | | | | 10.60 | | | | — | | | | — | | | | — | | | $ | 74.26 | | | | 16.65 | % | | | 1.67 | % | | | 1.67 | % | | | (0.15 | )% | | $ | 7,427 | | | | 460 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 79.82 | | | | (0.21 | ) | | | 13.84 | | | | 13.63 | | | | — | | | | — | | | | — | | | $ | 93.45 | | | | 17.07 | % | | | 3.25 | % | | | 2.88 | % | | | (0.57 | )% | | $ | 592 | | | | 17 | % |
| Year Ended July 31, 2022 | | $ | 88.60 | | | | (1.18 | ) | | | (7.60 | ) | | | (8.78 | ) | | | — | | | | — | | | | — | | | $ | 79.82 | | | | (9.91 | )% | | | 2.93 | % | | | 2.89 | % | | | (1.28 | )% | | $ | 510 | | | | 194 | % |
| Year Ended July 31, 2021 | | $ | 55.74 | | | | (0.92 | ) | | | 33.99 | | | | 33.07 | | | | — | | | | (0.21 | ) | | | (0.21 | ) | | $ | 88.60 | | | | 59.44 | % | | | 2.82 | % | | | 2.78 | % | | | (1.19 | )% | | $ | 983 | | | | 698 | % |
| Year Ended July 31, 2020 | | $ | 57.02 | | | | (0.44 | ) | | | (0.84 | ) | | | (1.28 | ) | | | — | | | | — | | | | — | | | $ | 55.74 | | | | (2.24 | )% | | | 3.43 | % | | | 2.85 | % | | | (0.85 | )% | | $ | 278 | | | | 62 | % |
| Year Ended July 31, 2019 | | $ | 66.85 | | | | (0.45 | ) | | | (9.38 | ) | | | (9.83 | ) | | | — | | | | — | | | | — | | | $ | 57.02 | | | | (14.72 | )% | | | 3.15 | % | | | 3.05 | %(e) | | | (0.81 | )% | | $ | 316 | | | | 179 | % |
| Year Ended July 31, 2018 | | $ | 57.88 | | | | (0.77 | ) | | | 9.74 | | | | 8.97 | | | | — | | | | — | | | | — | | | $ | 66.85 | | | | 15.49 | % | | | 2.67 | % | | | 2.67 | % | | | (1.15 | )% | | $ | 601 | | | | 460 | % |
| Mid-Cap Growth ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 88.50 | | | | (0.28 | ) | | | 1.48 | (f) | | | 1.20 | | | | — | | | | (2.65 | ) | | | (2.65 | ) | | $ | 87.05 | | | | 1.60 | % | | | 2.43 | % | | | 1.90 | % | | | (0.67 | )% | | $ | 2,940 | | | | 286 | % |
| Year Ended July 31, 2022 | | $ | 128.38 | | | | (1.19 | ) | | | (11.75 | ) | | | (12.94 | ) | | | — | | | | (26.94 | ) | | | (26.94 | ) | | $ | 88.50 | | | | (13.02 | )% | | | 2.35 | % | | | 2.04 | %(e) | | | (1.19 | )% | | $ | 2,708 | | | | 197 | % |
| Year Ended July 31, 2021 | | $ | 96.99 | | | | (0.78 | ) | | | 35.25 | | | | 34.47 | | | | — | | | | (3.08 | ) | | | (3.08 | ) | | $ | 128.38 | | | | 35.95 | % | | | 1.69 | % | | | 1.69 | % | | | (0.74 | )% | | $ | 3,719 | | | | 233 | % |
| Year Ended July 31, 2020 | | $ | 94.01 | | | | (0.79 | ) | | | 3.77 | | | | 2.98 | | | | — | | | | — | | | | — | | | $ | 96.99 | | | | 3.17 | % | | | 1.77 | % | | | 1.77 | % | | | (0.88 | )% | | $ | 38,215 | | | | 457 | % |
| Year Ended July 31, 2019 | | $ | 93.83 | | | | (0.40 | ) | | | 0.58 | | | | 0.18 | | | | — | | | | — | | | | — | | | $ | 94.01 | | | | 0.19 | % | | | 1.73 | % | | | 1.73 | % | | | (0.44 | )% | | $ | 17,792 | | | | 385 | % |
| Year Ended July 31, 2018 | | $ | 82.27 | | | | (0.50 | ) | | | 12.06 | | | | 11.56 | | | | — | | | | — | | | | — | | | $ | 93.83 | | | | 14.05 | % | | | 1.70 | % | | | 1.70 | % | | | (0.56 | )% | | $ | 19,895 | | | | 384 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 66.59 | | | | (0.60 | ) | | | 1.11 | (f) | | | 0.51 | | | | — | | | | (2.65 | ) | | | (2.65 | ) | | $ | 64.45 | | | | 1.07 | % | | | 3.43 | % | | | 2.90 | % | | | (1.67 | )% | | $ | 524 | | | | 286 | % |
| Year Ended July 31, 2022 | | $ | 104.06 | | | | (2.01 | ) | | | (8.52 | ) | | | (10.53 | ) | | | — | | | | (26.94 | ) | | | (26.94 | ) | | $ | 66.59 | | | | (13.90 | )% | | | 3.35 | % | | | 3.04 | %(e) | | | (2.19 | )% | | $ | 522 | | | | 197 | % |
| Year Ended July 31, 2021 | | $ | 79.88 | | | | (1.74 | ) | | | 29.00 | | | | 27.26 | | | | — | | | | (3.08 | ) | | | (3.08 | ) | | $ | 104.06 | | | | 34.61 | % | | | 2.69 | % | | | 2.69 | % | | | (1.74 | )% | | $ | 782 | | | | 233 | % |
| Year Ended July 31, 2020 | | $ | 78.22 | | | | (1.56 | ) | | | 3.22 | | | | 1.66 | | | | — | | | | — | | | | — | | | $ | 79.88 | | | | 2.12 | % | | | 2.77 | % | | | 2.77 | % | | | (1.88 | )% | | $ | 780 | | | | 457 | % |
| Year Ended July 31, 2019 | | $ | 78.84 | | | | (1.15 | ) | | | 0.53 | | | | (0.62 | ) | | | — | | | | — | | | | — | | | $ | 78.22 | | | | (0.79 | )% | | | 2.73 | % | | | 2.73 | % | | | (1.44 | )% | | $ | 2,315 | | | | 385 | % |
| Year Ended July 31, 2018 | | $ | 69.82 | | | | (1.25 | ) | | | 10.27 | | | | 9.02 | | | | — | | | | — | | | | — | | | $ | 78.84 | | | | 12.92 | % | | | 2.70 | % | | | 2.70 | % | | | (1.56 | )% | | $ | 950 | | | | 384 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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. |
| (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) | 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. |
| * | As described in Note 11, effective March 17, 2023, this ProFund's name changed due to a change to its underlying benchmark index. |
See accompanying notes to the financial statements.
Financial Highlights :: 255
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 | | | | | | | | | | Ratios to
Average Net Assets | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | | Total
Return(b) | | | Gross
Expenses(c) | | | Net
Expenses(c) | | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(b)(d) | |
| Mid-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 102.00 | | | | 0.13 | | | | 5.33 | (e) | | | 5.46 | | | | — | | | | — | | | | — | | | $ | 107.46 | | | | 5.34 | % | | | 2.10 | % | | | 1.78 | % | | | 0.29 | % | | $ | 6,834 | | | | 223 | % |
| Year Ended July 31, 2022 | | $ | 112.82 | | | | (0.80 | ) | | | (7.51 | ) | | | (8.31 | ) | | | — | | | | (2.51 | ) | | | (2.51 | ) | | $ | 102.00 | | | | (7.57 | )%(f) | | | 1.95 | % | | | 1.82 | % | | | (0.76 | )% | | $ | 3,106 | | | | 18 | % |
| Year Ended July 31, 2021 | | $ | 78.62 | | | | (1.05 | ) | | | 35.48 | | | | 34.43 | | | | — | | | | (0.23 | ) | | | (0.23 | ) | | $ | 112.82 | | | | 43.91 | % | | | 1.83 | % | | | 1.83 | % | | | (1.06 | )% | | $ | 6,198 | | | | 107 | % |
| Year Ended July 31, 2020 | | $ | 87.39 | | | | (0.41 | ) | | | (4.01 | ) | | | (4.42 | ) | | | (0.08 | ) | | | (4.27 | ) | | | (4.35 | ) | | $ | 78.62 | | | | (5.52 | )% | | | 1.97 | % | | | 1.97 | %(g) | | | (0.52 | )% | | $ | 4,207 | | | | 238 | % |
| Year Ended July 31, 2019 | | $ | 91.18 | | | | 0.02 | | | | (1.59 | ) | | | (1.57 | ) | | | (0.05 | ) | | | (2.17 | ) | | | (2.22 | ) | | $ | 87.39 | | | | (1.25 | )% | | | 1.67 | % | | | 1.67 | % | | | 0.03 | % | | $ | 7,025 | | | | 43 | % |
| Year Ended July 31, 2018 | | $ | 87.31 | | | | (0.20 | ) | | | 10.73 | | | | 10.53 | | | | — | | | | (6.66 | ) | | | (6.66 | ) | | $ | 91.18 | | | | 12.38 | % | | | 1.54 | % | | | 1.54 | % | | | (0.23 | )% | | $ | 19,933 | | | | 21 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 80.67 | | | | (0.27 | ) | | | 4.16 | (e) | | | 3.89 | | | | — | | | | — | | | | — | | | $ | 84.56 | | | | 4.81 | % | | | 3.10 | % | | | 2.78 | % | | | (0.71 | )% | | $ | 6,603 | | | | 223 | % |
| Year Ended July 31, 2022 | | $ | 90.61 | | | | (1.66 | ) | | | (5.77 | ) | | | (7.43 | ) | | | — | | | | (2.51 | ) | | | (2.51 | ) | | $ | 80.67 | | | | (8.47 | )%(f) | | | 2.95 | % | | | 2.82 | % | | | (1.76 | )% | | $ | 795 | | | | 18 | % |
| Year Ended July 31, 2021 | | $ | 63.84 | | | | (1.86 | ) | | | 28.86 | | | | 27.00 | | | | — | | | | (0.23 | ) | | | (0.23 | ) | | $ | 90.61 | | | | 42.47 | % | | | 2.83 | % | | | 2.83 | % | | | (2.06 | )% | | $ | 816 | | | | 107 | % |
| Year Ended July 31, 2020 | | $ | 72.34 | | | | (1.07 | ) | | | (3.16 | ) | | | (4.23 | ) | | | — | | | | (4.27 | ) | | | (4.27 | ) | | $ | 63.84 | | | | (6.45 | )% | | | 2.97 | % | | | 2.97 | %(g) | | | (1.52 | )% | | $ | 556 | | | | 238 | % |
| Year Ended July 31, 2019 | | $ | 76.62 | | | | (0.69 | ) | | | (1.42 | ) | | | (2.11 | ) | | | — | | | | (2.17 | ) | | | (2.17 | ) | | $ | 72.34 | | | | (2.23 | )% | | | 2.67 | % | | | 2.67 | % | | | (0.97 | )% | | $ | 2,655 | | | | 43 | % |
| Year Ended July 31, 2018 | | $ | 75.06 | | | | (0.96 | ) | | | 9.18 | | | | 8.22 | | | | — | | | | (6.66 | ) | | | (6.66 | ) | | $ | 76.62 | | | | 11.26 | % | | | 2.54 | % | | | 2.54 | % | | | (1.23 | )% | | $ | 783 | | | | 21 | % |
| Mid-Cap Value ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 93.28 | | | | 0.21 | | | | 8.59 | (e) | | | 8.80 | | | | — | | | | — | | | | — | | | $ | 102.08 | | | | 9.42 | % | | | 1.88 | % | | | 1.78 | % | | | 0.46 | % | | $ | 11,985 | | | | 298 | % |
| Year Ended July 31, 2022 | | $ | 95.91 | | | | 0.19 | | | | (1.93 | )(e) | | | (1.74 | ) | | | — | | | | (0.89 | ) | | | (0.89 | ) | | $ | 93.28 | | | | (1.86 | )%(h) | | | 1.85 | % | | | 1.78 | % | | | 0.21 | % | | $ | 21,740 | | | | 512 | % |
| Year Ended July 31, 2021 | | $ | 62.48 | | | | 0.10 | | | | 33.50 | | | | 33.60 | | | | (0.17 | ) | | | — | | | | (0.17 | ) | | $ | 95.91 | | | | 53.86 | % | | | 1.86 | % | | | 1.78 | % | | | 0.13 | % | | $ | 4,856 | | | | 772 | % |
| Year Ended July 31, 2020 | | $ | 73.65 | | | | 0.20 | | | | (11.06 | ) | | | (10.86 | ) | | | (0.31 | )(i) | | | — | | | | (0.31 | ) | | $ | 62.48 | | | | (14.82 | )%(j) | | | 2.10 | % | | | 1.78 | % | | | 0.29 | % | | $ | 4,189 | | | | 322 | % |
| Year Ended July 31, 2019 | | $ | 78.08 | | | | 0.08 | | | | (2.04 | ) | | | (1.96 | ) | | | (0.11 | ) | | | (2.36 | ) | | | (2.47 | ) | | $ | 73.65 | | | | (1.94 | )% | | | 1.78 | % | | | 1.78 | % | | | 0.11 | % | | $ | 5,554 | | | | 708 | % |
| Year Ended July 31, 2018 | | $ | 78.19 | | | | (0.11 | ) | | | 8.25 | | | | 8.14 | | | | — | | | | (8.25 | ) | | | (8.25 | ) | | $ | 78.08 | | | | 10.85 | % | | | 1.94 | % | | | 1.78 | % | | | (0.15 | )% | | $ | 7,731 | | | | 312 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 74.33 | | | | (0.16 | ) | | | 6.77 | (e) | | | 6.61 | | | | — | | | | — | | | | — | | | $ | 80.94 | | | | 8.88 | % | | | 2.88 | % | | | 2.78 | % | | | (0.54 | )% | | $ | 891 | | | | 298 | % |
| Year Ended July 31, 2022 | | $ | 77.37 | | | | (0.57 | ) | | | (1.58 | )(e) | | | (2.15 | ) | | | — | | | | (0.89 | ) | | | (0.89 | ) | | $ | 74.33 | | | | (2.84 | )%(h) | | | 2.85 | % | | | 2.78 | % | | | (0.79 | )% | | $ | 620 | | | | 512 | % |
| Year Ended July 31, 2021 | | $ | 50.79 | | | | (0.57 | ) | | | 27.15 | | | | 26.58 | | | | — | | | | — | | | | — | | | $ | 77.37 | | | | 52.35 | % | | | 2.86 | % | | | 2.78 | % | | | (0.87 | )% | | $ | 649 | | | | 772 | % |
| Year Ended July 31, 2020 | | $ | 60.23 | | | | (0.36 | ) | | | (9.08 | ) | | | (9.44 | ) | | | — | | | | — | | | | — | | | $ | 50.79 | | | | (15.67 | )%(j) | | | 3.10 | % | | | 2.78 | % | | | (0.71 | )% | | $ | 417 | | | | 322 | % |
| Year Ended July 31, 2019 | | $ | 64.88 | | | | (0.52 | ) | | | (1.77 | ) | | | (2.29 | ) | | | — | | | | (2.36 | ) | | | (2.36 | ) | | $ | 60.23 | | | | (2.89 | )% | | | 2.78 | % | | | 2.78 | % | | | (0.89 | )% | | $ | 587 | | | | 708 | % |
| Year Ended July 31, 2018 | | $ | 66.90 | | | | (0.76 | ) | | | 6.99 | | | | 6.23 | | | | — | | | | (8.25 | ) | | | (8.25 | ) | | $ | 64.88 | | | | 9.73 | % | | | 2.94 | % | | | 2.78 | % | | | (1.15 | )% | | $ | 562 | | | | 312 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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. |
| (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) | During the year ended July 31, 2022, the Fund received monies related to certain nonrecurring litigation settlements. The corresponding impact to the total return was 0.04%. |
| (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. |
| (h) | During the year ended July 31, 2022, the Fund received monies related to certain nonrecurring litigation settlements. The corresponding impact to the total return was 0.06%. |
| (i) | Subsequent to the issuance of the July 31, 2020 financial statements, $0.05 of the distribution was determined to be a return of capital. |
| (j) | During the year ended July 31, 2020, the ProFund received monies related to certain nonrecurring litigation settlements. The corresponding impact to the total return was 0.22%. |
See accompanying notes to the financial statements.
256 :: 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 | | | | | | | | | | Ratios to
Average Net Assets | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | | Total
Return(b) | | | Gross
Expenses(c) | | | Net
Expenses(c) | | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(b)(d) | |
| Nasdaq-100 ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 115.16 | | | | 0.45 | | | | (8.94 | ) | | | (8.49 | ) | | | — | | | | — | | | | — | | | $ | 106.67 | | | | (7.37 | )% | | | 1.61 | % | | | 1.61 | % | | | 0.87 | % | | $ | 107,759 | | | | 136 | % |
| Year Ended July 31, 2022 | | $ | 139.20 | | | | (1.27 | ) | | | (19.08 | ) | | | (20.35 | ) | | | — | | | | (3.69 | ) | | | (3.69 | ) | | $ | 115.16 | | | | (15.20 | )% | | | 1.46 | % | | | 1.46 | % | | | (0.97 | )% | | $ | 48,382 | | | | 635 | % |
| Year Ended July 31, 2021 | | $ | 104.21 | | | | (1.20 | ) | | | 37.52 | | | | 36.32 | | | | — | | | | (1.33 | ) | | | (1.33 | ) | | $ | 139.20 | | | | 35.07 | % | | | 1.48 | % | | | 1.48 | % | | | (1.01 | )% | | $ | 153,313 | | | | 440 | % |
| Year Ended July 31, 2020 | | $ | 76.83 | | | | (0.54 | ) | | | 28.66 | | | | 28.12 | | | | — | | | | (0.74 | ) | | | (0.74 | ) | | $ | 104.21 | | | | 36.83 | % | | | 1.56 | % | | | 1.56 | % | | | (0.65 | )% | | $ | 108,633 | | | | 39 | % |
| Year Ended July 31, 2019 | | $ | 71.37 | | | | 0.02 | | | | 5.44 | | | | 5.46 | | | | — | | | | — | | | | — | | | $ | 76.83 | | | | 7.65 | % | | | 1.52 | % | | | 1.52 | % | | | 0.03 | % | | $ | 101,799 | | | | 15 | % |
| Year Ended July 31, 2018 | | $ | 58.96 | | | | (0.19 | ) | | | 13.07 | | | | 12.88 | | | | — | | | | (0.47 | ) | | | (0.47 | ) | | $ | 71.37 | | | | 21.94 | % | | | 1.44 | % | | | 1.44 | % | | | (0.30 | )% | | $ | 83,056 | | | | 3 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 90.41 | | | | 0.04 | | | | (7.15 | ) | | | (7.11 | ) | | | — | | | | — | | | | — | | | $ | 83.30 | | | | (7.87 | )% | | | 2.61 | % | | | 2.61 | % | | | (0.13 | )% | | $ | 5,766 | | | | 136 | % |
| Year Ended July 31, 2022 | | $ | 111.10 | | | | (2.30 | ) | | | (14.70 | ) | | | (17.00 | ) | | | — | | | | (3.69 | ) | | | (3.69 | ) | | $ | 90.41 | | | | (16.03 | )% | | | 2.46 | % | | | 2.46 | % | | | (1.97 | )% | | $ | 6,964 | | | | 635 | % |
| Year Ended July 31, 2021 | | $ | 84.23 | | | | (2.15 | ) | | | 30.35 | | | | 28.20 | | | | — | | | | (1.33 | ) | | | (1.33 | ) | | $ | 111.10 | | | | 33.74 | % | | | 2.48 | % | | | 2.48 | % | | | (2.01 | )% | | $ | 7,473 | | | | 440 | % |
| Year Ended July 31, 2020 | | $ | 62.84 | | | | (1.22 | ) | | | 23.35 | | | | 22.13 | | | | — | | | | (0.74 | ) | | | (0.74 | ) | | $ | 84.23 | | | | 35.48 | % | | | 2.55 | % | | | 2.55 | % | | | (1.64 | )% | | $ | 8,412 | | | | 39 | % |
| Year Ended July 31, 2019 | | $ | 58.96 | | | | (0.56 | ) | | | 4.44 | | | | 3.88 | | | | — | | | | — | | | | — | | | $ | 62.84 | | | | 6.58 | % | | | 2.51 | % | | | 2.51 | % | | | (0.96 | )% | | $ | 5,884 | | | | 15 | % |
| Year Ended July 31, 2018 | | $ | 49.27 | | | | (0.74 | ) | | | 10.90 | | | | 10.16 | | | | — | | | | (0.47 | ) | | | (0.47 | ) | | $ | 58.96 | | | | 20.75 | % | | | 2.44 | % | | | 2.44 | % | | | (1.30 | )% | | $ | 8,137 | | | | 3 | % |
| Oil & Gas Equipment & Services UltraSector ProFund* | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 77.29 | | | | 0.02 | | | | 42.12 | | | | 42.14 | | | | — | | | | — | | | | — | | | $ | 119.43 | | | | 54.52 | % | | | 1.68 | % | | | 1.68 | % | | | 0.05 | % | | $ | 19,915 | | | | 120 | % |
| Year Ended July 31, 2022 | | $ | 61.47 | | | | (0.51 | ) | | | 16.33 | | | | 15.82 | | | | — | | | | — | | | | — | | | $ | 77.29 | | | | 25.74 | % | | | 1.65 | % | | | 1.65 | % | | | (0.69 | )% | | $ | 13,020 | | | | 218 | % |
| Year Ended July 31, 2021(e) | | $ | 36.47 | | | | (0.47 | ) | | | 25.55 | | | | 25.08 | | | | (0.08 | ) | | | — | | | | (0.08 | ) | | $ | 61.47 | | | | 68.77 | % | | | 1.73 | % | | | 1.71 | % | | | (0.80 | )% | | $ | 15,229 | | | | 727 | % |
| Year Ended July 31, 2020(e)(f) | | $ | 166.00 | | | | 0.20 | | | | (129.73 | ) | | | (129.53 | ) | | | — | | | | — | | | | — | | | $ | 36.47 | | | | (78.03 | )% | | | 2.12 | % | | | 1.86 | % | | | 0.73 | % | | $ | 9,408 | | | | 396 | % |
| Year Ended July 31, 2019(e)(f) | | $ | 403.70 | | | | (1.28 | ) | | | (232.26 | ) | | | (233.54 | ) | | | (4.16 | ) | | | — | | | | (4.16 | ) | | $ | 166.00 | | | | (57.83 | )% | | | 2.09 | % | | | 2.09 | %(g) | | | (0.61 | )% | | $ | 6,205 | | | | 248 | % |
| Year Ended July 31, 2018(e)(f) | | $ | 401.13 | | | | 3.20 | | | | 8.65 | | | | 11.85 | | | | (9.28 | ) | | | — | | | | (9.28 | ) | | $ | 403.70 | | | | 3.02 | % | | | 1.60 | % | | | 1.60 | % | | | 0.83 | % | | $ | 8,203 | | | | 316 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 68.41 | | | | (0.39 | ) | | | 37.18 | | | | 36.79 | | | | — | | | | — | | | | — | | | $ | 105.20 | | | | 53.77 | % | | | 2.68 | % | | | 2.68 | % | | | (0.95 | )% | | $ | 616 | | | | 120 | % |
| Year Ended July 31, 2022 | | $ | 54.96 | | | | (1.20 | ) | | | 14.65 | | | | 13.45 | | | | — | | | | — | | | | — | | | $ | 68.41 | | | | 24.49 | % | | | 2.65 | % | | | 2.65 | % | | | (1.69 | )% | | $ | 1,247 | | | | 218 | % |
| Year Ended July 31, 2021(e) | | $ | 32.90 | | | | (0.95 | ) | | | 23.01 | | | | 22.06 | | | | — | | | | — | | | | — | | | $ | 54.96 | | | | 67.15 | % | | | 2.73 | % | | | 2.71 | % | | | (1.80 | )% | | $ | 621 | | | | 727 | % |
| Year Ended July 31, 2020(e)(f) | | $ | 151.47 | | | | (0.04 | ) | | | (118.53 | ) | | | (118.57 | ) | | | — | | | | — | | | | — | | | $ | 32.90 | | | | (78.28 | )% | | | 3.12 | % | | | 2.86 | % | | | (0.27 | )% | | $ | 353 | | | | 396 | % |
| Year Ended July 31, 2019(e)(f) | | $ | 362.87 | | | | (3.20 | ) | | | (208.20 | ) | | | (211.40 | ) | | | — | (h) | | | — | | | | — | (h) | | $ | 151.47 | | | | (58.27 | )% | | | 3.09 | % | | | 3.09 | %(g) | | | (1.61 | )% | | $ | 373 | | | | 248 | % |
| Year Ended July 31, 2018(e)(f) | | $ | 359.98 | | | | (0.32 | ) | | | 7.37 | | | | 7.05 | | | | (4.16 | ) | | | — | | | | (4.16 | ) | | $ | 362.87 | | | | 1.99 | % | | | 2.60 | % | | | 2.60 | % | | | (0.17 | )% | | $ | 318 | | | | 316 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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. |
| (e) | As described in Note 9, share amounts have been adjusted for 1:4 reverse share split that occurred on December 14, 2020. |
| (f) | As described in Note 9, share amounts have been adjusted for 1:8 reverse share split that occurred on November 18, 2019. |
| (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. |
| (h) | Amount is less than $0.005. |
| * | As described in Note 11, effective March 17, 2023, this ProFund's name changed due to a change to its underlying benchmark index. |
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 | | | | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | | Total
Return(b) | | | Gross
Expenses(c) | | | Net
Expenses(c) | | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(b)(d) | |
| Pharmaceuticals UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 28.86 | | | | 0.06 | | | | (1.30 | ) | | | (1.24 | ) | | | — | | | | — | | | | — | | | $ | 27.62 | | | | (4.30 | )% | | | 2.10 | % | | | 1.78 | % | | | 0.47 | % | | $ | 4,166 | | | | 68 | % |
| Year Ended July 31, 2022 | | $ | 30.56 | | | | (0.06 | ) | | | (0.41 | )(e) | | | (0.47 | ) | | | — | | | | (1.23 | ) | | | (1.23 | ) | | $ | 28.86 | | | | (1.71 | )% | | | 2.13 | % | | | 1.78 | % | | | (0.20 | )% | | $ | 3,828 | | | | 185 | % |
| Year Ended July 31, 2021 | | $ | 22.94 | | | | (0.09 | ) | | | 7.81 | | | | 7.72 | | | | — | | | | (0.10 | ) | | | (0.10 | ) | | $ | 30.56 | | | | 33.74 | % | | | 2.27 | % | | | 1.78 | % | | | (0.33 | )% | | $ | 3,961 | | | | 204 | % |
| Year Ended July 31, 2020 | | $ | 20.75 | | | | (0.04 | ) | | | 2.23 | | | | 2.19 | | | | — | | | | — | | | | — | | | $ | 22.94 | | | | 10.55 | % | | | 2.32 | % | | | 1.84 | % | | | (0.18 | )% | | $ | 3,735 | | | | 137 | % |
| Year Ended July 31, 2019 | | $ | 26.29 | | | | 0.01 | | | | (4.71 | ) | | | (4.70 | ) | | | (0.04 | ) | | | (0.80 | ) | | | (0.84 | ) | | $ | 20.75 | | | | (17.69 | )% | | | 1.97 | % | | | 1.86 | % | | | 0.06 | % | | $ | 5,039 | | | | 223 | % |
| Year Ended July 31, 2018 | | $ | 25.66 | | | | 0.12 | | | | 1.61 | | | | 1.73 | | | | — | | | | (1.10 | ) | | | (1.10 | ) | | $ | 26.29 | | | | 6.97 | % | | | 1.78 | % | | | 1.78 | % | | | 0.48 | % | | $ | 7,173 | | | | 192 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 24.14 | | | | (0.05 | ) | | | (1.10 | ) | | | (1.15 | ) | | | — | | | | — | | | | — | | | $ | 22.99 | | | | (4.80 | )% | | | 3.10 | % | | | 2.78 | % | | | (0.53 | )% | | $ | 271 | | | | 68 | % |
| Year Ended July 31, 2022 | | $ | 26.02 | | | | (0.31 | ) | | | (0.34 | )(e) | | | (0.65 | ) | | | — | | | | (1.23 | ) | | | (1.23 | ) | | $ | 24.14 | | | | (2.69 | )% | | | 3.13 | % | | | 2.78 | % | | | (1.20 | )% | | $ | 289 | | | | 185 | % |
| Year Ended July 31, 2021 | | $ | 19.74 | | | | (0.32 | ) | | | 6.70 | | | | 6.38 | | | | — | | | | (0.10 | ) | | | (0.10 | ) | | $ | 26.02 | | | | 32.41 | % | | | 3.27 | % | | | 2.78 | % | | | (1.33 | )% | | $ | 318 | | | | 204 | % |
| Year Ended July 31, 2020 | | $ | 18.03 | | | | (0.23 | ) | | | 1.94 | | | | 1.71 | | | | — | | | | — | | | | — | | | $ | 19.74 | | | | 9.48 | % | | | 3.32 | % | | | 2.84 | % | | | (1.18 | )% | | $ | 300 | | | | 137 | % |
| Year Ended July 31, 2019 | | $ | 23.16 | | | | (0.20 | ) | | | (4.13 | ) | | | (4.33 | ) | | | — | | | | (0.80 | ) | | | (0.80 | ) | | $ | 18.03 | | | | (18.53 | )% | | | 2.97 | % | | | 2.86 | % | | | (0.94 | )% | | $ | 435 | | | | 223 | % |
| Year Ended July 31, 2018 | | $ | 22.96 | | | | (0.10 | ) | | | 1.40 | | | | 1.30 | | | | — | | | | (1.10 | ) | | | (1.10 | ) | | $ | 23.16 | | | | 5.88 | % | | | 2.78 | % | | | 2.78 | % | | | (0.52 | )% | | $ | 822 | | | | 192 | % |
| Precious Metals UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 40.36 | | | | 0.23 | | | | 12.35 | | | | 12.58 | | | | — | (f) | | | — | | | | — | (f) | | $ | 52.94 | | | | 31.17 | % | | | 1.65 | % | | | 1.65 | % | | | 1.10 | % | | $ | 23,152 | | | | 138 | % |
| Year Ended July 31, 2022 | | $ | 65.60 | | | | 0.19 | | | | (25.43 | ) | | | (25.24 | ) | | | — | | | | — | | | | — | | | $ | 40.36 | | | | (38.48 | )% | | | 1.53 | % | | | 1.53 | % | | | 0.33 | % | | $ | 18,455 | | | | 94 | % |
| Year Ended July 31, 2021 | | $ | 89.95 | | | | (0.28 | ) | | | (24.07 | ) | | | (24.35 | ) | | | — | | | | — | | | | — | | | $ | 65.60 | | | | (27.07 | )% | | | 1.59 | % | | | 1.59 | % | | | (0.39 | )% | | $ | 35,750 | | | | 128 | % |
| Year Ended July 31, 2020 | | $ | 41.21 | | | | (0.38 | ) | | | 49.12 | | | | 48.74 | | | | — | | | | — | | | | — | | | $ | 89.95 | | | | 118.27 | % | | | 1.64 | % | | | 1.64 | % | | | (0.73 | )% | | $ | 43,584 | | | | 148 | % |
| Year Ended July 31, 2019 | | $ | 32.32 | | | | (0.02 | ) | | | 8.91 | | | | 8.89 | | | | — | | | | — | | | | — | | | $ | 41.21 | | | | 27.51 | % | | | 1.62 | % | | | 1.62 | % | | | (0.07 | )% | | $ | 29,785 | | | | 228 | % |
| Year Ended July 31, 2018 | | $ | 39.29 | | | | (0.22 | ) | | | (6.75 | ) | | | (6.97 | ) | | | — | | | | — | | | | — | | | $ | 32.32 | | | | (17.74 | )% | | | 1.52 | % | | | 1.52 | % | | | (0.60 | )% | | $ | 23,965 | | | | 192 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 33.94 | | | | 0.05 | | | | 10.31 | | | | 10.36 | | | | — | | | | — | | | | — | | | $ | 44.30 | | | | 30.49 | % | | | 2.65 | % | | | 2.65 | % | | | 0.10 | % | | $ | 1,570 | | | | 138 | % |
| Year Ended July 31, 2022 | | $ | 55.73 | | | | (0.32 | ) | | | (21.47 | ) | | | (21.79 | ) | | | — | | | | — | | | | — | | | $ | 33.94 | | | | (39.08 | )% | | | 2.53 | % | | | 2.53 | % | | | (0.67 | )% | | $ | 1,280 | | | | 94 | % |
| Year Ended July 31, 2021 | | $ | 77.19 | | | | (0.88 | ) | | | (20.58 | ) | | | (21.46 | ) | | | — | | | | — | | | | — | | | $ | 55.73 | | | | (27.80 | )% | | | 2.59 | % | | | 2.59 | % | | | (1.39 | )% | | $ | 1,755 | | | | 128 | % |
| Year Ended July 31, 2020 | | $ | 35.72 | | | | (0.83 | ) | | | 42.30 | | | | 41.47 | | | | — | | | | — | | | | — | | | $ | 77.19 | | | | 116.10 | % | | | 2.64 | % | | | 2.64 | % | | | (1.73 | )% | | $ | 1,557 | | | | 148 | % |
| Year Ended July 31, 2019 | | $ | 28.31 | | | | (0.29 | ) | | | 7.70 | | | | 7.41 | | | | — | | | | — | | | | — | | | $ | 35.72 | | | | 26.17 | % | | | 2.62 | % | | | 2.62 | % | | | (1.07 | )% | | $ | 1,131 | | | | 228 | % |
| Year Ended July 31, 2018 | | $ | 34.75 | | | | (0.54 | ) | | | (5.90 | ) | | | (6.44 | ) | | | — | | | | — | | | | — | | | $ | 28.31 | | | | (18.53 | )% | | | 2.52 | % | | | 2.52 | % | | | (1.60 | )% | | $ | 1,465 | | | | 192 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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. |
| (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. |
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 | | | | | | | | | | Ratios to
Average Net Assets | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | | Total
Return(b) | | | Gross
Expenses(c) | | | Net
Expenses(c) | | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(b)(d) | |
| Real Estate UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 50.52 | | | | 0.03 | | | | (5.89 | ) | | �� | (5.86 | ) | | | — | | | | (1.25 | ) | | | (1.25 | ) | | $ | 43.41 | | | | (11.17 | )% | | | 2.27 | % | | | 2.21 | %(e) | | | 0.14 | % | | $ | 5,095 | | | | 27 | % |
| Year Ended July 31, 2022 | | $ | 63.02 | | | | (0.20 | ) | | | (4.17 | ) | | | (4.37 | ) | | | (0.56 | ) | | | (7.57 | ) | | | (8.13 | ) | | $ | 50.52 | | | | (8.99 | )%(f) | | | 1.55 | % | | | 1.55 | % | | | (0.32 | )% | | $ | 6,793 | | | | 253 | % |
| Year Ended July 31, 2021 | | $ | 42.23 | | | | (0.18 | ) | | | 20.97 | | | | 20.79 | | | | — | | | | — | | | | — | | | $ | 63.02 | | | | 49.23 | % | | | 1.86 | % | | | 1.81 | % | | | (0.33 | )% | | $ | 34,877 | | | | 175 | % |
| Year Ended July 31, 2020 | | $ | 51.60 | | | | (0.10 | ) | | | (7.77 | ) | | | (7.87 | ) | | | (1.50 | )(g) | | | — | | | | (1.50 | ) | | $ | 42.23 | | | | (15.54 | )% | | | 1.80 | % | | | 1.79 | % | | | (0.20 | )% | | $ | 4,991 | | | | 217 | % |
| Year Ended July 31, 2019 | | $ | 45.14 | | | | 0.81 | | | | 6.47 | | | | 7.28 | | | | (0.82 | ) | | | — | | | | (0.82 | ) | | $ | 51.60 | | | | 16.49 | % | | | 1.62 | % | | | 1.62 | % | | | 1.71 | % | | $ | 25,665 | | | | 345 | % |
| Year Ended July 31, 2018 | | $ | 43.65 | | | | 0.22 | | | | 1.27 | | | | 1.49 | | | | — | | | | — | | | | — | | | $ | 45.14 | | | | 3.41 | % | | | 1.92 | % | | | 1.89 | % | | | 0.52 | % | | $ | 6,197 | | | | 374 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 47.21 | | | | (0.17 | ) | | | (5.53 | ) | | | (5.70 | ) | | | — | | | | (1.25 | ) | | | (1.25 | ) | | $ | 40.26 | | | | (11.63 | )% | | | 3.27 | % | | | 3.21 | %(e) | | | (0.86 | )% | | $ | 340 | | | | 27 | % |
| Year Ended July 31, 2022 | | $ | 59.52 | | | | (0.75 | ) | | | (3.90 | ) | | | (4.65 | ) | | | (0.09 | ) | | | (7.57 | ) | | | (7.66 | ) | | $ | 47.21 | | | | (9.89 | )%(f) | | | 2.55 | % | | | 2.55 | % | | | (1.32 | )% | | $ | 534 | | | | 253 | % |
| Year Ended July 31, 2021 | | $ | 40.28 | | | | (0.66 | ) | | | 19.90 | | | | 19.24 | | | | — | | | | — | | | | — | | | $ | 59.52 | | | | 47.77 | % | | | 2.86 | % | | | 2.81 | % | | | (1.33 | )% | | $ | 964 | | | | 175 | % |
| Year Ended July 31, 2020 | | $ | 49.28 | | | | (0.58 | ) | | | (7.38 | ) | | | (7.96 | ) | | | (1.04 | )(g) | | | — | | | | (1.04 | ) | | $ | 40.28 | | | | (16.39 | )% | | | 2.80 | % | | | 2.79 | % | | | (0.12 | )% | | $ | 341 | | | | 217 | % |
| Year Ended July 31, 2019 | | $ | 42.78 | | | | 0.37 | | | | 6.19 | | | | 6.56 | | | | (0.06 | ) | | | — | | | | (0.06 | ) | | $ | 49.28 | | | | 15.35 | % | | | 2.62 | % | | | 2.62 | % | | | 0.71 | % | | $ | 1,007 | | | | 345 | % |
| Year Ended July 31, 2018 | | $ | 41.77 | | | | (0.18 | ) | | | 1.19 | | | | 1.01 | | | | — | | | | — | | | | — | | | $ | 42.78 | | | | 2.42 | % | | | 2.92 | % | | | 2.89 | % | | | (0.48 | )% | | $ | 737 | | | | 374 | % |
| Rising Rates Opportunity ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 31.43 | | | | 0.28 | | | | 3.88 | | | | 4.16 | | | | — | | | | — | | | | — | | | $ | 35.59 | | | | 13.24 | % | | | 1.57 | % | | | 1.57 | % | | | 1.53 | % | | $ | 14,801 | | | | — | |
| Year Ended July 31, 2022 | | $ | 25.21 | | | | (0.28 | ) | | | 6.50 | | | | 6.22 | | | | — | | | | — | | | | — | | | $ | 31.43 | | | | 24.67 | % | | | 1.52 | % | | | 1.52 | % | | | (0.96 | )% | | $ | 44,874 | | | | — | |
| Year Ended July 31, 2021 | | $ | 21.80 | | | | (0.43 | ) | | | 3.84 | | | | 3.41 | | | | — | | | | — | | | | — | | | $ | 25.21 | | | | 15.64 | % | | | 1.71 | % | | | 1.69 | % | | | (1.68 | )% | | $ | 9,091 | | | | — | |
| Year Ended July 31, 2020 | | $ | 35.49 | | | | (0.17 | ) | | | (13.10 | ) | | | (13.27 | ) | | | (0.42 | ) | | | — | | | | (0.42 | ) | | $ | 21.80 | | | | (37.79 | )% | | | 1.89 | % | | | 1.88 | % | | | (0.60 | )% | | $ | 6,105 | | | | — | |
| Year Ended July 31, 2019 | | $ | 41.55 | | | | 0.27 | | | | (6.33 | ) | | | (6.06 | ) | | | — | | | | — | | | | — | | | $ | 35.49 | | | | (14.58 | )% | | | 1.56 | % | | | 1.56 | % | | | 0.67 | % | | $ | 30,192 | | | | — | |
| Year Ended July 31, 2018 | | $ | 41.26 | | | | (0.08 | ) | | | 0.37 | | | | 0.29 | | | | — | | | | — | | | | — | | | $ | 41.55 | | | | 0.70 | % | | | 1.50 | % | | | 1.50 | % | | | (0.21 | )% | | $ | 26,114 | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 27.36 | | | | 0.12 | | | | 3.35 | | | | 3.47 | | | | — | | | | — | | | | — | | | $ | 30.83 | | | | 12.68 | % | | | 2.57 | % | | | 2.57 | % | | | 0.53 | % | | $ | 2,481 | | | | — | |
| Year Ended July 31, 2022 | | $ | 22.15 | | | | (0.53 | ) | | | 5.74 | | | | 5.21 | | | | — | | | | — | | | | — | | | $ | 27.36 | | | | 23.47 | % | | | 2.52 | % | | | 2.52 | % | | | (1.96 | )% | | $ | 1,173 | | | | — | |
| Year Ended July 31, 2021 | | $ | 19.35 | | | | (0.67 | ) | | | 3.47 | | | | 2.80 | | | | — | | | | — | | | | — | | | $ | 22.15 | | | | 14.52 | % | | | 2.71 | % | | | 2.69 | % | | | (2.68 | )% | | $ | 680 | | | | — | |
| Year Ended July 31, 2020 | | $ | 31.42 | | | | (0.44 | ) | | | (11.63 | ) | | | (12.07 | ) | | | — | | | | — | | | | — | | | $ | 19.35 | | | | (38.41 | )% | | | 2.89 | % | | | 2.88 | % | | | (1.60 | )% | | $ | 87 | | | | — | |
| Year Ended July 31, 2019 | | $ | 37.17 | | | | (0.09 | ) | | | (5.66 | ) | | | (5.75 | ) | | | — | | | | — | | | | — | | | $ | 31.42 | | | | (15.47 | )% | | | 2.56 | % | | | 2.56 | % | | | (0.33 | )% | | $ | 209 | | | | — | |
| Year Ended July 31, 2018 | | $ | 37.27 | | | | (0.45 | ) | | | 0.35 | | | | (0.10 | ) | | | — | | | | — | | | | — | | | $ | 37.17 | | | | (0.27 | )% | | | 2.50 | % | | | 2.50 | % | | | (1.21 | )% | | $ | 1,031 | | | | — | |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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. |
| (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) | During the year ended July 31, 2022, the Fund received monies related to certain nonrecuring litigation settlements. The corresponding impact to the total return was 0.03%. |
| (g) | Subsequent to the issuance of the July 31, 2020 financial statements, $0.60 and $0.42 of the distribution for the Investor class and Service class respectively was determined to be a return of capital. |
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 | | | | | | | | | | Ratios to
Average Net Assets | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | | Total
Return(b) | | | Gross
Expenses(c) | | | Net
Expenses(c) | | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(b)(d) | |
| Rising Rates Opportunity 10 ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 13.45 | | | | 0.11 | | | | 0.89 | | | | 1.00 | | | | — | | | | — | | | | — | | | $ | 14.45 | | | | 7.43 | % | | | 2.23 | % | | | 1.78 | % | | | 1.46 | % | | $ | 2,313 | | | | — | |
| Year Ended July 31, 2022 | | $ | 12.32 | | | | (0.17 | ) | | | 1.30 | | | | 1.13 | | | | — | | | | — | | | | — | | | $ | 13.45 | | | | 9.17 | % | | | 2.62 | % | | | 1.78 | % | | | (1.31 | )% | | $ | 2,933 | | | | — | |
| Year Ended July 31, 2021 | | $ | 12.02 | | | | (0.22 | ) | | | 0.52 | | | | 0.30 | | | | — | | | | — | | | | — | | | $ | 12.32 | | | | 2.50 | % | | | 2.69 | % | | | 1.78 | % | | | (1.77 | )% | | $ | 1,832 | | | | — | |
| Year Ended July 31, 2020 | | $ | 14.16 | | | | (0.09 | ) | | | (1.97 | ) | | | (2.06 | ) | | | (0.08 | ) | | | — | | | | (0.08 | ) | | $ | 12.02 | | | | (14.62 | )% | | | 2.66 | % | | | 1.85 | % | | | (0.71 | )% | | $ | 1,773 | | | | — | |
| Year Ended July 31, 2019 | | $ | 15.46 | | | | 0.06 | | | | (1.36 | ) | | | (1.30 | ) | | | — | | | | — | | | | — | | | $ | 14.16 | | | | (8.41 | )% | | | 1.79 | % | | | 1.74 | % | | | 0.38 | % | | $ | 2,683 | | | | — | |
| Year Ended July 31, 2018 | | $ | 14.91 | | | | (0.06 | ) | | | 0.61 | | | | 0.55 | | | | — | | | | — | | | | — | | | $ | 15.46 | | | | 3.69 | % | | | 1.73 | % | | | 1.73 | % | | | (0.37 | )% | | $ | 16,172 | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 12.26 | | | | 0.04 | | | | 0.80 | | | | 0.84 | | | | — | | | | — | | | | — | | | $ | 13.10 | | | | 6.85 | % | | | 3.23 | % | | | 2.78 | % | | | 0.46 | % | | $ | 768 | | | | — | |
| Year Ended July 31, 2022 | | $ | 11.34 | | | | (0.29 | ) | | | 1.21 | | | | 0.92 | | | | — | | | | — | | | | — | | | $ | 12.26 | | | | 8.11 | % | | | 3.62 | % | | | 2.78 | % | | | (2.31 | )% | | $ | 762 | | | | — | |
| Year Ended July 31, 2021 | | $ | 11.18 | | | | (0.34 | ) | | | 0.50 | | | | 0.16 | | | | — | | | | — | | | | — | | | $ | 11.34 | | | | 1.43 | % | | | 3.69 | % | | | 2.78 | % | | | (2.77 | )% | | $ | 121 | | | | — | |
| Year Ended July 31, 2020 | | $ | 13.22 | | | | (0.22 | ) | | | (1.82 | ) | | | (2.04 | ) | | | — | | | | — | | | | — | | | $ | 11.18 | | | | (15.43 | )% | | | 3.66 | % | | | 2.85 | % | | | (1.71 | )% | | $ | 82 | | | | — | |
| Year Ended July 31, 2019 | | $ | 14.57 | | | | (0.08 | ) | | | (1.27 | ) | | | (1.35 | ) | | | — | | | | — | | | | — | | | $ | 13.22 | | | | (9.27 | )% | | | 2.79 | % | | | 2.74 | % | | | (0.62 | )% | | $ | 288 | | | | — | |
| Year Ended July 31, 2018 | | $ | 14.20 | | | | (0.20 | ) | | | 0.57 | | | | 0.37 | | | | — | | | | — | | | | — | | | $ | 14.57 | | | | 2.61 | % | | | 2.73 | % | | | 2.73 | % | | | (1.37 | )% | | $ | 350 | | | | — | |
| Rising U.S. Dollar ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 30.65 | | | | 0.22 | | | | (0.95 | ) | | | (0.73 | ) | | | — | | | | (0.66 | ) | | | (0.66 | ) | | $ | 29.26 | | | | (2.42 | )% | | | 1.75 | % | | | 1.75 | % | | | 1.40 | % | | $ | 17,978 | | | | — | |
| Year Ended July 31, 2022 | | $ | 27.16 | | | | (0.38 | ) | | | 3.87 | | | | 3.49 | | | | — | | | | — | | | | — | | | $ | 30.65 | | | | 12.85 | % | | | 1.82 | % | | | 1.78 | % | | | (1.32 | )% | | $ | 46,695 | | | | — | |
| Year Ended July 31, 2021 | | $ | 27.99 | | | | (0.48 | ) | | | (0.35 | ) | | | (0.83 | ) | | | — | | | | — | | | | — | | | $ | 27.16 | | | | (2.97 | )% | | | 2.13 | % | | | 1.78 | % | | | (1.77 | )% | | $ | 6,264 | | | | — | |
| Year Ended July 31, 2020 | | $ | 29.59 | | | | (0.24 | ) | | | (1.28 | ) | | | (1.52 | ) | | | (0.08 | ) | | | — | | | | (0.08 | ) | | $ | 27.99 | | | | (5.15 | )% | | | 1.97 | % | | | 1.78 | % | | | (0.82 | )% | | $ | 7,263 | | | | — | |
| Year Ended July 31, 2019 | | $ | 27.81 | | | | 0.08 | | | | 1.82 | | | | 1.90 | | | | — | | | | (0.12 | ) | | | (0.12 | ) | | $ | 29.59 | | | | 6.85 | % | | | 1.87 | % | | | 1.81 | % | | | 0.28 | % | | $ | 12,437 | | | | — | |
| Year Ended July 31, 2018 | | $ | 27.10 | | | | (0.15 | ) | | | 0.86 | | | | 0.71 | | | | — | | | | — | | | | — | | | $ | 27.81 | | | | 2.62 | % | | | 1.80 | % | | | 1.80 | % | | | (0.57 | )% | | $ | 14,793 | | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Six Months Ended
January 31, 2023 (unaudited) | | $ | 26.56 | | | | 0.08 | | | | (0.85 | ) | | | (0.77 | ) | | | — | | | | (0.66 | ) | | | (0.66 | ) | | $ | 25.13 | | | | (2.91 | )% | | | 2.75 | % | | | 2.75 | % | | | 0.40 | % | | $ | 56 | | | | — | |
| Year Ended July 31, 2022 | | $ | 23.77 | | | | (0.63 | ) | | | 3.42 | | | | 2.79 | | | | — | | | | — | | | | — | | | $ | 26.56 | | | | 11.70 | % | | | 2.82 | % | | | 2.78 | % | | | (2.32 | )% | | $ | 182 | | | | — | |
| Year Ended July 31, 2021 | | $ | 24.74 | | | | (0.72 | ) | | | (0.25 | ) | | | (0.97 | ) | | | — | | | | — | | | | — | | | $ | 23.77 | | | | (3.92 | )% | | | 3.13 | % | | | 2.78 | % | | | (2.77 | )% | | $ | 52 | | | | — | |
| Year Ended July 31, 2020 | | $ | 26.34 | | | | (0.50 | ) | | | (1.10 | ) | | | (1.60 | ) | | | — | | | | — | | | | — | | | $ | 24.74 | | | | (6.07 | )% | | | 2.97 | % | | | 2.78 | % | | | (1.82 | )% | | $ | 63 | | | | — | |
| Year Ended July 31, 2019 | | $ | 25.02 | | | | (0.18 | ) | | | 1.62 | | | | 1.44 | | | | — | | | | (0.12 | ) | | | (0.12 | ) | | $ | 26.34 | | | | 5.77 | % | | | 2.87 | % | | | 2.81 | % | | | (0.72 | )% | | $ | 144 | | | | — | |
| Year Ended July 31, 2018 | | $ | 24.59 | | | | (0.40 | ) | | | 0.83 | | | | 0.43 | | | | — | | | | — | | | | — | | | $ | 25.02 | | | | 1.67 | % | | | 2.80 | % | | | 2.80 | % | | | (1.57 | )% | | $ | 1,002 | | | | — | |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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). |
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 | | | | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | Total
Return(b) | | Gross
Expenses(c) | | Net
Expenses(c) | | | Net
Investment
Income
(Loss)(c) | | | | Net
Assets,
End of
Period
(000's) | | Portfolio
Turnover
Rate(b)(d) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Semiconductor UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 92.94 | | | 0.14 | | | (6.07 | ) | | (5.93 | ) | | — | | | — | | | — | | | $ | 87.01 | | | (6.39 | )% | | 1.61 | % | | 1.61 | % | | 0.38 | % | | $ | 60,631 | | 16 | % |
| Year Ended July 31, 2022 | | $ | 118.09 | | | (0.68 | ) | | (17.85 | ) | | (18.53 | ) | | — | | | (6.62 | ) | | (6.62 | ) | | $ | 92.94 | | | (17.93 | )% | | 1.49 | % | | 1.49 | % | | (0.59 | )% | | $ | 64,313 | | 53 | % |
| Year Ended July 31, 2021 | | $ | 63.61 | | | (0.58 | ) | | 55.06 | | | 54.48 | | | — | | | — | | | — | | | $ | 118.09 | | | 85.65 | % | | 1.58 | % | | 1.58 | % | | (0.63 | )% | | $ | 79,845 | | 70 | % |
| Year Ended July 31, 2020 | | $ | 46.14 | | | 0.06 | | | 18.69 | | | 18.75 | | | (0.02 | ) | | (1.26 | ) | | (1.28 | ) | | $ | 63.61 | | | 42.27 | % | | 1.65 | % | | 1.65 | % | | 0.11 | % | | $ | 51,355 | | 169 | % |
| Year Ended July 31, 2019 | | $ | 61.56 | | | 0.34 | | | (2.58 | ) | | (2.24 | ) | | (0.53 | ) | | (12.65 | ) | | (13.18 | ) | | $ | 46.14 | | | 5.55 | % | | 1.55 | % | | 1.55 | % | | 0.69 | % | | $ | 64,715 | | 106 | % |
| Year Ended July 31, 2018 | | $ | 48.20 | | | 0.04 | | | 19.14 | | | 19.18 | | | (0.06 | ) | | (5.76 | ) | | (5.82 | ) | | $ | 61.56 | | | 40.36 | % | | 1.44 | % | | 1.44 | % | | 0.07 | % | | $ | 245,143 | | 56 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 68.34 | | | (0.14 | ) | | (4.54 | ) | | (4.68 | ) | | — | | | — | | | — | | | $ | 63.66 | | | (6.86 | )% | | 2.61 | % | | 2.61 | % | | (0.62 | )% | | $ | 3,041 | | 16 | % |
| Year Ended July 31, 2022 | | $ | 88.98 | | | (1.57 | ) | | (12.45 | ) | | (14.02 | ) | | — | | | (6.62 | ) | | (6.62 | ) | | $ | 68.34 | | | (18.76 | )% | | 2.49 | % | | 2.49 | % | | (1.59 | )% | | $ | 4,254 | | 53 | % |
| Year Ended July 31, 2021 | | $ | 48.41 | | | (1.29 | ) | | 41.86 | | | 40.57 | | | — | | | — | | | — | | | $ | 88.98 | | | 83.81 | % | | 2.58 | % | | 2.58 | % | | (1.63 | )% | | $ | 5,376 | | 70 | % |
| Year Ended July 31, 2020 | | $ | 35.79 | | | (0.34 | ) | | 14.22 | | | 13.88 | | | — | | | (1.26 | ) | | (1.26 | ) | | $ | 48.41 | | | 40.81 | % | | 2.65 | % | | 2.65 | % | | (0.89 | )% | | $ | 2,187 | | 169 | % |
| Year Ended July 31, 2019 | | $ | 51.46 | | | (0.04 | ) | | (2.98 | ) | | (3.02 | ) | | — | | | (12.65 | ) | | (12.65 | ) | | $ | 35.79 | | | 4.49 | % | | 2.55 | % | | 2.55 | % | | (0.31 | )% | | $ | 1,984 | | 106 | % |
| Year Ended July 31, 2018 | | $ | 41.34 | | | (0.47 | ) | | 16.35 | | | 15.88 | | | — | | | (5.76 | ) | | (5.76 | ) | | $ | 51.46 | | | 38.97 | % | | 2.44 | % | | 2.44 | % | | (0.93 | )% | | $ | 4,691 | | 56 | % |
| Short Energy ProFund* | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 17.57 | | | 0.12 | | | (2.99 | ) | | (2.87 | ) | | — | | | — | | | — | | | $ | 14.70 | | | (16.33 | )% | | 3.39 | % | | 1.78 | % | | 1.56 | % | | $ | 1,260 | | — | |
| Year Ended July 31, 2022 | | $ | 32.82 | | | (0.29 | ) | | (14.96 | ) | | (15.25 | ) | | — | | | — | | | — | | | $ | 17.57 | | | (46.47 | )% | | 3.74 | % | | 1.78 | % | | (1.28 | )% | | $ | 2,135 | | — | |
| Year Ended July 31, 2021 | | $ | 55.89 | | | (0.85 | ) | | (22.22 | ) | | (23.07 | ) | | — | | | — | | | — | | | $ | 32.82 | | | (41.28 | )% | | 3.16 | % | | 1.78 | % | | (1.76 | )% | | $ | 418 | | — | |
| Year Ended July 31, 2020 | | $ | 46.83 | | | (0.46 | ) | | 9.65 | | | 9.19 | | | (0.13 | ) | | — | | | (0.13 | ) | | $ | 55.89 | | | 19.69 | % | | 2.84 | % | | 1.78 | % | | (0.84 | )% | | $ | 2,804 | | — | |
| Year Ended July 31, 2019 | | $ | 39.19 | | | 0.19 | | | 7.45 | | | 7.64 | | | — | | | — | | | — | | | $ | 46.83 | | | 19.49 | % | | 3.34 | % | | 1.78 | % | | 0.43 | % | | $ | 2,115 | | — | |
| Year Ended July 31, 2018 | | $ | 48.45 | | | (0.21 | ) | | (9.05 | ) | | (9.26 | ) | | — | | | — | | | — | | | $ | 39.19 | | | (19.11 | )% | | 2.62 | % | | 1.78 | % | | (0.48 | )% | | $ | 1,636 | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 16.20 | | | 0.05 | | | (2.78 | ) | | (2.73 | ) | | — | | | — | | | — | | | $ | 13.47 | | | (16.74 | )% | | 4.39 | % | | 2.78 | % | | 0.56 | % | | $ | 3 | | — | |
| Year Ended July 31, 2022 | | $ | 30.52 | | | (0.53 | ) | | (13.79 | ) | | (14.32 | ) | | — | | | — | | | — | | | $ | 16.20 | | | (46.97 | )% | | 4.74 | % | | 2.78 | % | | (2.28 | )% | | $ | 12 | | — | |
| Year Ended July 31, 2021 | | $ | 52.45 | | | (1.25 | ) | | (20.68 | ) | | (21.93 | ) | | — | | | — | | | — | | | $ | 30.52 | | | (41.81 | )% | | 4.15 | % | | 2.77 | % | | (2.75 | )% | | $ | 25 | | — | |
| Year Ended July 31, 2020 | | $ | 44.39 | | | (0.99 | ) | | 9.05 | | | 8.06 | | | — | | | — | | | — | | | $ | 52.45 | | | 18.63 | % | | 3.84 | % | | 2.78 | % | | (1.84 | )% | | $ | 32 | | — | |
| Year Ended July 31, 2019 | | $ | 37.27 | | | (0.24 | ) | | 7.36 | | | 7.12 | | | — | | | — | | | — | | | $ | 44.39 | | | 18.39 | % | | 4.34 | % | | 2.78 | % | | (0.57 | )% | | $ | 3 | | — | |
| Year Ended July 31, 2018 | | $ | 46.66 | | | (0.68 | ) | | (8.71 | ) | | (9.39 | ) | | — | | | — | | | — | | | $ | 37.27 | | | (19.95 | )% | | 3.62 | % | | 2.78 | % | | (1.48 | )% | | $ | 3 | | — | |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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. |
| * | As described in Note 11, effective March 17, 2023, this ProFund's name changed due to a change to its underlying benchmark index. |
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 | | | | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | Total
Return(b) | | Gross
Expenses(c) | | Net
Expenses(c) | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | Portfolio
Turnover
Rate(b)(d) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Short Nasdaq-100 ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited)(e) | | $ | 74.03 | | | 0.55 | | | 2.87 | | | 3.42 | | | — | | | — | | | $ | 77.45 | | | 4.59 | % | | 1.78 | % | | 1.78 | % | | 1.38 | % | | $ | 7,190 | | | — | |
| Year Ended July 31, 2022(e) | | $ | 71.44 | | | (0.85 | ) | | 3.44 | (f) | | 2.59 | | | — | | | — | | | $ | 74.03 | | | 3.64 | % | | 1.81 | % | | 1.78 | % | | (1.13 | )% | | $ | 79,796 | | | — | |
| Year Ended July 31, 2021(e) | | $ | 104.36 | | | (1.55 | ) | | (31.37 | ) | | (32.92 | ) | | — | | | — | | | $ | 71.44 | | | (31.63 | )% | | 2.02 | % | | 1.78 | % | | (1.76 | )% | | $ | 1,764 | | | — | |
| Year Ended July 31, 2020(e)(g) | | $ | 167.29 | | | (0.90 | ) | | (61.58 | ) | | (62.48 | ) | | (0.45 | ) | | (0.45 | ) | | $ | 104.36 | | | (37.32 | )% | | 2.01 | % | | 1.78 | % | | (1.00 | )% | | $ | 2,400 | | | — | |
| Year Ended July 31, 2019(e)(g) | | $ | 186.52 | | | 0.80 | | | (20.03 | ) | | (19.23 | ) | | — | | | — | | | $ | 167.29 | | | (10.40 | )% | | 2.37 | % | | 1.78 | % | | 0.46 | % | | $ | 4,429 | | | — | |
| Year Ended July 31, 2018(e)(g) | | $ | 235.48 | | | (1.00 | ) | | (47.96 | ) | | (48.96 | ) | | — | | | — | | | $ | 186.52 | | | (20.66 | )% | | 2.42 | % | | 1.78 | % | | (0.44 | )% | | $ | 2,572 | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited)(e) | | $ | 64.86 | | | 0.20 | | | 2.49 | | | 2.69 | | | — | | | — | | | $ | 67.55 | | | 4.16 | % | | 2.78 | % | | 2.78 | % | | 0.38 | % | | $ | 378 | | | — | |
| Year Ended July 31, 2022(e) | | $ | 63.39 | | | (1.50 | ) | | 2.97 | (f) | | 1.47 | | | — | | | — | | | $ | 64.86 | | | 2.29 | % | | 2.81 | % | | 2.78 | % | | (2.13 | )% | | $ | 241 | | | — | |
| Year Ended July 31, 2021(e) | | $ | 93.34 | | | (2.30 | ) | | (27.65 | ) | | (29.95 | ) | | — | | | — | | | $ | 63.39 | | | (32.26 | )% | | 3.02 | % | | 2.78 | % | | (2.76 | )% | | $ | 111 | | | — | |
| Year Ended July 31, 2020(e)(g) | | $ | 150.75 | | | (1.65 | ) | | (55.76 | ) | | (57.41 | ) | | — | | | — | | | $ | 93.34 | | | (37.93 | )% | | 3.01 | % | | 2.78 | % | | (2.00 | )% | | $ | 320 | | | — | |
| Year Ended July 31, 2019(e)(g) | | $ | 169.79 | | | (0.80 | ) | | (18.24 | ) | | (19.04 | ) | | — | | | — | | | $ | 150.75 | | | (11.19 | )% | | 3.37 | % | | 2.78 | % | | (0.54 | )% | | $ | 788 | | | — | |
| Year Ended July 31, 2018(e)(g) | | $ | 216.36 | | | (2.80 | ) | | (43.77 | ) | | (46.57 | ) | | — | | | — | | | $ | 169.79 | | | (21.46 | )% | | 3.42 | % | | 2.78 | % | | (1.44 | )% | | $ | 360 | | | — | |
| Short Precious Metals ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 17.45 | | | 0.13 | | | (4.23 | ) | | (4.10 | ) | | — | | | — | | | $ | 13.35 | | | (23.50 | )% | | 2.43 | % | | 1.78 | % | | 1.54 | % | | $ | 4,760 | | | — | |
| Year Ended July 31, 2022 | | $ | 14.83 | | | (0.22 | ) | | 2.84 | | | 2.62 | | | — | | | — | | | $ | 17.45 | | | 17.67 | % | | 2.79 | % | | 1.78 | % | | (1.45 | )% | | $ | 2,072 | | | — | |
| Year Ended July 31, 2021 | | $ | 14.53 | | | (0.27 | ) | | 0.57 | | | 0.30 | | | — | | | — | | | $ | 14.83 | | | 2.06 | % | | 2.86 | % | | 1.78 | % | | (1.76 | )% | | $ | 2,144 | | | — | |
| Year Ended July 31, 2020 | | $ | 32.94 | | | (0.12 | ) | | (18.02 | ) | | (18.14 | ) | | (0.27 | ) | | (0.27 | ) | | $ | 14.53 | | | (55.43 | )% | | 2.97 | % | | 1.78 | % | | (0.47 | )% | | $ | 1,564 | | | — | |
| Year Ended July 31, 2019 | | $ | 42.91 | | | 0.20 | | | (10.17 | ) | | (9.97 | ) | | — | | | — | | | $ | 32.94 | | | (23.23 | )% | | 2.13 | % | | 1.78 | % | | 0.47 | % | | $ | 4,649 | | | — | |
| Year Ended July 31, 2018 | | $ | 40.33 | | | (0.21 | ) | | 2.79 | | | 2.58 | | | — | | | — | | | $ | 42.91 | | | 6.40 | % | | 2.18 | % | | 1.78 | % | | (0.53 | )% | | $ | 6,552 | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 16.80 | | | 0.05 | | | (4.03 | ) | | (3.98 | ) | | — | | | — | | | $ | 12.82 | | | (23.70 | )% | | 3.43 | % | | 2.78 | % | | 0.54 | % | | $ | 11 | | | — | |
| Year Ended July 31, 2022 | | $ | 14.43 | | | (0.37 | ) | | 2.74 | | | 2.37 | | | — | | | — | | | $ | 16.80 | | | 16.35 | % | | 3.79 | % | | 2.78 | % | | (2.45 | )% | | $ | 17 | | | — | |
| Year Ended July 31, 2021 | | $ | 14.31 | | | (0.42 | ) | | 0.54 | | | 0.12 | | | — | | | — | | | $ | 14.43 | | | 0.84 | % | | 3.86 | % | | 2.78 | % | | (2.76 | )% | | $ | 14 | | | — | |
| Year Ended July 31, 2020 | | $ | 32.41 | | | (0.36 | ) | | (17.74 | ) | | (18.10 | ) | | — | | | — | | | $ | 14.31 | | | (55.85 | )% | | 3.97 | % | | 2.78 | % | | (1.47 | )% | | $ | 65 | | | — | |
| Year Ended July 31, 2019 | | $ | 42.65 | | | (0.22 | ) | | (10.02 | ) | | (10.24 | ) | | — | | | — | | | $ | 32.41 | | | (24.01 | )% | | 3.13 | % | | 2.78 | % | | (0.53 | )% | | $ | 26 | | | — | |
| Year Ended July 31, 2018 | | $ | 40.48 | | | (0.61 | ) | | 2.78 | | | 2.17 | | | — | | | — | | | $ | 42.65 | | | 5.36 | % | | 3.18 | % | | 2.78 | % | | (1.53 | )% | | $ | 42 | | | — | |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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). |
| (e) | As described in Note 11, share amounts have been adjusted for 1:5 reverse share split that occurred on March 13, 2023. |
| (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 purchases of fund shares in relation to fluctuating market values during the period. |
| (g) | As described in Note 9, share amounts have been adjusted for 1:4 reverse share split that occurred on November 18, 2019. |
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 | | | | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | Total
Return(b) | | Gross
Expenses(c) | | Net
Expenses(c) | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | Portfolio
Turnover
Rate(b)(d) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Short Real Estate ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 8.10 | | | 0.07 | | | 0.34 | (f) | | 0.41 | | | — | | | — | | | $ | 8.51 | | | 5.06 | % | | 2.88 | % | | 1.78 | % | | 1.54 | % | | $ | 1,479 | | | — | |
| Year Ended July 31, 2022 | | $ | 8.19 | | | (0.10 | ) | | 0.01 | (f) | | (0.09 | ) | | — | | | — | | | $ | 8.10 | | | (1.10 | )% | | 5.81 | % | | 1.78 | % | | (1.28 | )% | | $ | 1,875 | | | — | |
| Year Ended July 31, 2021 | | $ | 11.45 | | | (0.19 | ) | | (3.07 | ) | | (3.26 | ) | | — | | | — | | | $ | 8.19 | | | (28.47 | )% | | 4.69 | % | | 1.78 | % | | (1.76 | )% | | $ | 515 | | | — | |
| Year Ended July 31, 2020 | | $ | 12.89 | | | (0.14 | ) | | (1.30 | ) | | (1.44 | ) | | — | | | — | | | $ | 11.45 | | | (11.17 | )% | | 4.05 | % | | 1.78 | % | | (1.09 | )% | | $ | 1,720 | | | — | |
| Year Ended July 31, 2019 | | $ | 14.61 | | | 0.06 | | | (1.78 | ) | | (1.72 | ) | | — | | | — | | | $ | 12.89 | | | (11.77 | )% | | 3.76 | % | | 1.78 | % | | 0.40 | % | | $ | 1,199 | | | — | |
| Year Ended July 31, 2018 | | $ | 15.43 | | | (0.06 | ) | | (0.76 | ) | | (0.82 | ) | | — | | | — | | | $ | 14.61 | | | (5.31 | )% | | 3.16 | % | | 1.78 | % | | (0.38 | )% | | $ | 1,453 | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 7.03 | | | 0.03 | | | 0.29 | (f) | | 0.32 | | | — | | | — | | | $ | 7.35 | | | 4.55 | % | | 3.88 | % | | 2.78 | % | | 0.54 | % | | $ | 17 | | | — | |
| Year Ended July 31, 2022 | | $ | 7.19 | | | (0.17 | ) | | 0.01 | (f) | | (0.16 | ) | | — | | | — | | | $ | 7.03 | | | (2.23 | )% | | 6.81 | % | | 2.78 | % | | (2.28 | )% | | $ | 14 | | | — | |
| Year Ended July 31, 2021 | | $ | 10.15 | | | (0.28 | ) | | (2.68 | ) | | (2.96 | ) | | — | | | — | | | $ | 7.19 | | | (29.16 | )% | | 5.69 | % | | 2.78 | % | | (2.76 | )% | | $ | 14 | | | — | |
| Year Ended July 31, 2020 | | $ | 11.53 | | | (0.25 | ) | | (1.13 | ) | | (1.38 | ) | | — | | | — | | | $ | 10.15 | | | (12.05 | )% | | 5.05 | % | | 2.78 | % | | (2.09 | )% | | $ | 20 | | | — | |
| Year Ended July 31, 2019 | | $ | 13.20 | | | (0.07 | ) | | (1.60 | ) | | (1.67 | ) | | — | | | — | | | $ | 11.53 | | | (12.58 | )% | | 4.76 | % | | 2.78 | % | | (0.60 | )% | | $ | 15 | | | — | |
| Year Ended July 31, 2018 | | $ | 14.08 | | | (0.20 | ) | | (0.68 | ) | | (0.88 | ) | | — | | | — | | | $ | 13.20 | | | (6.25 | )% | | 4.16 | % | | 2.78 | % | | (1.38 | )% | | $ | 364 | | | — | |
| Short Small-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited)(e) | | $ | 37.05 | | | 0.35 | | | (2.02 | )(f) | | (1.67 | ) | | — | | | — | | | $ | 35.38 | | | (4.45 | )% | | 2.43 | % | | 1.78 | % | | 1.87 | % | | $ | 1,953 | | | — | |
| Year Ended July 31, 2022(e) | | $ | 34.71 | | | (0.55 | ) | | 2.89 | (f) | | 2.34 | | | — | | | — | | | $ | 37.05 | | | 6.77 | % | | 2.26 | % | | 1.78 | % | | (1.56 | )% | | $ | 1,412 | | | — | |
| Year Ended July 31, 2021(e) | | $ | 57.13 | | | (0.75 | ) | | (21.67 | ) | | (22.42 | ) | | — | | | — | | | $ | 34.71 | | | (39.23 | )% | | 3.63 | % | | 1.78 | % | | (1.77 | )% | | $ | 1,089 | | | — | |
| Year Ended July 31, 2020(e) | | $ | 65.49 | | | (0.65 | ) | | (7.21 | ) | | (7.86 | ) | | (0.50 | ) | | (0.50 | ) | | $ | 57.13 | | | (12.09 | )% | | 3.28 | % | | 1.78 | % | | (0.98 | )% | | $ | 1,802 | | | — | |
| Year Ended July 31, 2019(e) | | $ | 63.40 | | | 0.30 | | | 1.79 | | | 2.09 | | | — | | | — | | | $ | 65.49 | | | 3.31 | % | | 2.76 | % | | 1.78 | % | | 0.44 | % | | $ | 1,138 | | | — | |
| Year Ended July 31, 2018(e) | | $ | 76.47 | | | (0.45 | ) | | (12.62 | ) | | (13.07 | ) | | — | | | — | | | $ | 63.40 | | | (17.07 | )% | | 2.73 | % | | 1.86 | % | | (0.61 | )% | | $ | 3,456 | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited)(e) | | $ | 34.76 | | | 0.20 | | | (1.88 | )(f) | | (1.68 | ) | | — | | | — | | | $ | 33.08 | | | (4.75 | )% | | 3.43 | % | | 2.78 | % | | 0.87 | % | | $ | 43 | | | — | |
| Year Ended July 31, 2022(e) | | $ | 32.93 | | | (0.90 | ) | | 2.73 | (f) | | 1.83 | | | — | | | — | | | $ | 34.76 | | | 5.46 | % | | 3.26 | % | | 2.78 | % | | (2.56 | )% | | $ | 162 | | | — | |
| Year Ended July 31, 2021(e) | | $ | 54.82 | | | (1.15 | ) | | (20.74 | ) | | (21.89 | ) | | — | | | — | | | $ | 32.93 | | | (39.87 | )% | | 4.63 | % | | 2.78 | % | | (2.77 | )% | | $ | 24 | | | — | |
| Year Ended July 31, 2020(e) | | $ | 62.98 | | | (1.30 | ) | | (6.86 | ) | | (8.16 | ) | | — | | | — | | | $ | 54.82 | | | (13.02 | )% | | 4.28 | % | | 2.78 | % | | (1.98 | )% | | $ | 33 | | | — | |
| Year Ended July 31, 2019(e) | | $ | 61.57 | | | (0.35 | ) | | 1.76 | | | 1.41 | | | — | | | — | | | $ | 62.98 | | | 2.27 | % | | 3.75 | % | | 2.77 | % | | (0.55 | )% | | $ | 33 | | | — | |
| Year Ended July 31, 2018(e) | | $ | 75.06 | | | (1.10 | ) | | (12.40 | ) | | (13.49 | ) | | — | | | — | | | $ | 61.57 | | | (17.92 | )% | | 3.73 | % | | 2.86 | % | | (1.61 | )% | | $ | 155 | | | — | |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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). |
| (e) | As described in Note 11, share amounts have been adjusted for 1:5 reverse share split that occurred on March 6, 2023. |
| (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 purchases of fund shares in relation to fluctuating market values during the period. |
See accompanying notes to the financial statements.
Financial Highlights :: 263
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 | | | | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | Total
Return(b) | | Gross
Expenses(c) | | Net
Expenses(c) | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | Portfolio
Turnover
Rate(b)(d) | |
| Small-Cap Growth ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 102.43 | | | (0.24 | ) | | (1.72 | ) | | (1.96 | ) | | (3.45 | ) | | (3.45 | ) | | $ | 97.02 | | | (1.68 | )% | | 2.09 | % | | 1.90 | % | | (0.51 | )% | | $ | 3,859 | | | 109 | % |
| Year Ended July 31, 2022 | | $ | 126.49 | | | (0.96 | ) | | (13.02 | ) | | (13.98 | ) | | (10.08 | ) | | (10.08 | ) | | $ | 102.43 | | | (12.08 | )%(e) | | 1.95 | % | | 1.92 | % | | (0.87 | )% | | $ | 9,587 | | | 462 | % |
| Year Ended July 31, 2021 | | $ | 86.21 | | | (0.88 | ) | | 41.16 | | | 40.28 | | | — | | | — | | | $ | 126.49 | | | 46.72 | % | | 1.60 | % | | 1.60 | % | | (0.81 | )% | | $ | 9,062 | | | 659 | % |
| Year Ended July 31, 2020 | | $ | 89.25 | | | (0.66 | ) | | (2.38 | ) | | (3.04 | ) | | — | | | — | | | $ | 86.21 | | | (3.41 | )% | | 1.83 | % | | 1.83 | % | | (0.80 | )% | | $ | 7,867 | | | 442 | % |
| Year Ended July 31, 2019 | | $ | 99.63 | | | (0.61 | ) | | (6.40 | ) | | (7.01 | ) | | (3.37 | ) | | (3.37 | ) | | $ | 89.25 | | | (6.53 | )% | | 1.65 | % | | 1.65 | % | | (0.67 | )% | | $ | 10,121 | | | 474 | % |
| Year Ended July 31, 2018 | | $ | 80.84 | | | (0.72 | ) | | 19.51 | | | 18.79 | | | — | | | — | | | $ | 99.63 | | | 23.24 | % | | 1.68 | % | | 1.68 | % | | (0.81 | )% | | $ | 28,543 | | | 629 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 79.28 | | | (0.62 | ) | | (1.33 | ) | | (1.95 | ) | | (3.45 | ) | | (3.45 | ) | | $ | 73.88 | | | (2.16 | )% | | 3.09 | % | | 2.90 | % | | (1.51 | )% | | $ | 468 | | | 109 | % |
| Year Ended July 31, 2022 | | $ | 101.09 | | | (1.86 | ) | | (9.86 | ) | | (11.73 | ) | | (10.08 | ) | | (10.08 | ) | | $ | 79.28 | | | (12.94 | )%(e) | | 2.95 | % | | 2.92 | % | | (1.87 | )% | | $ | 1,235 | | | 462 | % |
| Year Ended July 31, 2021 | | $ | 69.60 | | | (1.76 | ) | | 33.25 | | | 31.49 | | | — | | | — | | | $ | 101.09 | | | 45.24 | % | | 2.60 | % | | 2.60 | % | | (1.81 | )% | | $ | 833 | | | 659 | % |
| Year Ended July 31, 2020 | | $ | 72.78 | | | (1.36 | ) | | (1.82 | ) | | (3.18 | ) | | — | | | — | | | $ | 69.60 | | | (4.36 | )% | | 2.83 | % | | 2.83 | % | | (1.80 | )% | | $ | 782 | | | 442 | % |
| Year Ended July 31, 2019 | | $ | 82.80 | | | (1.37 | ) | | (5.28 | ) | | (6.65 | ) | | (3.37 | ) | | (3.37 | ) | | $ | 72.78 | | | (7.46 | )% | | 2.65 | % | | 2.65 | % | | (1.67 | )% | | $ | 1,905 | | | 474 | % |
| Year Ended July 31, 2018 | | $ | 67.86 | | | (1.44 | ) | | 16.38 | | | 14.94 | | | — | | | — | | | $ | 82.80 | | | 22.02 | % | | 2.68 | % | | 2.68 | % | | (1.81 | )% | | $ | 1,751 | | | 629 | % |
| Small-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 98.02 | | | 0.31 | | | 1.70 | (f) | | 2.01 | | | — | | | — | | | $ | 100.03 | | | 2.05 | % | | 2.63 | % | | 1.78 | % | | 0.66 | % | | $ | 2,747 | | | 439 | % |
| Year Ended July 31, 2022 | | $ | 117.00 | | | (1.20 | ) | | (17.78 | )(f) | | (18.98 | ) | | — | | | — | | | $ | 98.02 | | | (16.22 | )%(g) | | 2.18 | % | | 1.78 | % | | (1.10 | )% | | $ | 2,627 | | | 137 | % |
| Year Ended July 31, 2021 | | $ | 78.58 | | | (1.51 | ) | | 39.93 | | | 38.42 | | | — | | | — | | | $ | 117.00 | | | 48.89 | % | | 2.03 | % | | 1.81 | % | | (1.40 | )% | | $ | 9,241 | | | 115 | % |
| Year Ended July 31, 2020 | | $ | 85.23 | | | (0.78 | ) | | (5.87 | ) | | (6.65 | ) | | — | | | — | | | $ | 78.58 | | | (7.80 | )%(h) | | 2.42 | % | | 2.07 | %(i) | | (0.98 | )% | | $ | 3,030 | | | 109 | % |
| Year Ended July 31, 2019 | | $ | 90.80 | | | (0.04 | ) | | (5.53 | ) | | (5.57 | ) | | — | | | — | | | $ | 85.23 | | | (6.13 | )% | | 1.77 | % | | 1.77 | % | | (0.05 | )% | | $ | 8,261 | | | 11 | % |
| Year Ended July 31, 2018 | | $ | 78.18 | | | (0.28 | ) | | 12.90 | | | 12.62 | | | — | | | — | | | $ | 90.80 | | | 16.14 | % | | 1.58 | % | | 1.58 | % | | (0.34 | )% | | $ | 43,292 | | | 63 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 79.51 | | | (0.08 | ) | | 1.29 | (f) | | 1.21 | | | — | | | — | | | $ | 80.72 | | | 1.52 | % | | 3.63 | % | | 2.78 | % | | (0.34 | )% | | $ | 322 | | | 439 | % |
| Year Ended July 31, 2022 | | $ | 95.85 | | | (2.09 | ) | | (14.25 | )(f) | | (16.34 | ) | | — | | | — | | | $ | 79.51 | | | (17.05 | )%(g) | | 3.18 | % | | 2.78 | % | | (2.10 | )% | | $ | 320 | | | 137 | % |
| Year Ended July 31, 2021 | | $ | 65.02 | | | (2.40 | ) | | 33.23 | | | 30.83 | | | — | | | — | | | $ | 95.85 | | | 47.43 | % | | 3.03 | % | | 2.81 | % | | (2.40 | )% | | $ | 668 | | | 115 | % |
| Year Ended July 31, 2020 | | $ | 71.24 | | | (1.45 | ) | | (4.77 | ) | | (6.22 | ) | | — | | | — | | | $ | 65.02 | | | (8.74 | )%(h) | | 3.42 | % | | 3.07 | %(i) | | (1.98 | )% | | $ | 237 | | | 109 | % |
| Year Ended July 31, 2019 | | $ | 76.65 | | | (0.77 | ) | | (4.64 | ) | | (5.41 | ) | | — | | | — | | | $ | 71.24 | | | (7.05 | )% | | 2.77 | % | | 2.77 | % | | (1.05 | )% | | $ | 408 | | | 11 | % |
| Year Ended July 31, 2018 | | $ | 66.62 | | | (1.01 | ) | | 11.04 | | | 10.03 | | | — | | | — | | | $ | 76.65 | | | 15.06 | % | | 2.58 | % | | 2.58 | % | | (1.34 | )% | | $ | 2,705 | | | 63 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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. |
| (e) | During the year ended July 31, 2022, the Fund received monies related to certain nonrecurring litigation settlements. The corresponding impact to the total return was 0.04%. |
| (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 purchases of fund shares in relation to fluctuating market values during the period. |
| (g) | During the year ended July 31, 2022, the Fund received monies related to certain nonrecurring litigation settlements. The corresponding impact to the total return was 0.06%. |
| (h) | During the year ended July 31, 2020, the Fund received monies related to certain nonrecurring litigation settlements. The corresponding impact to the total return was 0.15%. |
| (i) | 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.
264 :: 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 | | | | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | | Total
Return(b) | | Gross
Expenses(c) | | Net
Expenses(c) | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | Portfolio
Turnover
Rate(b)(d) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Small-Cap Value ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 100.64 | | 0.07 | | | 5.35 | | | 5.42 | | | — | | | (1.38 | ) | | (1.38 | ) | | $ | 104.68 | | | 5.55 | % | | 1.98 | % | | 1.98 | %(e) | | 0.14 | % | | $ | 6,585 | | 272 | % |
| Year Ended July 31, 2022 | | $ | 104.97 | | (0.02 | ) | | (4.11 | ) | | (4.13 | ) | | (0.20 | ) | | — | | | (0.20 | ) | | $ | 100.64 | | | (3.94 | )% | | 1.68 | % | | 1.68 | % | | (0.02 | )% | | $ | 8,441 | | 638 | % |
| Year Ended July 31, 2021 | | $ | 64.53 | | 0.11 | | | 40.33 | | | 40.44 | | | — | | | — | | �� | — | | | $ | 104.97 | | | 62.67 | % | | 1.61 | % | | 1.61 | % | | 0.12 | % | | $ | 14,775 | | 547 | % |
| Year Ended July 31, 2020 | | $ | 78.32 | | (0.16 | ) | | (13.57 | ) | | (13.73 | ) | | (0.06 | ) | | — | | | (0.06 | ) | | $ | 64.53 | | | (17.55 | )% | | 2.02 | % | | 2.02 | %(e) | | (0.22 | )% | | $ | 4,232 | | 624 | % |
| Year Ended July 31, 2019 | | $ | 98.51 | | (0.23 | ) | | (10.96 | ) | | (11.19 | ) | | — | | | (9.00 | ) | | (9.00 | ) | | $ | 78.32 | | | (9.96 | )% | | 1.74 | % | | 1.74 | % | | (0.27 | )% | | $ | 5,380 | | 427 | % |
| Year Ended July 31, 2018 | | $ | 83.05 | | (0.19 | ) | | 15.65 | | | 15.46 | | | — | | | — | | | — | | | $ | 98.51 | | | 18.61 | % | | 1.75 | % | | 1.75 | % | | (0.21 | )% | | $ | 32,670 | | 447 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 80.51 | | (0.32 | ) | | 4.19 | | | 3.87 | | | — | | | (1.38 | ) | | (1.38 | ) | | $ | 83.00 | | | 5.00 | % | | 2.98 | % | | 2.98 | %(e) | | (0.86 | )% | | $ | 880 | | 272 | % |
| Year Ended July 31, 2022 | | $ | 84.68 | | (0.86 | ) | | (3.31 | ) | | (4.17 | ) | | — | | | — | | | — | | | $ | 80.51 | | | (4.90 | )% | | 2.68 | % | | 2.68 | % | | (1.02 | )% | | $ | 790 | | 638 | % |
| Year Ended July 31, 2021 | | $ | 52.57 | | (0.67 | ) | | 32.78 | | | 32.11 | | | — | | | — | | | — | | | $ | 84.68 | | | 61.08 | % | | 2.61 | % | | 2.61 | % | | (0.88 | )% | | $ | 770 | | 547 | % |
| Year Ended July 31, 2020 | | $ | 64.40 | | (0.74 | ) | | (11.09 | ) | | (11.83 | ) | | — | | | — | | | — | | | $ | 52.57 | | | (18.37 | )% | | 3.02 | % | | 3.02 | %(e) | | (1.22 | )% | | $ | 320 | | 624 | % |
| Year Ended July 31, 2019 | | $ | 83.80 | | (0.92 | ) | | (9.48 | ) | | (10.40 | ) | | — | | | (9.00 | ) | | (9.00 | ) | | $ | 64.40 | | | (10.83 | )% | | 2.74 | % | | 2.74 | % | | (1.27 | )% | | $ | 429 | | 427 | % |
| Year Ended July 31, 2018 | | $ | 71.35 | | (0.96 | ) | | 13.41 | | | 12.45 | | | — | | | — | | | — | | | $ | 83.80 | | | 17.45 | % | | 2.75 | % | | 2.75 | % | | (1.21 | )% | | $ | 480 | | 447 | % |
| Technology UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 90.44 | | (0.10 | ) | | (12.87 | ) | | (12.97 | ) | | — | | | — | | | — | | | $ | 77.47 | | | (14.35 | )% | | 1.67 | % | | 1.67 | % | | (0.28 | )% | | $ | 33,581 | | 45 | % |
| Year Ended July 31, 2022 | | $ | 124.76 | | (1.07 | ) | | (24.11 | ) | | (25.18 | ) | | — | | | (9.14 | ) | | (9.14 | ) | | $ | 90.44 | | | (22.70 | )% | | 1.48 | % | | 1.48 | % | | (0.93 | )% | | $ | 44,187 | | 51 | % |
| Year Ended July 31, 2021 | | $ | 75.45 | | (0.90 | ) | | 52.38 | | | 51.48 | | | — | | | (2.17 | ) | | (2.17 | ) | | $ | 124.76 | | | 69.21 | % | | 1.55 | % | | 1.55 | % | | (0.97 | )% | | $ | 95,384 | | 114 | % |
| Year Ended July 31, 2020(f) | | $ | 49.47 | | (0.29 | ) | | 26.27 | | | 25.98 | | | — | | | — | | | — | | | $ | 75.45 | | | 52.51 | % | | 1.65 | % | | 1.65 | % | | (0.51 | )% | | $ | 86,988 | | 177 | % |
| Year Ended July 31, 2019(f) | | $ | 42.49 | | 0.03 | | | 7.03 | | | 7.06 | | | — | | | (0.08 | ) | | (0.08 | ) | | $ | 49.47 | | | 16.70 | % | | 1.58 | % | | 1.58 | % | | 0.06 | % | | $ | 83,112 | | 332 | % |
| Year Ended July 31, 2018(f) | | $ | 32.01 | | (0.07 | ) | | 12.23 | | | 12.16 | | | — | | | (1.68 | ) | | (1.68 | ) | | $ | 42.49 | | | 38.70 | % | | 1.49 | % | | 1.49 | % | | (0.19 | )% | | $ | 96,683 | | 174 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 71.94 | | (0.41 | ) | | (10.22 | ) | | (10.63 | ) | | — | | | — | | | — | | | $ | 61.31 | | | (14.79 | )% | | 2.67 | % | | 2.67 | % | | (1.28 | )% | | $ | 2,787 | | 45 | % |
| Year Ended July 31, 2022 | | $ | 101.80 | | (2.00 | ) | | (18.72 | ) | | (20.72 | ) | | — | | | (9.14 | ) | | (9.14 | ) | | $ | 71.94 | | | (23.48 | )% | | 2.48 | % | | 2.48 | % | | (1.93 | )% | | $ | 3,393 | | 51 | % |
| Year Ended July 31, 2021 | | $ | 62.48 | | (1.70 | ) | | 43.19 | | | 41.49 | | | — | | | (2.17 | ) | | (2.17 | ) | | $ | 101.80 | | | 67.57 | % | | 2.55 | % | | 2.55 | % | | (1.97 | )% | | $ | 6,454 | | 114 | % |
| Year Ended July 31, 2020(f) | | $ | 41.38 | | (0.75 | ) | | 21.85 | | | 21.10 | | | — | | | — | | | — | | | $ | 62.48 | | | 50.97 | % | | 2.65 | % | | 2.65 | % | | (1.51 | )% | | $ | 2,858 | | 177 | % |
| Year Ended July 31, 2019(f) | | $ | 35.92 | | (0.34 | ) | | 5.88 | | | 5.54 | | | — | | | (0.08 | ) | | (0.08 | ) | | $ | 41.38 | | | 15.53 | % | | 2.58 | % | | 2.58 | % | | (0.94 | )% | | $ | 3,082 | | 332 | % |
| Year Ended July 31, 2018(f) | | $ | 27.54 | | (0.40 | ) | | 10.46 | | | 10.06 | | | — | | | (1.68 | ) | | (1.68 | ) | | $ | 35.92 | | | 37.31 | % | | 2.49 | % | | 2.49 | % | | (1.19 | )% | | $ | 5,780 | | 174 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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. |
| (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 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) | As described in Note 9, share amounts have been adjusted for 3:1 share split that occurred on November 18, 2019. |
See accompanying notes to the financial statements.
Financial Highlights :: 265
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 | | | | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | Total
Return(b) | | Gross
Expenses(c) | | Net
Expenses(c) | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | Portfolio
Turnover
Rate(b)(d) | |
| Telecommunications UltraSector ProFund+ | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 20.69 | | | 0.14 | | | (1.51 | ) | | (1.37 | ) | | (0.11 | ) | | (0.11 | ) | | $ | 19.21 | | | (6.62 | )% | | 12.22 | % | | 1.67 | % | | 1.52 | % | | $ | 512 | | | 243 | % |
| Year Ended July 31, 2022 | | $ | 25.43 | | | 0.11 | | | (4.72 | ) | | (4.61 | ) | | (0.13 | ) | | (0.13 | ) | | $ | 20.69 | | | (18.25 | )% | | 4.57 | % | | 1.78 | % | | 0.45 | % | | $ | 800 | | | 229 | % |
| Year Ended July 31, 2021 | | $ | 19.67 | | | 0.10 | | | 5.78 | | | 5.88 | | | (0.12 | ) | | (0.12 | ) | | $ | 25.43 | | | 30.01 | % | | 4.54 | % | | 1.78 | % | | 0.47 | % | | $ | 1,118 | | | 286 | % |
| Year Ended July 31, 2020 | | $ | 21.80 | | | 0.12 | | | (1.88 | ) | | (1.76 | ) | | (0.37 | ) | | (0.37 | ) | | $ | 19.67 | | | (8.22 | )% | | 5.13 | % | | 1.78 | % | | 0.63 | % | | $ | 862 | | | 132 | % |
| Year Ended July 31, 2019 | | $ | 21.33 | | | 0.07 | | | 0.92 | | | 0.99 | | | (0.52 | ) | | (0.52 | ) | | $ | 21.80 | | | 5.18 | % | | 2.16 | % | | 1.80 | % | | 0.36 | % | | $ | 1,468 | | | 1,449 | % |
| Year Ended July 31, 2018 | | $ | 24.17 | | | 0.39 | | | (2.30 | ) | | (1.91 | ) | | (0.93 | ) | | (0.93 | ) | | $ | 21.33 | | | (8.45 | )% | | 2.64 | % | | 1.95 | % | | 1.74 | % | | $ | 1,900 | | | 412 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 19.76 | | | 0.05 | | | (1.45 | ) | | (1.40 | ) | | — | | | — | | | $ | 18.36 | | | (7.08 | )% | | 13.22 | % | | 2.67 | % | | 0.52 | % | | $ | 24 | | | 243 | % |
| Year Ended July 31, 2022 | | $ | 24.41 | | | (0.13 | ) | | (4.52 | ) | | (4.65 | ) | | — | | | — | | | $ | 19.76 | | | (19.05 | )% | | 5.57 | % | | 2.78 | % | | (0.55 | )% | | $ | 21 | | | 229 | % |
| Year Ended July 31, 2021 | | $ | 18.96 | | | (0.11 | ) | | 5.56 | | | 5.45 | | | — | | | — | | | $ | 24.41 | | | 28.74 | % | | 5.54 | % | | 2.78 | % | | (0.53 | )% | | $ | 56 | | | 286 | % |
| Year Ended July 31, 2020 | | $ | 20.99 | | | (0.07 | ) | | (1.86 | ) | | (1.93 | ) | | (0.10 | ) | | (0.10 | ) | | $ | 18.96 | | | (9.22 | )% | | 6.13 | % | | 2.78 | % | | (0.37 | )% | | $ | 44 | | | 132 | % |
| Year Ended July 31, 2019 | | $ | 20.24 | | | (0.13 | ) | | 0.96 | | | 0.83 | | | (0.08 | ) | | (0.08 | ) | | $ | 20.99 | | | 4.17 | % | | 3.16 | % | | 2.80 | % | | (0.64 | )% | | $ | 75 | | | 1,449 | % |
| Year Ended July 31, 2018 | | $ | 22.78 | | | 0.18 | | | (2.26 | ) | | (2.08 | ) | | (0.46 | ) | | (0.46 | ) | | $ | 20.24 | | | (9.41 | )% | | 3.64 | % | | 2.95 | % | | 0.74 | % | | $ | 91 | | | 412 | % |
| UltraBear ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 20.70 | | | 0.18 | | | (0.70 | ) | | (0.52 | ) | | — | | | — | | | $ | 20.18 | | | (2.51 | )% | | 1.88 | % | | 1.78 | % | | 1.65 | % | | $ | 10,924 | | | — | |
| Year Ended July 31, 2022 | | $ | 21.42 | | | (0.29 | ) | | (0.43 | )(e) | | (0.72 | ) | | — | | | — | | | $ | 20.70 | | | (3.36 | )% | | 1.97 | % | | 1.78 | % | | (1.40 | )% | | $ | 11,191 | | | — | |
| Year Ended July 31, 2021(f) | | $ | 43.58 | | | (0.53 | ) | | (21.48 | ) | | (22.01 | ) | | (0.15 | ) | | (0.15 | ) | | $ | 21.42 | | | (50.64 | )% | | 2.08 | % | | 1.78 | % | | (1.77 | )% | | $ | 5,438 | | | — | |
| Year Ended July 31, 2020(f) | | $ | 76.76 | | | (0.52 | ) | | (32.66 | ) | | (33.18 | ) | | — | | | — | | | $ | 43.58 | | | (43.20 | )% | | 2.04 | % | | 1.78 | % | | (0.80 | )% | | $ | 9,880 | | | — | |
| Year Ended July 31, 2019(f) | | $ | 91.23 | | | 0.40 | | | (14.87 | ) | | (14.47 | ) | | — | | | — | | | $ | 76.76 | | | (15.87 | )% | | 1.95 | % | | 1.84 | % | | 0.44 | % | | $ | 8,869 | | | — | |
| Year Ended July 31, 2018(f) | | $ | 125.67 | | | (0.56 | ) | | (33.88 | ) | | (34.44 | ) | | — | | | — | | | $ | 91.23 | | | (27.40 | )% | | 1.89 | % | | 1.87 | % | | (0.54 | )% | | $ | 8,335 | | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 18.33 | | | 0.14 | | | (0.61 | ) | | (0.47 | ) | | — | | | — | | | $ | 17.86 | | | (2.62 | )% | | 2.37 | % | | 2.27 | % | | 1.16 | % | | $ | 45 | | | — | |
| Year Ended July 31, 2022 | | $ | 19.19 | | | (0.48 | ) | | (0.38 | )(e) | | (0.86 | ) | | — | | | — | | | $ | 18.33 | | | (4.43 | )% | | 2.97 | % | | 2.78 | % | | (2.40 | )% | | $ | 10 | | | — | |
| Year Ended July 31, 2021(f) | | $ | 39.25 | | | (0.81 | ) | | (19.25 | ) | | (20.06 | ) | | — | | | — | | | $ | 19.19 | | | (51.07 | )% | | 3.08 | % | | 2.78 | % | | (2.77 | )% | | $ | 14 | | | — | |
| Year Ended July 31, 2020(f) | | $ | 69.86 | | | (1.12 | ) | | (29.49 | ) | | (30.61 | ) | | — | | | — | | | $ | 39.25 | | | (43.81 | )% | | 3.04 | % | | 2.78 | % | | (1.80 | )% | | $ | 72 | | | — | |
| Year Ended July 31, 2019(f) | | $ | 83.88 | | | (0.44 | ) | | (13.58 | ) | | (14.02 | ) | | — | | | — | | | $ | 69.86 | | | (16.74 | )% | | 2.95 | % | | 2.84 | % | | (0.56 | )% | | $ | 265 | | | — | |
| Year Ended July 31, 2018(f) | | $ | 116.67 | | | (1.48 | ) | | (31.31 | ) | | (32.79 | ) | | — | | | — | | | $ | 83.88 | | | (28.11 | )% | | 2.89 | % | | 2.87 | % | | (1.54 | )% | | $ | 3,607 | | | — | |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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. |
| (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) | As described in Note 9, share amounts have been adjusted for 1:4 reverse share split that occurred on December 14, 2020. |
| + | As described in Note 11, the Telecommunications UltraSector ProFund liquidated on February 7, 2023. |
See accompanying notes to the financial statements.
266 :: 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 | | | | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | Total
Return(b) | | Gross
Expenses(c) | | Net
Expenses(c) | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | Portfolio
Turnover
Rate(b)(d) | |
| UltraBull ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 90.03 | | | 0.21 | | | (6.69 | ) | | (6.48 | ) | | — | | | (7.07 | ) | | (7.07 | ) | | $ | 76.48 | | | (6.19 | )% | | 1.57 | % | | 1.57 | % | | 0.55 | % | | $ | 112,369 | | | 65 | % |
| Year Ended July 31, 2022 | | $ | 112.96 | | | (0.33 | ) | | (15.63 | ) | | (15.96 | ) | | — | | | (6.97 | ) | | (6.97 | ) | | $ | 90.03 | | | (14.96 | )% | | 1.46 | % | | 1.46 | % | | (0.31 | )% | | $ | 101,714 | | | 16 | % |
| Year Ended July 31, 2021 | | $ | 72.03 | | | (0.46 | ) | | 51.97 | | | 51.51 | | | (0.41 | ) | | (10.17 | ) | | (10.58 | ) | | $ | 112.96 | | | 77.44 | % | | 1.51 | % | | 1.51 | % | | (0.51 | )% | | $ | 128,079 | | | 31 | % |
| Year Ended July 31, 2020 | | $ | 67.93 | | | 0.06 | | | 4.37 | | | 4.43 | | | (0.33 | ) | | — | | | (0.33 | ) | | $ | 72.03 | | | 6.48 | % | | 1.60 | % | | 1.60 | % | | 0.09 | % | | $ | 99,875 | | | 151 | % |
| Year Ended July 31, 2019 | | $ | 62.85 | | | 0.33 | | | 5.03 | | | 5.36 | | | (0.06 | ) | | (0.22 | ) | | (0.28 | ) | | $ | 67.93 | | | 8.54 | % | | 1.50 | % | | 1.50 | % | | 0.54 | % | | $ | 174,947 | | | 159 | % |
| Year Ended July 31, 2018(e) | | $ | 49.15 | | | 0.18 | | | 13.52 | | | 13.70 | | | — | | | — | | | — | | | $ | 62.85 | | | 27.89 | % | | 1.40 | % | | 1.40 | % | | 0.31 | % | | $ | 185,706 | | | 174 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 69.92 | | | (0.09 | ) | | (5.47 | ) | | (5.56 | ) | | — | | | (7.07 | ) | | (7.07 | ) | | $ | 57.29 | | | (6.67 | )% | | 2.57 | % | | 2.57 | % | | (0.45 | )% | | $ | 1,972 | | | 65 | % |
| Year Ended July 31, 2022 | | $ | 90.15 | | | (1.15 | ) | | (12.11 | ) | | (13.26 | ) | | — | | | (6.97 | ) | | (6.97 | ) | | $ | 69.92 | | | (15.80 | )% | | 2.46 | % | | 2.46 | % | | (1.31 | )% | | $ | 2,036 | | | 16 | % |
| Year Ended July 31, 2021 | | $ | 59.40 | | | (1.20 | ) | | 42.12 | | | 40.92 | | | — | | | (10.17 | ) | | (10.17 | ) | | $ | 90.15 | | | 75.68 | % | | 2.51 | % | | 2.51 | % | | (1.51 | )% | | $ | 2,785 | | | 31 | % |
| Year Ended July 31, 2020 | | $ | 56.36 | | | (0.49 | ) | | 3.53 | | | 3.04 | | | — | | | — | | | — | | | $ | 59.40 | | | 5.39 | % | | 2.60 | % | | 2.60 | % | | (0.91 | )% | | $ | 1,808 | | | 151 | % |
| Year Ended July 31, 2019 | | $ | 52.65 | | | (0.17 | ) | | 4.10 | | | 3.93 | | | — | | | (0.22 | ) | | (0.22 | ) | | $ | 56.36 | | | 7.46 | % | | 2.50 | % | | 2.50 | % | | (0.46 | )% | | $ | 1,389 | | | 159 | % |
| Year Ended July 31, 2018(e) | | $ | 41.58 | | | (0.30 | ) | | 11.37 | | | 11.07 | | | — | | | — | | | — | | | $ | 52.65 | | | 26.62 | % | | 2.40 | % | | 2.40 | % | | (0.69 | )% | | $ | 1,838 | | | 174 | % |
| UltraChina ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited)(f) | | $ | 34.33 | | | (0.20 | ) | | 6.35 | | | 6.15 | | | — | | | — | | | — | | | $ | 40.48 | | | 18.08 | % | | 1.88 | % | | 1.86 | % | | (1.07 | )% | | $ | 31,376 | | | 110 | % |
| Year Ended July 31, 2022(f) | | $ | 118.04 | | | (0.20 | ) | | (83.51 | ) | | (83.71 | ) | | — | | | — | | | — | | | $ | 34.33 | | | (70.93 | )% | | 1.74 | % | | 1.74 | % | | (0.37 | )% | | $ | 15,352 | | | 243 | % |
| Year Ended July 31, 2021(f) | | $ | 173.10 | | | (2.30 | ) | | (57.76 | ) | | (55.06 | ) | | — | | | — | | | — | | | $ | 118.04 | | | (31.83 | )% | | 1.67 | % | | 1.67 | % | | (1.05 | )% | | $ | 17,626 | | | 255 | % |
| Year Ended July 31, 2020(f) | | $ | 114.20 | | | (0.50 | ) | | 59.50 | | | 59.00 | | | (0.10 | ) | | — | | | (0.10 | ) | | $ | 173.10 | | | 51.69 | % | | 1.79 | % | | 1.79 | % | | (0.42 | )% | | $ | 14,973 | | | 314 | % |
| Year Ended July 31, 2019(f) | | $ | 177.89 | | | (0.10 | ) | | (63.59 | ) | | (63.69 | ) | | — | | | — | | | — | | | $ | 114.20 | | | (35.81 | )% | | 1.70 | % | | 1.70 | % | | (0.05 | )% | | $ | 21,723 | | | 360 | % |
| Year Ended July 31, 2018(f) | | $ | 164.15 | | | (0.10 | ) | | 15.24 | | | 15.14 | | | (1.40 | ) | | — | | | (1.40 | ) | | $ | 177.89 | | | 9.24 | % | | 1.51 | % | | 1.51 | % | | (0.07 | )% | | $ | 27,453 | | | 312 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited)(f) | | $ | 29.87 | | | (0.30 | ) | | 5.47 | | | 5.17 | | | — | | | — | | | — | | | $ | 35.04 | | | 17.06 | % | | 2.88 | % | | 2.86 | % | | (2.07 | )% | | $ | 5,102 | | | 110 | % |
| Year Ended July 31, 2022(f) | | $ | 103.68 | | | (0.60 | ) | | (73.21 | ) | | (73.81 | ) | | — | | | — | | | — | | | $ | 29.87 | | | (71.17 | )% | | 2.74 | % | | 2.74 | % | | (1.37 | )% | | $ | 788 | | | 243 | % |
| Year Ended July 31, 2021(f) | | $ | 153.59 | | | (4.20 | ) | | (45.71 | ) | | (49.91 | ) | | — | | | — | | | — | | | $ | 103.68 | | | (32.49 | )% | | 2.67 | % | | 2.67 | % | | (2.05 | )% | | $ | 423 | | | 255 | % |
| Year Ended July 31, 2020(f) | | $ | 102.33 | | | (1.70 | ) | | 52.96 | | | 51.26 | | | — | | | — | | | — | | | $ | 153.59 | | | 50.15 | % | | 2.79 | % | | 2.79 | % | | (1.42 | )% | | $ | 2,654 | | | 314 | % |
| Year Ended July 31, 2019(f) | | $ | 161.06 | | | (1.20 | ) | | (57.53 | ) | | (58.73 | ) | | — | | | — | | | — | | | $ | 102.33 | | | (36.50 | )% | | 2.70 | % | | 2.70 | % | | (1.05 | )% | | $ | 405 | | | 360 | % |
| Year Ended July 31, 2018(f) | | $ | 149.69 | | | (1.90 | ) | | 14.07 | | | 12.17 | | | (0.80 | ) | | — | | | (0.80 | ) | | $ | 161.06 | | | 8.10 | % | | 2.51 | % | | 2.51 | % | | (1.07 | )% | | $ | 1,006 | | | 312 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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. |
| (e) | As described in Note 9, share amounts have been adjusted for 3:1 share split that occurred on January 22, 2018. |
| (f) | As described in Note 11, share amounts have been adjusted for 1:10 share split that occurred on March 6, 2023. |
See accompanying notes to the financial statements.
Financial Highlights :: 267
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 | | | | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | Total
Return(b) | | Gross
Expenses(c) | | Net
Expenses(c) | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | Portfolio
Turnover
Rate(b)(d) | |
| UltraDow 30 ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 54.64 | | | 0.19 | | | 2.50 | | | 2.69 | | | — | | | — | | | — | | | $ | 57.33 | | | 4.90 | % | | 1.65 | % | | 1.65 | % | | 0.73 | % | | $ | 28,989 | | | 26 | % |
| Year Ended July 31, 2022 | | $ | 66.90 | | | (0.08 | ) | | (7.91 | ) | | (7.99 | ) | | — | | | (4.27 | ) | | (4.27 | ) | | $ | 54.64 | | | (13.07 | )% | | 1.54 | % | | 1.54 | % | | (0.14 | )% | | $ | 32,075 | | | 10 | % |
| Year Ended July 31, 2021 | | $ | 39.32 | | | (0.24 | ) | | 28.83 | | | 28.59 | | | — | | | (1.01 | ) | | (1.01 | ) | | $ | 66.90 | | | 73.58 | % | | 1.59 | % | | 1.59 | % | | (0.45 | )% | | $ | 39,210 | | | 16 | % |
| Year Ended July 31, 2020(e) | | $ | 47.25 | | | 0.11 | | | (7.02 | ) | | (6.91 | ) | | (0.30 | ) | | (0.72 | ) | | (1.02 | ) | | $ | 39.32 | | | (15.15 | )% | | 1.72 | % | | 1.72 | % | | 0.26 | % | | $ | 26,124 | | | 6 | % |
| Year Ended July 31, 2019(e) | | $ | 43.77 | | | 0.30 | | | 3.52 | | | 3.82 | | | (0.34 | ) | | — | | | (0.34 | ) | | $ | 47.25 | | | 8.97 | % | | 1.62 | % | | 1.62 | % | | 0.68 | % | | $ | 38,924 | | | 1 | % |
| Year Ended July 31, 2018(e) | | $ | 33.52 | | | 0.12 | | | 10.90 | | | 11.02 | | | (0.01 | ) | | (0.76 | ) | | (0.77 | ) | | $ | 43.77 | | | 32.94 | % | | 1.51 | % | | 1.51 | % | | 0.29 | % | | $ | 37,484 | | | 59 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 45.93 | | | (0.02 | ) | | 2.04 | | | 2.02 | | | — | | | — | | | — | | | $ | 47.95 | | | 4.38 | % | | 2.62 | % | | 2.62 | % | | (0.24 | )% | | $ | 913 | | | 26 | % |
| Year Ended July 31, 2022 | | $ | 57.42 | | | (0.62 | ) | | (6.60 | ) | | (7.22 | ) | | — | | | (4.27 | ) | | (4.27 | ) | | $ | 45.93 | | | (13.94 | )% | | 2.54 | % | | 2.54 | % | | (1.14 | )% | | $ | 738 | | | 10 | % |
| Year Ended July 31, 2021 | | $ | 34.20 | | | (0.71 | ) | | 24.94 | | | 24.23 | | | — | | | (1.01 | ) | | (1.01 | ) | | $ | 57.42 | | | 71.85 | % | | 2.59 | % | | 2.59 | % | | (1.45 | )% | | $ | 1,203 | | | 16 | % |
| Year Ended July 31, 2020(e) | | $ | 41.33 | | | (0.27 | ) | | (6.14 | ) | | (6.41 | ) | | — | | | (0.72 | ) | | (0.72 | ) | | $ | 34.20 | | | (15.95 | )% | | 2.72 | % | | 2.72 | % | | (0.74 | )% | | $ | 648 | | | 6 | % |
| Year Ended July 31, 2019(e) | | $ | 38.31 | | | (0.09 | ) | | 3.11 | | | 3.02 | | | — | | | — | | | — | | | $ | 41.33 | | | 7.87 | % | | 2.62 | % | | 2.62 | % | | (0.32 | )% | | $ | 732 | | | 1 | % |
| Year Ended July 31, 2018(e) | | $ | 29.70 | | | (0.24 | ) | | 9.61 | | | 9.37 | | | — | | | (0.76 | ) | | (0.76 | ) | | $ | 38.31 | | | 31.62 | % | | 2.51 | % | | 2.51 | % | | (0.71 | )% | | $ | 1,584 | | | 59 | % |
| UltraEmerging Markets ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 41.78 | | | 0.46 | | | 6.12 | | | 6.58 | | | (0.39 | ) | | — | | | (0.39 | ) | | $ | 47.97 | | | 16.02 | % | | 2.06 | % | | 1.85 | % | | 2.28 | % | | $ | 10,869 | | | 142 | % |
| Year Ended July 31, 2022 | | $ | 79.62 | | | 0.57 | | | (38.41 | ) | | (37.84 | ) | | — | | | — | | | — | | | $ | 41.78 | | | (47.53 | )%(f) | | 1.99 | % | | 1.92 | % | | 1.00 | % | | $ | 5,666 | | | 265 | % |
| Year Ended July 31, 2021 | | $ | 62.20 | | | (0.56 | ) | | 17.98 | | | 17.42 | | | — | | | — | | | — | | | $ | 79.62 | | | 28.02 | % | | 1.78 | % | | 1.77 | % | | (0.64 | )% | | $ | 8,976 | | | 211 | % |
| Year Ended July 31, 2020 | | $ | 51.58 | | | — | (g) | | 10.62 | | | 10.62 | | | — | | | — | | | — | | | $ | 62.20 | | | 20.59 | %(h) | | 1.94 | % | | 1.85 | % | | — | %(i) | | $ | 13,176 | | | 240 | % |
| Year Ended July 31, 2019 | | $ | 63.07 | | | 0.05 | | | (11.25 | ) | | (11.20 | ) | | (0.29 | ) | | — | | | (0.29 | ) | | $ | 51.58 | | | (17.70 | )% | | 1.84 | % | | 1.84 | % | | 0.10 | % | | $ | 12,846 | | | 137 | % |
| Year Ended July 31, 2018 | | $ | 61.63 | | | 0.25 | | | 1.30 | | | 1.55 | | | (0.11 | ) | | — | | | (0.11 | ) | | $ | 63.07 | | | 2.50 | % | | 1.52 | % | | 1.52 | % | | 0.37 | % | | $ | 22,713 | | | 125 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 37.48 | | | 0.28 | | | 5.45 | | | 5.73 | | | — | | | — | | | — | | | $ | 43.21 | | | 15.35 | % | | 3.06 | % | | 2.85 | % | | 1.28 | % | | $ | 123 | | | 142 | % |
| Year Ended July 31, 2022 | | $ | 72.13 | | | 0.02 | | | (34.67 | ) | | (34.65 | ) | | — | | | — | | | — | | | $ | 37.48 | | | (48.05 | )%(f) | | 2.99 | % | | 2.92 | % | | — | %(i) | | $ | 95 | | | 265 | % |
| Year Ended July 31, 2021 | | $ | 56.90 | | | (1.36 | ) | | 16.59 | | | 15.23 | | | — | | | — | | | — | | | $ | 72.13 | | | 26.78 | % | | 2.78 | % | | 2.77 | % | | (1.64 | )% | | $ | 345 | | | 211 | % |
| Year Ended July 31, 2020 | | $ | 47.65 | | | (0.47 | ) | | 9.72 | | | 9.25 | | | — | | | — | | | — | | | $ | 56.90 | | | 19.41 | %(h) | | 2.94 | % | | 2.85 | % | | (1.00 | )% | | $ | 353 | | | 240 | % |
| Year Ended July 31, 2019 | | $ | 58.50 | | | (0.44 | ) | | (10.41 | ) | | (10.85 | ) | | — | | | — | | | — | | | $ | 47.65 | | | (18.55 | )% | | 2.84 | % | | 2.84 | % | | (0.90 | )% | | $ | 213 | | | 137 | % |
| Year Ended July 31, 2018 | | $ | 57.67 | | | (0.38 | ) | | 1.21 | | | 0.83 | | | — | | | — | | | — | | | $ | 58.50 | | | 1.44 | % | | 2.52 | % | | 2.52 | % | | (0.63 | )% | | $ | 623 | | | 125 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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. |
| (e) | As described in Note 9, share amounts have been adjusted for 3:1 share split that occurred on November 18, 2019. |
| (f) | During the year ended July 31, 2022, the Fund received monies related to certain nonrecurring litigation settlements. The corresponding impact to the total return was 0.06%. |
| (g) | Amount is less than $0.005. |
| (h) | During the year ended July 31, 2020, the Fund received monies related to certain nonrecurring litigation settlements. The corresponding impact to the total return was 1.01%. |
| (i) | Amount is less than 0.005%. |
See accompanying notes to the financial statements.
268 :: 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 | | | | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | Total
Return(b) | | Gross
Expenses(c) | | | Net
Expenses(c) | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | Portfolio
Turnover
Rate(b)(d) | |
| UltraInternational ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 14.71 | | | 0.12 | | | 1.75 | | | 1.87 | | | — | | | — | | | $ | 16.58 | | | 12.71 | % | | 2.54 | % | | 1.78 | % | | 1.69 | % | | $ | 6,738 | | | — | |
| Year Ended July 31, 2022 | | $ | 21.26 | | | (0.29 | ) | | (6.26 | ) | | (6.55 | ) | | — | | | — | | | $ | 14.71 | | | (30.81 | )% | | 2.82 | % | | 1.78 | % | | (1.55 | )% | | $ | 2,322 | | | — | |
| Year Ended July 31, 2021 | | $ | 13.16 | | | (0.32 | ) | | 8.42 | | | 8.10 | | | — | | | — | | | $ | 21.26 | | | 61.55 | % | | 2.31 | % | | 1.78 | % | | (1.76 | )% | | $ | 3,101 | | | — | |
| Year Ended July 31, 2020 | | $ | 15.58 | | | (0.09 | ) | | (2.33 | ) | | (2.42 | ) | | — | | | — | | | $ | 13.16 | | | (15.53 | )% | | 2.61 | % | | 1.87 | % | | (0.60 | )% | | $ | 4,078 | | | — | |
| Year Ended July 31, 2019 | | $ | 17.99 | | | 0.03 | | | (2.44 | ) | | (2.41 | ) | | — | | | — | | | $ | 15.58 | | | (13.40 | )% | | 2.30 | % | | 2.04 | %(e) | | 0.16 | % | | $ | 2,989 | | | — | |
| Year Ended July 31, 2018 | | $ | 17.10 | | | (0.07 | ) | | 0.96 | | | 0.89 | | | — | | | — | | | $ | 17.99 | | | 5.20 | % | | 1.62 | % | | 1.62 | % | | (0.40 | )% | | $ | 9,114 | | | — | |
| Service Class |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 12.76 | | | 0.06 | | | 1.51 | | | 1.57 | | | — | | | — | | | $ | 14.33 | | | 12.29 | % | | 3.54 | % | | 2.78 | % | | 0.69 | % | | $ | 73 | | | — | |
| Year Ended July 31, 2022 | | $ | 18.65 | | | (0.46 | ) | | (5.43 | ) | | (5.89 | ) | | — | | | — | | | $ | 12.76 | | | (31.53 | )% | | 3.82 | % | | 2.78 | % | | (2.55 | )% | | $ | 25 | | | — | |
| Year Ended July 31, 2021 | | $ | 11.64 | | | (0.48 | ) | | 7.49 | | | 7.01 | | | — | | | — | | | $ | 18.65 | | | 60.22 | % | | 3.31 | % | | 2.78 | % | | (2.76 | )% | | $ | 51 | | | — | |
| Year Ended July 31, 2020 | | $ | 13.92 | | | (0.22 | ) | | (2.06 | ) | | (2.28 | ) | | — | | | — | | | $ | 11.64 | | | (16.38 | )% | | 3.61 | % | | 2.87 | % | | (1.60 | )% | | $ | 70 | | | — | |
| Year Ended July 31, 2019 | | $ | 16.23 | | | (0.11 | ) | | (2.20 | ) | | (2.31 | ) | | — | | | — | | | $ | 13.92 | | | (14.23 | )% | | 3.29 | % | | 3.03 | %(e) | | (0.83 | )% | | $ | 47 | | | — | |
| Year Ended July 31, 2018 | | $ | 15.59 | | | (0.24 | ) | | 0.88 | | | 0.64 | | | — | | | — | | | $ | 16.23 | | | 4.11 | % | | 2.62 | % | | 2.62 | % | | (1.40 | )% | | $ | 184 | | | — | |
| UltraJapan ProFund |
| Investor Class |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 28.05 | | | 0.16 | | | (0.88 | ) | | (0.72 | ) | | — | | | — | | | $ | 27.33 | | | (2.57 | )% | | 1.93 | % | | 1.78 | % | | 1.15 | % | | $ | 12,444 | | | — | |
| Year Ended July 31, 2022 | | $ | 31.75 | | | (0.45 | ) | | 1.09 | | | 0.64 | | | (4.34 | ) | | (4.34 | ) | | $ | 28.05 | | | (0.05 | )% | | 1.81 | % | | 1.78 | % | | (1.56 | )% | | $ | 12,750 | | | — | |
| Year Ended July 31, 2021 | | $ | 20.81 | | | (0.56 | ) | | 11.50 | | | 10.94 | | | — | | | — | | | $ | 31.75 | | | 52.57 | % | | 1.80 | % | | 1.78 | % | | (1.77 | )% | | $ | 14,600 | | | — | |
| Year Ended July 31, 2020 | | $ | 21.87 | | | (0.17 | ) | | (0.89 | ) | | (1.06 | ) | | — | | | — | | | $ | 20.81 | | | (4.85 | )% | | 1.94 | % | | 1.86 | % | | (0.77 | )% | | $ | 10,556 | | | — | |
| Year Ended July 31, 2019 | | $ | 24.93 | | | 0.04 | | | (2.61 | ) | | (2.57 | ) | | (0.49 | ) | | (0.49 | ) | | $ | 21.87 | | | (10.75 | )% | | 1.83 | % | | 1.83 | % | | 0.16 | % | | $ | 13,423 | | | — | |
| Year Ended July 31, 2018 | | $ | 19.76 | | | (0.11 | ) | | 5.28 | | | 5.17 | | | — | | | — | | | $ | 24.93 | | | 26.16 | % | | 1.66 | % | | 1.66 | % | | (0.45 | )% | | $ | 20,993 | | | — | |
| Service Class |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 22.60 | | | 0.05 | | | (0.73 | ) | | (0.68 | ) | | — | | | — | | | $ | 21.92 | | | (3.01 | )% | | 2.93 | % | | 2.78 | % | | 0.15 | % | | $ | 107 | | | — | |
| Year Ended July 31, 2022 | | $ | 26.53 | | | (0.69 | ) | | 1.10 | | | 0.41 | | | (4.34 | ) | | (4.34 | ) | | $ | 22.60 | | | (1.04 | )% | | 2.81 | % | | 2.78 | % | | (2.56 | )% | | $ | 115 | | | — | |
| Year Ended July 31, 2021 | | $ | 17.56 | | | (0.82 | ) | | 9.79 | | | 8.97 | | | — | | | — | | | $ | 26.53 | | | 51.08 | % | | 2.80 | % | | 2.78 | % | | (2.77 | )% | | $ | 143 | | | — | |
| Year Ended July 31, 2020 | | $ | 18.64 | | | (0.36 | ) | | (0.72 | ) | | (1.08 | ) | | — | | | — | | | $ | 17.56 | | | (5.79 | )% | | 2.94 | % | | 2.86 | % | | (1.77 | )% | | $ | 109 | | | — | |
| Year Ended July 31, 2019 | | $ | 21.52 | | | (0.16 | ) | | (2.23 | ) | | (2.39 | ) | | (0.49 | ) | | (0.49 | ) | | $ | 18.64 | | | (11.63 | )% | | 2.83 | % | | 2.83 | % | | (0.84 | )% | | $ | 258 | | | — | |
| Year Ended July 31, 2018 | | $ | 17.23 | | | (0.31 | ) | | 4.60 | | | 4.29 | | | — | | | — | | | $ | 21.52 | | | 24.90 | % | | 2.66 | % | | 2.66 | % | | (1.45 | )% | | $ | 237 | | | — | |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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). |
| (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. |
See accompanying notes to the financial statements.
Financial Highlights :: 269
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 | | | | | | | | | | Ratios to
Average Net Assets | | | | Supplemental
Data | |
| | | | 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 | | | | Net
Asset
Value,
End of
Period | | | Total
Return(b) | | | Gross
Expenses(c) | | | Net
Expenses(c) | | | Net
Investment
Income
(Loss)(c) | | | | Net
Assets,
End of
Period
(000's) | | | Portfolio
Turnover
Rate(b)(d) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| UltraLatin America ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 14.68 | | 0.82 | | 2.62 | | | 3.44 | | | (1.51 | ) | | — | | | (1.51 | ) | | $ | 16.61 | | | 25.44 | % | | 1.93 | % | | 1.93 | % | | 10.44 | % | | $ | 11,349 | | | 60 | % |
| Year Ended July 31, 2022 | | $ | 19.08 | | 1.13 | | (4.70 | ) | | (3.57 | ) | | (0.83 | ) | | — | | | (0.83 | ) | | $ | 14.68 | | | (18.44 | )%(e) | | 1.73 | % | | 1.73 | % | | 6.86 | % | | $ | 9,583 | | | 141 | % |
| Year Ended July 31, 2021 | | $ | 10.61 | | 0.18 | | 8.38 | | | 8.56 | | | (0.09 | ) | | — | | | (0.09 | ) | | $ | 19.08 | | | 80.78 | % | | 1.72 | % | | 1.72 | % | | 1.22 | % | | $ | 15,939 | | | 163 | % |
| Year Ended July 31, 2020 | | $ | 31.86 | | 0.28 | | (21.10 | ) | | (20.82 | ) | | (0.43 | ) | | — | | | (0.43 | ) | | $ | 10.61 | | | (66.27 | )%(f) | | 1.71 | % | | 1.71 | % | | 1.46 | % | | $ | 15,724 | | | 237 | % |
| Year Ended July 31, 2019 | | $ | 33.55 | | 0.44 | | (1.66 | ) | | (1.22 | ) | | (0.47 | ) | | — | | | (0.47 | ) | | $ | 31.86 | | | (3.51 | )% | | 1.69 | % | | 1.69 | % | | 1.34 | % | | $ | 31,560 | | | 132 | % |
| Year Ended July 31, 2018 | | $ | 35.83 | | 0.28 | | (2.47 | ) | | (2.19 | ) | | (0.09 | ) | | — | | | (0.09 | ) | | $ | 33.55 | | | (6.15 | )% | | 1.53 | % | | 1.53 | % | | 0.72 | % | | $ | 37,611 | | | 315 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 14.20 | | 0.75 | | 2.57 | | | 3.32 | | | (1.31 | ) | | — | | | (1.31 | ) | | $ | 16.21 | | | 25.17 | % | | 2.78 | % | | 2.78 | % | | 9.59 | % | | $ | 131 | | | 60 | % |
| Year Ended July 31, 2022 | | $ | 18.34 | | 0.97 | | (4.54 | ) | | (3.57 | ) | | (0.57 | ) | | — | | | (0.57 | ) | | $ | 14.20 | | | (19.32 | )%(e) | | 2.73 | % | | 2.73 | % | | 5.86 | % | | $ | 108 | | | 141 | % |
| Year Ended July 31, 2021 | | $ | 10.26 | | 0.04 | | 8.06 | | | 8.10 | | | (0.02 | ) | | — | | | (0.02 | ) | | $ | 18.34 | | | 78.96 | % | | 2.72 | % | | 2.72 | % | | 0.22 | % | | $ | 148 | | | 163 | % |
| Year Ended July 31, 2020 | | $ | 30.71 | | 0.12 | | (20.57 | ) | | (20.45 | ) | | — | | | — | | | — | | | $ | 10.26 | | | (66.59 | )%(f) | | 2.70 | % | | 2.70 | % | | 0.47 | % | | $ | 98 | | | 237 | % |
| Year Ended July 31, 2019 | | $ | 32.16 | | 0.13 | | (1.58 | ) | | (1.45 | ) | | — | | | — | | | — | | | $ | 30.71 | | | (4.51 | )% | | 2.69 | % | | 2.69 | % | | 0.34 | % | | $ | 81 | | | 132 | % |
| Year Ended July 31, 2018 | | $ | 34.61 | | (0.10 | ) | (2.35 | ) | | (2.45 | ) | | — | | | — | | | — | | | $ | 32.16 | | | (7.08 | )% | | 2.53 | % | | 2.53 | % | | (0.28 | )% | | $ | 436 | | | 315 | % |
| UltraMid-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 52.47 | | 0.12 | | 3.50 | | | 3.62 | | | — | | | — | | | — | | | $ | 56.09 | | | 6.88 | % | | 1.62 | % | | 1.62 | % | | 0.48 | % | | $ | 47,137 | | | 10 | % |
| Year Ended July 31, 2022 | | $ | 66.78 | | (0.23 | ) | (10.83 | ) | | (11.06 | ) | | — | | | (3.25 | ) | | (3.25 | ) | | $ | 52.47 | | | (17.57 | )% | | 1.51 | % | | 1.51 | % | | (0.38 | )% | | $ | 43,761 | | | 28 | % |
| Year Ended July 31, 2021 | | $ | 32.83 | | (0.33 | ) | 34.28 | | | 33.95 | | | — | | | — | | | — | | | $ | 66.78 | | | 103.44 | % | | 1.53 | % | | 1.53 | % | | (0.62 | )% | | $ | 61,650 | | | 40 | % |
| Year Ended July 31, 2020 | | $ | 44.23 | | (0.05 | ) | (10.37 | ) | | (10.42 | ) | | (0.14 | ) | | (0.84 | ) | | (0.98 | ) | | $ | 32.83 | | | (24.24 | )% | | 1.66 | % | | 1.66 | % | | (0.12 | )% | | $ | 30,383 | | | 63 | % |
| Year Ended July 31, 2019 | | $ | 46.93 | | 0.07 | | (2.72 | ) | | (2.65 | ) | | (0.01 | ) | | (0.04 | ) | | (0.05 | ) | | $ | 44.23 | | | (5.62 | )% | | 1.53 | % | | 1.53 | % | | 0.16 | % | | $ | 80,404 | | | 52 | % |
| Year Ended July 31, 2018(g) | | $ | 40.56 | | (0.01 | ) | 9.46 | | | 9.45 | | | — | | | (3.08 | ) | | (3.08 | ) | | $ | 46.93 | | | 23.80 | % | | 1.43 | % | | 1.43 | % | | (0.01 | )% | | $ | 91,844 | | | 28 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 41.17 | | (0.07 | ) | 2.69 | | | 2.62 | | | — | | | — | | | — | | | $ | 43.79 | | | 6.36 | % | | 2.62 | % | | 2.62 | % | | (0.52 | )% | | $ | 906 | | | 10 | % |
| Year Ended July 31, 2022 | | $ | 53.58 | | (0.72 | ) | (8.44 | ) | | (9.16 | ) | | — | | | (3.25 | ) | | (3.25 | ) | | $ | 41.17 | | | (18.40 | )% | | 2.51 | % | | 2.51 | % | | (1.38 | )% | | $ | 859 | | | 28 | % |
| Year Ended July 31, 2021 | | $ | 26.59 | | (0.75 | ) | 27.74 | | | 26.99 | | | — | | | — | | | — | | | $ | 53.58 | | | 101.47 | % | | 2.53 | % | | 2.53 | % | | (1.61 | )% | | $ | 1,231 | | | 40 | % |
| Year Ended July 31, 2020 | | $ | 36.24 | | (0.34 | ) | (8.47 | ) | | (8.81 | ) | | — | | | (0.84 | ) | | (0.84 | ) | | $ | 26.59 | | | (24.99 | )% | | 2.66 | % | | 2.66 | % | | (1.12 | )% | | $ | 636 | | | 63 | % |
| Year Ended July 31, 2019 | | $ | 38.86 | | (0.28 | ) | (2.30 | ) | | (2.58 | ) | | — | | | (0.04 | ) | | (0.04 | ) | | $ | 36.24 | | | (6.61 | )% | | 2.53 | % | | 2.53 | % | | (0.84 | )% | | $ | 847 | | | 52 | % |
| Year Ended July 31, 2018(g) | | $ | 34.37 | | (0.37 | ) | 7.94 | | | 7.57 | | | — | | | (3.08 | ) | | (3.08 | ) | | $ | 38.86 | | | 22.58 | % | | 2.43 | % | | 2.43 | % | | (1.01 | )% | | $ | 2,154 | | | 28 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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. |
| (e) | During the year ended July 31, 2022, the Fund received monies related to certain nonrecurring litigation settlements. The corresponding impact to the total return was 0.22%. |
| (f) | During the year ended July 31, 2020, the Fund received monies related to certain nonrecurring litigation settlements. The corresponding impact to the total return was 0.68%. |
| (g) | 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.
270 :: 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 | | | | | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | Total
Return(b) | | | | Gross
Expenses(c) | | | | Net
Expenses(c) | | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | Portfolio
Turnover
Rate(b)(d) | |
| UltraNasdaq-100 ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 58.68 | | | | 0.01 | | | (11.02 | ) | | (11.01 | ) | | — | | | (2.12 | ) | | (2.12 | ) | | $ | 45.55 | | (18.13 | )% | | | 1.60 | % | | | 1.60 | % | | 0.04 | % | | $ | 491,681 | | 34 | % |
| Year Ended July 31, 2022 | | $ | 99.86 | | | | (0.71 | ) | | (26.13 | ) | | (26.84 | ) | | — | | | (14.34 | ) | | (14.34 | ) | | $ | 58.68 | | (31.91 | )% | | | 1.47 | % | | | 1.47 | % | | (0.87 | )% | | $ | 569,545 | | 51 | % |
| Year Ended July 31, 2021(e) | | $ | 62.28 | | | | (0.82 | ) | | 45.88 | | | 45.06 | | | — | | | (7.48 | ) | | (7.48 | ) | | $ | 99.86 | | 76.50 | % | | | 1.51 | % | | | 1.51 | % | | (1.05 | )% | | $ | 1,096,713 | | 29 | % |
| Year Ended July 31, 2020(e) | | $ | 39.32 | | | | (0.26 | ) | | 25.83 | | | 25.57 | | | — | | | (2.61 | ) | | (2.61 | ) | | $ | 62.28 | | 67.62 | % | | | 1.59 | % | | | 1.59 | % | | (0.58 | )% | | $ | 627,805 | | 20 | % |
| Year Ended July 31, 2019(e) | | $ | 37.54 | | | | 0.01 | | | 3.55 | | | 3.56 | | | — | | | (1.78 | ) | | (1.78 | ) | | $ | 39.32 | | 9.42 | % | | | 1.50 | % | | | 1.50 | % | | 0.01 | % | | $ | 504,777 | | 9 | % |
| Year Ended July 31, 2018(e)(f) | | $ | 26.05 | | | | (0.09 | ) | | 11.58 | | | 11.49 | | | — | | | — | | | — | | | $ | 37.54 | | 44.15 | % | | | 1.41 | % | | | 1.41 | % | | (0.29 | )% | | $ | 497,460 | | 3 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 42.12 | | | | (0.16 | ) | | (8.03 | ) | | (8.19 | ) | | — | | | (2.12 | ) | | (2.12 | ) | | $ | 31.81 | | (18.55 | )% | | | 2.60 | % | | | 2.60 | % | | (0.96 | )% | | $ | 10,549 | | 34 | % |
| Year Ended July 31, 2022 | | $ | 76.18 | | | | (1.31 | ) | | (18.41 | ) | | (19.72 | ) | | — | | | (14.34 | ) | | (14.34 | ) | | $ | 42.12 | | (32.60 | )% | | | 2.47 | % | | | 2.47 | % | | (1.87 | )% | | $ | 14,120 | | 51 | % |
| Year Ended July 31, 2021(e) | | $ | 49.32 | | | | (1.43 | ) | | 35.77 | | | 34.34 | | | — | | | (7.48 | ) | | (7.48 | ) | | $ | 76.18 | | 74.78 | % | | | 2.51 | % | | | 2.51 | % | | (2.05 | )% | | $ | 23,558 | | 29 | % |
| Year Ended July 31, 2020(e) | | $ | 31.89 | | | | (0.61 | ) | | 20.65 | | | 20.04 | | | — | | | (2.61 | ) | | (2.61 | ) | | $ | 49.32 | | 65.95 | % | | | 2.59 | % | | | 2.59 | % | | (1.58 | )% | | $ | 15,438 | | 20 | % |
| Year Ended July 31, 2019(e) | | $ | 31.05 | | | | (0.28 | ) | | 2.90 | | | 2.62 | | | — | | | (1.78 | ) | | (1.78 | ) | | $ | 31.89 | | 8.33 | % | | | 2.50 | % | | | 2.50 | % | | (0.99 | )% | | $ | 12,014 | | 9 | % |
| Year Ended July 31, 2018(e)(f) | | $ | 21.76 | | | | (0.36 | ) | | 9.65 | | | 9.29 | | | — | | | — | | | — | | | $ | 31.05 | | 42.70 | % | | | 2.41 | % | | | 2.41 | % | | (1.29 | )% | | $ | 14,914 | | 3 | % |
| UltraShort China ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 12.64 | | | | 0.12 | | | (6.63 | ) | | (6.51 | ) | | — | | | — | | | — | | | $ | 6.13 | | (51.50 | )% | | | 3.63 | % | | | 1.78 | % | | 2.27 | % | | $ | 2,376 | | — | |
| Year Ended July 31, 2022 | | $ | 17.80 | | | | (0.29 | ) | | (4.87 | ) | | (5.16 | ) | | — | | | — | | | — | | | $ | 12.64 | | (28.99 | )% | | | 2.57 | % | | | 1.78 | % | | (1.53 | )% | | $ | 1,470 | | — | |
| Year Ended July 31, 2021 | | $ | 20.11 | | | | (0.22 | ) | | (2.09 | ) | | (2.31 | ) | | — | | | — | | | — | | | $ | 17.80 | | (11.49 | )% | | | 4.54 | % | | | 1.78 | % | | (1.77 | )% | | $ | 2,341 | | — | |
| Year Ended July 31, 2020 | | $ | 47.15 | | | | (0.14 | ) | | (26.71 | ) | | (26.85 | ) | | (0.19 | ) | | — | | | (0.19 | ) | | $ | 20.11 | | (57.12 | )% | | | 2.83 | % | | | 1.78 | % | | (0.37 | )% | | $ | 625 | | — | |
| Year Ended July 31, 2019 | | $ | 40.80 | | | | 0.24 | | | 6.11 | | | 6.35 | | | — | | | — | | | — | | | $ | 47.15 | | 15.56 | % | | | 2.45 | % | | | 1.78 | % | | 0.50 | % | | $ | 3,534 | | — | |
| Year Ended July 31, 2018(g) | | $ | 54.15 | | | | (0.14 | ) | | (13.21 | ) | | (13.35 | ) | | — | | | — | | | — | | | $ | 40.80 | | (24.67 | )% | | | 2.34 | % | | | 1.78 | % | | (0.34 | )% | | $ | 2,038 | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 11.02 | | | | 0.08 | | | (5.76 | ) | | (5.68 | ) | | — | | | — | | | — | | | $ | 5.34 | | (51.45 | )% | | | 4.28 | % | | | 2.43 | % | | 1.62 | % | | $ | 3 | | — | |
| Year Ended July 31, 2022 | | $ | 15.63 | | | | (0.46 | ) | | (4.15 | ) | | (4.61 | ) | | — | | | — | | | — | | | $ | 11.02 | | (29.58 | )% | | | 3.57 | % | | | 2.78 | % | | (2.53 | )% | | $ | 10 | | — | |
| Year Ended July 31, 2021 | | $ | 17.88 | | | | (0.34 | ) | | (1.91 | ) | | (2.25 | ) | | — | | | — | | | — | | | $ | 15.63 | | (12.52 | )% | | | 5.54 | % | | | 2.78 | % | | (2.77 | )% | | $ | 6 | | — | |
| Year Ended July 31, 2020 | | $ | 42.12 | | | | (0.48 | ) | | (23.76 | ) | | (24.24 | ) | | — | | | — | | | — | | | $ | 17.88 | | (57.53 | )% | | | 3.83 | % | | | 2.78 | % | | (1.37 | )% | | $ | 10 | | — | |
| Year Ended July 31, 2019 | | $ | 36.81 | | | | (0.19 | ) | | 5.50 | | | 5.31 | | | — | | | — | | | — | | | $ | 42.12 | | 14.43 | % | | | 3.45 | % | | | 2.78 | % | | (0.50 | )% | | $ | 44 | | — | |
| Year Ended July 31, 2018(g) | | $ | 49.35 | | | | (0.52 | ) | | (12.02 | ) | | (12.54 | ) | | — | | | — | | | — | | | $ | 36.81 | | (25.43 | )% | | | 3.34 | % | | | 2.78 | % | | (1.34 | )% | | $ | 70 | | — | |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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. |
| (e) | As described in Note 9, share amounts have been adjusted for 2:1 share split that occurred on December 14, 2020. |
| (f) | As described in Note 9, share amounts have been adjusted for 3:1 share split on January 22, 2018. |
| (g) | As described in Note 9, share amounts have been adjusted for 1:8 reverse share split that occurred on January 22, 2018. |
See accompanying notes to the financial statements.
Financial Highlights :: 271
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 | | | | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | Total
Return(b) | | | Gross
Expenses(c) | | | Net
Expenses(c) | | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | Portfolio
Turnover
Rate(b)(d) | |
| UltraShort Dow 30 ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 20.36 | | 0.16 | | | (2.32 | ) | | (2.16 | ) | | — | | | — | | | $ | 18.20 | | (10.61 | )% | | 2.53 | % | | 1.78 | % | | 1.61 | % | | $ | 2,843 | | — | |
| Year Ended July 31, 2022 | | $ | 20.44 | | (0.30 | ) | | 0.22 | (e) | | (0.08 | ) | | — | | | — | | | $ | 20.36 | | (0.39 | )% | | 2.65 | % | | 1.78 | % | | (1.48 | )% | | $ | 2,491 | | — | |
| Year Ended July 31, 2021(f) | | $ | 40.04 | | (0.49 | ) | | (19.11 | ) | | (19.60 | ) | | — | | | — | | | $ | 20.44 | | (48.95 | )% | | 2.47 | % | | 1.78 | % | | (1.77 | )% | | $ | 2,916 | | — | |
| Year Ended July 31, 2020(f) | | $ | 60.15 | | (0.56 | ) | | (19.35 | ) | | (19.91 | ) | | (0.20 | ) | | (0.20 | ) | | $ | 40.04 | | (33.21 | )% | | 2.17 | % | | 1.78 | % | | (1.01 | )% | | $ | 5,293 | | — | |
| Year Ended July 31, 2019(f) | | $ | 71.69 | | 0.32 | | | (11.86 | ) | | (11.54 | ) | | — | | | — | | | $ | 60.15 | | (16.07 | )% | | 2.25 | % | | 1.78 | % | | 0.47 | % | | $ | 4,491 | | — | |
| Year Ended July 31, 2018(f) | | $ | 104.12 | | (0.36 | ) | | (32.07 | ) | | (32.43 | ) | | — | | | — | | | $ | 71.69 | | (31.16 | )% | | 2.18 | % | | 1.78 | % | | (0.44 | )% | | $ | 3,874 | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 17.62 | | 0.08 | | | (2.00 | ) | | (1.92 | ) | | — | | | — | | | $ | 15.70 | | (10.95 | )% | | 3.43 | % | | 2.68 | % | | 0.71 | % | | $ | 23 | | — | |
| Year Ended July 31, 2022 | | $ | 17.86 | | (0.47 | ) | | 0.23 | (e) | | (0.24 | ) | | — | | | — | | | $ | 17.62 | | (1.34 | )% | | 3.65 | % | | 2.78 | % | | (2.48 | )% | | $ | 156 | | — | |
| Year Ended July 31, 2021(f) | | $ | 35.34 | | (0.74 | ) | | (16.74 | ) | | (17.48 | ) | | — | | | — | | | $ | 17.86 | | (49.43 | )% | | 3.47 | % | | 2.78 | % | | (2.77 | )% | | $ | 111 | | — | |
| Year Ended July 31, 2020(f) | | $ | 53.45 | | (1.00 | ) | | (17.11 | ) | | (18.11 | ) | | — | | | — | | | $ | 35.34 | | (33.91 | )% | | 3.17 | % | | 2.78 | % | | (2.01 | )% | | $ | 316 | | — | |
| Year Ended July 31, 2019(f) | | $ | 64.34 | | (0.28 | ) | | (10.61 | ) | | (10.89 | ) | | — | | | — | | | $ | 53.45 | | (16.92 | )% | | 3.25 | % | | 2.78 | % | | (0.53 | )% | | $ | 179 | | — | |
| Year Ended July 31, 2018(f) | | $ | 94.36 | | (1.12 | ) | | (28.90 | ) | | (30.02 | ) | | — | | | — | | | $ | 64.34 | | (31.84 | )% | | 3.18 | % | | 2.78 | % | | (1.44 | )% | | $ | 268 | | — | |
| UltraShort Emerging Markets ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 28.93 | | 0.25 | | | (7.98 | ) | | (7.73 | ) | | — | | | — | | | $ | 21.20 | | (26.72 | )% | | 3.20 | % | | 1.78 | % | | 1.60 | % | | $ | 543 | | — | |
| Year Ended July 31, 2022 | | $ | 23.19 | | (0.39 | ) | | 6.13 | | | 5.74 | | | — | | | — | | | $ | 28.93 | | 24.75 | % | | 3.73 | % | | 1.78 | % | | (1.43 | )% | | $ | 1,247 | | — | |
| Year Ended July 31, 2021(f) | | $ | 39.50 | | (0.45 | ) | | (15.86 | ) | | (16.31 | ) | | — | | | — | | | $ | 23.19 | | (41.26 | )% | | 5.39 | % | | 1.78 | % | | (1.77 | )% | | $ | 562 | | — | |
| Year Ended July 31, 2020(f) | | $ | 75.75 | | (0.40 | ) | | (35.57 | ) | | (35.97 | ) | | (0.28 | ) | | (0.28 | ) | | $ | 39.50 | | (47.64 | )% | | 2.90 | % | | 1.78 | % | | (0.60 | )% | | $ | 974 | | — | |
| Year Ended July 31, 2019(f) | | $ | 73.65 | | 0.36 | | | 1.74 | | | 2.10 | | | — | | | — | | | $ | 75.75 | | 2.88 | % | | 2.70 | % | | 1.78 | % | | 0.43 | % | | $ | 2,865 | | — | |
| Year Ended July 31, 2018(f) | | $ | 86.96 | | (0.28 | ) | | (13.03 | ) | | (13.31 | ) | | — | | | — | | | $ | 73.65 | | (15.32 | )% | | 2.35 | % | | 1.78 | % | | (0.40 | )% | | $ | 2,958 | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 25.83 | | 0.12 | | | (7.11 | ) | | (6.99 | ) | | — | | | — | | | $ | 18.84 | | (27.09 | )% | | 4.20 | % | | 2.78 | % | | 0.60 | % | | $ | 108 | | — | |
| Year Ended July 31, 2022 | | $ | 20.93 | | (0.63 | ) | | 5.53 | | | 4.90 | | | — | | | — | | | $ | 25.83 | | 23.52 | % | | 4.73 | % | | 2.78 | % | | (2.43 | )% | | $ | 31 | | — | |
| Year Ended July 31, 2021(f) | | $ | 35.98 | | (0.69 | ) | | (14.36 | ) | | (15.05 | ) | | — | | | — | | | $ | 20.93 | | (41.89 | )% | | 6.39 | % | | 2.78 | % | | (2.77 | )% | | $ | 31 | | — | |
| Year Ended July 31, 2020(f) | | $ | 69.37 | | (1.00 | ) | | (32.39 | ) | | (33.39 | ) | | — | | | — | | | $ | 35.98 | | (48.10 | )% | | 3.90 | % | | 2.78 | % | | (1.60 | )% | | $ | 62 | | — | |
| Year Ended July 31, 2019(f) | | $ | 68.11 | | (0.40 | ) | | 1.66 | | | 1.26 | | | — | | | — | | | $ | 69.37 | | 1.82 | % | | 3.70 | % | | 2.78 | % | | (0.57 | )% | | $ | 98 | | — | |
| Year Ended July 31, 2018(f) | | $ | 81.20 | | (1.00 | ) | | (12.09 | ) | | (13.09 | ) | | — | | | — | | | $ | 68.11 | | (16.11 | )% | | 3.35 | % | | 2.78 | % | | (1.40 | )% | | $ | 108 | | — | |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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). |
| (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) | As described in Note 9, share amounts have been adjusted for 1:4 reverse share split that occurred on December 14, 2020. |
See accompanying notes to the financial statements.
272 :: 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 | | | | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | Total
Return(b) | | | Gross
Expenses(c) | | | Net
Expenses(c) | | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | Portfolio
Turnover
Rate(b)(d) | |
| UltraShort International ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 26.52 | | 0.23 | | | (5.30 | ) | | (5.07 | ) | | — | | | — | | | $ | 21.45 | | (19.08 | )% | | 2.13 | % | | 1.78 | % | | 1.62 | % | | $ | 2,009 | | — | |
| Year Ended July 31, 2022 | | $ | 22.38 | | (0.34 | ) | | 4.48 | (e) | | 4.14 | | | — | | | — | | | $ | 26.52 | | 18.50 | % | | 2.60 | % | | 1.78 | % | | (1.41 | )% | | $ | 2,640 | | — | |
| Year Ended July 31, 2021(f) | | $ | 42.06 | | (0.51 | ) | | (19.17 | ) | | (19.68 | ) | | — | | | — | | | $ | 22.38 | | (46.82 | )% | | 3.13 | % | | 1.78 | % | | (1.77 | )% | | $ | 1,631 | | — | |
| Year Ended July 31, 2020(f) | | $ | 54.21 | | (0.48 | ) | | (11.27 | ) | | (11.75 | ) | | (0.40 | ) | | (0.40 | ) | | $ | 42.06 | | (21.67 | )% | | 2.83 | % | | 1.78 | % | | (0.95 | )% | | $ | 2,445 | | — | |
| Year Ended July 31, 2019(f) | | $ | 51.63 | | 0.28 | | | 2.30 | | | 2.58 | | | — | | | — | | | $ | 54.21 | | 4.96 | % | | 2.43 | % | | 1.78 | % | | 0.50 | % | | $ | 2,156 | | — | |
| Year Ended July 31, 2018(f) | | $ | 59.47 | | (0.28 | ) | | (7.56 | ) | | (7.84 | ) | | — | | | — | | | $ | 51.63 | | (13.18 | )% | | 2.53 | % | | 1.84 | % | | (0.51 | )% | | $ | 2,120 | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 23.51 | | 0.11 | | | (4.70 | ) | | (4.59 | ) | | — | | | — | | | $ | 18.92 | | (19.51 | )% | | 3.13 | % | | 2.78 | % | | 0.62 | % | | $ | 5 | | — | |
| Year Ended July 31, 2022 | | $ | 20.04 | | (0.57 | ) | | 4.04 | (e) | | 3.47 | | | — | | | — | | | $ | 23.51 | | 17.30 | % | | 3.60 | % | | 2.78 | % | | (2.41 | )% | | $ | 6 | | — | |
| Year Ended July 31, 2021(f) | | $ | 38.07 | | (0.78 | ) | | (17.25 | ) | | (18.03 | ) | | — | | | — | | | $ | 20.04 | | (47.32 | )% | | 4.14 | % | | 2.79 | % | | (2.78 | )% | | $ | 5 | | — | |
| Year Ended July 31, 2020(f) | | $ | 49.12 | | (0.96 | ) | | (10.09 | ) | | (11.05 | ) | | — | | | — | | | $ | 38.07 | | (22.48 | )% | | 3.83 | % | | 2.78 | % | | (1.95 | )% | | $ | 10 | | — | |
| Year Ended July 31, 2019(f) | | $ | 47.26 | | (0.24 | ) | | 2.10 | | | 1.86 | | | — | | | — | | | $ | 49.12 | | 3.89 | % | | 3.42 | % | | 2.77 | % | | (0.49 | )% | | $ | 14 | | — | |
| Year Ended July 31, 2018(f) | | $ | 54.95 | | (0.76 | ) | | (6.93 | ) | | (7.69 | ) | | — | | | — | | | $ | 47.26 | | (13.97 | )% | | 3.52 | % | | 2.83 | % | | (1.50 | )% | | $ | 29 | | — | |
| UltraShort Japan ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 10.18 | | 0.06 | | | 0.01 | (e) | | 0.07 | | | — | | | — | | | $ | 10.25 | | 0.69 | % | | 12.25 | % | | 1.78 | % | | 1.17 | % | | $ | 306 | | — | |
| Year Ended July 31, 2022 | | $ | 12.53 | | (0.18 | ) | | (2.17 | ) | | (2.35 | ) | | — | | | — | | | $ | 10.18 | | (18.75 | )% | | 10.76 | % | | 1.78 | % | | (1.54 | )% | | $ | 199 | | — | |
| Year Ended July 31, 2021 | | $ | 22.23 | | (0.26 | ) | | (9.44 | ) | | (9.70 | ) | | — | | | — | | | $ | 12.53 | | (43.63 | )% | | 8.91 | % | | 1.78 | % | | (1.77 | )% | | $ | 233 | | — | |
| Year Ended July 31, 2020 | | $ | 32.34 | | (0.18 | ) | | (9.93 | ) | | (10.11 | ) | | — | | | — | | | $ | 22.23 | | (31.26 | )% | | 4.87 | % | | 1.78 | % | | (0.64 | )% | | $ | 842 | | — | |
| Year Ended July 31, 2019 | | $ | 32.76 | | 0.06 | | | (0.48 | ) | | (0.42 | ) | | — | | | — | | | $ | 32.34 | | (1.28 | )% | | 5.49 | % | | 1.78 | % | | 0.18 | % | | $ | 1,010 | | — | |
| Year Ended July 31, 2018(g) | | $ | 47.18 | | (0.23 | ) | | (14.19 | ) | | (14.42 | ) | | — | | | — | | | $ | 32.76 | | (30.59 | )% | | 3.66 | % | | 1.78 | % | | (0.60 | )% | | $ | 709 | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 8.96 | | 0.01 | | | (0.01 | ) | | — | | | — | | | — | | | $ | 8.96 | | 0.11 | % | | 13.25 | % | | 2.78 | % | | 0.17 | % | | $ | 1 | | — | |
| Year Ended July 31, 2022 | | $ | 11.16 | | (0.28 | ) | | (1.92 | ) | | (2.20 | ) | | — | | | — | | | $ | 8.96 | | (19.71 | )% | | 11.76 | % | | 2.78 | % | | (2.54 | )% | | $ | 1 | | — | |
| Year Ended July 31, 2021 | | $ | 19.96 | | (0.37 | ) | | (8.43 | ) | | (8.80 | ) | | — | | | — | | | $ | 11.16 | | (44.23 | )% | | 9.91 | % | | 2.78 | % | | (2.77 | )% | | $ | 29 | | — | |
| Year Ended July 31, 2020 | | $ | 29.45 | | (0.44 | ) | | (9.05 | ) | | (9.49 | ) | | — | | | — | | | $ | 19.96 | | (31.87 | )% | | 5.87 | % | | 2.78 | % | | (1.64 | )% | | $ | 2 | | — | |
| Year Ended July 31, 2019 | | $ | 30.00 | | (0.23 | ) | | (0.32 | ) | | (0.55 | ) | | — | | | — | | | $ | 29.45 | | (2.26 | )% | | 6.49 | % | | 2.78 | % | | (0.82 | )% | | $ | 4 | | — | |
| Year Ended July 31, 2018(g) | | $ | 43.73 | | (0.61 | ) | | (13.12 | ) | | (13.73 | ) | | — | | | — | | | $ | 30.00 | | (31.31 | )% | | 4.66 | % | | 2.78 | % | | (1.60 | )% | | $ | 5 | | — | |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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). |
| (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) | As described in Note 9, share amounts have been adjusted for 1:4 reverse share split that occurred on December 14, 2020. |
| (g) | As described in Note 9, share amounts have been adjusted for 1:5 reverse share split that occurred on January 22, 2018. |
See accompanying notes to the financial statements.
Financial Highlights :: 273
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 | | | | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | Total
Return(b) | | | Gross
Expenses(c) | | | Net
Expenses(c) | | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | Portfolio
Turnover
Rate(b)(d) | |
| UltraShort Latin America ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 9.18 | | 0.06 | | | (3.10 | ) | | (3.04 | ) | | — | | | — | | | $ | 6.14 | | (33.12 | )% | | 3.80 | % | | 1.78 | % | | 1.56 | % | | $ | 793 | | — | |
| Year Ended July 31, 2022 | | $ | 10.27 | | (0.15 | ) | | (0.94 | ) | | (1.09 | ) | | — | | | — | | | $ | 9.18 | | (10.61 | )% | | 4.14 | % | | 1.78 | % | | (1.48 | )% | | $ | 1,796 | | — | |
| Year Ended July 31, 2021 | | $ | 27.67 | | (0.32 | ) | | (17.08 | ) | | (17.40 | ) | | — | | | — | | | $ | 10.27 | | (62.88 | )% | | 3.28 | % | | 1.78 | % | | (1.77 | )% | | $ | 804 | | — | |
| Year Ended July 31, 2020 | | $ | 27.71 | | (0.30 | ) | | 0.35 | | | 0.05 | | | (0.09 | ) | | (0.09 | ) | | $ | 27.67 | | 0.22 | % | | 2.31 | % | | 1.78 | % | | (0.87 | )% | | $ | 3,138 | | — | |
| Year Ended July 31, 2019 | | $ | 35.01 | | 0.16 | | | (7.46 | ) | | (7.30 | ) | | — | | | — | | | $ | 27.71 | | (20.85 | )% | | 2.42 | % | | 1.78 | % | | 0.53 | % | | $ | 4,681 | | — | |
| Year Ended July 31, 2018(e) | | $ | 40.03 | | (0.21 | ) | | (4.81 | ) | | (5.02 | ) | | — | | | — | | | $ | 35.01 | | (12.58 | )% | | 2.05 | % | | 1.78 | % | | (0.60 | )% | | $ | 3,711 | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 7.97 | | 0.03 | | | (2.69 | ) | | (2.66 | ) | | — | | | — | | | $ | 5.31 | | (33.38 | )% | | 4.80 | % | | 2.78 | % | | 0.56 | % | | $ | 5 | | — | |
| Year Ended July 31, 2022 | | $ | 9.00 | | (0.25 | ) | | (0.78 | ) | | (1.03 | ) | | — | | | — | | | $ | 7.97 | | (11.44 | )% | | 5.14 | % | | 2.78 | % | | (2.48 | )% | | $ | 8 | | — | |
| Year Ended July 31, 2021 | | $ | 24.48 | | (0.47 | ) | | (15.01 | ) | | (15.48 | ) | | — | | | — | | | $ | 9.00 | | (63.24 | )% | | 4.28 | % | | 2.78 | % | | (2.77 | )% | | $ | 9 | | — | |
| Year Ended July 31, 2020 | | $ | 24.69 | | (0.69 | ) | | 0.48 | | | (0.21 | ) | | — | | | — | | | $ | 24.48 | | (0.85 | )% | | 3.31 | % | | 2.78 | % | | (1.87 | )% | | $ | 35 | | — | |
| Year Ended July 31, 2019 | | $ | 31.51 | | (0.12 | ) | | (6.70 | ) | | (6.82 | ) | | — | | | — | | | $ | 24.69 | | (21.67 | )% | | 3.42 | % | | 2.78 | % | | (0.47 | )% | | $ | 61 | | — | |
| Year Ended July 31, 2018(e) | | $ | 36.45 | | (0.55 | ) | | (4.39 | ) | | (4.94 | ) | | — | | | — | | | $ | 31.51 | | (13.53 | )% | | 3.05 | % | | 2.78 | % | | (1.60 | )% | | $ | 74 | | — | |
| UltraShort Mid-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited)(f) | | $ | 51.24 | | 0.40 | | | (8.64 | ) | | (8.24 | ) | | — | | | — | | | $ | 43.00 | | (16.02 | )% | | 3.33 | % | | 1.78 | % | | 1.68 | % | | $ | 1,174 | | — | |
| Year Ended July 31, 2022(f) | | $ | 53.58 | | (0.80 | ) | | (1.54 | ) | | (2.34 | ) | | — | | | — | | | $ | 51.24 | | (4.48 | )% | | 3.56 | % | | 1.78 | % | | (1.50 | )% | | $ | 1,424 | | — | |
| Year Ended July 31, 2021(f) | | $ | 131.61 | | (1.40 | ) | | (76.63 | ) | | (78.03 | ) | | — | | | — | | | $ | 53.58 | | (59.27 | )% | | 3.22 | % | | 1.78 | % | | (1.77 | )% | | $ | 1,443 | | — | |
| Year Ended July 31, 2020(f) | | $ | 198.15 | | (2.00 | ) | | (63.74 | ) | | (65.74 | ) | | (0.80 | ) | | (0.80 | ) | | $ | 131.61 | | (33.28 | )% | | 2.94 | % | | 1.78 | % | | (1.04 | )% | | $ | 2,728 | | — | |
| Year Ended July 31, 2019(f) | | $ | 207.31 | | 1.10 | | | (10.26 | ) | | (9.16 | ) | | — | | | — | | | $ | 198.15 | | (4.39 | )% | | 3.04 | % | | 1.78 | % | | 0.50 | % | | $ | 1,475 | | — | |
| Year Ended July 31, 2018(f) | | $ | 277.73 | | (1.10 | ) | | (69.32 | ) | | (70.42 | ) | | — | | | — | | | $ | 207.31 | | (25.35 | )% | | 3.12 | % | | 1.78 | % | | (0.45 | )% | | $ | 1,067 | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited)(f) | | $ | 44.77 | | 0.20 | | | (7.63 | ) | | (7.43 | ) | | — | | | — | | | $ | 37.34 | | (16.74 | )% | | 4.33 | % | | 2.78 | % | | 0.68 | % | | $ | 44 | | — | |
| Year Ended July 31, 2022(f) | | $ | 47.28 | | (1.30 | ) | | (1.21 | ) | | (2.51 | ) | | — | | | — | | | $ | 44.77 | | (5.29 | )% | | 4.56 | % | | 2.78 | % | | (2.50 | )% | | $ | 53 | | — | |
| Year Ended July 31, 2021(f) | | $ | 117.12 | | (2.10 | ) | | (67.74 | ) | | (69.84 | ) | | — | | | — | | | $ | 47.28 | | (59.61 | )% | | 4.22 | % | | 2.78 | % | | (2.77 | )% | | $ | 20 | | — | |
| Year Ended July 31, 2020(f) | | $ | 177.19 | | (3.70 | ) | | (56.37 | ) | | (60.07 | ) | | — | | | — | | | $ | 117.12 | | (33.92 | )% | | 3.94 | % | | 2.78 | % | | (2.04 | )% | | $ | 21 | | — | |
| Year Ended July 31, 2019(f) | | $ | 187.35 | | (0.80 | ) | | (9.36 | ) | | (10.16 | ) | | — | | | — | | | $ | 177.19 | | (5.39 | )% | | 4.04 | % | | 2.78 | % | | (0.50 | )% | | $ | 16 | | — | |
| Year Ended July 31, 2018(f) | | $ | 253.03 | | (3.20 | ) | | (62.48 | ) | | (65.68 | ) | | — | | | — | | | $ | 187.35 | | (26.00 | )% | | 4.12 | % | | 2.78 | % | | (1.45 | )% | | $ | 11 | | — |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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). |
| (e) | As described in Note 9, share amounts have been adjusted for 1:5 reverse share split that occurred on January 22, 2018. |
| (f) | As described in Note 11, share amounts have been adjusted for 1:10 reverse share split that occurred on March 6, 2023. |
See accompanying notes to the financial statements.
274 :: 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 | | | | | | | | | Ratios to
Average Net Assets | | Supplemental
Data | |
| | | 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 | | Net
Asset
Value,
End of
Period | | Total
Return(b) | | | Gross
Expenses(c) | | | Net
Expenses(c) | | | Net
Investment
Income
(Loss)(c) | | Net
Assets,
End of
Period
(000's) | | Portfolio
Turnover
Rate(b)(d) | |
| UltraShort Nasdaq-100 ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited)(e) | | $ | 78.98 | | 0.90 | | | 2.24 | (f) | | 3.14 | | | — | | | — | | | $ | 82.12 | | 3.92 | % | | 1.66 | % | | 1.66 | % | | 1.92 | % | | $ | 20,059 | | — | |
| Year Ended July 31, 2022(e) | | $ | 78.50 | | (0.90 | ) | | 1.38 | (f) | | 0.48 | | | — | | | — | | | $ | 78.98 | | 0.64 | % | | 1.68 | % | | 1.68 | % | | (1.09 | )% | | $ | 100,824 | | — | |
| Year Ended July 31, 2021(e)(g) | | $ | 179.00 | | (2.05 | ) | | (98.35 | ) | | (100.40 | ) | | (0.10 | ) | | (0.10 | ) | | $ | 78.50 | | (55.87 | )% | | 1.78 | % | | 1.78 | % | | (1.76 | )% | | $ | 9,281 | | — | |
| Year Ended July 31, 2020(e)(g) | | $ | 507.75 | | (2.80 | ) | | (324.35 | ) | | (327.15 | ) | | (1.60 | ) | | (1.60 | ) | | $ | 179.00 | | (64.81 | )% | | 1.82 | % | | 1.82 | % | | (0.84 | )% | | $ | 9,454 | | — | |
| Year Ended July 31, 2019(e)(g) | | $ | 654.46 | | 3.20 | | | (149.91 | ) | | (146.71 | ) | | — | | | — | | | $ | 507.75 | | (22.43 | )% | | 1.77 | % | | 1.77 | % | | 0.51 | % | | $ | 14,948 | | — | |
| Year Ended July 31, 2018(e)(g) | | $ | 1067.67 | | (3.60 | ) | | (409.61 | ) | | (413.21 | ) | | — | | | — | | | $ | 654.46 | | (38.70 | )% | | 1.76 | % | | 1.76 | % | | (0.44 | )% | | $ | 12,427 | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited)(e) | | $ | 73.94 | | 0.45 | | | 2.09 | (f) | | 2.54 | | | — | | | — | | | $ | 76.48 | | 3.45 | % | | 2.66 | % | | 2.66 | % | | 0.92 | % | | $ | 120 | | — | |
| Year Ended July 31, 2022(e) | | $ | 74.25 | | (1.60 | ) | | 1.29 | (f) | | (0.31 | ) | | — | | | — | | | $ | 73.94 | | (0.40 | )% | | 2.68 | % | | 2.68 | % | | (2.09 | )% | | $ | 168 | | — | |
| Year Ended July 31, 2021(e)(g) | | $ | 171.01 | | (3.20 | ) | | (93.56 | ) | | (96.76 | ) | | — | | | — | | | $ | 74.25 | | (56.43 | )% | | 2.78 | % | | 2.78 | % | | (2.76 | )% | | $ | 184 | | — | |
| Year Ended July 31, 2020(e)(g) | | $ | 488.16 | | (6.40 | ) | | (310.75 | ) | | (317.15 | ) | | — | | | — | | | $ | 171.01 | | (65.08 | )% | | 2.82 | % | | 2.82 | % | | (1.84 | )% | | $ | 174 | | — | |
| Year Ended July 31, 2019(e)(g) | | $ | 634.63 | | (2.40 | ) | | (144.07 | ) | | (146.47 | ) | | — | | | — | | | $ | 488.16 | | (23.13 | )% | | 2.77 | % | | 2.77 | % | | (0.49 | )% | | $ | 516 | | — | |
| Year Ended July 31, 2018(e)(g) | | $ | 1044.72 | | (11.20 | ) | | (398.89 | ) | | (410.09 | ) | | — | | | — | | | $ | 634.63 | | (39.24 | )% | | 2.76 | % | | 2.76 | % | | (1.44 | )% | | $ | 91 | | — | |
| UltraShort Small-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 8.06 | | 0.07 | | | (1.05 | ) | | (0.98 | ) | | — | | | — | | | $ | 7.08 | | (12.16 | )% | | 2.23 | % | | 1.78 | % | | 1.72 | % | | $ | 8,497 | | — | |
| Year Ended July 31, 2022 | | $ | 7.27 | | (0.11 | ) | | 0.90 | | | 0.79 | | | — | | | — | | | $ | 8.06 | | 10.87 | % | | 2.32 | % | | 1.78 | % | | (1.46 | )% | | $ | 4,194 | | — | |
| Year Ended July 31, 2021 | | $ | 20.12 | | (0.18 | ) | | (12.67 | ) | | (12.85 | ) | | — | | | — | | | $ | 7.27 | | (63.87 | )% | | 2.10 | % | | 1.78 | % | | (1.77 | )% | | $ | 8,081 | | — | |
| Year Ended July 31, 2020 | | $ | 30.78 | | (0.30 | ) | | (10.28 | ) | | (10.58 | ) | | (0.08 | ) | | (0.08 | ) | | $ | 20.12 | | (34.44 | )% | | 2.16 | % | | 1.78 | % | | (1.04 | )% | | $ | 7,746 | | — | |
| Year Ended July 31, 2019 | | $ | 29.84 | | 0.16 | | | 0.78 | | | 0.94 | | | — | | | — | | | $ | 30.78 | | 3.22 | % | | 3.14 | % | | 1.78 | % | | 0.50 | % | | $ | 4,541 | | — | |
| Year Ended July 31, 2018(h) | | $ | 43.84 | | (0.10 | ) | | (13.90 | ) | | (14.00 | ) | | — | | | — | | | $ | 29.84 | | (31.98 | )% | | 2.03 | % | | 1.76 | % | | (0.29 | )% | | $ | 4,058 | | — | |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 7.36 | | 0.03 | | | (0.96 | ) | | (0.93 | ) | | — | | | — | | | $ | 6.43 | | (12.64 | )% | | 3.23 | % | | 2.78 | % | | 0.72 | % | | $ | 135 | | — | |
| Year Ended July 31, 2022 | | $ | 6.71 | | (0.18 | ) | | 0.83 | | | 0.65 | | | — | | | — | | | $ | 7.36 | | 9.69 | % | | 3.32 | % | | 2.78 | % | | (2.46 | )% | | $ | 159 | | — | |
| Year Ended July 31, 2021 | | $ | 18.74 | | (0.28 | ) | | (11.75 | ) | | (12.03 | ) | | — | | | — | | | $ | 6.71 | | (64.19 | )% | | 3.10 | % | | 2.78 | % | | (2.77 | )% | | $ | 508 | | — | |
| Year Ended July 31, 2020 | | $ | 28.86 | | (0.57 | ) | | (9.55 | ) | | (10.12 | ) | | — | | | — | | | $ | 18.74 | | (35.07 | )% | | 3.16 | % | | 2.78 | % | | (2.04 | )% | | $ | 174 | | — | |
| Year Ended July 31, 2019 | | $ | 28.27 | | (0.16 | ) | | 0.75 | | | 0.59 | | | — | | | — | | | $ | 28.86 | | 2.16 | % | | 4.14 | % | | 2.78 | % | | (0.50 | )% | | $ | 158 | | — | |
| Year Ended July 31, 2018(h) | | $ | 41.92 | | (0.45 | ) | | (13.20 | ) | | (13.65 | ) | | — | | | — | | | $ | 28.27 | | (32.61 | )% | | 3.03 | % | | 2.76 | % | | (1.29 | )% | | $ | 111 | | — | |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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). |
| (e) | As described in Note 11, share amounts have been adjusted for 1:5 reverse share split that occurred on March 13, 2023. |
| (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 purchases 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 December 14, 2020. |
| (h) | 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.
Financial Highlights :: 275
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 | | | | | | | Ratios to
Average Net Assets | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | Total
Return(b) | | | Gross
Expenses(c) | | | Net
Expenses(c) | | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | Portfolio
Turnover
Rate(b)(d) | |
| UltraSmall-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 60.08 | | | 0.10 | | | — | (e)(f) | | 0.10 | | | — | | | — | | | — | | | $ | 60.18 | | 0.15 | % | | 1.74 | % | | 1.74 | % | | 0.37 | % | | | $ | 59,309 | | 59 | % |
| Year Ended July 31, 2022 | | $ | 89.55 | | | (0.55 | ) | | (28.92 | ) | | (29.47 | ) | | — | | | — | | | — | | | $ | 60.08 | | (32.91 | )% | | 1.60 | % | | 1.60 | % | | (0.72 | )% | | | $ | 52,577 | | 46 | % |
| Year Ended July 31, 2021 | | $ | 41.81 | | | (0.81 | ) | | 48.55 | | | 47.74 | | | — | | | — | | | — | | | $ | 89.55 | | 114.21 | % | | 1.62 | % | | 1.62 | % | | (1.04 | )% | | | $ | 100,147 | | 27 | % |
| Year Ended July 31, 2020 | | $ | 57.95 | | | (0.25 | ) | | (15.89 | ) | | (16.14 | ) | | — | | | — | | | — | | | $ | 41.81 | | (27.85 | )% | | 1.80 | % | | 1.80 | % | | (0.52 | )% | | | $ | 33,767 | | 143 | % |
| Year Ended July 31, 2019 | | $ | 68.79 | | | 0.13 | | | (10.91 | ) | | (10.78 | ) | | (0.05 | ) | | (0.01 | ) | | (0.06 | ) | | $ | 57.95 | | (15.64 | )% | | 1.60 | % | | 1.60 | % | | 0.23 | % | | | $ | 62,102 | | 77 | % |
| Year Ended July 31, 2018 | | $ | 52.24 | | | (0.16 | ) | | 17.14 | | | 16.98 | | | — | | | (0.43 | ) | | (0.43 | ) | | $ | 68.79 | | 32.65 | % | | 1.49 | % | | 1.49 | % | | (0.26 | )% | | | $ | 68,965 | | 29 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 48.18 | | | (0.12 | ) | | (0.03 | )(f) | | (0.15 | ) | | — | | | — | | | — | | | $ | 48.03 | | (0.33 | )% | | 2.74 | % | | 2.74 | % | | (0.63 | )% | | | $ | 539 | | 59 | % |
| Year Ended July 31, 2022 | | $ | 72.53 | | | (1.19 | ) | | (23.16 | ) | | (24.35 | ) | | — | | | — | | | — | | | $ | 48.18 | | (33.56 | )% | | 2.60 | % | | 2.60 | % | | (1.72 | )% | | | $ | 235 | | 46 | % |
| Year Ended July 31, 2021 | | $ | 34.20 | | | (1.46 | ) | | 39.79 | | | 38.33 | | | — | | | — | | | — | | | $ | 72.53 | | 112.08 | % | | 2.62 | % | | 2.62 | % | | (2.04 | )% | | | $ | 994 | | 27 | % |
| Year Ended July 31, 2020 | | $ | 47.88 | | | (0.64 | ) | | (13.04 | ) | | (13.68 | ) | | — | | | — | | | — | | | $ | 34.20 | | (28.57 | )% | | 2.80 | % | | 2.80 | % | | (1.52 | )% | | | $ | 263 | | 143 | % |
| Year Ended July 31, 2019 | | $ | 57.34 | | | (0.35 | ) | | (9.10 | ) | | (9.45 | ) | | — | | | (0.01 | ) | | (0.01 | ) | | $ | 47.88 | | (16.47 | )% | | 2.60 | % | | 2.60 | % | | (0.77 | )% | | | $ | 460 | | 77 | % |
| Year Ended July 31, 2018 | | $ | 44.08 | | | (0.63 | ) | | 14.32 | | | 13.69 | | | — | | | (0.43 | ) | | (0.43 | ) | | $ | 57.34 | | 31.20 | % | | 2.49 | % | | 2.49 | % | | (1.26 | )% | | | $ | 1,847 | | 29 | % |
| U.S. Government Plus ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 50.72 | | | 0.29 | | | (7.30 | ) | | (7.01 | ) | | — | | | — | | | — | | | $ | 43.71 | | (13.82 | )% | | 1.97 | % | | 1.90 | %(g) | | 1.34 | % | | | $ | 4,739 | | — | |
| Year Ended July 31, 2022 | | $ | 69.24 | | | (0.77 | ) | | (17.75 | ) | | (18.52 | ) | | — | | | — | | | — | | | $ | 50.72 | | (26.76 | )% | | 1.41 | % | | 1.41 | % | | (1.24 | )% | | | $ | 8,264 | | — | (h) |
| Year Ended July 31, 2021 | | $ | 85.98 | | | (0.83 | ) | | (15.91 | ) | | (16.74 | ) | | — | | | — | | | — | | | $ | 69.24 | | (19.47 | )% | | 1.51 | % | | 1.51 | % | | (1.17 | )% | | | $ | 24,182 | | 99 | % |
| Year Ended July 31, 2020 | | $ | 60.08 | | | 0.06 | | | 26.01 | | | 26.07 | | | (0.17 | ) | | — | | | (0.17 | ) | | $ | 85.98 | | 43.48 | % | | 1.40 | % | | 1.40 | % | | 0.09 | % | | | $ | 21,927 | | 392 | % |
| Year Ended July 31, 2019 | | $ | 52.14 | | | 0.61 | | | 7.94 | | | 8.55 | | | (0.61 | ) | | — | | | (0.61 | ) | | $ | 60.08 | | 16.53 | % | | 1.34 | % | | 1.34 | % | | 1.14 | % | | | $ | 23,791 | | 503 | % |
| Year Ended July 31, 2018 | | $ | 53.83 | | | 0.20 | | | (1.78 | ) | | (1.58 | ) | | (0.11 | ) | | — | | | (0.11 | ) | | $ | 52.14 | | (2.95 | )% | | 1.35 | % | | 1.35 | % | | 0.38 | % | | | $ | 14,497 | | 714 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 45.48 | | | 0.10 | | | (6.58 | ) | | (6.48 | ) | | — | | | — | | | — | | | $ | 39.00 | | (14.25 | )% | | 2.97 | % | | 2.90 | %(g) | | 0.34 | % | | | $ | 137 | | — | |
| Year Ended July 31, 2022 | | $ | 62.71 | | | (1.36 | ) | | (15.87 | ) | | (17.23 | ) | | — | | | — | | | — | | | $ | 45.48 | | (27.49 | )% | | 2.41 | % | | 2.41 | % | | (2.24 | )% | | | $ | 587 | | — | (h) |
| Year Ended July 31, 2021 | | $ | 78.67 | | | (1.50 | ) | | (14.46 | ) | | (15.96 | ) | | — | | | — | | | — | | | $ | 62.71 | | (20.29 | )% | | 2.51 | % | | 2.51 | % | | (2.17 | )% | | | $ | 1,839 | | 99 | % |
| Year Ended July 31, 2020 | | $ | 55.37 | | | (0.62 | ) | | 23.92 | | | 23.30 | | | — | (e) | | — | | | — | (e) | | $ | 78.67 | | 42.11 | % | | 2.40 | % | | 2.40 | % | | (0.91 | )% | | | $ | 2,385 | | 392 | % |
| Year Ended July 31, 2019 | | $ | 48.09 | | | 0.12 | | | 7.24 | | | 7.36 | | | (0.08 | ) | | — | | | (0.08 | ) | | $ | 55.37 | | 15.31 | % | | 2.34 | % | | 2.34 | % | | 0.14 | % | | | $ | 2,605 | | 503 | % |
| Year Ended July 31, 2018 | | $ | 50.07 | | | (0.29 | ) | | (1.68 | ) | | (1.97 | ) | | (0.01 | ) | | — | | | (0.01 | ) | | $ | 48.09 | | (3.94 | )% | | 2.35 | % | | 2.35 | % | | (0.62 | )% | | | $ | 4,374 | | 714 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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. |
| (e) | Amount is less than $0.005. |
| (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 purchases of fund shares in relation to fluctuating market values during the period. |
| (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. |
| (h) | The portfolio turnover rate significantly decreased due to there being no sales or purchases of U.S Treasury Obligations during the year. |
See accompanying notes to the financial statements.
276 :: 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 | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | Total
Return(b) | | | Gross
Expenses(c) | | | Net
Expenses(c) | | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | Portfolio
Turnover
Rate(b)(d) | |
| Utilities UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 70.17 | | 0.45 | | | (7.24 | ) | | (6.79 | ) | | (0.63 | ) | | (0.63 | ) | | $ | 62.75 | | (9.74 | )% | | 1.79 | % | | 1.79 | % | | 1.35 | % | | $ | 7,575 | | 38 | % |
| Year Ended July 31, 2022 | | $ | 58.73 | | 0.28 | | | 11.29 | | | 11.57 | | | (0.13 | ) | | (0.13 | ) | | $ | 70.17 | | 19.73 | %(e) | | 1.73 | % | | 1.73 | % | | 0.44 | % | | $ | 12,518 | | 113 | % |
| Year Ended July 31, 2021 | | $ | 51.44 | | 0.09 | | | 7.52 | | | 7.61 | | | (0.32 | )(f) | | (0.32 | ) | | $ | 58.73 | | 14.85 | % | | 2.06 | % | | 2.02 | %(g) | | 0.17 | % | | $ | 8,418 | | 95 | % |
| Year Ended July 31, 2020 | | $ | 54.09 | | 0.55 | | | (2.16 | ) | | (1.61 | ) | | (1.04 | ) | | (1.04 | ) | | $ | 51.44 | | (3.25 | )% | | 1.73 | % | | 1.73 | % | | 0.95 | % | | $ | 8,717 | | 368 | % |
| Year Ended July 31, 2019 | | $ | 45.64 | | 0.71 | | | 8.04 | | | 8.75 | | | (0.30 | ) | | (0.30 | ) | | $ | 54.09 | | 19.30 | % | | 1.72 | % | | 1.72 | % | | 1.41 | % | | $ | 31,558 | | 406 | % |
| Year Ended July 31, 2018 | | $ | 45.01 | | 0.48 | | | 0.48 | | | 0.96 | | | (0.33 | ) | | (0.33 | ) | | $ | 45.64 | | 2.15 | % | | 1.69 | % | | 1.69 | % | | 1.07 | % | | $ | 8,208 | | 314 | % |
| Service Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 64.64 | | 0.14 | | | (6.72 | ) | | (6.58 | ) | | — | | | — | | | $ | 58.06 | | (10.18 | )% | | 2.79 | % | | 2.79 | % | | 0.35 | % | | $ | 392 | | 38 | % |
| Year Ended July 31, 2022 | | $ | 54.53 | | (0.32 | ) | | 10.43 | | | 10.11 | | | — | | | — | | | $ | 64.64 | | 18.54 | %(e) | | 2.73 | % | | 2.73 | % | | (0.56 | )% | | $ | 1,069 | | 113 | % |
| Year Ended July 31, 2021 | | $ | 47.93 | | (0.39 | ) | | 6.99 | | | 6.60 | | | — | | | — | | | $ | 54.53 | | 13.77 | % | | 3.01 | % | | 2.97 | %(g) | | (0.78 | )% | | $ | 368 | | 95 | % |
| Year Ended July 31, 2020 | | $ | 50.80 | | 0.06 | | | (2.01 | ) | | (1.95 | ) | | (0.92 | ) | | (0.92 | ) | | $ | 47.93 | | (4.09 | )% | | 2.65 | % | | 2.65 | % | | 0.03 | % | | $ | 348 | | 368 | % |
| Year Ended July 31, 2019 | | $ | 42.98 | | 0.26 | | | 7.56 | | | 7.82 | | | — | | | — | | | $ | 50.80 | | 18.19 | % | | 2.67 | % | | 2.67 | % | | 0.46 | % | | $ | 1,265 | | 406 | % |
| Year Ended July 31, 2018 | | $ | 42.79 | | 0.07 | | | 0.41 | | | 0.48 | | | (0.29 | ) | | (0.29 | ) | | $ | 42.98 | | 1.14 | % | | 2.67 | % | | 2.67 | % | | 0.09 | % | | $ | 635 | | 314 | % |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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. |
| (e) | During the year ended July 31, 2022, the Fund received monies related to certain nonrecurring litigation settlements. The corresponding impact to the total return was 0.16%. |
| (f) | Subsequent to the issuance of the July 31, 2021 financial statements, $0.10 of the distribution was determined to be a return of capital. |
| (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 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.
Consolidated Financial Highlights
278 :: Consolidated Financial Highlights
ProFunds Consolidated 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 | | | | | | | | Ratios to
Average Net Assets | | | Supplemental
Data | |
| | | 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 | | | Net
Asset
Value,
End of
Period | | Total
Return(b) | | | Gross
Expenses(c) | | | Net
Expenses(c) | | | Net
Investment
Income
(Loss)(c) | | | Net
Assets,
End of
Period
(000's) | | Portfolio
Turnover
Rate(b)(d) | |
| Bitcoin Strategy ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 13.99 | | 0.02 | | | (0.23 | )(e) | | (0.21 | ) | | (0.22 | ) | | (0.22 | ) | | $ | 13.56 | | (1.53 | )% | | 1.71 | %(f) | | 1.23 | %(f) | | 0.31 | % | | $ | 30,231 | | — | |
| Year Ended July 31, 2022 | | $ | 24.70 | | (0.27 | ) | | (10.44 | ) | | (10.71 | ) | | — | | | — | | | $ | 13.99 | | (43.36 | )% | | 1.93 | %(g) | | 1.25 | %(g) | | (1.17 | )% | | $ | 23,548 | | — | |
| July 28, 2021 through July 31, 2021(h) | | $ | 25.00 | | — | (i) | | (0.30 | ) | | (0.30 | ) | | — | | | — | | | $ | 24.70 | | (1.20 | )% | | 24.80 | %(g) | | 1.30 | %(g) | | (1.28 | )% | | $ | 524 | | — | |
| Short Bitcoin Strategy ProFund | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Investor Class | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Six Months Ended January 31, 2023 (unaudited) | | $ | 20.65 | | (0.04 | ) | | (3.37 | ) | | (3.41 | ) | | — | | | — | | | $ | 17.24 | | (16.51 | )% | | 12.63 | %(j) | | 1.35 | %(j)(k) | | (0.31 | )% | | $ | 319 | | — | |
| June 21, 2022 through July 31, 2022(h) | | $ | 25.00 | | (0.04 | ) | | (4.31 | ) | | (4.35 | ) | | — | | | — | | | $ | 20.65 | | (17.40 | )% | | 17.68 | %(l) | | 1.88 | %(l)(m) | | (1.39 | )% | | $ | 405 | | — | |
| (a) | Per share net investment income (loss) has been calculated using the average daily shares method. |
| (b) | Not annualized for periods less than one year. |
| (c) | Annualized for periods less than one year. |
| (d) | 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). |
| (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) | The expense ratios reflect all interest expense and other costs related to reverse repurchase agreements and trading of Bitcoin futures contracts. Excluding interest expense and these other costs, the net expense ratio would have been 0.93%. |
| (g) | The expense ratios reflect all interest expense and other costs related to reverse repurchase agreements and trading of Bitcoin futures contracts. Excluding interest expense and these other costs, the net expense ratio would have been 0.84%. |
| (h) | Period from commencement of operations. |
| (i) | Amount is less than $0.005. |
| (j) | The expense ratios reflect all interest expense and other costs related to reverse repurchase agreements and trading of Bitcoin futures contracts. Excluding interest expense and these other costs, the net expense ratio would have been 1.07%. |
| (k) | For the period ended January 31, 2023, the Advisor voluntarily waived fees and expenses to limit the expense ratio to 1.35%. |
| (l) | The expense ratios reflect all interest expense and other costs related to reverse repurchase agreements and trading of Bitcoin futures contracts. Excluding interest expense and these other costs, the net expense ratio would have been 1.26%. |
| (m) | For the period June 21, 2022 through July 31, 2022, the Advisor voluntarily waived fees and expenses to limit the expense ratio (excluding interest expense and certain other costs) to 1.26%. |
See accompanying notes to the financial statements.
Notes to Financial Statements
280 :: Notes to Financial Statements :: January 31, 2023 (unaudited)
1. Organization
ProFunds (the "Trust") consists of 117^ 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
Europe 30 ProFund
Large-Cap Growth ProFund
Large-Cap Value ProFund
Mid-Cap Growth ProFund
Mid-Cap ProFund
Mid-Cap Value ProFund
Nasdaq-100 ProFund
Small-Cap Growth ProFund
Small-Cap ProFund
Small-Cap Value ProFund
Ultra ProFunds:
UltraBull ProFund
UltraChina ProFund
UltraDow 30 ProFund
UltraEmerging Markets ProFund
UltraInternational ProFund
UltraJapan ProFund
UltraLatin America ProFund
UltraMid-Cap ProFund
UltraNasdaq-100 ProFund
UltraSmall-Cap ProFund
Inverse ProFunds:
Bear ProFund
Short Nasdaq-100 ProFund
Short Small-Cap ProFund
UltraBear ProFund
UltraShort China ProFund
UltraShort Dow 30 ProFund
UltraShort Emerging Markets ProFund
UltraShort International ProFund
UltraShort Japan ProFund
UltraShort Latin America ProFund
UltraShort Mid-Cap ProFund
UltraShort Nasdaq-100 ProFund
UltraShort Small-Cap ProFund
UltraSector ProFunds:
Banks UltraSector ProFund
Biotechnology UltraSector ProFund
Communication Services UltraSector ProFund
Consumer Discretionary UltraSector ProFund*
Consumer Staples UltraSector ProFund*
Energy UltraSector ProFund*
Financials UltraSector ProFund
Health Care UltraSector ProFund
Industrials UltraSector ProFund
Internet UltraSector ProFund
Materials UltraSector ProFund*
Oil & Gas Equipment & Services UltraSector ProFund*
Pharmaceuticals UltraSector ProFund
Precious Metals UltraSector ProFund
Real Estate UltraSector ProFund
Semiconductor UltraSector ProFund
Technology UltraSector ProFund
Telecommunications UltraSector ProFund^
Utilities UltraSector ProFund
Inverse Sector ProFunds:
Short Energy ProFund*
Short Precious Metals ProFund
Short Real Estate ProFund
Digital Assets ProFunds:
Bitcoin Strategy ProFund
Short Bitcoin Strategy ProFund
Non-Equity ProFunds:
Access Flex Bear High Yield ProFund
Access Flex High Yield ProFund
Falling U.S. Dollar ProFund
Rising Rates Opportunity ProFund
Rising Rates Opportunity 10 ProFund
Rising U.S. Dollar ProFund
U.S. Government Plus ProFund
| ^ | As described in Note 11, on February 7, 2023, the Telecommunications UltraSector ProFund was liquidated and closed. Accordingly, the total number of separate investment portfolios in the Trust was reduced from 117 to 116 on this date. |
January 31, 2023 (unaudited) :: Notes to Financial Statements :: 281
| * | Also, as further described in Note 11, subsequent to the end of the reporting period changes were made the underlying benchmark indices of certain UltraSector and Inverse Sector ProFunds. These changes to the benchmark indices resulted in corresponding name changes for certain UltraSector and Inverse Sector ProFunds. The names of the respective ProFunds, as of the issuance date of this report, have been presented throughout the Schedules of Portfolio Investments, Financial Statements, these Notes to Financial Statements, and the accompanying supplemental data in this report, and have been annotated with a " * " (" † " in the Schedules of Portfolio Investments). The following table presents both the ProFund's current name as well as the name by which each respective ProFund was formerly known: |
| Current Name: | | Formerly Known as: | |
| | | | |
| Consumer Discretionary UltraSector Profund | | Consumer Services UltraSector ProFund | |
| Consumer Staples UltraSector ProFund | | Consumer Goods UltraSector ProFund | |
| Energy UltraSector ProFund | | Oil & Gas UltraSector ProFund | |
| Materials UltraSector ProFund | | Basic Materials UltraSector ProFund | |
| Oil & Gas Equipment & Services UltraSector ProFund | | Oil Equipment & Services UltraSector ProFund | |
| Short Energy ProFund | | Short Oil & Gas 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, with the exception of Bitcoin Strategy ProFund and Short Bitcoin Strategy ProFund, has two classes of shares outstanding: an Investor Class and a Service Class. The Bitcoin Strategy ProFund and Short Bitcoin Strategy ProFund each have one class, an Investor Class.
The Large-Cap Growth ProFund may operate as "non-diversified", as defined under the 1940 Act, to the extent necessary to approximate the composition of its index.
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 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.
Basis of Consolidation
The accompanying Consolidated Schedules of Portfolio Investments, Consolidated Statements of Assets and Liabilities, Consolidated Statements of Operations, Consolidated Statements of Changes in Net Assets, Consolidated Statements of Cash Flows, and Consolidated Financial Highlights of Bitcoin Strategy ProFund and Short Bitcoin Strategy ProFund include the accounts of the ProFunds Bitcoin Strategy Portfolio and ProFunds Short Bitcoin Strategy Portfolio, respectively (each a "Subsidiary"). Each Subsidiary is a wholly-owned subsidiary of the Bitcoin Strategy ProFund and Short Bitcoin Strategy ProFund, respectively, organized under the laws of the Cayman Islands, and primarily invests in Bitcoin related instruments. Each Subsidiary enables the respective ProFund to hold these Bitcoin-related instruments and satisfy "regulated investment company" ("RIC") tax requirements. Each of the Digital Assets ProFunds will invest a significant portion of its' total assets in its respective Subsidiary. As of January 31, 2023, the net assets of ProFund Bitcoin Strategy Portfolio were 19.0% of the adjusted net assets of Bitcoin Strategy ProFund and the net assets of ProFunds Short Bitcoin Portfolio were 17.4% of the adjusted net assets of Short Bitcoin Strategy ProFund (as adjusted for reverse repurchase agreements). Intercompany accounts and transactions, if any, have been eliminated. Each Subsidiary is subject to the same investment policies and restrictions that apply to Bitcoin Strategy ProFund and Short Bitcoin Strategy ProFund, respectively, except that each Subsidiary may invest without limitation in Bitcoin-related instruments.
Investment in a Subsidiary
The Bitcoin Strategy ProFund and Short Bitcoin Strategy ProFund intend to achieve commodity exposure through investment in their respective Subsidiary. The Bitcoin Strategy ProFund and Short Bitcoin Strategy ProFund's investment in its Subsidiary is intended to provide each ProFund with exposure to commodity and financial markets in accordance with applicable rules and regulations. The Subsidiaries may invest in derivatives, including futures, forwards, options and other investments intended to serve as margin or collateral or otherwise support the Subsidiary's derivatives positions. The Subsidiaries are not registered under the 1940 Act, and will not have all of the protections offered to investors in RICs. The Board, however, has oversight responsibility for the investment activities of the ProFunds, including its investment in its respective Subsidiary, and each ProFund's role as the sole shareholder of its respective Subsidiary. Changes in the laws of the United States and/or the Cayman Islands, under which the ProFunds and the Subsidiaries are organized, respectively, could result in the inability of the ProFunds and/or its Subsidiary to operate as described in the ProFunds Statement of Additional Information and could negatively affect the ProFunds and its' shareholders. For example, the Cayman Islands does not currently impose any income, corporate or capital gains tax, estate duty, inheritance tax, gift tax or withholding tax on a Subsidiary. If Cayman Islands law changes such that a Subsidiary must pay Cayman Islands taxes, ProFunds shareholders would likely suffer
282 :: Notes to Financial Statements :: January 31, 2023 (unaudited)
decreased investment returns. In this report, the financial statements of each Subsidiary have been consolidated with the financial statements of the respective ProFund by which it is wholly-owned.
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 business day. The resale price is typically 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. ProFunds within the 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, 2023, 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,
4.17%,
dated 1/31/23,
due 2/1/23(1) | | | Credit Agricole,
4.22%,
dated 1/31/23,
due 2/1/23(2) | | | HSBC Securities
(USA), Inc.,
4.15%,
dated 1/31/23,
due 2/1/23(3) | | | RBC Capital
Markets, LLC,
4.20%,
dated 1/31/23,
due 2/1/23(4) | | | Societe
Generale,
4.22%,
dated 1/31/23,
due 2/1/23(5) | | | UMB Bank,
N.A.,
4.22%,
dated 1/31/23,
due 2/1/23(6) | |
| Access Flex Bear High Yield ProFund | | $ | 73,000 | | | $ | 457,000 | | | $ | 91,000 | | | $ | 301,000 | | | $ | 457,000 | | | $ | 245,000 | |
| Access Flex High Yield ProFund | | | 380,000 | | | | 2,375,000 | | | | 475,000 | | | | 1,567,000 | | | | 2,375,000 | | | | 1,259,000 | |
| Banks UltraSector ProFund | | | 78,000 | | | | 490,000 | | | | 97,000 | | | | 322,000 | | | | 490,000 | | | | 266,000 | |
| Bear ProFund | | | 586,000 | | | | 3,666,000 | | | | 732,000 | | | | 2,419,000 | | | | 3,666,000 | | | | 1,950,000 | |
| Biotechnology UltraSector ProFund | | | 1,115,000 | | | | 6,974,000 | | | | 1,394,000 | | | | 4,602,000 | | | | 6,974,000 | | | | 3,697,000 | |
| Bull ProFund | | | 463,000 | | | | 2,905,000 | | | | 579,000 | | | | 1,917,000 | | | | 2,905,000 | | | | 1,547,000 | |
| Communication Services UltraSector ProFund | | | 54,000 | | | | 347,000 | | | | 69,000 | | | | 229,000 | | | | 347,000 | | | | 190,000 | |
| Consumer Discretionary UltraSector ProFund* | | | 265,000 | | | | 1,668,000 | | | | 332,000 | | | | 1,101,000 | | | | 1,668,000 | | | | 889,000 | |
| Consumer Staples UltraSector ProFund* | | | 32,000 | | | | 202,000 | | | | 40,000 | | | | 133,000 | | | | 202,000 | | | | 116,000 | |
| Energy UltraSector ProFund* | | | 534,000 | | | | 3,344,000 | | | | 667,000 | | | | 2,207,000 | | | | 3,344,000 | | | | 1,780,000 | |
| Falling U.S. Dollar ProFund | | | 136,000 | | | | 859,000 | | | | 171,000 | | | | 566,000 | | | | 859,000 | | | | 463,000 | |
| Financials UltraSector ProFund | | | 46,000 | | | | 299,000 | | | | 57,000 | | | | 197,000 | | | | 299,000 | | | | 171,000 | |
January 31, 2023 (unaudited) :: Notes to Financial Statements :: 283
| Fund Name | | Canadian
Imperial Bank
of Commerce,
4.17%,
dated 1/31/23,
due 2/1/23(1) | | | Credit Agricole,
4.22%,
dated 1/31/23,
due 2/1/23(2) | | | HSBC Securities
(USA), Inc.,
4.15%,
dated 1/31/23,
due 2/1/23(3) | | | RBC Capital
Markets, LLC,
4.20%,
dated 1/31/23,
due 2/1/23(4) | | | Societe
Generale,
4.22%,
dated 1/31/23,
due 2/1/23(5) | | | UMB Bank,
N.A.,
4.22%,
dated 1/31/23,
due 2/1/23(6) | |
| Health Care UltraSector ProFund | | $ | 200,000 | | | $ | 1,253,000 | | | $ | 249,000 | | | $ | 826,000 | | | $ | 1,253,000 | | | $ | 676,000 | |
| Industrials UltraSector ProFund | | | 34,000 | | | | 221,000 | | | | 43,000 | | | | 146,000 | | | | 221,000 | | | | 123,000 | |
| Internet UltraSector ProFund | | | 697,000 | | | | 4,363,000 | | | | 871,000 | | | | 2,879,000 | | | | 4,363,000 | | | | 2,320,000 | |
| Large-Cap Growth ProFund | | | — | | | | 2,000 | | | | — | | | | 1,000 | | | | 2,000 | | | | 3,000 | |
| Large-Cap Value ProFund | | | 3,000 | | | | 23,000 | | | | 4,000 | | | | 15,000 | | | | 23,000 | | | | 17,000 | |
| Materials UltraSector ProFund* | | | 72,000 | | | | 456,000 | | | | 91,000 | | | | 301,000 | | | | 456,000 | | | | 250,000 | |
| Mid-Cap Growth ProFund | | | — | | | | 3,000 | | | | — | | | | 2,000 | | | | 3,000 | | | | 5,000 | |
| Mid-Cap ProFund | | | 119,000 | | | | 759,000 | | | | 151,000 | | | | 501,000 | | | | 759,000 | | | | 413,000 | |
| Mid-Cap Value ProFund | | | 3,000 | | | | 21,000 | | | | 4,000 | | | | 14,000 | | | | 21,000 | | | | 15,000 | |
| Nasdaq-100 ProFund | | | 4,118,000 | | | | 25,742,000 | | | | 5,147,000 | | | | 16,989,000 | | | | 25,742,000 | | | | 13,633,000 | |
| Oil & Gas Equipment & Services UltraSector ProFund* | | | 143,000 | | | | 902,000 | | | | 179,000 | | | | 594,000 | | | | 902,000 | | | | 486,000 | |
| Pharmaceuticals UltraSector ProFund | | | 62,000 | | | | 400,000 | | | | 79,000 | | | | 264,000 | | | | 400,000 | | | | 223,000 | |
| Precious Metals UltraSector ProFund | | | 297,000 | | | | 1,862,000 | | | | 371,000 | | | | 1,229,000 | | | | 1,862,000 | | | | 992,000 | |
| Real Estate UltraSector ProFund | | | 46,000 | | | | 299,000 | | | | 59,000 | | | | 197,000 | | | | 299,000 | | | | 167,000 | |
| Rising Rates Opportunity ProFund | | | 760,000 | | | | 4,757,000 | | | | 950,000 | | | | 3,139,000 | | | | 4,757,000 | | | | 2,526,000 | |
| Rising Rates Opportunity 10 ProFund | | | 138,000 | | | | 872,000 | | | | 173,000 | | | | 574,000 | | | | 872,000 | | | | 471,000 | |
| Rising U.S. Dollar ProFund | | | 801,000 | | | | 5,017,000 | | | | 1,002,000 | | | | 3,311,000 | | | | 5,017,000 | | | | 2,665,000 | |
| Semiconductor UltraSector ProFund | | | 1,013,000 | | | | 6,340,000 | | | | 1,267,000 | | | | 4,183,000 | | | | 6,340,000 | | | | 3,363,000 | |
| Short Energy ProFund* | | | 63,000 | | | | 399,000 | | | | 79,000 | | | | 263,000 | | | | 399,000 | | | | 220,000 | |
| Short Nasdaq-100 ProFund | | | 373,000 | | | | 2,337,000 | | | | 466,000 | | | | 1,542,000 | | | | 2,337,000 | | | | 1,246,000 | |
| Short Precious Metals ProFund | | | 182,000 | | | | 1,144,000 | | | | 228,000 | | | | 754,000 | | | | 1,144,000 | | | | 613,000 | |
| Short Real Estate ProFund | | | 74,000 | | | | 472,000 | | | | 93,000 | | | | 311,000 | | | | 472,000 | | | | 258,000 | |
| Short Small-Cap ProFund | | | 91,000 | | | | 589,000 | | | | 116,000 | | | | 389,000 | | | | 589,000 | | | | 323,000 | |
| Small-Cap ProFund | | | 56,000 | | | | 357,000 | | | | 70,000 | | | | 236,000 | | | | 357,000 | | | | 200,000 | |
| Small-Cap Value ProFund | | | 3,000 | | | | 24,000 | | | | 4,000 | | | | 16,000 | | | | 24,000 | | | | 17,000 | |
| Technology UltraSector ProFund | | | 356,000 | | | | 2,232,000 | | | | 445,000 | | | | 1,472,000 | | | | 2,232,000 | | | | 1,188,000 | |
| UltraBear ProFund | | | 474,000 | | | | 2,968,000 | | | | 593,000 | | | | 1,958,000 | | | | 2,968,000 | | | | 1,579,000 | |
| UltraBull ProFund | | | 1,705,000 | | | | 10,662,000 | | | | 2,132,000 | | | | 7,037,000 | | | | 10,662,000 | | | | 5,653,000 | |
| UltraChina ProFund | | | 334,000 | | | | 2,095,000 | | | | 417,000 | | | | 1,382,000 | | | | 2,095,000 | | | | 1,118,000 | |
| UltraDow 30 ProFund | | | 284,000 | | | | 1,784,000 | | | | 356,000 | | | | 1,177,000 | | | | 1,784,000 | | | | 951,000 | |
| UltraEmerging Markets ProFund | | | 77,000 | | | | 487,000 | | | | 97,000 | | | | 321,000 | | | | 487,000 | | | | 265,000 | |
| UltraInternational ProFund | | | 312,000 | | | | 1,961,000 | | | | 391,000 | | | | 1,293,000 | | | | 1,961,000 | | | | 1,049,000 | |
| UltraJapan ProFund | | | 500,000 | | | | 3,127,000 | | | | 625,000 | | | | 2,064,000 | | | | 3,127,000 | | | | 1,658,000 | |
| UltraLatin America ProFund | | | 65,000 | | | | 411,000 | | | | 82,000 | | | | 271,000 | | | | 411,000 | | | | 223,000 | |
| UltraMid-Cap ProFund | | | 609,000 | | | | 3,821,000 | | | | 763,000 | | | | 2,521,000 | | | | 3,821,000 | | | | 2,032,000 | |
| UltraNasdaq-100 ProFund | | | 8,432,000 | | | | 52,707,000 | | | | 10,540,000 | | | | 34,786,000 | | | | 52,707,000 | | | | 27,908,000 | |
| UltraShort China ProFund | | | 98,000 | | | | 615,000 | | | | 122,000 | | | | 406,000 | | | | 615,000 | | | | 332,000 | |
| UltraShort Dow 30 ProFund | | | 123,000 | | | | 784,000 | | | | 156,000 | | | | 516,000 | | | | 784,000 | | | | 421,000 | |
| UltraShort Emerging Markets ProFund | | | 26,000 | | | | 172,000 | | | | 34,000 | | | | 112,000 | | | | 172,000 | | | | 100,000 | |
| UltraShort International ProFund | | | 104,000 | | | | 661,000 | | | | 131,000 | | | | 435,000 | | | | 661,000 | | | | 356,000 | |
| UltraShort Japan ProFund | | | 11,000 | | | | 72,000 | | | | 14,000 | | | | 48,000 | | | | 72,000 | | | | 42,000 | |
| UltraShort Latin America ProFund | | | 33,000 | | | | 215,000 | | | | 41,000 | | | | 142,000 | | | | 215,000 | | | | 121,000 | |
| UltraShort Mid-Cap ProFund | | | 58,000 | | | | 365,000 | | | | 72,000 | | | | 240,000 | | | | 365,000 | | | | 200,000 | |
| UltraShort Nasdaq-100 ProFund | | | 919,000 | | | | 5,754,000 | | | | 1,149,000 | | | | 3,796,000 | | | | 5,754,000 | | | | 3,054,000 | |
| UltraShort Small-Cap ProFund | | | 215,000 | | | | 1,357,000 | | | | 270,000 | | | | 895,000 | | | | 1,357,000 | | | | 726,000 | |
| UltraSmall-Cap ProFund | | | 1,218,000 | | | | 7,613,000 | | | | 1,521,000 | | | | 5,024,000 | | | | 7,613,000 | | | | 4,040,000 | |
| U.S. Government Plus ProFund | | | 528,000 | | | | 3,305,000 | | | | 660,000 | | | | 2,181,000 | | | | 3,305,000 | | | | 1,757,000 | |
| Utilities UltraSector ProFund | | | 61,000 | | | | 400,000 | | | | 79,000 | | | | 263,000 | | | | 400,000 | | | | 222,000 | |
| | | $ | 29,652,000 | | | $ | 185,768,000 | | | $ | 37,090,000 | | | $ | 122,577,000 | | | $ | 185,768,000 | | | $ | 98,793,000 | |
Each repurchase agreement was fully collateralized by U.S. government securities as of January 31, 2023 as follows:
| (1) | U.S. Treasury Notes, 2.50%, due 3/31/27, total value $30,253,098. |
| (2) | U.S. Treasury Inflation-Protected Securities (TIPS), 0.125%, due 10/15/24 to 7/15/31, which had an aggregate value of $189,581,608. |
284 :: Notes to Financial Statements :: January 31, 2023 (unaudited)
| (3) | U.S. Treasury Notes, 3.50%, due 1/31/30, total value $37,840,417. |
| (4) | U.S. Treasury Inflation-Protected Securities (TIPS), 0.125% to 0.375%, due 7/15/23 to 10/15/24, which had an aggregate value of $125,039,523. |
| (5) | U.S. Treasury Bonds, 2.00%, due 11/15/41, total value $189,490,392. |
| (6) | U.S. Treasury Notes, 0.25%, due 3/15/24, total value $100,776,744. |
Reverse Repurchase Agreements
The Bitcoin Strategy ProFund and Short Bitcoin Strategy ProFund may each enter into reverse repurchase agreements as part of its investment strategy, which may be viewed as a form of borrowing. Reverse repurchase agreements involve sales by the ProFunds of portfolio assets for cash concurrently with an agreement by the ProFunds to repurchase those same assets at a later date at a fixed price. Generally, the effect of such a transaction is that the ProFunds can recover all or most of the cash invested in the portfolio securities involved during the term of the reverse repurchase agreement, while the ProFunds will be able to keep the interest income associated with those portfolio securities. Such transactions are advantageous only if the interest cost to the ProFunds of the reverse repurchase transaction is less than the cost of obtaining the cash otherwise. Opportunities to achieve this advantage may not always be available, and the ProFunds intend to use the reverse repurchase technique only when it will be to the ProFunds advantage to do so. The ProFunds will each segregate with its custodian bank cash or liquid instruments equal in value to each ProFund's obligations with respect to reverse repurchase agreements.
As of January 31, 2023, the ProFunds' outstanding balances on reverse repurchase agreements were as follows:
| | | Counterparty | | Interest Rate | | | Principal
Amount | | | Maturity | | Value | | | Value &
Accrued
Interest | |
| Bitcoin Strategy ProFund | | UMB Bank N.A. | | | 4.39 | % | | $ | (13,974,660 | ) | | 2/1/2023 | | $ | (13,974,660 | ) | | $ | (13,976,364 | ) |
| Short Bitcoin Strategy ProFund | | UMB Bank N.A. | | | 4.39 | % | | | (199,638 | ) | | 2/1/2023 | | | (199,638 | ) | | | (199,662 | ) |
For the period ended January 31, 2023, the average daily balance outstanding and average interest rate on the ProFunds' reverse repurchase agreements were as follows:
| Bitcoin Strategy ProFund | | | | |
| Average daily balance outstanding | | $ | (11,231,743 | ) |
| Average interest rate | | | 3.45 | % |
| Short Bitcoin Strategy ProFund | | | | |
| Average daily balance outstanding | | $ | (199,692 | ) |
| Average interest rate | | | 3.45 | % |
The following table presents the reverse repurchase agreements subject to netting agreements and the collateral delivered related to those reverse repurchase agreements.
| | | Counterparty | | Reverse
Repurchase
Agreements(1) | | | Collateral
Pledged to
Counterparty | |
| Bitcoin Strategy ProFund | | UMB Bank N.A. | | $ | (13,976,364 | ) | | $ | 13,974,951 | |
| Short Bitcoin Strategy ProFund | | UMB Bank N.A. | | $ | (199,662 | ) | | $ | 199,642 | |
(1) Represents gross value and accrued interest for the counterparty as reported in the preceding table.
Investments in Other Investment Companies
Each ProFund may invest in other investment companies, including exchange-traded funds ("ETFs") and unit investment trusts ("UITs"), to the extent that such an investment would be consistent with the requirements of the 1940 Act. If the ProFund invests in, and thus, is a shareholder of, another investment company, the ProFund's shareholders will indirectly bear the ProFund's proportionate share of the fees and expenses paid by such other investment company, including advisory fees, in addition to both the management fees payable directly by the ProFund to the ProFund's own investment adviser and the other expenses that the ProFund bears directly in connection with the ProFund's own operations. Because most ETFs are investment companies, absent reliance on Rule 12d1-4, the ProFund's investments in such investment companies generally would be limited under applicable federal statutory provisions. Those provisions typically restrict the ProFund's investment in the shares of another investment company to up to 5% of its assets (which may represent no more than 3% of the securities of such other investment company) and limit aggregate investments in all investment companies to 10% of assets. The ProFund may invest in certain ETFs in excess of the statutory limit in reliance on Rule 12d1-4. Rule 12d1-4 outlines the requirements of Fund of Funds Agreements and specifies the responsibilities of the Board related to "fund of fund" arrangements.
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
January 31, 2023 (unaudited) :: Notes to Financial Statements :: 285
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 the Non-Equity ProFunds and Digital Assets ProFunds) 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. Certain ProFunds may obtain investment exposure through 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, 2023, were utilized to gain exposure or inverse exposure to each ProFund's benchmark (e.g., index, etc.) to meet its investment objective.
The Access Flex Bear High Yield ProFund and Access Flex High Yield ProFund maintain exposure to the high yield market (i.e., U.S. corporate high yield debt market), regardless of market conditions. This means these ProFunds do not adopt defensive positions in cash or other instruments in anticipation of an adverse market climate. The Access Flex Bear High Yield ProFund invests primarily in derivatives, money market instruments, and U.S. Treasury obligations that the Advisor believes, in combination, should provide investment results that correspond to the high yield market. The Access Flex High Yield ProFund invests primarily in derivatives, money market instruments, and U.S. Treasury obligations that the Advisor believes, in combination, should provide investment results that correspond to the high yield market. During the period ended January 31, 2023, the ProFunds held credit default swap agreements for credit exposure to the high yield market and futures contracts and/or treasury notes for interest rate exposure to meet the ProFunds' 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, 2023. 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 futures contracts in the UltraShort Japan ProFund, was 105%, based on average monthly notional amounts in comparison to net assets during the period ended January 31, 2023. The volume associated with swap agreements in the Small-Cap ProFund and UltraShort Japan ProFund was 49% and 94%, respectively, based on average monthly notional amounts in comparison to net assets during the period ended January 31, 2023.
In connection with its management of certain series of the Trust included in this report (Bitcoin Strategy ProFund, Short Bitcoin Strategy ProFund, 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 is 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.
286 :: Notes to Financial Statements :: January 31, 2023 (unaudited)
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 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 its currency transactions to qualify as a 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 it 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.
January 31, 2023 (unaudited) :: Notes to Financial Statements :: 287
If the Falling U.S. Dollar and Rising U.S. Dollar ProFunds engage in offsetting transactions it 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 enter 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 Statement of Assets and Liabilities and the Schedule of Portfolio Investments, respectively. 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. Similarly, the Falling U.S. Dollar and Rising U.S. Dollar 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 ProFunds 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, 2023, the collateral posted by counterparties consisted of cash.
Credit Default Swap ("CDS") Agreements
As of January 31, 2023, the Access Flex Bear High Yield ProFund invested in centrally cleared credit default swaps as a substitute for shorting notes in order to gain inverse credit exposure to the high yield market. As of January 31, 2023, the Access Flex High Yield ProFund invested in centrally cleared credit default swaps as a substitute for investing directly in notes in order to gain credit exposure to the high yield market.
In a CDS, the agreement will reference one or more debt securities or reference entities. The protection "buyer" in a credit default contract is generally obligated to pay the protection "seller" a periodic stream of payments over the term of the contract until a credit event, such as a default, on a reference entity has occurred. If a credit event occurs, the seller generally must pay the buyer: a) the full notional value of the swap; or b) the difference between the notional value of the defaulted reference entity and the recovery price/rate for the defaulted reference entity. CDS are designed to reflect changes in credit quality, including events of default. A CDS may require premium (discount) payments as well as daily payments (receipts) related to the interest leg of the swap or to the default or change in price of a reference entity.
The counterparty risk for cleared swap agreements is generally lower than for uncleared over-the-counter swap agreements because, generally, a clearing organization becomes substituted for each counterparty to a cleared swap agreement and, in effect, guarantees each party's performance under the contract as each party to a trade looks only to the clearing organization for performance of financial obligations. However, there can be no assurance that the clearing organization, or its members, will satisfy its obligations to a ProFund.
If a ProFund is a seller of a CDS contract (also referred to as a seller of protection or as a buyer of risk), the ProFund would be required to pay the par (or other agreed upon) value of a referenced obligation to the counterparty in the event of a default or other credit event. In return, the ProFund would receive from the counterparty a daily stream of payments over the term of the contract provided that no event of default has occurred. If no default occurs, the ProFund would keep the stream of payments and would have no payment obligations. As the seller, the ProFund would be subject to investment exposure on the notional amount of the swap.
If a ProFund is a buyer of a CDS contract (also referred to as a buyer of protection or a seller of risk), the ProFund would have the right to deliver a reference obligation and receive the par (or other agreed-upon) value of such obligation from the counterparty in the event of a default or other credit event (such as a credit downgrade). In return, the ProFund would pay the counterparty a daily stream of payments over the term of the contract provided that no event of default has occurred. If no default occurs, the counterparty would keep the stream of payments and would have no further obligations to the ProFund.
The ProFunds enter into a CDS with multiple reference entities, in which case payments and settlements in respect of any defaulting reference entity would typically be dealt with separately from the other reference entities.
Upon entering into a centrally cleared CDS, a ProFund may be required to deposit with the broker an amount of cash or cash equivalents in the range of approximately 6% to 10% of the notional amount for CDS on high yield debt issuers (this amount is subject to change by the clearing organization that clears the trade). This amount, known as "initial margin," is in the nature of a performance bond or good faith deposit on the CDS and is returned to a ProFund upon termination of the CDS, 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 CDS fluctuates, making the long and short positions in the CDS contract more or less valuable, a process known as "marking-to-market." The premium (discount) payments are built into the daily price of the CDS and thus are amortized through the variation margin. The variation margin payment also includes the daily portion of the periodic payment stream.
288 :: Notes to Financial Statements :: January 31, 2023 (unaudited)
Swap Agreements (other than CDS)
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 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 equity 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 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
January 31, 2023 (unaudited) :: Notes to Financial Statements :: 289
proceedings. As of January 31, 2023, the collateral posted by counterparties consisted of U.S. Treasury securities and cash.
The use of swaps, including CDS, 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 (other than centrally cleared CDS) 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, 2023.
| | | 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 | |
| Commodity Risk Exposure: | | | | | | | | | | | | | | | | | | | | | | | | |
| Bitcoin Strategy ProFund | | $ | 2,244,626 | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
| Short Bitcoin Strategy ProFund | | | 768 | | | | — | | | | — | | | | 485 | | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| Credit Risk Exposure: | | | | | | | | | | | | | | | | | | | | | | | | |
| Access Flex Bear High Yield ProFund | | | — | | | | — | | | | — | | | | — | | | | 154,740 | | | | — | |
| Access Flex High Yield ProFund | | | — | | | | 1,013,930 | | | | — | | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| Equity Risk Exposure: | | | | | | | | | | | | | | | | | | | | | | | | |
| Banks UltraSector ProFund | | | — | | | | 150,410 | | | | — | | | | — | | | | — | | | | — | |
| Bear ProFund | | | — | | | | — | | | | — | | | | 54,917 | | | | 24,752 | | | | — | |
| Biotechnology UltraSector ProFund | | | — | | | | — | | | | — | | | | — | | | | 1,135,725 | | | | — | |
| Bull ProFund | | | 91,434 | | | | 12,940 | | | | — | | | | — | | | | — | | | | — | |
| Communication Services UltraSector ProFund | | | — | | | | 54,822 | | | | — | | | | — | | | | — | | | | — | |
| Consumer Discretionary UltraSector ProFund* | | | — | | | | 497,412 | | | | — | | | | — | | | | — | | | | — | |
| Consumer Staples UltraSector ProFund* | | | — | | | | 92,362 | | | | — | | | | — | | | | — | | | | — | |
| Energy UltraSector ProFund* | | | — | | | | — | | | | — | | | | — | | | | 275,229 | | | | — | |
| Financials UltraSector ProFund | | | — | | | | 84,913 | | | | — | | | | — | | | | — | | | | — | |
| Health Care UltraSector ProFund | | | — | | | | — | | | | — | | | | — | | | | 103,187 | | | | — | |
| Industrials UltraSector ProFund | | | — | | | | 40,744 | | | | — | | | | — | | | | — | | | | — | |
| Internet UltraSector ProFund | | | — | | | | 1,226,744 | | | | — | | | | — | | | | — | | | | — | |
| Materials UltraSector ProFund* | | | — | | | | 106,613 | | | | — | | | | — | | | | — | | | | — | |
| Mid-Cap ProFund | | | — | | | | 32,730 | | | | — | | | | — | | | | — | | | | — | |
| Nasdaq-100 ProFund | | | 117,927 | | | | 721,216 | | | | — | | | | — | | | | 89,222 | | | | — | |
| Oil & Gas Equipment & Services UltraSector ProFund* | | | — | | | | 547,809 | | | | — | | | | — | | | | — | | | | — | |
| Pharmaceuticals UltraSector ProFund | | | — | | | | 1,983 | | | | — | | | | — | | | | 7,846 | | | | — | |
| Precious Metals UltraSector ProFund | | | — | | | | — | | | | — | | | | — | | | | 290,392 | | | | — | |
| Real Estate UltraSector ProFund | | | — | | | | 109,832 | | | | — | | | | — | | | | — | | | | — | |
| Semiconductor UltraSector ProFund | | | — | | | | 24,381 | | | | — | | | | — | | | | — | | | | — | |
| Short Energy ProFund* | | | — | | | | 11,201 | | | | — | | | | — | | | | — | | | | — | |
| Short Nasdaq-100 ProFund | | | — | | | | 18,095 | | | | — | | | | 42,120 | | | | 3,624 | | | | — | |
| Short Precious Metals ProFund | | | — | | | | — | | | | — | | | | — | | | | 26,499 | | | | — | |
| Short Real Estate ProFund | | | — | | | | — | | | | — | | | | — | | | | 47,358 | | | | — | |
| Short Small-Cap ProFund | | | — | | | | — | | | | — | | | | 11,738 | | | | 21,592 | | | | — | |
| Small-Cap ProFund | | | — | | | | 14,793 | | | | — | | | | — | | | | — | | | | — | |
| Technology UltraSector ProFund | | | — | | | | 294,888 | | | | — | | | | — | | | | — | | | | — | |
| UltraBear ProFund | | | — | | | | — | | | | — | | | | 18,305 | | | | 21,005 | | | | — | |
290 :: Notes to Financial Statements :: January 31, 2023 (unaudited)
| | | 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 | |
| UltraBull ProFund | | $ | 128,007 | | | $ | 156,886 | | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
| UltraChina ProFund | | | — | | | | — | | | | — | | | | — | | | | 2,083,489 | | | | — | |
| UltraDow 30 ProFund | | | 45,189 | | | | 79,971 | | | | — | | | | — | | | | — | | | | — | |
| UltraEmerging Markets ProFund | | | — | | | | — | | | | — | | | | — | | | | 269,409 | | | | — | |
| UltraInternational ProFund | | | — | | | | — | | | | — | | | | — | | | | 17,184 | | | | — | |
| UltraJapan ProFund | | | 73,084 | | | | 225 | | | | — | | | | — | | | | — | | | | — | |
| UltraLatin America ProFund | | | — | | | | 148,386 | | | | — | | | | — | | | | — | | | | — | |
| UltraMid-Cap ProFund | | | 341,257 | | | | 657,984 | | | | — | | | | — | | | | — | | | | — | |
| UltraNasdaq-100 ProFund | | | 3,452,710 | | | | 215,659 | | | | — | | | | — | | | | 2,415,207 | | | | — | |
| UltraShort China ProFund | | | — | | | | 196,693 | | | | — | | | | — | | | | — | | | | — | |
| UltraShort Dow 30 ProFund | | | — | | | | — | | | | — | | | | — | | | | 16,539 | | | | — | |
| UltraShort Emerging Markets ProFund | | | — | | | | 24,076 | | | | — | | | | — | | | | — | | | | — | |
| UltraShort International ProFund | | | — | | | | 1,129 | | | | — | | | | — | | | | 2,094 | | | | — | |
| UltraShort Japan ProFund | | | — | | | | — | | | | — | | | | 14,910 | | | | 468 | | | | — | |
| UltraShort Latin America ProFund | | | — | | | | — | | | | — | | | | — | | | | 17,553 | | | | — | |
| UltraShort Mid-Cap ProFund | | | — | | | | 3,237 | | | | — | | | | 16,746 | | | | 16,480 | | | | — | |
| UltraShort Nasdaq-100 ProFund | | | — | | | | 221,756 | | | | — | | | | 105,929 | | | | — | | | | — | |
| UltraShort Small-Cap ProFund | | | — | | | | 42,445 | | | | — | | | | — | | | | 43,607 | | | | — | |
| UltraSmall-Cap ProFund | | | 392,994 | | | | 1,117,851 | | | | — | | | | — | | | | — | | | | — | |
| Utilities UltraSector ProFund | | | — | | | | — | | | | — | | | | — | | | | 13,097 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| Foreign Exchange Rate Risk Exposure: | | | | | | | | | | | | | | | | | | | | | | | | |
| Falling U.S. Dollar ProFund | | | — | | | | — | | | | 31,524 | | | | — | | | | — | | | | 815 | |
| Rising U.S. Dollar ProFund | | | — | | | | — | | | | 25,020 | | | | — | | | | — | | | | 269,105 | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| Interest Rate Risk Exposure: | | | | | | | | | | | | | | | | | | | | | | | | |
| Access Flex Bear High Yield ProFund | | | — | | | | — | | | | — | | | | 18,730 | | | | — | | | | — | |
| Access Flex High Yield ProFund | | | 29,182 | | | | — | | | | — | | | | — | | | | — | | | | — | |
| Rising Rates Opportunity 10 ProFund | | | — | | | | — | | | | — | | | | — | | | | 12,966 | | | | — | |
| Rising Rates Opportunity ProFund | | | — | | | | — | | | | — | | | | — | | | | 86,003 | | | | — | |
| U.S. Government Plus ProFund | | | — | | | | 87,954 | | | | — | | | | — | | | | — | | | | — | |
| ** | Includes cumulative appreciation/depreciation of futures contracts and credit default swap agreements 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, 2023.
| | | 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
Realized
Gains (Losses) | | | Net
Realized
Gains (Losses) | | | Net
Realized
Gains (Losses)
on Forward | | | Change in
Net
Unrealized
Appreciation/
Depreciation | | | Change in
Net
Unrealized
Appreciation/
Depreciation | | | Change in
Net
Unrealized
Appreciation/
Depreciation
on Forward | |
| Fund | | on Futures
Contracts | | | on Swap
Agreements | | | Currency
Contracts | | | on Futures
Contracts | | | on Swap
Agreements | | | Currency
Contracts | |
| Commodity Risk Exposure: | | | | | | | | | | | | | | | | | | | | | | | | |
| Bitcoin Strategy ProFund | | $ | 101,888 | | | $ | — | | | $ | — | | | $ | 509,054 | | | $ | — | | | $ | — | |
| Short Bitcoin Strategy ProFund | | | (110,713 | ) | | | — | | | | — | | | | 1,337 | | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| Credit Risk Exposure: | | | | | | | | | | | | | | | | | | | | | | | | |
| Access Flex Bear High Yield ProFund | | | — | | | | (11,366 | ) | | | — | | | | — | | | | (154,693 | ) | | | — | |
| Access Flex High Yield ProFund | | | — | | | | 19,938 | | | | — | | | | — | | | | 1,109,267 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| Equity Risk Exposure: | | | | | | | | | | | | | | | | | | | | | | | | |
| Banks UltraSector ProFund | | | — | | | | 180,076 | | | | — | | | | — | | | | 112,784 | | | | — | |
| Bear ProFund | | | (25,164 | ) | | | 492,437 | | | | — | | | | 66,226 | | | | 271,108 | | | | — | |
| Biotechnology UltraSector ProFund | | | — | | | | 3,969,954 | | | | — | | | | — | | | | (2,087,496 | ) | | | — | |
| Bull ProFund | | | (250,580 | ) | | | (809,788 | ) | | | — | | | | 1,876 | | | | (250,249 | ) | | | — | |
| Communication Services UltraSector ProFund | | | — | | | | (267,260 | ) | | | — | | | | — | | | | 28,711 | | | | — | |
January 31, 2023 (unaudited) :: Notes to Financial Statements :: 291
| | | 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
Realized
Gains (Losses) | | | Net
Realized
Gains (Losses) | | | Net
Realized
Gains (Losses)
on Forward | | | Change in
Net
Unrealized
Appreciation/
Depreciation | | | Change in
Net
Unrealized
Appreciation/
Depreciation | | | Change in
Net
Unrealized
Appreciation/
Depreciation
on Forward | |
| Fund | | on Futures
Contracts | | | on Swap
Agreements | | | Currency
Contracts | | | on Futures
Contracts | | | on Swap
Agreements | | | Currency
Contracts | |
| Consumer Discretionary UltraSector ProFund* | | $ | — | | | $ | (524,025 | ) | | $ | — | | | $ | — | | | $ | (167,752 | ) | | $ | — | |
| Consumer Staples UltraSector ProFund* | | | — | | | | (265,044 | ) | | | — | | | | — | | | | (18,006 | ) | | | — | |
| Energy UltraSector ProFund* | | | — | | | | 5,026,541 | | | | — | | | | — | | | | (2,177,775 | ) | | | — | |
| Financials UltraSector ProFund | | | — | | | | 122,636 | | | | — | | | | — | | | | (27,030 | ) | | | — | |
| Health Care UltraSector ProFund | | | — | | | | (139,667 | ) | | | — | | | | — | | | | (279,735 | ) | | | — | |
| Industrials UltraSector ProFund | | | — | | | | 147,893 | | | | — | | | | — | | | | (110,478 | ) | | | — | |
| Internet UltraSector ProFund | | | — | | | | (2,476,783 | ) | | | — | | | | — | | | | (1,127,634 | ) | | | — | |
| Materials UltraSector ProFund* | | | — | | | | 410,892 | | | | — | | | | — | | | | (51,515 | ) | | | — | |
| Mid-Cap ProFund | | | — | | | | (396,048 | ) | | | — | | | | — | | | | (2,106 | ) | | | — | |
| Nasdaq-100 ProFund | | | (331,897 | ) | | | (7,961,733 | ) | | | — | | | | (132,989 | ) | | | 93,696 | | | | — | |
| Oil & Gas Equipment & Services UltraSector ProFund* | | | — | | | | 4,401,739 | | | | — | | | | — | | | | (226,161 | ) | | | — | |
| Pharmaceuticals UltraSector ProFund | | | — | | | | (306,019 | ) | | | — | | | | — | | | | (10,149 | ) | | | — | |
| Precious Metals UltraSector ProFund | | | — | | | | 4,402,165 | | | | — | | | | — | | | | (1,118,523 | ) | | | — | |
| Real Estate UltraSector ProFund | | | — | | | | (313,224 | ) | | | — | | | | — | | | | (144,669 | ) | | | — | |
| Semiconductor UltraSector ProFund | | | — | | | | (541,520 | ) | | | — | | | | — | | | | (2,244,452 | ) | | | — | |
| Short Energy ProFund* | | | — | | | | (411,746 | ) | | | — | | | | — | | | | 211,085 | | | | — | |
| Short Nasdaq-100 ProFund | | | (209,782 | ) | | | (1,696,039 | ) | | | — | | | | 126,652 | | | | 2,113,273 | | | | — | |
| Short Precious Metals ProFund | | | — | | | | (1,518,729 | ) | | | — | | | | — | | | | 233,674 | | | | — | |
| Short Real Estate ProFund | | | — | | | | (69,333 | ) | | | — | | | | — | | | | 54,492 | | | | — | |
| Short Small-Cap ProFund | | | (2,661 | ) | | | 112,337 | | | | — | | | | 9,306 | | | | 6,044 | | | | — | |
| Small-Cap ProFund | | | — | | | | (299,105 | ) | | | — | | | | — | | | | (5,705 | ) | | | — | |
| Technology UltraSector ProFund | | | — | | | | (2,032,659 | ) | | | — | | | | — | | | | (1,733,869 | ) | | | — | |
| Telecommunications UltraSector ProFund | | | — | | | | (6,453 | ) | | | — | | | | — | | | | (20,993 | ) | | | — | |
| UltraBear ProFund | | | (8,388 | ) | | | (922,072 | ) | | | — | | | | 22,076 | | | | 538,460 | | | | — | |
| UltraBull ProFund | | | 118,521 | | | | (3,297,132 | ) | | | — | | | | 133,474 | | | | (3,309,074 | ) | | | — | |
| UltraChina ProFund | | | — | | | | 3,663,242 | | | | — | | | | — | | | | (860,904 | ) | | | — | |
| UltraDow 30 ProFund | | | 167,789 | | | | 1,447,969 | | | | — | | | | 69,903 | | | | (655,929 | ) | | | — | |
| UltraEmerging Markets ProFund | | | — | | | | 1,423,662 | | | | — | | | | — | | | | (236,261 | ) | | | — | |
| UltraInternational ProFund | | | — | | | | 931,590 | | | | — | | | | — | | | | (109,343 | ) | | | — | |
| UltraJapan ProFund | | | (17,237 | ) | | | 7,666 | | | | — | | | | (403,823 | ) | | | 719 | | | | — | |
| UltraLatin America ProFund | | | — | | | | 1,546,458 | | | | — | | | | — | | | | (117,591 | ) | | | — | |
| UltraMid-Cap ProFund | | | (93,205 | ) | | | 1,897,904 | | | | — | | | | 341,257 | | | | (926,495 | ) | | | — | |
| UltraNasdaq-100 ProFund | | | (3,237,459 | ) | | | (70,624,350 | ) | | | — | | | | 3,186,772 | | | | (21,577,883 | ) | | | — | |
| UltraShort China ProFund | | | — | | | | (1,696,094 | ) | | | — | | | | — | | | | 66,163 | | | | — | |
| UltraShort Dow 30 ProFund | | | — | | | | (564,858 | ) | | | — | | | | — | | | | 94,146 | | | | — | |
| UltraShort Emerging Markets ProFund | | | — | | | | (392,120 | ) | | | — | | | | — | | | | 14,403 | | | | — | |
| UltraShort International ProFund | | | — | | | | (1,284,873 | ) | | | — | | | | — | | | | 106,288 | | | | — | |
| UltraShort Japan ProFund | | | (10,235 | ) | | | 5,692 | | | | — | | | | (12,932 | ) | | | (888 | ) | | | — | |
| UltraShort Latin America ProFund | | | — | | | | (683,713 | ) | | | — | | | | — | | | | 76,653 | | | | — | |
| UltraShort Mid-Cap ProFund | | | 9,292 | | | | (184,222 | ) | | | — | | | | (21,854 | ) | | | 63,457 | | | | — | |
| UltraShort Nasdaq-100 ProFund | | | 47,568 | | | | (20,223,354 | ) | | | — | | | | 79,721 | | | | 6,113,082 | | | | — | |
| UltraShort Small-Cap ProFund | | | — | | | | (474,105 | ) | | | — | | | | — | | | | 179,034 | | | | — | |
| UltraSmall-Cap ProFund | | | (585,054 | ) | | | 495,609 | | | | — | | | | 561,931 | | | | (70,193 | ) | | | — | |
| Utilities UltraSector ProFund | | | — | | | | (290,602 | ) | | | — | | | | — | | | | (475,164 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| Foreign Exchange Rate Risk Exposure: | | | | | | | | | | | | | | | | | | | | | | | | |
| Falling U.S. Dollar ProFund | | | — | | | | — | | | | 88,677 | | | | — | | | | — | | | | 21,081 | |
| Rising U.S. Dollar ProFund | | | — | | | | — | | | | (1,582,543 | ) | | | — | | | | — | | | | 359,844 | |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| Interest Rate Risk Exposure: | | | | | | | | | | | | | | | | | | | | | | | | |
| Access Flex Bear High Yield ProFund | | | 93,118 | | | | — | | | | — | | | | (4,265 | ) | | | — | | | | — | |
| Access Flex High Yield ProFund | | | 7,334 | | | | — | | | | — | | | | 21,394 | | | | — | | | | — | |
| Rising Rates Opportunity ProFund | | | 70,112 | | | | 5,504,526 | | | | — | | | | — | | | | 438,131 | | | | — | |
| Rising Rates Opportunity 10 ProFund | | | — | | | | 171,000 | | | | — | | | | — | | | | 109,571 | | | | — | |
| U.S. Government Plus ProFund | | | (5,014 | ) | | | (1,680,591 | ) | | | — | | | | — | | | | (75,675 | ) | | | — | |
292 :: Notes to Financial Statements :: January 31, 2023 (unaudited)
Asset (Liability) amounts shown in the table below represent amounts owed to (by) the ProFunds for swap agreements (other than centrally cleared CDS) and forward currency contracts as of January 31, 2023. 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 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 | | $ | 76,721 | | | $ | (774 | ) | | $ | — | | | $ | 75,947 | |
| Swap Agreements — UBS AG | | | 73,689 | | | | — | | | | — | | | | 73,689 | |
| Bear ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | (4,411 | ) | | | 4,411 | | | | — | | | | — | |
| Swap Agreements — UBS AG | | | (20,341 | ) | | | 20,341 | | | | — | | | | — | |
| Biotechnology UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | (608,757 | ) | | | 608,757 | | | | — | | | | — | |
| Swap Agreements — UBS AG | | | (526,968 | ) | | | 526,968 | | | | — | | | | — | |
| Bull ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 2,313 | | | | — | | | | — | | | | 2,313 | |
| Swap Agreements — UBS AG | | | 10,627 | | | | — | | | | — | | | | 10,627 | |
| Communication Services UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 31,375 | | | | — | | | | — | | | | 31,375 | |
| Swap Agreements — UBS AG | | | 23,447 | | | | — | | | | — | | | | 23,447 | |
| Consumer Discretionary UltraSector ProFund* | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 254,958 | | | | (143,518 | ) | | | — | | | | 111,440 | |
| Swap Agreements — UBS AG | | | 242,454 | | | | (996 | ) | | | — | | | | 241,458 | |
| Consumer Staples UltraSector ProFund* | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 37,582 | | | | — | | | | — | | | | 37,582 | |
| Swap Agreements — UBS AG | | | 54,780 | | | | — | | | | — | | | | 54,780 | |
| Energy UltraSector ProFund* | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | (161,709 | ) | | | 161,709 | | | | — | | | | — | |
| Swap Agreements — UBS AG | | | (113,520 | ) | | | 113,520 | | | | — | | | | — | |
| Falling U.S. Dollar ProFund | | | | | | | | | | | | | | | | |
| Forward Currency Contracts — Goldman Sachs International | | | | | | | | | | | | | | | | |
| Appreciation | | | 9,952 | | | | | | | | | | | | | |
| (Depreciation) | | | (650 | ) | | | | | | | | | | | | |
| Net Appreciation | | | 9,302 | | | | | | | | — | | | | 9,302 | |
| Forward Currency Contracts — UBS AG | | | | | | | | | | | | | | | | |
| Appreciation | | | 21,572 | | | | | | | | | | | | | |
| (Depreciation) | | | (165 | ) | | | | | | | | | | | | |
| Net Appreciation | | | 21,407 | | | | — | | | | — | | | | 21,407 | |
| Financials UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 41,693 | | | | (12,376 | ) | | | — | | | | 29,317 | |
| Swap Agreements — UBS AG | | | 43,220 | | | | — | | | | — | | | | 43,220 | |
| Health Care UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | (63,051 | ) | | | 63,051 | | | | — | | | | — | |
| Swap Agreements — UBS AG | | | (40,136 | ) | | | 40,136 | | | | — | | | | — | |
| Industrials UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 15,240 | | | | — | | | | — | | | | 15,240 | |
| Swap Agreements — UBS AG | | | 25,504 | | | | — | | | | — | | | | 25,504 | |
| Internet UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 585,298 | | | | (111,464 | ) | | | — | | | | 473,834 | |
| Swap Agreements — UBS AG | | | 641,446 | | | | (939 | ) | | | — | | | | 640,507 | |
| Materials UltraSector ProFund* | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 46,580 | | | | (12,376 | ) | | | — | | | | 34,204 | |
| Swap Agreements — UBS AG | | | 60,033 | | | | — | | | | — | | | | 60,033 | |
| Mid-Cap ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 11,409 | | | | — | | | | — | | | | 11,409 | |
| Swap Agreements — UBS AG | | | 21,321 | | | | — | | | | — | | | | 21,321 | |
January 31, 2023 (unaudited) :: Notes to Financial Statements :: 293
| | | 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 | |
| Nasdaq-100 ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | $ | 721,215 | | | $ | — | | | $ | — | | | $ | 721,215 | |
| Swap Agreements — UBS AG | | | (89,221 | ) | | | 89,221 | | | | — | | | | — | |
| Oil & Gas Equipment & Services UltraSector ProFund* | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 269,906 | | | | (205,443 | ) | | | (4,595 | ) | | | 59,868 | |
| Swap Agreements — UBS AG | | | 277,903 | | | | (277,903 | ) | | | — | | | | — | |
| Pharmaceuticals UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 1,983 | | | | — | | | | — | | | | 1,983 | |
| Swap Agreements — UBS AG | | | (7,846 | ) | | | 7,846 | | | | — | | | | — | |
| Precious Metals UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | (121,513 | ) | | | 121,513 | | | | — | | | | — | |
| Swap Agreements — UBS AG | | | (168,879 | ) | | | 168,879 | | | | — | | | | — | |
| Real Estate UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 47,319 | | | | (10,607 | ) | | | — | | | | 36,712 | |
| Swap Agreements — UBS AG | | | 62,513 | | | | — | | | | — | | | | 62,513 | |
| Rising Rates Opportunity ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Citibank North America | | | (1,615 | ) | | | 1,615 | | | | — | | | | — | |
| Swap Agreements — Societe' Generale | | | (84,388 | ) | | | 84,388 | | | | — | | | | — | |
| Rising Rates Opportunity 10 ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Citibank North America | | | (829 | ) | | | 829 | | | | — | | | | — | |
| Swap Agreements — Societe' Generale | | | (12,137 | ) | | | 12,137 | | | | — | | | | — | |
| Rising U.S. Dollar ProFund | | | | | | | | | | | | | | | | |
| Forward Currency Contracts — Goldman Sachs International | | | | | | | | | | | | | | | | |
| Appreciation | | | 12,879 | | | | | | | | | | | | | |
| (Depreciation) | | | (127,598 | ) | | | | | | | | | | | | |
| Net Depreciation | | | (114,719 | ) | | | 114,719 | | | | — | | | | — | |
| Forward Currency Contracts — UBS AG | | | | | | | | | | | | | | | | |
| Appreciation | | | 12,141 | | | | | | | | | | | | | |
| (Depreciation) | | | (141,507 | ) | | | | | | | | | | | | |
| Net Depreciation | | | (129,366 | ) | | | 129,366 | | | | — | | | | — | |
| Semiconductor UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 11,968 | | | | — | | | | — | | | | 11,968 | |
| Swap Agreements — UBS AG | | | 12,413 | | | | (884 | ) | | | — | | | | 11,529 | |
| Short Energy ProFund* | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 8,895 | | | | — | | | | — | | | | 8,895 | |
| Swap Agreements — UBS AG | | | 2,306 | | | | — | | | | — | | | | 2,306 | |
| Short Nasdaq-100 ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | (3,624 | ) | | | 3,624 | | | | — | | | | — | |
| Swap Agreements — UBS AG | | | 18,095 | | | | — | | | | — | | | | 18,095 | |
| Short Precious Metals ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | (16,454 | ) | | | 16,454 | | | | — | | | | — | |
| Swap Agreements — UBS AG | | | (10,045 | ) | | | 10,045 | | | | — | | | | — | |
| Short Real Estate ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | (18,356 | ) | | | 18,356 | | | | — | | | | — | |
| Swap Agreements — UBS AG | | | (29,002 | ) | | | 29,002 | | | | — | | | | — | |
| Short Small-Cap ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | (8,600 | ) | | | 8,600 | | | | — | | | | — | |
| Swap Agreements — UBS AG | | | (12,992 | ) | | | 12,992 | | | | — | | | | — | |
| Small-Cap ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 12,213 | | | | — | | | | — | | | | 12,213 | |
| Swap Agreements — UBS AG | | | 2,580 | | | | — | | | | — | | | | 2,580 | |
| Technology UltraSector ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 150,244 | | | | — | | | | — | | | | 150,244 | |
| Swap Agreements — UBS AG | | | 144,644 | | | | (1,895 | ) | | | (275 | ) | | | 142,474 | |
| UltraBear ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | (15,260 | ) | | | 15,260 | | | | — | | | | — | |
| Swap Agreements — UBS AG | | | (5,745 | ) | | | 5,745 | | | | — | | | | — | |
294 :: Notes to Financial Statements :: January 31, 2023 (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 | |
| UltraBull ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | $ | 108,220 | | | $ | — | | | $ | — | | | $ | 108,220 | |
| Swap Agreements — UBS AG | | | 48,666 | | | | (1,962 | ) | | | — | | | | 46,704 | |
| UltraChina ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | (1,053,423 | ) | | | 1,053,423 | | | | — | | | | — | |
| Swap Agreements — UBS AG | | | (1,030,066 | ) | | | 1,030,066 | | | | — | | | | — | |
| UltraDow 30 ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 43,904 | | | | — | | | | — | | | | 43,904 | |
| Swap Agreements — UBS AG | | | 36,067 | | | | (995 | ) | | | — | | | | 35,072 | |
| UltraEmerging Markets ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | (135,358 | ) | | | 135,358 | | | | — | | | | — | |
| Swap Agreements — UBS AG | | | (134,051 | ) | | | 134,051 | | | | — | | | | — | |
| UltraInternational ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | (10,239 | ) | | | 10,239 | | | | — | | | | — | |
| Swap Agreements — UBS AG | | | (6,945 | ) | | | 6,945 | | | | — | | | | — | |
| UltraJapan ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 225 | | | | — | | | | — | | | | 225 | |
| UltraLatin America ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 80,028 | | | | — | | | | — | | | | 80,028 | |
| Swap Agreements — UBS AG | | | 68,358 | | | | (952 | ) | | | — | | | | 67,406 | |
| UltraMid-Cap ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 407,872 | | | | — | | | | — | | | | 407,872 | |
| Swap Agreements — UBS AG | | | 250,112 | | | | (2,904 | ) | | | — | | | | 247,208 | |
| UltraNasdaq-100 ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 215,659 | | | | — | | | | — | | | | 215,659 | |
| Swap Agreements — Goldman Sachs International | | | (604,046 | ) | | | 604,046 | | | | — | | | | — | |
| Swap Agreements — UBS AG | | | (1,811,161 | ) | | | 1,811,161 | | | | — | | | | — | |
| UltraShort China ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 82,925 | | | | — | | | | — | | | | 82,925 | |
| Swap Agreements — UBS AG | | | 113,768 | | | | — | | | | — | | | | 113,768 | |
| UltraShort Dow 30 ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | (3,163 | ) | | | 3,163 | | | | — | | | | — | |
| Swap Agreements — UBS AG | | | (13,376 | ) | | | 13,376 | | | | — | | | | — | |
| UltraShort Emerging Markets ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 10,926 | | | | — | | | | — | | | | 10,926 | |
| Swap Agreements — UBS AG | | | 13,150 | | | | — | | | | — | | | | 13,150 | |
| UltraShort International ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 1,129 | | | | — | | | | — | | | | 1,129 | |
| Swap Agreements — UBS AG | | | (2,094 | ) | | | 2,094 | | | | — | | | | — | |
| UltraShort Japan ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | (468 | ) | | | — | | | | — | | | | (468 | ) |
| UltraShort Latin America ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | (12,422 | ) | | | 12,422 | | | | — | | | | — | |
| Swap Agreements — UBS AG | | | (5,131 | ) | | | 5,131 | | | | — | | | | — | |
| UltraShort Mid-Cap ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 3,237 | | | | — | | | | — | | | | 3,237 | |
| Swap Agreements — UBS AG | | | (16,480 | ) | | | 16,480 | | | | — | | | | — | |
| UltraShort Nasdaq-100 ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 127,175 | | | | (127,175 | ) | | | — | | | | — | |
| Swap Agreements — UBS AG | | | 94,581 | | | | (94,581 | ) | | | — | | | | — | |
| UltraShort Small-Cap ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 42,445 | | | | (42,445 | ) | | | — | | | | — | |
| Swap Agreements — UBS AG | | | (43,607 | ) | | | 43,607 | | | | — | | | | — | |
| UltraSmall-Cap ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Goldman Sachs International | | | 899,374 | | | | (729 | ) | | | — | | | | 898,645 | |
| Swap Agreements — UBS AG | | | 218,477 | | | | — | | | | — | | | | 218,477 | |
| U.S. Government Plus ProFund | | | | | | | | | | | | | | | | |
| Swap Agreements — Citibank North America | | | 59,288 | | | | — | | | | — | | | | 59,288 | |
| Swap Agreements — Societe' Generale | | | 28,666 | | | | — | | | | — | | | | 28,666 | |
January 31, 2023 (unaudited) :: Notes to Financial Statements :: 295
| | | 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 | | $ | (5,476 | ) | | $ | 5,476 | | | $ | — | | | $ | — | |
| Swap Agreements — UBS AG | | | (7,621 | ) | | | 7,621 | | | | — | | | | — | |
| ** | 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. |
| *** | The ProFund does not have effective control of the collateral, therefore the financial instruments and cash collateral received are not disclosed on the Statement of Assets and Liabilities. |
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, 2023:
| | | Value of
Securities on
Loan | | | Value of
Cash
Collateral
Received** | |
| Biotechnology UltraSector ProFund | | $ | 240,605 | | | $ | 239,232 | |
| Bull ProFund | | | 4,791 | | | | 4,804 | |
| Consumer Discretionary UltraSector ProFund* | | | 104,089 | | | | 104,643 | |
| Consumer Staples UltraSector ProFund* | | | 16,944 | | | | 16,620 | |
| Energy UltraSector ProFund* | | | 209,602 | | | | 212,696 | |
| Europe 30 ProFund | | | 497,594 | | | | 513,713 | |
| Financials UltraSector ProFund | | | 13,590 | | | | 13,552 | |
| Health Care UltraSector ProFund | | | 6,925 | | | | 6,877 | |
| Industrials UltraSector ProFund | | | 5,122 | | | | 5,006 | |
| Large-Cap Value ProFund | | | 319 | | | | 320 | |
296 :: Notes to Financial Statements :: January 31, 2023 (unaudited)
| | | Value of
Securities on
Loan | | | Value of
Cash
Collateral
Received** | |
| Materials UltraSector ProFund* | | $ | 23,398 | | | $ | 22,671 | |
| Mid-Cap ProFund | | | 71,216 | | | | 70,397 | |
| Mid-Cap Value ProFund | | | 173,782 | | | | 171,810 | |
| Nasdaq-100 ProFund | | | 242,966 | | | | 243,474 | |
| Pharmaceuticals UltraSector ProFund | | | 20,831 | | | | 20,968 | |
| Precious Metals UltraSector ProFund | | | 1,550,949 | | | | 1,613,841 | |
| Semiconductor UltraSector ProFund | | | 94,611 | | | | 93,765 | |
| Small-Cap Growth ProFund | | | 733 | | | | 780 | |
| Small-Cap ProFund | | | 16,172 | | | | 16,510 | |
| Small-Cap Value ProFund | | | 67,981 | | | | 69,204 | |
| Technology UltraSector ProFund | | | 55,265 | | | | 54,030 | |
| UltraBull ProFund | | | 14,693 | | | | 14,732 | |
| UltraChina ProFund | | | 1,247,460 | | | | 1,298,810 | |
| UltraEmerging Markets ProFund | | | 411,732 | | | | 456,350 | |
| UltraLatin America ProFund | | | 945,382 | | | | 984,950 | |
| UltraMid-Cap ProFund | | | 327,380 | | | | 327,118 | |
| UltraNasdaq-100 ProFund | | | 2,497,534 | | | | 2,503,593 | |
| ** | 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. Amounts shown here reflect the current market value of securities and may be greater than or less than the value of cash originally received as collateral. |
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. Gains or losses from class action settlements are recorded when such information becomes known or can be reasonably estimated; for non-recurring class action settlements, this generally occurs with the receipt or payment of cash consistent with the terms of such settlement.
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.
Distributions to Shareholders
Each of the ProFunds (except Access Flex High Yield ProFund, Bitcoin Strategy ProFund, Real Estate UltraSector ProFund, Short Bitcoin Strategy ProFund and U.S. Government Plus ProFund) intends to declare and distribute net investment income at least annually, if any. Access Flex High Yield ProFund, and Real Estate UltraSector ProFund declare and pay dividends from net investment income quarterly, if any. Bitcoin Strategy ProFund, and Short Bitcoin Strategy ProFund intend to declare and distribute net investment income monthly, if any, and 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., return of capital, 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 and mark-to-market on derivative instruments) 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. Distributions which exceed net investment income and net realized capital gains for financial reporting purposes but not for tax purposes are reported as distributions in excess of net investment income or net realized gains. 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.
January 31, 2023 (unaudited) :: Notes to Financial Statements :: 297
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."
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 market 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 non-money market ProFund, except as otherwise noted, 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 a 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 market 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 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 in good faith establish a fair value for that security in accordance with procedures established by and under the general supervision and responsibility of the Trust's Board of Trustees. 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.
298 :: Notes to Financial Statements :: January 31, 2023 (unaudited)
For the period ended January 31, 2023, there were no Level 3 investments for which significant unobservable inputs were used to determine fair value, nor were there any transfers in or out of Level 3 investments for the period.
A summary of the valuations as of January 31, 2023, 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^ | |
| Access Flex Bear High Yield ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 1,624,000 | | | $ | — | | | $ | 1,624,000 | | | $ | — | |
| Futures Contracts | | | — | | | | — | | | | — | | | | (18,730 | ) | | | — | | | | (18,730 | ) |
| Credit Default Swap Agreements | | | — | | | | — | | | | — | | | | (154,740 | ) | | | — | | | | (154,740 | ) |
| Total | | $ | — | | | $ | — | | | $ | 1,624,000 | | | $ | (173,470 | ) | | $ | 1,624,000 | | | $ | (173,470 | ) |
| Access Flex High Yield ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| U.S. Treasury Obligation | | $ | — | | | $ | — | | | $ | 16,640,203 | | | $ | — | | | $ | 16,640,203 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 8,431,000 | | | | — | | | | 8,431,000 | | | | — | |
| Futures Contracts | | | — | | | | — | | | | — | | | | 29,182 | | | | — | | | | 29,182 | |
| Credit Default Swap Agreements | | | — | | | | — | | | | — | | | | 1,013,930 | | | | — | | | | 1,013,930 | |
| Total | | $ | — | | | $ | — | | | $ | 25,071,203 | | | $ | 1,043,112 | | | $ | 25,071,203 | | | $ | 1,043,112 | |
| Banks UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 6,486,099 | | | $ | — | | | $ | — | | | $ | — | | | $ | 6,486,099 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 1,743,000 | | | | — | | | | 1,743,000 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 150,410 | | | | — | | | | 150,410 | |
| Total | | $ | 6,486,099 | | | $ | — | | | $ | 1,743,000 | | | $ | 150,410 | | | $ | 8,229,099 | | | $ | 150,410 | |
| Bear ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 13,019,000 | | | $ | — | | | $ | 13,019,000 | | | $ | — | |
| Futures Contracts | | | — | | | | (54,917 | ) | | | — | | | | — | | | | — | | | | (54,917 | ) |
| Swap Agreements | | | — | | | | — | | | | — | | | | (24,752 | ) | | | — | | | | (24,752 | ) |
| Total | | $ | — | | | $ | (54,917 | ) | | $ | 13,019,000 | | | $ | (24,752 | ) | | $ | 13,019,000 | | | $ | (79,669 | ) |
| Biotechnology UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 98,543,691 | | | $ | — | | | $ | — | | | $ | — | | | $ | 98,543,691 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 24,756,000 | | | | — | | | | 24,756,000 | | | | — | |
| Collateral for Securities Loaned | | | 239,232 | | | | — | | | | — | | | | — | | | | 239,232 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (1,135,725 | ) | | | — | | | | (1,135,725 | ) |
| Total | | $ | 98,782,923 | | | $ | — | | | $ | 24,756,000 | | | $ | (1,135,725 | ) | | $ | 123,538,923 | | | $ | (1,135,725 | ) |
| Bitcoin Strategy ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| U.S. Treasury Obligation | | $ | — | | | $ | — | | | $ | 13,974,951 | | | $ | — | | | $ | 13,974,951 | | | $ | — | |
| Futures Contracts | | | — | | | | 2,244,626 | | | | — | | | | — | | | | — | | | | 2,244,626 | |
| Total | | $ | — | | | $ | 2,244,626 | | | $ | 13,974,951 | | | $ | — | | | $ | 13,974,951 | | | $ | 2,244,626 | |
| Bull ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 25,374,131 | | | $ | — | | | $ | — | | | $ | — | | | $ | 25,374,131 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 10,316,000 | | | | — | | | | 10,316,000 | | | | — | |
| Collateral for Securities Loaned | | | 4,804 | | | | — | | | | — | | | | — | | | | 4,804 | | | | — | |
| Futures Contracts | | | — | | | | 91,434 | | | | — | | | | — | | | | — | | | | 91,434 | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 12,940 | | | | — | | | | 12,940 | |
| Total | | $ | 25,378,935 | | | $ | 91,434 | | | $ | 10,316,000 | | | $ | 12,940 | | | $ | 35,694,935 | | | $ | 104,374 | |
| Communication Services UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 2,858,121 | | | $ | — | | | $ | — | | | $ | — | | | $ | 2,858,121 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 1,236,000 | | | | — | | | | 1,236,000 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 54,822 | | | | — | | | | 54,822 | |
| Total | | $ | 2,858,121 | | | $ | — | | | $ | 1,236,000 | | | $ | 54,822 | | | $ | 4,094,121 | | | $ | 54,822 | |
| Consumer Discretionary UltraSector ProFund* | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 22,408,844 | | | $ | — | | | $ | — | | | $ | — | | | $ | 22,408,844 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 5,923,000 | | | | — | | | | 5,923,000 | | | | — | |
| Collateral for Securities Loaned | | | 104,643 | | | | — | | | | — | | | | — | | | | 104,643 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 497,412 | | | | — | | | | 497,412 | |
| Total | | $ | 22,513,487 | | | $ | — | | | $ | 5,923,000 | | | $ | 497,412 | | | $ | 28,436,487 | | | $ | 497,412 | |
January 31, 2023 (unaudited) :: Notes to Financial Statements :: 299
| | | 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^ | |
| Consumer Staples UltraSector ProFund* | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 2,721,172 | | | $ | — | | | $ | — | | | $ | — | | | $ | 2,721,172 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 725,000 | | | | — | | | | 725,000 | | | | — | |
| Collateral for Securities Loaned | | | 16,620 | | | | — | | | | — | | | | — | | | | 16,620 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 92,362 | | | | — | | | | 92,362 | |
| Total | | $ | 2,737,792 | | | $ | — | | | $ | 725,000 | | | $ | 92,362 | | | $ | 3,462,792 | | | $ | 92,362 | |
| Energy UltraSector ProFund* | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 42,849,880 | | | $ | — | | | $ | — | | | $ | — | | | $ | 42,849,880 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 11,876,000 | | | | — | | | | 11,876,000 | | | | — | |
| Collateral for Securities Loaned | | | 212,696 | | | | — | | | | — | | | | — | | | | 212,696 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (275,229 | ) | | | — | | | | (275,229 | ) |
| Total | | $ | 43,062,576 | | | $ | — | | | $ | 11,876,000 | | | $ | (275,229 | ) | | $ | 54,938,576 | | | $ | (275,229 | ) |
| Europe 30 ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 2,600,850 | | | $ | — | | | $ | — | | | $ | — | | | $ | 2,600,850 | | | $ | — | |
| Collateral for Securities Loaned | | | 513,713 | | | | — | | | | — | | | | — | | | | 513,713 | | | | — | |
| Total | | $ | 3,114,563 | | | $ | — | | | $ | — | | | $ | — | | | $ | 3,114,563 | | | $ | — | |
| Falling U.S. Dollar ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 3,054,000 | | | $ | — | | | $ | 3,054,000 | | | $ | — | |
| Forward Currency Contracts | | | — | | | | — | | | | — | | | | 30,709 | | | | — | | | | 30,709 | |
| Total | | $ | — | | | $ | — | �� | | $ | 3,054,000 | | | $ | 30,709 | | | $ | 3,054,000 | | | $ | 30,709 | |
| Financials UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 4,185,010 | | | $ | — | | | $ | — | | | $ | — | | | $ | 4,185,010 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 1,069,000 | | | | — | | | | 1,069,000 | | | | — | |
| Collateral for Securities Loaned | | | 13,552 | | | | — | | | | — | | | | — | | | | 13,552 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 84,913 | | | | — | | | | 84,913 | |
| Total | | $ | 4,198,562 | | | $ | — | | | $ | 1,069,000 | | | $ | 84,913 | | | $ | 5,267,562 | | | $ | 84,913 | |
| Health Care UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 13,166,085 | | | $ | — | | | $ | — | | | $ | — | | | $ | 13,166,085 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 4,457,000 | | | | — | | | | 4,457,000 | | | | — | |
| Collateral for Securities Loaned | | | 6,877 | | | | — | | | | — | | | | — | | | | 6,877 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (103,187 | ) | | | — | | | | (103,187 | ) |
| Total | | $ | 13,172,962 | | | $ | — | | | $ | 4,457,000 | | | $ | (103,187 | ) | | $ | 17,629,962 | | | $ | (103,187 | ) |
| Industrials UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 3,179,763 | | | $ | — | | | $ | — | | | $ | — | | | $ | 3,179,763 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 788,000 | | | | — | | | | 788,000 | | | | — | |
| Collateral for Securities Loaned | | | 5,006 | | | | — | | | | — | | | | — | | | | 5,006 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 40,744 | | | | — | | | | 40,744 | |
| Total | | $ | 3,184,769 | | | $ | — | | | $ | 788,000 | | | $ | 40,744 | | | $ | 3,972,769 | | | $ | 40,744 | |
| Internet UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 54,228,495 | | | $ | — | | | $ | — | | | $ | — | | | $ | 54,228,495 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 15,493,000 | | | | — | | | | 15,493,000 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 1,226,744 | | | | — | | | | 1,226,744 | |
| Total | | $ | 54,228,495 | | | $ | — | | | $ | 15,493,000 | | | $ | 1,226,744 | | | $ | 69,721,495 | | | $ | 1,226,744 | |
| Large-Cap Growth ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 9,527,721 | | | $ | — | | | $ | — | | | $ | — | | | $ | 9,527,721 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 8,000 | | | | — | | | | 8,000 | | | | — | |
| Total | | $ | 9,527,721 | | | $ | — | | | $ | 8,000 | | | $ | — | | | $ | 9,535,721 | | | $ | — | |
| Large-Cap Value ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 11,545,223 | | | $ | — | | | $ | — | | | $ | — | | | $ | 11,545,223 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 85,000 | | | | — | | | | 85,000 | | | | — | |
| Collateral for Securities Loaned | | | 320 | | | | — | | | | — | | | | — | | | | 320 | | | | — | |
| Total | | $ | 11,545,543 | | | $ | — | | | $ | 85,000 | | | $ | — | | | $ | 11,630,543 | | | $ | — | |
300 :: Notes to Financial Statements :: January 31, 2023 (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^ | |
| Materials UltraSector ProFund* | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 4,442,498 | | | $ | — | | | $ | — | | | $ | — | | | $ | 4,442,498 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 1,626,000 | | | | — | | | | 1,626,000 | | | | — | |
| Collateral for Securities Loaned | | | 22,671 | | | | — | | | | — | | | | — | | | | 22,671 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 106,613 | | | | — | | | | 106,613 | |
| Total | | $ | 4,465,169 | | | $ | — | | | $ | 1,626,000 | | | $ | 106,613 | | | $ | 6,091,169 | | | $ | 106,613 | |
| Mid-Cap Growth ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 3,443,539 | | | $ | — | | | $ | — | | | $ | — | | | $ | 3,443,539 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 13,000 | | | | — | | | | 13,000 | | | | — | |
| Total | | $ | 3,443,539 | | | $ | — | | | $ | 13,000 | | | $ | — | | | $ | 3,456,539 | | | $ | — | |
| Mid-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 10,715,604 | | | $ | — | | | $ | — | | | $ | — | | | $ | 10,715,604 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 2,702,000 | | | | — | | | | 2,702,000 | | | | — | |
| Collateral for Securities Loaned | | | 70,397 | | | | — | | | | — | | | | — | | | | 70,397 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 32,730 | | | | — | | | | 32,730 | |
| Total | | $ | 10,786,001 | | | $ | — | | | $ | 2,702,000 | | | $ | 32,730 | | | $ | 13,488,001 | | | $ | 32,730 | |
| Mid-Cap Value ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 12,889,830 | | | $ | — | | | $ | — | | | $ | — | | | $ | 12,889,830 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 78,000 | | | | — | | | | 78,000 | | | | — | |
| Collateral for Securities Loaned | | | 171,810 | | | | — | | | | — | | | | — | | | | 171,810 | | | | — | |
| Total | | $ | 13,061,640 | | | $ | — | | | $ | 78,000 | | | $ | — | | | $ | 13,139,640 | | | $ | — | |
| Nasdaq-100 ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 37,607,381 | | | $ | — | | | $ | — | | | $ | — | | | $ | 37,607,381 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 91,371,000 | | | | — | | | | 91,371,000 | | | | — | |
| Collateral for Securities Loaned | | | 243,474 | | | | — | | | | — | | | | — | | | | 243,474 | | | | — | |
| Futures Contracts | | | — | | | | 117,927 | | | | — | | | | — | | | | — | | | | 117,927 | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 631,994 | | | | — | | | | 631,994 | |
| Total | | $ | 37,850,855 | | | $ | 117,927 | | | $ | 91,371,000 | | | $ | 631,994 | | | $ | 129,221,855 | | | $ | 749,921 | |
| Oil & Gas Equipment & Services UltraSector ProFund* | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 16,720,054 | | | $ | — | | | $ | — | | | $ | — | | | $ | 16,720,054 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 3,206,000 | | | | — | | | | 3,206,000 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 547,809 | | | | — | | | | 547,809 | |
| Total | | $ | 16,720,054 | | | $ | — | | | $ | 3,206,000 | | | $ | 547,809 | | | $ | 19,926,054 | | | $ | 547,809 | |
| Pharmaceuticals UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 2,967,075 | | | $ | — | | | $ | — | | | $ | — | | | $ | 2,967,075 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 1,428,000 | | | | — | | | | 1,428,000 | | | | — | |
| Collateral for Securities Loaned | | | 20,968 | | | | — | | | | — | | | | — | | | | 20,968 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (5,863 | ) | | | — | | | | (5,863 | ) |
| Total | | $ | 2,988,043 | | | $ | — | | | $ | 1,428,000 | | | $ | (5,863 | ) | | $ | 4,416,043 | | | $ | (5,863 | ) |
| Precious Metals UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 18,830,208 | | | $ | — | | | $ | — | | | $ | — | | | $ | 18,830,208 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 6,613,000 | | | | — | | | | 6,613,000 | | | | — | |
| Collateral for Securities Loaned | | | 1,613,841 | | | | — | | | | — | | | | — | | | | 1,613,841 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (290,392 | ) | | | — | | | | (290,392 | ) |
| Total | | $ | 20,444,049 | | | $ | — | | | $ | 6,613,000 | | | $ | (290,392 | ) | | $ | 27,057,049 | | | $ | (290,392 | ) |
| Real Estate UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 4,314,787 | | | $ | — | | | $ | — | | | $ | — | | | $ | 4,314,787 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 1,067,000 | | | | — | | | | 1,067,000 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 109,832 | | | | — | | | | 109,832 | |
| Total | | $ | 4,314,787 | | | $ | — | | | $ | 1,067,000 | | | $ | 109,832 | | | $ | 5,381,787 | | | $ | 109,832 | |
January 31, 2023 (unaudited) :: Notes to Financial Statements :: 301
| | | 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 Rates Opportunity ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 16,889,000 | | | $ | — | | | $ | 16,889,000 | | | $ | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (86,003 | ) | | | — | | | | (86,003 | ) |
| Total | | $ | — | | | $ | — | | | $ | 16,889,000 | | | $ | (86,003 | ) | | $ | 16,889,000 | | | $ | (86,003 | ) |
| Rising Rates Opportunity 10 ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 3,100,000 | | | $ | — | | | $ | 3,100,000 | | | $ | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (12,966 | ) | | | — | | | | (12,966 | ) |
| Total | | $ | — | | | $ | — | | | $ | 3,100,000 | | | $ | (12,966 | ) | | $ | 3,100,000 | | | $ | (12,966 | ) |
| Rising U.S. Dollar ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 17,813,000 | | | $ | — | | | $ | 17,813,000 | | | $ | — | |
| Forward Currency Contracts | | | — | | | | — | | | | — | | | | (244,085 | ) | | | — | | | | (244,085 | ) |
| Total | | $ | — | | | $ | — | | | $ | 17,813,000 | | | $ | (244,085 | ) | | $ | 17,813,000 | | | $ | (244,085 | ) |
| Semiconductor UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 48,173,976 | | | $ | — | | | $ | — | | | $ | — | | | $ | 48,173,976 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 22,506,000 | | | | — | | | | 22,506,000 | | | | — | |
| Collateral for Securities Loaned | | | 93,765 | | | | — | | | | — | | | | — | | | | 93,765 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 24,381 | | | | — | | | | 24,381 | |
| Total | | $ | 48,267,741 | | | $ | — | | | $ | 22,506,000 | | | $ | 24,381 | | | $ | 70,773,741 | | | $ | 24,381 | |
| Short Bitcoin Strategy ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| U.S. Treasury Obligation | | $ | — | | | $ | — | | | $ | 199,642 | | | $ | — | | | $ | 199,642 | | | $ | — | |
| Futures Contracts | | | — | | | | 283 | | | | — | | | | — | | | | — | | | | 283 | |
| Total | | $ | — | | | $ | 283 | | | $ | 199,642 | | | $ | — | | | $ | 199,642 | | | $ | 283 | |
| Short Energy ProFund* | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 1,423,000 | | | $ | — | | | $ | 1,423,000 | | | $ | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 11,201 | | | | — | | | | 11,201 | |
| Total | | $ | — | | | $ | — | | | $ | 1,423,000 | | | $ | 11,201 | | | $ | 1,423,000 | | | $ | 11,201 | |
| Short Nasdaq-100 ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 8,301,000 | | | $ | — | | | $ | 8,301,000 | | | $ | — | |
| Futures Contracts | | | — | | | | (42,120 | ) | | | — | | | | — | | | | — | | | | (42,120 | ) |
| Swap Agreements | | | — | | | | — | | | | — | | | | 14,471 | | | | — | | | | 14,471 | |
| Total | | $ | — | | | $ | (42,120 | ) | | $ | 8,301,000 | | | $ | 14,471 | | | $ | 8,301,000 | | | $ | (27,649 | ) |
| Short Precious Metals ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 4,065,000 | | | $ | — | | | $ | 4,065,000 | | | $ | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (26,499 | ) | | | — | | | | (26,499 | ) |
| Total | | $ | — | | | $ | — | | | $ | 4,065,000 | | | $ | (26,499 | ) | | $ | 4,065,000 | | | $ | (26,499 | ) |
| Short Real Estate ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 1,680,000 | | | $ | — | | | $ | 1,680,000 | | | $ | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (47,358 | ) | | | — | | | | (47,358 | ) |
| Total | | $ | — | | | $ | — | | | $ | 1,680,000 | | | $ | (47,358 | ) | | $ | 1,680,000 | | | $ | (47,358 | ) |
| Short Small-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 2,097,000 | | | $ | — | | | $ | 2,097,000 | | | $ | — | |
| Futures Contracts | | | — | | | | (11,738 | ) | | | — | | | | — | | | | — | | | | (11,738 | ) |
| Swap Agreements | | | — | | | | — | | | | — | | | | (21,592 | ) | | | — | | | | (21,592 | ) |
| Total | | $ | — | | | $ | (11,738 | ) | | $ | 2,097,000 | | | $ | (21,592 | ) | | $ | 2,097,000 | | | $ | (33,330 | ) |
| Small-Cap Growth ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 4,321,530 | | | $ | — | | | $ | — | | | $ | — | | | $ | 4,321,530 | | | $ | — | |
| Collateral for Securities Loaned | | | 780 | | | | — | | | | — | | | | — | | | | 780 | | | | — | |
| Total | | $ | 4,322,310 | | | $ | — | | | $ | — | | | $ | — | | | $ | 4,322,310 | | | $ | — | |
302 :: Notes to Financial Statements :: January 31, 2023 (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^ | |
| Small-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 1,879,172 | | | $ | — | | | $ | — | | | $ | — | | | $ | 1,879,172 | | | $ | — | |
| Right | | | — | | | | — | | | | 27 | | | | — | | | | 27 | | | | — | |
| Trust** | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| Repurchase Agreements | | | — | | | | — | | | | 1,276,000 | | | | — | | | | 1,276,000 | | | | — | |
| Collateral for Securities Loaned | | | 16,510 | | | | — | | | | — | | | | — | | | | 16,510 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 14,793 | | | | — | | | | 14,793 | |
| Total | | $ | 1,895,682 | | | $ | — | | | $ | 1,276,027 | | | $ | 14,793 | | | $ | 3,171,709 | | | $ | 14,793 | |
| Small-Cap Value ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 7,517,832 | | | $ | — | | | $ | — | | | $ | — | | | $ | 7,517,832 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 88,000 | | | | — | | | | 88,000 | | | | — | |
| Collateral for Securities Loaned | | | 69,204 | | | | — | | | | — | | | | — | | | | 69,204 | | | | — | |
| Total | | $ | 7,587,036 | | | $ | — | | | $ | 88,000 | | | $ | — | | | $ | 7,675,036 | | | $ | — | |
| Technology UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 28,419,639 | | | $ | — | | | $ | — | | | $ | — | | | $ | 28,419,639 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 7,925,000 | | | | — | | | | 7,925,000 | | | | — | |
| Collateral for Securities Loaned | | | 54,030 | | | | — | | | | — | | | | — | | | | 54,030 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 294,888 | | | | — | | | | 294,888 | |
| Total | | $ | 28,473,669 | | | $ | — | | | $ | 7,925,000 | | | $ | 294,888 | | | $ | 36,398,669 | | | $ | 294,888 | |
| Telecommunications UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Cash and segregated cash balances | | $ | 531,361 | | | $ | — | | | $ | — | | | $ | — | | | $ | 531,361 | | | $ | — | |
| Total | | $ | 531,361 | | | $ | — | | | $ | — | | | $ | — | | | $ | 531,361 | | | $ | — | |
| UltraBear ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 10,540,000 | | | $ | — | | | $ | 10,540,000 | | | $ | — | |
| Futures Contracts | | | — | | | | (18,305 | ) | | | — | | | | — | | | | — | | | | (18,305 | ) |
| Swap Agreements | | | — | | | | — | | | | — | | | | (21,005 | ) | | | — | | | | (21,005 | ) |
| Total | | $ | — | | | $ | (18,305 | ) | | $ | 10,540,000 | | | $ | (21,005 | ) | | $ | 10,540,000 | | | $ | (39,310 | ) |
| UltraBull ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 78,195,604 | | | $ | — | | | $ | — | | | $ | — | | | $ | 78,195,604 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 37,851,000 | | | | — | | | | 37,851,000 | | | | — | |
| Collateral for Securities Loaned | | | 14,732 | | | | — | | | | — | | | | — | | | | 14,732 | | | | — | |
| Futures Contracts | | | — | | | | 128,007 | | | | — | | | | — | | | | — | | | | 128,007 | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 156,886 | | | | — | | | | 156,886 | |
| Total | | $ | 78,210,336 | | | $ | 128,007 | | | $ | 37,851,000 | | | $ | 156,886 | | | $ | 116,061,336 | | | $ | 284,893 | |
| UltraChina ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 30,465,264 | | | $ | — | | | $ | — | | | $ | — | | | $ | 30,465,264 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 7,441,000 | | | | — | | | | 7,441,000 | | | | — | |
| Collateral for Securities Loaned | | | 1,298,810 | | | | — | | | | — | | | | — | | | | 1,298,810 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (2,083,489 | ) | | | — | | | | (2,083,489 | ) |
| Total | | $ | 31,764,074 | | | $ | — | | | $ | 7,441,000 | | | $ | (2,083,489 | ) | | $ | 39,205,074 | | | $ | (2,083,489 | ) |
| UltraDow 30 ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 23,299,473 | | | $ | — | | | $ | — | | | $ | — | | | $ | 23,299,473 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 6,336,000 | | | | — | | | | 6,336,000 | | | | �� | |
| Futures Contracts | | | — | | | | 45,189 | | | | — | | | | — | | | | — | | | | 45,189 | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 79,971 | | | | — | | | | 79,971 | |
| Total | | $ | 23,299,473 | | | $ | 45,189 | | | $ | 6,336,000 | | | $ | 79,971 | | | $ | 29,635,473 | | | $ | 125,160 | |
| UltraEmerging Markets ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 9,139,724 | | | $ | — | | | $ | — | | | $ | — | | | $ | 9,139,724 | | | $ | — | |
| Preferred Stock | | | 152,726 | | | | — | | | | — | | | | — | | | | 152,726 | | | | — | |
| Repurchase Agreements | | | — | | | | — | | | | 1,734,000 | | | | — | | | | 1,734,000 | | | | — | |
| Collateral for Securities Loaned | | | 456,350 | | | | — | | | | — | | | | — | | | | 456,350 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (269,409 | ) | | | — | | | | (269,409 | ) |
| Total | | $ | 9,748,800 | | | $ | — | | | $ | 1,734,000 | | | $ | (269,409 | ) | | $ | 11,482,800 | | | $ | (269,409 | ) |
January 31, 2023 (unaudited) :: Notes to Financial Statements :: 303
| | | 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^ | |
| UltraInternational ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 6,967,000 | | | $ | — | | | $ | 6,967,000 | | | $ | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (17,184 | ) | | | — | | | | (17,184 | ) |
| Total | | $ | — | | | $ | — | | | $ | 6,967,000 | | | $ | (17,184 | ) | | $ | 6,967,000 | | | $ | (17,184 | ) |
| UltraJapan ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 11,101,000 | | | $ | — | | | $ | 11,101,000 | | | $ | — | |
| Futures Contracts | | | — | | | | 73,084 | | | | — | | | | — | | | | — | | | | 73,084 | |
| Swap Agreement | | | — | | | | — | | | | — | | | | 225 | | | | — | | | | 225 | |
| Total | | $ | — | | | $ | 73,084 | | | $ | 11,101,000 | | | $ | 225 | | | $ | 11,101,000 | | | $ | 73,309 | |
| UltraLatin America ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 9,433,648 | | | $ | — | | | $ | — | | | $ | — | | | $ | 9,433,648 | | | $ | — | |
| Preferred Stock | | | 681,884 | | | | — | | | | — | | | | — | | | | 681,884 | | | | — | |
| Repurchase Agreements | | | — | | | | — | | | | 1,463,000 | | | | — | | | | 1,463,000 | | | | — | |
| Collateral for Securities Loaned | | | 984,950 | | | | — | | | | — | | | | — | | | | 984,950 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 148,386 | | | | — | | | | 148,386 | |
| Total | | $ | 11,100,482 | | | $ | — | | | $ | 1,463,000 | | | $ | 148,386 | | | $ | 12,563,482 | | | $ | 148,386 | |
| UltraMid-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 33,467,632 | | | $ | — | | | $ | — | | | $ | — | | | $ | 33,467,632 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 13,567,000 | | | | — | | | | 13,567,000 | | | | — | |
| Collateral for Securities Loaned | | | 327,118 | | | | — | | | | — | | | | — | | | | 327,118 | | | | — | |
| Futures Contracts | | | — | | | | 341,257 | | | | — | | | | — | | | | — | | | | 341,257 | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 657,984 | | | | — | | | | 657,984 | |
| Total | | $ | 33,794,750 | | | $ | 341,257 | | | $ | 13,567,000 | | | $ | 657,984 | | | $ | 47,361,750 | | | $ | 999,241 | |
| UltraNasdaq-100 ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 328,040,749 | | | $ | — | | | $ | — | | | $ | — | | | $ | 328,040,749 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 187,080,000 | | | | — | | | | 187,080,000 | | | | — | |
| Collateral for Securities Loaned | | | 2,503,593 | | | | — | | | | — | | | | — | | | | 2,503,593 | | | | — | |
| Futures Contracts | | | — | | | | 3,452,710 | | | | — | | | | — | | | | — | | | | 3,452,710 | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (2,199,548 | ) | | | — | | | | (2,199,548 | ) |
| Total | | $ | 330,544,342 | | | $ | 3,452,710 | | | $ | 187,080,000 | | | $ | (2,199,548 | ) | | $ | 517,624,342 | | | $ | 1,253,162 | |
| UltraShort China ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 2,188,000 | | | $ | — | | | $ | 2,188,000 | | | $ | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 196,693 | | | | — | | | | 196,693 | |
| Total | | $ | — | | | $ | — | | | $ | 2,188,000 | | | $ | 196,693 | | | $ | 2,188,000 | | | $ | 196,693 | |
| UltraShort Dow 30 ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 2,784,000 | | | $ | — | | | $ | 2,784,000 | | | $ | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (16,539 | ) | | | — | | | | (16,539 | ) |
| Total | | $ | — | | | $ | — | | | $ | 2,784,000 | | | $ | (16,539 | ) | | $ | 2,784,000 | | | $ | (16,539 | ) |
| UltraShort Emerging Markets ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 616,000 | | | $ | — | | | $ | 616,000 | | | $ | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 24,076 | | | | — | | | | 24,076 | |
| Total | | $ | — | | | $ | — | | | $ | 616,000 | | | $ | 24,076 | | | $ | 616,000 | | | $ | 24,076 | |
| UltraShort International ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 2,348,000 | | | $ | — | | | $ | 2,348,000 | | | $ | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (965 | ) | | | — | | | | (965 | ) |
| Total | | $ | — | | | $ | — | | | $ | 2,348,000 | | | $ | (965 | ) | | $ | 2,348,000 | | | $ | (965 | ) |
| UltraShort Japan ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 259,000 | | | $ | — | | | $ | 259,000 | | | $ | — | |
| Futures Contracts | | | — | | | | (14,910 | ) | | | — | | | | — | | | | — | | | | (14,910 | ) |
| Swap Agreement | | | — | | | | — | | | | — | | | | (468 | ) | | | — | | | | (468 | ) |
| Total | | $ | — | | | $ | (14,910 | ) | | $ | 259,000 | | | $ | (468 | ) | | $ | 259,000 | | | $ | (15,378 | ) |
304 :: Notes to Financial Statements :: January 31, 2023 (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^ | |
| UltraShort Latin America ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 767,000 | | | $ | — | | | $ | 767,000 | | | $ | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (17,553 | ) | | | — | | | | (17,553 | ) |
| Total | | $ | — | | | $ | — | | | $ | 767,000 | | | $ | (17,553 | ) | | $ | 767,000 | | | $ | (17,553 | ) |
| UltraShort Mid-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 1,300,000 | | | $ | — | | | $ | 1,300,000 | | | $ | — | |
| Futures Contracts | | | — | | | | (16,746 | ) | | | — | | | | — | | | | — | | | | (16,746 | ) |
| Swap Agreements | | | — | | | | — | | | | — | | | | (13,243 | ) | | | — | | | | (13,243 | ) |
| Total | | $ | — | | | $ | (16,746 | ) | | $ | 1,300,000 | | | $ | (13,243 | ) | | $ | 1,300,000 | | | $ | (29,989 | ) |
| UltraShort Nasdaq-100 ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 20,426,000 | | | $ | — | | | $ | 20,426,000 | | | $ | — | |
| Futures Contracts | | | — | | | | (105,929 | ) | | | — | | | | — | | | | — | | | | (105,929 | ) |
| Swap Agreements | | | — | | | | — | | | | — | | | | 221,756 | | | | — | | | | 221,756 | |
| Total | | $ | — | | | $ | (105,929 | ) | | $ | 20,426,000 | | | $ | 221,756 | | | $ | 20,426,000 | | | $ | 115,827 | |
| UltraShort Small-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 4,820,000 | | | $ | — | | | $ | 4,820,000 | | | $ | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (1,162 | ) | | | — | | | | (1,162 | ) |
| Total | | $ | — | | | $ | — | | | $ | 4,820,000 | | | $ | (1,162 | ) | | $ | 4,820,000 | | | $ | (1,162 | ) |
| UltraSmall-Cap ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 39,343,912 | | | $ | — | | | $ | — | | | $ | — | | | $ | 39,343,912 | | | $ | — | |
| Right | | | — | | | | — | | | | 866 | | | | — | | | | 866 | | | | — | |
| Trust** | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| Repurchase Agreements | | | — | | | | — | | | | 27,029,000 | | | | — | | | | 27,029,000 | | | | — | |
| Futures Contracts | | | — | | | | 392,994 | | | | — | | | | — | | | | — | | | | 392,994 | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 1,117,851 | | | | — | | | | 1,117,851 | |
| Total | | $ | 39,343,912 | | | $ | 392,994 | | | $ | 27,029,866 | | | $ | 1,117,851 | | | $ | 66,373,778 | | | $ | 1,510,845 | |
| U.S. Government Plus ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Repurchase Agreements | | $ | — | | | $ | — | | | $ | 11,736,000 | | | $ | — | | | $ | 11,736,000 | | | $ | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | 87,954 | | | | — | | | | 87,954 | |
| Total | | $ | — | | | $ | — | | | $ | 11,736,000 | | | $ | 87,954 | | | $ | 11,736,000 | | | $ | 87,954 | |
| Utilities UltraSector ProFund | | | | | | | | | | | | | | | | | | | | | | | | |
| Common Stocks | | $ | 6,582,663 | | | $ | — | | | $ | — | | | $ | — | | | $ | 6,582,663 | | | $ | — | |
| Repurchase Agreements | | | — | | | | — | | | | 1,425,000 | | | | — | | | | 1,425,000 | | | | — | |
| Swap Agreements | | | — | | | | — | | | | — | | | | (13,097 | ) | | | — | | | | (13,097 | ) |
| Total | | $ | 6,582,663 | | | $ | — | | | $ | 1,425,000 | | | $ | (13,097 | ) | | $ | 8,007,663 | | | $ | (13,097 | ) |
| ^ | Other financial instruments include any derivative instruments not reflected in the Schedule of Portfolio Investments as Investment Securities, such as futures contracts, forward currency contracts and swap agreements (including credit default swap agreements). These instruments are generally recorded in the financial statements at the unrealized appreciation/(depreciation) on the investment. |
| ** | Ferroglobe Representation and Warranty Insurance trust was valued 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 Bitcoin Strategy ProFund, Nasdaq-100 ProFund, Short Bitcoin Strategy 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 Bitcoin Strategy ProFund, Nasdaq-100 ProFund, Short Bitcoin Strategy ProFund, UltraJapan ProFund, UltraShort Japan ProFund and U.S. Government Plus ProFund pay the Advisor a fee at an annualized rate of 0.45%, 0.70%, 0.45%, 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 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, 2023, no Fund's annual investment advisory fee was subject to such reductions.
January 31, 2023 (unaudited) :: Notes to Financial Statements :: 305
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 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 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.
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. In addition, the Digital Assets ProFunds may pay financial intermediaries such as broker-dealers, investment advisors and the Distributor up to 0.25%, on an annualized basis, of the average daily net assets attributable to Investor Class shares as compensation for service and distribution-related activities and/or shareholder services with respect to Investor Class shares. For the period ended January 31, 2023, the Digital Assets ProFunds did not make any payments under this plan.
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 their services at an annual rate of $325,000, inclusive of all meetings. During the period ended January 31, 2023, actual Trustee compensation was $487,500 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, 2022
through November 30, 2023 | | | For the Period March 1, 2021
through November 30, 2022 | |
| | | Investor
Class | | | Service
Class | | | Investor
Class | | | Service
Class | |
| Access Flex Bear High Yield ProFund** | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| Access Flex High Yield ProFund** | | | 1.95 | % | | | 2.95 | % | | | 1.78 | % | | | 2.78 | % |
| | | For the Period December 1, 2022
through November 30, 2023 | | | For the Period July 28, 2021
through November 30, 2022 | |
| | | Investor Class | | | Investor Class | |
| Bitcoin Strategy ProFund*** | | | 1.10 | % | | | 0.84 | % |
| | | | | | | | | |
| | | For the Period December 1, 2022
through November 30, 2023 | | | For the Period December 1, 2021
through November 30, 2022 | |
| | | Investor
Class | | | Service
Class | | | Investor
Class | | | Service
Class | |
| Banks UltraSector ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| 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 | % | | | 1.78 | % | | | 2.78 | % |
306 :: Notes to Financial Statements :: January 31, 2023 (unaudited)
| | | For the Period December 1, 2022
through November 30, 2023 | | | For the Period December 1, 2021
through November 30, 2022 | |
| | | Investor
Class | | | Service
Class | | | Investor
Class | | | Service
Class | |
| Consumer Discretionary UltraSector ProFund* | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| Consumer Staples UltraSector ProFund* | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| Energy 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 | % | | | 1.78 | % | | | 2.78 | % |
| Health Care UltraSector ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| Industrials UltraSector ProFund | | | 1.78 | % | | | 2.78 | % | | | 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 | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| Materials UltraSector ProFund* | | | 1.78 | % | | | 2.78 | % | | | 1.95 | % | | | 2.95 | % |
| Mid-Cap Growth ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.95 | % | | | 2.95 | % |
| Mid-Cap ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| 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 Equipment & Services UltraSector ProFund* | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| Pharmaceuticals UltraSector ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| Precious Metals UltraSector ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| Real Estate UltraSector ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.78 | % | | | 2.78 | % |
| Rising Rates Opportunity ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.95 | % | | | 2.95 | % |
| Rising Rates Opportunity 10 ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| 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 Energy ProFund* | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| Short Nasdaq-100 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 Growth ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.95 | % | | | 2.95 | % |
| Small-Cap ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| 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 | % |
| 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 | | | 1.78 | % | | | 2.78 | % | | | 1.95 | % | | | 2.95 | % |
| UltraInternational ProFund | | | 1.78 | % | | | 2.78 | % | | | 1.78 | % | | | 2.78 | % |
| UltraJapan ProFund | | | 1.78 | % | | | 2.78 | % | | | 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 | % |
| U.S. Government Plus ProFund | | | 1.70 | % | | | 2.70 | % | | | 1.70 | % | | | 2.70 | % |
| Utilities UltraSector ProFund | | | 1.95 | % | | | 2.95 | % | | | 1.78 | % | | | 2.78 | % |
| ** | On April 23, 2022, Access Flex High Yield Fund and Access Flex Bear High Yield Fund reorganized into Access Flex High Yield ProFund and Access Flex Bear High Yield ProFund, respectively, through a plan of reorganization and termination that was approved by the Board of Trustees on December 10, 2020. The expense limitation for each Fund's Investor Class and Service Class Shares was 1.78% and 2.78% both before and after this reorganization. |
| *** | Bitcoin Strategy ProFund commenced operations on July 28, 2021. |
| ^ | Telecommunications UltraSector ProFund liquidated on February 7, 2023. |
January 31, 2023 (unaudited) :: Notes to Financial Statements :: 307
As of January 31, 2023, the Short Bitcoin Strategy ProFund does not have a contractual expense limitation.
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, 2023, the recoupments that may potentially be made by the ProFunds are as follows:
| | | Expires
2/28/23 | | | Expires
2/29/24 | | | Expires
11/30/24 | | | Expires
11/30/25 | | | Expires
11/30/26 | | | Total | |
| Access Flex Bear High Yield ProFund | | $ | 30,929 | | | $ | 42,649 | | | $ | 21,329 | | | $ | 6,007 | | | $ | 6,616 | | | $ | 107,530 | |
| Access Flex High Yield ProFund | | | — | | | | 68,776 | | | | — | | | | 830 | | | | — | | | | 69,606 | |
| | | Expires
11/30/23 | | | Expires
11/30/24 | | | Expires
11/30/25 | | | Expires
11/30/26 | | | Total | |
| Bear ProFund | | $ | — | | | $ | — | | | $ | — | | | $ | 1,654 | | | $ | 1,654 | |
| Bitcoin Strategy ProFund | | | — | | | | 37,042 | | | | 187,791 | | | | — | | | | 234,737 | |
| Communication Services UltraSector ProFund | | | 3,277 | | | | — | | | | 24,999 | | | | 2,597 | | | | 30,873 | |
| Consumer Staples UltraSector ProFund* | | | 15,495 | | | | 6,074 | | | | 18,957 | | | | 2,364 | | | | 42,890 | |
| Europe 30 ProFund | | | 20,637 | | | | 11,136 | | | | 25,872 | | | | 6,403 | | | | 64,048 | |
| Falling U.S. Dollar ProFund | | | 23,352 | | | | 29,759 | | | | 36,529 | | | | 11,673 | | | | 101,313 | |
| Financials UltraSector ProFund | | | — | | | | — | | | | 8,949 | | | | 1,261 | | | | 10,210 | |
| Industrials UltraSector ProFund | | | — | | | | — | | | | 26,733 | | | | 2,415 | | | | 29,148 | |
| Materials UltraSector ProFund* | | | — | | | | 9,063 | | | | 1,804 | | | | 1,790 | | | | 12,657 | |
| Mid-Cap Growth ProFund | | | — | | | | — | | | | 18,268 | | | | 3,555 | | | | 21,823 | |
| Mid-Cap ProFund | | | — | | | | — | | | | 16,737 | | | | 1,681 | | | | 18,418 | |
| Mid-Cap Value ProFund | | | 16,008 | | | | 3,488 | | | | 2,989 | | | | 3,574 | | | | 26,059 | |
| Pharmaceuticals UltraSector ProFund | | | 20,327 | | | | 17,673 | | | | 15,582 | | | | 4,069 | | | | 57,651 | |
| Real Estate UltraSector ProFund | | | 5,655 | | | | — | | | | — | | | | 1,769 | | | | 7,424 | |
| Rising Rates Opportunity 10 ProFund | | | 23,054 | | | | 18,160 | | | | 34,678 | | | | 3,833 | | | | 79,725 | |
| Short Energy ProFund* | | | 20,934 | | | | 40,063 | | | | 11,530 | | | | 9,606 | | | | 82,133 | |
| Short Nasdaq-100 ProFund | | | 1,652 | | | | 18,463 | | | | — | | | | 292 | | | | 20,407 | |
| Short Precious Metals ProFund | | | 37,670 | | | | 21,089 | | | | 27,994 | | | | 5,555 | | | | 92,308 | |
| Short Real Estate ProFund | | | 32,302 | | | | 33,162 | | | | 21,249 | | | | 4,019 | | | | 90,732 | |
| Short Small-Cap ProFund | | | 39,153 | | | | 30,226 | | | | 16,291 | | | | 4,597 | | | | 90,267 | |
| Small-Cap Growth ProFund | | | — | | | | — | | | | 2,985 | | | | 3,063 | | | | 6,048 | |
| Small-Cap ProFund | | | 23,176 | | | | 13,368 | | | | 31,358 | | | | 5,383 | | | | 73,285 | |
| Telecommunications UltraSector ProFund | | | 36,454 | | | | 31,283 | | | | 28,163 | | | | — | | | | 95,900 | |
| UltraBear ProFund | | | 30,161 | | | | 21,558 | | | | 21,307 | | | | 733 | | | | 73,759 | |
| UltraChina ProFund | | | — | | | | — | | | | — | | | | 1,615 | | | | 1,615 | |
| UltraEmerging Markets ProFund | | | — | | | | — | | | | 9,257 | | | | 3,421 | | | | 12,678 | |
| UltraInternational ProFund | | | 30,332 | | | | 17,617 | | | | 29,060 | | | | 3,661 | | | | 80,670 | |
| UltraJapan ProFund | | | — | | | | — | | | | 11,124 | | | | 1,774 | | | | 12,898 | |
| UltraShort China ProFund | | | 30,877 | | | | 27,238 | | | | 30,636 | | | | 5,072 | | | | 93,823 | |
| UltraShort Dow 30 ProFund | | | 20,771 | | | | 28,736 | | | | 25,064 | | | | 4,081 | | | | 78,652 | |
| UltraShort Emerging Markets ProFund | | | 27,317 | | | | 31,648 | | | | 11,795 | | | | 6,500 | | | | 77,260 | |
| UltraShort International ProFund | | | 29,189 | | | | 22,927 | | | | 9,933 | | | | 5,656 | | | | 67,705 | |
| UltraShort Japan ProFund | | | 29,550 | | | | 40,917 | | | | 13,877 | | | | 14,195 | | | | 98,539 | |
| UltraShort Latin America ProFund | | | 23,861 | | | | 30,125 | | | | 23,720 | | | | 7,547 | | | | 85,253 | |
| UltraShort Mid-Cap ProFund | | | 23,952 | | | | 25,301 | | | | 27,602 | | | | 5,975 | | | | 82,830 | |
| UltraShort Small-Cap ProFund | | | 31,634 | | | | 17,026 | | | | 29,520 | | | | 5,013 | | | | 83,193 | |
| U.S. Government Plus ProFund | | | — | | | | — | | | | — | | | | 2,756 | | | | 2,756 | |
In addition, effective August 1, 2022, and through the period ended January 31, 2023, the Advisor has voluntarily agreed to waive advisory and management services fees, and reimburse certain other expenses of the Short Bitcoin Strategy ProFund, as consolidated with its Subsidiary, inclusive of interest expense on reverse repurchase agreements and Futures Commission Merchant fees, (but exclusive of brokerage costs, taxes, dividends (including dividend expenses on securities sold short), litigation, indemnification, and extraordinary expenses) in order to limit the annualized operating expenses of the consolidated Short Bitcoin Strategy ProFund to 1.35%. Voluntary waivers may be discontinued at any time. Amounts waived voluntarily are not subject to recoupment at a future date.
308 :: Notes to Financial Statements :: January 31, 2023 (unaudited)
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, 2023 were as follows:
| | | Purchases | | | Sales | |
| Banks UltraSector ProFund | | $ | 1,949,941 | | | $ | 2,409,971 | |
| Biotechnology UltraSector ProFund | | | 1,457,477 | | | | 2,026,339 | |
| Bull ProFund | | | 24,734,201 | | | | 30,359,012 | |
| Communication Services UltraSector ProFund | | | 1,809,800 | | | | 2,372,242 | |
| Consumer Discretionary UltraSector ProFund* | | | 420,767 | | | | 2,109,907 | |
| Consumer Staples UltraSector ProFund* | | | 2,946,307 | | | | 3,075,372 | |
| Energy UltraSector ProFund* | | | 66,329,924 | | | | 61,850,567 | |
| Europe 30 ProFund | | | 8,009,976 | | | | 10,148,212 | |
| Financials UltraSector ProFund | | | 870,540 | | | | 990,999 | |
| Health Care UltraSector ProFund | | | 4,267,827 | | | | 4,842,185 | |
| Industrials UltraSector ProFund | | | 1,433,263 | | | | 805,633 | |
| Internet UltraSector ProFund | | | 6,777,897 | | | | 10,878,538 | |
| Large-Cap Growth ProFund | | | 8,104,698 | | | | 9,818,718 | |
| Large-Cap Value ProFund | | | 65,483,630 | | | | 75,093,059 | |
| Materials UltraSector ProFund* | | | 648,310 | | | | 638,733 | |
| Mid-Cap Growth ProFund | | | 9,561,518 | | | | 9,318,884 | |
| Mid-Cap ProFund | | | 16,374,695 | | | | 8,475,866 | |
| Mid-Cap Value ProFund | | | 34,340,063 | | | | 43,539,511 | |
| Nasdaq-100 ProFund | | | 53,184,348 | | | | 45,229,638 | |
| Oil & Gas Equipment & Services UltraSector ProFund* | | | 17,810,447 | | | | 17,828,907 | |
| Pharmaceuticals UltraSector ProFund | | | 2,196,364 | | | | 2,473,498 | |
| Precious Metals UltraSector ProFund | | | 22,054,476 | | | | 20,620,937 | |
| Real Estate UltraSector ProFund | | | 1,193,298 | | | | 1,824,192 | |
| Semiconductor UltraSector ProFund | | | 6,590,232 | | | | 7,339,296 | |
| Small-Cap Growth ProFund | | | 5,753,507 | | | | 12,151,294 | |
| Small-Cap ProFund | | | 8,574,976 | | | | 8,706,964 | |
| Small-Cap Value ProFund | | | 25,927,083 | | | | 27,678,548 | |
| Technology UltraSector ProFund | | | 14,044,291 | | | | 19,211,397 | |
| Telecommunications UltraSector ProFund | | | 1,119,683 | | | | 1,682,162 | |
| UltraBull ProFund | | | 57,870,352 | | | | 47,314,433 | |
| UltraChina ProFund | | | 31,001,866 | | | | 17,447,302 | |
| UltraDow 30 ProFund | | | 6,000,655 | | | | 6,711,448 | |
| UltraEmerging Markets ProFund | | | 11,825,933 | | | | 8,240,193 | |
| UltraLatin America ProFund | | | 6,738,191 | | | | 4,907,392 | |
| UltraMid-Cap ProFund | | | 3,909,012 | | | | 2,963,424 | |
| UltraNasdaq-100 ProFund | | | 121,755,647 | | | | 164,465,483 | |
| UltraSmall-Cap ProFund | | | 26,691,346 | | | | 22,834,738 | |
| Utilities UltraSector ProFund | | | 3,151,422 | | | | 5,312,054 | |
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, 2023 were as follows:
| | | Purchases | | | Sales | |
| Access Flex High Yield ProFund | | $ | 106,963,960 | | | $ | 98,124,042 | |
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. The risks are presented in an order intended to facilitate readability, and their order does not imply that the realization of one risk is likely to occur more frequently than another risk, nor does it imply that the realization of one risk is likely to have a greater adverse impact than another risk.
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
January 31, 2023 (unaudited) :: Notes to Financial Statements :: 309
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 ProFund invests in swaps that use an ETF as the reference asset, each ProFund 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 ProFund 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.
The Bitcoin Futures Contracts market futures may be less developed, and potentially less liquid and more volatile, than more established futures markets. While the Bitcoin futures market has grown substantially since Bitcoin futures commenced trading, there can be no assurance that this growth will continue. Bitcoin futures are subject to collateral requirements and daily limits that may limit the ProFund's ability to achieve the desired exposure. If the ProFund is unable to meet its investment objective, the Fund's returns may be lower than expected. Additionally, these collateral requirements may require the ProFund to liquidate its position when it otherwise would not do so.
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.
Bitcoin Risk
The Bitcoin Strategy ProFund does not invest directly in Bitcoin. The ProFund invests primarily in Bitcoin futures.
Bitcoin is a relatively new innovation and the market for Bitcoin is subject to rapid price swings, changes and uncertainty. The further development of the Bitcoin Network and the acceptance and use of Bitcoin are subject to a variety of factors that are difficult to evaluate. The slowing, stopping or reversing of the development of the Bitcoin Network or the acceptance of Bitcoin may adversely affect the price of Bitcoin. Bitcoin is subject to the risk of fraud, theft, manipulation or security failures, operational or other problems that impact Bitcoin trading venues. Additionally, if one or a coordinated group of miners were to gain control of 51% of the Bitcoin Network, they would have the ability to manipulate transactions, halt payments and fraudulently obtain Bitcoin. A significant portion of Bitcoin is held by a small number of holders sometimes referred to as "whales". These holders have the ability to manipulate the price of Bitcoin. Unlike the exchanges for more traditional assets, such as equity securities and futures contracts, Bitcoin and Bitcoin trading venues are largely unregulated. As a result of the lack of regulation, individuals or groups may engage in fraud or market manipulation and investors may be more exposed to the risk of theft, fraud and market manipulation than when investing in more traditional asset classes. Over the past several years, a number of Bitcoin trading venues have been closed due to fraud, failure or security breaches. Investors in Bitcoin may have little or no recourse should such theft, fraud or manipulation occur and could suffer significant losses. Legal or regulatory changes may negatively impact the operation of the Bitcoin Network or restrict the use of Bitcoin. The realization of any of these risks could result in a decline in the acceptance of Bitcoin and consequently a reduction in the value of Bitcoin, Bitcoin futures, and the ProFund. The Bitcoin Network is collectively maintained by (1) a decentralized group of participants who run computer software that results in the recording and validation of transactions (commonly referred to as "miners"), (2) developers who propose improvements to the Bitcoin Protocol and the
310 :: Notes to Financial Statements :: January 31, 2023 (unaudited)
software that enforces the protocol and (3) users who choose which version of the bitcoin software to run. From time to time, the developers suggest changes to the bitcoin software. If a sufficient number of users and miners elect not to adopt the changes, a new digital asset, operating on the earlier version of the bitcoin software, may be created. This is often referred to as a "fork." The creation of a "fork" or a substantial giveaway of Bitcoin (sometimes referred to as an "air drop") may result in a significant and unexpected declines in the value of Bitcoin, Bitcoin futures, and the ProFund.
Bitcoin Futures Risk
The market for Bitcoin futures may be less developed, and potentially less liquid and more volatile, than more established futures markets. While the Bitcoin futures market has grown substantially since Bitcoin futures commenced trading, there can be no assurance that this growth will continue. Bitcoin futures are subject to collateral requirements and daily limits that may limit a ProFund's ability to achieve the desired exposure. If a ProFund is unable to meet its investment objective, a ProFund's returns may be lower than expected. Additionally, these collateral requirements may require a ProFund to liquidate its position when it otherwise would not do so.
When a Bitcoin futures contract is nearing expiration, a ProFund will generally sell it and use the proceeds to buy a Bitcoin futures contract with a later expiration date. This is commonly referred to as "rolling". The costs associated with rolling Bitcoin futures typically are substantially higher than the costs associated with other futures contracts and may have a significant adverse impact on the performance of a ProFund.
Borrowing Risk
The Bitcoin Strategy ProFund and Short Bitcoin Strategy ProFund may borrow for investment purposes using reverse repurchase agreements. The cost of borrowing may reduce a ProFund's return. Borrowing may cause a ProFund to liquidate positions under adverse market conditions to satisfy its repayment obligations. Borrowing increases the risk of loss and may increase the volatility of a ProFund.
Active Management Risk
Access Flex Bear High Yield ProFund, Access Flex High Yield ProFund and Bitcoin Strategy ProFund are actively managed, and their performance reflect the investment decisions that the Advisor makes for the ProFunds. The Advisor's judgements about the ProFunds' investments may prove to be incorrect. If the investments selected and strategies employed by the ProFunds fail to produce the intended results, the ProFunds could underperform or have negative returns as compared to other funds with a similar investment objective and/or strategies.
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.
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
January 31, 2023 (unaudited) :: Notes to Financial Statements :: 311
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.
Credit Default Swaps ("CDS") Risk
While the Access Flex Bear High Yield ProFund will normally be a net "buyer" of CDS and the Access Flex High Yield ProFund will normally be a net "seller" of CDS, at times the Access Flex Bear High Yield ProFund may be a net "seller" and the Access Flex High Yield ProFund may be a net "buyer" of CDS. When a ProFund is a seller of credit protection, upon the occurrence of a credit event, the ProFund will have an obligation to pay the full notional value of a defaulted reference entity less recovery value. When a ProFund is a buyer of credit protection, upon the occurrence of a credit event, the counterparty to the ProFund will have an obligation to pay the full notional value of a defaulted reference entity less recovery value. Recovery values for CDS are generally determined via an auction process to determine the final price for a given reference entity. Although, each ProFund intends, as practicable, to obtain exposure through centrally cleared CDS, an active market may not exist for any of the CDS in which a ProFund invests or in the reference entities subject to the CDS. As a result, a ProFund's ability to maximize returns or minimize losses on such CDS may be impaired. Other risks of CDS include difficulty in valuation due to the lack of pricing transparency and the risk that changes in the value of the CDS do not reflect changes in the credit quality of the underlying reference entities or may otherwise perform differently than expected given market conditions. Because a ProFund may use a single counterparty or a small number of counterparties, certain CDS involve many reference entities and there are no limitations on the notional amount established for the CDS. As a result, counterparty risk may be amplified.
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. In the case of cleared swaps, customers of a FCM in bankruptcy are entitled to recover assets specifically attributable to them pursuant to new CFTC regulations, but may nevertheless risk loss of some or all of their assets due to accounting or operational issues or due to legal risk in connection with the application of bankruptcy law to cleared swaps.
Natural Disaster/Epidemic Risk
Natural or environmental disasters, such as earthquakes, fires, floods, hurricanes, tsunamis and other severe weather-related phenomena generally, and widespread disease, including pandemics and epidemics (for example, the novel coronavirus (COVID-19)), have been and can be highly disruptive to economies and markets and have recently led, and may continue to lead, to increased market volatility and significant market losses. Such as natural disaster and health crises could exacerbate political, social, and economic risks previously mentioned, and result in significant breakdowns, delays, shutdowns, social isolation, and other disruptions to important global, local and regional supply chains affected, with potential corresponding results on the operating performance of the ProFund and its investments. A climate of uncertainty and panic, including the contagion of infectious viruses or diseases, may adversely affect global, regional, and local economies and reduce the availability of potential investment opportunities, and increases the difficulty of performing due diligence and modeling market conditions, potentially reducing the accuracy of financial projections. Under these circumstances, the ProFund may have difficulty achieving its investment objective which may adversely impact performance. Further, such events can be highly disruptive to economies and markets, significantly disrupt the operations of individual companies (including, but not limited to, the ProFund's investment advisor and third party service providers), sectors, industries, markets, securities and commodity exchanges, currencies, interest and inflation rates, credit ratings, investor
312 :: Notes to Financial Statements :: January 31, 2023 (unaudited)
sentiment, and other factors affecting the value of the ProFund's investments. These factors can cause substantial market volatility, exchange trading suspensions and closures and can impact the ability of the ProFund to complete redemptions and otherwise affect ProFund performance and ProFund trading in the secondary market. A widespread crisis may also affect the global economy in ways that cannot necessarily be foreseen at the current time. How long such events will last and whether they will continue or recur cannot be predicted. Impacts from these events could have significant impact on the ProFund's performance, resulting in losses to your investment.
Risk that Current Assumptions and Expectations Could Become Outdated As a Result of Global Economic Shocks
The onset of the novel coronavirus (COVID-19) has caused significant shocks to global financial markets and economies, with many governments taking extreme actions to slow and contain the spread of COVID-19 (including any variants). These actions have had, and likely will continue to have, a severe economic impact on global economies as economic activity in some instances has essentially ceased. The global economic shocks being experienced as of the date hereof may cause the underlying assumptions and expectations of the ProFund to quickly become outdated or inaccurate, resulting in significant losses. Additionally, other public health issues, war, military conflicts, sanctions, acts of terrorism, sustained elevated inflation, supply chain issues or other events could have a significant negative impact on global financial markets and economies. Russia's recent military incursions in Ukraine have led to, and may lead to additional sanctions being levied by the United States, European Union and other countries against Russia. Russia's military incursion and the resulting sanctions could adversely affect global energy and financial markets and thus could affect the value of the ProFund's investments, even beyond any direct exposure the ProFund may have to the region or to adjoining geographic regions. The extent and duration of the military action, sanctions and resulting market disruptions are impossible to predict, but could have a severe adverse effect on the region, including significant negative impacts on the economy and the markets for certain securities and commodities, such as oil and natural gas. How long such tensions and related events will last cannot be predicted. These tensions and any related events could have significant impact on the ProFund performance and the value of an investment in the ProFund.
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 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.
High Yield Risk
Investment in or exposure to high yield (lower rated) debt instruments (also known as "junk bonds") may involve greater levels of interest rate, credit, liquidity and valuation risk than for higher rated instruments. High yield debt instruments may be more sensitive to economic changes, political changes, or adverse developments specific to a company than other fixed income instruments. These securities are subject to greater risk of loss, greater sensitivity to economic changes, valuation difficulties, and a potential lack of a secondary or public market for securities. High yield debt instruments are considered predominantly speculative with respect to the issuer's continuing ability to make principal and interest payments and, therefore, such instruments generally involve greater risk of default or price changes than higher rated debt instruments. An economic downturn or period of rising interest rates could adversely affect the market for these securities and reduce market liquidity (liquidity risk). Less active markets may diminish a ProFund's ability to obtain accurate market quotations when valuing the portfolio securities and thereby give rise to valuation risk. High yield debt instruments may also present risks based on payment expectations. For example, these instruments may contain redemption or call provisions. If an issuer exercises these provisions in a declining interest rate market, the ProFund would have to replace the security with a lower yielding security, resulting in a decreased return for investors. If the issuer of a security is in default with respect to interest or principal payments, the issuer's security could lose its entire value. Furthermore, the transaction costs associated with the purchase and sale of high yield debt instruments may vary greatly depending upon a number of factors and may adversely affect a ProFund's performance. While the realization of certain of these risks may benefit the Access Flex Bear High Yield ProFund because it seeks investment results that correspond to the inverse of the high yield market, such occurrences may introduce more volatility to the ProFund.
January 31, 2023 (unaudited) :: Notes to Financial Statements :: 313
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.
Investment Capacity Risk
The Bitcoin Strategy ProFund's ability to obtain exposure to Bitcoin futures contracts consistent with its investment objective is disrupted for any reason including, limited liquidity in the Bitcoin futures market, a disruption to the Bitcoin futures market, or as a result of margin requirements or position limits imposed by the ProFund's futures commission merchants ("FCMs"), the CME, or the CFTC, the ProFund would not be able to achieve its investment objective and may experience significant losses. The Adviser may, in its sole discretion and without prior notice, limit or reject purchases of ProFund shares. This is often referred to as "closing" the ProFund. The Adviser may re-open the ProFund in its sole discretion and without prior notice.
Financing Rates Associated with Derivatives
The performance of ProFunds that use derivatives was impacted by the related financing costs. Financial instruments such as futures contracts carry implied financing costs. Forward and swap financing rates are negotiated between the ProFunds and their counterparties, and are set at the Fed Funds rate ("FEDL01") plus or minus a negotiated spread. The Fed Funds rate appreciated from 0.08% to 4.33% during the period. Each ProFund with long exposure via derivatives was generally negatively affected by financing rates. Conversely, most ProFunds with short/inverse derivative exposure generally benefited from financing rates.
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.
The market for the Bitcoin futures contracts is still developing and may be subject to periods of illiquidity. During such times it may be difficult or impossible to buy or sell a position at the desired price. Market disruptions or volatility can also make it difficult to find a counterparty willing to transact at a reasonable price and sufficient size. Illiquid markets may cause losses, which could be significant. The large size of the positions which the ProFund may acquire increases the risk of illiquidity, may make its positions more difficult to liquidate, and increase the losses incurred while trying to do so.
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 2022 | | | Year Ended 2021 | |
| | | 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 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Bull ProFund | | $ | 370,689 | | | $ | — | | | $ | — | | | $ | 370,689 | | | $ | 1,995,004 | | | $ | 2,757,165 | | | $ | — | | | $ | 4,752,169 | |
| Europe 30 ProFund | | | 48,336 | | | | — | | | | — | | | | 48,336 | | | | 33,014 | | | | — | | | | — | | | | 33,014 | |
| UltraBull ProFund | | | 8,363,176 | | | | 779,894 | | | | — | | | | 9,143,070 | | | | 5,070,936 | | | | 2,554,660 | | | | — | | | | 7,625,596 | |
| UltraJapan ProFund | | | — | | | | — | | | | — | | | | — | | | | 675,945 | | | | 1,304,962 | | | | — | | | | 1,980,907 | |
| UltraNasdaq-100 ProFund | | | 26,477,309 | | | | 1,155,436 | | | | — | | | | 27,632,745 | | | | 148,739,778 | | | | 16,381,915 | | | | — | | | | 165,121,693 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| October 31 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Access Flex High Yield ProFund | | | 29,233 | | | | — | | | | — | | | | 29,233 | | | | 467,987 | | | | — | | | | — | | | | 467,987 | |
| Biotechnology UltraSector ProFund | | | 14,242,748 | | | | 11,279,599 | | | | — | | | | 25,522,347 | | | | 17,310,399 | | | | — | | | | — | | | | 17,310,399 | |
| Communication Services UltraSector ProFund | | | 59,697 | | | | 2,106 | | | | 7,136 | | | | 68,939 | | | | — | | | | — | | | | — | | | | — | |
| Consumer Discretionary UltraSector ProFund* | | | 5,320,428 | | | | 130,368 | | | | — | | | | 5,450,796 | | | | 1,939,814 | | | | 1,051,801 | | | | — | | | | 2,991,615 | |
| Consumer Staples UltraSector ProFund* | | | 351,875 | | | | 151,475 | | | | — | | | | 503,350 | | | | — | | | | — | | | | — | | | | — | |
| Energy UltraSector ProFund* | | | 427,298 | | | | — | | | | — | | | | 427,298 | | | | 227,674 | | | | — | | | | — | | | | 227,674 | |
| Financials UltraSector ProFund | | | 877,097 | | | | 944 | | | | 1,140 | | | | 879,181 | | | | — | | | | — | | | | — | | | | — | |
| Industrials UltraSector ProFund | | | 436,119 | | | | 3,145 | | | | 39 | | | | 439,303 | | | | — | | | | — | | | | — | | | | — | |
| Internet UltraSector ProFund | | | 20,936,695 | | | | 9,806,780 | | | | — | | | | 30,743,475 | | | | 27,272,748 | | | | 12,588,418 | | | | — | | | | 39,861,166 | |
314 :: Notes to Financial Statements :: January 31, 2023 (unaudited)
| | | Year Ended 2022 | | | Year Ended 2021 | |
| | | 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 | |
| Large-Cap Growth ProFund | | $ | 221,666 | | | $ | 85,029 | | | $ | — | | | $ | 306,695 | | | $ | 751,788 | | | $ | 649,703 | | | $ | — | | | $ | 1,401,491 | |
| Large-Cap Value ProFund | | | 54,514 | | | | — | | | | — | | | | 54,514 | | | | — | | | | — | | | | — | | | | — | |
| Materials UltraSector ProFund* | | | — | | | | — | | | | — | | | | — | | | | 87,381 | | | | 4,525 | | | | — | | | | 91,906 | |
| Mid-Cap Growth ProFund | | | 831,229 | | | | 119,485 | | | | — | | | | 950,714 | | | | 320,965 | | | | 602,809 | | | | — | | | | 923,774 | |
| Mid-Cap ProFund | | | 158,547 | | | | 58,875 | | | | — | | | | 217,422 | | | | — | | | | — | | | | — | | | | — | |
| Mid-Cap Value ProFund | | | 50,173 | | | | — | | | | — | | | | 50,173 | | | | 10,633 | | | | — | | | | — | | | | 10,633 | |
| Nasdaq-100 ProFund | | | 2,281,194 | | | | 2,060,020 | | | | — | | | | 4,341,214 | | | | 1,491,584 | | | | 348,686 | | | | — | | | | 1,840,270 | |
| Oil & Gas Equipment & Services UltraSector ProFund* | | | — | | | | — | | | | — | | | | — | | | | 17,573 | | | | — | | | | — | | | | 17,573 | |
| Pharmaceuticals UltraSector ProFund | | | 57,588 | | | | 128,692 | | | | — | | | | 186,280 | | | | — | | | | 16,620 | | | | — | | | | 16,620 | |
| Real Estate UltraSector ProFund | | | 2,827,076 | | | | 300,145 | | | | — | | | | 3,127,221 | | | | — | | | | — | | | | — | | | | — | |
| Semiconductor UltraSector ProFund | | | 5,976,285 | | | | 178,486 | | | | — | | | | 6,154,771 | | | | — | | | | — | | | | — | | | | — | |
| Small-Cap Growth ProFund | | | 228,742 | | | | 328,498 | | | | — | | | | 557,240 | | | | — | | | | — | | | | — | | | | — | |
| Small-Cap Value ProFund | | | 182,410 | | | | 46,458 | | | | — | | | | 228,868 | | | | — | | | | — | | | | — | | | | — | |
| Technology UltraSector ProFund | | | 6,724,712 | | | | 558,470 | | | | — | | | | 7,283,182 | | | | 1,627,121 | | | | 8,142 | | | | — | | | | 1,635,263 | |
| Telecommunications UltraSector ProFund | | | 6,192 | | | | — | | | | — | | | | 6,192 | | | | 4,660 | | | | — | | | | — | | | | 4,660 | |
| UltraDow 30 ProFund | | | 2,441,094 | | | | 102,530 | | | | — | | | | 2,543,624 | | | | 55,323 | | | | 580,971 | | | | — | | | | 636,294 | |
| UltraLatin America ProFund | | | 703,948 | | | | — | | | | — | | | | 703,948 | | | | 103,594 | | | | — | | | | — | | | | 103,594 | |
| UltraMid-Cap ProFund | | | 2,306,933 | | | | 422,277 | | | | — | | | | 2,729,210 | | | | — | | | | — | | | | — | | | | — | |
| Utilities UltraSector ProFund | | | 16,661 | | | | — | | | | — | | | | 16,661 | | | | 31,184 | | | | — | | | | 14,289 | | | | 45,473 | |
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) | |
| Access Flex Bear High Yield ProFund | | $ | — | | | $ | — | | | $ | — | | | $ | (5,283,032 | ) | | $ | — | | | $ | (5,283,032 | ) |
| Access Flex High Yield ProFund | | | 548,440 | | | | — | | | | — | | | | (2,242,288 | ) | | | (44,156 | ) | | | (1,738,004 | ) |
| Banks UltraSector ProFund | | | 20,726 | | | | — | | | | — | | | | (5,366,822 | ) | | | 2,877,925 | | | | (2,468,171 | ) |
| Bear ProFund | | | — | | | | — | | | | — | | | | (65,955,584 | ) | | | 32,577 | | | | (65,923,007 | ) |
| Biotechnology UltraSector ProFund | | | — | | | | — | | | | — | | | | (8,042,682 | ) | | | 48,977,822 | | | | 40,935,140 | |
| Bitcoin Strategy ProFund | | | — | | | | — | | | | — | | | | (148,034 | ) | | | (27,601,142 | ) | | | (27,749,176 | ) |
| Bull ProFund | | | — | | | | — | | | | — | | | | — | | | | 14,836,520 | | | | 14,836,520 | |
| Communication Services UltraSector ProFund | | | — | | | | — | | | | — | | | | (2,248,651 | ) | | | (598,835 | ) | | | (2,847,486 | ) |
| Consumer Discretionary UltraSector ProFund* | | | — | | | | — | | | | — | | | | (6,180,585 | ) | | | 14,334,038 | | | | 8,153,453 | |
| Consumer Staples UltraSector ProFund* | | | — | | | | — | | | | — | | | | (1,169,853 | ) | | | 1,710,405 | | | | 540,552 | |
| Energy UltraSector ProFund* | | | 1,096,452 | | | | — | | | | — | | | | — | | | | 22,189,081 | | | | 23,285,533 | |
| Europe 30 ProFund | | | 72,280 | | | | — | | | | — | | | | (4,710,823 | ) | | | 148,400 | | | | (4,490,143 | ) |
| Falling U.S. Dollar ProFund | | | — | | | | — | | | | — | | | | (2,779,036 | ) | | | — | | | | (2,779,036 | ) |
| Financials UltraSector ProFund | | | — | | | | — | | | | — | | | | (1,679,698 | ) | | | 1,663,972 | | | | (15,726 | ) |
| Health Care UltraSector ProFund | | | — | | | | — | | | | — | | | | (2,936,626 | ) | | | 9,144,888 | | | | 6,208,262 | |
| Industrials UltraSector ProFund | | | — | | | | — | | | | — | | | | (254,662 | ) | | | 1,561,888 | | | | 1,307,226 | |
| Internet UltraSector ProFund | | | — | | | | — | | | | — | | | | (42,678,912 | ) | | | 3,980,224 | | | | (38,698,688 | ) |
| Large-Cap Growth ProFund | | | — | | | | 182,929 | | | | — | | | | (138,997 | ) | | | 5,550,664 | | | | 5,594,596 | |
| Large-Cap Value ProFund | | | 47,656 | | | | — | | | | — | | | | (3,548,006 | ) | | | 1,317,556 | | | | (2,182,794 | ) |
| Materials UltraSector ProFund* | | | — | | | | — | | | | — | | | | (1,774,087 | ) | | | 1,633,498 | | | | (140,589 | ) |
| Mid-Cap Growth ProFund | | | — | | | | 105,905 | | | | — | | | | (26,020 | ) | | | 371,427 | | | | 451,312 | |
| Mid-Cap ProFund | | | — | | | | — | | | | — | | | | (1,023,881 | ) | | | 862,296 | | | | (161,585 | ) |
| Mid-Cap Value ProFund | | | — | | | | — | | | | — | | | | — | | | | (31,849 | ) | | | (31,849 | ) |
| Nasdaq-100 ProFund | | | — | | | | — | | | | — | | | | (11,426,617 | ) | | | 24,067,879 | | | | 12,641,262 | |
| Oil & Gas Equipment & Services UltraSector ProFund* | | | — | | | | — | | | | — | | | | (19,345,487 | ) | | | 3,874,961 | | | | (15,470,526 | ) |
| Pharmaceuticals UltraSector ProFund | | | — | | | | — | | | | — | | | | (591,648 | ) | | | 390,664 | | | | (200,984 | ) |
| Precious Metals UltraSector ProFund | | | 654 | | | | — | | | | — | | | | (64,102,253 | ) | | | 1,051,584 | | | | (63,050,015 | ) |
January 31, 2023 (unaudited) :: Notes to Financial Statements :: 315
| | | 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 | | $ | — | | | $ | — | | | $ | — | | | $ | (4,618,690 | ) | | $ | 1,651,903 | | | $ | (2,966,787 | ) |
| Rising Rates Opportunity ProFund | | | — | | | | — | | | | — | | | | (38,394,581 | ) | | | 2,143,602 | | | | (36,250,979 | ) |
| Rising Rates Opportunity 10 ProFund | | | — | | | | — | | | | — | | | | (3,174,767 | ) | | | (4,799 | ) | | | (3,179,566 | ) |
| Rising U.S. Dollar ProFund | | | 199,419 | | | | 408,967 | | | | — | | | | — | | | | — | | | | 608,386 | |
| Semiconductor UltraSector ProFund | | | — | | | | — | | | | — | | | | (29,506,592 | ) | | | 23,781,810 | | | | (5,724,782 | ) |
| Short Bitcoin Strategy ProFund | | | — | | | | — | | | | — | | | | (46 | ) | | | (50,290 | ) | | | (50,336 | ) |
| Short Energy ProFund* | | | — | | | | — | | | | — | | | | (2,170,800 | ) | | | (29,888 | ) | | | (2,200,688 | ) |
| Short Nasdaq-100 ProFund | | | — | | | | — | | | | — | | | | (10,095,947 | ) | | | 255,794 | | | | (9,840,153 | ) |
| Short Precious Metals ProFund | | | — | | | | — | | | | — | | | | (9,237,513 | ) | | | (58,604 | ) | | | (9,296,117 | ) |
| Short Real Estate ProFund | | | — | | | | — | | | | — | | | | (4,494,796 | ) | | | (176,056 | ) | | | (4,670,852 | ) |
| Short Small-Cap ProFund | | | — | | | | — | | | | — | | | | (15,327,451 | ) | | | (24,594 | ) | | | (15,352,045 | ) |
| Small-Cap Growth ProFund | | | — | | | | 152,420 | | | | — | | | | (45,025 | ) | | | 809,116 | | | | 916,511 | |
| Small-Cap ProFund | | | — | | | | — | | | | — | | | | — | | | | 584,771 | | | | 584,771 | |
| Small-Cap Value ProFund | | | — | | | | — | | | | — | | | | — | | | | (245,280 | ) | | | (245,280 | ) |
| Technology UltraSector ProFund | | | — | | | | — | | | | — | | | | (9,929,591 | ) | | | 20,684,006 | | | | 10,754,415 | |
| Telecommunications UltraSector ProFund | | | 3,748 | | | | — | | | | — | | | | (5,741,370 | ) | | | 21,439 | | | | (5,716,183 | ) |
| UltraBear ProFund | | | — | | | | — | | | | — | | | | (96,879,144 | ) | | | (69,577 | ) | | | (96,948,721 | ) |
| UltraBull ProFund | | | 52,611 | | | | — | | | | — | | | | (39,455,402 | ) | | | 34,613,353 | | | | (4,789,438 | ) |
| UltraChina ProFund | | | — | | | | — | | | | — | | | | (38,175,215 | ) | | | (10,332,094 | ) | | | (48,507,309 | ) |
| UltraDow 30 ProFund | | | — | | | | — | | | | — | | | | (5,705,116 | ) | | | 12,443,341 | | | | 6,738,225 | |
| UltraEmerging Markets ProFund | | | 65,396 | | | | — | | | | — | | | | (8,580,396 | ) | | | 150,334 | | | | (8,364,666 | ) |
| UltraInternational ProFund | | | — | | | | — | | | | — | | | | (1,170,084 | ) | | | 4,102 | | | | (1,165,982 | ) |
| UltraJapan ProFund | | | — | | | | — | | | | — | | | | (3,089,817 | ) | | | (6,796 | ) | | | (3,096,613 | ) |
| UltraLatin America ProFund | | | 740,299 | | | | — | | | | — | | | | (29,459,240 | ) | | | (888,549 | ) | | | (29,607,490 | ) |
| UltraMid-Cap ProFund | | | — | | | | — | | | | — | | | | (9,365,971 | ) | | | 8,531,203 | | | | (834,768 | ) |
| UltraNasdaq-100 ProFund | | | — | | | | — | | | | — | | | | (456,398,832 | ) | | | 209,167,276 | | | | (247,231,556 | ) |
| UltraShort China ProFund | | | — | | | | — | | | | — | | | | (7,821,446 | ) | | | 209,517 | | | | (7,611,929 | ) |
| UltraShort Dow 30 ProFund | | | — | | | | — | | | | — | | | | (23,991,175 | ) | | | (124,423 | ) | | | (24,115,598 | ) |
| UltraShort Emerging Markets ProFund | | | — | | | | — | | | | — | | | | (11,995,744 | ) | | | 32,786 | | | | (11,962,958 | ) |
| UltraShort International ProFund | | | — | | | | — | | | | — | | | | (16,870,223 | ) | | | (11,813 | ) | | | (16,882,036 | ) |
| UltraShort Japan ProFund | | | — | | | | — | | | | — | | | | (10,630,664 | ) | | | (8,368 | ) | | | (10,639,032 | ) |
| UltraShort Latin America ProFund | | | — | | | | — | | | | — | | | | (16,868,836 | ) | | | (26,762 | ) | | | (16,895,598 | ) |
| UltraShort Mid-Cap ProFund | | | — | | | | — | | | | — | | | | (10,793,498 | ) | | | (55,925 | ) | | | (10,849,423 | ) |
| UltraShort Nasdaq-100 ProFund | | | 6,401 | | | | — | | | | — | | | | (66,744,664 | ) | | | (400,220 | ) | | | (67,138,483 | ) |
| UltraShort Small-Cap ProFund | | | — | | | | — | | | | — | | | | (54,023,222 | ) | | | (257,101 | ) | | | (54,280,323 | ) |
| UltraSmall-Cap ProFund | | | — | | | | — | | | | — | | | | (33,462,693 | ) | | | 6,381,657 | | | | (27,081,036 | ) |
| U.S. Government Plus ProFund | | | — | | | | — | | | | — | | | | (7,148,530 | ) | | | (176,115 | ) | | | (7,324,645 | ) |
| Utilities UltraSector ProFund | | | 63,209 | | | | — | | | | — | | | | (8,486,951 | ) | | | 3,802,910 | | | | (4,620,832 | ) |
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, 2022 and December 31, 2022, 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, 2023 and December 31, 2023:
| | | Qualified Late
Year Ordinary
Losses | |
October 31
tax year end ProFunds | | | | |
| Access Flex Bear High Yield ProFund | | $ | 155,303 | |
| Biotechnology UltraSector ProFund | | | 144,057 | |
| Bitcoin Strategy ProFund | | | 141,706 | |
| Communication Services UltraSector ProFund | | | 32,190 | |
| Consumer Discretionary UltraSector ProFund* | | | 216,907 | |
| Consumer Staples UltraSector ProFund* | | | 20,653 | |
| Falling U.S. Dollar ProFund | | | 5,545 | |
| Financials UltraSector ProFund | | | 1,950 | |
| Health Care UltraSector ProFund | | | 68,759 | |
| Industrials UltraSector ProFund | | | 22,505 | |
| Internet UltraSector ProFund | | | 1,030,257 | |
| Large-Cap Growth ProFund | | | 138,997 | |
316 :: Notes to Financial Statements :: January 31, 2023 (unaudited)
| | | Qualified Late
Year Ordinary
Losses | |
| Materials UltraSector ProFund* | | $ | 2,947 | |
| Mid-Cap Growth ProFund | | | 26,020 | |
| Mid-Cap ProFund | | | 20,512 | |
| Nasdaq-100 ProFund | | | 531,047 | |
| Oil & Gas Equipment & Services UltraSector ProFund* | | | 119,996 | |
| Rising Rates Opportunity ProFund | | | 59,121 | |
| Rising Rates Opportunity 10 ProFund | | | 21,356 | |
| Semiconductor UltraSector ProFund | | | 309,764 | |
| Short Energy ProFund* | | | 4,947 | |
| Short Nasdaq-100 ProFund | | | 134,598 | |
| Short Precious Metals ProFund | | | 9,004 | |
| Short Real Estate ProFund | | | 1,800 | |
| Short Small-Cap ProFund | | | 25,712 | |
| Small-Cap Growth ProFund | | | 45,025 | |
| Technology UltraSector ProFund | | | 458,927 | |
| UltraChina ProFund | | | 13,643 | |
| UltraInternational ProFund | | | 11,659 | |
| UltraMid-Cap ProFund | | | 63,638 | |
| UltraShort China ProFund | | | 21,883 | |
| UltraShort Dow 30 ProFund | | | 13,964 | |
| UltraShort Emerging Markets ProFund | | | 4,524 | |
| UltraShort International ProFund | | | 6,810 | |
| UltraShort Japan ProFund | | | 2,604 | |
| UltraShort Latin America ProFund | | | 2,087 | |
| UltraShort Mid-Cap ProFund | | | 7,333 | |
| UltraShort Small-Cap ProFund | | | 19,159 | |
| UltraSmall-Cap ProFund | | | 284,764 | |
| U.S. Government Plus ProFund | | | 81,415 | |
As of the end of their respective tax years ended October 31, 2022 and December 31, 2022, the following ProFunds have capital loss carry forwards ("CLCFs") as summarized in the table below.
| Fund | | No Expiration
Date | |
| Access Flex Bear High Yield ProFund | | $ | 5,127,729 | |
| Access Flex High Yield ProFund | | | 2,242,288 | |
| Banks UltraSector ProFund | | | 5,366,822 | |
| Bear ProFund | | | 65,955,584 | |
| Biotechnology UltraSector ProFund | | | 7,898,625 | |
| Bitcoin Strategy ProFund | | | 6,328 | |
| Communication Services UltraSector ProFund | | | 2,216,461 | |
| Consumer Discretionary UltraSector ProFund* | | | 5,963,678 | |
| Consumer Staples UltraSector ProFund* | | | 1,149,200 | |
| Europe 30 ProFund | | | 4,710,823 | |
| Falling U.S. Dollar ProFund | | | 2,773,491 | |
| Financials UltraSector ProFund | | | 1,677,748 | |
| Health Care UltraSector ProFund | | | 2,867,867 | |
| Industrials UltraSector ProFund | | | 232,157 | |
| Internet UltraSector ProFund | | | 41,648,655 | |
| Large-Cap Value ProFund | | | 3,548,006 | |
| Materials UltraSector ProFund* | | | 1,771,140 | |
| Mid-Cap ProFund | | | 1,003,369 | |
| Nasdaq-100 ProFund | | | 10,895,570 | |
| Oil & Gas Equipment & Services UltraSector ProFund* | | | 19,225,491 | |
| Pharmaceuticals UltraSector ProFund | | | 591,648 | |
| Precious Metals UltraSector ProFund | | | 64,102,253 | |
| Real Estate UltraSector ProFund | | | 4,618,690 | |
| Rising Rates Opportunity ProFund | | | 38,335,460 | |
| Rising Rates Opportunity 10 ProFund | | | 3,153,411 | |
| Semiconductor UltraSector ProFund | | | 29,196,828 | |
| Short Bitcoin Strategy ProFund | | | 46 | |
| Short Energy ProFund* | | | 2,165,853 | |
| Short Nasdaq-100 ProFund | | | 9,961,349 | |
January 31, 2023 (unaudited) :: Notes to Financial Statements :: 317
| Fund | | No Expiration
Date | |
| Short Precious Metals ProFund | | $ | 9,228,509 | |
| Short Real Estate ProFund | | | 4,492,996 | |
| Short Small-Cap ProFund | | | 15,301,739 | |
| Technology UltraSector ProFund | | | 9,470,664 | |
| Telecommunications UltraSector ProFund | | | 5,741,370 | |
| UltraBear ProFund | | | 96,879,144 | |
| UltraBull ProFund | | | 39,455,402 | |
| UltraChina ProFund | | | 38,161,572 | |
| UltraDow 30 ProFund | | | 5,705,116 | |
| UltraEmerging Markets ProFund | | | 8,580,396 | |
| UltraInternational ProFund | | | 1,158,425 | |
| UltraJapan ProFund | | | 3,089,817 | |
| UltraLatin America ProFund | | | 29,459,240 | |
| UltraMid-Cap ProFund | | | 9,302,333 | |
| UltraNasdaq-100 ProFund | | | 456,398,832 | |
| UltraShort China ProFund | | | 7,799,563 | |
| UltraShort Dow 30 ProFund | | | 23,977,211 | |
| UltraShort Emerging Markets ProFund | | | 11,991,220 | |
| UltraShort International ProFund | | | 16,863,413 | |
| UltraShort Japan ProFund | | | 10,628,060 | |
| UltraShort Latin America ProFund | | | 16,866,749 | |
| UltraShort Mid-Cap ProFund | | | 10,786,165 | |
| UltraShort Nasdaq-100 ProFund | | | 66,744,664 | |
| UltraShort Small-Cap ProFund | | | 54,004,063 | |
| UltraSmall-Cap ProFund | | | 33,177,929 | |
| U.S. Government Plus ProFund | | | 7,067,115 | |
| Utilities UltraSector ProFund | | | 8,486,951 | |
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, 2022 and December 31, 2022, the cost of securities, including derivatives, gross unrealized appreciation and gross unrealized depreciation on investment securities, for federal income tax purposes, were as follows:
| | | Tax Cost | | | Tax
Unrealized
Appreciation | | | Tax
Unrealized
Depreciation | | | Net Unrealized
Appreciation
(Depreciation) | |
| Access Flex Bear High Yield ProFund | | $ | 2,177,000 | | | $ | — | | | $ | — | | | $ | — | |
| Access Flex High Yield ProFund | | | 14,153,150 | | | | — | | | | (44,156 | ) | | | (44,156 | ) |
| Banks UltraSector ProFund | | | 4,989,175 | | | | 4,649,064 | | | | (1,771,139 | ) | | | 2,877,925 | |
| Bear ProFund | | | 44,991,000 | | | | 32,577 | | | | — | | | | 32,577 | |
| Biotechnology UltraSector ProFund | | | 68,226,582 | | | | 59,023,428 | | | | (10,045,606 | ) | | | 48,977,822 | |
| Bitcoin Strategy ProFund | | | 34,182,029 | | | | — | | | | (27,601,142 | ) | | | (27,601,142 | ) |
| Bull ProFund | | | 16,985,922 | | | | 16,625,296 | | | | (1,788,776 | ) | | | 14,836,520 | |
| Communication Services UltraSector ProFund | | | 3,919,577 | | | | 494,057 | | | | (1,092,892 | ) | | | (598,835 | ) |
| Consumer Discretionary UltraSector ProFund* | | | 14,029,482 | | | | 16,012,485 | | | | (1,678,447 | ) | | | 14,334,038 | |
| Consumer Staples UltraSector ProFund* | | | 2,016,481 | | | | 1,858,276 | | | | (147,871 | ) | | | 1,710,405 | |
| Energy UltraSector ProFund* | | | 38,842,005 | | | | 24,404,000 | | | | (2,214,919 | ) | | | 22,189,081 | |
| Europe 30 ProFund | | | 2,606,036 | | | | 749,831 | | | | (601,431 | ) | | | 148,400 | |
| Falling U.S. Dollar ProFund | | | 812,000 | | | | — | | | | — | | | | — | |
| Financials UltraSector ProFund | | | 3,726,530 | | | | 2,933,450 | | | | (1,269,478 | ) | | | 1,663,972 | |
| Health Care UltraSector ProFund | | | 9,071,384 | | | | 9,874,745 | | | | (729,857 | ) | | | 9,144,888 | |
| Industrials UltraSector ProFund | | | 2,064,515 | | | | 1,641,286 | | | | (79,398 | ) | | | 1,561,888 | |
| Internet UltraSector ProFund | | | 61,813,369 | | | | 22,481,976 | | | | (18,501,752 | ) | | | 3,980,224 | |
| Large-Cap Growth ProFund | | | 3,658,526 | | | | 5,971,948 | | | | (421,284 | ) | | | 5,550,664 | |
| Large-Cap Value ProFund | | | 14,355,316 | | | | 2,345,425 | | | | (1,027,869 | ) | | | 1,317,556 | |
| Materials UltraSector ProFund* | | | 2,601,001 | | | | 2,191,114 | | | | (557,616 | ) | | | 1,633,498 | |
| Mid-Cap Growth ProFund | | | 3,034,035 | | | | 935,974 | | | | (564,547 | ) | | | 371,427 | |
| Mid-Cap ProFund | | | 3,037,398 | | | | 1,171,780 | | | | (309,484 | ) | | | 862,296 | |
| Mid-Cap Value ProFund | | | 11,877,933 | | | | 1,249,957 | | | | (1,281,806 | ) | | | (31,849 | ) |
| Nasdaq-100 ProFund | | | 22,207,871 | | | | 25,221,169 | | | | (1,153,290 | ) | | | 24,067,879 | |
318 :: Notes to Financial Statements :: January 31, 2023 (unaudited)
| | | Tax Cost | | | Tax
Unrealized
Appreciation | | | Tax
Unrealized
Depreciation | | | Net Unrealized
Appreciation
(Depreciation) | |
| Oil & Gas Equipment & Services UltraSector ProFund* | | $ | 21,842,197 | | | $ | 8,513,873 | | | $ | (4,638,912 | ) | | $ | 3,874,961 | |
| Pharmaceuticals UltraSector ProFund | | | 3,781,066 | | | | 783,417 | | | | (392,753 | ) | | | 390,664 | |
| Precious Metals UltraSector ProFund | | | 15,481,654 | | | | 6,620,986 | | | | (5,569,402 | ) | | | 1,051,584 | |
| Real Estate UltraSector ProFund | | | 3,998,282 | | | | 2,158,837 | | | | (506,934 | ) | | | 1,651,903 | |
| Rising Rates Opportunity ProFund | | | 47,738,000 | | | | 2,143,602 | | | | — | | | | 2,143,602 | |
| Rising Rates Opportunity 10 ProFund | | | 9,176,000 | | | | — | | | | (4,799 | ) | | | (4,799 | ) |
| Rising U.S. Dollar ProFund | | | 31,728,000 | | | | — | | | | — | | | | — | |
| Semiconductor UltraSector ProFund | | | 20,257,789 | | | | 24,347,615 | | | | (565,805 | ) | | | 23,781,810 | |
| Short Bitcoin Strategy ProFund | | | 216,800 | | | | 10,846 | | | | (61,136 | ) | | | (50,290 | ) |
| Short Energy ProFund* | | | 1,004,000 | | | | — | | | | (29,888 | ) | | | (29,888 | ) |
| Short Nasdaq-100 ProFund | | | 73,079,000 | | | | 255,794 | | | | — | | | | 255,794 | |
| Short Precious Metals ProFund | | | 5,609,000 | | | | — | | | | (58,604 | ) | | | (58,604 | ) |
| Short Real Estate ProFund | | | 2,789,000 | | | | — | | | | (176,056 | ) | | | (176,056 | ) |
| Short Small Cap ProFund | | | 1,343,000 | | | | — | | | | (24,594 | ) | | | (24,594 | ) |
| Small-Cap Growth ProFund | | | 3,692,050 | | | | 1,581,020 | | | | (771,904 | ) | | | 809,116 | |
| Small-Cap ProFund | | | 3,082,473 | | | | 860,320 | | | | (275,549 | ) | | | 584,771 | |
| Small-Cap Value ProFund | | | 13,454,296 | | | | 1,961,994 | | | | (2,207,274 | ) | | | (245,280 | ) |
| Technology UltraSector ProFund | | | 16,755,422 | | | | 22,619,132 | | | | (1,935,126 | ) | | | 20,684,006 | |
| Telecommunications UltraSector ProFund | | | 751,533 | | | | 168,839 | | | | (147,400 | ) | | | 21,439 | |
| UltraBear ProFund | | | 16,561,000 | | | | — | | | | (69,577 | ) | | | (69,577 | ) |
| UltraBull ProFund | | | 54,348,028 | | | | 42,830,886 | | | | (8,217,533 | ) | | | 34,613,353 | |
| UltraChina ProFund | | | 20,672,046 | | | | 1,170,403 | | | | (11,502,497 | ) | | | (10,332,094 | ) |
| UltraDow 30 ProFund | | | 23,286,155 | | | | 13,805,873 | | | | (1,362,532 | ) | | | 12,443,341 | |
| UltraEmerging Markets ProFund | | | 4,345,349 | | | | 1,531,307 | | | | (1,380,973 | ) | | | 150,334 | |
| UltraInternational ProFund | | | 2,043,000 | | | | 4,102 | | | | — | | | | 4,102 | |
| UltraJapan ProFund | | | 10,268,000 | | | | — | | | | (6,796 | ) | | | (6,796 | ) |
| UltraLatin America ProFund | | | 12,027,645 | | | | 3,657,412 | | | | (4,545,961 | ) | | | (888,549 | ) |
| UltraMid-Cap ProFund | | | 32,409,013 | | | | 11,459,994 | | | | (2,928,791 | ) | | | 8,531,203 | |
| UltraNasdaq-100 ProFund | | | 189,462,760 | | | | 237,495,521 | | | | (28,328,245 | ) | | | 209,167,276 | |
| UltraShort China ProFund | | | 2,358,000 | | | | 209,517 | | | | — | | | | 209,517 | |
| UltraShort Dow 30 ProFund | | | 3,653,000 | | | | — | | | | (124,423 | ) | | | (124,423 | ) |
| UltraShort Emerging Markets ProFund | | | 2,949,000 | | | | 32,786 | | | | — | | | | 32,786 | |
| UltraShort International ProFund | | | 4,637,000 | | | | — | | | | (11,813 | ) | | | (11,813 | ) |
| UltraShort Japan ProFund | | | 271,000 | | | | — | | | | (8,368 | ) | | | (8,368 | ) |
| UltraShort Latin America ProFund | | | 1,456,000 | | | | — | | | | (26,762 | ) | | | (26,762 | ) |
| UltraShort Mid-Cap ProFund | | | 1,695,000 | | | | — | | | | (55,925 | ) | | | (55,925 | ) |
| UltraShort Nasdaq-100 ProFund | | | 81,249,000 | | | | — | | | | (400,220 | ) | | | (400,220 | ) |
| UltraShort Small-Cap ProFund | | | 6,452,000 | | | | — | | | | (257,101 | ) | | | (257,101 | ) |
| UltraSmall-Cap ProFund | | | 46,219,465 | | | | 12,116,918 | | | | (5,735,261 | ) | | | 6,381,657 | |
| U.S. Government Plus ProFund | | | 7,884,000 | | | | — | | | | (176,115 | ) | | | (176,115 | ) |
| Utilities UltraSector ProFund | | | 5,313,795 | | | | 4,120,351 | | | | (317,441 | ) | | | 3,802,910 | |
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.
As of January 31, 2023, Access Flex Bear High Yield ProFund was owed $299,294 and the Rising U.S. Dollar ProFund was owed $690,025 of the original amount owed, as of September 15, 2008, of $925,069 and $2,135,323, respectively, from over-the-counter derivatives transactions with Lehman. To the extent Lehman fails to fully pay the Access Flex Bear High Yield ProFund and 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 each 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 Access Flex Bear High Yield ProFund and 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
January 31, 2023 (unaudited) :: Notes to Financial Statements :: 319
Investor Protection Corporation proceedings related to Lehman. Accordingly, no loss is expected to be realized by either the Access Flex Bear High Yield ProFund the Rising U.S. Dollar ProFund. Lehman has made payments on the original amount owed to the Access Flex Bear High Yield ProFund and the Rising U.S. Dollar ProFund. The fair values of the remaining claims due from Lehman are $3,602 and $8,314, respectively, and are included in "Receivable for closed swap positions" and "Receivable for closed forward currency contracts", respectively, on the Statements of Assets and Liabilities. The fair value of the amounts that are estimated to be paid by the Advisor are $295,692 and $681,711, respectively, and are 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, 2023.
9. Share Splits and Reverse Share Splits
Effective December 14, 2020, the Consumer Staples UltraSector ProFund*, the Internet UltraSector ProFund, and the UltraNasdaq-100 ProFund underwent a 2-for-1 share split, the Oil & Gas Equipment & Services UltraSector ProFund*, the UltraBear ProFund, the UltraShort Dow 30 ProFund, the UltraShort Emerging Markets ProFund, and the UltraShort International ProFund underwent a 1-for-4 reverse share split, and the UltraShort Nasdaq-100 ProFund underwent a 1-for-8 reverse share split.
Effective November 18, 2019, the Bull ProFund, the Consumer Discretionary UltraSector ProFund*, the Industrials UltraSector ProFund, the Technology UltraSector ProFund, and the UltraDow 30 ProFund underwent a 3-for-1 share split, the Short Nasdaq-100 ProFund underwent a 1-for-4 reverse share split, and the Oil & Gas Equipment & Services UltraSector 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 Access Flex Bear High Yield 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. Shareholder Concentration
Ownership of more than 25% of the voting securities for a fund creates presumptions of control of the fund, under Section 2(a)(9) of the 1940 Act. As of January 31, 2023, the following shareholders were deemed a significant shareholder of the following ProFunds:
| | | Shareholder Name | | % of Fund Owned | |
| Rising U.S. Dollar ProFund | | SEI Private Trust Company | | | 30 | % |
| Short Bitcoin Strategy ProFund | | ProFund Advisors LLC | | | 87 | % |
| UltraJapan ProFund | | Robert Ronus | | | 34 | % |
| UltraLatin America ProFund | | Warren M. and Karen A. Merguerian | | | 58 | % |
| UltraShort Japan ProFund | | Nikolay I. Petrakov | | | 37 | % |
| UltraShort Small-Cap ProFund | | Marc S. Schwarting | | | 34 | % |
11. Subsequent Events
On December 13, 2022, the Board of Trustees approved a Plan of Liquidation and Termination for the Telecommunications UltraSector ProFund. Effective February 7, 2023, the Telecommunications UltraSector ProFund was liquidated and closed. Subsequently, the total number of separate investment portfolios in the Trust was reduced from 117 to 116.
On January 5, 2023, the Board of Trustees of ProFunds approved a change to the underlying benchmark indices of certain UltraSector and Inverse Sector ProFunds to S&P Select Indices as follows:
| ProFund | | Current Index | | New Index | |
| Banks UltraSector ProFund | | Dow Jones U.S. Banks Index | | S&P Banks Select Industry Index | |
| Basic Materials UltraSector ProFund | | Dow Jones U.S. Basic Materials Index | | S&P Materials Select Sector Index | |
| Biotechnology UltraSector ProFund | | Dow Jones U.S. Biotechnology Index | | S&P Biotechnology Select Industry Index | |
| Consumer Goods UltraSector ProFund | | Dow Jones U.S. Consumer Goods Index | | S&P Consumer Staples Select Sector Index | |
320 :: Notes to Financial Statements :: January 31, 2023 (unaudited)
| ProFund | | Current Index | | New Index | |
| Consumer Services UltraSector ProFund | | Dow Jones U.S. Consumer Services | | S&P Consumer Discretionary Select Sector Index | |
| Financials UltraSector ProFund | | Dow Jones U.S. Financials Index | | S&P Financial Select Sector Index | |
| Health Care UltraSector ProFund | | Dow Jones U.S. Health Care Index | | S&P Health Care Select Sector Index | |
| Industrials UltraSector ProFund | | Dow Jones U.S. Industrials Index | | S&P Industrials Select Sector Index | |
| Oil & Gas UltraSector ProFund | | Dow Jones U.S. Oil & Gas Index | | S&P Energy Select Sector Index | |
| Oil Equipment & Services UltraSector ProFund | | Dow Jones U.S. Select Oil Equipment and Services Index | | S&P Oil & Gas Equipment & Services Select Sector Index | |
| Pharmaceuticals UltraSector ProFund | | Dow Jones U.S. Select Pharmaceuticals Index | | S&P Pharmaceuticals Select Industry Index | |
| Real Estate UltraSector ProFund | | Dow Jones U.S. Real Estate Index | | S&P Real Estate Select Sector Index | |
| Short Oil and Gas ProFund | | Dow Jones U.S. Oil & Gas Index | | S&P Energy Select Sector Index | |
| Short Real Estate ProFund | | Dow Jones U.S. Real Estate Index | | S&P Real Estate Select Sector Index | |
| Technology UltraSector ProFund | | Dow Jones U.S. Technology Index | | S&P Technology Select Sector Index | |
| Utilities UltraSector ProFund | | Dow Jones U.S. Utilities Index | | S&P Utilities Select Sector Index | |
These benchmark changes will also result in name changes for the following ProFunds:
| Formerly Known as: | | Current Name: | |
| | | | |
| Basic Materials UltraSector ProFund | | Materials UltraSector ProFund | |
| Consumer Goods UltraSector ProFund | | Consumer Staples UltraSector ProFund | |
| Consumer Services UltraSector ProFund | | Consumer Discretionary UltraSector Profund | |
| Oil & Gas UltraSector ProFund | | Energy UltraSector ProFund | |
| Oil Equipment & Services UltraSector ProFund | | Oil & Gas Equipment & Services UltraSector ProFund | |
| Short Oil & Gas ProFund | | Short Energy ProFund | |
The Advisor believes that the benchmark change will align these sector funds with leading S&P sector and industry indices that utilize the Global Industry Classification Standard (GICS), enabling investors to more effectively integrate them into their portfolios. The benchmark changes and corresponding ProFund VP name changes (as applicable) took effect after the market close on March 17, 2023.
Effective March 6, 2023, the Short Small-Cap ProFund underwent a 1-for-5 reverse share split, the UltraChina ProFund and the UltraShort Mid-Cap ProFund underwent a 1-for-10 reverse share split.
Effective March 13, 2023, the Short Nasdaq-100 ProFund and the UltraShort Nasdaq-100 ProFund underwent a 1-for-5 reverse share split.
The effect of the reverse share split transactions will be to divide the number of outstanding shares of the ProFund by the respective reverse split factor, with a corresponding increase in the net asset value per share. These transactions will not change the net assets of this ProFund 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 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.
Beginning March 10, 2023, and continuing over the next several days, multiple financial institutions experienced liquidity events. Specifically, both SVB Financial Group (SIVB) and Signature Bank of New York (SBNY) entered receivership of the Federal Deposit Insurance Corporation (FDIC), while the long-term outlooks of certain other financial institutions were downgraded. Certain ProFunds own common shares of one or more of these financial institutions as of the reporting date. No ProFund owned a position greater than 1.34% of net assets, combined between both securities, above, as of the reporting date. As it is too early to determine the long-term result of these events and given the recent additional volatility in this sector of the market, the Advisor is carefully monitoring these events as they evolve and is pursuing investment strategies that it believes to be in the best interest of ProFunds' shareholders consistent with each ProFund's investment objective. Beginning on March 10, 2023 and March 13, 2023, both SIVB and SBNY, respectively, were valued at $0.00 by each ProFund holding shares of these securities.
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 additional subsequent events to report that would have a material impact on the ProFunds' financial statements.
January 31, 2023 (unaudited) :: Board Approval of Investment Advisory Agreement :: 321
At a meeting held on June 8, 2022, the Board of Trustees (the "Board") of ProFunds (the "Trust") considered the initial approval of the Investment Advisory Agreement (the "Investment Advisory Agreement") between the Trust and ProFund Advisors LLC (the "Advisor") on behalf of the Bitcoin Strategy ProFund (the "New Fund").
In response to a request from the Independent Trustees, the Advisor provided information for the Board to consider relating to the approval of the Investment Advisory Agreement, including information that addressed, among other things: (i) the nature, extent, and quality of the services that were 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 Advisor in managing other index-based Funds; (iv) the extent to which economies of scale might be realized as the New Fund grows and whether fee levels reflect economies of scale, if any, for the benefit of the New Fund's shareholders; and (v) other benefits to the Advisor and/or its affiliates from the relationship to the New Fund. It was noted that certain of this information had been previously provided as part of the Annual 15c Response.
The Independent Trustees consulted with Independent Trustee Counsel concerning their responsibilities under state and federal law with respect to their consideration of the approval of the Investment Advisory Agreement and other agreements with respect to the New Fund. It was noted that the Independent Trustees requested, and received, information from the Advisor concerning the New Fund.
In response to the request from the Independent Trustees, the Advisor provided information and reports relevant to the approval of the Investment Advisory Agreement, including, among other things: (i) information about the advisory services to be provided by the Advisor with respect to the New Fund; (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 New Fund; (iv) information regarding the proposed contractual fees with respect to the New Fund; (v) comparative industry fee data; (vi) information regarding the Advisor's trade allocation and best execution policies and procedures; (vii) information about the financial condition of the Advisor; (viii) information regarding how the Advisor expects to monitor the New Fund's compliance with regulatory requirements and Trust procedures; (ix) the Advisor's reputation, expertise and resources; and (x) information regarding the New Fund's exposure to Bitcoin and the Advisor's familiarity with digital assets and Bitcoin in particular, as well as processes relating to assessing risk and liquidity with respect to investments in Bitcoin futures, among other things. The Trustees retained the services of an independent consultant to assist in selecting a universe of peer group funds with similar investment strategies, as well as to help them in evaluating information with respect to certain aspects of their review, including their review of the reasonableness of fees proposed to be paid by the New Fund.
In evaluating this information, the Board was advised by legal counsel to the New Fund, and the Independent Trustees were advised separately by Independent Trustee Counsel. In its deliberations, the Board did not identify any single factor as all-important or controlling and individual Trustees did not necessarily attribute the same weight or importance to each factor.
Nature, Extent and Quality of the Advisor's Services
The Board reviewed the nature, extent and quality of the investment advisory services to be performed by the Advisor with respect to the New Fund. The Board focused on the quality of the personnel and operations at the Advisor and the systems and processes required to manage the New Fund effectively. In particular, the Board considered the following:
| ● | the investment objective of the New Fund and the Advisor's description of the skills needed to manage the New Fund; |
| ● | the key features of the New Fund, including investment strategies of the New Fund; |
| ● | the fact that to maintain exposure consistent with the New Fund's daily investment objective, the New Fund needs to be rebalanced each day, an activity not typical of traditional mutual fund or index funds; |
| ● | 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 New Fund; |
| ● | the structure of the portfolio staff compensation program and the incentives it is intended to provide; |
| ● | the collateral, credit and cash management functions at the Advisor; |
| ● | the Advisor's familiarity with digital assets and Bitcoin in particular, as well as processes related to assessing risk and liquidity with respect to investments in Bitcoin futures; |
| ● | the Advisor's familiarity with the market for Bitcoin futures and its ability to manage the New Fund in that market; |
| ● | the appropriateness of investing in Bitcoin-related instruments by the New Fund as an open-end investment company; |
| ● | the Advisor's ability to monitor compliance with the liquidity rule, derivatives rule and valuation requirements, among other things; |
| ● | significant investment in personnel and state-of-the-art technology that the Advisor has made over the course of several years; |
| ● | the Advisor's ability to monitor and avoid potential fraud or manipulation of the underlying Bitcoin markets and its potential influence on the market for Bitcoin futures, and |
| ● | information regarding allocation of existing brokerage and the selection of counterparties for the New Fund's portfolio transactions. |
The Board considered that the Advisor will oversee the operations of the New Fund, including oversight of the New Fund's service providers, and will provide compliance services to the New Fund.
Based upon its review, the Board, including all of the Independent Trustees, concluded that (i) the investment advisory services to be provided by the Advisor with respect to the New Fund were expected to be of high quality, (ii) the Advisor has successfully achieved the investment goals of the existing operational Funds in the Trust, and (iii) it was generally satisfied with the nature, quality and extent of services expected to be provided to the New Fund.
322 :: Board Approval of Investment Advisory Agreement :: January 31, 2023 (unaudited)
Comparison of Services and Fees
At the request of the Independent Trustees, 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 to be provided to the New Fund by or at the expense of the Advisor, the costs of these services and the comparability to the fees paid by other investment companies that gain portfolio exposure by investing a portion of their respective assets in wholly-owned subsidiaries organized under the laws of the Cayman Islands and share similar pricing characteristics to the New Fund. This information included comparative fee information prepared by an independent consultant. The Board discussed the methodology used to prepare the comparative fee data for the New Fund and the potential limitations of such data, noting that the New Fund is one of the first of its kind, making comparisons difficult. The Advisor also presented information about the significant drivers of cost, as well as the impact of certain costs on fees and expenses directly related to the investment strategy of the New Fund.
The Board reviewed information prepared by the independent consultant comparing management fee and expense information for the New Fund to that of a peer group of funds (the "Peer Group") determined by the consultant as well as to the relevant fund category determined by the consultant. The Board noted the difficulty in compiling the Peer Group because the New Fund is among the first of its kind. Notwithstanding this difficulty, the Board found the comparative information it received to be useful in its evaluation of the reasonableness of the Advisor's proposed fees. The Board also considered the fee waiver and/or expense reimbursement arrangements in place for the New Fund.
The Board recognized that it is difficult to make comparisons of fees across fund complexes because there may be variations in the services that are included in the fees paid by other funds. The Board concluded that the New Fund's advisory fee rates were reasonable given the services proposed to be provided and the fees charged by other funds in the Peer Group.
Profitability
The Board noted that the New Fund had not yet started operations, so that it could not yet evaluate the Advisor's profitability related to the New Fund. It was noted that each year, as part of its annual contract renewal process, the Trustees discuss the Advisor's profit margin, including the methodology used in the Advisor's profitability analysis, and receive information provided by the Advisor relating to its financial condition and overall profitability related to its management of the funds in the fund complex.
The Independent Trustees met in Executive Session with Independent Trustee Counsel to discuss and evaluate the information provided by the Advisor and the independent consultant.
The Board considered and discussed with representatives of the Advisor the significant drivers of cost incurred by or expected to be incurred by the Advisor in managing the New Fund, including, but not limited to, intellectual capital, regulatory compliance and entrepreneurial risk, and considered the costs that investors likely would incur if they independently sought to achieve the objectives of the New Fund.
Investment Performance of the Fund and the Advisor
The Trustees noted that the New Fund had not yet commenced operations and, as such, there was no performance information for the New Fund to consider. The Trustees notes, however, the Advisor's performance record in managing other Funds that seek to track the performance of a benchmark index.
Economies of Scale
The Board considered the New Fund's fee arrangements with the Advisor. The Board considered that the New Fund will pay the Advisor an annual investment advisory fee of 0.45% of average daily net assets. The Board considered that, subject to the condition that the aggregate daily net assets of the Trust be equal to or greater than $10 billion, the Advisor has agreed to reduce the New 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.
Other Benefits
The Board also considered the Advisor's non-advisory services, including those to be performed under a separate Management Services Agreement. The Board also considered any indirect, or "fall-out," benefits of the Advisor or its affiliates to be derived from the relationship to the New Fund but concluded that such benefits were not material to their considerations.
Conclusions
The Board, including all of the Independent Trustees, concluded that it was in the best interests of the New Fund and its prospective shareholders to approve the Investment Advisory Agreement and that the terms of the Investment Advisory Agreement for the New Fund were fair and reasonable.
January 31, 2023 (unaudited) :: Board Approval of Investment Advisory Agreement :: 323
At a meeting held on September 12-13, 2022, the Board of Trustees (the "Board") of ProFunds (the "Trust") considered the annual renewal of the Investment Advisory Agreement between ProFund Advisors LLC (the "Advisor") and the Trust, 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 actively managed and are designed to meet a specified investment objective (each an "Active Fund" and, collectively, the "Active 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 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:
| ● | information about the advisory services that were being provided by the Advisor with respect to the Funds; |
| ● | biographies of the employees of the Advisor who are primarily responsible for providing investment advisory services to the Funds; |
| ● | information regarding each component of the contractual fee rates and actual fee rates for the prior fiscal year; |
| ● | information regarding advisory fees earned versus advisory fees waived for previous periods; |
| ● | performance information for prior periods; |
| ● | comparative industry fee data; |
| ● | information about fees and other amounts that were received by the Advisor and its affiliates for non-advisory services with respect to the Funds; |
| ● | information regarding the Advisor's trade allocation and best execution policies and procedures; |
| ● | information about the financial condition of the Advisor; |
| ● | information regarding how the Advisor monitors each Fund's compliance with regulatory requirements and Trust procedures; and |
| ● | 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 for each Fund (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 at which the Board took action regarding the renewal of the Advisory Agreement, 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 were expected to 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:
| ● | 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; |
| ● | the key 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; |
| ● | 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; |
| ● | 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; |
| ● | the structure of the portfolio staff compensation program and the incentives it is intended to provide; |
| ● | the collateral, credit and cash management functions at the Advisor and the enhancements made in these areas; |
324 :: Board Approval of Investment Advisory Agreement :: January 31, 2023 (unaudited)
| ● | 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; |
| ● | the Advisor's ability to monitor compliance with the Securities and Exchange Commission's liquidity rule, derivatives rule and valuation requirements, among other applicable regulatory requirements; |
| ● | a significant investment in personnel and state-of-the-art technology that the Advisor has made over the course of several years and, recently, instituting certain technological upgrades that would generally improve capacity as well as technological upgrades that have continued to contribute to successful remote working conditions during the COVID-19 pandemic; |
| ● | for certain Bitcoin-linked Funds, the Advisor's familiarity with digital assets and Bitcoin in particular, as well as processes related to assessing risk and liquidity with respect to investments in Bitcoin futures, the Advisor's familiarity with the market for Bitcoin futures and its ability to manage the Funds and obtain appropriate exposure in that market, and the potential benefits of a futures-based approach; and |
| ● | information regarding allocation of Fund brokerage and the selection of counterparties for Fund portfolio transactions, as well as the Advisor's ability to negotiate generally favorable terms 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 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, 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 certain 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 fees. 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 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, 2022, 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
January 31, 2023 (unaudited) :: Board Approval of Investment Advisory Agreement :: 325
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.
With regard to the Active Funds, the Board considered that, for the one-year, three-year, five-year and ten-year periods ended June 30, 2022, the Access Flex Bear High Yield ProFund underperformed its Peer Group and benchmark index. In regard to the Access Flex High Yield ProFund, the Board considered that for each of the one-year, three-year and five-year periods ended June 30, 2022, the Fund outperformed its Peer Group and benchmark index, and underperformed its Peer Group and benchmark index for the ten-year period ended June 30, 2022.
With regard to the Access VP High Yield Fund, the Board noted that for each of the one-year-, three-year, five-year and ten-year periods ended June 30, 2022, the Fund outperformed its Peer Group. The Fund outperformed its benchmark index for the one-year period and underperformed its benchmark index for the three-year, five-year and ten-year periods.
With regard to the Bitcoin Strategy ProFund, the Board noted that for the since inception period ended June 30, 2022, the Fund slightly outperformed its benchmark index and Peer Group average and universe average.
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 and discussed with representatives of the Advisor 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 and discussed with representatives of the Advisor 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 Independent 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 Advisor an annual investment advisory fee of 0.75% of average daily net assets (other than the Ultra Japan ProFund and the UltraShort Japan ProFund, each of which pay 0.90%, the Nasdaq-100 ProFund which pays 0.70%, the ProFund V.P. U.S. Government Plus, which pays 0.50% and the Bitcoin Strategy ProFund which pays 0.45%).
The Board considered that, subject to the condition that the aggregate daily net assets 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 considered that for the periods presented, none of the Funds were subject to advisory fee reductions as a result of breakpoint fee reductions.
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 as the Advisor needs to account for significant asset flows in and out of the 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.
326 :: Liquidity Risk Management Program :: January 31, 2023 (unaudited)
ProFunds (the "Trust") has implemented a liquidity risk management program ("Liquidity Program") to identify illiquid investments pursuant to Rule 22e-4 of the Investment Company Act of 1940, as amended. The Board of Trustees of the Trust ("the Board") has approved the designation of ProFund Advisors LLC (the "Program Administrator") to administer the Trust's Liquidity Program, subject to the oversight of the Board.
On September 12-13, 2022, during a meeting of the Board, the Chief Compliance Officer of the Trust provided to the Board the annual report on the Trust's Liquidity Program (the "Annual Liquidity Report"). The Annual Liquidity Report, which covered the period from July 1, 2021 through June 30, 2022, addressed the operation of the Trust's Liquidity Program and assessed the adequacy and effectiveness of the Liquidity Program's implementation. The Annual Liquidity Report affirmed that the Program Administrator believes that: (1) the Liquidity Program continues to be reasonably designed to effectively assess and manage each Fund's liquidity risk; (2) each Fund's liquidity risk continues to be appropriate in light of the Fund's investment objective and strategies and each Fund's investment strategies continue to be appropriate for an open-end management investment company; and (3) the Liquidity Program has been adequately and effectively implemented with respect to each Fund during the reporting period. The Annual Liquidity Report also affirmed that there have been no material changes to the Liquidity Program since its initial approval and that no material changes were being recommended at that time.
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 lists of portfolio holdings with the Commission for the first and third quarters of each fiscal year on Form N-PORT (and successor Forms). 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.
01/23
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, 2023 (unaudited)
Common Stocks (70.9%)
| | | Shares | | | Value | |
| 3M Co. (Industrial Conglomerates) | | | 411 | | | $ | 47,298 | |
| A.O. Smith Corp. (Building Products) | | | 94 | | | | 6,364 | |
| Abbott Laboratories (Health Care Equipment & Supplies) | | | 1,298 | | | | 143,494 | |
| AbbVie, Inc. (Biotechnology) | | | 1,315 | | | | 194,291 | |
| Accenture PLC - Class A (IT Services) | | | 468 | | | | 130,595 | |
| Activision Blizzard, Inc. (Entertainment) | | | 530 | | | | 40,582 | |
| Adobe, Inc.* (Software) | | | 345 | | | | 127,767 | |
| Advance Auto Parts, Inc. (Specialty Retail) | | | 44 | | | | 6,700 | |
| Advanced Micro Devices, Inc.* (Semiconductors & Semiconductor Equipment) | | | 1,200 | | | | 90,180 | |
| Aflac, Inc. (Insurance) | | | 421 | | | | 30,944 | |
| Agilent Technologies, Inc. (Life Sciences Tools & Services) | | | 220 | | | | 33,458 | |
| Air Products & Chemicals, Inc. (Chemicals) | | | 165 | | | | 52,884 | |
| Akamai Technologies, Inc.* (IT Services) | | | 117 | | | | 10,407 | |
| Alaska Air Group, Inc.* (Airlines) | | | 95 | | | | 4,877 | |
| Albemarle Corp. (Chemicals) | | | 87 | | | | 24,486 | |
| Alexandria Real Estate Equities, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 111 | | | | 17,842 | |
| Align Technology, Inc.* (Health Care Equipment & Supplies) | | | 54 | | | | 14,565 | |
| Allegion PLC (Building Products) | | | 65 | | | | 7,641 | |
| Alliant Energy Corp. (Electric Utilities) | | | 187 | | | | 10,104 | |
| Alphabet, Inc.* - Class A (Interactive Media & Services) | | | 4,443 | | | | 439,145 | |
| Alphabet, Inc.* - Class C (Interactive Media & Services) | | | 3,939 | | | | 393,388 | |
| Altria Group, Inc. (Tobacco) | | | 1,333 | | | | 60,038 | |
| Amazon.com, Inc.* (Internet & Direct Marketing Retail) | | | 6,601 | | | | 680,762 | |
| Amcor PLC (Containers & Packaging) | | | 1,109 | | | | 13,375 | |
| Ameren Corp. (Multi-Utilities) | | | 193 | | | | 16,766 | |
| American Airlines Group, Inc.* (Airlines) | | | 486 | | | | 7,844 | |
| American Electric Power Co., Inc. (Electric Utilities) | | | 382 | | | | 35,893 | |
| American Express Co. (Consumer Finance) | | | 444 | | | | 77,670 | |
| American International Group, Inc. (Insurance) | | | 553 | | | | 34,961 | |
| American Tower Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 345 | | | | 77,070 | |
| American Water Works Co., Inc. (Water Utilities) | | | 135 | | | | 21,126 | |
| Ameriprise Financial, Inc. (Capital Markets) | | | 79 | | | | 27,659 | |
| AmerisourceBergen Corp. (Health Care Providers & Services) | | | 121 | | | | 20,444 | |
| AMETEK, Inc. (Electrical Equipment) | | | 171 | | | | 24,781 | |
| Amgen, Inc. (Biotechnology) | | | 397 | | | | 100,203 | |
| Amphenol Corp. - Class A (Electronic Equipment, Instruments & Components) | | | 442 | | | | 35,259 | |
| Analog Devices, Inc. (Semiconductors & Semiconductor Equipment) | | | 383 | | | | 65,673 | |
| ANSYS, Inc.* (Software) | | | 65 | | | | 17,313 | |
| Aon PLC (Insurance) | | | 155 | | | | 49,395 | |
| APA Corp. (Oil, Gas & Consumable Fuels) | | | 239 | | | | 10,595 | |
| Apple, Inc. (Technology Hardware, Storage & Peripherals) | | | 11,123 | | | | 1,604,938 | |
| Applied Materials, Inc. (Semiconductors & Semiconductor Equipment) | | | 639 | | | | 71,242 | |
| Aptiv PLC* (Auto Components) | | | 202 | | | | 22,844 | |
| Arch Capital Group, Ltd.* (Insurance) | | | 275 | | | | 17,696 | |
| Archer-Daniels-Midland Co. (Food Products) | | | 409 | | | | 33,886 | |
| Arista Networks, Inc.* (Communications Equipment) | | | 184 | | | | 23,188 | |
| Arthur J. Gallagher & Co. (Insurance) | | | 156 | | | | 30,532 | |
| Assurant, Inc. (Insurance) | | | 39 | | | | 5,171 | |
| AT&T, Inc. (Diversified Telecommunication Services) | | | 5,302 | | | | 108,002 | |
| Atmos Energy Corp. (Gas Utilities) | | | 105 | | | | 12,342 | |
| Autodesk, Inc.* (Software) | | | 161 | | | | 34,641 | |
| Automatic Data Processing, Inc. (IT Services) | | | 308 | | | | 69,549 | |
| AutoZone, Inc.* (Specialty Retail) | | | 13 | | | | 31,705 | |
| AvalonBay Communities, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 105 | | | | 18,631 | |
| Avery Dennison Corp. (Containers & Packaging) | | | 60 | | | | 11,366 | |
| Baker Hughes Co. (Energy Equipment & Services) | | | 746 | | | | 23,678 | |
| Ball Corp. (Containers & Packaging) | | | 234 | | | | 13,628 | |
| Bank of America Corp. (Banks) | | | 5,192 | | | | 184,212 | |
| Bath & Body Works, Inc. (Specialty Retail) | | | 170 | | | | 7,822 | |
| Baxter International, Inc. (Health Care Equipment & Supplies) | | | 375 | | | | 17,134 | |
| Becton, Dickinson & Co. (Health Care Equipment & Supplies) | | | 212 | | | | 53,471 | |
| Berkshire Hathaway, Inc.* - Class B (Diversified Financial Services) | | | 1,340 | | | | 417,437 | |
| Best Buy Co., Inc. (Specialty Retail) | | | 149 | | | | 13,219 | |
| Biogen, Inc.* (Biotechnology) | | | 107 | | | | 31,126 | |
| Bio-Rad Laboratories, Inc.* - Class A (Life Sciences Tools & Services) | | | 16 | | | | 7,479 | |
| Bio-Techne Corp. (Life Sciences Tools & Services) | | | 116 | | | | 9,241 | |
| BlackRock, Inc. - Class A (Capital Markets) | | | 111 | | | | 84,272 | |
| Booking Holdings, Inc.* (Hotels, Restaurants & Leisure) | | | 29 | | | | 70,589 | |
| BorgWarner, Inc. (Auto Components) | | | 175 | | | | 8,274 | |
| Boston Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 107 | | | | 7,976 | |
| Boston Scientific Corp.* (Health Care Equipment & Supplies) | | | 1,065 | | | | 49,256 | |
| Bristol-Myers Squibb Co. (Pharmaceuticals) | | | 1,582 | | | | 114,932 | |
| Broadcom, Inc. (Semiconductors & Semiconductor Equipment) | | | 301 | | | | 176,088 | |
| Broadridge Financial Solutions, Inc. (IT Services) | | | 87 | | | | 13,081 | |
| Brown & Brown, Inc. (Insurance) | | | 175 | | | | 10,248 | |
| Brown-Forman Corp. - Class B (Beverages) | | | 136 | | | | 9,055 | |
| C.H. Robinson Worldwide, Inc. (Air Freight & Logistics) | | | 87 | | | | 8,715 | |
| Cadence Design Systems, Inc.* (Software) | | | 203 | | | | 37,114 | |
| Caesars Entertainment, Inc.* (Hotels, Restaurants & Leisure) | | | 159 | | | | 8,278 | |
| Camden Property Trust (Equity Real Estate Investment Trusts (REITs)) | | | 80 | | | | 9,857 | |
See accompanying notes to schedules of portfolio investments.
Bull ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Campbell Soup Co. (Food Products) | | | 149 | | | $ | 7,738 | |
| Capital One Financial Corp. (Consumer Finance) | | | 284 | | | | 33,796 | |
| Cardinal Health, Inc. (Health Care Providers & Services) | | | 195 | | | | 15,064 | |
| CarMax, Inc.* (Specialty Retail) | | | 117 | | | | 8,243 | |
| Carnival Corp.* - Class A (Hotels, Restaurants & Leisure) | | | 747 | | | | 8,083 | |
| Carrier Global Corp. (Building Products) | | | 622 | | | | 28,320 | |
| Catalent, Inc.* (Pharmaceuticals) | | | 134 | | | | 7,176 | |
| Caterpillar, Inc. (Machinery) | | | 387 | | | | 97,637 | |
| Cboe Global Markets, Inc. (Capital Markets) | | | 79 | | | | 9,708 | |
| CBRE Group, Inc.* - Class A (Real Estate Management & Development) | | | 235 | | | | 20,095 | |
| CDW Corp. (Electronic Equipment, Instruments & Components) | | | 101 | | | | 19,799 | |
| Celanese Corp. (Chemicals) | | | 75 | | | | 9,240 | |
| Centene Corp.* (Health Care Providers & Services) | | | 421 | | | | 32,097 | |
| CenterPoint Energy, Inc. (Multi-Utilities) | | | 470 | | | | 14,156 | |
| Ceridian HCM Holding, Inc.* (Software) | | | 114 | | | | 8,240 | |
| CF Industries Holdings, Inc. (Chemicals) | | | 146 | | | | 12,366 | |
| Charles River Laboratories International, Inc.* (Life Sciences Tools & Services) | | | 37 | | | | 9,000 | |
| Charter Communications, Inc.* - Class A (Media) | | | 80 | | | | 30,746 | |
| Chevron Corp. (Oil, Gas & Consumable Fuels) | | | 1,322 | | | | 230,054 | |
| Chipotle Mexican Grill, Inc.* (Hotels, Restaurants & Leisure) | | | 20 | | | | 32,928 | |
| Chubb, Ltd. (Insurance) | | | 309 | | | | 70,293 | |
| Church & Dwight Co., Inc. (Household Products) | | | 181 | | | | 14,636 | |
| Cigna Corp. (Health Care Providers & Services) | | | 227 | | | | 71,884 | |
| Cincinnati Financial Corp. (Insurance) | | | 117 | | | | 13,239 | |
| Cintas Corp. (Commercial Services & Supplies) | | | 64 | | | | 28,399 | |
| Cisco Systems, Inc. (Communications Equipment) | | | 3,055 | | | | 148,686 | |
| Citigroup, Inc. (Banks) | | | 1,442 | | | | 75,301 | |
| Citizens Financial Group, Inc. (Banks) | | | 367 | | | | 15,898 | |
| CME Group, Inc. (Capital Markets) | | | 268 | | | | 47,345 | |
| CMS Energy Corp. (Multi-Utilities) | | | 216 | | | | 13,649 | |
| Cognizant Technology Solutions Corp. - Class A (IT Services) | | | 382 | | | | 25,499 | |
| Colgate-Palmolive Co. (Household Products) | | | 622 | | | | 46,358 | |
| Comcast Corp. - Class A (Media) | | | 3,209 | | | | 126,275 | |
| Comerica, Inc. (Banks) | | | 98 | | | | 7,184 | |
| Conagra Brands, Inc. (Food Products) | | | 357 | | | | 13,277 | |
| ConocoPhillips (Oil, Gas & Consumable Fuels) | | | 926 | | | | 112,852 | |
| Consolidated Edison, Inc. (Multi-Utilities) | | | 264 | | | | 25,162 | |
| Constellation Brands, Inc. - Class A (Beverages) | | | 121 | | | | 28,014 | |
| Constellation Energy Corp. (Electric Utilities) | | | 243 | | | | 20,742 | |
| Copart, Inc.* (Commercial Services & Supplies) | | | 319 | | | | 21,249 | |
| Corning, Inc. (Electronic Equipment, Instruments & Components) | | | 567 | | | | 19,624 | |
| Corteva, Inc. (Chemicals) | | | 532 | | | | 34,287 | |
| CoStar Group, Inc.* (Professional Services) | | | 302 | | | | 23,525 | |
| Costco Wholesale Corp. (Food & Staples Retailing) | | | 329 | | | | 168,165 | |
| Coterra Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 588 | | | | 14,718 | |
| Crown Castle, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 322 | | | | 47,691 | |
| CSX Corp. (Road & Rail) | | | 1,565 | | | | 48,390 | |
| Cummins, Inc. (Machinery) | | | 106 | | | | 26,451 | |
| CVS Health Corp. (Health Care Providers & Services) | | | 977 | | | | 86,191 | |
| D.R. Horton, Inc. (Household Durables) | | | 233 | | | | 22,995 | |
| Danaher Corp. (Health Care Equipment & Supplies) | | | 488 | | | | 129,017 | |
| Darden Restaurants, Inc. (Hotels, Restaurants & Leisure) | | | 91 | | | | 13,465 | |
| DaVita, Inc.* (Health Care Providers & Services) | | | 41 | | | | 3,378 | |
| Deere & Co. (Machinery) | | | 204 | | | | 86,260 | |
| Delta Air Lines, Inc.* (Airlines) | | | 478 | | | | 18,690 | |
| DENTSPLY SIRONA, Inc. (Health Care Equipment & Supplies) | | | 161 | | | | 5,930 | |
| Devon Energy Corp. (Oil, Gas & Consumable Fuels) | | | 487 | | | | 30,798 | |
| DexCom, Inc.* (Health Care Equipment & Supplies) | | | 288 | | | | 30,842 | |
| Diamondback Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 131 | | | | 19,142 | |
| Digital Realty Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 214 | | | | 24,529 | |
| Discover Financial Services (Consumer Finance) | | | 202 | | | | 23,579 | |
| DISH Network Corp.* - Class A (Media) | | | 188 | | | | 2,705 | |
| Dollar General Corp. (Multiline Retail) | | | 168 | | | | 39,245 | |
| Dollar Tree, Inc.* (Multiline Retail) | | | 156 | | | | 23,428 | |
| Dominion Energy, Inc. (Multi-Utilities) | | | 620 | | | | 39,457 | |
| Domino's Pizza, Inc. (Hotels, Restaurants & Leisure) | | | 27 | | | | 9,531 | |
| Dover Corp. (Machinery) | | | 105 | | | | 15,942 | |
| Dow, Inc. (Chemicals) | | | 523 | | | | 31,040 | |
| DTE Energy Co. (Multi-Utilities) | | | 144 | | | | 16,757 | |
| Duke Energy Corp. (Electric Utilities) | | | 573 | | | | 58,704 | |
| DuPont de Nemours, Inc. (Chemicals) | | | 370 | | | | 27,362 | |
| DXC Technology Co.* (IT Services) | | | 172 | | | | 4,942 | |
| Eastman Chemical Co. (Chemicals) | | | 89 | | | | 7,847 | |
| Eaton Corp. PLC (Electrical Equipment) | | | 296 | | | | 48,014 | |
| eBay, Inc. (Internet & Direct Marketing Retail) | | | 404 | | | | 19,998 | |
| Ecolab, Inc. (Chemicals) | | | 184 | | | | 28,489 | |
| Edison International (Electric Utilities) | | | 284 | | | | 19,568 | |
| Edwards Lifesciences Corp.* (Health Care Equipment & Supplies) | | | 460 | | | | 35,282 | |
| Electronic Arts, Inc. (Entertainment) | | | 195 | | | | 25,093 | |
| Elevance Health, Inc. (Health Care Providers & Services) | | | 178 | | | | 88,998 | |
See accompanying notes to schedules of portfolio investments.
Bull ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Eli Lilly & Co. (Pharmaceuticals) | | | 586 | | | $ | 201,672 | |
| Emerson Electric Co. (Electrical Equipment) | | | 441 | | | | 39,787 | |
| Enphase Energy, Inc.* (Semiconductors & Semiconductor Equipment) | | | 101 | | | | 22,359 | |
| Entergy Corp. (Electric Utilities) | | | 152 | | | | 16,459 | |
| EOG Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 437 | | | | 57,793 | |
| EPAM Systems, Inc.* (IT Services) | | | 43 | | | | 14,304 | |
| EQT Corp. (Oil, Gas & Consumable Fuels) | | | 274 | | | | 8,952 | |
| Equifax, Inc. (Professional Services) | | | 91 | | | | 20,220 | |
| Equinix, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 68 | | | | 50,193 | |
| Equity Residential (Equity Real Estate Investment Trusts (REITs)) | | | 252 | | | | 16,040 | |
| Essex Property Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 48 | | | | 10,851 | |
| Etsy, Inc.* (Internet & Direct Marketing Retail) | | | 93 | | | | 12,795 | |
| Everest Re Group, Ltd. (Insurance) | | | 29 | | | | 10,141 | |
| Evergy, Inc. (Electric Utilities) | | | 171 | | | | 10,713 | |
| Eversource Energy (Electric Utilities) | | | 259 | | | | 21,323 | |
| Exelon Corp. (Electric Utilities) | | | 739 | | | | 31,178 | |
| Expedia Group, Inc.* (Hotels, Restaurants & Leisure) | | | 112 | | | | 12,802 | |
| Expeditors International of Washington, Inc. (Air Freight & Logistics) | | | 118 | | | | 12,762 | |
| Extra Space Storage, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 99 | | | | 15,625 | |
| Exxon Mobil Corp. (Oil, Gas & Consumable Fuels) | | | 3,063 | | | | 355,338 | |
| F5, Inc.* (Communications Equipment) | | | 44 | | | | 6,497 | |
| FactSet Research Systems, Inc. (Capital Markets) | | | 28 | | | | 11,842 | |
| Fastenal Co. (Trading Companies & Distributors) | | | 427 | | | | 21,585 | |
| Federal Realty Investment Trust (Equity Real Estate Investment Trusts (REITs)) | | | 54 | | | | 6,023 | |
| FedEx Corp. (Air Freight & Logistics) | | | 179 | | | | 34,701 | |
| Fidelity National Information Services, Inc. (IT Services) | | | 441 | | | | 33,093 | |
| Fifth Third Bancorp (Banks) | | | 512 | | | | 18,580 | |
| First Horizon Corp. (Banks) | | | – | † | | | 9 | |
| First Republic Bank (Banks) | | | 136 | | | | 19,160 | |
| First Solar, Inc.* (Semiconductors & Semiconductor Equipment) | | | 74 | | | | 13,142 | |
| FirstEnergy Corp. (Electric Utilities) | | | 405 | | | | 16,585 | |
| Fiserv, Inc.* (IT Services) | | | 472 | | | | 50,353 | |
| FleetCor Technologies, Inc.* (IT Services) | | | 55 | | | | 11,485 | |
| FMC Corp. (Chemicals) | | | 93 | | | | 12,381 | |
| Ford Motor Co. (Automobiles) | | | 2,940 | | | | 39,719 | |
| Fortinet, Inc.* (Software) | | | 483 | | | | 25,280 | |
| Fortive Corp. (Machinery) | | | 263 | | | | 17,892 | |
| Fox Corp. - Class A (Media) | | | 227 | | | | 7,704 | |
| Fox Corp. - Class B (Media) | | | 105 | | | | 3,329 | |
| Franklin Resources, Inc. (Capital Markets) | | | 212 | | | | 6,614 | |
| Freeport-McMoRan, Inc. (Metals & Mining) | | | 1,064 | | | | 47,475 | |
| Garmin, Ltd. (Household Durables) | | | 114 | | | | 11,272 | |
| Gartner, Inc.* (IT Services) | | | 60 | | | | 20,288 | |
| GE HealthCare Technologies, Inc.* (Health Care Equipment & Supplies) | | | 271 | | | | 18,840 | |
| Gen Digital, Inc. (Software) | | | 433 | | | | 9,963 | |
| Generac Holdings, Inc.* (Electrical Equipment) | | | 47 | | | | 5,668 | |
| General Dynamics Corp. (Aerospace & Defense) | | | 168 | | | | 39,154 | |
| General Electric Co. (Industrial Conglomerates) | | | 813 | | | | 65,430 | |
| General Mills, Inc. (Food Products) | | | 441 | | | | 34,557 | |
| General Motors Co. (Automobiles) | | | 1,058 | | | | 41,601 | |
| Genuine Parts Co. (Distributors) | | | 105 | | | | 17,621 | |
| Gilead Sciences, Inc. (Biotechnology) | | | 933 | | | | 78,316 | |
| Global Payments, Inc. (IT Services) | | | 202 | | | | 22,769 | |
| Globe Life, Inc. (Insurance) | | | 67 | | | | 8,097 | |
| Halliburton Co. (Energy Equipment & Services) | | | 677 | | | | 27,906 | |
| Hartford Financial Services Group, Inc. (Insurance) | | | 236 | | | | 18,316 | |
| Hasbro, Inc. (Leisure Products) | | | 97 | | | | 5,739 | |
| HCA Healthcare, Inc. (Health Care Providers & Services) | | | 157 | | | | 40,046 | |
| Healthpeak Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 402 | | | | 11,047 | |
| Henry Schein, Inc.* (Health Care Providers & Services) | | | 101 | | | | 8,701 | |
| Hess Corp. (Oil, Gas & Consumable Fuels) | | | 206 | | | | 30,933 | |
| Hewlett Packard Enterprises Co. (Technology Hardware, Storage & Peripherals) | | | 959 | | | | 15,469 | |
| Hilton Worldwide Holdings, Inc. (Hotels, Restaurants & Leisure) | | | 202 | | | | 29,308 | |
| Hologic, Inc.* (Health Care Equipment & Supplies) | | | 186 | | | | 15,135 | |
| Honeywell International, Inc. (Industrial Conglomerates) | | | 500 | | | | 104,240 | |
| Hormel Foods Corp. (Food Products) | | | 215 | | | | 9,742 | |
| Host Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 534 | | | | 10,066 | |
| Howmet Aerospace, Inc. (Aerospace & Defense) | | | 275 | | | | 11,190 | |
| HP, Inc. (Technology Hardware, Storage & Peripherals) | | | 660 | | | | 19,232 | |
| Humana, Inc. (Health Care Providers & Services) | | | 94 | | | | 48,100 | |
| Huntington Bancshares, Inc. (Banks) | | | 1,075 | | | | 16,308 | |
| Huntington Ingalls Industries, Inc. (Aerospace & Defense) | | | 30 | | | | 6,616 | |
| IDEX Corp. (Machinery) | | | 57 | | | | 13,662 | |
| IDEXX Laboratories, Inc.* (Health Care Equipment & Supplies) | | | 61 | | | | 29,311 | |
| Illinois Tool Works, Inc. (Machinery) | | | 208 | | | | 49,097 | |
| Illumina, Inc.* (Life Sciences Tools & Services) | | | 117 | | | | 25,061 | |
| Incyte Corp.* (Biotechnology) | | | 137 | | | | 11,664 | |
| Ingersoll Rand, Inc. (Machinery) | | | 301 | | | | 16,856 | |
| Intel Corp. (Semiconductors & Semiconductor Equipment) | | | 3,071 | | | | 86,786 | |
| Intercontinental Exchange, Inc. (Capital Markets) | | | 416 | | | | 44,741 | |
See accompanying notes to schedules of portfolio investments.
Bull ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| International Business Machines Corp. (IT Services) | | | 672 | | | $ | 90,539 | |
| International Flavors & Fragrances, Inc. (Chemicals) | | | 189 | | | | 21,255 | |
| International Paper Co. (Containers & Packaging) | | | 265 | | | | 11,082 | |
| Intuit, Inc. (Software) | | | 210 | | | | 88,761 | |
| Intuitive Surgical, Inc.* (Health Care Equipment & Supplies) | | | 263 | | | | 64,616 | |
| Invesco, Ltd. (Capital Markets) | | | 340 | | | | 6,293 | |
| Invitation Homes, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 434 | | | | 14,105 | |
| IQVIA Holdings, Inc.* (Life Sciences Tools & Services) | | | 138 | | | | 31,659 | |
| Iron Mountain, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 217 | | | | 11,844 | |
| J.B. Hunt Transport Services, Inc. (Road & Rail) | | | 61 | | | | 11,532 | |
| Jack Henry & Associates, Inc. (IT Services) | | | 54 | | | | 9,725 | |
| Jacobs Solutions, Inc. (Professional Services) | | | 95 | | | | 11,737 | |
| Johnson & Johnson (Pharmaceuticals) | | | 1,944 | | | | 317,688 | |
| Johnson Controls International PLC (Building Products) | | | 512 | | | | 35,619 | |
| JPMorgan Chase & Co. (Banks) | | | 2,181 | | | | 305,253 | |
| Juniper Networks, Inc. (Communications Equipment) | | | 242 | | | | 7,817 | |
| Kellogg Co. (Food Products) | | | 190 | | | | 13,030 | |
| Keurig Dr Pepper, Inc. (Beverages) | | | 633 | | | | 22,332 | |
| KeyCorp (Banks) | | | 696 | | | | 13,356 | |
| Keysight Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 132 | | | | 23,674 | |
| Kimberly-Clark Corp. (Household Products) | | | 250 | | | | 32,503 | |
| Kimco Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 461 | | | | 10,354 | |
| Kinder Morgan, Inc. (Oil, Gas & Consumable Fuels) | | | 1,473 | | | | 26,956 | |
| KLA Corp. (Semiconductors & Semiconductor Equipment) | | | 106 | | | | 41,603 | |
| L3Harris Technologies, Inc. (Aerospace & Defense) | | | 141 | | | | 30,290 | |
| Laboratory Corp. of America Holdings (Health Care Providers & Services) | | | 66 | | | | 16,640 | |
| Lam Research Corp. (Semiconductors & Semiconductor Equipment) | | | 101 | | | | 50,510 | |
| Lamb Weston Holding, Inc. (Food Products) | | | 107 | | | | 10,688 | |
| Las Vegas Sands Corp.* (Hotels, Restaurants & Leisure) | | | 245 | | | | 14,455 | |
| Leidos Holdings, Inc. (Professional Services) | | | 102 | | | | 10,082 | |
| Lennar Corp. - Class A (Household Durables) | | | 189 | | | | 19,354 | |
| Lincoln National Corp. (Insurance) | | | 115 | | | | 4,074 | |
| Linde PLC (Chemicals) | | | 368 | | | | 121,786 | |
| Live Nation Entertainment, Inc.* (Entertainment) | | | 107 | | | | 8,612 | |
| LKQ Corp. (Distributors) | | | 189 | | | | 11,143 | |
| Lockheed Martin Corp. (Aerospace & Defense) | | | 174 | | | | 80,607 | |
| Loews Corp. (Insurance) | | | 147 | | | | 9,038 | |
| Lowe's Cos., Inc. (Specialty Retail) | | | 462 | | | | 96,212 | |
| Lumen Technologies, Inc. (Diversified Telecommunication Services) | | | 710 | | | | 3,728 | |
| LyondellBasell Industries N.V. - Class A (Chemicals) | | | 189 | | | | 18,274 | |
| M&T Bank Corp. (Banks) | | | 129 | | | | 20,124 | |
| Marathon Oil Corp. (Oil, Gas & Consumable Fuels) | | | 473 | | | | 12,993 | |
| Marathon Petroleum Corp. (Oil, Gas & Consumable Fuels) | | | 348 | | | | 44,725 | |
| MarketAxess Holdings, Inc. (Capital Markets) | | | 28 | | | | 10,188 | |
| Marriott International, Inc. - Class A (Hotels, Restaurants & Leisure) | | | 202 | | | | 35,116 | |
| Marsh & McLennan Cos., Inc. (Insurance) | | | 369 | | | | 64,542 | |
| Martin Marietta Materials, Inc. (Construction Materials) | | | 46 | | | | 16,543 | |
| Masco Corp. (Building Products) | | | 168 | | | | 8,938 | |
| Mastercard, Inc. - Class A (IT Services) | | | 631 | | | | 233,849 | |
| Match Group, Inc.* (Interactive Media & Services) | | | 208 | | | | 11,257 | |
| McCormick & Co., Inc. (Food Products) | | | 187 | | | | 14,047 | |
| McDonald's Corp. (Hotels, Restaurants & Leisure) | | | 544 | | | | 145,465 | |
| McKesson Corp. (Health Care Providers & Services) | | | 106 | | | | 40,140 | |
| Medtronic PLC (Health Care Equipment & Supplies) | | | 989 | | | | 82,769 | |
| Merck & Co., Inc. (Pharmaceuticals) | | | 1,886 | | | | 202,575 | |
| Meta Platforms, Inc.* - Class A (Interactive Media & Services) | | | 1,673 | | | | 249,227 | |
| MetLife, Inc. (Insurance) | | | 490 | | | | 35,780 | |
| Mettler-Toledo International, Inc.* (Life Sciences Tools & Services) | | | 16 | | | | 24,527 | |
| MGM Resorts International (Hotels, Restaurants & Leisure) | | | 238 | | | | 9,856 | |
| Microchip Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 410 | | | | 31,824 | |
| Micron Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 809 | | | | 48,783 | |
| Microsoft Corp. (Software) | | | 5,544 | | | | 1,373,858 | |
| Mid-America Apartment Communities, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 85 | | | | 14,171 | |
| Moderna, Inc.* (Biotechnology) | | | 246 | | | | 43,311 | |
| Mohawk Industries, Inc.* (Household Durables) | | | 39 | | | | 4,682 | |
| Molina Healthcare, Inc.* (Health Care Providers & Services) | | | 43 | | | | 13,409 | |
| Molson Coors Beverage Co. - Class B (Beverages) | | | 140 | | | | 7,361 | |
| Mondelez International, Inc. - Class A (Food Products) | | | 1,015 | | | | 66,422 | |
| Monolithic Power Systems, Inc. (Semiconductors & Semiconductor Equipment) | | | 34 | | | | 14,503 | |
| Monster Beverage Corp.* (Beverages) | | | 283 | | | | 29,455 | |
| Moody's Corp. (Capital Markets) | | | 117 | | | | 37,762 | |
| Morgan Stanley (Capital Markets) | | | 982 | | | | 95,579 | |
See accompanying notes to schedules of portfolio investments.
Bull ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Motorola Solutions, Inc. (Communications Equipment) | | | 124 | | | $ | 31,869 | |
| MSCI, Inc. (Capital Markets) | | | 60 | | | | 31,894 | |
| Nasdaq, Inc. (Capital Markets) | | | 251 | | | | 15,108 | |
| NetApp, Inc. (Technology Hardware, Storage & Peripherals) | | | 162 | | | | 10,729 | |
| Netflix, Inc.* (Entertainment) | | | 331 | | | | 117,128 | |
| Newell Brands, Inc. (Household Durables) | | | 282 | | | | 4,501 | |
| Newmont Corp. (Metals & Mining) | | | 591 | | | | 31,282 | |
| News Corp. - Class A (Media) | | | 286 | | | | 5,794 | |
| News Corp. - Class B (Media) | | | 88 | | | | 1,799 | |
| NextEra Energy, Inc. (Electric Utilities) | | | 1,478 | | | | 110,303 | |
| NIKE, Inc. - Class B (Textiles, Apparel & Luxury Goods) | | | 937 | | | | 119,308 | |
| NiSource, Inc. (Multi-Utilities) | | | 304 | | | | 8,436 | |
| Nordson Corp. (Machinery) | | | 40 | | | | 9,732 | |
| Norfolk Southern Corp. (Road & Rail) | | | 172 | | | | 42,279 | |
| Northern Trust Corp. (Capital Markets) | | | 155 | | | | 15,030 | |
| Northrop Grumman Corp. (Aerospace & Defense) | | | 107 | | | | 47,940 | |
| Norwegian Cruise Line Holdings, Ltd.*(a) (Hotels, Restaurants & Leisure) | | | 316 | | | | 4,806 | |
| NRG Energy, Inc. (Electric Utilities) | | | 172 | | | | 5,886 | |
| Nucor Corp. (Metals & Mining) | | | 191 | | | | 32,283 | |
| NVIDIA Corp. (Semiconductors & Semiconductor Equipment) | | | 1,852 | | | | 361,826 | |
| NVR, Inc.* (Household Durables) | | | 3 | | | | 15,810 | |
| NXP Semiconductors N.V. (Semiconductors & Semiconductor Equipment) | | | 193 | | | | 35,572 | |
| Occidental Petroleum Corp. (Oil, Gas & Consumable Fuels) | | | 541 | | | | 35,051 | |
| Old Dominion Freight Line, Inc. (Road & Rail) | | | 67 | | | | 22,327 | |
| Omnicom Group, Inc. (Media) | | | 152 | | | | 13,070 | |
| ON Semiconductor Corp.* (Semiconductors & Semiconductor Equipment) | | | 322 | | | | 23,651 | |
| ONEOK, Inc. (Oil, Gas & Consumable Fuels) | | | 332 | | | | 22,735 | |
| Oracle Corp. (Software) | | | 1,143 | | | | 101,110 | |
| O'Reilly Automotive, Inc.* (Specialty Retail) | | | 46 | | | | 36,448 | |
| Organon & Co. (Pharmaceuticals) | | | 190 | | | | 5,725 | |
| Otis Worldwide Corp. (Machinery) | | | 310 | | | | 25,491 | |
| PACCAR, Inc. (Machinery) | | | 258 | | | | 28,202 | |
| Packaging Corp. of America (Containers & Packaging) | | | 68 | | | | 9,704 | |
| Paramount Global - Class B (Media) | | | 378 | | | | 8,754 | |
| Parker-Hannifin Corp. (Machinery) | | | 96 | | | | 31,296 | |
| Paychex, Inc. (IT Services) | | | 239 | | | | 27,691 | |
| Paycom Software, Inc.* (Software) | | | 36 | | | | 11,662 | |
| PayPal Holdings, Inc.* (IT Services) | | | 847 | | | | 69,022 | |
| Pentair PLC (Machinery) | | | 123 | | | | 6,812 | |
| PepsiCo, Inc. (Beverages) | | | 1,025 | | | | 175,295 | |
| PerkinElmer, Inc. (Life Sciences Tools & Services) | | | 94 | | | | 12,928 | |
| Pfizer, Inc. (Pharmaceuticals) | | | 4,175 | | | | 184,368 | |
| PG&E Corp.* (Electric Utilities) | | | 1,200 | | | | 19,080 | |
| Philip Morris International, Inc. (Tobacco) | | | 1,154 | | | | 120,293 | |
| Phillips 66 (Oil, Gas & Consumable Fuels) | | | 352 | | | | 35,295 | |
| Pinnacle West Capital Corp. (Electric Utilities) | | | 83 | | | | 6,188 | |
| Pioneer Natural Resources Co. (Oil, Gas & Consumable Fuels) | | | 177 | | | | 40,772 | |
| Pool Corp. (Distributors) | | | 29 | | | | 11,183 | |
| PPG Industries, Inc. (Chemicals) | | | 175 | | | | 22,810 | |
| PPL Corp. (Electric Utilities) | | | 549 | | | | 16,250 | |
| Principal Financial Group, Inc. (Insurance) | | | 170 | | | | 15,734 | |
| Prologis, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 686 | | | | 88,685 | |
| Prudential Financial, Inc. (Insurance) | | | 274 | | | | 28,754 | |
| PTC, Inc.* (Software) | | | 79 | | | | 10,656 | |
| Public Service Enterprise Group, Inc. (Multi-Utilities) | | | 371 | | | | 22,976 | |
| Public Storage (Equity Real Estate Investment Trusts (REITs)) | | | 117 | | | | 35,608 | |
| PulteGroup, Inc. (Household Durables) | | | 170 | | | | 9,671 | |
| Qorvo, Inc.* (Semiconductors & Semiconductor Equipment) | | | 76 | | | | 8,258 | |
| Qualcomm, Inc. (Semiconductors & Semiconductor Equipment) | | | 834 | | | | 111,097 | |
| Quanta Services, Inc. (Construction & Engineering) | | | 107 | | | | 16,284 | |
| Quest Diagnostics, Inc. (Health Care Providers & Services) | | | 84 | | | | 12,472 | |
| Ralph Lauren Corp. (Textiles, Apparel & Luxury Goods) | | | 31 | | | | 3,839 | |
| Raymond James Financial, Inc. (Capital Markets) | | | 144 | | | | 16,239 | |
| Raytheon Technologies Corp. (Aerospace & Defense) | | | 1,093 | | | | 109,136 | |
| Realty Income Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 466 | | | | 31,609 | |
| Regency Centers Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 115 | | | | 7,662 | |
| Regeneron Pharmaceuticals, Inc.* (Biotechnology) | | | 80 | | | | 60,678 | |
| Regions Financial Corp. (Banks) | | | 696 | | | | 16,384 | |
| Republic Services, Inc. (Commercial Services & Supplies) | | | 153 | | | | 19,097 | |
| ResMed, Inc. (Health Care Equipment & Supplies) | | | 108 | | | | 24,664 | |
| Robert Half International, Inc. (Professional Services) | | | 81 | | | | 6,801 | |
| Rockwell Automation, Inc. (Electrical Equipment) | | | 85 | | | | 23,973 | |
| Rollins, Inc. (Commercial Services & Supplies) | | | 173 | | | | 6,297 | |
| Roper Technologies, Inc. (Software) | | | 79 | | | | 33,713 | |
| Ross Stores, Inc. (Specialty Retail) | | | 258 | | | | 30,493 | |
| Royal Caribbean Cruises, Ltd.* (Hotels, Restaurants & Leisure) | | | 164 | | | | 10,650 | |
| S&P Global, Inc. (Capital Markets) | | | 248 | | | | 92,986 | |
| Salesforce, Inc.* (Software) | | | 744 | | | | 124,970 | |
| SBA Communications Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 81 | | | | 24,100 | |
| Schlumberger, Ltd. (Energy Equipment & Services) | | | 1,055 | | | | 60,114 | |
See accompanying notes to schedules of portfolio investments.
Bull ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Seagate Technology Holdings PLC (Technology Hardware, Storage & Peripherals) | | | 143 | | | $ | 9,693 | |
| Sealed Air Corp. (Containers & Packaging) | | | 108 | | | | 5,914 | |
| Sempra Energy (Multi-Utilities) | | | 234 | | | | 37,517 | |
| ServiceNow, Inc.* (Software) | | | 150 | | | | 68,270 | |
| Signature Bank (Banks) | | | 47 | | | | 6,061 | |
| Simon Property Group, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 243 | | | | 31,216 | |
| Skyworks Solutions, Inc. (Semiconductors & Semiconductor Equipment) | | | 119 | | | | 13,051 | |
| Snap-on, Inc. (Machinery) | | | 39 | | | | 9,700 | |
| SolarEdge Technologies, Inc.* (Semiconductors & Semiconductor Equipment) | | | 42 | | | | 13,403 | |
| Southwest Airlines Co. (Airlines) | | | 443 | | | | 15,846 | |
| Stanley Black & Decker, Inc. (Machinery) | | | 110 | | | | 9,824 | |
| Starbucks Corp. (Hotels, Restaurants & Leisure) | | | 853 | | | | 93,096 | |
| State Street Corp. (Capital Markets) | | | 274 | | | | 25,024 | |
| Steel Dynamics, Inc. (Metals & Mining) | | | 123 | | | | 14,839 | |
| STERIS PLC (Health Care Equipment & Supplies) | | | 75 | | | | 15,488 | |
| Stryker Corp. (Health Care Equipment & Supplies) | | | 250 | | | | 63,453 | |
| SVB Financial Group* (Banks) | | | 43 | | | | 13,005 | |
| Synchrony Financial (Consumer Finance) | | | 336 | | | | 12,341 | |
| Synopsys, Inc.* (Software) | | | 114 | | | | 40,328 | |
| Sysco Corp. (Food & Staples Retailing) | | | 377 | | | | 29,202 | |
| T. Rowe Price Group, Inc. (Capital Markets) | | | 166 | | | | 19,334 | |
| Take-Two Interactive Software, Inc.* (Entertainment) | | | 117 | | | | 13,248 | |
| Tapestry, Inc. (Textiles, Apparel & Luxury Goods) | | | 180 | | | | 8,203 | |
| Targa Resources Corp. (Oil, Gas & Consumable Fuels) | | | 169 | | | | 12,678 | |
| Target Corp. (Multiline Retail) | | | 343 | | | | 59,044 | |
| TE Connectivity, Ltd. (Electronic Equipment, Instruments & Components) | | | 236 | | | | 30,007 | |
| Teledyne Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 36 | | | | 15,273 | |
| Teleflex, Inc. (Health Care Equipment & Supplies) | | | 36 | | | | 8,763 | |
| Teradyne, Inc. (Semiconductors & Semiconductor Equipment) | | | 115 | | | | 11,696 | |
| Tesla, Inc.* (Automobiles) | | | 1,996 | | | | 345,747 | |
| Texas Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 675 | | | | 119,617 | |
| Textron, Inc. (Aerospace & Defense) | | | 155 | | | | 11,292 | |
| The AES Corp. (Independent Power and Renewable Electricity Producers) | | | 497 | | | | 13,623 | |
| The Allstate Corp. (Insurance) | | | 197 | | | | 25,309 | |
| The Bank of New York Mellon Corp. (Capital Markets) | | | 548 | | | | 27,712 | |
| The Boeing Co.* (Aerospace & Defense) | | | 417 | | | | 88,821 | |
| The Charles Schwab Corp. (Capital Markets) | | | 1,134 | | | | 87,794 | |
| The Clorox Co. (Household Products) | | | 91 | | | | 13,167 | |
| The Coca-Cola Co. (Beverages) | | | 2,894 | | | | 177,459 | |
| The Cooper Cos., Inc. (Health Care Equipment & Supplies) | | | 36 | | | | 12,561 | |
| The Estee Lauder Cos., Inc. (Personal Products) | | | 172 | | | | 47,658 | |
| The Goldman Sachs Group, Inc. (Capital Markets) | | | 251 | | | | 91,818 | |
| The Hershey Co. (Food Products) | | | 109 | | | | 24,481 | |
| The Home Depot, Inc. (Specialty Retail) | | | 761 | | | | 246,693 | |
| The Interpublic Group of Cos., Inc. (Media) | | | 290 | | | | 10,573 | |
| The JM Smucker Co. - Class A (Food Products) | | | 80 | | | | 12,224 | |
| The Kraft Heinz Co. (Food Products) | | | 593 | | | | 24,034 | |
| The Kroger Co. (Food & Staples Retailing) | | | 485 | | | | 21,646 | |
| The Mosaic Co. (Chemicals) | | | 254 | | | | 12,583 | |
| The PNC Financial Services Group, Inc. (Banks) | | | 299 | | | | 49,464 | |
| The Procter & Gamble Co. (Household Products) | | | 1,763 | | | | 251,015 | |
| The Progressive Corp. (Insurance) | | | 435 | | | | 59,312 | |
| The Sherwin-Williams Co. (Chemicals) | | | 176 | | | | 41,640 | |
| The Southern Co. (Electric Utilities) | | | 810 | | | | 54,821 | |
| The TJX Cos., Inc. (Specialty Retail) | | | 864 | | | | 70,727 | |
| The Travelers Cos., Inc. (Insurance) | | | 175 | | | | 33,446 | |
| The Walt Disney Co.* (Entertainment) | | | 1,356 | | | | 147,112 | |
| The Williams Cos., Inc. (Oil, Gas & Consumable Fuels) | | | 907 | | | | 29,242 | |
| Thermo Fisher Scientific, Inc. (Life Sciences Tools & Services) | | | 292 | | | | 166,535 | |
| T-Mobile U.S., Inc.* (Wireless Telecommunication Services) | | | 444 | | | | 66,294 | |
| Tractor Supply Co. (Specialty Retail) | | | 83 | | | | 18,923 | |
| Trane Technologies PLC (Building Products) | | | 171 | | | | 30,629 | |
| TransDigm Group, Inc. (Aerospace & Defense) | | | 38 | | | | 27,275 | |
| Trimble, Inc.* (Electronic Equipment, Instruments & Components) | | | 183 | | | | 10,625 | |
| Truist Financial Corp. (Banks) | | | 988 | | | | 48,797 | |
| Tyler Technologies, Inc.* (Software) | | | 31 | | | | 10,006 | |
| Tyson Foods, Inc. - Class A (Food Products) | | | 216 | | | | 14,202 | |
| U.S. Bancorp (Banks) | | | 1,006 | | | | 50,099 | |
| UDR, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 229 | | | | 9,753 | |
| Ulta Beauty, Inc.* (Specialty Retail) | | | 37 | | | | 19,017 | |
| Union Pacific Corp. (Road & Rail) | | | 457 | | | | 93,315 | |
| United Airlines Holdings, Inc.* (Airlines) | | | 244 | | | | 11,946 | |
| United Parcel Service, Inc. - Class B (Air Freight & Logistics) | | | 543 | | | | 100,579 | |
| United Rentals, Inc.* (Trading Companies & Distributors) | | | 52 | | | | 22,930 | |
| UnitedHealth Group, Inc. (Health Care Providers & Services) | | | 695 | | | | 346,937 | |
| Universal Health Services, Inc. - Class B (Health Care Providers & Services) | | | 48 | | | | 7,114 | |
| Valero Energy Corp. (Oil, Gas & Consumable Fuels) | | | 287 | | | | 40,189 | |
| Ventas, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 298 | | | | 15,439 | |
| VeriSign, Inc.* (IT Services) | | | 68 | | | | 14,827 | |
See accompanying notes to schedules of portfolio investments.
Bull ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Verisk Analytics, Inc. (Professional Services) | | | 116 | | | $ | 21,088 | |
| Verizon Communications, Inc. (Diversified Telecommunication Services) | | | 3,125 | | | | 129,905 | |
| Vertex Pharmaceuticals, Inc.* (Biotechnology) | | | 191 | | | | 61,712 | |
| VF Corp. (Textiles, Apparel & Luxury Goods) | | | 247 | | | | 7,642 | |
| Viatris, Inc. (Pharmaceuticals) | | | 904 | | | | 10,993 | |
| VICI Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 718 | | | | 24,541 | |
| Visa, Inc. - Class A (IT Services) | | | 1,216 | | | | 279,935 | |
| Vulcan Materials Co. (Construction Materials) | | | 99 | | | | 18,150 | |
| W.R. Berkley Corp. (Insurance) | | | 153 | | | | 10,731 | |
| W.W. Grainger, Inc. (Trading Companies & Distributors) | | | 34 | | | | 20,042 | |
| Walgreens Boots Alliance, Inc. (Food & Staples Retailing) | | | 535 | | | | 19,720 | |
| Walmart, Inc. (Food & Staples Retailing) | | | 1,050 | | | | 151,064 | |
| Warner Bros Discovery, Inc.* (Entertainment) | | | 1,646 | | | | 24,394 | |
| Waste Management, Inc. (Commercial Services & Supplies) | | | 278 | | | | 43,016 | |
| Waters Corp.* (Life Sciences Tools & Services) | | | 44 | | | | 14,458 | |
| WEC Energy Group, Inc. (Multi-Utilities) | | | 234 | | | | 21,994 | |
| Wells Fargo & Co. (Banks) | | | 2,835 | | | | 132,876 | |
| Welltower, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 351 | | | | 26,339 | |
| West Pharmaceutical Services, Inc. (Life Sciences Tools & Services) | | | 55 | | | | 14,608 | |
| Western Digital Corp.* (Technology Hardware, Storage & Peripherals) | | | 237 | | | | 10,416 | |
| Westinghouse Air Brake Technologies Corp. (Machinery) | | | 135 | | | | 14,014 | |
| WestRock Co. (Containers & Packaging) | | | 190 | | | | 7,456 | |
| Weyerhaeuser Co. (Equity Real Estate Investment Trusts (REITs)) | | | 548 | | | | 18,868 | |
| Whirlpool Corp. (Household Durables) | | | 40 | | | | 6,224 | |
| Willis Towers Watson PLC (Insurance) | | | 81 | | | | 20,589 | |
| Wynn Resorts, Ltd.* (Hotels, Restaurants & Leisure) | | | 77 | | | | 7,980 | |
| Xcel Energy, Inc. (Electric Utilities) | | | 407 | | | | 27,989 | |
| Xylem, Inc. (Machinery) | | | 134 | | | | 13,937 | |
| Yum! Brands, Inc. (Hotels, Restaurants & Leisure) | | | 210 | | | | 27,407 | |
| Zebra Technologies Corp.* (Electronic Equipment, Instruments & Components) | | | 38 | | | | 12,015 | |
| Zimmer Biomet Holdings, Inc. (Health Care Equipment & Supplies) | | | 155 | | | | 19,738 | |
| Zions Bancorp (Banks) | | | 111 | | | | 5,901 | |
| Zoetis, Inc. (Pharmaceuticals) | | | 346 | | | | 57,260 | |
| TOTAL COMMON STOCKS | | | | | | | | |
| (Cost $7,460,452) | | | | | | | 25,374,131 | |
Repurchase Agreements(b)(c) (28.8%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%-4.22%, dated 1/31/23, due 2/1/23, total to be received $10,317,206 | | $ | 10,316,000 | | | $ | 10,316,000 | |
| TOTAL REPURCHASE AGREEMENTS | | | | | | | | |
| (Cost $10,316,000) | | | | | | | 10,316,000 | |
Collateral for Securities Loaned(d)(NM)
| | | Shares | | | Value | |
| Invesco Government & Agency Portfolio-Institutional Shares, 4.32%(e) | | | 4,804 | | | $ | 4,804 | |
| TOTAL COLLATERAL FOR SECURITIES LOANED (Cost $4,804) | | | | | | | 4,804 | |
| TOTAL INVESTMENT SECURITIES | | | | | | | | |
| (Cost $17,781,256) - 99.7% | | | | | | | 35,694,935 | |
| Net other assets (liabilities) - 0.3% | | | | | | | 106,614 | |
| NET ASSETS - 100.0% | | | | | | $ | 35,801,549 | |
| † | Number of shares is less than 0.50. |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $4,791. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $983,000. |
| (d) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (e) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
| NM | Not meaningful, amount is less than 0.05%. |
See accompanying notes to schedules of portfolio investments.
Bull ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Futures Contracts Purchased
| | | Number
of
Contracts | | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini S&P 500 Futures Contracts | | | 15 | | | 3/20/23 | | $ | 3,067,500 | | | $ | 91,434 | |
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 | | 2/27/23 | | | 4.93 | % | | $ | 2,083,142 | | | $ | 2,313 | |
| S&P 500 | | UBS AG | | 2/27/23 | | | 4.83 | % | | | 5,279,197 | | | | 10,627 | |
| | | | | | | | | | | $ | 7,362,339 | | | $ | 12,940 | |
| (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, 2023, 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 schedules of portfolio investments.
Bull ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Bull ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 452,320 | | | | 1.3 | % |
| Air Freight & Logistics | | | 156,757 | | | | 0.4 | % |
| Airlines | | | 59,203 | | | | 0.2 | % |
| Auto Components | | | 31,118 | | | | 0.1 | % |
| Automobiles | | | 427,067 | | | | 1.2 | % |
| Banks | | | 997,973 | | | | 2.8 | % |
| Beverages | | | 448,972 | | | | 1.3 | % |
| Biotechnology | | | 581,301 | | | | 1.6 | % |
| Building Products | | | 117,511 | | | | 0.3 | % |
| Capital Markets | | | 804,942 | | | | 2.2 | % |
| Chemicals | | | 478,730 | | | | 1.3 | % |
| Commercial Services & Supplies | | | 118,058 | | | | 0.3 | % |
| Communications Equipment | | | 218,057 | | | | 0.6 | % |
| Construction & Engineering | | | 16,284 | | | | | NM |
| Construction Materials | | | 34,693 | | | | 0.1 | % |
| Consumer Finance | | | 147,386 | | | | 0.4 | % |
| Containers & Packaging | | | 72,525 | | | | 0.2 | % |
| Distributors | | | 39,947 | | | | 0.1 | % |
| Diversified Financial Services | | | 417,437 | | | | 1.2 | % |
| Diversified Telecommunication Services | | | 241,635 | | | | 0.7 | % |
| Electric Utilities | | | 481,786 | | | | 1.3 | % |
| Electrical Equipment | | | 142,223 | | | | 0.4 | % |
| Electronic Equipment, Instruments & Components | | | 166,276 | | | | 0.5 | % |
| Energy Equipment & Services | | | 111,698 | | | | 0.3 | % |
| Entertainment | | | 376,169 | | | | 1.0 | % |
| Equity Real Estate Investment Trusts (REITs) | | | 687,736 | | | | 1.9 | % |
| Food & Staples Retailing | | | 389,797 | | | | 1.1 | % |
| Food Products | | | 278,328 | | | | 0.8 | % |
| Gas Utilities | | | 12,342 | | | | | NM |
| Health Care Equipment & Supplies | | | 834,329 | | | | 2.3 | % |
| Health Care Providers & Services | | | 851,615 | | | | 2.4 | % |
| Hotels, Restaurants & Leisure | | | 533,815 | | | | 1.5 | % |
| Household Durables | | | 94,509 | | | | 0.3 | % |
| Household Products | | | 357,679 | | | | 1.0 | % |
| Independent Power and Renewable Electricity Producers | | | 13,623 | | | | | NM |
| Industrial Conglomerates | | | 216,968 | | | | 0.6 | % |
| Insurance | | | 606,342 | | | | 1.7 | % |
| Interactive Media & Services | | | 1,093,018 | | | | 3.1 | % |
| Internet & Direct Marketing Retail | | | 713,554 | | | | 2.0 | % |
| IT Services | | | 1,131,953 | | | | 3.2 | % |
| Leisure Products | | | 5,739 | | | | | NM |
| Life Sciences Tools & Services | | | 348,954 | | | | 1.0 | % |
| Machinery | | | 472,804 | | | | 1.3 | % |
| Media | | | 210,749 | | | | 0.6 | % |
| Metals & Mining | | | 125,879 | | | | 0.4 | % |
| Multiline Retail | | | 121,717 | | | | 0.3 | % |
| Multi-Utilities | | | 216,870 | | | | 0.6 | % |
| Oil, Gas & Consumable Fuels | | | 1,171,811 | | | | 3.3 | % |
| Personal Products | | | 47,658 | | | | 0.1 | % |
| Pharmaceuticals | | | 1,102,388 | | | | 3.1 | % |
| Professional Services | | | 93,453 | | | | 0.3 | % |
| Real Estate Management & Development | | | 20,095 | | | | 0.1 | % |
| Road & Rail | | | 217,843 | | | | 0.6 | % |
| Semiconductors & Semiconductor Equipment | | | 1,410,864 | | | | 3.9 | % |
| Software | | | 2,123,652 | | | | 5.9 | % |
| Specialty Retail | | | 586,202 | | | | 1.6 | % |
| Technology Hardware, Storage & Peripherals | | | 1,670,477 | | | | 4.7 | % |
| Textiles, Apparel & Luxury Goods | | | 138,992 | | | | 0.4 | % |
| Tobacco | | | 180,331 | | | | 0.5 | % |
| Trading Companies & Distributors | | | 64,557 | | | | 0.2 | % |
| Water Utilities | | | 21,126 | | | | 0.1 | % |
| Wireless Telecommunication Services | | | 66,294 | | | | 0.2 | % |
| Other ** | | | 10,427,418 | | | | 29.1 | % |
| Total | | $ | 35,801,549 | | | | 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 schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks (61.2%)
| | | Shares | | Value | |
| 1-800-Flowers.com, Inc.* - Class A (Internet & Direct Marketing Retail) | | 20 | | $ | 199 | |
| 1Life Healthcare, Inc.* (Health Care Providers & Services) | | 136 | | 2,175 | |
| 1st Source Corp. (Banks) | | 12 | | 590 | |
| 1stdibs.com, Inc.* (Internet & Direct Marketing Retail) | | 18 | | 109 | |
| 22nd Century Group, Inc.* (Tobacco) | | 122 | | 134 | |
| 23andMe Holding Co.* - Class A (Life Sciences Tools & Services) | | 194 | | 485 | |
| 2seventy bio, Inc.* (Biotechnology) | | 28 | | 381 | |
| 2U, Inc.* (Diversified Consumer Services) | | 57 | | 492 | |
| 3D Systems Corp.* (Technology Hardware, Storage & Peripherals) | | 95 | | 1,032 | |
| 4D Molecular Therapeutics, Inc.* (Biotechnology) | | 23 | | 484 | |
| 5E Advanced Materials, Inc.* (Metals & Mining) | | 29 | | 286 | |
| 8x8, Inc.* (Software) | | 84 | | 396 | |
| 908 Devices, Inc.* (Electronic Equipment, Instruments & Components) | | 16 | | 149 | |
| A10 Networks, Inc. (Software) | | 48 | | 743 | |
| Aadi Bioscience, Inc.* (Pharmaceuticals) | | 11 | | 139 | |
| AAON, Inc. (Building Products) | | 33 | | 2,519 | |
| AAR Corp.* (Aerospace & Defense) | | 25 | | 1,286 | |
| Aaron's Co., Inc. (The) (Specialty Retail) | | 23 | | 337 | |
| AbCellera Biologics, Inc.* (Life Sciences Tools & Services) | | 156 | | 1,643 | |
| Abercrombie & Fitch Co.* (Specialty Retail) | | 37 | | 1,072 | |
| ABM Industries, Inc. (Commercial Services & Supplies) | | 50 | | 2,346 | |
| Absci Corp.* (Life Sciences Tools & Services) | | 40 | | 126 | |
| Academy Sports & Outdoors, Inc. (Leisure Products) | | 58 | | 3,387 | |
| ACADIA Pharmaceuticals, Inc.* (Biotechnology) | | 90 | | 1,713 | |
| Acadia Realty Trust (Equity Real Estate Investment Trusts (REITs)) | | 70 | | 1,087 | |
| Accel Entertainment, Inc.* (Hotels, Restaurants & Leisure) | | 42 | | 387 | |
| ACCO Brands Corp. (Commercial Services & Supplies) | | 69 | | 438 | |
| Accolade, Inc.* (Health Care Technology) | | 49 | | 572 | |
| ACI Worldwide, Inc.* (Software) | | 84 | | 2,346 | |
| Aclaris Therapeutics, Inc.* (Pharmaceuticals) | | 49 | | 828 | |
| ACM Research, Inc.* - Class A (Semiconductors & Semiconductor Equipment) | | 36 | | 450 | |
| ACNB Corp. (Banks) | | 6 | | 236 | |
| Acushnet Holdings Corp. (Leisure Products) | | 25 | | 1,174 | |
| ACV Auctions, Inc.* - Class A (Commercial Services & Supplies) | | 89 | | 872 | |
| AdaptHealth Corp.* (Health Care Providers & Services) | | 54 | | 1,157 | |
| Adaptive Biotechnologies Corp.* (Life Sciences Tools & Services) | | 84 | | 779 | |
| Addus HomeCare Corp.* (Health Care Providers & Services) | | 12 | | 1,290 | |
| Adeia, Inc. (Software) | | 78 | | 854 | |
| Adicet Bio, Inc.* (Pharmaceuticals) | | 23 | | | 210 | |
| Adient PLC* (Auto Components) | | 71 | | 3,196 | |
| ADMA Biologics, Inc.* (Biotechnology) | | 140 | | 517 | |
| Adtalem Global Education, Inc.* (Diversified Consumer Services) | | 34 | | 1,298 | |
| AdTheorent Holding Co., Inc.* (Media) | | 28 | | 49 | |
| ADTRAN Holdings, Inc. (Communications Equipment) | | 58 | | 1,094 | |
| Advanced Energy Industries, Inc. (Electronic Equipment, Instruments & Components) | | 28 | | 2,597 | |
| AdvanSix, Inc. (Chemicals) | | 20 | | 865 | |
| Advantage Solutions, Inc.* (Media) | | 62 | | 161 | |
| Aemetis, Inc.* (Oil, Gas & Consumable Fuels) | | 23 | | 107 | |
| Aerojet Rocketdyne Holdings, Inc.* (Aerospace & Defense) | | 60 | | 3,356 | |
| Aerovate Therapeutics, Inc.* (Biotechnology) | | 7 | | 160 | |
| AeroVironment, Inc.* (Aerospace & Defense) | | 19 | | 1,690 | |
| AerSale Corp.* (Aerospace & Defense) | | 16 | | 298 | |
| Aeva Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | 73 | | 123 | |
| AEye, Inc.* (Electronic Equipment, Instruments & Components) | | 77 | | 48 | |
| AFC Gamma, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | 12 | | 188 | |
| Affimed N.V.* (Biotechnology) | | 110 | | 142 | |
| Agenus, Inc.* (Biotechnology) | | 229 | | 598 | |
| Agiliti, Inc.* (Health Care Providers & Services) | | 21 | | 387 | |
| Agilysys, Inc.* (Software) | | 15 | | 1,253 | |
| Agios Pharmaceuticals, Inc.* (Biotechnology) | | 41 | | 1,209 | |
| Agree Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | 66 | | 4,925 | |
| Air Transport Services Group, Inc.* (Air Freight & Logistics) | | 43 | | 1,217 | |
| AirSculpt Technologies, Inc. (Health Care Providers & Services) | | 9 | | 52 | |
| aka Brands Holding Corp.* (Internet & Direct Marketing Retail) | | 8 | | 12 | |
| Akero Therapeutics, Inc.* (Biotechnology) | | 26 | | 1,287 | |
| Akoustis Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | 40 | | 148 | |
| Akoya Biosciences, Inc.* (Life Sciences Tools & Services) | | 12 | | 135 | |
| Alamo Group, Inc. (Machinery) | | 8 | | 1,252 | |
| Alarm.com Holdings, Inc.* (Software) | | 36 | | 1,930 | |
| Albany International Corp. - Class A (Machinery) | | 23 | | 2,579 | |
| Albireo Pharma, Inc.* (Biotechnology) | | 14 | | 625 | |
| Alector, Inc.* (Biotechnology) | | 47 | | 415 | |
| Alerus Financial Corp. (Diversified Financial Services) | | 11 | | 226 | |
| Alexander & Baldwin, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 56 | | 1,121 | |
| Alexander's, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 2 | | 475 | |
| Alico, Inc. (Food Products) | | 5 | | 133 | |
See accompanying notes to schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | Value | |
| Alight, Inc.* - Class A (Professional Services) | | 256 | | $ | 2,404 | |
| Alignment Healthcare, Inc.* (Health Care Providers & Services) | | 74 | | 914 | |
| Alkami Technology, Inc.* (Software) | | 27 | | 442 | |
| Alkermes PLC* (Biotechnology) | | 123 | | 3,523 | |
| Allbirds, Inc.* - Class A (Textiles, Apparel & Luxury Goods) | | 73 | | 201 | |
| Allegiant Travel Co.* (Airlines) | | 12 | | 1,032 | |
| ALLETE, Inc. (Electric Utilities) | | 43 | | 2,660 | |
| Allied Motion Technologies, Inc. (Electrical Equipment) | | 10 | | 406 | |
| Allogene Therapeutics, Inc.*(a) (Biotechnology) | | 60 | | 463 | |
| Allovir, Inc.* (Biotechnology) | | 23 | | 133 | |
| Alpha & Omega Semiconductor, Ltd.* (Semiconductors & Semiconductor Equipment) | | 17 | | 560 | |
| Alpha Metallurgical Resources, Inc. (Metals & Mining) | | 11 | | 1,770 | |
| Alpha Teknova, Inc.* (Biotechnology) | | 5 | | 30 | |
| Alphatec Holdings, Inc.* (Health Care Equipment & Supplies) | | 55 | | 716 | |
| Alpine Immune Sciences, Inc.* (Biotechnology) | | 17 | | 143 | |
| Alta Equipment Group, Inc. (Trading Companies & Distributors) | | 16 | | 271 | |
| Altair Engineering, Inc.* - Class A (Software) | | 39 | | 2,071 | |
| Alto Ingredients, Inc.* (Oil, Gas & Consumable Fuels) | | 54 | | 183 | |
| Altra Industrial Motion Corp. (Machinery) | | 49 | | 2,992 | |
| Altus Power, Inc.* (Independent Power and Renewable Electricity Producers) | | 33 | | 265 | |
| ALX Oncology Holdings, Inc.* (Biotechnology) | | 16 | | 149 | |
| Amalgamated Financial Corp. (Banks) | | 13 | | 298 | |
| A-Mark Precious Metals, Inc. (Diversified Financial Services) | | 14 | | 539 | |
| Ambac Financial Group, Inc.* (Insurance) | | 33 | | 550 | |
| Ambarella, Inc.* (Semiconductors & Semiconductor Equipment) | | 27 | | 2,426 | |
| AMC Networks, Inc.* - Class A (Media) | | 23 | | 426 | |
| Amerant Bancorp, Inc. (Banks) | | 21 | | 585 | |
| Ameresco, Inc.* - Class A (Construction & Engineering) | | 24 | | 1,547 | |
| American Assets Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 37 | | 1,053 | |
| American Axle & Manufacturing Holdings, Inc.* (Auto Components) | | 85 | | 754 | |
| American Eagle Outfitters, Inc. (Specialty Retail) | | 116 | | 1,872 | |
| American Equity Investment Life Holding Co. (Insurance) | | 53 | | 2,525 | |
| American National Bankshares, Inc. (Banks) | | 8 | | 277 | |
| American Public Education, Inc.* (Diversified Consumer Services) | | 14 | | 170 | |
| American Realty Investors, Inc.* (Real Estate Management & Development) | | 1 | | 27 | |
| American Software, Inc. - Class A (Software) | | 24 | | 365 | |
| American States Water Co. (Water Utilities) | | 28 | | 2,637 | |
| American Vanguard Corp. (Chemicals) | | 21 | | | 474 | |
| American Well Corp.* - Class A (Health Care Technology) | | 173 | | 687 | |
| American Woodmark Corp.* (Building Products) | | 12 | | 687 | |
| America's Car-Mart, Inc.* (Specialty Retail) | | 4 | | 345 | |
| Ameris Bancorp (Banks) | | 50 | | 2,358 | |
| AMERISAFE, Inc. (Insurance) | | 14 | | 771 | |
| Amicus Therapeutics, Inc.* (Biotechnology) | | 208 | | 2,712 | |
| Amkor Technology, Inc. (Semiconductors & Semiconductor Equipment) | | 76 | | 2,224 | |
| AMMO, Inc.* (Leisure Products) | | 67 | | 166 | |
| AMN Healthcare Services, Inc.* (Health Care Providers & Services) | | 33 | | 3,163 | |
| Amneal Pharmaceuticals, Inc.* (Pharmaceuticals) | | 78 | | 172 | |
| Amphastar Pharmaceuticals, Inc.* (Pharmaceuticals) | | 29 | | 878 | |
| Amplify Energy Corp.* (Oil, Gas & Consumable Fuels) | | 27 | | 234 | |
| Amplitude, Inc.* - Class A (Software) | | 42 | | 604 | |
| Amylyx Pharmaceuticals, Inc.* (Pharmaceuticals) | | 38 | | 1,489 | |
| Amyris, Inc.*(a) (Oil, Gas & Consumable Fuels) | | 151 | | 240 | |
| AN2 Therapeutics, Inc.* (Pharmaceuticals) | | 8 | | 97 | |
| AnaptysBio, Inc.* (Biotechnology) | | 15 | | 373 | |
| Anavex Life Sciences Corp.* (Biotechnology) | | 52 | | 565 | |
| Angel Oak Mortgage, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | 9 | | 71 | |
| AngioDynamics, Inc.* (Health Care Equipment & Supplies) | | 28 | | 365 | |
| ANI Pharmaceuticals, Inc.* (Pharmaceuticals) | | 10 | | 447 | |
| Anika Therapeutics, Inc.* (Health Care Equipment & Supplies) | | 11 | | 341 | |
| Anterix, Inc.* (Diversified Telecommunication Services) | | 14 | | 505 | |
| Apartment Investment and Management Co. (Equity Real Estate Investment Trusts (REITs)) | | 113 | | 849 | |
| Apellis Pharmaceuticals, Inc.* (Biotechnology) | | 71 | | 3,744 | |
| API Group Corp.* (Construction & Engineering) | | 156 | | 3,469 | |
| Apogee Enterprises, Inc. (Building Products) | | 17 | | 796 | |
| Apollo Commercial Real Estate Finance, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | 106 | | 1,290 | |
| Apollo Medical Holdings, Inc.*(a) (Health Care Providers & Services) | | 29 | | 1,034 | |
| Appfolio, Inc.* (Software) | | 15 | | 1,685 | |
| AppHarvest, Inc.*(a) (Food Products) | | 57 | | 139 | |
| Appian Corp.* (Software) | | 30 | | 1,241 | |
| Apple Hospitality REIT, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 162 | | 2,872 | |
| Applied Digital Corp.* (Software) | | 51 | | 158 | |
| Applied Industrial Technologies, Inc. (Trading Companies & Distributors) | | 29 | | 4,154 | |
See accompanying notes to schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | Value | |
| Arbor Realty Trust, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | 124 | | $ | 1,851 | |
| Arbutus Biopharma Corp.* (Biotechnology) | | 86 | | 259 | |
| ArcBest Corp. (Road & Rail) | | 18 | | 1,502 | |
| Arcellx, Inc.* (Biotechnology) | | 22 | | 735 | |
| Arch Resources, Inc. (Oil, Gas & Consumable Fuels) | | 11 | | 1,628 | |
| Archer Aviation, Inc.* - Class A (Aerospace & Defense) | | 109 | | 316 | |
| Archrock, Inc. (Energy Equipment & Services) | | 102 | | 1,011 | |
| Arconic Corp.* (Metals & Mining) | | 76 | | 1,787 | |
| Arcosa, Inc. (Construction & Engineering) | | 36 | | 2,134 | |
| Arcturus Therapeutics Holdings, Inc.* (Biotechnology) | | 17 | | 359 | |
| Arcus Biosciences, Inc.* (Biotechnology) | | 39 | | 844 | |
| Arcutis Biotherapeutics, Inc.* (Biotechnology) | | 31 | | 514 | |
| Ardmore Shipping Corp.* (Oil, Gas & Consumable Fuels) | | 31 | | 454 | |
| Ares Commercial Real Estate Corp. (Mortgage Real Estate Investment Trusts (REITs)) | | 39 | | 479 | |
| Argan, Inc. (Construction & Engineering) | | 10 | | 390 | |
| Argo Group International Holdings, Ltd. (Insurance) | | 24 | | 666 | |
| Aris Water Solution, Inc. - Class A (Commercial Services & Supplies) | | 17 | | 263 | |
| Arko Corp. (Specialty Retail) | | 63 | | 529 | |
| Arlo Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | 65 | | 244 | |
| Armada Hoffler Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 51 | | 647 | |
| ARMOUR Residential REIT, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | 99 | | 622 | |
| Array Technologies, Inc.* (Electrical Equipment) | | 113 | | 2,512 | |
| Arrow Financial Corp. (Banks) | | 11 | | 362 | |
| Arrowhead Pharmaceuticals, Inc.* (Biotechnology) | | 77 | | 2,694 | |
| Arteris, Inc.* (Software) | | 13 | | 82 | |
| Artesian Resources Corp. - Class A (Water Utilities) | | 6 | | 353 | |
| Artisan Partners Asset Management, Inc. (Capital Markets) | | 45 | | 1,657 | |
| Artivion, Inc.* (Health Care Equipment & Supplies) | | 29 | | 378 | |
| Arvinas, Inc.* (Pharmaceuticals) | | 37 | | 1,212 | |
| Asana, Inc.* - Class A (Software) | | 55 | | 853 | |
| Asbury Automotive Group, Inc.* (Specialty Retail) | | 17 | | 3,739 | |
| ASGN, Inc.* (Professional Services) | | 37 | | 3,364 | |
| Ashford Hospitality Trust, Inc.* (Equity Real Estate Investment Trusts (REITs)) | | 26 | | 179 | |
| Aspen Aerogels, Inc.* (Chemicals) | | 23 | | 242 | |
| Assetmark Financial Holdings, Inc.* (Capital Markets) | | 16 | | 425 | |
| Associated Banc-Corp. (Banks) | | 112 | | 2,510 | |
| Associated Capital Group, Inc. - Class A (Capital Markets) | | 1 | | 38 | |
| Astec Industries, Inc. (Machinery) | | 17 | | 750 | |
| Astra Space, Inc.* (Aerospace & Defense) | | 116 | | | 74 | |
| Astronics Corp.* (Aerospace & Defense) | | 19 | | 282 | |
| Atara Biotherapeutics, Inc.* (Biotechnology) | | 70 | | 355 | |
| Atea Pharmaceuticals, Inc.* (Biotechnology) | | 57 | | 264 | |
| Aterian, Inc.* (Household Durables) | | 50 | | 77 | |
| Athira Pharma, Inc.* (Pharmaceuticals) | | 26 | | 105 | |
| ATI Physical Therapy, Inc.* (Health Care Providers & Services) | | 56 | | 25 | |
| ATI, Inc.* (Metals & Mining) | | 93 | | 3,384 | |
| Atkore, Inc.* (Electrical Equipment) | | 31 | | 4,037 | |
| Atlantic Union Bankshares (Banks) | | 56 | | 2,167 | |
| Atlanticus Holdings Corp.* (Consumer Finance) | | 3 | | 98 | |
| Atlas Air Worldwide Holdings, Inc.* (Air Freight & Logistics) | | 21 | | 2,146 | |
| Atlas Technical Consultants, Inc.* (Professional Services) | | 14 | | 170 | |
| ATN International, Inc. (Diversified Telecommunication Services) | | 8 | | 391 | |
| Atomera, Inc.* (Semiconductors & Semiconductor Equipment) | | 16 | | 117 | |
| AtriCure, Inc.* (Health Care Equipment & Supplies) | | 34 | | 1,472 | |
| Atrion Corp. (Health Care Equipment & Supplies) | | 1 | | 687 | |
| Aura Biosciences, Inc.* (Biotechnology) | | 14 | | 146 | |
| Aurinia Pharmaceuticals, Inc.* (Biotechnology) | | 101 | | 914 | |
| Avanos Medical, Inc.* (Health Care Equipment & Supplies) | | 35 | | 1,072 | |
| Avantax, Inc.* (Capital Markets) | | 36 | | 1,049 | |
| Avaya Holdings Corp.* - Class C (Software) | | 64 | | 23 | |
| Aveanna Healthcare Holdings, Inc.* (Health Care Providers & Services) | | 34 | | 41 | |
| AvePoint, Inc.* (Software) | | 98 | | 438 | |
| Aviat Networks, Inc.* (Communications Equipment) | | 8 | | 259 | |
| Avid Bioservices, Inc.* (Biotechnology) | | 46 | | 728 | |
| Avid Technology, Inc.* (Technology Hardware, Storage & Peripherals) | | 26 | | 788 | |
| Avidity Biosciences, Inc.* (Biotechnology) | | 40 | | 948 | |
| AvidXchange Holdings, Inc.* (Software) | | 110 | | 1,223 | |
| Avient Corp. (Chemicals) | | 69 | | 2,796 | |
| Avista Corp. (Multi-Utilities) | | 56 | | 2,234 | |
| Axcelis Technologies, Inc.* (Semiconductors & Semiconductor Equipment) | | 25 | | 2,749 | |
| AxoGen, Inc.* (Health Care Equipment & Supplies) | | 31 | | 294 | |
| Axonics, Inc.* (Health Care Equipment & Supplies) | | 37 | | 2,272 | |
| Axos Financial, Inc.* (Thrifts & Mortgage Finance) | | 43 | | 2,069 | |
| Axsome Therapeutics, Inc.* (Pharmaceuticals) | | 24 | | 1,800 | |
| AXT, Inc.* (Semiconductors & Semiconductor Equipment) | | 31 | | 183 | |
| AZZ, Inc. (Electrical Equipment) | | 18 | | 765 | |
| B Riley Financial, Inc. (Capital Markets) | | 16 | | 684 | |
| B&G Foods, Inc. (Food Products) | | 53 | | 743 | |
See accompanying notes to schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | Value | |
| Babcock & Wilcox Enterprises, Inc.* (Electrical Equipment) | | 46 | | $ | 305 | |
| Babylon Holdings, Ltd.* - Class A (Health Care Technology) | | 3 | | 35 | |
| Badger Meter, Inc. (Electronic Equipment, Instruments & Components) | | 22 | | 2,550 | |
| Bakkt Holdings, Inc.* (Capital Markets) | | 44 | | 69 | |
| Balchem Corp. (Chemicals) | | 24 | | 3,135 | |
| Bally's Corp.* (Hotels, Restaurants & Leisure) | | 27 | | 536 | |
| Banc of California, Inc. (Banks) | | 40 | | 697 | |
| BancFirst Corp. (Banks) | | 15 | | 1,292 | |
| Banco Latinoamericano de Comercio Exterior S.A. - Class E (Diversified Financial Services) | | 21 | | 362 | |
| Bandwidth, Inc.* (Diversified Telecommunication Services) | | 17 | | 423 | |
| Bank First Corp. (Banks) | | 6 | | 479 | |
| Bank of Marin Bancorp (Banks) | | 12 | | 366 | |
| BankUnited, Inc. (Banks) | | 59 | | 2,221 | |
| Bankwell Financial Group, Inc. (Banks) | | 4 | | 118 | |
| Banner Corp. (Banks) | | 26 | | 1,686 | |
| Bar Harbor Bankshares (Banks) | | 11 | | 342 | |
| BARK, Inc.* (Internet & Direct Marketing Retail) | | 90 | | 181 | |
| Barnes Group, Inc. (Machinery) | | 37 | | 1,638 | |
| Barrett Business Services, Inc. (Professional Services) | | 5 | | 497 | |
| Battalion Oil Corp.* (Oil, Gas & Consumable Fuels) | | 2 | | 21 | |
| BayCom Corp. (Banks) | | 9 | | 181 | |
| BCB Bancorp, Inc. (Banks) | | 11 | | 198 | |
| Beacon Roofing Supply, Inc.* (Trading Companies & Distributors) | | 39 | | 2,218 | |
| Beam Therapeutics, Inc.* (Biotechnology) | | 48 | | 2,086 | |
| Beazer Homes USA, Inc.* (Household Durables) | | 22 | | 360 | |
| Bed Bath & Beyond, Inc.*(a) (Specialty Retail) | | 58 | | 164 | |
| Belden, Inc. (Electronic Equipment, Instruments & Components) | | 32 | | 2,595 | |
| BellRing Brands, Inc.* (Personal Products) | | 99 | | 2,807 | |
| Benchmark Electronics, Inc. (Electronic Equipment, Instruments & Components) | | 26 | | 728 | |
| Benson Hill, Inc.* (Software) | | 129 | | 346 | |
| Berkeley Lights, Inc.* (Life Sciences Tools & Services) | | 43 | | 92 | |
| Berkshire Grey, Inc.* (Machinery) | | 37 | | 42 | |
| Berkshire Hills Bancorp, Inc. (Banks) | | 33 | | 1,025 | |
| Berry Corp. (Oil, Gas & Consumable Fuels) | | 57 | | 524 | |
| Beyond Meat, Inc.*(a) (Food Products) | | 46 | | 756 | |
| BGC Partners, Inc. - Class A (Capital Markets) | | 237 | | 1,031 | |
| Big 5 Sporting Goods Corp. (Specialty Retail) | | 16 | | 160 | |
| Big Lots, Inc. (Multiline Retail) | | 21 | | 344 | |
| BigCommerce Holdings, Inc.* - Class 1 (IT Services) | | 49 | | 601 | |
| Biglari Holdings, Inc.* - Class B (Hotels, Restaurants & Leisure) | | 1 | | 163 | |
| BioCryst Pharmaceuticals, Inc.* (Biotechnology) | | 140 | | | 1,477 | |
| Biohaven, Ltd.* (Biotechnology) | | 48 | | 916 | |
| BioLife Solutions, Inc.* (Health Care Equipment & Supplies) | | 25 | | 586 | |
| Bionano Genomics, Inc.*(a) (Life Sciences Tools & Services) | | 225 | | 407 | |
| Bioventus, Inc.* - Class A (Health Care Equipment & Supplies) | | 24 | | 47 | |
| Bioxcel Therapeutics, Inc.* (Biotechnology) | | 14 | | 399 | |
| Bird Global, Inc.* - Class A (Road & Rail) | | 132 | | 31 | |
| BJ's Restaurants, Inc.* (Hotels, Restaurants & Leisure) | | 17 | | 537 | |
| Black Hills Corp. (Multi-Utilities) | | 49 | | 3,548 | |
| Blackbaud, Inc.* (Software) | | 35 | | 2,177 | |
| Blackline, Inc.* (Software) | | 42 | | 3,016 | |
| Blackstone Mortgage Trust, Inc. - Class A (Mortgage Real Estate Investment Trusts (REITs)) | | 128 | | 3,051 | |
| Blade Air Mobility, Inc.* (Airlines) | | 43 | | 192 | |
| Blend Labs, Inc.* - Class A (Software) | | 142 | | 236 | |
| Blink Charging Co.* (Electrical Equipment) | | 27 | | 367 | |
| Bloom Energy Corp.*(a) (Electrical Equipment) | | 135 | | 3,366 | |
| Bloomin' Brands, Inc. (Hotels, Restaurants & Leisure) | | 66 | | 1,601 | |
| Blue Bird Corp.* (Machinery) | | 13 | | 189 | |
| Blue Foundry Bancorp* (Thrifts & Mortgage Finance) | | 19 | | 226 | |
| Blue Ridge Bankshares, Inc. (Banks) | | 13 | | 165 | |
| Bluebird Bio, Inc.* (Biotechnology) | | 62 | | 394 | |
| Bluegreen Vacations Holding Corp. (Hotels, Restaurants & Leisure) | | 9 | | 292 | |
| BlueLinx Holdings, Inc.* (Trading Companies & Distributors) | | 7 | | 608 | |
| Blueprint Medicines Corp.* (Biotechnology) | | 45 | | 2,103 | |
| Bluerock Homes Trust, Inc.* (Equity Real Estate Investment Trusts (REITs)) | | 3 | | 68 | |
| Boise Cascade Co. (Trading Companies & Distributors) | | 30 | | 2,249 | |
| Boot Barn Holdings, Inc.* (Specialty Retail) | | 22 | | 1,837 | |
| Borr Drilling, Ltd.* (Energy Equipment & Services) | | 152 | | 904 | |
| Boston Omaha Corp.* - Class A (Media) | | 16 | | 423 | |
| Bowlero Corp.* (Hotels, Restaurants & Leisure) | | 22 | | 303 | |
| Box, Inc.* - Class A (Software) | | 105 | | 3,358 | |
| Boxed, Inc.* (Internet & Direct Marketing Retail) | | 43 | | 23 | |
| Brady Corp. - Class A (Commercial Services & Supplies) | | 34 | | 1,818 | |
| Braemar Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 52 | | 276 | |
| Brandywine Realty Trust (Equity Real Estate Investment Trusts (REITs)) | | 128 | | 840 | |
| BRC, Inc.* - Class A (Food Products) | | 20 | | 132 | |
| Bread Financial Holdings, Inc. (IT Services) | | 38 | | 1,559 | |
| Bridgebio Pharma, Inc.* (Biotechnology) | | 80 | | 742 | |
See accompanying notes to schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | Value | |
| Bridgewater Bancshares, Inc.* (Thrifts & Mortgage Finance) | | 15 | | $ | 233 | |
| Bright Health Group, Inc.* (Insurance) | | 145 | | 129 | |
| Brightcove, Inc.* (IT Services) | | 31 | | 197 | |
| Brightsphere Investment Group, Inc. (Capital Markets) | | 24 | | 563 | |
| BrightSpire Capital, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | 71 | | 541 | |
| BrightView Holdings, Inc.* (Commercial Services & Supplies) | | 33 | | 262 | |
| Brinker International, Inc.* (Hotels, Restaurants & Leisure) | | 33 | | 1,302 | |
| Bristow Group, Inc.* (Energy Equipment & Services) | | 18 | | 550 | |
| Broadmark Realty Capital, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | 98 | | 429 | |
| Broadstone Net Lease, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 130 | | 2,354 | |
| Brookdale Senior Living, Inc.* (Health Care Providers & Services) | | 140 | | 403 | |
| Brookfield Business Corp. - Class A (Industrial Conglomerates) | | 20 | | 453 | |
| Brookfield Infrastructure Corp. - Class A (Gas Utilities) | | 74 | | 3,272 | |
| Brookline Bancorp, Inc. (Banks) | | 57 | | 746 | |
| BRP Group, Inc.* - Class A (Insurance) | | 46 | | 1,318 | |
| BRT Apartments Corp. (Equity Real Estate Investment Trusts (REITs)) | | 9 | | 189 | |
| Build-A-Bear Workshop, Inc.* (Specialty Retail) | | 10 | | 246 | |
| Bumble, Inc.* - Class A (Interactive Media & Services) | | 65 | | 1,674 | |
| Business First Bancshares, Inc. (Banks) | | 18 | | 373 | |
| Butterfly Network, Inc.* (Health Care Equipment & Supplies) | | 100 | | 275 | |
| Byline Bancorp, Inc. (Banks) | | 19 | | 471 | |
| C3.ai, Inc.* - Class A (Software) | | 44 | | 873 | |
| C4 Therapeutics, Inc.* (Biotechnology) | | 32 | | 249 | |
| Cabot Corp. (Chemicals) | | 42 | | 3,165 | |
| Cactus, Inc. - Class A (Energy Equipment & Services) | | 44 | | 2,381 | |
| Cadence Bank (Banks) | | 137 | | 3,503 | |
| Cadre Holdings, Inc. (Aerospace & Defense) | | 14 | | 320 | |
| Caesarstone, Ltd. (Building Products) | | 17 | | 106 | |
| Calavo Growers, Inc. (Food Products) | | 13 | | 417 | |
| Caleres, Inc. (Specialty Retail) | | 27 | | 703 | |
| California Resources Corp. (Oil, Gas & Consumable Fuels) | | 56 | | 2,393 | |
| California Water Service Group (Water Utilities) | | 41 | | 2,508 | |
| Calix, Inc.* (Communications Equipment) | | 43 | | 2,264 | |
| Callon Petroleum Co.* (Oil, Gas & Consumable Fuels) | | 37 | | 1,574 | |
| Cal-Maine Foods, Inc. (Food Products) | | 29 | | 1,659 | |
| Cambium Networks Corp.* (Communications Equipment) | | 9 | | 193 | |
| Cambridge Bancorp (Banks) | | 5 | | 400 | |
| Camden National Corp. (Banks) | | 11 | | 465 | |
| Camping World Holdings, Inc. - Class A (Specialty Retail) | | 29 | | 737 | |
| Cannae Holdings, Inc.* (Diversified Financial Services) | | 52 | | | 1,271 | |
| Cano Health, Inc.* (Health Care Providers & Services) | | 122 | | 168 | |
| Canoo, Inc.*(a) (Automobiles) | | 126 | | 151 | |
| Cantaloupe, Inc.* (IT Services) | | 44 | | 224 | |
| Capital Bancorp, Inc. (Banks) | | 7 | | 151 | |
| Capital City Bank Group, Inc. (Banks) | | 10 | | 325 | |
| Capitol Federal Financial, Inc. (Thrifts & Mortgage Finance) | | 98 | | 820 | |
| Capstar Financial Holdings, Inc. (Banks) | | 15 | | 261 | |
| Cara Therapeutics, Inc.* (Biotechnology) | | 34 | | 397 | |
| Cardiovascular Systems, Inc.* (Health Care Equipment & Supplies) | | 31 | | 432 | |
| Cardlytics, Inc.* (Media) | | 24 | | 180 | |
| CareDx, Inc.* (Biotechnology) | | 38 | | 568 | |
| CareMax, Inc.* (Health Care Providers & Services) | | 44 | | 206 | |
| CareTrust REIT, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 73 | | 1,513 | |
| Cargurus, Inc.* (Interactive Media & Services) | | 77 | | 1,359 | |
| Caribou Biosciences, Inc.* (Biotechnology) | | 42 | | 303 | |
| CarParts.com, Inc.* (Internet & Direct Marketing Retail) | | 38 | | 259 | |
| Carpenter Technology Corp. (Metals & Mining) | | 36 | | 1,738 | |
| Carriage Services, Inc. (Diversified Consumer Services) | | 10 | | 324 | |
| Cars.com, Inc.* (Interactive Media & Services) | | 50 | | 855 | |
| Carter Bankshares, Inc.* (Banks) | | 18 | | 299 | |
| Casa Systems, Inc.* (Communications Equipment) | | 27 | | 92 | |
| Casella Waste Systems, Inc.* - Class A (Commercial Services & Supplies) | | 38 | | 3,046 | |
| Cass Information Systems, Inc. (IT Services) | | 10 | | 486 | |
| Cassava Sciences, Inc.* (Pharmaceuticals) | | 29 | | 812 | |
| Castle Biosciences, Inc.* (Biotechnology) | | 18 | | 487 | |
| Catalyst Pharmaceuticals, Inc.* (Biotechnology) | | 73 | | 1,131 | |
| Cathay General Bancorp (Banks) | | 54 | | 2,374 | |
| Cavco Industries, Inc.* (Household Durables) | | 7 | | 1,863 | |
| CBIZ, Inc.* (Professional Services) | | 36 | | 1,713 | |
| CBL & Associates Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 20 | | 533 | |
| Celldex Therapeutics, Inc.* (Biotechnology) | | 34 | | 1,498 | |
| Celsius Holdings, Inc.* (Beverages) | | 42 | | 4,213 | |
| Celularity, Inc.* (Biotechnology) | | 48 | | 40 | |
| Cenntro Electric Group, Ltd.* (Automobiles) | | 139 | | 106 | |
| Centerspace (Equity Real Estate Investment Trusts (REITs)) | | 11 | | 744 | |
| Central Garden & Pet Co.* (Household Products) | | 7 | | 294 | |
| Central Garden & Pet Co.* - Class A (Household Products) | | 30 | | 1,189 | |
| Central Pacific Financial Corp. (Banks) | | 20 | | 452 | |
| Centrus Energy Corp.* - Class A (Oil, Gas & Consumable Fuels) | | 8 | | 328 | |
See accompanying notes to schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | Value | |
| Century Aluminum Co.* (Metals & Mining) | | 39 | | $ | 438 | |
| Century Casinos, Inc.* (Hotels, Restaurants & Leisure) | | 21 | | 185 | |
| Century Communities, Inc. (Household Durables) | | 21 | | 1,285 | |
| Century Therapeutics, Inc.* (Biotechnology) | | 15 | | 69 | |
| Cepton, Inc.* (Electronic Equipment, Instruments & Components) | | 36 | | 44 | |
| Cerberus Cyber Sentinel Corp.* (IT Services) | | 35 | | 50 | |
| Cerence, Inc.* (Software) | | 30 | | 736 | |
| Cerevel Therapeutics Holdings, Inc.* (Biotechnology) | | 43 | | 1,468 | |
| Cerus Corp.* (Health Care Equipment & Supplies) | | 130 | | 408 | |
| CEVA, Inc.* (Semiconductors & Semiconductor Equipment) | | 17 | | 563 | |
| ChampionX Corp. (Energy Equipment & Services) | | 151 | | 4,987 | |
| Charge Enterprises, Inc.* (Diversified Telecommunication Services) | | 98 | | 131 | |
| Chart Industries, Inc.* (Machinery) | | 32 | | 4,287 | |
| Chase Corp. (Chemicals) | | 6 | | 566 | |
| Chatham Lodging Trust (Equity Real Estate Investment Trusts (REITs)) | | 36 | | 512 | |
| Chegg, Inc.* (Diversified Consumer Services) | | 94 | | 1,950 | |
| Chesapeake Utilities Corp. (Gas Utilities) | | 13 | | 1,639 | |
| Chicago Atlantic Real Estate Finance, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | 4 | | 62 | |
| Chico's FAS, Inc.* (Specialty Retail) | | 92 | | 485 | |
| Chimera Investment Corp. (Mortgage Real Estate Investment Trusts (REITs)) | | 175 | | 1,276 | |
| Chimerix, Inc.* (Biotechnology) | | 63 | | 112 | |
| Chinook Therapeutics, Inc.* (Biotechnology) | | 38 | | 960 | |
| Chord Energy Corp. (Oil, Gas & Consumable Fuels) | | 31 | | 4,443 | |
| Chuy's Holdings, Inc.* (Hotels, Restaurants & Leisure) | | 13 | | 445 | |
| Cimpress PLC* (Commercial Services & Supplies) | | 13 | | 425 | |
| CinCor Pharma, Inc.* (Pharmaceuticals) | | 19 | | 550 | |
| Cinemark Holdings, Inc.* (Entertainment) | | 82 | | 979 | |
| Cipher Mining, Inc.* (Software) | | 29 | | 35 | |
| CIRCOR International, Inc.* (Machinery) | | 14 | | 387 | |
| Citi Trends, Inc.* (Specialty Retail) | | 6 | | 189 | |
| Citizens & Northern Corp. (Banks) | | 11 | | 260 | |
| City Holding Co. (Banks) | | 11 | | 1,043 | |
| City Office REIT, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 29 | | 285 | |
| Civista Bancshares, Inc. (Banks) | | 12 | | 260 | |
| Civitas Resources, Inc. (Oil, Gas & Consumable Fuels) | | 56 | | 3,727 | |
| Claros Mortgage Trust, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | 69 | | 1,155 | |
| Clarus Corp. (Leisure Products) | | 22 | | 221 | |
| Clean Energy Fuels Corp.* (Oil, Gas & Consumable Fuels) | | 128 | | 724 | |
| Cleanspark, Inc.* (Software) | | 34 | | | 108 | |
| Clear Channel Outdoor Holdings, Inc.* (Media) | | 278 | | 531 | |
| Clear Secure, Inc. - Class A (Software) | | 47 | | 1,475 | |
| Clearfield, Inc.* (Communications Equipment) | | 9 | | 643 | |
| Clearwater Paper Corp.* (Paper & Forest Products) | | 13 | | 502 | |
| Clearway Energy, Inc. - Class A (Independent Power and Renewable Electricity Producers) | | 26 | | 833 | |
| Clearway Energy, Inc. - Class C (Independent Power and Renewable Electricity Producers) | | 62 | | 2,095 | |
| Clipper Realty, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 9 | | 63 | |
| Clover Health Investments Corp.* (Health Care Providers & Services) | | 291 | | 387 | |
| CNB Financial Corp. (Banks) | | 15 | | 362 | |
| CNO Financial Group, Inc. (Insurance) | | 85 | | 2,190 | |
| CNX Resources Corp.* (Oil, Gas & Consumable Fuels) | | 134 | | 2,242 | |
| Coastal Financial Corp.* (Banks) | | 8 | | 365 | |
| Coca-Cola Consolidated, Inc. (Beverages) | | 4 | | 2,027 | |
| Codexis, Inc.* (Life Sciences Tools & Services) | | 46 | | 283 | |
| Coeur Mining, Inc.* (Metals & Mining) | | 210 | | 817 | |
| Cogent Biosciences, Inc.* (Biotechnology) | | 48 | | 723 | |
| Cogent Communications Holdings, Inc. (Diversified Telecommunication Services) | | 32 | | 2,194 | |
| Cohen & Steers, Inc. (Capital Markets) | | 19 | | 1,396 | |
| Coherus Biosciences, Inc.* (Biotechnology) | | 55 | | 466 | |
| Cohu, Inc.* (Semiconductors & Semiconductor Equipment) | | 35 | | 1,263 | |
| Collegium Pharmaceutical, Inc.* (Pharmaceuticals) | | 25 | | 702 | |
| Colony Bankcorp, Inc. (Banks) | | 12 | | 155 | |
| Columbia Banking System, Inc. (Banks) | | 59 | | 1,824 | |
| Columbia Financial, Inc.* (Thrifts & Mortgage Finance) | | 26 | | 516 | |
| Columbus McKinnon Corp. (Machinery) | | 21 | | 755 | |
| Comfort Systems USA, Inc. (Construction & Engineering) | | 27 | | 3,268 | |
| Commercial Metals Co. (Metals & Mining) | | 88 | | 4,776 | |
| CommScope Holding Co., Inc.* (Communications Equipment) | | 154 | | 1,294 | |
| Community Bank System, Inc. (Banks) | | 40 | | 2,308 | |
| Community Health Systems, Inc. (Health Care Providers & Services) | | 94 | | 491 | |
| Community Healthcare Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 18 | | 772 | |
| Community Trust Bancorp, Inc. (Banks) | | 12 | | 517 | |
| CommVault Systems, Inc.* (Software) | | 34 | | 2,116 | |
| Compass Diversified Holdings (Diversified Financial Services) | | 47 | | 1,049 | |
| Compass Minerals International, Inc. (Metals & Mining) | | 26 | | 1,213 | |
| Compass, Inc.* - Class A (Real Estate Management & Development) | | 206 | | 828 | |
| CompoSecure, Inc.* (Technology Hardware, Storage & Peripherals) | | 6 | | 38 | |
See accompanying notes to schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | Value | |
| Computer Programs and Systems, Inc.* (Health Care Technology) | | 11 | | $ | 323 | |
| CompX International, Inc. (Commercial Services & Supplies) | | 1 | | 19 | |
| Comstock Resources, Inc. (Oil, Gas & Consumable Fuels) | | 69 | | 838 | |
| Comtech Telecommunications Corp. (Communications Equipment) | | 19 | | 301 | |
| Concrete Pumping Holdings, Inc.* (Construction & Engineering) | | 20 | | 163 | |
| Conduent, Inc.* (IT Services) | | 128 | | 611 | |
| CONMED Corp. (Health Care Equipment & Supplies) | | 22 | | 2,107 | |
| ConnectOne Bancorp, Inc. (Banks) | | 28 | | 666 | |
| Conn's, Inc.* (Specialty Retail) | | 10 | | 94 | |
| Consensus Cloud Solutions, Inc.* (Software) | | 14 | | 823 | |
| CONSOL Energy, Inc. (Oil, Gas & Consumable Fuels) | | 26 | | 1,504 | |
| Consolidated Communications Holdings, Inc.* (Diversified Telecommunication Services) | | 56 | | 244 | |
| Constellium SE* (Metals & Mining) | | 95 | | 1,380 | |
| Construction Partners, Inc.* - Class A (Construction & Engineering) | | 30 | | 849 | |
| Consumer Portfolio Services, Inc.* (Consumer Finance) | | 7 | | 70 | |
| ContextLogic, Inc.* - Class A (Internet & Direct Marketing Retail) | | 436 | | 300 | |
| Corcept Therapeutics, Inc.* (Pharmaceuticals) | | 65 | | 1,486 | |
| CoreCivic, Inc.* (Equity Real Estate Investment Trusts (REITs)) | | 86 | | 915 | |
| Corporate Office Properties Trust (Equity Real Estate Investment Trusts (REITs)) | | 85 | | 2,386 | |
| Corsair Gaming, Inc.* (Technology Hardware, Storage & Peripherals) | | 29 | | 456 | |
| CorVel Corp.* (Health Care Providers & Services) | | 7 | | 1,247 | |
| Costamare, Inc. (Marine) | | 40 | | 406 | |
| Couchbase, Inc.* (Software) | | 21 | | 311 | |
| Coursera, Inc.* (Diversified Consumer Services) | | 86 | | 1,372 | |
| Covenant Logistics Group, Inc. - Class A (Road & Rail) | | 7 | | 232 | |
| Cowen, Inc. - Class A (Capital Markets) | | 20 | | 778 | |
| CRA International, Inc. (Professional Services) | | 5 | | 594 | |
| Cracker Barrel Old Country Store, Inc. (Hotels, Restaurants & Leisure) | | 17 | | 1,897 | |
| Crawford & Co. - Class A (Insurance) | | 12 | | 78 | |
| Credo Technology Group Holding, Ltd.* (Semiconductors & Semiconductor Equipment) | | 73 | | 1,265 | |
| Crescent Energy, Inc. - Class A (Oil, Gas & Consumable Fuels) | | 29 | | 350 | |
| Crinetics Pharmaceuticals, Inc.* (Biotechnology) | | 40 | | 784 | |
| Crocs, Inc.* (Textiles, Apparel & Luxury Goods) | | 46 | | 5,602 | |
| Cross Country Healthcare, Inc.* (Health Care Providers & Services) | | 27 | | | 749 | |
| CrossFirst Bankshares, Inc.* (Banks) | | 34 | | 459 | |
| CryoPort, Inc.* (Health Care Equipment & Supplies) | | 33 | | 753 | |
| Cryptyde, Inc.* (Containers & Packaging) | | 15 | | 3 | |
| CS Disco, Inc.* (Software) | | 17 | | 141 | |
| CSG Systems International, Inc. (IT Services) | | 23 | | 1,372 | |
| CSW Industrials, Inc. (Building Products) | | 11 | | 1,487 | |
| CTI BioPharma Corp.* (Biotechnology) | | 75 | | 415 | |
| CTO Realty Growth, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 14 | | 275 | |
| CTS Corp. (Electronic Equipment, Instruments & Components) | | 24 | | 1,068 | |
| Cue Health, Inc.* (Health Care Equipment & Supplies) | | 82 | | 215 | |
| Cullinan Oncology, Inc.* (Biotechnology) | | 23 | | 268 | |
| Cumulus Media, Inc.* - Class A (Media) | | 13 | | 87 | |
| Curo Group Holdings Corp. (Consumer Finance) | | 17 | | 69 | |
| Cushman & Wakefield PLC* (Real Estate Management & Development) | | 120 | | 1,732 | |
| Custom Truck One Source, Inc.* (Trading Companies & Distributors) | | 45 | | 319 | |
| Customers Bancorp, Inc.* (Banks) | | 23 | | 699 | |
| Cutera, Inc.* (Health Care Equipment & Supplies) | | 12 | | 418 | |
| CVB Financial Corp. (Banks) | | 100 | | 2,422 | |
| Cvent Holding Corp.* (Software) | | 34 | | 274 | |
| CVR Energy, Inc. (Oil, Gas & Consumable Fuels) | | 22 | | 730 | |
| Cytek Biosciences, Inc.* (Life Sciences Tools & Services) | | 86 | | 1,036 | |
| Cytokinetics, Inc.* (Biotechnology) | | 62 | | 2,634 | |
| Cyxtera Technologies, Inc.* (IT Services) | | 28 | | 90 | |
| Daily Journal Corp.* (Media) | | 1 | | 306 | |
| Dakota Gold Corp.* (Metals & Mining) | | 39 | | 137 | |
| Dana, Inc. (Auto Components) | | 97 | | 1,760 | |
| Danimer Scientific, Inc.* (Chemicals) | | 68 | | 155 | |
| Daseke, Inc.* (Road & Rail) | | 30 | | 209 | |
| Dave & Buster's Entertainment, Inc.* (Hotels, Restaurants & Leisure) | | 32 | | 1,387 | |
| Day One Biopharmaceuticals, Inc.* (Biotechnology) | | 21 | | 457 | |
| Deciphera Pharmaceuticals, Inc.* (Biotechnology) | | 35 | | 595 | |
| Delek US Holdings, Inc. (Oil, Gas & Consumable Fuels) | | 52 | | 1,392 | |
| Deluxe Corp. (Commercial Services & Supplies) | | 33 | | 660 | |
| Denali Therapeutics, Inc.* (Biotechnology) | | 82 | | 2,482 | |
| Denbury, Inc.* (Oil, Gas & Consumable Fuels) | | 38 | | 3,298 | |
| Denny's Corp.* (Hotels, Restaurants & Leisure) | | 42 | | 505 | |
| Design Therapeutics, Inc.* (Biotechnology) | | 26 | | 204 | |
| Designer Brands, Inc. (Specialty Retail) | | 38 | | 392 | |
| Desktop Metal, Inc.*(a) - Class A (Machinery) | | 202 | | 339 | |
See accompanying notes to schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | Value | |
| Destination XL Group, Inc.* (Specialty Retail) | | 43 | | $ | 307 | |
| DHI Group, Inc.* (Interactive Media & Services) | | 31 | | 184 | |
| DHT Holdings, Inc. (Oil, Gas & Consumable Fuels) | | 103 | | 883 | |
| Diamond Hill Investment Group, Inc. (Capital Markets) | | 2 | | 377 | |
| Diamond Offshore Drilling, Inc.* (Energy Equipment & Services) | | 76 | | 871 | |
| DiamondRock Hospitality Co. (Equity Real Estate Investment Trusts (REITs)) | | 158 | | 1,522 | |
| DICE Therapeutics, Inc.* (Pharmaceuticals) | | 27 | | 858 | |
| Diebold Nixdorf, Inc.* (Technology Hardware, Storage & Peripherals) | | 55 | | 131 | |
| Digi International, Inc.* (Communications Equipment) | | 26 | | 884 | |
| Digimarc Corp.* (Software) | | 10 | | 200 | |
| Digital Turbine, Inc.* (Software) | | 71 | | 1,233 | |
| DigitalBridge Group, Inc. (Real Estate Management & Development) | | 119 | | 1,760 | |
| DigitalOcean Holdings, Inc.* (IT Services) | | 52 | | 1,526 | |
| Dillard's, Inc.(a) - Class A (Multiline Retail) | | 3 | | 1,179 | |
| Dime Community Bancshares, Inc. (Banks) | | 25 | | 746 | |
| Dine Brands Global, Inc. (Hotels, Restaurants & Leisure) | | 11 | | 850 | |
| Diodes, Inc.* (Semiconductors & Semiconductor Equipment) | | 34 | | 3,032 | |
| Diversey Holdings, Ltd.* (Chemicals) | | 59 | | 358 | |
| Diversified Healthcare Trust (Equity Real Estate Investment Trusts (REITs)) | | 179 | | 142 | |
| DMC Global, Inc.* (Energy Equipment & Services) | | 14 | | 318 | |
| DocGo, Inc.* (Health Care Providers & Services) | | 62 | | 620 | |
| Doma Holdings, Inc.* (Real Estate Management & Development) | | 105 | | 75 | |
| Domo, Inc.* (Software) | | 23 | | 357 | |
| Donegal Group, Inc. - Class A (Insurance) | | 12 | | 182 | |
| Donnelley Financial Solutions, Inc.* (Capital Markets) | | 19 | | 867 | |
| Dorian LPG, Ltd. (Oil, Gas & Consumable Fuels) | | 23 | | 457 | |
| Dorman Products, Inc. (Auto Components) | | 20 | | 1,941 | |
| Douglas Dynamics, Inc. (Machinery) | | 17 | | 687 | |
| Douglas Elliman, Inc. (Real Estate Management & Development) | | 57 | | 266 | |
| Dream Finders Homes, Inc.* - Class A (Household Durables) | | 16 | | 202 | |
| Dril-Quip, Inc.* (Energy Equipment & Services) | | 25 | | 768 | |
| Duck Creek Technologies, Inc.* (Software) | | 58 | | 1,098 | |
| Ducommun, Inc.* (Aerospace & Defense) | | 8 | | 462 | |
| Duluth Holdings, Inc.* - Class B (Internet & Direct Marketing Retail) | | 10 | | 67 | |
| Duolingo, Inc.* (Diversified Consumer Services) | | 18 | | 1,719 | |
| DXP Enterprises, Inc.* (Trading Companies & Distributors) | | 11 | | 333 | |
| Dycom Industries, Inc.* (Construction & Engineering) | | 22 | | 2,098 | |
| Dynavax Technologies Corp.* (Biotechnology) | | 90 | | | 1,024 | |
| Dyne Therapeutics, Inc.* (Biotechnology) | | 24 | | 350 | |
| Dynex Capital, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | 34 | | 490 | |
| DZS, Inc.* (Communications Equipment) | | 13 | | 165 | |
| E2open Parent Holdings, Inc.* (Software) | | 150 | | 1,035 | |
| Eagle Bancorp, Inc. (Banks) | | 24 | | 1,140 | |
| Eagle Bulk Shipping, Inc. (Marine) | | 11 | | 630 | |
| Eagle Pharmaceuticals, Inc.* (Biotechnology) | | 8 | | 272 | |
| Earthstone Energy, Inc.* - Class A (Oil, Gas & Consumable Fuels) | | 33 | | 459 | |
| Easterly Government Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 69 | | 1,121 | |
| Eastern Bankshares, Inc. (Banks) | | 117 | | 1,892 | |
| Eastman Kodak Co.* (Technology Hardware, Storage & Peripherals) | | 43 | | 155 | |
| Ebix, Inc. (Software) | | 20 | | 381 | |
| EchoStar Corp.* - Class A (Diversified Telecommunication Services) | | 25 | | 468 | |
| Ecovyst, Inc.* (Chemicals) | | 54 | | 566 | |
| Edgewell Personal Care Co. (Personal Products) | | 39 | | 1,672 | |
| Edgewise Therapeutics, Inc.* (Pharmaceuticals) | | 29 | | 297 | |
| Editas Medicine, Inc.* (Biotechnology) | | 52 | | 514 | |
| eGain Corp.* (Software) | | 16 | | 156 | |
| eHealth, Inc.* (Insurance) | | 19 | | 158 | |
| Eiger Biopharmaceuticals, Inc.* (Biotechnology) | | 31 | | 59 | |
| El Pollo Loco Holdings, Inc. (Hotels, Restaurants & Leisure) | | 15 | | 184 | |
| elf Beauty, Inc.* (Personal Products) | | 37 | | 2,129 | |
| Ellington Financial, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | 43 | | 590 | |
| Elme Communities (Equity Real Estate Investment Trusts (REITs)) | | 66 | | 1,267 | |
| Embecta Corp. (Health Care Equipment & Supplies) | | 44 | | 1,161 | |
| EMCOR Group, Inc. (Construction & Engineering) | | 36 | | 5,337 | |
| Emergent BioSolutions, Inc.* (Biotechnology) | | 38 | | 501 | |
| Empire Petroleum Corp.* (Oil, Gas & Consumable Fuels) | | 8 | | 106 | |
| Empire State Realty Trust, Inc.(a) (Equity Real Estate Investment Trusts (REITs)) | | 100 | | 834 | |
| Employers Holdings, Inc. (Insurance) | | 20 | | 877 | |
| Enact Holdings, Inc. (Thrifts & Mortgage Finance) | | 23 | | 578 | |
| Enanta Pharmaceuticals, Inc.* (Biotechnology) | | 15 | | 801 | |
| Encore Capital Group, Inc.* (Consumer Finance) | | 17 | | 947 | |
| Encore Wire Corp. (Electrical Equipment) | | 13 | | 2,099 | |
| Energizer Holdings, Inc. (Household Products) | | 50 | | 1,855 | |
See accompanying notes to schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | Value | |
| Energy Fuels, Inc.* (Oil, Gas & Consumable Fuels) | | 117 | | $ | 862 | |
| Energy Recovery, Inc.* (Machinery) | | 41 | | 907 | |
| Energy Vault Holdings, Inc.* (Electrical Equipment) | | 62 | | 263 | |
| Enerpac Tool Group Corp. (Machinery) | | 43 | | 1,141 | |
| EnerSys (Electrical Equipment) | | 31 | | 2,574 | |
| Eneti, Inc. (Marine) | | 17 | | 180 | |
| Enfusion, Inc.* - Class A (Software) | | 20 | | 238 | |
| EngageSmart, Inc.* (Software) | | 27 | | 532 | |
| Ennis, Inc. (Commercial Services & Supplies) | | 19 | | 404 | |
| Enochian Biosciences, Inc.* (Biotechnology) | | 15 | | 18 | |
| Enova International, Inc.* (Consumer Finance) | | 23 | | 1,050 | |
| Enovix Corp.* (Electrical Equipment) | | 82 | | 651 | |
| EnPro Industries, Inc. (Machinery) | | 16 | | 1,937 | |
| Enstar Group, Ltd.* (Insurance) | | 8 | | 1,938 | |
| Entercom Communications Corp.* (Media) | | 91 | | 29 | |
| Enterprise Bancorp, Inc. (Banks) | | 7 | | 249 | |
| Enterprise Financial Services Corp. (Banks) | | 27 | | 1,440 | |
| Entravision Communications Corp. - Class A (Media) | | 45 | | 293 | |
| Envestnet, Inc.* (Software) | | 41 | | 2,665 | |
| ePlus, Inc.* (Electronic Equipment, Instruments & Components) | | 20 | | 996 | |
| EQRx, Inc.* (Biotechnology) | | 151 | | 370 | |
| Equitrans Midstream Corp. (Oil, Gas & Consumable Fuels) | | 309 | | 2,240 | |
| Equity Bancshares, Inc. - Class A (Banks) | | 11 | | 328 | |
| Equity Commonwealth (Equity Real Estate Investment Trusts (REITs)) | | 79 | | 2,016 | |
| Erasca, Inc.* (Biotechnology) | | 49 | | 196 | |
| Ermenegildo Zegna Holditalia SpA (Consumer Discretionary Products) | | 45 | | 516 | |
| ESCO Technologies, Inc. (Machinery) | | 19 | | 1,870 | |
| Esperion Therapeutics, Inc.* (Biotechnology) | | 56 | | 356 | |
| Esquire Financial Holdings, Inc. (Banks) | | 5 | | 233 | |
| ESS Tech, Inc.*(a) (Electrical Equipment) | | 61 | | 135 | |
| Essent Group, Ltd. (Thrifts & Mortgage Finance) | | 79 | | 3,479 | |
| Essential Properties Realty Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 106 | | 2,701 | |
| Ethan Allen Interiors, Inc. (Household Durables) | | 17 | | 489 | |
| European Wax Center, Inc. - Class A (Diversified Consumer Services) | | 18 | | 339 | |
| Eventbrite, Inc.* (Interactive Media & Services) | | 59 | | 525 | |
| Everbridge, Inc.* (Software) | | 30 | | 959 | |
| EverCommerce, Inc.* (Software) | | 18 | | 186 | |
| Everi Holdings, Inc.* (Hotels, Restaurants & Leisure) | | 65 | | 1,129 | |
| EverQuote, Inc.* - Class A (Interactive Media & Services) | | 15 | | 234 | |
| EVERTEC, Inc. (IT Services) | | 46 | | 1,699 | |
| EVgo, Inc.* (Specialty Retail) | | 51 | | 351 | |
| Evo Payments, Inc.* (IT Services) | | 36 | | 1,219 | |
| Evolent Health, Inc.* (Health Care Technology) | | 62 | | | 1,998 | |
| Evolus, Inc.* (Pharmaceuticals) | | 27 | | 281 | |
| Evolv Technologies Holdings, Inc.* (Electronic Equipment, Instruments & Components) | | 63 | | 193 | |
| Evoqua Water Technologies Corp.* (Machinery) | | 89 | | 4,317 | |
| Excelerate Energy, Inc. - Class A (Oil, Gas & Consumable Fuels) | | 14 | | 326 | |
| ExlService Holdings, Inc.* (IT Services) | | 24 | | 4,093 | |
| eXp World Holdings, Inc.(a) (Real Estate Management & Development) | | 52 | | 811 | |
| Exponent, Inc. (Professional Services) | | 38 | | 3,896 | |
| Express, Inc.* (Specialty Retail) | | 48 | | 56 | |
| Expro Group Holdings N.V.* (Energy Equipment & Services) | | 58 | | 1,096 | |
| Extreme Networks, Inc.* (Communications Equipment) | | 96 | | 1,731 | |
| EyePoint Pharmaceuticals, Inc.* (Pharmaceuticals) | | 20 | | 93 | |
| EZCORP, Inc.* - Class A (Consumer Finance) | | 38 | | 346 | |
| F45 Training Holdings, Inc.* (Hotels, Restaurants & Leisure) | | 28 | | 87 | |
| Fabrinet* (Electronic Equipment, Instruments & Components) | | 28 | | 3,685 | |
| Faraday Future Intelligent Electric, Inc.*(a) (Automobiles) | | 156 | | 133 | |
| Farmers & Merchants Bancorp, Inc. (Banks) | | 9 | | 256 | |
| Farmers National Bancorp (Banks) | | 24 | | 345 | |
| Farmland Partners, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 38 | | 489 | |
| FARO Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | 14 | | 385 | |
| Fastly, Inc.* - Class A (IT Services) | | 85 | | 880 | |
| Fate Therapeutics, Inc.* (Biotechnology) | | 63 | | 375 | |
| Fathom Digital Manufacturing C* (Machinery) | | 7 | | 10 | |
| FB Financial Corp. (Banks) | | 27 | | 1,014 | |
| Federal Agricultural Mortgage Corp. (Thrifts & Mortgage Finance) | | 7 | | 931 | |
| Federal Signal Corp. (Machinery) | | 45 | | 2,396 | |
| Federated Hermes, Inc. - Class B (Capital Markets) | | 64 | | 2,514 | |
| FibroGen, Inc.* (Biotechnology) | | 66 | | 1,558 | |
| Figs, Inc.* - Class A (Health Care Equipment & Supplies) | | 96 | | 859 | |
| Finance Of America Cos., Inc.* - Class A (Thrifts & Mortgage Finance) | | 30 | | 53 | |
| Financial Institutions, Inc. (Banks) | | 11 | | 272 | |
| First Advantage Corp.* (Professional Services) | | 44 | | 611 | |
| First Bancorp (Banks) | | 27 | | 1,076 | |
| First Bancorp (Banks) | | 137 | | 1,843 | |
| First Bank/Hamilton NJ (Banks) | | 12 | | 162 | |
| First Busey Corp. (Banks) | | 39 | | 931 | |
| First Business Financial Services, Inc. (Banks) | | 6 | | 215 | |
| First Commonwealth Financial Corp. (Banks) | | 70 | | 1,030 | |
See accompanying notes to schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | Value | |
| First Community Bancshares, Inc. (Banks) | | 12 | | $ | 390 | |
| First Financial Bancorp (Banks) | | 70 | | 1,773 | |
| First Financial Bankshares, Inc. (Banks) | | 98 | | 3,490 | |
| First Financial Corp. (Banks) | | 8 | | 359 | |
| First Foundation, Inc. (Banks) | | 38 | | 590 | |
| First Guaranty Bancshares, Inc. (Banks) | | 5 | | 110 | |
| First Internet Bancorp (Banks) | | 7 | | 184 | |
| First Interstate BancSystem, Inc. - Class A (Banks) | | 67 | | 2,404 | |
| First Merchants Corp. (Banks) | | 43 | | 1,834 | |
| First Mid Bancshares, Inc. (Banks) | | 14 | | 450 | |
| First Watch Restaurant Group, Inc.* (Hotels, Restaurants & Leisure) | | 11 | | 178 | |
| First Western Financial, Inc.* (Banks) | | 6 | | 158 | |
| FirstCash Holdings, Inc. (Consumer Finance) | | 28 | | 2,581 | |
| Fisker, Inc.*(a) (Automobiles) | | 133 | | 991 | |
| Five Star Bancorp (Banks) | | 9 | | 243 | |
| FLEX LNG, Ltd. (Oil, Gas & Consumable Fuels) | | 21 | | 653 | |
| Fluence Energy, Inc.* (Electrical Equipment) | | 27 | | 652 | |
| Fluor Corp.* (Construction & Engineering) | | 107 | | 3,932 | |
| Flushing Financial Corp. (Banks) | | 21 | | 403 | |
| Flywire Corp.* (IT Services) | | 43 | | 1,160 | |
| Focus Financial Partners, Inc.* (Capital Markets) | | 44 | | 1,987 | |
| Focus Universal, Inc.* (Electronic Equipment, Instruments & Components) | | 13 | | 75 | |
| Foghorn Therapeutics, Inc.* (Pharmaceuticals) | | 15 | | 129 | |
| Foot Locker, Inc. (Specialty Retail) | | 61 | | 2,653 | |
| Forestar Group, Inc.* (Real Estate Management & Development) | | 14 | | 208 | |
| ForgeRock, Inc.* - Class A (Software) | | 29 | | 576 | |
| FormFactor, Inc.* (Semiconductors & Semiconductor Equipment) | | 58 | | 1,632 | |
| Forrester Research, Inc.* (Professional Services) | | 9 | | 334 | |
| Forward Air Corp. (Air Freight & Logistics) | | 20 | | 2,158 | |
| Fossil Group, Inc.* (Textiles, Apparel & Luxury Goods) | | 36 | | 204 | |
| Four Corners Property Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 63 | | 1,812 | |
| Fox Factory Holding Corp.* (Auto Components) | | 32 | | 3,778 | |
| Franchise Group, Inc. (Diversified Consumer Services) | | 20 | | 618 | |
| Franklin BSP Realty Trust, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | 62 | | 899 | |
| Franklin Covey Co.* (Professional Services) | | 9 | | 418 | |
| Franklin Electric Co., Inc. (Machinery) | | 35 | | 3,161 | |
| Franklin Street Properties Corp. (Equity Real Estate Investment Trusts (REITs)) | | 74 | | 228 | |
| Fresh Del Monte Produce, Inc. (Food Products) | | 23 | | 658 | |
| Frontdoor, Inc.* (Diversified Consumer Services) | | 62 | | 1,685 | |
| Frontier Group Holdings, Inc.* (Airlines) | | 28 | | 352 | |
| Frontline PLC(a) (Oil, Gas & Consumable Fuels) | | 94 | | | 1,300 | |
| FRP Holdings, Inc.* (Real Estate Management & Development) | | 5 | | 281 | |
| FTC Solar, Inc.* (Electrical Equipment) | | 32 | | 88 | |
| fuboTV, Inc.*(a) (Interactive Media & Services) | | 141 | | 362 | |
| FuelCell Energy, Inc.* (Electrical Equipment) | | 308 | | 1,127 | |
| Fulcrum Therapeutics, Inc.* (Pharmaceuticals) | | 33 | | 416 | |
| Fulgent Genetics, Inc.* (Health Care Providers & Services) | | 16 | | 540 | |
| Full House Resorts, Inc.* (Hotels, Restaurants & Leisure) | | 25 | | 221 | |
| Fulton Financial Corp. (Banks) | | 122 | | 2,041 | |
| Funko, Inc.* (Distributors) | | 24 | | 290 | |
| FutureFuel Corp. (Chemicals) | | 19 | | 176 | |
| FVCBankcorp, Inc.* (Banks) | | 9 | | 154 | |
| Gambling.com Group, Ltd.* (Media) | | 7 | | 67 | |
| Gannett Co., Inc.* (Media) | | 108 | | 244 | |
| GATX Corp. (Trading Companies & Distributors) | | 26 | | 2,976 | |
| GCM Grosvenor, Inc. - Class A (Capital Markets) | | 31 | | 278 | |
| Gelesis Holdings, Inc.* (Biotechnology) | | 13 | | 4 | |
| Genco Shipping & Trading, Ltd. (Marine) | | 28 | | 508 | |
| GeneDx Holdings Corp.* (Health Care Technology) | | 119 | | 51 | |
| Generation Bio Co.* (Biotechnology) | | 36 | | 212 | |
| Genesco, Inc.* (Specialty Retail) | | 9 | | 435 | |
| Gentherm, Inc.* (Auto Components) | | 25 | | 1,861 | |
| Genworth Financial, Inc.* (Insurance) | | 373 | | 2,059 | |
| German American Bancorp, Inc. (Banks) | | 21 | | 809 | |
| Geron Corp.* (Biotechnology) | | 273 | | 901 | |
| Getty Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | 32 | | 1,166 | |
| Gevo, Inc.* (Oil, Gas & Consumable Fuels) | | 148 | | 314 | |
| Gibraltar Industries, Inc.* (Building Products) | | 23 | | 1,232 | |
| G-III Apparel Group, Ltd.* (Textiles, Apparel & Luxury Goods) | | 32 | | 541 | |
| Glacier Bancorp, Inc. (Banks) | | 84 | | 3,829 | |
| Gladstone Commercial Corp. (Equity Real Estate Investment Trusts (REITs)) | | 29 | | 493 | |
| Gladstone Land Corp. (Equity Real Estate Investment Trusts (REITs)) | | 24 | | 469 | |
| Glatfelter Corp. (Paper & Forest Products) | | 33 | | 145 | |
| Glaukos Corp.* (Health Care Equipment & Supplies) | | 34 | | 1,668 | |
| Global Industrial Co. (Trading Companies & Distributors) | | 10 | | 263 | |
| Global Medical REIT, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 46 | | 517 | |
| Global Net Lease, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 78 | | 1,166 | |
| Global Water Resources, Inc. (Water Utilities) | | 10 | | 142 | |
| Globalstar, Inc.* (Diversified Telecommunication Services) | | 515 | | 726 | |
| GMS, Inc.* (Trading Companies & Distributors) | | 32 | | 1,898 | |
See accompanying notes to schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | Value | |
| Gogo, Inc.* (Wireless Telecommunication Services) | | 37 | | $ | 620 | |
| Golar LNG, Ltd.* (Oil, Gas & Consumable Fuels) | | 76 | | 1,781 | |
| Golden Entertainment, Inc.* (Hotels, Restaurants & Leisure) | | 15 | | 593 | |
| Golden Ocean Group, Ltd. (Marine) | | 92 | | 881 | |
| Goosehead Insurance, Inc.* (Insurance) | | 14 | | 547 | |
| GoPro, Inc.* - Class A (Household Durables) | | 97 | | 597 | |
| Gossamer Bio, Inc.* (Biotechnology) | | 47 | | 124 | |
| GrafTech International, Ltd. (Electrical Equipment) | | 146 | | 955 | |
| Graham Holdings Co. - Class B (Diversified Consumer Services) | | 3 | | 1,959 | |
| Granite Construction, Inc. (Construction & Engineering) | | 33 | | 1,405 | |
| Granite Point Mortgage Trust, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | 39 | | 261 | |
| Gray Television, Inc. (Media) | | 62 | | 804 | |
| Great Lakes Dredge & Dock Corp.* (Construction & Engineering) | | 49 | | 337 | |
| Great Southern Bancorp, Inc. (Banks) | | 7 | | 409 | |
| Green Brick Partners, Inc.* (Household Durables) | | 20 | | 624 | |
| Green Dot Corp.* - Class A (Consumer Finance) | | 35 | | 633 | |
| Green Plains, Inc.* (Oil, Gas & Consumable Fuels) | | 41 | | 1,426 | |
| Greene County Bancorp, Inc. (Thrifts & Mortgage Finance) | | 3 | | 147 | |
| Greenidge Generation Holdings, Inc.* (Software) | | 11 | | 9 | |
| GreenLight Biosciences Holdings PBC* (Biotechnology) | | 67 | | 73 | |
| Greenlight Capital Re, Ltd.* - Class A (Insurance) | | 20 | | 197 | |
| Greif, Inc. - Class A (Containers & Packaging) | | 19 | | 1,357 | |
| Greif, Inc. - Class B (Containers & Packaging) | | 4 | | 330 | |
| Grid Dynamics Holdings, Inc.* (IT Services) | | 40 | | 501 | |
| Griffon Corp. (Building Products) | | 35 | | 1,431 | |
| Group 1 Automotive, Inc. (Specialty Retail) | | 11 | | 2,352 | |
| Groupon, Inc.* (Internet & Direct Marketing Retail) | | 16 | | 132 | |
| GrowGeneration Corp.* (Specialty Retail) | | 43 | | 222 | |
| Guaranty Bancshares, Inc. (Banks) | | 6 | | 198 | |
| Guess?, Inc.(a) (Specialty Retail) | | 23 | | 533 | |
| Gulfport Energy Corp.* (Oil, Gas & Consumable Fuels) | | 8 | | 545 | |
| H&E Equipment Services, Inc. (Trading Companies & Distributors) | | 24 | | 1,221 | |
| H.B. Fuller Co. (Chemicals) | | 40 | | 2,764 | |
| Haemonetics Corp.* (Health Care Equipment & Supplies) | | 38 | | 3,215 | |
| Halozyme Therapeutics, Inc.* (Biotechnology) | | 100 | | 5,178 | |
| Hamilton Lane, Inc. (Capital Markets) | | 27 | | 2,102 | |
| Hancock Whitney Corp. (Banks) | | 65 | | | 3,345 | |
| Hanmi Financial Corp. (Banks) | | 23 | | 536 | |
| Hannon Armstrong Sustainable Infrastructure Capital, Inc. - Class I (Mortgage Real Estate Investment Trusts (REITs)) | | 66 | | 2,436 | |
| HarborOne Bancorp, Inc. (Banks) | | 33 | | 450 | |
| Harmonic, Inc.* (Communications Equipment) | | 69 | | 909 | |
| Harmony Biosciences Holdings, Inc.* (Pharmaceuticals) | | 20 | | 963 | |
| Harsco Corp.* (Machinery) | | 59 | | 468 | |
| Haverty Furniture Cos., Inc. (Specialty Retail) | | 11 | | 384 | |
| Hawaiian Holdings, Inc.* (Airlines) | | 38 | | 468 | |
| Hawkins, Inc. (Chemicals) | | 15 | | 585 | |
| Haynes International, Inc. (Metals & Mining) | | 9 | | 501 | |
| HBT Financial, Inc. (Banks) | | 8 | | 168 | |
| HCI Group, Inc. (Insurance) | | 5 | | 251 | |
| Health Catalyst, Inc.* (Health Care Technology) | | 41 | | 570 | |
| Healthcare Services Group, Inc. (Commercial Services & Supplies) | | 56 | | 754 | |
| HealthEquity, Inc.* (Health Care Providers & Services) | | 62 | | 3,773 | |
| HealthStream, Inc.* (Health Care Technology) | | 18 | | 435 | |
| Heartland Express, Inc. (Road & Rail) | | 35 | | 589 | |
| Heartland Financial USA, Inc. (Banks) | | 31 | | 1,534 | |
| Hecla Mining Co. (Metals & Mining) | | 416 | | 2,567 | |
| Heidrick & Struggles International, Inc. (Professional Services) | | 15 | | 461 | |
| Helen of Troy, Ltd.* (Household Durables) | | 18 | | 2,036 | |
| Heliogen, Inc.* (Electrical Equipment) | | 68 | | 43 | |
| Helios Technologies, Inc. (Machinery) | | 24 | | 1,584 | |
| Helix Energy Solutions Group, Inc.* (Energy Equipment & Services) | | 108 | | 856 | |
| Helmerich & Payne, Inc. (Energy Equipment & Services) | | 77 | | 3,731 | |
| Herbalife Nutrition, Ltd.* (Personal Products) | | 74 | | 1,300 | |
| Herc Holdings, Inc. (Trading Companies & Distributors) | | 19 | | 2,951 | |
| Heritage Commerce Corp. (Banks) | | 44 | | 533 | |
| Heritage Financial Corp. (Banks) | | 26 | | 742 | |
| Heritage-Crystal Clean, Inc.* (Commercial Services & Supplies) | | 12 | | 446 | |
| Heron Therapeutics, Inc.* (Biotechnology) | | 77 | | 209 | |
| Hersha Hospitality Trust (Equity Real Estate Investment Trusts (REITs)) | | 24 | | 221 | |
| Heska Corp.* (Health Care Equipment & Supplies) | | 7 | | 626 | |
| HF Foods Group, Inc.* (Food & Staples Retailing) | | 27 | | 126 | |
| Hibbett, Inc. (Specialty Retail) | | 10 | | 664 | |
| HighPeak Energy, Inc. (Oil, Gas & Consumable Fuels) | | 5 | | 140 | |
| Hillenbrand, Inc. (Machinery) | | 52 | | 2,437 | |
| HilleVax, Inc.* (Biotechnology) | | 13 | | 222 | |
| Hillman Solutions Corp.* (Machinery) | | 101 | | 970 | |
| Hilltop Holdings, Inc. (Banks) | | 38 | | 1,243 | |
See accompanying notes to schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | Value | |
| Hilton Grand Vacations, Inc.* (Hotels, Restaurants & Leisure) | | 65 | | $ | 3,078 | |
| Hims & Hers Health, Inc.* (Health Care Providers & Services) | | 91 | | 753 | |
| Hingham Institution For Savings The (Thrifts & Mortgage Finance) | | 1 | | 292 | |
| Hippo Holdings, Inc.* (Insurance) | | 13 | | 218 | |
| HireRight Holdings Corp.* (Professional Services) | | 16 | | 183 | |
| HNI Corp. (Commercial Services & Supplies) | | 31 | | 985 | |
| Holley, Inc.* (Auto Components) | | 39 | | 129 | |
| Home Bancorp, Inc. (Thrifts & Mortgage Finance) | | 5 | | 192 | |
| Home BancShares, Inc. (Banks) | | 142 | | 3,389 | |
| Home Point Capital, Inc. (Thrifts & Mortgage Finance) | | 6 | | 11 | |
| HomeStreet, Inc. (Banks) | | 14 | | 386 | |
| HomeTrust Bancshares, Inc. (Banks) | | 11 | | 297 | |
| Hope Bancorp, Inc. (Banks) | | 87 | | 1,121 | |
| Horace Mann Educators Corp. (Insurance) | | 31 | | 1,104 | |
| Horizon Bancorp, Inc. (Banks) | | 30 | | 469 | |
| Hostess Brands, Inc.* (Food Products) | | 100 | | 2,313 | |
| Houlihan Lokey, Inc. (Capital Markets) | | 38 | | 3,764 | |
| Hovnanian Enterprises, Inc.* - Class A (Household Durables) | | 4 | | 232 | |
| Hub Group, Inc.* - Class A (Air Freight & Logistics) | | 24 | | 2,046 | |
| Hudson Technologies, Inc.* (Commercial Services & Supplies) | | 32 | | 327 | |
| Humacyte, Inc.* (Biotechnology) | | 44 | | 116 | |
| Huron Consulting Group, Inc.* (Professional Services) | | 15 | | 1,021 | |
| Hycroft Mining Holding Corp.* (Metals & Mining) | | 115 | | 69 | |
| Hydrofarm Holdings Group, Inc.* (Machinery) | | 33 | | 62 | |
| Hyliion Holdings Corp.* (Machinery) | | 103 | | 369 | |
| Hyster-Yale Materials Handling, Inc. (Machinery) | | 8 | | 259 | |
| Hyzon Motors, Inc.* (Machinery) | | 66 | | 141 | |
| I3 Verticals, Inc.* - Class A (IT Services) | | 17 | | 492 | |
| IBEX Holdings, Ltd.* (Commercial Services & Supplies) | | 7 | | 187 | |
| ICF International, Inc. (Professional Services) | | 14 | | 1,431 | |
| Ichor Holdings, Ltd.* (Semiconductors & Semiconductor Equipment) | | 21 | | 710 | |
| Icosavax, Inc.* (Biotechnology) | | 17 | | 179 | |
| Ideaya Biosciences, Inc.* (Biotechnology) | | 33 | | 562 | |
| Identiv, Inc.* (Electronic Equipment, Instruments & Components) | | 17 | | 148 | |
| IDT Corp.* - Class B (Diversified Telecommunication Services) | | 12 | | 353 | |
| IES Holdings, Inc.* (Construction & Engineering) | | 7 | | 279 | |
| IGM Biosciences, Inc.* (Biotechnology) | | 8 | | 182 | |
| iHeartMedia, Inc.* - Class A (Media) | | 91 | | 705 | |
| IMAX Corp.* (Entertainment) | | 35 | | 595 | |
| ImmunityBio, Inc.*(a) (Biotechnology) | | 62 | | | 236 | |
| ImmunoGen, Inc.* (Biotechnology) | | 162 | | 745 | |
| Immunovant, Inc.* (Biotechnology) | | 33 | | 586 | |
| Impinj, Inc.* (Semiconductors & Semiconductor Equipment) | | 16 | | 2,076 | |
| Inari Medical, Inc.* (Health Care Equipment & Supplies) | | 36 | | 2,054 | |
| Independence Realty Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 169 | | 3,181 | |
| Independent Bank Corp. (Banks) | | 34 | | 2,708 | |
| Independent Bank Corp. (Banks) | | 15 | | 333 | |
| Independent Bank Group, Inc. (Banks) | | 27 | | 1,655 | |
| indie Semiconductor, Inc.* - Class A (Semiconductors & Semiconductor Equipment) | | 77 | | 614 | |
| Indus Realty Trust, Inc. (Real Estate Management & Development) | | 4 | | 256 | |
| Industrial Logistics Properties Trust (Equity Real Estate Investment Trusts (REITs)) | | 49 | | 216 | |
| Infinera Corp.*(a) (Communications Equipment) | | 145 | | 1,061 | |
| Information Services Group, Inc. (IT Services) | | 26 | | 136 | |
| Ingevity Corp.* (Chemicals) | | 28 | | 2,308 | |
| Ingles Markets, Inc. (Food & Staples Retailing) | | 11 | | 1,045 | |
| Inhibrx, Inc.* (Biotechnology) | | 25 | | 625 | |
| Innospec, Inc. (Chemicals) | | 19 | | 2,147 | |
| Innovage Holding Corp.* (Health Care Providers & Services) | | 14 | | 105 | |
| Innovative Industrial Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 21 | | 1,885 | |
| Innovid Corp.* (Media) | | 58 | | 131 | |
| Innoviva, Inc.* (Pharmaceuticals) | | 48 | | 607 | |
| Inogen, Inc.* (Health Care Equipment & Supplies) | | 17 | | 397 | |
| Inotiv, Inc.* (Life Sciences Tools & Services) | | 13 | | 94 | |
| Inovio Pharmaceuticals, Inc.* (Biotechnology) | | 186 | | 309 | |
| Inseego Corp.* (Communications Equipment) | | 65 | | 75 | |
| Insight Enterprises, Inc.* (Electronic Equipment, Instruments & Components) | | 24 | | 2,705 | |
| Insmed, Inc.* (Biotechnology) | | 102 | | 2,196 | |
| Insperity, Inc. (Professional Services) | | 27 | | 2,985 | |
| Inspirato, Inc.* (Hotels, Restaurants & Leisure) | | 15 | | 19 | |
| Inspire Medical Systems, Inc.* (Health Care Technology) | | 21 | | 5,313 | |
| Inspired Entertainment, Inc.* (Hotels, Restaurants & Leisure) | | 16 | | 238 | |
| Installed Building Products, Inc. (Household Durables) | | 18 | | 1,982 | |
| Insteel Industries, Inc. (Building Products) | | 14 | | 420 | |
| Instil Bio, Inc.* (Biotechnology) | | 52 | | 42 | |
| Instructure Holdings, Inc.* (Software) | | 13 | | 351 | |
| Intapp, Inc.* (Software) | | 11 | | 319 | |
| Integer Holdings Corp.* (Health Care Equipment & Supplies) | | 25 | | 1,645 | |
| Integral Ad Science Holding Corp.* (Media) | | 29 | | 298 | |
See accompanying notes to schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | Value | |
| Intellia Therapeutics, Inc.* (Biotechnology) | | 64 | | $ | 2,716 | |
| Inter Parfums, Inc. (Personal Products) | | 14 | | 1,655 | |
| Intercept Pharmaceuticals, Inc.* (Biotechnology) | | 18 | | 329 | |
| InterDigital, Inc. (Communications Equipment) | | 22 | | 1,539 | |
| Interface, Inc. (Commercial Services & Supplies) | | 43 | | 489 | |
| International Bancshares Corp. (Banks) | | 40 | | 1,875 | |
| International Game Technology PLC (Hotels, Restaurants & Leisure) | | 74 | | 1,957 | |
| International Money Express, Inc.* (IT Services) | | 24 | | 546 | |
| International Seaways, Inc. (Oil, Gas & Consumable Fuels) | | 37 | | 1,437 | |
| Intra-Cellular Therapies, Inc.* (Pharmaceuticals) | | 69 | | 3,305 | |
| Intrepid Potash, Inc.* (Chemicals) | | 8 | | 262 | |
| InvenTrust Properties Corp. (Equity Real Estate Investment Trusts (REITs)) | | 51 | | 1,268 | |
| Invesco Mortgage Capital, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | 27 | | 397 | |
| Investors Title Co. (Insurance) | | 1 | | 162 | |
| Invitae Corp.* (Biotechnology) | | 184 | | 434 | |
| Invivyd, Inc.* (Biotechnology) | | 39 | | 89 | |
| IonQ, Inc.*(a) (Technology Hardware, Storage & Peripherals) | | 89 | | 395 | |
| Iovance Biotherapeutics, Inc.* (Biotechnology) | | 113 | | 899 | |
| iRadimed Corp. (Health Care Equipment & Supplies) | | 5 | | 187 | |
| iRhythm Technologies, Inc.* (Health Care Equipment & Supplies) | | 23 | | 2,261 | |
| Iridium Communications, Inc.* (Diversified Telecommunication Services) | | 94 | | 5,625 | |
| iRobot Corp.* (Household Durables) | | 20 | | 900 | |
| IronNet, Inc.* (Software) | | 50 | | 20 | |
| Ironwood Pharmaceuticals, Inc.* (Biotechnology) | | 103 | | 1,187 | |
| iStar, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 52 | | 483 | |
| iTeos Therapeutics, Inc.* (Biotechnology) | | 18 | | 376 | |
| Itron, Inc.* (Electronic Equipment, Instruments & Components) | | 34 | | 1,954 | |
| Ivanhoe Electric, Inc.* (Metals & Mining) | | 11 | | 146 | |
| IVERIC bio, Inc.* (Biotechnology) | | 101 | | 2,333 | |
| J & J Snack Foods Corp. (Food Products) | | 11 | | 1,576 | |
| Jack in the Box, Inc. (Hotels, Restaurants & Leisure) | | 16 | | 1,216 | |
| Jackson Financial, Inc. - Class A (Diversified Financial Services) | | 56 | | 2,466 | |
| James River Group Holdings, Ltd. (Insurance) | | 28 | | 634 | |
| Janus International Group, Inc.* (Building Products) | | 61 | | 671 | |
| Janux Therapeutics, Inc.* (Biotechnology) | | 13 | | 289 | |
| JELD-WEN Holding, Inc.* (Building Products) | | 63 | | 797 | |
| JOANN, Inc. (Specialty Retail) | | 8 | | 31 | |
| Joby Aviation, Inc.*(a) (Airlines) | | 194 | | 857 | |
| John B Sanfilippo & Son, Inc. (Food Products) | | 7 | | | 592 | |
| John Bean Technologies Corp. (Machinery) | | 24 | | 2,682 | |
| John Marshall Bancorp, Inc. (Banks) | | 9 | | 223 | |
| John Wiley & Sons, Inc. - Class A (Media) | | 32 | | 1,465 | |
| Johnson Outdoors, Inc. - Class A (Leisure Products) | | 4 | | 274 | |
| Jounce Therapeutics, Inc.* (Biotechnology) | | 32 | | 37 | |
| Kadant, Inc. (Machinery) | | 9 | | 1,834 | |
| Kaiser Aluminum Corp. (Metals & Mining) | | 12 | | 1,050 | |
| Kaleyra, Inc.* (Software) | | 24 | | 27 | |
| KalVista Pharmaceuticals, Inc.* (Biotechnology) | | 18 | | 143 | |
| Kaman Corp. - Class A (Trading Companies & Distributors) | | 21 | | 530 | |
| KAR Auction Services, Inc.* (Commercial Services & Supplies) | | 81 | | 1,179 | |
| Karat Packaging, Inc. (Trading Companies & Distributors) | | 4 | | 60 | |
| Karuna Therapeutics, Inc.* (Biotechnology) | | 23 | | 4,587 | |
| Karyopharm Therapeutics, Inc.* (Biotechnology) | | 59 | | 195 | |
| KB Home (Household Durables) | | 58 | | 2,230 | |
| Kearny Financial Corp. (Thrifts & Mortgage Finance) | | 45 | | 422 | |
| Kelly Services, Inc. - Class A (Professional Services) | | 25 | | 453 | |
| Kennametal, Inc. (Machinery) | | 61 | | 1,739 | |
| Kennedy-Wilson Holdings, Inc. (Real Estate Management & Development) | | 89 | | 1,591 | |
| Keros Therapeutics, Inc.* (Biotechnology) | | 14 | | 820 | |
| Kezar Life Sciences, Inc.* (Biotechnology) | | 40 | | 287 | |
| Kforce, Inc. (Professional Services) | | 15 | | 842 | |
| Kimball Electronics, Inc.* (Electronic Equipment, Instruments & Components) | | 18 | | 459 | |
| Kimball International, Inc. - Class B (Commercial Services & Supplies) | | 27 | | 200 | |
| Kinetik Holdings, Inc. - Class A (Oil, Gas & Consumable Fuels) | | 12 | | 375 | |
| Kiniksa Pharmaceuticals, Ltd.* - Class A (Biotechnology) | | 23 | | 333 | |
| Kinnate Biopharma, Inc.* (Biotechnology) | | 22 | | 166 | |
| Kinsale Capital Group, Inc. (Insurance) | | 16 | | 4,454 | |
| Kite Realty Group Trust (Equity Real Estate Investment Trusts (REITs)) | | 164 | | 3,558 | |
| KKR Real Estate Finance Trust, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | 43 | | 685 | |
| Knowles Corp.* (Electronic Equipment, Instruments & Components) | | 67 | | 1,288 | |
| Kodiak Sciences, Inc.* (Biotechnology) | | 25 | | 202 | |
| Kontoor Brands, Inc. (Textiles, Apparel & Luxury Goods) | | 42 | | 2,006 | |
| Koppers Holdings, Inc. (Chemicals) | | 15 | | 519 | |
| KORE Group Holdings, Inc.* (Wireless Telecommunication Services) | | 32 | | 80 | |
| Korn Ferry (Professional Services) | | 40 | | 2,160 | |
| Kosmos Energy, Ltd.* (Oil, Gas & Consumable Fuels) | | 340 | | 2,689 | |
| Kratos Defense & Security Solutions, Inc.* (Aerospace & Defense) | | 93 | | 1,065 | |
See accompanying notes to schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | Value | |
| Krispy Kreme, Inc. (Hotels, Restaurants & Leisure) | | 54 | | $ | 659 | |
| Kronos Bio, Inc.* (Chemicals) | | 31 | | 74 | |
| Kronos Worldwide, Inc. (Chemicals) | | 17 | | 198 | |
| Krystal Biotech, Inc.* (Biotechnology) | | 16 | | 1,330 | |
| Kulicke & Soffa Industries, Inc. (Semiconductors & Semiconductor Equipment) | | 43 | | 2,197 | |
| Kura Oncology, Inc.* (Biotechnology) | | 49 | | 677 | |
| Kura Sushi USA, Inc.* - Class A (Hotels, Restaurants & Leisure) | | 3 | | 186 | |
| Kymera Therapeutics, Inc.* (Biotechnology) | | 28 | | 1,047 | |
| Ladder Capital Corp. (Mortgage Real Estate Investment Trusts (REITs)) | | 86 | | 963 | |
| Lakeland Bancorp, Inc. (Banks) | | 47 | | 906 | |
| Lakeland Financial Corp. (Banks) | | 18 | | 1,273 | |
| Lancaster Colony Corp. (Food Products) | | 15 | | 2,878 | |
| Lands' End, Inc.* (Internet & Direct Marketing Retail) | | 11 | | 99 | |
| Landsea Homes Corp.* (Household Durables) | | 7 | | 46 | |
| Lantheus Holdings, Inc.* (Health Care Equipment & Supplies) | | 51 | | 2,933 | |
| Latch, Inc.* (Software) | | 82 | | 75 | |
| Latham Group, Inc.* (Leisure Products) | | 32 | | 141 | |
| Laureate Education, Inc. - Class A (Diversified Consumer Services) | | 101 | | 1,109 | |
| Lawson Products, Inc.* (Trading Companies & Distributors) | | 4 | | 165 | |
| La-Z-Boy, Inc. (Household Durables) | | 32 | | 910 | |
| LCI Industries (Auto Components) | | 19 | | 2,132 | |
| Leafly Holdings, Inc.* (Interactive Media & Services) | | 23 | | 15 | |
| Legacy Housing Corp.* (Household Durables) | | 7 | | 140 | |
| Legalzoom.com, Inc.* (Professional Services) | | 72 | | 611 | |
| LeMaitre Vascular, Inc. (Health Care Equipment & Supplies) | | 15 | | 708 | |
| Lemonade, Inc.* (Insurance) | | 35 | | 570 | |
| LendingClub Corp.* (Consumer Finance) | | 78 | | 756 | |
| LendingTree, Inc.* (Thrifts & Mortgage Finance) | | 8 | | 317 | |
| Lexicon Pharmaceuticals, Inc.* (Biotechnology) | | 63 | | 141 | |
| LGI Homes, Inc.* (Household Durables) | | 15 | | 1,708 | |
| LHC Group, Inc.* (Health Care Providers & Services) | | 22 | | 3,489 | |
| Liberty Energy, Inc. (Energy Equipment & Services) | | 105 | | 1,662 | |
| Liberty Latin America, Ltd.* - Class A (Media) | | 29 | | 285 | |
| Liberty Latin America, Ltd.* - Class C (Media) | | 110 | | 1,084 | |
| Liberty Media Corp-Liberty Braves* - Class A (Entertainment) | | 8 | | 281 | |
| Liberty Media Corp-Liberty Braves* - Class C (Entertainment) | | 28 | | 971 | |
| Li-Cycle Holdings Corp.* (Commercial Services & Supplies) | | 103 | | | 560 | |
| Life Time Group Holdings, Inc.* (Hotels, Restaurants & Leisure) | | 32 | | 601 | |
| Lifecore Biomedical, Inc.* (Food Products) | | 20 | | 124 | |
| LifeStance Health Group, Inc.* (Health Care Providers & Services) | | 54 | | 285 | |
| Lifetime Brands, Inc. (Household Durables) | | 10 | | 80 | |
| Ligand Pharmaceuticals, Inc.* (Pharmaceuticals) | | 11 | | 767 | |
| Light & Wonder, Inc.* (Hotels, Restaurants & Leisure) | | 71 | | 4,633 | |
| Lightning eMotors, Inc.* (Machinery) | | 30 | | 26 | |
| Lightwave Logic, Inc.* (Electronic Equipment, Instruments & Components) | | 85 | | 535 | |
| Limelight Networks, Inc.* (IT Services) | | 103 | | 162 | |
| Lindblad Expeditions Holdings, Inc.* (Hotels, Restaurants & Leisure) | | 25 | | 298 | |
| Lindsay Corp. (Machinery) | | 8 | | 1,253 | |
| Lions Gate Entertainment Corp.* - Class A (Entertainment) | | 44 | | 351 | |
| Lions Gate Entertainment Corp.* - Class B (Entertainment) | | 87 | | 663 | |
| Liquidia Corp.* (Pharmaceuticals) | | 36 | | 238 | |
| Liquidity Services, Inc.* (Internet & Direct Marketing Retail) | | 18 | | 270 | |
| LivaNova PLC* (Health Care Equipment & Supplies) | | 40 | | 2,248 | |
| Live Oak Bancshares, Inc. (Banks) | | 25 | | 856 | |
| Livent Corp.* (Chemicals) | | 122 | | 3,162 | |
| LivePerson, Inc.* (Software) | | 53 | | 683 | |
| LiveRamp Holdings, Inc.* (Software) | | 50 | | 1,338 | |
| LiveVox Holdings, Inc.* (Software) | | 17 | | 49 | |
| LL Flooring Holdings, Inc.* (Specialty Retail) | | 22 | | 133 | |
| Local Bounti Corp.* (Food Products) | | 49 | | 47 | |
| Lordstown Motors Corp.* - Class A (Automobiles) | | 133 | | 174 | |
| Loyalty Ventures, Inc.* (Media) | | 15 | | 28 | |
| LSB Industries, Inc.* (Chemicals) | | 56 | | 712 | |
| LTC Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 30 | | 1,145 | |
| Lulu's Fashion Lounge Holdings, Inc.* (Internet & Direct Marketing Retail) | | 13 | | 42 | |
| Luminar Technologies, Inc.* (Auto Components) | | 189 | | 1,261 | |
| Luther Burbank Corp. (Thrifts & Mortgage Finance) | | 11 | | 129 | |
| Luxfer Holdings PLC (Machinery) | | 20 | | 331 | |
| LXP Industrial Trust (Equity Real Estate Investment Trusts (REITs)) | | 205 | | 2,368 | |
| Lyell Immunopharma, Inc.* (Biotechnology) | | 130 | | 425 | |
| M.D.C Holdings, Inc. (Household Durables) | | 43 | | 1,624 | |
| M/I Homes, Inc.* (Household Durables) | | 20 | | 1,196 | |
| Macatawa Bank Corp. (Banks) | | 20 | | 220 | |
| MACOM Technology Solutions Holdings, Inc.* (Semiconductors & Semiconductor Equipment) | | 38 | | 2,547 | |
| MacroGenics, Inc.* (Biotechnology) | | 45 | | 260 | |
| Madison Square Garden Entertainment Corp.* (Entertainment) | | 20 | | 1,045 | |
See accompanying notes to schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | Value | |
| Madrigal Pharmaceuticals, Inc.* (Biotechnology) | | 10 | | $ | 2,883 | |
| Magnite, Inc.* (Media) | | 100 | | 1,208 | |
| Magnolia Oil & Gas Corp. (Oil, Gas & Consumable Fuels) | | 131 | | 3,093 | |
| Malibu Boats, Inc.* (Leisure Products) | | 15 | | 909 | |
| MannKind Corp.* (Biotechnology) | | 192 | | 1,050 | |
| Marathon Digital Holdings, Inc.*(a) (IT Services) | | 88 | | 634 | |
| Marcus & Millichap, Inc. (Real Estate Management & Development) | | 19 | | 689 | |
| Marine Products Corp. (Leisure Products) | | 6 | | 80 | |
| MarineMax, Inc.* (Specialty Retail) | | 16 | | 500 | |
| MarketWise, Inc.* (Capital Markets) | | 13 | | 29 | |
| Markforged Holding Corp.* (Machinery) | | 86 | | 115 | |
| Marqeta, Inc.* - Class A (IT Services) | | 327 | | 2,167 | |
| Marten Transport, Ltd. (Road & Rail) | | 44 | | 972 | |
| Masonite International Corp.* (Building Products) | | 17 | | 1,551 | |
| MasterCraft Boat Holdings, Inc.* (Leisure Products) | | 13 | | 374 | |
| Matador Resources Co. (Oil, Gas & Consumable Fuels) | | 85 | | 5,624 | |
| Materion Corp. (Metals & Mining) | | 15 | | 1,354 | |
| Mativ Holdings, Inc. (Paper & Forest Products) | | 41 | | 1,130 | |
| Matson, Inc. (Marine) | | 28 | | 1,851 | |
| Matterport, Inc.* (Software) | | 169 | | 595 | |
| Matthews International Corp. - Class A (Commercial Services & Supplies) | | 22 | | 815 | |
| Maxar Technologies, Inc. (Aerospace & Defense) | | 55 | | 2,842 | |
| MaxCyte, Inc.* (Biotechnology) | | 65 | | 380 | |
| Maximus, Inc. (IT Services) | | 46 | | 3,442 | |
| MaxLinear, Inc.* - Class A (Semiconductors & Semiconductor Equipment) | | 55 | | 2,266 | |
| MBIA, Inc.* (Insurance) | | 36 | | 468 | |
| McGrath RentCorp (Trading Companies & Distributors) | | 18 | | 1,792 | |
| MediaAlpha, Inc.* - Class A (Interactive Media & Services) | | 19 | | 265 | |
| Medifast, Inc. (Personal Products) | | 8 | | 892 | |
| Medpace Holdings, Inc.* (Life Sciences Tools & Services) | | 19 | | 4,201 | |
| MeiraGTx Holdings PLC* (Biotechnology) | | 23 | | 192 | |
| Mercantile Bank Corp. (Banks) | | 12 | | 412 | |
| Merchants Bancorp (Thrifts & Mortgage Finance) | | 12 | | 345 | |
| Mercury General Corp. (Insurance) | | 20 | | 715 | |
| MeridianLink, Inc.* (Software) | | 17 | | 270 | |
| Merit Medical Systems, Inc.* (Health Care Equipment & Supplies) | | 42 | | 2,997 | |
| Meritage Homes Corp.* (Household Durables) | | 27 | | 2,907 | |
| Mersana Therapeutics, Inc.* (Biotechnology) | | 70 | | 461 | |
| Mesa Laboratories, Inc. (Health Care Equipment & Supplies) | | 4 | | 778 | |
| Methode Electronics, Inc. (Electronic Equipment, Instruments & Components) | | 27 | | | 1,289 | |
| Metrocity Bankshares, Inc. (Banks) | | 14 | | 283 | |
| Metropolitan Bank Holding Corp.* (Banks) | | 8 | | 475 | |
| MFA Financial, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | 77 | | 916 | |
| MGE Energy, Inc. (Electric Utilities) | | 27 | | 1,974 | |
| MGP Ingredients, Inc. (Beverages) | | 11 | | 1,073 | |
| MicroStrategy, Inc.* (Software) | | 7 | | 1,762 | |
| Microvast Holdings, Inc.* (Machinery) | | 130 | | 212 | |
| MicroVision, Inc.*(a) (Electronic Equipment, Instruments & Components) | | 125 | | 314 | |
| Mid Penn Bancorp, Inc. (Banks) | | 11 | | 346 | |
| Middlesex Water Co. (Water Utilities) | | 13 | | 1,090 | |
| Midland States Bancorp, Inc. (Banks) | | 16 | | 408 | |
| MidWestOne Financial Group, Inc. (Banks) | | 11 | | 343 | |
| Miller Industries, Inc. (Machinery) | | 8 | | 232 | |
| MillerKnoll, Inc. (Commercial Services & Supplies) | | 57 | | 1,361 | |
| MiMedx Group, Inc.* (Biotechnology) | | 85 | | 329 | |
| Minerals Technologies, Inc. (Chemicals) | | 24 | | 1,667 | |
| Mirion Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | 103 | | 819 | |
| Mirum Pharmaceuticals, Inc.* (Biotechnology) | | 14 | | 329 | |
| Mission Produce, Inc.* (Food Products) | | 30 | | 374 | |
| Mitek System, Inc.* (Software) | | 32 | | 316 | |
| Model N, Inc.* (Software) | | 28 | | 1,110 | |
| Modine Manufacturing Co.* (Auto Components) | | 37 | | 884 | |
| ModivCare, Inc.* (Health Care Providers & Services) | | 10 | | 1,073 | |
| Moelis & Co. (Capital Markets) | | 48 | | 2,243 | |
| Momentive Global, Inc.* (Software) | | 98 | | 756 | |
| Momentus, Inc.*(a) (Aerospace & Defense) | | 42 | | 38 | |
| Monarch Casino & Resort, Inc.* (Hotels, Restaurants & Leisure) | | 10 | | 766 | |
| MoneyGram International, Inc.* (IT Services) | | 71 | | 765 | |
| Moneylion, Inc.* (IT Services) | | 110 | | 87 | |
| Monro, Inc. (Specialty Retail) | | 23 | | 1,171 | |
| Montauk Renewables, Inc.* (Independent Power and Renewable Electricity Producers) | | 48 | | 533 | |
| Monte Rosa Therapeutics, Inc.* (Biotechnology) | | 22 | | 163 | |
| Montrose Environmental Group, Inc.* (Commercial Services & Supplies) | | 21 | | 1,137 | |
| Moog, Inc. - Class A (Aerospace & Defense) | | 22 | | 2,097 | |
| Morphic Holding, Inc.* (Biotechnology) | | 19 | | 622 | |
| Motorcar Parts of America, Inc.* (Auto Components) | | 14 | | 204 | |
| Movado Group, Inc. (Textiles, Apparel & Luxury Goods) | | 12 | | 424 | |
| Mr. Cooper Group, Inc.* (Thrifts & Mortgage Finance) | | 52 | | 2,392 | |
| MRC Global, Inc.* (Trading Companies & Distributors) | | 62 | | 843 | |
| Mueller Industries, Inc. (Machinery) | | 42 | | 2,753 | |
| Mueller Water Products, Inc. - Class A (Machinery) | | 117 | | 1,480 | |
See accompanying notes to schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | Value | |
| Mullen Automotive, Inc.*(a) (Software) | | 249 | | $ | 86 | |
| Multiplan Corp.* (Health Care Technology) | | 284 | | 375 | |
| Murphy Oil Corp. (Oil, Gas & Consumable Fuels) | | 111 | | 4,841 | |
| Murphy USA, Inc. (Specialty Retail) | | 16 | | 4,351 | |
| MVB Financial Corp. (Banks) | | 8 | | 177 | |
| Myers Industries, Inc. (Containers & Packaging) | | 27 | | 650 | |
| MYR Group, Inc.* (Construction & Engineering) | | 12 | | 1,189 | |
| Myriad Genetics, Inc.* (Biotechnology) | | 60 | | 1,183 | |
| N-able, Inc.* (Software) | | 51 | | 524 | |
| Nabors Industries, Ltd.* (Energy Equipment & Services) | | 7 | | 1,243 | |
| NACCO Industries, Inc. - Class A (Oil, Gas & Consumable Fuels) | | 3 | | 117 | |
| NanoString Technologies, Inc.* (Life Sciences Tools & Services) | | 35 | | 370 | |
| Nano-X Imaging, Ltd.* (Health Care Equipment & Supplies) | | 34 | | 313 | |
| Napco Security Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | 22 | | 637 | |
| National Bank Holdings Corp. (Banks) | | 22 | | 929 | |
| National Beverage Corp.* (Beverages) | | 18 | | 796 | |
| National Energy Services Reunited Corp.* (Energy Equipment & Services) | | 29 | | 219 | |
| National Health Investors, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 31 | | 1,824 | |
| National Healthcare Corp. (Health Care Providers & Services) | | 9 | | 536 | |
| National Presto Industries, Inc. (Aerospace & Defense) | | 4 | | 306 | |
| National Research Corp. (Health Care Providers & Services) | | 11 | | 511 | |
| National Vision Holdings, Inc.* (Specialty Retail) | | 59 | | 2,425 | |
| National Western Life Group, Inc. - Class A (Insurance) | | 2 | | 554 | |
| Natural Grocers by Vitamin Cottage, Inc. (Food & Staples Retailing) | | 7 | | 70 | |
| Nature's Sunshine Products, Inc.* (Personal Products) | | 10 | | 106 | |
| Nautilus Biotechnology, Inc.* (Life Sciences Tools & Services) | | 36 | | 71 | |
| Navient Corp. (Consumer Finance) | | 80 | | 1,518 | |
| NBT Bancorp, Inc. (Banks) | | 31 | | 1,219 | |
| Nektar Therapeutics* (Pharmaceuticals) | | 137 | | 373 | |
| Nelnet, Inc. - Class A (Consumer Finance) | | 11 | | 1,050 | |
| NEOGAMES SA* (Hotels, Restaurants & Leisure) | | 10 | | 129 | |
| Neogen Corp.* (Health Care Equipment & Supplies) | | 163 | | 3,490 | |
| NeoGenomics, Inc.* (Life Sciences Tools & Services) | | 95 | | 1,129 | |
| NerdWallet, Inc.* - Class A (Interactive Media & Services) | | 20 | | 234 | |
| Nerdy, Inc.* (Diversified Consumer Services) | | 42 | | 119 | |
| NETGEAR, Inc.* (Communications Equipment) | | 21 | | | 419 | |
| NetScout Systems, Inc.* (Communications Equipment) | | 52 | | 1,669 | |
| NETSTREIT Corp. (Equity Real Estate Investment Trusts (REITs)) | | 41 | | 825 | |
| Nevro Corp.* (Health Care Equipment & Supplies) | | 26 | | 955 | |
| New Jersey Resources Corp. (Gas Utilities) | | 72 | | 3,594 | |
| New York Mortgage Trust, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | 279 | | 870 | |
| Newmark Group, Inc. (Real Estate Management & Development) | | 102 | | 874 | |
| Newpark Resources, Inc.* (Energy Equipment & Services) | | 65 | | 295 | |
| Nexpoint Real Estate Finance, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | 6 | | 114 | |
| NexPoint Residential Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 17 | | 859 | |
| NextDecade Corp.* (Oil, Gas & Consumable Fuels) | | 27 | | 162 | |
| NextGen Healthcare, Inc.* (Health Care Technology) | | 43 | | 818 | |
| NexTier Oilfield Solutions, Inc.* (Energy Equipment & Services) | | 132 | | 1,243 | |
| NextNav, Inc.* (Software) | | 50 | | 148 | |
| NGM Biopharmaceuticals, Inc.* (Pharmaceuticals) | | 30 | | 157 | |
| NI Holdings, Inc.* (Insurance) | | 6 | | 80 | |
| Nicolet Bankshares, Inc.* (Banks) | | 9 | | 656 | |
| Nikola Corp.*(a) (Machinery) | | 255 | | 691 | |
| Nkarta, Inc.* (Biotechnology) | | 25 | | 133 | |
| NL Industries, Inc. (Commercial Services & Supplies) | | 6 | | 42 | |
| nLight, Inc.* (Electronic Equipment, Instruments & Components) | | 33 | | 409 | |
| NMI Holdings, Inc.* - Class A (Thrifts & Mortgage Finance) | | 62 | | 1,440 | |
| Noble Corp. PLC* (Energy Equipment & Services) | | 63 | | 2,563 | |
| Noodles & Co.* (Hotels, Restaurants & Leisure) | | 31 | | 195 | |
| Nordic American Tankers, Ltd. (Oil, Gas & Consumable Fuels) | | 155 | | 471 | |
| Northeast Bank (Banks) | | 5 | | 236 | |
| Northern Oil And Gas, Inc. (Oil, Gas & Consumable Fuels) | | 50 | | 1,676 | |
| Northfield Bancorp, Inc. (Thrifts & Mortgage Finance) | | 32 | | 478 | |
| Northwest Bancshares, Inc. (Banks) | | 91 | | 1,287 | |
| Northwest Natural Holding Co. (Gas Utilities) | | 26 | | 1,304 | |
| Northwest Pipe Co.* (Construction & Engineering) | | 7 | | 262 | |
| NorthWestern Corp. (Multi-Utilities) | | 44 | | 2,499 | |
| Novagold Resources, Inc.* (Metals & Mining) | | 180 | | 1,136 | |
| Novanta, Inc.* (Electronic Equipment, Instruments & Components) | | 27 | | 4,359 | |
| NOW, Inc.* (Trading Companies & Distributors) | | 83 | | 1,165 | |
See accompanying notes to schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | Value | |
| Nu Skin Enterprises, Inc. - Class A (Personal Products) | | 37 | | $ | 1,587 | |
| Nurix Therapeutics, Inc.* (Biotechnology) | | 35 | | 430 | |
| NuScale Power Corp.* (Electrical Equipment) | | 24 | | 256 | |
| Nutex Health, Inc.* (Health Care Technology) | | 189 | | 253 | |
| Nuvalent, Inc.* - Class A (Biotechnology) | | 15 | | 454 | |
| NuVasive, Inc.* (Health Care Equipment & Supplies) | | 39 | | 1,778 | |
| Nuvation Bio, Inc.* (Pharmaceuticals) | | 88 | | 216 | |
| NV5 Global, Inc.* (Construction & Engineering) | | 10 | | 1,333 | |
| Oceaneering International, Inc.* (Energy Equipment & Services) | | 75 | | 1,601 | |
| Oceanfirst Financial Corp. (Thrifts & Mortgage Finance) | | 44 | | 1,052 | |
| Ocugen, Inc.*(a) (Biotechnology) | | 164 | | 208 | |
| Ocular Therapeutix, Inc.* (Pharmaceuticals) | | 58 | | 227 | |
| Offerpad Solutions, Inc.* (Real Estate Management & Development) | | 51 | | 47 | |
| Office Properties Income Trust (Equity Real Estate Investment Trusts (REITs)) | | 36 | | 618 | |
| OFG Bancorp (Banks) | | 35 | | 991 | |
| O-I Glass, Inc.* (Containers & Packaging) | | 117 | | 2,252 | |
| Oil States International, Inc.* (Energy Equipment & Services) | | 47 | | 402 | |
| Old National Bancorp (Banks) | | 221 | | 3,867 | |
| Old Second Bancorp, Inc. (Banks) | | 32 | | 544 | |
| Olo, Inc.* - Class A (Software) | | 68 | | 545 | |
| Olympic Steel, Inc. (Metals & Mining) | | 7 | | 310 | |
| Omega Flex, Inc. (Machinery) | | 2 | | 213 | |
| OmniAb, Inc.* (Life Sciences Tools & Services) | | 58 | | 240 | |
| Omnicell, Inc.* (Health Care Equipment & Supplies) | | 33 | | 1,831 | |
| ON24, Inc.* (Software) | | 31 | | 288 | |
| Ondas Holdings, Inc.* (Communications Equipment) | | 27 | | 54 | |
| ONE Gas, Inc. (Gas Utilities) | | 40 | | 3,294 | |
| One Liberty Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 12 | | 289 | |
| OneSpan, Inc.* (Software) | | 30 | | 414 | |
| OneSpaWorld Holdings, Ltd.* (Diversified Consumer Services) | | 50 | | 526 | |
| Onewater Marine, Inc.* (Specialty Retail) | | 8 | | 262 | |
| Onto Innovation, Inc.* (Semiconductors & Semiconductor Equipment) | | 37 | | 2,910 | |
| Ooma, Inc.* (Diversified Telecommunication Services) | | 17 | | 244 | |
| Open Lending Corp.* - Class A (Capital Markets) | | 79 | | 693 | |
| OPKO Health, Inc.* (Biotechnology) | | 304 | | 392 | |
| Oportun Financial Corp.* (Consumer Finance) | | 21 | | 147 | |
| Oppenheimer Holdings, Inc. - Class A (Capital Markets) | | 6 | | 286 | |
| OppFi, Inc.* (Consumer Finance) | | 10 | | 23 | |
| OptimizeRx Corp.* (Health Care Technology) | | 13 | | | 233 | |
| Option Care Health, Inc.* (Health Care Providers & Services) | | 118 | | 3,407 | |
| OraSure Technologies, Inc.* (Health Care Equipment & Supplies) | | 54 | | 301 | |
| Orchid Island Capital, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | 25 | | 305 | |
| Organogenesis Holdings, Inc.* (Biotechnology) | | 53 | | 136 | |
| Origin Bancorp, Inc. (Banks) | | 17 | | 638 | |
| Origin Materials, Inc.* (Chemicals) | | 79 | | 478 | |
| Orion Engineered Carbons SA (Chemicals) | | 46 | | 967 | |
| Orion Office REIT, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 43 | | 415 | |
| Ormat Technologies, Inc. (Independent Power and Renewable Electricity Producers) | | 37 | | 3,425 | |
| Orrstown Financial Services, Inc. (Banks) | | 8 | | 198 | |
| Orthofix Medical, Inc.* (Health Care Equipment & Supplies) | | 26 | | 562 | |
| OrthoPediatrics Corp.* (Health Care Equipment & Supplies) | | 11 | | 518 | |
| Oscar Health, Inc.* - Class A (Insurance) | | 91 | | 349 | |
| OSI Systems, Inc.* (Electronic Equipment, Instruments & Components) | | 12 | | 1,137 | |
| Otter Tail Corp. (Electric Utilities) | | 31 | | 1,989 | |
| Ouster, Inc.* (Electronic Equipment, Instruments & Components) | | 109 | | 156 | |
| Outbrain, Inc.* (Interactive Media & Services) | | 27 | | 133 | |
| Outfront Media, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 110 | | 2,189 | |
| Outlook Therapeutics, Inc.* (Biotechnology) | | 89 | | 102 | |
| Outset Medical, Inc.* (Health Care Equipment & Supplies) | | 36 | | 1,012 | |
| Overstock.com, Inc.* (Internet & Direct Marketing Retail) | | 32 | | 775 | |
| Owens & Minor, Inc.* (Health Care Providers & Services) | | 56 | | 1,105 | |
| Owlet, Inc.* (Health Care Equipment & Supplies) | | 12 | | 5 | |
| Oxford Industries, Inc. (Textiles, Apparel & Luxury Goods) | | 11 | | 1,289 | |
| P3 Health Partners, Inc.* (Health Care Providers & Services) | | 18 | | 23 | |
| Pacific Biosciences of California, Inc.* (Life Sciences Tools & Services) | | 170 | | 1,886 | |
| Pacific Premier Bancorp, Inc. (Banks) | | 71 | | 2,296 | |
| Pacira BioSciences, Inc.* (Pharmaceuticals) | | 34 | | 1,335 | |
| Pactiv Evergreen, Inc. (Containers & Packaging) | | 33 | | 380 | |
| PagerDuty, Inc.* (Software) | | 65 | | 1,936 | |
| Palomar Holdings, Inc.* (Insurance) | | 18 | | 920 | |
| PAM Transportation Services, Inc. (Road & Rail) | | 5 | | 145 | |
| Papa John's International, Inc. (Hotels, Restaurants & Leisure) | | 25 | | 2,242 | |
| Par Pacific Holdings, Inc.* (Oil, Gas & Consumable Fuels) | | 37 | | 989 | |
See accompanying notes to schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | Value | |
| PAR Technology Corp.* (Electronic Equipment, Instruments & Components) | | 20 | | $ | 680 | |
| Paragon 28, Inc.* (Health Care Equipment & Supplies) | | 35 | | 590 | |
| Paramount Group, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 141 | | 909 | |
| Pardes Biosciences, Inc.* (Biotechnology) | | 26 | | 54 | |
| Park Aerospace Corp. (Aerospace & Defense) | | 15 | | 209 | |
| Park National Corp. (Banks) | | 11 | | 1,378 | |
| Parke Bancorp, Inc. (Banks) | | 8 | | 166 | |
| Parsons Corp.* (Aerospace & Defense) | | 25 | | 1,088 | |
| Pathward Financial, Inc. (Banks) | | 22 | | 1,092 | |
| Patrick Industries, Inc. (Auto Components) | | 16 | | 1,136 | |
| Patterson Cos., Inc. (Health Care Providers & Services) | | 66 | | 1,993 | |
| Patterson-UTI Energy, Inc. (Energy Equipment & Services) | | 161 | | 2,705 | |
| Paya Holdings, Inc.* (IT Services) | | 66 | | 642 | |
| Payoneer Global, Inc.* (IT Services) | | 166 | | 989 | |
| Paysafe, Ltd.* (IT Services) | | 22 | | 463 | |
| PBF Energy, Inc. - Class A (Oil, Gas & Consumable Fuels) | | 74 | | 3,107 | |
| PC Connection, Inc. (Electronic Equipment, Instruments & Components) | | 8 | | 392 | |
| PCB Bancorp (Banks) | | 9 | | 167 | |
| PDF Solutions, Inc.* (Semiconductors & Semiconductor Equipment) | | 23 | | 731 | |
| Peabody Energy Corp.* (Oil, Gas & Consumable Fuels) | | 89 | | 2,482 | |
| Peapack Gladstone Financial Corp. (Banks) | | 13 | | 482 | |
| Pear Therapeutics, Inc.* (Health Care Technology) | | 52 | | 57 | |
| Pebblebrook Hotel Trust (Equity Real Estate Investment Trusts (REITs)) | | 98 | | 1,607 | |
| Pediatrix Medical Group, Inc.* (Health Care Providers & Services) | | 62 | | 952 | |
| Pennymac Financial Services, Inc. (Thrifts & Mortgage Finance) | | 20 | | 1,348 | |
| PennyMac Mortgage Investment Trust (Mortgage Real Estate Investment Trusts (REITs)) | | 67 | | 1,022 | |
| Peoples Bancorp, Inc. (Banks) | | 21 | | 623 | |
| Peoples Financial Services Corp. (Banks) | | 5 | | 255 | |
| PepGen, Inc.* (Biotechnology) | | 11 | | 172 | |
| Perdoceo Education Corp.* (Diversified Consumer Services) | | 51 | | 763 | |
| Perella Weinberg Partners (Capital Markets) | | 28 | | 287 | |
| Perficient, Inc.* (IT Services) | | 26 | | 1,928 | |
| Perimeter Solutions SA* (Chemicals) | | 88 | | 818 | |
| Permian Resources Corp. (Oil, Gas & Consumable Fuels) | | 156 | | 1,696 | |
| Petiq, Inc.* (Health Care Providers & Services) | | 20 | | 237 | |
| PetMed Express, Inc. (Internet & Direct Marketing Retail) | | 15 | | 322 | |
| PFSweb, Inc. (IT Services) | | 13 | | 87 | |
| PGT Innovations, Inc.* (Building Products) | | 43 | | 933 | |
| Phathom Pharmaceuticals, Inc.* (Pharmaceuticals) | | 18 | | 215 | |
| Phibro Animal Health Corp. - Class A (Pharmaceuticals) | | 15 | | | 231 | |
| Phillips Edison & Co., Inc. (Equity Real Estate Investment Trusts (REITs)) | | 88 | | 2,949 | |
| Photronics, Inc.* (Semiconductors & Semiconductor Equipment) | | 45 | | 815 | |
| Phreesia, Inc.* (Health Care Technology) | | 37 | | 1,387 | |
| Physicians Realty Trust (Equity Real Estate Investment Trusts (REITs)) | | 172 | | 2,728 | |
| Piedmont Lithium, Inc.* (Metals & Mining) | | 13 | | 892 | |
| Piedmont Office Realty Trust, Inc. - Class A (Equity Real Estate Investment Trusts (REITs)) | | 93 | | 986 | |
| Pioneer Bancorp, Inc.* (Thrifts & Mortgage Finance) | | 9 | | 101 | |
| Piper Sandler Cos. (Capital Markets) | | 13 | | 1,847 | |
| Pitney Bowes, Inc. (Commercial Services & Supplies) | | 130 | | 560 | |
| PJT Partners, Inc. - Class A (Capital Markets) | | 18 | | 1,441 | |
| Planet Labs PBC* (Professional Services) | | 117 | | 579 | |
| Playstudios, Inc.* (Entertainment) | | 60 | | 277 | |
| PLBY Group, Inc.* (Textiles, Apparel & Luxury Goods) | | 31 | | 91 | |
| Plexus Corp.* (Electronic Equipment, Instruments & Components) | | 21 | | 2,016 | |
| Plymouth Industrial REIT, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 28 | | 627 | |
| PMV Pharmaceuticals, Inc.* (Pharmaceuticals) | | 28 | | 230 | |
| PNM Resources, Inc. (Electric Utilities) | | 64 | | 3,167 | |
| Point Biopharma Global, Inc.* (Biotechnology) | | 64 | | 512 | |
| PolyMet Mining Corp.* (Metals & Mining) | | 22 | | 58 | |
| Porch Group, Inc.* (Internet & Direct Marketing Retail) | | 62 | | 183 | |
| Portillo's, Inc.* - Class A (Hotels, Restaurants & Leisure) | | 21 | | 474 | |
| Portland General Electric Co. (Electric Utilities) | | 67 | | 3,187 | |
| Postal Realty Trust, Inc. - Class A (Equity Real Estate Investment Trusts (REITs)) | | 13 | | 201 | |
| PotlatchDeltic Corp. (Equity Real Estate Investment Trusts (REITs)) | | 60 | | 2,937 | |
| Powell Industries, Inc. (Electrical Equipment) | | 7 | | 278 | |
| Power Integrations, Inc. (Semiconductors & Semiconductor Equipment) | | 43 | | 3,702 | |
| PowerSchool Holdings, Inc.* (Diversified Consumer Services) | | 34 | | 766 | |
| PRA Group, Inc.* (Consumer Finance) | | 29 | | 1,167 | |
| Praxis Precision Medicines, Inc.* (Biotechnology) | | 29 | | 144 | |
| Precigen, Inc.* (Biotechnology) | | 76 | | 123 | |
| Preferred Bank (Banks) | | 10 | | 711 | |
| Preformed Line Products Co. (Electrical Equipment) | | 2 | | 177 | |
| Premier Financial Corp. (Thrifts & Mortgage Finance) | | 27 | | 676 | |
| Prestige Consumer Healthcare, Inc.* (Pharmaceuticals) | | 37 | | 2,433 | |
| PriceSmart, Inc. (Food & Staples Retailing) | | 19 | | 1,412 | |
See accompanying notes to schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | Value | |
| Prime Medicine, Inc.* (Biotechnology) | | 8 | | $ | 141 | |
| Primis Financial Corp. (Banks) | | 17 | | 201 | |
| Primo Water Corp. (Beverages) | | 119 | | 1,862 | |
| Primoris Services Corp. (Construction & Engineering) | | 40 | | 1,064 | |
| Priority Technology Holdings, Inc.* (IT Services) | | 13 | | 63 | |
| Privia Health Group, Inc.* (Health Care Providers & Services) | | 34 | | 919 | |
| ProAssurance Corp. (Insurance) | | 41 | | 795 | |
| PROCEPT BioRobotics Corp.* (Health Care Equipment & Supplies) | | 20 | | 778 | |
| ProFrac Holding Corp.* - Class A (Energy Equipment & Services) | | 18 | | 405 | |
| PROG Holdings, Inc.* (Consumer Finance) | | 38 | | 847 | |
| Progress Software Corp. (Software) | | 32 | | 1,697 | |
| Progyny, Inc.* (Health Care Providers & Services) | | 57 | | 1,960 | |
| Prometheus Biosciences, Inc.* (Biotechnology) | | 26 | | 2,955 | |
| ProPetro Holding Corp.* (Energy Equipment & Services) | | 66 | | 657 | |
| PROS Holdings, Inc.* (Software) | | 31 | | 781 | |
| Protagonist Therapeutics, Inc.* (Biotechnology) | | 35 | | 465 | |
| Proterra, Inc.* (Machinery) | | 168 | | 857 | |
| Prothena Corp. PLC* (Biotechnology) | | 28 | | 1,583 | |
| Proto Labs, Inc.* (Machinery) | | 20 | | 612 | |
| Provention Bio, Inc.* (Pharmaceuticals) | | 47 | | 407 | |
| Provident BanCorp, Inc. (Thrifts & Mortgage Finance) | | 11 | | 99 | |
| Provident Financial Services, Inc. (Thrifts & Mortgage Finance) | | 55 | | 1,290 | |
| PTC Therapeutics, Inc.* (Biotechnology) | | 53 | | 2,432 | |
| PubMatic, Inc.* - Class A (Media) | | 33 | | 506 | |
| Pulmonx Corp.* (Health Care Equipment & Supplies) | | 26 | | 231 | |
| Pure Cycle Corp.* (Water Utilities) | | 15 | | 135 | |
| PureCycle Technologies, Inc.* (Chemicals) | | 80 | | 670 | |
| Purple Innovation, Inc.* (Household Durables) | | 41 | | 238 | |
| Q2 Holdings, Inc.* (Software) | | 42 | | 1,374 | |
| QCR Holdings, Inc. (Banks) | | 12 | | 631 | |
| Quad/Graphics, Inc.* (Commercial Services & Supplies) | | 24 | | 106 | |
| Quaker Chemical Corp. (Chemicals) | | 10 | | 1,969 | |
| Qualys, Inc.* (Software) | | 29 | | 3,345 | |
| Quanex Building Products Corp. (Building Products) | | 25 | | 647 | |
| Quanterix Corp.* (Life Sciences Tools & Services) | | 26 | | 367 | |
| Quantum-Si, Inc.* (Life Sciences Tools & Services) | | 69 | | 153 | |
| QuinStreet, Inc.* (Interactive Media & Services) | | 38 | | 583 | |
| Quotient Technology, Inc.* (Internet & Direct Marketing Retail) | | 68 | | 275 | |
| Qurate Retail, Inc.* - Class A (Internet & Direct Marketing Retail) | | 264 | | 681 | |
| R1 RCM, Inc.* (Health Care Providers & Services) | | 113 | | | 1,617 | |
| Rackspace Technology, Inc.* (IT Services) | | 43 | | 129 | |
| Radian Group, Inc. (Thrifts & Mortgage Finance) | | 119 | | 2,631 | |
| Radiant Logistics, Inc.* (Air Freight & Logistics) | | 28 | | 157 | |
| Radius Global Infrastructure, Inc.* - Class A (Diversified Telecommunication Services) | | 58 | | 781 | |
| RadNet, Inc.* (Health Care Providers & Services) | | 38 | | 800 | |
| Rallybio Corp.* (Biotechnology) | | 14 | | 97 | |
| Ramaco Resources, Inc. (Metals & Mining) | | 17 | | 177 | |
| Rambus, Inc.* (Semiconductors & Semiconductor Equipment) | | 80 | | 3,238 | |
| Ranger Oil Corp. (Oil, Gas & Consumable Fuels) | | 14 | | 588 | |
| Ranpak Holdings Corp.* (Containers & Packaging) | | 33 | | 253 | |
| Rapid7, Inc.* (Software) | | 44 | | 1,754 | |
| RAPT Therapeutics, Inc.* (Biotechnology) | | 20 | | 581 | |
| Rayonier Advanced Materials, Inc.* (Chemicals) | | 46 | | 319 | |
| RBB Bancorp (Banks) | | 11 | | 222 | |
| RBC Bearings, Inc.* (Machinery) | | 21 | | 5,124 | |
| RCI Hospitality Holdings, Inc. (Hotels, Restaurants & Leisure) | | 6 | | 545 | |
| RE/MAX Holdings, Inc. (Real Estate Management & Development) | | 13 | | 297 | |
| Ready Capital Corp. (Mortgage Real Estate Investment Trusts (REITs)) | | 55 | | 728 | |
| Realogy Holdings Corp.* (Real Estate Management & Development) | | 81 | | 687 | |
| Reata Pharmaceuticals, Inc.* - Class A (Pharmaceuticals) | | 21 | | 910 | |
| Recursion Pharmaceuticals, Inc.* - Class A (Biotechnology) | | 103 | | 858 | |
| Red River Bancshares, Inc. (Banks) | | 3 | | 153 | |
| Red Rock Resorts, Inc. - Class A (Hotels, Restaurants & Leisure) | | 38 | | 1,710 | |
| Red Violet, Inc.* (Professional Services) | | 7 | | 166 | |
| Redfin Corp.* (Real Estate Management & Development) | | 80 | | 598 | |
| Redwire Corp.*(a) (Aerospace & Defense) | | 15 | | 38 | |
| Redwood Trust, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | 85 | | 711 | |
| REGENXBIO, Inc.* (Biotechnology) | | 30 | | 696 | |
| Regional Management Corp. (Consumer Finance) | | 6 | | 207 | |
| Relay Therapeutics, Inc.* (Biotechnology) | | 64 | | 1,373 | |
| Relmada Therapeutics, Inc.* (Pharmaceuticals) | | 21 | | 85 | |
| Remitly Global, Inc.* (IT Services) | | 75 | | 905 | |
| Renasant Corp. (Banks) | | 41 | | 1,459 | |
| Rent the Runway, Inc.* - Class A (Internet & Direct Marketing Retail) | | 36 | | 154 | |
| Rent-A-Center, Inc. (Specialty Retail) | | 38 | | 1,022 | |
| Repay Holdings Corp.* (IT Services) | | 66 | | 643 | |
| Replimune Group, Inc.* (Biotechnology) | | 31 | | 863 | |
| Republic Bancorp, Inc. - Class A (Banks) | | 7 | | 315 | |
See accompanying notes to schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | Value | |
| Republic First Bancorp, Inc.* (Banks) | | 42 | | $ | 92 | |
| Reservoir Media, Inc.* (Entertainment) | | 15 | | 106 | |
| Resideo Technologies, Inc.* (Building Products) | | 109 | | 2,096 | |
| Resolute Forest Products, Inc.* (Paper & Forest Products) | | 35 | | 760 | |
| Resources Connection, Inc. (Professional Services) | | 24 | | 414 | |
| Retail Opportunity Investments Corp. (Equity Real Estate Investment Trusts (REITs)) | | 91 | | 1,441 | |
| REV Group, Inc. (Machinery) | | 25 | | 320 | |
| Revance Therapeutics, Inc.* (Pharmaceuticals) | | 61 | | 2,115 | |
| REVOLUTION Medicines, Inc.* (Biotechnology) | | 57 | | 1,524 | |
| Revolve Group, Inc.* (Internet & Direct Marketing Retail) | | 31 | | 885 | |
| REX American Resources Corp.* (Oil, Gas & Consumable Fuels) | | 12 | | 393 | |
| Ribbon Communications, Inc.* (Communications Equipment) | | 54 | | 190 | |
| Rigel Pharmaceuticals, Inc.* (Biotechnology) | | 130 | | 213 | |
| Rigetti Computing, Inc.* (Semiconductors & Semiconductor Equipment) | | 59 | | 46 | |
| Riley Exploration Permian, Inc. (Oil, Gas & Consumable Fuels) | | 8 | | 266 | |
| Rimini Street, Inc.* (Software) | | 37 | | 167 | |
| Ring Energy, Inc.* (Oil, Gas & Consumable Fuels) | | 71 | | 168 | |
| Riot Platforms, Inc.*(a) (Software) | | 119 | | 746 | |
| Rite Aid Corp.* (Food & Staples Retailing) | | 42 | | 153 | |
| RLI Corp. (Insurance) | | 29 | | 3,841 | |
| RLJ Lodging Trust (Equity Real Estate Investment Trusts (REITs)) | | 121 | | 1,521 | |
| Rocket Lab USA, Inc.* (Aerospace & Defense) | | 162 | | 805 | |
| Rocket Pharmaceuticals, Inc.* (Biotechnology) | | 40 | | 869 | |
| Rocky Brands, Inc. (Textiles, Apparel & Luxury Goods) | | 5 | | 157 | |
| Rogers Corp.* (Electronic Equipment, Instruments & Components) | | 14 | | 1,954 | |
| Root, Inc.* - Class A (Insurance) | | 6 | | 35 | |
| Rover Group, Inc.* (Diversified Consumer Services) | | 71 | | 290 | |
| RPC, Inc. (Energy Equipment & Services) | | 56 | | 556 | |
| RPT Realty (Equity Real Estate Investment Trusts (REITs)) | | 64 | | 671 | |
| RumbleON, Inc.* - Class B (Internet & Direct Marketing Retail) | | 8 | | 67 | |
| Rush Enterprises, Inc. - Class A (Trading Companies & Distributors) | | 31 | | 1,668 | |
| Rush Enterprises, Inc. - Class B (Trading Companies & Distributors) | | 5 | | 291 | |
| Rush Street Interactive, Inc.* (Hotels, Restaurants & Leisure) | | 46 | | 197 | |
| Ruth's Hospitality Group, Inc. (Hotels, Restaurants & Leisure) | | 24 | | 415 | |
| RxSight, Inc.* (Health Care Equipment & Supplies) | | 15 | | 210 | |
| Ryerson Holding Corp. (Metals & Mining) | | 15 | | 573 | |
| Ryman Hospitality Properties, Inc. - Class I (Equity Real Estate Investment Trusts (REITs)) | | 41 | | | 3,807 | |
| S&T Bancorp, Inc. (Banks) | | 29 | | 1,055 | |
| Sabra Health Care REIT, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 174 | | 2,349 | |
| Sabre Corp.* (IT Services) | | 245 | | 1,668 | |
| Safe Bulkers, Inc. (Marine) | | 54 | | 178 | |
| Safehold, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 20 | | 699 | |
| Safety Insurance Group, Inc. (Insurance) | | 11 | | 928 | |
| Sage Therapeutics, Inc.* (Biotechnology) | | 39 | | 1,729 | |
| Saia, Inc.* (Road & Rail) | | 20 | | 5,455 | |
| Sally Beauty Holdings, Inc.* (Specialty Retail) | | 81 | | 1,262 | |
| Sana Biotechnology, Inc.* (Biotechnology) | | 67 | | 306 | |
| SandRidge Energy, Inc.* (Oil, Gas & Consumable Fuels) | | 24 | | 379 | |
| Sandy Spring Bancorp, Inc. (Banks) | | 33 | | 1,115 | |
| Sangamo Therapeutics, Inc.* (Biotechnology) | | 101 | | 352 | |
| Sanmina Corp.* (Electronic Equipment, Instruments & Components) | | 43 | | 2,620 | |
| Sapiens International Corp. N.V. (Software) | | 24 | | 544 | |
| Sarcos Technology and Robotics Corp.* (Machinery) | | 82 | | 49 | |
| Saul Centers, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 9 | | 385 | |
| ScanSource, Inc.* (Electronic Equipment, Instruments & Components) | | 19 | | 626 | |
| Schnitzer Steel Industries, Inc. - Class A (Metals & Mining) | | 19 | | 643 | |
| Scholastic Corp. (Media) | | 22 | | 973 | |
| Schrodinger, Inc.* (Health Care Technology) | | 41 | | 991 | |
| Science 37 Holdings, Inc.* (Life Sciences Tools & Services) | | 47 | | 25 | |
| Scilex Holding Co.* (Pharmaceuticals) | | 49 | | 386 | |
| Scorpio Tankers, Inc. (Oil, Gas & Consumable Fuels) | | 35 | | 1,675 | |
| Sculptor Capital Management, Inc. (Capital Markets) | | 19 | | 177 | |
| Seacoast Banking Corp. of Florida (Banks) | | 55 | | 1,766 | |
| SeaWorld Entertainment, Inc.* (Hotels, Restaurants & Leisure) | | 30 | | 1,872 | |
| SecureWorks Corp.* - Class A (Software) | | 8 | | 64 | |
| Seer, Inc.* (Life Sciences Tools & Services) | | 39 | | 177 | |
| Select Energy Services, Inc. (Energy Equipment & Services) | | 54 | | 474 | |
| Select Medical Holdings Corp. (Health Care Providers & Services) | | 78 | | 2,267 | |
| Selective Insurance Group, Inc. (Insurance) | | 45 | | 4,275 | |
| Selectquote, Inc.* (Insurance) | | 102 | | 88 | |
| Semtech Corp.* (Semiconductors & Semiconductor Equipment) | | 48 | | 1,585 | |
| Seneca Foods Corp.* - Class A (Food Products) | | 4 | | 250 | |
| Senseonics Holdings, Inc.* (Health Care Equipment & Supplies) | | 356 | | 402 | |
| Sensient Technologies Corp. (Chemicals) | | 32 | | 2,422 | |
See accompanying notes to schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | Value | |
| Seres Therapeutics, Inc.* (Biotechnology) | | 53 | | $ | 290 | |
| Service Properties Trust (Equity Real Estate Investment Trusts (REITs)) | | 124 | | 1,105 | |
| ServisFirst Bancshares, Inc. (Banks) | | 38 | | 2,590 | |
| SFL Corp., Ltd. (Oil, Gas & Consumable Fuels) | | 86 | | 875 | |
| Shake Shack, Inc.* - Class A (Hotels, Restaurants & Leisure) | | 28 | | 1,593 | |
| Sharecare, Inc.* (Health Care Technology) | | 224 | | 569 | |
| Shenandoah Telecommunications Co. (Wireless Telecommunication Services) | | 36 | | 704 | |
| Shoals Technologies Group, Inc.* - Class A (Electrical Equipment) | | 104 | | 2,901 | |
| Shockwave Medical, Inc.* (Health Care Equipment & Supplies) | | 27 | | 5,074 | |
| Shoe Carnival, Inc. (Specialty Retail) | | 13 | | 355 | |
| Shore Bancshares, Inc. (Banks) | | 13 | | 227 | |
| ShotSpotter, Inc.* (Software) | | 7 | | 270 | |
| Shutterstock, Inc. (Internet & Direct Marketing Retail) | | 18 | | 1,355 | |
| SI-BONE, Inc.* (Health Care Equipment & Supplies) | | 26 | | 443 | |
| Sierra Bancorp (Banks) | | 10 | | 211 | |
| SIGA Technologies, Inc. (Pharmaceuticals) | | 35 | | 257 | |
| Sight Sciences, Inc.* (Health Care Equipment & Supplies) | | 16 | | 184 | |
| Signet Jewelers, Ltd. (Specialty Retail) | | 34 | | 2,611 | |
| Silicon Laboratories, Inc.* (Semiconductors & Semiconductor Equipment) | | 25 | | 3,922 | |
| Silk Road Medical, Inc.* (Health Care Equipment & Supplies) | | 28 | | 1,522 | |
| SilverBow Resources, Inc.* (Oil, Gas & Consumable Fuels) | | 9 | | 236 | |
| Silvercrest Asset Management Group, Inc. - Class A (Capital Markets) | | 7 | | 132 | |
| Silvergate Capital Corp.* - Class A (Banks) | | 24 | | 342 | |
| Simmons First National Corp. - Class A (Banks) | | 92 | | 2,053 | |
| Simpson Manufacturing Co., Inc. (Building Products) | | 32 | | 3,428 | |
| Simulations Plus, Inc. (Health Care Technology) | | 12 | | 494 | |
| Sinclair Broadcast Group, Inc. - Class A (Media) | | 30 | | 619 | |
| Singular Genomics Systems, Inc.* (Life Sciences Tools & Services) | | 42 | | 112 | |
| SiriusPoint, Ltd.* (Insurance) | | 69 | | 524 | |
| SITE Centers Corp. (Equity Real Estate Investment Trusts (REITs)) | | 147 | | 2,007 | |
| SiTime Corp.* (Semiconductors & Semiconductor Equipment) | | 12 | | 1,383 | |
| Sitio Royalties Corp. - Class A (Oil, Gas & Consumable Fuels) | | 54 | | 1,435 | |
| SJW Group (Water Utilities) | | 20 | | 1,548 | |
| Skillsoft Corp.* (Professional Services) | | 61 | | 117 | |
| Skillz, Inc.* (Entertainment) | | 237 | | 189 | |
| Skyline Champion Corp.* (Household Durables) | | 40 | | 2,358 | |
| SkyWater Technology, Inc.* (Semiconductors & Semiconductor Equipment) | | 8 | | 87 | |
| SkyWest, Inc.* (Airlines) | | 38 | | | 789 | |
| Sleep Number Corp.* (Specialty Retail) | | 16 | | 550 | |
| SM Energy Co. (Oil, Gas & Consumable Fuels) | | 91 | | 2,991 | |
| SMART Global Holdings, Inc.* (Semiconductors & Semiconductor Equipment) | | 36 | | 619 | |
| SmartFinancial, Inc. (Banks) | | 12 | | 324 | |
| SmartRent, Inc.* (Electronic Equipment, Instruments & Components) | | 91 | | 266 | |
| Smith & Wesson Brands, Inc. (Leisure Products) | | 34 | | 377 | |
| Snap One Holdings Corp.* (Household Durables) | | 14 | | 134 | |
| Solaris Oilfield Infrastructure, Inc. (Energy Equipment & Services) | | 24 | | 254 | |
| SolarWinds Corp.* (IT Services) | | 36 | | 366 | |
| Solid Power, Inc.* (Auto Components) | | 100 | | 335 | |
| Solo Brands, Inc.* - Class A (Leisure Products) | | 17 | | 75 | |
| SomaLogic, Inc.* (Life Sciences Tools & Services) | | 113 | | 393 | |
| Sonder Holdings, Inc.* (Hotels, Restaurants & Leisure) | | 143 | | 192 | |
| Sonic Automotive, Inc. - Class A (Specialty Retail) | | 14 | | 752 | |
| Sonos, Inc.* (Household Durables) | | 96 | | 1,770 | |
| Sorrento Therapeutics, Inc.* (Biotechnology) | | 347 | | 333 | |
| South Plains Financial, Inc. (Banks) | | 7 | | 197 | |
| Southern First Bancshares, Inc.* (Banks) | | 6 | | 253 | |
| Southern Missouri Bancorp, Inc. (Thrifts & Mortgage Finance) | | 6 | | 291 | |
| Southside Bancshares, Inc. (Banks) | | 23 | | 871 | |
| SouthState Corp. (Banks) | | 56 | | 4,457 | |
| Southwest Gas Holdings, Inc. (Gas Utilities) | | 50 | | 3,347 | |
| Sovos Brands, Inc.* (Food Products) | | 29 | | 393 | |
| SP Plus Corp.* (Commercial Services & Supplies) | | 15 | | 566 | |
| SpartanNash Co. (Food & Staples Retailing) | | 26 | | 824 | |
| Spire Global, Inc.* (Technology Hardware, Storage & Peripherals) | | 94 | | 112 | |
| Spire, Inc. (Gas Utilities) | | 38 | | 2,744 | |
| Spirit Airlines, Inc. (Airlines) | | 82 | | 1,627 | |
| Sportsman's Warehouse Holdings, Inc.* (Specialty Retail) | | 29 | | 273 | |
| SpringWorks Therapeutics, Inc.* (Biotechnology) | | 27 | | 848 | |
| Sprout Social, Inc.* - Class A (Software) | | 35 | | 2,239 | |
| Sprouts Farmers Market, Inc.* (Food & Staples Retailing) | | 80 | | 2,555 | |
| SPS Commerce, Inc.* (Software) | | 27 | | 3,673 | |
| SPX Technologies, Inc.* (Machinery) | | 33 | | 2,475 | |
| Squarespace, Inc.* - Class A (IT Services) | | 23 | | 546 | |
| STAAR Surgical Co.* (Health Care Equipment & Supplies) | | 36 | | 2,540 | |
| STAG Industrial, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 136 | | 4,841 | |
See accompanying notes to schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | Value | |
| Stagwell, Inc.* (Media) | | 58 | | $ | 407 | |
| Standard Motor Products, Inc. (Auto Components) | | 15 | | 607 | |
| Standex International Corp. (Machinery) | | 9 | | 1,040 | |
| Steelcase, Inc. - Class A (Commercial Services & Supplies) | | 66 | | 515 | |
| Stellar Bancorp, Inc. (Banks) | | 34 | | 956 | |
| Stem, Inc.* (Electrical Equipment) | | 108 | | 1,065 | |
| Stepan Co. (Chemicals) | | 16 | | 1,757 | |
| StepStone Group, Inc. - Class A (Capital Markets) | | 41 | | 1,197 | |
| Sterling Bancorp, Inc.* (Thrifts & Mortgage Finance) | | 13 | | 79 | |
| Sterling Check Corp.* (Professional Services) | | 18 | | 251 | |
| Sterling Construction Co., Inc.* (Construction & Engineering) | | 22 | | 801 | |
| Steven Madden, Ltd. (Textiles, Apparel & Luxury Goods) | | 58 | | 2,080 | |
| Stewart Information Services Corp. (Insurance) | | 20 | | 955 | |
| Stitch Fix, Inc.* - Class A (Internet & Direct Marketing Retail) | | 63 | | 328 | |
| Stock Yards Bancorp, Inc. (Banks) | | 22 | | 1,319 | |
| Stoke Therapeutics, Inc.* (Biotechnology) | | 17 | | 169 | |
| StoneCo, Ltd.* - Class A (IT Services) | | 209 | | 2,331 | |
| Stoneridge, Inc.* (Auto Components) | | 20 | | 493 | |
| StoneX Group, Inc.* (Capital Markets) | | 13 | | 1,142 | |
| Strategic Education, Inc. (Diversified Consumer Services) | | 17 | | 1,587 | |
| Stratus Properties, Inc. (Real Estate Management & Development) | | 4 | | 88 | |
| Stride, Inc.* (Diversified Consumer Services) | | 31 | | 1,331 | |
| Sturm Ruger & Co., Inc. (Leisure Products) | | 13 | | 740 | |
| Summit Financial Group, Inc. (Banks) | | 8 | | 208 | |
| Summit Hotel Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 79 | | 673 | |
| Summit Materials, Inc.* - Class A (Construction Materials) | | 90 | | 2,957 | |
| Sumo Logic, Inc.* (Software) | | 87 | | 1,029 | |
| Sun Country Airlines Holdings, Inc.* (Airlines) | | 25 | | 467 | |
| SunCoke Energy, Inc. (Metals & Mining) | | 63 | | 574 | |
| Sunlight Financial Holdings, Inc.* (Consumer Finance) | | 18 | | 23 | |
| Sunnova Energy International, Inc.* (Independent Power and Renewable Electricity Producers) | | 75 | | 1,461 | |
| SunOpta, Inc.* (Food Products) | | 74 | | 605 | |
| SunPower Corp.* (Semiconductors & Semiconductor Equipment) | | 62 | | 1,081 | |
| Sunstone Hotel Investors, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 160 | | 1,758 | |
| Super Micro Computer, Inc.* (Technology Hardware, Storage & Peripherals) | | 35 | | 2,532 | |
| Superior Group of Cos., Inc. (Textiles, Apparel & Luxury Goods) | | 9 | | 107 | |
| Supernus Pharmaceuticals, Inc.* (Pharmaceuticals) | | 37 | | 1,517 | |
| Surgery Partners, Inc.* (Health Care Providers & Services) | | 38 | | 1,262 | |
| Surmodics, Inc.* (Health Care Equipment & Supplies) | | 10 | | | 281 | |
| Sutro BioPharma, Inc.* (Biotechnology) | | 41 | | 297 | |
| Sweetgreen, Inc.* - Class A (Hotels, Restaurants & Leisure) | | 67 | | 695 | |
| SWK Holdings Corp.* (Diversified Financial Services) | | 3 | | 57 | |
| Sylvamo Corp. (Paper & Forest Products) | | 27 | | 1,283 | |
| Synaptics, Inc.* (Semiconductors & Semiconductor Equipment) | | 30 | | 3,750 | |
| Syndax Pharmaceuticals, Inc.* (Biotechnology) | | 40 | | 1,148 | |
| Tactile Systems Technology, Inc.* (Health Care Equipment & Supplies) | | 15 | | 195 | |
| Talaris Therapeutics, Inc.* (Biotechnology) | | 17 | | 25 | |
| Talos Energy, Inc.* (Oil, Gas & Consumable Fuels) | | 50 | | 991 | |
| Tanger Factory Outlet Centers, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 76 | | 1,452 | |
| Tango Therapeutics, Inc.* (Biotechnology) | | 35 | | 231 | |
| Target Hospitality Corp.* (Hotels, Restaurants & Leisure) | | 22 | | 338 | |
| Tarsus Pharmaceuticals, Inc.* (Pharmaceuticals) | | 14 | | 221 | |
| Tattooed Chef, Inc.* (Food Products) | | 37 | | 56 | |
| Taylor Morrison Home Corp.* (Household Durables) | | 79 | | 2,827 | |
| TechTarget, Inc.* (Media) | | 20 | | 991 | |
| Teekay Corp.* (Oil, Gas & Consumable Fuels) | | 52 | | 253 | |
| Teekay Tankers, Ltd.* - Class A (Oil, Gas & Consumable Fuels) | | 17 | | 522 | |
| TEGNA, Inc. (Media) | | 168 | | 3,347 | |
| Tejon Ranch Co.* (Real Estate Management & Development) | | 16 | | 320 | |
| Telephone and Data Systems, Inc. (Wireless Telecommunication Services) | | 76 | | 1,016 | |
| Tellurian, Inc.* (Oil, Gas & Consumable Fuels) | | 384 | | 764 | |
| Telos Corp.* (Software) | | 41 | | 199 | |
| Tenable Holdings, Inc.* (Software) | | 84 | | 3,378 | |
| Tenaya Therapeutics, Inc.* (Biotechnology) | | 21 | | 72 | |
| Tennant Co. (Machinery) | | 14 | | 982 | |
| Tenon Medical, Inc.* (Health Care Equipment & Supplies) | | 6 | | 14 | |
| Terawulf, Inc.* (Software) | | 16 | | 16 | |
| Terex Corp. (Machinery) | | 50 | | 2,549 | |
| Terran Orbital Corp.* (Aerospace & Defense) | | 31 | | 60 | |
| Terreno Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | 56 | | 3,607 | |
| TETRA Technologies, Inc.* (Energy Equipment & Services) | | 94 | | 372 | |
| Texas Capital Bancshares, Inc.* (Banks) | | 38 | | 2,510 | |
| Texas Roadhouse, Inc. (Hotels, Restaurants & Leisure) | | 50 | | 5,022 | |
| Textainer Group Holdings, Ltd. (Trading Companies & Distributors) | | 33 | | 1,119 | |
| TG Therapeutics, Inc.* (Biotechnology) | | 100 | | 1,523 | |
See accompanying notes to schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | Value | |
| The Andersons, Inc. (Food & Staples Retailing) | | 24 | | $ | 883 | |
| The Arena Group Holdings, Inc.* (Interactive Media & Services) | | 9 | | 80 | |
| The Bancorp, Inc.* (Banks) | | 41 | | 1,391 | |
| The Bank of NT Butterfield & Son, Ltd. (Banks) | | 37 | | 1,183 | |
| The Beachbody Co., Inc.* (Diversified Consumer Services) | | 79 | | 49 | |
| The Beauty Health Co.* (Personal Products) | | 71 | | 809 | |
| The Brink's Co. (Commercial Services & Supplies) | | 34 | | 2,230 | |
| The Buckle, Inc. (Specialty Retail) | | 23 | | 1,012 | |
| The Cato Corp. - Class A (Specialty Retail) | | 14 | | 139 | |
| The Cheesecake Factory, Inc.(a) (Hotels, Restaurants & Leisure) | | 36 | | 1,413 | |
| The Chefs' Warehouse, Inc.* (Food & Staples Retailing) | | 26 | | 994 | |
| The Children's Place, Inc.* (Specialty Retail) | | 10 | | 454 | |
| The Container Store Group, Inc.* (Specialty Retail) | | 24 | | 125 | |
| The Duckhorn Portfolio, Inc.* (Beverages) | | 32 | | 518 | |
| The E.W. Scripps Co.* - Class A (Media) | | 44 | | 658 | |
| The Ensign Group, Inc. (Health Care Providers & Services) | | 41 | | 3,824 | |
| The First Bancorp, Inc. (Banks) | | 7 | | 208 | |
| The First Bancshares, Inc. (Banks) | | 16 | | 490 | |
| The First of Long Island Corp. (Banks) | | 17 | | 300 | |
| The GEO Group, Inc.* (Equity Real Estate Investment Trusts (REITs)) | | 89 | | 1,024 | |
| The Goodyear Tire & Rubber Co.* (Auto Components) | | 211 | | 2,374 | |
| The Gorman-Rupp Co. (Machinery) | | 17 | | 488 | |
| The Greenbrier Cos., Inc. (Machinery) | | 24 | | 742 | |
| The Hackett Group, Inc. (IT Services) | | 20 | | 442 | |
| The Hain Celestial Group, Inc.* (Food Products) | | 67 | | 1,375 | |
| The Honest Co., Inc.* (Personal Products) | | 50 | | 165 | |
| The Joint Corp.* (Health Care Providers & Services) | | 11 | | 200 | |
| The Lovesac Co.* (Household Durables) | | 10 | | 257 | |
| The Macerich Co. (Equity Real Estate Investment Trusts (REITs)) | | 162 | | 2,226 | |
| The Manitowoc Co., Inc.* (Machinery) | | 26 | | 356 | |
| The Marcus Corp. (Entertainment) | | 18 | | 273 | |
| The Necessity Retail REIT, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 101 | | 690 | |
| The ODP Corp.* (Specialty Retail) | | 30 | | 1,548 | |
| The Oncology Institute, Inc.* (Health Care Providers & Services) | | 26 | | 38 | |
| The ONE Group Hospitality, Inc.* (Hotels, Restaurants & Leisure) | | 17 | | 128 | |
| The Pennant Group, Inc.* (Health Care Providers & Services) | | 19 | | 246 | |
| The RealReal, Inc.* (Internet & Direct Marketing Retail) | | 67 | | 123 | |
| The RMR Group, Inc. - Class A (Real Estate Management & Development) | | 12 | | 372 | |
| The Shyft Group, Inc. (Machinery) | | 26 | | 866 | |
| The Simply Good Foods Co.* (Food Products) | | 67 | | | 2,432 | |
| The St Joe Co. (Real Estate Management & Development) | | 26 | | 1,225 | |
| The Vita Coco Co., Inc.*(a) (Beverages) | | 21 | | 285 | |
| The York Water Co. (Water Utilities) | | 11 | | 500 | |
| Theravance Biopharma, Inc.*(a) (Pharmaceuticals) | | 49 | | 530 | |
| Thermon Group Holdings, Inc.* (Electrical Equipment) | | 25 | | 578 | |
| Theseus Pharmaceuticals, Inc.* (Pharmaceuticals) | | 13 | | 182 | |
| Third Coast Bancshares, Inc.* (Banks) | | 10 | | 185 | |
| Third Harmonic Bio, Inc.* (Pharmaceuticals) | | 10 | | 44 | |
| Thorne HealthTech, Inc.* (Personal Products) | | 10 | | 46 | |
| ThredUp, Inc.* - Class A (Internet & Direct Marketing Retail) | | 44 | | 76 | |
| Thryv Holdings, Inc.* (Media) | | 19 | | 425 | |
| Tidewater, Inc.* (Energy Equipment & Services) | | 35 | | 1,519 | |
| Tile Shop Holdings, Inc.* (Specialty Retail) | | 23 | | 115 | |
| Tilly's, Inc.* - Class A (Specialty Retail) | | 17 | | 151 | |
| TimkenSteel Corp.* (Metals & Mining) | | 33 | | 649 | |
| Tiptree, Inc. (Insurance) | | 19 | | 285 | |
| Titan International, Inc.* (Machinery) | | 39 | | 651 | |
| Titan Machinery, Inc.* (Trading Companies & Distributors) | | 15 | | 659 | |
| Tompkins Financial Corp. (Banks) | | 10 | | 753 | |
| Tootsie Roll Industries, Inc. (Food Products) | | 12 | | 537 | |
| Topgolf Callaway Brands Corp.* (Leisure Products) | | 105 | | 2,571 | |
| Torrid Holdings, Inc.* (Specialty Retail) | | 11 | | 41 | |
| TowneBank (Banks) | | 51 | | 1,554 | |
| TPG RE Finance Trust, Inc. - Class T (Mortgage Real Estate Investment Trusts (REITs)) | | 52 | | 453 | |
| TPI Composites, Inc.* (Electrical Equipment) | | 28 | | 365 | |
| Traeger, Inc.* (Household Durables) | | 25 | | 91 | |
| Transcat, Inc.* (Trading Companies & Distributors) | | 5 | | 418 | |
| Transcontinental Realty Investors, Inc.* (Real Estate Management & Development) | | 1 | | 46 | |
| TransMedics Group, Inc.* (Health Care Equipment & Supplies) | | 23 | | 1,449 | |
| Transphorm, Inc.* (Semiconductors & Semiconductor Equipment) | | 17 | | 79 | |
| TravelCenters of America, Inc.* (Specialty Retail) | | 10 | | 455 | |
| Travere Therapeutics, Inc.* (Biotechnology) | | 46 | | 1,030 | |
| Treace Medical Concepts, Inc.* (Health Care Equipment & Supplies) | | 25 | | 577 | |
| Trean Insurance Group, Inc.* (Insurance) | | 17 | | 104 | |
| Tredegar Corp. (Chemicals) | | 20 | | 243 | |
| TreeHouse Foods, Inc.* (Food Products) | | 38 | | 1,840 | |
| Tri Pointe Homes, Inc.* (Household Durables) | | 76 | | 1,679 | |
| TriCo Bancshares (Banks) | | 23 | | 1,163 | |
| TriMas Corp. (Containers & Packaging) | | 32 | | 985 | |
See accompanying notes to schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | Value | |
| TriNet Group, Inc.* (Professional Services) | | 28 | | $ | 2,113 | |
| Trinity Industries, Inc. (Machinery) | | 62 | | 1,784 | |
| Trinseo PLC (Chemicals) | | 26 | | 722 | |
| Triton International, Ltd. (Trading Companies & Distributors) | | 44 | | 3,109 | |
| Triumph Financial, Inc.* (Banks) | | 18 | | 1,003 | |
| Triumph Group, Inc.* (Aerospace & Defense) | | 48 | | 547 | |
| Tronox Holdings PLC - Class A (Chemicals) | | 88 | | 1,509 | |
| TrueBlue, Inc.* (Professional Services) | | 24 | | 471 | |
| TrueCar, Inc.* (Interactive Media & Services) | | 66 | | 206 | |
| Trupanion, Inc.* (Insurance) | | 29 | | 1,712 | |
| TrustCo Bank Corp. (Thrifts & Mortgage Finance) | | 14 | | 503 | |
| Trustmark Corp. (Banks) | | 46 | | 1,340 | |
| TTEC Holdings, Inc. (IT Services) | | 14 | | 712 | |
| TTM Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | 76 | | 1,195 | |
| Tucows, Inc.* (IT Services) | | 7 | | 232 | |
| Tupperware Brands Corp.* (Household Durables) | | 33 | | 146 | |
| Turning Point Brands, Inc. (Tobacco) | | 11 | | 255 | |
| Turtle Beach Corp.* (Technology Hardware, Storage & Peripherals) | | 12 | | 114 | |
| TuSimple Holdings, Inc.* - Class A (Road & Rail) | | 105 | | 221 | |
| Tutor Perini Corp.* (Construction & Engineering) | | 32 | | 293 | |
| Twist Bioscience Corp.* (Biotechnology) | | 42 | | 1,205 | |
| Two Harbors Investment Corp. (Mortgage Real Estate Investment Trusts (REITs)) | | 65 | | 1,166 | |
| Tyra Biosciences, Inc.* (Biotechnology) | | 10 | | 106 | |
| U.S. Cellular Corp.* (Wireless Telecommunication Services) | | 11 | | 269 | |
| U.S. Lime & Minerals, Inc. (Construction Materials) | | 2 | | 304 | |
| U.S. Physical Therapy, Inc. (Health Care Providers & Services) | | 10 | | 992 | |
| U.S. Silica Holdings, Inc.* (Energy Equipment & Services) | | 56 | | 685 | |
| Udemy, Inc.* (Diversified Consumer Services) | | 55 | | 690 | |
| UFP Industries, Inc. (Building Products) | | 45 | | 4,209 | |
| UFP Technologies, Inc.* (Health Care Equipment & Supplies) | | 5 | | 569 | |
| Ultra Clean Holdings, Inc.* (Semiconductors & Semiconductor Equipment) | | 34 | | 1,144 | |
| UMB Financial Corp. (Banks) | | 33 | | 2,975 | |
| UMH Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 38 | | 681 | |
| Unifi, Inc.* (Textiles, Apparel & Luxury Goods) | | 11 | | 94 | |
| UniFirst Corp. (Commercial Services & Supplies) | | 11 | | 2,183 | |
| Unisys Corp.* (IT Services) | | 50 | | 271 | |
| United Bankshares, Inc. (Banks) | | 98 | | 3,939 | |
| United Community Banks, Inc. (Banks) | | 80 | | 2,602 | |
| United Fire Group, Inc. (Insurance) | | 16 | | 504 | |
| United Natural Foods, Inc.* (Food & Staples Retailing) | | 44 | | | 1,831 | |
| Uniti Group, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 179 | | 1,180 | |
| Unitil Corp. (Multi-Utilities) | | 12 | | 626 | |
| Unity Bancorp, Inc. (Banks) | | 5 | | 132 | |
| Universal Corp. (Tobacco) | | 18 | | 979 | |
| Universal Electronics, Inc.* (Household Durables) | | 9 | | 211 | |
| Universal Health Realty Income Trust (Equity Real Estate Investment Trusts (REITs)) | | 10 | | 548 | |
| Universal Insurance Holdings, Inc. (Insurance) | | 19 | | 242 | |
| Universal Logistics Holdings, Inc. (Road & Rail) | | 5 | | 180 | |
| Universal Technical Institute, Inc.* (Diversified Consumer Services) | | 25 | | 190 | |
| Univest Financial Corp. (Banks) | | 22 | | 597 | |
| Upland Software, Inc.* (Software) | | 22 | | 192 | |
| Upwork, Inc.* (Professional Services) | | 91 | | 1,179 | |
| Uranium Energy Corp.* (Oil, Gas & Consumable Fuels) | | 266 | | 1,072 | |
| Urban Edge Properties (Equity Real Estate Investment Trusts (REITs)) | | 86 | | 1,355 | |
| Urban One, Inc.* (Media) | | 8 | | 40 | |
| Urban One, Inc.* (Media) | | 6 | | 42 | |
| Urban Outfitters, Inc.* (Specialty Retail) | | 48 | | 1,315 | |
| Ur-Energy, Inc.* (Oil, Gas & Consumable Fuels) | | 158 | | 207 | |
| Urstadt Biddle Properties, Inc. - Class A (Equity Real Estate Investment Trusts (REITs)) | | 22 | | 413 | |
| USANA Health Sciences, Inc.* (Personal Products) | | 8 | | 468 | |
| USCB Financial Holdings, Inc.* (Banks) | | 8 | | 96 | |
| Utah Medical Products, Inc. (Health Care Equipment & Supplies) | | 3 | | 276 | |
| Utz Brands, Inc. (Food Products) | | 49 | | 816 | |
| V2X, Inc.* (Aerospace & Defense) | | 9 | | 397 | |
| VAALCO Energy, Inc. (Oil, Gas & Consumable Fuels) | | 80 | | 372 | |
| Vacasa, Inc.*(a) - Class A (Hotels, Restaurants & Leisure) | | 87 | | 152 | |
| Valaris, Ltd.* (Energy Equipment & Services) | | 46 | | 3,341 | |
| Valhi, Inc. (Chemicals) | | 2 | | 52 | |
| Valley National Bancorp (Banks) | | 324 | | 3,848 | |
| Value Line, Inc. (Capital Markets) | | 1 | | 52 | |
| Vanda Pharmaceuticals, Inc.* (Biotechnology) | | 42 | | 323 | |
| Varex Imaging Corp.* (Health Care Equipment & Supplies) | | 29 | | 623 | |
| Varonis Systems, Inc.* (Software) | | 82 | | 2,119 | |
| Vaxart, Inc.* (Biotechnology) | | 97 | | 105 | |
| Vaxcyte, Inc.* (Pharmaceuticals) | | 54 | | 2,449 | |
| VBI Vaccines, Inc.* (Biotechnology) | | 145 | | 84 | |
| Vector Group, Ltd. (Tobacco) | | 108 | | 1,399 | |
| Veeco Instruments, Inc.* (Semiconductors & Semiconductor Equipment) | | 38 | | 755 | |
See accompanying notes to schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | Value | |
| Velo3D, Inc.* (Technology Hardware, Storage & Peripherals) | | 43 | | $ | 103 | |
| Velocity Financial, Inc.* (Thrifts & Mortgage Finance) | | 6 | | 61 | |
| Velodyne Lidar, Inc.* (Electronic Equipment, Instruments & Components) | | 157 | | 184 | |
| Ventyx Biosciences, Inc.* (Pharmaceuticals) | | 19 | | 798 | |
| Vera Therapeutics, Inc.* (Biotechnology) | | 11 | | 93 | |
| Veracyte, Inc.* (Biotechnology) | | 54 | | 1,357 | |
| Veradigm, Inc.* (Health Care Technology) | | 81 | | 1,451 | |
| Vericel Corp.* (Biotechnology) | | 36 | | 989 | |
| Verint Systems, Inc.* (Software) | | 48 | | 1,823 | |
| Veris Residential, Inc.* (Equity Real Estate Investment Trusts (REITs)) | | 65 | | 1,125 | |
| Veritex Holdings, Inc. (Banks) | | 40 | | 1,126 | |
| Veritiv Corp. (Trading Companies & Distributors) | | 10 | | 1,250 | |
| Veritone, Inc.* (Software) | | 24 | | 203 | |
| Verra Mobility Corp.* - Class C (IT Services) | | 106 | | 1,636 | |
| Vertex Energy, Inc.* (Oil, Gas & Consumable Fuels) | | 41 | | 298 | |
| Veru, Inc.* (Personal Products) | | 49 | | 282 | |
| Verve Therapeutics, Inc.* (Biotechnology) | | 35 | | 796 | |
| Via Renewables, Inc. (Multi-Utilities) | | 9 | | 60 | |
| Viad Corp.* (Commercial Services & Supplies) | | 15 | | 443 | |
| Viant Technology, Inc.* - Class A (Software) | | 11 | | 50 | |
| Viavi Solutions, Inc.* (Communications Equipment) | | 171 | | 1,932 | |
| Vicarious Surgical, Inc.* (Health Care Equipment & Supplies) | | 42 | | 114 | |
| Vicor Corp.* (Electrical Equipment) | | 17 | | 1,180 | |
| Victory Capital Holdings, Inc. - Class A (Capital Markets) | | 12 | | 356 | |
| View, Inc.* (Building Products) | | 86 | | 71 | |
| ViewRay, Inc.* (Health Care Equipment & Supplies) | | 111 | | 509 | |
| Village Super Market, Inc. - Class A (Food & Staples Retailing) | | 6 | | 140 | |
| Vimeo, Inc.* (Interactive Media & Services) | | 108 | | 490 | |
| Vinco Ventures, Inc.* (Leisure Products) | | 177 | | 131 | |
| Vintage Wine Estates, Inc.* (Beverages) | | 24 | | 69 | |
| Vir Biotechnology, Inc.* (Biotechnology) | | 55 | | 1,625 | |
| Virgin Galactic Holdings, Inc.*(a) (Aerospace & Defense) | | 182 | | 1,005 | |
| Viridian Therapeutics, Inc.* (Biotechnology) | | 28 | | 1,023 | |
| Virtus Investment Partners, Inc. (Capital Markets) | | 5 | | 1,074 | |
| Vishay Intertechnology, Inc. (Electronic Equipment, Instruments & Components) | | 98 | | 2,243 | |
| Vishay Precision Group, Inc.* (Electronic Equipment, Instruments & Components) | | 9 | | 389 | |
| Vista Outdoor, Inc.* (Leisure Products) | | 42 | | 1,233 | |
| VistaGen Therapeutics, Inc.* (Biotechnology) | | 156 | | 40 | |
| Visteon Corp.* (Auto Components) | | 21 | | 3,283 | |
| Vital Energy, Inc.* (Oil, Gas & Consumable Fuels) | | 12 | | 675 | |
| Vital Farms, Inc.* (Food Products) | | 22 | | 387 | |
| Vivid Seats, Inc.* - Class A (Internet & Direct Marketing Retail) | | 19 | | | 162 | |
| Vivint Smart Home, Inc.* (Diversified Consumer Services) | | 71 | | 851 | |
| Vizio Holding Corp.* - Class A (Household Durables) | | 52 | | 456 | |
| Volta, Inc.* (Specialty Retail) | | 93 | | 80 | |
| VSE Corp. (Commercial Services & Supplies) | | 8 | | 439 | |
| Vuzix Corp.* (Household Durables) | | 45 | | 234 | |
| W&T Offshore, Inc.* (Oil, Gas & Consumable Fuels) | | 71 | | 442 | |
| Wabash National Corp. (Machinery) | | 36 | | 927 | |
| Walker & Dunlop, Inc. (Thrifts & Mortgage Finance) | | 23 | | 2,194 | |
| Warby Parker, Inc.* - Class A (Specialty Retail) | | 63 | | 1,017 | |
| Warrior Met Coal, Inc. (Metals & Mining) | | 39 | | 1,477 | |
| Washington Federal, Inc. (Banks) | | 49 | | 1,738 | |
| Washington Trust Bancorp, Inc. (Banks) | | 13 | | 556 | |
| Waterstone Financial, Inc. (Thrifts & Mortgage Finance) | | 14 | | 225 | |
| Watts Water Technologies, Inc. - Class A (Machinery) | | 21 | | 3,434 | |
| WD-40 Co. (Household Products) | | 10 | | 1,745 | |
| Weatherford International PLC* (Energy Equipment & Services) | | 53 | | 3,015 | |
| Weave Communications, Inc.* (Software) | | 24 | | 125 | |
| Weber, Inc.(a) - Class A (Household Durables) | | 20 | | 163 | |
| Weis Markets, Inc. (Food & Staples Retailing) | | 12 | | 1,036 | |
| Wejo Group, Ltd.* (Interactive Media & Services) | | 43 | | 38 | |
| Werner Enterprises, Inc. (Road & Rail) | | 48 | | 2,254 | |
| WesBanco, Inc. (Banks) | | 43 | | 1,598 | |
| WESCO International, Inc.* (Trading Companies & Distributors) | | 1 | | 149 | |
| West Bancorp, Inc. (Banks) | | 12 | | 263 | |
| Westamerica Bancorp (Banks) | | 20 | | 1,111 | |
| Weyco Group, Inc. (Distributors) | | 4 | | 109 | |
| Wheels Up Experience, Inc.* (Airlines) | | 121 | | 149 | |
| Whitestone REIT (Equity Real Estate Investment Trusts (REITs)) | | 35 | | 364 | |
| Whole Earth Brands, Inc.* (Food Products) | | 31 | | 117 | |
| WideOpenWest, Inc.* (Media) | | 40 | | 460 | |
| Willdan Group, Inc.* (Professional Services) | | 9 | | 171 | |
| Wingstop, Inc. (Hotels, Restaurants & Leisure) | | 23 | | 3,645 | |
| Winmark Corp. (Specialty Retail) | | 2 | | 562 | |
| Winnebago Industries, Inc. (Automobiles) | | 22 | | 1,401 | |
| WisdomTree, Inc. (Capital Markets) | | 103 | | 593 | |
| WM Technology, Inc.* (Software) | | 57 | | 72 | |
| Wolverine World Wide, Inc. (Textiles, Apparel & Luxury Goods) | | 58 | | 936 | |
| Workhorse Group, Inc.* (Automobiles) | | 115 | | 254 | |
| Workiva, Inc.* (Software) | | 36 | | 3,115 | |
| World Acceptance Corp.* (Consumer Finance) | | 3 | | 287 | |
See accompanying notes to schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | Value | |
| World Fuel Services Corp. (Oil, Gas & Consumable Fuels) | | 46 | | $ | 1,302 | |
| Worthington Industries, Inc. (Metals & Mining) | | 24 | | 1,365 | |
| WSFS Financial Corp. (Thrifts & Mortgage Finance) | | 46 | | 2,222 | |
| WW International, Inc.* (Diversified Consumer Services) | | 41 | | 204 | |
| Xencor, Inc.* (Biotechnology) | | 43 | | 1,416 | |
| Xenia Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts (REITs)) | | 86 | | 1,281 | |
| Xeris Biopharma Holdings, Inc.* (Pharmaceuticals) | | 100 | | 124 | |
| Xerox Holdings Corp. (Technology Hardware, Storage & Peripherals) | | 86 | | 1,409 | |
| Xometry, Inc.*(a) - Class A (Internet & Direct Marketing Retail) | | 26 | | 911 | |
| Xos, Inc.*(a) (Machinery) | | 42 | | 40 | |
| XPEL, Inc.* (Auto Components) | | 16 | | 1,217 | |
| Xperi, Inc.* (Software) | | 31 | | 321 | |
| Xponential Fitness, Inc.* - Class A (Hotels, Restaurants & Leisure) | | 13 | | 357 | |
| Yelp, Inc.* (Interactive Media & Services) | | 51 | | 1,607 | |
| Yext, Inc.* (Software) | | 86 | | 598 | |
| Y-mAbs Therapeutics, Inc.* (Biotechnology) | | 28 | | 126 | |
| Zentalis Pharmaceuticals, Inc.* (Biotechnology) | | 35 | | 826 | |
| Zeta Global Holdings Corp.* - Class A (Software) | | 84 | | 763 | |
| Ziff Davis, Inc.* (Interactive Media & Services) | | 34 | | 3,042 | |
| Zimvie, Inc.* (Health Care Equipment & Supplies) | | 16 | | 157 | |
| ZipRecruiter, Inc.* (Interactive Media & Services) | | 55 | | 1,080 | |
| Zumiez, Inc.* (Specialty Retail) | | 12 | | 310 | |
| Zuora, Inc.* - Class A (Software) | | 94 | | 744 | |
| Zurn Elkay Water Solutions Corp. (Building Products) | | 93 | | 2,033 | |
| Zynex, Inc.* (Health Care Equipment & Supplies) | | 16 | | 226 | |
| TOTAL COMMON STOCKS | | | | | |
| (Cost $1,004,860) | | | | 1,879,172 | |
| | | | | | |
| Right(NM) | | | | | | |
| Zogenix, Inc. CVR;*+(b) (Pharmaceuticals) | | 40 | | | 27 | |
| TOTAL RIGHT | | | | | | |
| (Cost $–) | | | | | 27 | |
| | | | | | | |
| Trust (0.0%) | | | | | | |
| | | | | | | |
| | | Interest
Units | | Value | |
| Ferroglobe Representation and Warranty Insurance*+ (Metals & Mining) | | 290 | | $ | — | |
| TOTAL TRUST | | | | | | |
| (Cost $–) | | | | | — | |
Repurchase Agreements(c)(d) (41.6%)
| | | Principal
Amount | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%-4.22%, dated 1/31/23, due 2/1/23, total to be received $1,276,149 | | $ | 1,276,000 | | $ | 1,276,000 | |
| TOTAL REPURCHASE AGREEMENTS | | | | | | | |
| (Cost $1,276,000) | | | | | | 1,276,000 | |
Collateral for Securities Loaned(e) (0.5%)
| | | Shares | | Value | |
| Invesco Government & Agency Portfolio-Institutional Shares, 4.32%(f) | | | 16,510 | | $ | 16,510 | |
| TOTAL COLLATERAL FOR SECURITIES LOANED (Cost $16,510) | | | | | | 16,510 | |
| TOTAL INVESTMENT SECURITIES | | | | | | | |
| (Cost $2,297,370) - 103.3% | | | | | | 3,171,709 | |
| Net other assets (liabilities) - (3.3)% | | | | | | (103,450 | ) |
| NET ASSETS - 100.0% | | | | | $ | 3,068,259 | |
| * | Non-income producing security. |
| + | These securities were fair valued based on procedures approved by the Board of Trustees. As of January 31, 2023, 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, 2023. The total value of securities on loan as of January 31, 2023 was $16,172. |
| (b) | On March 7, 2022, UCB SA acquired Zogenix Inc. As part of the acquisition, shareholders of Zogenix Inc. are entitled to a CVR per share of Zogenix Inc. held. The CVR has a potential cash payment of $2.00 upon EU approval by December 31, 2023, of FINTEPLA® as an orphan medicine for treatment of Lennox-Gastaut syndrome (LGS). Subsequent to the date of this report, it was determined that the required contingencies of this CVR had been satisfied. Consequently, each outstanding CVR was retired in exchange for a $2.00 cash payment, effective February 24, 2023. |
| (c) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase. |
| (d) | 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, 2023, the aggregate amount held in a segregated account was $183,000. |
| (e) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (f) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
| CVR | Contingent Value Rights |
| NM | Not meaningful, amount is less than 0.05%. |
See accompanying notes to schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
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 | | 2/27/23 | | | 4.73 | % | | $ | 936,991 | | | $ | 12,213 | |
| Russell 2000 Index | | UBS AG | | 2/27/23 | | | 4.33 | % | | | 253,085 | | | | 2,580 | |
| | | | | | | | | | | $ | 1,190,076 | | | $ | 14,793 | |
| (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, 2023, 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 schedules of portfolio investments.
Small-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Small-Cap ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 18,581 | | | | 0.6 | % |
| Air Freight & Logistics | | | 7,724 | | | | 0.3 | % |
| Airlines | | | 5,933 | | | | 0.2 | % |
| Auto Components | | | 27,345 | | | | 0.9 | % |
| Automobiles | | | 3,210 | | | | 0.1 | % |
| Banks | | | 170,431 | | | | 5.5 | % |
| Beverages | | | 10,843 | | | | 0.4 | % |
| Biotechnology | | | 134,518 | | | | 4.4 | % |
| Building Products | | | 25,114 | | | | 0.8 | % |
| Capital Markets | | | 31,128 | | | | 1.0 | % |
| Chemicals | | | 38,822 | | | | 1.3 | % |
| Commercial Services & Supplies | | | 26,077 | | | | 0.8 | % |
| Communications Equipment | | | 16,768 | | | | 0.5 | % |
| Construction & Engineering | | | 30,150 | | | | 1.0 | % |
| Construction Materials | | | 3,261 | | | | 0.1 | % |
| Consumer Discretionary Products | | | 516 | | | | | NM |
| Consumer Finance | | | 11,819 | | | | 0.4 | % |
| Containers & Packaging | | | 6,210 | | | | 0.2 | % |
| Distributors | | | 399 | | | | | NM |
| Diversified Consumer Services | | | 20,402 | | | | 0.7 | % |
| Diversified Financial Services | | | 5,970 | | | | 0.2 | % |
| Diversified Telecommunication Services | | | 12,085 | | | | 0.4 | % |
| Electric Utilities | | | 12,977 | | | | 0.4 | % |
| Electrical Equipment | | | 27,145 | | | | 0.9 | % |
| Electronic Equipment, Instruments & Components | | | 44,402 | | | | 1.4 | % |
| Energy Equipment & Services | | | 40,684 | | | | 1.3 | % |
| Entertainment | | | 5,730 | | | | 0.2 | % |
| Equity Real Estate Investment Trusts (REITs) | | | 112,367 | | | | 3.6 | % |
| Food & Staples Retailing | | | 11,069 | | | | 0.4 | % |
| Food Products | | | 21,350 | | | | 0.7 | % |
| Gas Utilities | | | 19,195 | | | | 0.6 | % |
| Health Care Equipment & Supplies | | | 64,304 | | | | 2.1 | % |
| Health Care Providers & Services | | | 47,416 | | | | 1.5 | % |
| Health Care Technology | | | 16,612 | | | | 0.5 | % |
| Hotels, Restaurants & Leisure | | | 47,746 | | | | 1.6 | % |
| Household Durables | | | 32,052 | | | | 1.0 | % |
| Household Products | | | 5,083 | | | | 0.2 | % |
| Independent Power and Renewable Electricity Producers | | | 8,612 | | | | 0.3 | % |
| Industrial Conglomerates | | | 453 | | | | | NM |
| Insurance | | | 38,952 | | | | 1.3 | % |
| Interactive Media & Services | | | 12,966 | | | | 0.4 | % |
| Internet & Direct Marketing Retail | | | 7,991 | | | | 0.3 | % |
| IT Services | | | 38,752 | | | | 1.3 | % |
| Leisure Products | | | 11,853 | | | | 0.4 | % |
| Life Sciences Tools & Services | | | 14,204 | | | | 0.5 | % |
| Machinery | | | 74,782 | | | | 2.4 | % |
| Marine | | | 4,634 | | | | 0.2 | % |
| Media | | | 17,271 | | | | 0.6 | % |
| Metals & Mining | | | 31,267 | | | | 1.0 | % |
| Mortgage Real Estate Investment Trusts (REITs) | | | 24,021 | | | | 0.8 | % |
| Multiline Retail | | | 1,524 | | | | | NM |
| Multi-Utilities | | | 8,967 | | | | 0.3 | % |
| Oil, Gas & Consumable Fuels | | | 83,089 | | | | 2.7 | % |
| Paper & Forest Products | | | 3,820 | | | | 0.1 | % |
| Personal Products | | | 13,918 | | | | 0.5 | % |
| Pharmaceuticals | | | 34,350 | | | | 1.1 | % |
| Professional Services | | | 29,609 | | | | 1.0 | % |
| Real Estate Management & Development | | | 13,078 | | | | 0.4 | % |
| Road & Rail | | | 11,790 | | | | 0.4 | % |
| Semiconductors & Semiconductor Equipment | | | 52,721 | | | | 1.7 | % |
| Software | | | 85,370 | | | | 2.8 | % |
| Specialty Retail | | | 43,880 | | | | 1.4 | % |
| Technology Hardware, Storage & Peripherals | | | 7,265 | | | | 0.2 | % |
| Textiles, Apparel & Luxury Goods | | | 13,732 | | | | 0.4 | % |
| Thrifts & Mortgage Finance | | | 27,842 | | | | 0.9 | % |
| Tobacco | | | 2,767 | | | | 0.1 | % |
| Trading Companies & Distributors | | | 32,678 | | | | 1.1 | % |
| Water Utilities | | | 8,913 | | | | 0.3 | % |
| Wireless Telecommunication Services | | | 2,690 | | | | 0.1 | % |
| Other ** | | | 1,189,060 | | | | 38.8 | % |
| Total | | $ | 3,068,259 | | | | 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 schedules of portfolio investments.
UltraBull ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks (68.4%)
| | | Shares | | | Value | |
| 3M Co. (Industrial Conglomerates) | | | 1,267 | | | $ | 145,806 | |
| A.O. Smith Corp. (Building Products) | | | 290 | | | | 19,633 | |
| Abbott Laboratories (Health Care Equipment & Supplies) | | | 3,997 | | | | 441,867 | |
| AbbVie, Inc. (Biotechnology) | | | 4,054 | | | | 598,978 | |
| Accenture PLC - Class A (IT Services) | | | 1,445 | | | | 403,227 | |
| Activision Blizzard, Inc. (Entertainment) | | | 1,632 | | | | 124,962 | |
| Adobe, Inc.* (Software) | | | 1,066 | | | | 394,783 | |
| Advance Auto Parts, Inc. (Specialty Retail) | | | 137 | | | | 20,862 | |
| Advanced Micro Devices, Inc.* (Semiconductors & Semiconductor Equipment) | | | 3,696 | | | | 277,754 | |
| Aflac, Inc. (Insurance) | | | 1,297 | | | | 95,330 | |
| Agilent Technologies, Inc. (Life Sciences Tools & Services) | | | 679 | | | | 103,262 | |
| Air Products & Chemicals, Inc. (Chemicals) | | | 508 | | | | 162,818 | |
| Akamai Technologies, Inc.* (IT Services) | | | 360 | | | | 32,022 | |
| Alaska Air Group, Inc.* (Airlines) | | | 291 | | | | 14,940 | |
| Albemarle Corp. (Chemicals) | | | 269 | | | | 75,710 | |
| Alexandria Real Estate Equities, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 342 | | | | 54,973 | |
| Align Technology, Inc.* (Health Care Equipment & Supplies) | | | 167 | | | | 45,045 | |
| Allegion PLC (Building Products) | | | 201 | | | | 23,628 | |
| Alliant Energy Corp. (Electric Utilities) | | | 576 | | | | 31,121 | |
| Alphabet, Inc.* - Class A (Interactive Media & Services) | | | 13,691 | | | | 1,353,219 | |
| Alphabet, Inc.* - Class C (Interactive Media & Services) | | | 12,136 | | | | 1,212,022 | |
| Altria Group, Inc. (Tobacco) | | | 4,108 | | | | 185,024 | |
| Amazon.com, Inc.* (Internet & Direct Marketing Retail) | | | 20,344 | | | | 2,098,077 | |
| Amcor PLC (Containers & Packaging) | | | 3,414 | | | | 41,173 | |
| Ameren Corp. (Multi-Utilities) | | | 592 | | | | 51,427 | |
| American Airlines Group, Inc.* (Airlines) | | | 1,490 | | | | 24,049 | |
| American Electric Power Co., Inc. (Electric Utilities) | | | 1,178 | | | | 110,685 | |
| American Express Co. (Consumer Finance) | | | 1,370 | | | | 239,654 | |
| American International Group, Inc. (Insurance) | | | 1,703 | | | | 107,664 | |
| American Tower Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 1,067 | | | | 238,358 | |
| American Water Works Co., Inc. (Water Utilities) | | | 416 | | | | 65,100 | |
| Ameriprise Financial, Inc. (Capital Markets) | | | 244 | | | | 85,429 | |
| AmerisourceBergen Corp. (Health Care Providers & Services) | | | 372 | | | | 62,853 | |
| AMETEK, Inc. (Electrical Equipment) | | | 527 | | | | 76,373 | |
| Amgen, Inc. (Biotechnology) | | | 1,223 | | | | 308,685 | |
| Amphenol Corp. - Class A (Electronic Equipment, Instruments & Components) | | | 1,365 | | | | 108,887 | |
| Analog Devices, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,179 | | | | 202,163 | |
| ANSYS, Inc.* (Software) | | | 200 | | | | 53,272 | |
| Aon PLC (Insurance) | | | 475 | | | | 151,373 | |
| APA Corp. (Oil, Gas & Consumable Fuels) | | | 737 | | | | 32,671 | |
| Apple, Inc. (Technology Hardware, Storage & Peripherals) | | | 34,276 | | | | 4,945,683 | |
| Applied Materials, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,972 | | | | 219,858 | |
| Aptiv PLC* (Auto Components) | | | 621 | | | | 70,229 | |
| Arch Capital Group, Ltd.* (Insurance) | | | 848 | | | | 54,569 | |
| Archer-Daniels-Midland Co. (Food Products) | | | 1,259 | | | | 104,308 | |
| Arista Networks, Inc.* (Communications Equipment) | | | 567 | | | | 71,453 | |
| Arthur J. Gallagher & Co. (Insurance) | | | 483 | | | | 94,533 | |
| Assurant, Inc. (Insurance) | | | 121 | | | | 16,043 | |
| AT&T, Inc. (Diversified Telecommunication Services) | | | 16,337 | | | | 332,785 | |
| Atmos Energy Corp. (Gas Utilities) | | | 321 | | | | 37,730 | |
| Autodesk, Inc.* (Software) | | | 494 | | | | 106,289 | |
| Automatic Data Processing, Inc. (IT Services) | | | 951 | | | | 214,745 | |
| AutoZone, Inc.* (Specialty Retail) | | | 44 | | | | 107,309 | |
| AvalonBay Communities, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 321 | | | | 56,958 | |
| Avery Dennison Corp. (Containers & Packaging) | | | 185 | | | | 35,046 | |
| Baker Hughes Co. (Energy Equipment & Services) | | | 2,296 | | | | 72,875 | |
| Ball Corp. (Containers & Packaging) | | | 719 | | | | 41,876 | |
| Bank of America Corp. (Banks) | | | 15,999 | | | | 567,645 | |
| Bath & Body Works, Inc. (Specialty Retail) | | | 524 | | | | 24,109 | |
| Baxter International, Inc. (Health Care Equipment & Supplies) | | | 1,156 | | | | 52,818 | |
| Becton, Dickinson & Co. (Health Care Equipment & Supplies) | | | 654 | | | | 164,952 | |
| Berkshire Hathaway, Inc.* - Class B (Diversified Financial Services) | | | 4,130 | | | | 1,286,578 | |
| Best Buy Co., Inc. (Specialty Retail) | | | 459 | | | | 40,722 | |
| Biogen, Inc.* (Biotechnology) | | | 330 | | | | 95,997 | |
| Bio-Rad Laboratories, Inc.* - Class A (Life Sciences Tools & Services) | | | 49 | | | | 22,906 | |
| Bio-Techne Corp. (Life Sciences Tools & Services) | | | 360 | | | | 28,678 | |
| BlackRock, Inc. - Class A (Capital Markets) | | | 345 | | | | 261,927 | |
| Booking Holdings, Inc.* (Hotels, Restaurants & Leisure) | | | 88 | | | | 214,201 | |
| BorgWarner, Inc. (Auto Components) | | | 537 | | | | 25,389 | |
| Boston Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 327 | | | | 24,375 | |
| Boston Scientific Corp.* (Health Care Equipment & Supplies) | | | 3,283 | | | | 151,839 | |
| Bristol-Myers Squibb Co. (Pharmaceuticals) | | | 4,873 | | | | 354,023 | |
| Broadcom, Inc. (Semiconductors & Semiconductor Equipment) | | | 928 | | | | 542,889 | |
| Broadridge Financial Solutions, Inc. (IT Services) | | | 270 | | | | 40,597 | |
| Brown & Brown, Inc. (Insurance) | | | 539 | | | | 31,564 | |
| Brown-Forman Corp. - Class B (Beverages) | | | 419 | | | | 27,897 | |
| C.H. Robinson Worldwide, Inc. (Air Freight & Logistics) | | | 270 | | | | 27,046 | |
| Cadence Design Systems, Inc.* (Software) | | | 629 | | | | 115,000 | |
See accompanying notes to schedules of portfolio investments.
UltraBull ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Caesars Entertainment, Inc.* (Hotels, Restaurants & Leisure) | | | 493 | | | $ | 25,666 | |
| Camden Property Trust (Equity Real Estate Investment Trusts (REITs)) | | | 245 | | | | 30,186 | |
| Campbell Soup Co. (Food Products) | | | 460 | | | | 23,888 | |
| Capital One Financial Corp. (Consumer Finance) | | | 875 | | | | 104,125 | |
| Cardinal Health, Inc. (Health Care Providers & Services) | | | 601 | | | | 46,427 | |
| CarMax, Inc.* (Specialty Retail) | | | 362 | | | | 25,503 | |
| Carnival Corp.* - Class A (Hotels, Restaurants & Leisure) | | | 2,295 | | | | 24,832 | |
| Carrier Global Corp. (Building Products) | | | 1,917 | | | | 87,281 | |
| Catalent, Inc.* (Pharmaceuticals) | | | 412 | | | | 22,063 | |
| Caterpillar, Inc. (Machinery) | | | 1,193 | | | | 300,983 | |
| Cboe Global Markets, Inc. (Capital Markets) | | | 244 | | | | 29,983 | |
| CBRE Group, Inc.* - Class A (Real Estate Management & Development) | | | 724 | | | | 61,909 | |
| CDW Corp. (Electronic Equipment, Instruments & Components) | | | 310 | | | | 60,769 | |
| Celanese Corp. (Chemicals) | | | 229 | | | | 28,213 | |
| Centene Corp.* (Health Care Providers & Services) | | | 1,298 | | | | 98,960 | |
| CenterPoint Energy, Inc. (Multi-Utilities) | | | 1,443 | | | | 43,463 | |
| Ceridian HCM Holding, Inc.* (Software) | | | 352 | | | | 25,443 | |
| CF Industries Holdings, Inc. (Chemicals) | | | 450 | | | | 38,115 | |
| Charles River Laboratories International, Inc.* (Life Sciences Tools & Services) | | | 117 | | | | 28,460 | |
| Charter Communications, Inc.* - Class A (Media) | | | 247 | | | | 94,925 | |
| Chevron Corp. (Oil, Gas & Consumable Fuels) | | | 4,078 | | | | 709,654 | |
| Chipotle Mexican Grill, Inc.* (Hotels, Restaurants & Leisure) | | | 63 | | | | 103,722 | |
| Chubb, Ltd. (Insurance) | | | 951 | | | | 216,342 | |
| Church & Dwight Co., Inc. (Household Products) | | | 559 | | | | 45,201 | |
| Cigna Corp. (Health Care Providers & Services) | | | 700 | | | | 221,669 | |
| Cincinnati Financial Corp. (Insurance) | | | 360 | | | | 40,734 | |
| Cintas Corp. (Commercial Services & Supplies) | | | 198 | | | | 87,861 | |
| Cisco Systems, Inc. (Communications Equipment) | | | 9,411 | | | | 458,033 | |
| Citigroup, Inc. (Banks) | | | 4,439 | | | | 231,805 | |
| Citizens Financial Group, Inc. (Banks) | | | 1,130 | | | | 48,952 | |
| CME Group, Inc. (Capital Markets) | | | 824 | | | | 145,568 | |
| CMS Energy Corp. (Multi-Utilities) | | | 665 | | | | 42,021 | |
| Cognizant Technology Solutions Corp. - Class A (IT Services) | | | 1,178 | | | | 78,632 | |
| Colgate-Palmolive Co. (Household Products) | | | 1,914 | | | | 142,650 | |
| Comcast Corp. - Class A (Media) | | | 9,886 | | | | 389,015 | |
| Comerica, Inc. (Banks) | | | 300 | | | | 21,993 | |
| Conagra Brands, Inc. (Food Products) | | | 1,098 | | | | 40,835 | |
| ConocoPhillips (Oil, Gas & Consumable Fuels) | | | 2,856 | | | | 348,061 | |
| Consolidated Edison, Inc. (Multi-Utilities) | | | 813 | | | | 77,487 | |
| Constellation Brands, Inc. - Class A (Beverages) | | | 372 | | | | 86,125 | |
| Constellation Energy Corp. (Electric Utilities) | | | 749 | | | | 63,935 | |
| Copart, Inc.* (Commercial Services & Supplies) | | | 983 | | | | 65,478 | |
| Corning, Inc. (Electronic Equipment, Instruments & Components) | | | 1,745 | | | | 60,394 | |
| Corteva, Inc. (Chemicals) | | | 1,637 | | | | 105,505 | |
| CoStar Group, Inc.* (Professional Services) | | | 933 | | | | 72,680 | |
| Costco Wholesale Corp. (Food & Staples Retailing) | | | 1,015 | | | | 518,807 | |
| Coterra Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 1,808 | | | | 45,254 | |
| Crown Castle, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 993 | | | | 147,073 | |
| CSX Corp. (Road & Rail) | | | 4,820 | | | | 149,034 | |
| Cummins, Inc. (Machinery) | | | 324 | | | | 80,851 | |
| CVS Health Corp. (Health Care Providers & Services) | | | 3,012 | | | | 265,719 | |
| D.R. Horton, Inc. (Household Durables) | | | 717 | | | | 70,761 | |
| Danaher Corp. (Health Care Equipment & Supplies) | | | 1,502 | | | | 397,098 | |
| Darden Restaurants, Inc. (Hotels, Restaurants & Leisure) | | | 281 | | | | 41,580 | |
| DaVita, Inc.* (Health Care Providers & Services) | | | 126 | | | | 10,381 | |
| Deere & Co. (Machinery) | | | 630 | | | | 266,389 | |
| Delta Air Lines, Inc.* (Airlines) | | | 1,470 | | | | 57,476 | |
| DENTSPLY SIRONA, Inc. (Health Care Equipment & Supplies) | | | 493 | | | | 18,157 | |
| Devon Energy Corp. (Oil, Gas & Consumable Fuels) | | | 1,499 | | | | 94,797 | |
| DexCom, Inc.* (Health Care Equipment & Supplies) | | | 886 | | | | 94,882 | |
| Diamondback Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 403 | | | | 58,886 | |
| Digital Realty Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 659 | | | | 75,535 | |
| Discover Financial Services (Consumer Finance) | | | 627 | | | | 73,190 | |
| DISH Network Corp.* - Class A (Media) | | | 578 | | | | 8,317 | |
| Dollar General Corp. (Multiline Retail) | | | 517 | | | | 120,771 | |
| Dollar Tree, Inc.* (Multiline Retail) | | | 483 | | | | 72,537 | |
| Dominion Energy, Inc. (Multi-Utilities) | | | 1,910 | | | | 121,553 | |
| Domino's Pizza, Inc. (Hotels, Restaurants & Leisure) | | | 81 | | | | 28,593 | |
| Dover Corp. (Machinery) | | | 322 | | | | 48,889 | |
| Dow, Inc. (Chemicals) | | | 1,613 | | | | 95,732 | |
| DTE Energy Co. (Multi-Utilities) | | | 444 | | | | 51,668 | |
| Duke Energy Corp. (Electric Utilities) | | | 1,765 | | | | 180,824 | |
| DuPont de Nemours, Inc. (Chemicals) | | | 1,139 | | | | 84,229 | |
| DXC Technology Co.* (IT Services) | | | 528 | | | | 15,169 | |
| Eastman Chemical Co. (Chemicals) | | | 275 | | | | 24,247 | |
| Eaton Corp. PLC (Electrical Equipment) | | | 912 | | | | 147,935 | |
| eBay, Inc. (Internet & Direct Marketing Retail) | | | 1,244 | | | | 61,578 | |
| Ecolab, Inc. (Chemicals) | | | 568 | | | | 87,943 | |
| Edison International (Electric Utilities) | | | 875 | | | | 60,288 | |
See accompanying notes to schedules of portfolio investments.
UltraBull ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Edwards Lifesciences Corp.* (Health Care Equipment & Supplies) | | | 1,418 | | | $ | 108,761 | |
| Electronic Arts, Inc. (Entertainment) | | | 602 | | | | 77,465 | |
| Elevance Health, Inc. (Health Care Providers & Services) | | | 547 | | | | 273,495 | |
| Eli Lilly & Co. (Pharmaceuticals) | | | 1,808 | | | | 622,223 | |
| Emerson Electric Co. (Electrical Equipment) | | | 1,355 | | | | 122,248 | |
| Enphase Energy, Inc.* (Semiconductors & Semiconductor Equipment) | | | 311 | | | | 68,849 | |
| Entergy Corp. (Electric Utilities) | | | 466 | | | | 50,458 | |
| EOG Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 1,347 | | | | 178,141 | |
| EPAM Systems, Inc.* (IT Services) | | | 132 | | | | 43,910 | |
| EQT Corp. (Oil, Gas & Consumable Fuels) | | | 842 | | | | 27,508 | |
| Equifax, Inc. (Professional Services) | | | 281 | | | | 62,438 | |
| Equinix, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 212 | | | | 156,484 | |
| Equity Residential (Equity Real Estate Investment Trusts (REITs)) | | | 780 | | | | 49,647 | |
| Essex Property Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 149 | | | | 33,684 | |
| Etsy, Inc.* (Internet & Direct Marketing Retail) | | | 288 | | | | 39,623 | |
| Everest Re Group, Ltd. (Insurance) | | | 90 | | | | 31,472 | |
| Evergy, Inc. (Electric Utilities) | | | 526 | | | | 32,954 | |
| Eversource Energy (Electric Utilities) | | | 798 | | | | 65,699 | |
| Exelon Corp. (Electric Utilities) | | | 2,278 | | | | 96,109 | |
| Expedia Group, Inc.* (Hotels, Restaurants & Leisure) | | | 346 | | | | 39,548 | |
| Expeditors International of Washington, Inc. (Air Freight & Logistics) | | | 364 | | | | 39,367 | |
| Extra Space Storage, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 307 | | | | 48,454 | |
| Exxon Mobil Corp. (Oil, Gas & Consumable Fuels) | | | 9,439 | | | | 1,095,018 | |
| F5, Inc.* (Communications Equipment) | | | 137 | | | | 20,229 | |
| FactSet Research Systems, Inc. (Capital Markets) | | | 87 | | | | 36,796 | |
| Fastenal Co. (Trading Companies & Distributors) | | | 1,313 | | | | 66,372 | |
| Federal Realty Investment Trust (Equity Real Estate Investment Trusts (REITs)) | | | 168 | | | | 18,737 | |
| FedEx Corp. (Air Freight & Logistics) | | | 549 | | | | 106,429 | |
| Fidelity National Information Services, Inc. (IT Services) | | | 1,360 | | | | 102,054 | |
| Fifth Third Bancorp (Banks) | | | 1,574 | | | | 57,120 | |
| First Horizon Corp. (Banks) | | | – | † | | | 7 | |
| First Republic Bank (Banks) | | | 419 | | | | 59,029 | |
| First Solar, Inc.* (Semiconductors & Semiconductor Equipment) | | | 227 | | | | 40,315 | |
| FirstEnergy Corp. (Electric Utilities) | | | 1,245 | | | | 50,983 | |
| Fiserv, Inc.* (IT Services) | | | 1,455 | | | | 155,219 | |
| FleetCor Technologies, Inc.* (IT Services) | | | 169 | | | | 35,289 | |
| FMC Corp. (Chemicals) | | | 288 | | | | 38,341 | |
| Ford Motor Co. (Automobiles) | | | 9,054 | | | | 122,320 | |
| Fortinet, Inc.* (Software) | | | 1,486 | | | | 77,777 | |
| Fortive Corp. (Machinery) | | | 811 | | | | 55,172 | |
| Fox Corp. - Class A (Media) | | | 694 | | | | 23,554 | |
| Fox Corp. - Class B (Media) | | | 320 | | | | 10,144 | |
| Franklin Resources, Inc. (Capital Markets) | | | 652 | | | | 20,342 | |
| Freeport-McMoRan, Inc. (Metals & Mining) | | | 3,277 | | | | 146,219 | |
| Garmin, Ltd. (Household Durables) | | | 352 | | | | 34,806 | |
| Gartner, Inc.* (IT Services) | | | 181 | | | | 61,203 | |
| GE HealthCare Technologies, Inc.* (Health Care Equipment & Supplies) | | | 834 | | | | 57,980 | |
| Gen Digital, Inc. (Software) | | | 1,330 | | | | 30,603 | |
| Generac Holdings, Inc.* (Electrical Equipment) | | | 146 | | | | 17,608 | |
| General Dynamics Corp. (Aerospace & Defense) | | | 516 | | | | 120,259 | |
| General Electric Co. (Industrial Conglomerates) | | | 2,504 | | | | 201,522 | |
| General Mills, Inc. (Food Products) | | | 1,360 | | | | 106,570 | |
| General Motors Co. (Automobiles) | | | 3,257 | | | | 128,065 | |
| Genuine Parts Co. (Distributors) | | | 323 | | | | 54,205 | |
| Gilead Sciences, Inc. (Biotechnology) | | | 2,875 | | | | 241,328 | |
| Global Payments, Inc. (IT Services) | | | 619 | | | | 69,774 | |
| Globe Life, Inc. (Insurance) | | | 207 | | | | 25,016 | |
| Halliburton Co. (Energy Equipment & Services) | | | 2,082 | | | | 85,820 | |
| Hartford Financial Services Group, Inc. (Insurance) | | | 730 | | | | 56,655 | |
| Hasbro, Inc. (Leisure Products) | | | 298 | | | | 17,633 | |
| HCA Healthcare, Inc. (Health Care Providers & Services) | | | 486 | | | | 123,964 | |
| Healthpeak Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,233 | | | | 33,883 | |
| Henry Schein, Inc.* (Health Care Providers & Services) | | | 311 | | | | 26,793 | |
| Hess Corp. (Oil, Gas & Consumable Fuels) | | | 636 | | | | 95,502 | |
| Hewlett Packard Enterprises Co. (Technology Hardware, Storage & Peripherals) | | | 2,951 | | | | 47,600 | |
| Hilton Worldwide Holdings, Inc. (Hotels, Restaurants & Leisure) | | | 620 | | | | 89,956 | |
| Hologic, Inc.* (Health Care Equipment & Supplies) | | | 572 | | | | 46,544 | |
| Honeywell International, Inc. (Industrial Conglomerates) | | | 1,541 | | | | 321,268 | |
| Hormel Foods Corp. (Food Products) | | | 664 | | | | 30,086 | |
| Host Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,640 | | | | 30,914 | |
| Howmet Aerospace, Inc. (Aerospace & Defense) | | | 844 | | | | 34,342 | |
| HP, Inc. (Technology Hardware, Storage & Peripherals) | | | 2,029 | | | | 59,125 | |
| Humana, Inc. (Health Care Providers & Services) | | | 290 | | | | 148,393 | |
| Huntington Bancshares, Inc. (Banks) | | | 3,308 | | | | 50,182 | |
| Huntington Ingalls Industries, Inc. (Aerospace & Defense) | | | 92 | | | | 20,290 | |
| IDEX Corp. (Machinery) | | | 173 | | | | 41,465 | |
| IDEXX Laboratories, Inc.* (Health Care Equipment & Supplies) | | | 189 | | | | 90,815 | |
| Illinois Tool Works, Inc. (Machinery) | | | 641 | | | | 151,302 | |
| Illumina, Inc.* (Life Sciences Tools & Services) | | | 360 | | | | 77,112 | |
| Incyte Corp.* (Biotechnology) | | | 424 | | | | 36,099 | |
See accompanying notes to schedules of portfolio investments.
UltraBull ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Ingersoll Rand, Inc. (Machinery) | | | 929 | | | $ | 52,024 | |
| Intel Corp. (Semiconductors & Semiconductor Equipment) | | | 9,461 | | | | 267,368 | |
| Intercontinental Exchange, Inc. (Capital Markets) | | | 1,280 | | | | 137,664 | |
| International Business Machines Corp. (IT Services) | | | 2,072 | | | | 279,161 | |
| International Flavors & Fragrances, Inc. (Chemicals) | | | 584 | | | | 65,677 | |
| International Paper Co. (Containers & Packaging) | | | 815 | | | | 34,083 | |
| Intuit, Inc. (Software) | | | 646 | | | | 273,045 | |
| Intuitive Surgical, Inc.* (Health Care Equipment & Supplies) | | | 810 | | | | 199,009 | |
| Invesco, Ltd. (Capital Markets) | | | 1,044 | | | | 19,324 | |
| Invitation Homes, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,332 | | | | 43,290 | |
| IQVIA Holdings, Inc.* (Life Sciences Tools & Services) | | | 426 | | | | 97,729 | |
| Iron Mountain, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 666 | | | | 36,350 | |
| J.B. Hunt Transport Services, Inc. (Road & Rail) | | | 189 | | | | 35,730 | |
| Jack Henry & Associates, Inc. (IT Services) | | | 168 | | | | 30,255 | |
| Jacobs Solutions, Inc. (Professional Services) | | | 292 | | | | 36,077 | |
| Johnson & Johnson (Pharmaceuticals) | | | 5,993 | | | | 979,377 | |
| Johnson Controls International PLC (Building Products) | | | 1,579 | | | | 109,851 | |
| JPMorgan Chase & Co. (Banks) | | | 6,724 | | | | 941,091 | |
| Juniper Networks, Inc. (Communications Equipment) | | | 745 | | | | 24,064 | |
| Kellogg Co. (Food Products) | | | 587 | | | | 40,256 | |
| Keurig Dr Pepper, Inc. (Beverages) | | | 1,948 | | | | 68,725 | |
| KeyCorp (Banks) | | | 2,140 | | | | 41,067 | |
| Keysight Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 410 | | | | 73,534 | |
| Kimberly-Clark Corp. (Household Products) | | | 773 | | | | 100,498 | |
| Kimco Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 1,419 | | | | 31,871 | |
| Kinder Morgan, Inc. (Oil, Gas & Consumable Fuels) | | | 4,535 | | | | 82,991 | |
| KLA Corp. (Semiconductors & Semiconductor Equipment) | | | 325 | | | | 127,556 | |
| L3Harris Technologies, Inc. (Aerospace & Defense) | | | 436 | | | | 93,662 | |
| Laboratory Corp. of America Holdings (Health Care Providers & Services) | | | 203 | | | | 51,180 | |
| Lam Research Corp. (Semiconductors & Semiconductor Equipment) | | | 312 | | | | 156,031 | |
| Lamb Weston Holding, Inc. (Food Products) | | | 330 | | | | 32,964 | |
| Las Vegas Sands Corp.* (Hotels, Restaurants & Leisure) | | | 754 | | | | 44,486 | |
| Leidos Holdings, Inc. (Professional Services) | | | 313 | | | | 30,937 | |
| Lennar Corp. - Class A (Household Durables) | | | 584 | | | | 59,802 | |
| Lincoln National Corp. (Insurance) | | | 353 | | | | 12,507 | |
| Linde PLC (Chemicals) | | | 1,133 | | | | 374,954 | |
| Live Nation Entertainment, Inc.* (Entertainment) | | | 328 | | | | 26,401 | |
| LKQ Corp. (Distributors) | | | 582 | | | | 34,315 | |
| Lockheed Martin Corp. (Aerospace & Defense) | | | 535 | | | | 247,844 | |
| Loews Corp. (Insurance) | | | 452 | | | | 27,789 | |
| Lowe's Cos., Inc. (Specialty Retail) | | | 1,423 | | | | 296,341 | |
| Lumen Technologies, Inc. (Diversified Telecommunication Services) | | | 2,183 | | | | 11,461 | |
| LyondellBasell Industries N.V. - Class A (Chemicals) | | | 582 | | | | 56,274 | |
| M&T Bank Corp. (Banks) | | | 396 | | | | 61,776 | |
| Marathon Oil Corp. (Oil, Gas & Consumable Fuels) | | | 1,457 | | | | 40,024 | |
| Marathon Petroleum Corp. (Oil, Gas & Consumable Fuels) | | | 1,074 | | | | 138,030 | |
| MarketAxess Holdings, Inc. (Capital Markets) | | | 86 | | | | 31,291 | |
| Marriott International, Inc. - Class A (Hotels, Restaurants & Leisure) | | | 618 | | | | 107,558 | |
| Marsh & McLennan Cos., Inc. (Insurance) | | | 1,137 | | | | 198,873 | |
| Martin Marietta Materials, Inc. (Construction Materials) | | | 143 | | | | 51,429 | |
| Masco Corp. (Building Products) | | | 517 | | | | 27,504 | |
| Mastercard, Inc. - Class A (IT Services) | | | 1,945 | | | | 720,817 | |
| Match Group, Inc.* (Interactive Media & Services) | | | 640 | | | | 34,637 | |
| McCormick & Co., Inc. (Food Products) | | | 575 | | | | 43,194 | |
| McDonald's Corp. (Hotels, Restaurants & Leisure) | | | 1,679 | | | | 448,964 | |
| McKesson Corp. (Health Care Providers & Services) | | | 325 | | | | 123,071 | |
| Medtronic PLC (Health Care Equipment & Supplies) | | | 3,046 | | | | 254,919 | |
| Merck & Co., Inc. (Pharmaceuticals) | | | 5,812 | | | | 624,267 | |
| Meta Platforms, Inc.* - Class A (Interactive Media & Services) | | | 5,155 | | | | 767,940 | |
| MetLife, Inc. (Insurance) | | | 1,510 | | | | 110,260 | |
| Mettler-Toledo International, Inc.* (Life Sciences Tools & Services) | | | 51 | | | | 78,179 | |
| MGM Resorts International (Hotels, Restaurants & Leisure) | | | 731 | | | | 30,271 | |
| Microchip Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,260 | | | | 97,801 | |
| Micron Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 2,492 | | | | 150,268 | |
| Microsoft Corp. (Software) | | | 17,087 | | | | 4,234,330 | |
| Mid-America Apartment Communities, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 264 | | | | 44,014 | |
| Moderna, Inc.* (Biotechnology) | | | 758 | | | | 133,453 | |
| Mohawk Industries, Inc.* (Household Durables) | | | 121 | | | | 14,527 | |
| Molina Healthcare, Inc.* (Health Care Providers & Services) | | | 134 | | | | 41,785 | |
| Molson Coors Beverage Co. - Class B (Beverages) | | | 431 | | | | 22,662 | |
See accompanying notes to schedules of portfolio investments.
UltraBull ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Mondelez International, Inc. - Class A (Food Products) | | | 3,130 | | | $ | 204,827 | |
| Monolithic Power Systems, Inc. (Semiconductors & Semiconductor Equipment) | | | 102 | | | | 43,509 | |
| Monster Beverage Corp.* (Beverages) | | | 873 | | | | 90,862 | |
| Moody's Corp. (Capital Markets) | | | 361 | | | | 116,513 | |
| Morgan Stanley (Capital Markets) | | | 3,021 | | | | 294,034 | |
| Motorola Solutions, Inc. (Communications Equipment) | | | 383 | | | | 98,435 | |
| MSCI, Inc. (Capital Markets) | | | 183 | | | | 97,275 | |
| Nasdaq, Inc. (Capital Markets) | | | 778 | | | | 46,828 | |
| NetApp, Inc. (Technology Hardware, Storage & Peripherals) | | | 499 | | | | 33,049 | |
| Netflix, Inc.* (Entertainment) | | | 1,020 | | | | 360,937 | |
| Newell Brands, Inc. (Household Durables) | | | 864 | | | | 13,789 | |
| Newmont Corp. (Metals & Mining) | | | 1,820 | | | | 96,333 | |
| News Corp. - Class A (Media) | | | 877 | | | | 17,768 | |
| News Corp. - Class B (Media) | | | 272 | | | | 5,560 | |
| NextEra Energy, Inc. (Electric Utilities) | | | 4,555 | | | | 339,940 | |
| NIKE, Inc. - Class B (Textiles, Apparel & Luxury Goods) | | | 2,886 | | | | 367,474 | |
| NiSource, Inc. (Multi-Utilities) | | | 931 | | | | 25,835 | |
| Nordson Corp. (Machinery) | | | 123 | | | | 29,926 | |
| Norfolk Southern Corp. (Road & Rail) | | | 531 | | | | 130,525 | |
| Northern Trust Corp. (Capital Markets) | | | 478 | | | | 46,352 | |
| Northrop Grumman Corp. (Aerospace & Defense) | | | 332 | | | | 148,749 | |
| Norwegian Cruise Line Holdings, Ltd.*(a) (Hotels, Restaurants & Leisure) | | | 967 | | | | 14,708 | |
| NRG Energy, Inc. (Electric Utilities) | | | 528 | | | | 18,068 | |
| Nucor Corp. (Metals & Mining) | | | 588 | | | | 99,384 | |
| NVIDIA Corp. (Semiconductors & Semiconductor Equipment) | | | 5,708 | | | | 1,115,173 | |
| NVR, Inc.* (Household Durables) | | | 7 | | | | 36,890 | |
| NXP Semiconductors N.V. (Semiconductors & Semiconductor Equipment) | | | 594 | | | | 109,480 | |
| Occidental Petroleum Corp. (Oil, Gas & Consumable Fuels) | | | 1,666 | | | | 107,940 | |
| Old Dominion Freight Line, Inc. (Road & Rail) | | | 208 | | | | 69,314 | |
| Omnicom Group, Inc. (Media) | | | 467 | | | | 40,157 | |
| ON Semiconductor Corp.* (Semiconductors & Semiconductor Equipment) | | | 991 | | | | 72,789 | |
| ONEOK, Inc. (Oil, Gas & Consumable Fuels) | | | 1,024 | | | | 70,124 | |
| Oracle Corp. (Software) | | | 3,522 | | | | 311,556 | |
| O'Reilly Automotive, Inc.* (Specialty Retail) | | | 144 | | | | 114,098 | |
| Organon & Co. (Pharmaceuticals) | | | 583 | | | | 17,566 | |
| Otis Worldwide Corp. (Machinery) | | | 954 | | | | 78,447 | |
| PACCAR, Inc. (Machinery) | | | 797 | | | | 87,120 | |
| Packaging Corp. of America (Containers & Packaging) | | | 212 | | | | 30,252 | |
| Paramount Global - Class B (Media) | | | 1,158 | | | | 26,819 | |
| Parker-Hannifin Corp. (Machinery) | | | 295 | | | | 96,170 | |
| Paychex, Inc. (IT Services) | | | 735 | | | | 85,157 | |
| Paycom Software, Inc.* (Software) | | | 111 | | | | 35,957 | |
| PayPal Holdings, Inc.* (IT Services) | | | 2,613 | | | | 212,933 | |
| Pentair PLC (Machinery) | | | 377 | | | | 20,878 | |
| PepsiCo, Inc. (Beverages) | | | 3,158 | | | | 540,081 | |
| PerkinElmer, Inc. (Life Sciences Tools & Services) | | | 289 | | | | 39,746 | |
| Pfizer, Inc. (Pharmaceuticals) | | | 12,864 | | | | 568,074 | |
| PG&E Corp.* (Electric Utilities) | | | 3,692 | | | | 58,703 | |
| Philip Morris International, Inc. (Tobacco) | | | 3,553 | | | | 370,365 | |
| Phillips 66 (Oil, Gas & Consumable Fuels) | | | 1,083 | | | | 108,592 | |
| Pinnacle West Capital Corp. (Electric Utilities) | | | 259 | | | | 19,308 | |
| Pioneer Natural Resources Co. (Oil, Gas & Consumable Fuels) | | | 544 | | | | 125,310 | |
| Pool Corp. (Distributors) | | | 90 | | | | 34,705 | |
| PPG Industries, Inc. (Chemicals) | | | 539 | | | | 70,253 | |
| PPL Corp. (Electric Utilities) | | | 1,689 | | | | 49,994 | |
| Principal Financial Group, Inc. (Insurance) | | | 521 | | | | 48,219 | |
| Prologis, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 2,116 | | | | 273,557 | |
| Prudential Financial, Inc. (Insurance) | | | 843 | | | | 88,464 | |
| PTC, Inc.* (Software) | | | 243 | | | | 32,776 | |
| Public Service Enterprise Group, Inc. (Multi-Utilities) | | | 1,143 | | | | 70,786 | |
| Public Storage (Equity Real Estate Investment Trusts (REITs)) | | | 362 | | | | 110,171 | |
| PulteGroup, Inc. (Household Durables) | | | 523 | | | | 29,753 | |
| Qorvo, Inc.* (Semiconductors & Semiconductor Equipment) | | | 232 | | | | 25,209 | |
| Qualcomm, Inc. (Semiconductors & Semiconductor Equipment) | | | 2,570 | | | | 342,350 | |
| Quanta Services, Inc. (Construction & Engineering) | | | 328 | | | | 49,918 | |
| Quest Diagnostics, Inc. (Health Care Providers & Services) | | | 261 | | | | 38,753 | |
| Ralph Lauren Corp. (Textiles, Apparel & Luxury Goods) | | | 94 | | | | 11,642 | |
| Raymond James Financial, Inc. (Capital Markets) | | | 443 | | | | 49,957 | |
| Raytheon Technologies Corp. (Aerospace & Defense) | | | 3,369 | | | | 336,395 | |
| Realty Income Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 1,437 | | | | 97,472 | |
| Regency Centers Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 353 | | | | 23,520 | |
| Regeneron Pharmaceuticals, Inc.* (Biotechnology) | | | 246 | | | | 186,584 | |
| Regions Financial Corp. (Banks) | | | 2,143 | | | | 50,446 | |
| Republic Services, Inc. (Commercial Services & Supplies) | | | 470 | | | | 58,665 | |
| ResMed, Inc. (Health Care Equipment & Supplies) | | | 336 | | | | 76,732 | |
| Robert Half International, Inc. (Professional Services) | | | 249 | | | | 20,906 | |
| Rockwell Automation, Inc. (Electrical Equipment) | | | 263 | | | | 74,174 | |
| Rollins, Inc. (Commercial Services & Supplies) | | | 531 | | | | 19,328 | |
| Roper Technologies, Inc. (Software) | | | 244 | | | | 104,127 | |
| Ross Stores, Inc. (Specialty Retail) | | | 795 | | | | 93,961 | |
See accompanying notes to schedules of portfolio investments.
UltraBull ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Royal Caribbean Cruises, Ltd.* (Hotels, Restaurants & Leisure) | | | 503 | | | $ | 32,665 | |
| S&P Global, Inc. (Capital Markets) | | | 763 | | | | 286,079 | |
| Salesforce, Inc.* (Software) | | | 2,292 | | | | 384,987 | |
| SBA Communications Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 248 | | | | 73,787 | |
| Schlumberger, Ltd. (Energy Equipment & Services) | | | 3,251 | | | | 185,242 | |
| Seagate Technology Holdings PLC (Technology Hardware, Storage & Peripherals) | | | 440 | | | | 29,823 | |
| Sealed Air Corp. (Containers & Packaging) | | | 332 | | | | 18,180 | |
| Sempra Energy (Multi-Utilities) | | | 720 | | | | 115,438 | |
| ServiceNow, Inc.* (Software) | | | 463 | | | | 210,725 | |
| Signature Bank (Banks) | | | 145 | | | | 18,698 | |
| Simon Property Group, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 749 | | | | 96,217 | |
| Skyworks Solutions, Inc. (Semiconductors & Semiconductor Equipment) | | | 367 | | | | 40,249 | |
| Snap-on, Inc. (Machinery) | | | 122 | | | | 30,345 | |
| SolarEdge Technologies, Inc.* (Semiconductors & Semiconductor Equipment) | | | 128 | | | | 40,849 | |
| Southwest Airlines Co. (Airlines) | | | 1,362 | | | | 48,719 | |
| Stanley Black & Decker, Inc. (Machinery) | | | 339 | | | | 30,276 | |
| Starbucks Corp. (Hotels, Restaurants & Leisure) | | | 2,631 | | | | 287,146 | |
| State Street Corp. (Capital Markets) | | | 841 | | | | 76,809 | |
| Steel Dynamics, Inc. (Metals & Mining) | | | 379 | | | | 45,723 | |
| STERIS PLC (Health Care Equipment & Supplies) | | | 229 | | | | 47,291 | |
| Stryker Corp. (Health Care Equipment & Supplies) | | | 772 | | | | 195,941 | |
| SVB Financial Group* (Banks) | | | 135 | | | | 40,829 | |
| Synchrony Financial (Consumer Finance) | | | 1,033 | | | | 37,942 | |
| Synopsys, Inc.* (Software) | | | 351 | | | | 124,166 | |
| Sysco Corp. (Food & Staples Retailing) | | | 1,162 | | | | 90,009 | |
| T. Rowe Price Group, Inc. (Capital Markets) | | | 512 | | | | 59,633 | |
| Take-Two Interactive Software, Inc.* (Entertainment) | | | 361 | | | | 40,876 | |
| Tapestry, Inc. (Textiles, Apparel & Luxury Goods) | | | 553 | | | | 25,200 | |
| Targa Resources Corp. (Oil, Gas & Consumable Fuels) | | | 519 | | | | 38,935 | |
| Target Corp. (Multiline Retail) | | | 1,055 | | | | 181,608 | |
| TE Connectivity, Ltd. (Electronic Equipment, Instruments & Components) | | | 729 | | | | 92,692 | |
| Teledyne Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 107 | | | | 45,396 | |
| Teleflex, Inc. (Health Care Equipment & Supplies) | | | 107 | | | | 26,046 | |
| Teradyne, Inc. (Semiconductors & Semiconductor Equipment) | | | 357 | | | | 36,307 | |
| Tesla, Inc.* (Automobiles) | | | 6,152 | | | | 1,065,649 | |
| Texas Instruments, Inc. (Semiconductors & Semiconductor Equipment) | | | 2,081 | | | | 368,774 | |
| Textron, Inc. (Aerospace & Defense) | | | 479 | | | | 34,895 | |
| The AES Corp. (Independent Power and Renewable Electricity Producers) | | | 1,532 | | | | 41,992 | |
| The Allstate Corp. (Insurance) | | | 608 | | | | 78,110 | |
| The Bank of New York Mellon Corp. (Capital Markets) | | | 1,686 | | | | 85,261 | |
| The Boeing Co.* (Aerospace & Defense) | | | 1,284 | | | | 273,492 | |
| The Charles Schwab Corp. (Capital Markets) | | | 3,496 | | | | 270,660 | |
| The Clorox Co. (Household Products) | | | 283 | | | | 40,947 | |
| The Coca-Cola Co. (Beverages) | | | 8,921 | | | | 547,037 | |
| The Cooper Cos., Inc. (Health Care Equipment & Supplies) | | | 113 | | | | 39,429 | |
| The Estee Lauder Cos., Inc. (Personal Products) | | | 530 | | | | 146,852 | |
| The Goldman Sachs Group, Inc. (Capital Markets) | | | 776 | | | | 283,869 | |
| The Hershey Co. (Food Products) | | | 337 | | | | 75,690 | |
| The Home Depot, Inc. (Specialty Retail) | | | 2,346 | | | | 760,504 | |
| The Interpublic Group of Cos., Inc. (Media) | | | 891 | | | | 32,486 | |
| The JM Smucker Co. - Class A (Food Products) | | | 245 | | | | 37,436 | |
| The Kraft Heinz Co. (Food Products) | | | 1,825 | | | | 73,967 | |
| The Kroger Co. (Food & Staples Retailing) | | | 1,494 | | | | 66,677 | |
| The Mosaic Co. (Chemicals) | | | 781 | | | | 38,691 | |
| The PNC Financial Services Group, Inc. (Banks) | | | 924 | | | | 152,857 | |
| The Procter & Gamble Co. (Household Products) | | | 5,432 | | | | 773,408 | |
| The Progressive Corp. (Insurance) | | | 1,341 | | | | 182,845 | |
| The Sherwin-Williams Co. (Chemicals) | | | 540 | | | | 127,759 | |
| The Southern Co. (Electric Utilities) | | | 2,496 | | | | 168,929 | |
| The TJX Cos., Inc. (Specialty Retail) | | | 2,661 | | | | 217,830 | |
| The Travelers Cos., Inc. (Insurance) | | | 537 | | | | 102,631 | |
| The Walt Disney Co.* (Entertainment) | | | 4,179 | | | | 453,380 | |
| The Williams Cos., Inc. (Oil, Gas & Consumable Fuels) | | | 2,792 | | | | 90,014 | |
| Thermo Fisher Scientific, Inc. (Life Sciences Tools & Services) | | | 899 | | | | 512,726 | |
| T-Mobile U.S., Inc.* (Wireless Telecommunication Services) | | | 1,369 | | | | 204,405 | |
| Tractor Supply Co. (Specialty Retail) | | | 253 | | | | 57,681 | |
| Trane Technologies PLC (Building Products) | | | 528 | | | | 94,575 | |
| TransDigm Group, Inc. (Aerospace & Defense) | | | 119 | | | | 85,412 | |
| Trimble, Inc.* (Electronic Equipment, Instruments & Components) | | | 565 | | | | 32,804 | |
| Truist Financial Corp. (Banks) | | | 3,041 | | | | 150,195 | |
| Tyler Technologies, Inc.* (Software) | | | 96 | | | | 30,986 | |
| Tyson Foods, Inc. - Class A (Food Products) | | | 664 | | | | 43,658 | |
| U.S. Bancorp (Banks) | | | 3,099 | | | | 154,330 | |
| UDR, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 702 | | | | 29,898 | |
| Ulta Beauty, Inc.* (Specialty Retail) | | | 118 | | | | 60,647 | |
| Union Pacific Corp. (Road & Rail) | | | 1,409 | | | | 287,705 | |
| United Airlines Holdings, Inc.* (Airlines) | | | 750 | | | | 36,720 | |
| United Parcel Service, Inc. - Class B (Air Freight & Logistics) | | | 1,673 | | | | 309,889 | |
See accompanying notes to schedules of portfolio investments.
UltraBull ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| United Rentals, Inc.* (Trading Companies & Distributors) | | | 159 | | | $ | 70,112 | |
| UnitedHealth Group, Inc. (Health Care Providers & Services) | | | 2,142 | | | | 1,069,265 | |
| Universal Health Services, Inc. - Class B (Health Care Providers & Services) | | | 147 | | | | 21,787 | |
| Valero Energy Corp. (Oil, Gas & Consumable Fuels) | | | 884 | | | | 123,787 | |
| Ventas, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 916 | | | | 47,458 | |
| VeriSign, Inc.* (IT Services) | | | 211 | | | | 46,009 | |
| Verisk Analytics, Inc. (Professional Services) | | | 358 | | | | 65,081 | |
| Verizon Communications, Inc. (Diversified Telecommunication Services) | | | 9,627 | | | | 400,194 | |
| Vertex Pharmaceuticals, Inc.* (Biotechnology) | | | 588 | | | | 189,983 | |
| VF Corp. (Textiles, Apparel & Luxury Goods) | | | 757 | | | | 23,422 | |
| Viatris, Inc. (Pharmaceuticals) | | | 2,781 | | | | 33,817 | |
| VICI Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 2,208 | | | | 75,469 | |
| Visa, Inc. - Class A (IT Services) | | | 3,748 | | | | 862,828 | |
| Vulcan Materials Co. (Construction Materials) | | | 305 | | | | 55,915 | |
| W.R. Berkley Corp. (Insurance) | | | 468 | | | | 32,826 | |
| W.W. Grainger, Inc. (Trading Companies & Distributors) | | | 103 | | | | 60,716 | |
| Walgreens Boots Alliance, Inc. (Food & Staples Retailing) | | | 1,646 | | | | 60,672 | |
| Walmart, Inc. (Food & Staples Retailing) | | | 3,235 | | | | 465,419 | |
| Warner Bros Discovery, Inc.* (Entertainment) | | | 5,067 | | | | 75,093 | |
| Waste Management, Inc. (Commercial Services & Supplies) | | | 857 | | | | 132,604 | |
| Waters Corp.* (Life Sciences Tools & Services) | | | 136 | | | | 44,687 | |
| WEC Energy Group, Inc. (Multi-Utilities) | | | 723 | | | | 67,955 | |
| Wells Fargo & Co. (Banks) | | | 8,735 | | | | 409,409 | |
| Welltower, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,083 | | | | 81,268 | |
| West Pharmaceutical Services, Inc. (Life Sciences Tools & Services) | | | 170 | | | | 45,152 | |
| Western Digital Corp.* (Technology Hardware, Storage & Peripherals) | | | 729 | | | | 32,040 | |
| Westinghouse Air Brake Technologies Corp. (Machinery) | | | 417 | | | | 43,289 | |
| WestRock Co. (Containers & Packaging) | | | 583 | | | | 22,877 | |
| Weyerhaeuser Co. (Equity Real Estate Investment Trusts (REITs)) | | | 1,688 | | | | 58,118 | |
| Whirlpool Corp. (Household Durables) | | | 125 | | | | 19,449 | |
| Willis Towers Watson PLC (Insurance) | | | 248 | | | | 63,039 | |
| Wynn Resorts, Ltd.* (Hotels, Restaurants & Leisure) | | | 236 | | | | 24,459 | |
| Xcel Energy, Inc. (Electric Utilities) | | | 1,254 | | | | 86,238 | |
| Xylem, Inc. (Machinery) | | | 413 | | | | 42,956 | |
| Yum! Brands, Inc. (Hotels, Restaurants & Leisure) | | | 645 | | | | 84,179 | |
| Zebra Technologies Corp.* (Electronic Equipment, Instruments & Components) | | | 119 | | | | 37,625 | |
| Zimmer Biomet Holdings, Inc. (Health Care Equipment & Supplies) | | | 481 | | | | 61,251 | |
| Zions Bancorp (Banks) | | | 343 | | | | 18,234 | |
| Zoetis, Inc. (Pharmaceuticals) | | | 1,068 | | | | 176,743 | |
| TOTAL COMMON STOCKS | | | | | | | | |
| (Cost $31,743,153) | | | | | | | 78,195,604 | |
Repurchase Agreements(b)(c) (33.1%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%-4.22%, dated 1/31/23, due 2/1/23, total to be received $37,855,427 | | $ | 37,851,000 | | | $ | 37,851,000 | |
| TOTAL REPURCHASE AGREEMENTS | | | | | | | | |
| (Cost $37,851,000) | | | | | | | 37,851,000 | |
Collateral for Securities Loaned(d)(NM)
| | | Shares | | | Value | |
| Invesco Government & Agency Portfolio-Institutional Shares, 4.32%(e) | | | 14,732 | | | $ | 14,732 | |
| TOTAL COLLATERAL FOR SECURITIES LOANED (Cost $14,732) | | | | | | | 14,732 | |
| TOTAL INVESTMENT SECURITIES | | | | | | | | |
| (Cost $69,608,885) - 101.5% | | | | | | | 116,061,336 | |
| Net other assets (liabilities) - (1.5)% | | | | | | | (1,720,738 | ) |
| NET ASSETS - 100.0% | | | | | | $ | 114,340,598 | |
| † | Number of shares is less than 0.50. |
| * | Non-income producing security. |
| (a) | All or part of this security was on loan as of January 31, 2023. The total value of securities on loan as of January 31, 2023 was $14,693. |
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $19,938,000. |
| (d) | Securities were purchased with cash collateral held from securities on loan at January 31, 2023. |
| (e) | Rate periodically changes. Rate disclosed is the daily yield on January 31, 2023. |
| NM | Not meaningful, amount is less than 0.05%. |
See accompanying notes to schedules of portfolio investments.
UltraBull ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Futures Contracts Purchased
| | | Number
of
Contracts | | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini S&P 500 Futures Contracts | | | 21 | | | 3/20/23 | | $ | 4,294,500 | | | $ | 128,007 | |
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 | | 2/27/23 | | | 4.93 | % | | $ | 82,070,111 | | | $ | 86,573 | |
| SPDR S&P 500 ETF | | Goldman Sachs International | | 2/27/23 | | | 4.84 | % | | | 15,107,240 | | | | 21,647 | |
| | | | | | | | | | | $ | 97,177,351 | | | $ | 108,220 | |
| | | | | | | | | | | | | | | | | |
| S&P 500 | | UBS AG | | 2/27/23 | | | 4.83 | % | | $ | 26,335,244 | | | $ | 15,534 | |
| SPDR S&P 500 ETF | | UBS AG | | 2/27/23 | | | 4.43 | % | | | 22,419,185 | | | | 33,132 | |
| | | | | | | | | | | $ | 48,754,429 | | | $ | 48,666 | |
| | | | | | | | | | | $ | 145,931,780 | | | $ | 156,886 | |
| (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, 2023, 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 schedules of portfolio investments.
UltraBull ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
UltraBull ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 1,395,340 | | | | 1.2 | % |
| Air Freight & Logistics | | | 482,731 | | | | 0.4 | % |
| Airlines | | | 181,904 | | | | 0.2 | % |
| Auto Components | | | 95,618 | | | | 0.1 | % |
| Automobiles | | | 1,316,034 | | | | 1.2 | % |
| Banks | | | 3,075,665 | | | | 2.7 | % |
| Beverages | | | 1,383,389 | | | | 1.2 | % |
| Biotechnology | | | 1,791,107 | | | | 1.6 | % |
| Building Products | | | 362,472 | | | | 0.3 | % |
| Capital Markets | | | 2,481,594 | | | | 2.2 | % |
| Chemicals | | | 1,474,462 | | | | 1.3 | % |
| Commercial Services & Supplies | | | 363,936 | | | | 0.3 | % |
| Communications Equipment | | | 672,214 | | | | 0.6 | % |
| Construction & Engineering | | | 49,918 | | | | | NM |
| Construction Materials | | | 107,344 | | | | 0.1 | % |
| Consumer Finance | | | 454,911 | | | | 0.4 | % |
| Containers & Packaging | | | 223,487 | | | | 0.2 | % |
| Distributors | | | 123,225 | | | | 0.1 | % |
| Diversified Financial Services | | | 1,286,578 | | | | 1.1 | % |
| Diversified Telecommunication Services | | | 744,440 | | | | 0.7 | % |
| Electric Utilities | | | 1,484,236 | | | | 1.3 | % |
| Electrical Equipment | | | 438,338 | | | | 0.4 | % |
| Electronic Equipment, Instruments & Components | | | 512,101 | | | | 0.4 | % |
| Energy Equipment & Services | | | 343,937 | | | | 0.3 | % |
| Entertainment | | | 1,159,114 | | | | 1.0 | % |
| Equity Real Estate Investment Trusts (REITs) | | | 2,121,720 | | | | 1.9 | % |
| Food & Staples Retailing | | | 1,201,584 | | | | 1.0 | % |
| Food Products | | | 857,679 | | | | 0.7 | % |
| Gas Utilities | | | 37,730 | | | | | NM |
| Health Care Equipment & Supplies | | | 2,571,376 | | | | 2.2 | % |
| Health Care Providers & Services | | | 2,624,495 | | | | 2.3 | % |
| Hotels, Restaurants & Leisure | | | 1,642,534 | | | | 1.4 | % |
| Household Durables | | | 279,777 | | | | 0.2 | % |
| Household Products | | | 1,102,704 | | | | 1.0 | % |
| Independent Power and Renewable Electricity Producers | | | 41,992 | | | | | NM |
| Industrial Conglomerates | | | 668,596 | | | | 0.6 | % |
| Insurance | | | 1,866,858 | | | | 1.6 | % |
| Interactive Media & Services | | | 3,367,818 | | | | 2.9 | % |
| Internet & Direct Marketing Retail | | | 2,199,278 | | | | 1.9 | % |
| IT Services | | | 3,489,001 | | | | 3.1 | % |
| Leisure Products | | | 17,633 | | | | | NM |
| Life Sciences Tools & Services | | | 1,078,637 | | | | 0.9 | % |
| Machinery | | | 1,456,482 | | | | 1.3 | % |
| Media | | | 648,745 | | | | 0.6 | % |
| Metals & Mining | | | 387,659 | | | | 0.3 | % |
| Multiline Retail | | | 374,916 | | | | 0.3 | % |
| Multi-Utilities | | | 667,633 | | | | 0.6 | % |
| Oil, Gas & Consumable Fuels | | | 3,611,239 | | | | 3.2 | % |
| Personal Products | | | 146,852 | | | | 0.1 | % |
| Pharmaceuticals | | | 3,398,153 | | | | 3.0 | % |
| Professional Services | | | 288,119 | | | | 0.3 | % |
| Real Estate Management & Development | | | 61,909 | | | | 0.1 | % |
| Road & Rail | | | 672,308 | | | | 0.6 | % |
| Semiconductors & Semiconductor Equipment | | | 4,345,541 | | | | 3.8 | % |
| Software | | | 6,545,822 | | | | 5.7 | % |
| Specialty Retail | | | 1,819,567 | | | | 1.6 | % |
| Technology Hardware, Storage & Peripherals | | | 5,147,320 | | | | 4.5 | % |
| Textiles, Apparel & Luxury Goods | | | 427,738 | | | | 0.4 | % |
| Tobacco | | | 555,389 | | | | 0.5 | % |
| Trading Companies & Distributors | | | 197,200 | | | | 0.2 | % |
| Water Utilities | | | 65,100 | | | | 0.1 | % |
| Wireless Telecommunication Services | | | 204,405 | | | | 0.2 | % |
| Other ** | | | 36,144,994 | | | | 31.6 | % |
| Total | | $ | 114,340,598 | | | | 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 schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks (65.7%)
| | | Shares | | | Value | |
| 1-800-Flowers.com, Inc.* - Class A (Internet & Direct Marketing Retail) | | | 424 | | | $ | 4,227 | |
| 1Life Healthcare, Inc.* (Health Care Providers & Services) | | | 2,842 | | | | 45,444 | |
| 1st Source Corp. (Banks) | | | 254 | | | | 12,494 | |
| 1stdibs.com, Inc.* (Internet & Direct Marketing Retail) | | | 374 | | | | 2,270 | |
| 22nd Century Group, Inc.* (Tobacco) | | | 2,553 | | | | 2,808 | |
| 23andMe Holding Co.* - Class A (Life Sciences Tools & Services) | | | 4,071 | | | | 10,178 | |
| 2seventy bio, Inc.* (Biotechnology) | | | 590 | | | | 8,024 | |
| 2U, Inc.* (Diversified Consumer Services) | | | 1,196 | | | | 10,321 | |
| 3D Systems Corp.* (Technology Hardware, Storage & Peripherals) | | | 1,997 | | | | 21,687 | |
| 4D Molecular Therapeutics, Inc.* (Biotechnology) | | | 473 | | | | 9,957 | |
| 5E Advanced Materials, Inc.* (Metals & Mining) | | | 607 | | | | 5,979 | |
| 8x8, Inc.* (Software) | | | 1,755 | | | | 8,266 | |
| 908 Devices, Inc.* (Electronic Equipment, Instruments & Components) | | | 345 | | | | 3,215 | |
| A10 Networks, Inc. (Software) | | | 1,007 | | | | 15,588 | |
| Aadi Bioscience, Inc.* (Pharmaceuticals) | | | 228 | | | | 2,877 | |
| AAON, Inc. (Building Products) | | | 691 | | | | 52,737 | |
| AAR Corp.* (Aerospace & Defense) | | | 533 | | | | 27,418 | |
| Aaron's Co., Inc. (The) (Specialty Retail) | | | 478 | | | | 7,003 | |
| AbCellera Biologics, Inc.* (Life Sciences Tools & Services) | | | 3,264 | | | | 34,370 | |
| Abercrombie & Fitch Co.* (Specialty Retail) | | | 767 | | | | 22,212 | |
| ABM Industries, Inc. (Commercial Services & Supplies) | | | 1,045 | | | | 49,021 | |
| Absci Corp.* (Life Sciences Tools & Services) | | | 832 | | | | 2,612 | |
| Academy Sports & Outdoors, Inc. (Leisure Products) | | | 1,222 | | | | 71,389 | |
| ACADIA Pharmaceuticals, Inc.* (Biotechnology) | | | 1,894 | | | | 36,043 | |
| Acadia Realty Trust (Equity Real Estate Investment Trusts (REITs)) | | | 1,468 | | | | 22,798 | |
| Accel Entertainment, Inc.* (Hotels, Restaurants & Leisure) | | | 880 | | | | 8,114 | |
| ACCO Brands Corp. (Commercial Services & Supplies) | | | 1,450 | | | | 9,208 | |
| Accolade, Inc.* (Health Care Technology) | | | 1,037 | | | | 12,102 | |
| ACI Worldwide, Inc.* (Software) | | | 1,767 | | | | 49,352 | |
| Aclaris Therapeutics, Inc.* (Pharmaceuticals) | | | 1,018 | | | | 17,204 | |
| ACM Research, Inc.* - Class A (Semiconductors & Semiconductor Equipment) | | | 756 | | | | 9,442 | |
| ACNB Corp. (Banks) | | | 131 | | | | 5,155 | |
| Acushnet Holdings Corp. (Leisure Products) | | | 525 | | | | 24,649 | |
| ACV Auctions, Inc.* - Class A (Commercial Services & Supplies) | | | 1,857 | | | | 18,199 | |
| AdaptHealth Corp.* (Health Care Providers & Services) | | | 1,139 | | | | 24,409 | |
| Adaptive Biotechnologies Corp.* (Life Sciences Tools & Services) | | | 1,757 | | | | 16,287 | |
| Addus HomeCare Corp.* (Health Care Providers & Services) | | | 243 | | | | 26,127 | |
| Adeia, Inc. (Software) | | | 1,643 | | | | 17,991 | |
| Adicet Bio, Inc.* (Pharmaceuticals) | | | 478 | | | | 4,374 | |
| Adient PLC* (Auto Components) | | | 1,497 | | | | 67,395 | |
| ADMA Biologics, Inc.* (Biotechnology) | | | 2,930 | | | | 10,812 | |
| Adtalem Global Education, Inc.* (Diversified Consumer Services) | | | 707 | | | | 26,993 | |
| AdTheorent Holding Co., Inc.* (Media) | | | 582 | | | | 1,013 | |
| ADTRAN Holdings, Inc. (Communications Equipment) | | | 1,209 | | | | 22,814 | |
| Advanced Energy Industries, Inc. (Electronic Equipment, Instruments & Components) | | | 592 | | | | 54,902 | |
| AdvanSix, Inc. (Chemicals) | | | 421 | | | | 18,204 | |
| Advantage Solutions, Inc.* (Media) | | | 1,302 | | | | 3,372 | |
| Aemetis, Inc.* (Oil, Gas & Consumable Fuels) | | | 473 | | | | 2,209 | |
| Aerojet Rocketdyne Holdings, Inc.* (Aerospace & Defense) | | | 1,251 | | | | 69,956 | |
| Aerovate Therapeutics, Inc.* (Biotechnology) | | | 145 | | | | 3,313 | |
| AeroVironment, Inc.* (Aerospace & Defense) | | | 388 | | | | 34,520 | |
| AerSale Corp.* (Aerospace & Defense) | | | 328 | | | | 6,104 | |
| Aeva Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 1,529 | | | | 2,584 | |
| AEye, Inc.* (Electronic Equipment, Instruments & Components) | | | 1,612 | | | | 1,008 | |
| AFC Gamma, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 257 | | | | 4,035 | |
| Affimed N.V.* (Biotechnology) | | | 2,295 | | | | 2,961 | |
| Agenus, Inc.* (Biotechnology) | | | 4,802 | | | | 12,533 | |
| Agiliti, Inc.* (Health Care Providers & Services) | | | 439 | | | | 8,100 | |
| Agilysys, Inc.* (Software) | | | 312 | | | | 26,071 | |
| Agios Pharmaceuticals, Inc.* (Biotechnology) | | | 860 | | | | 25,353 | |
| Agree Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 1,380 | | | | 102,988 | |
| Air Transport Services Group, Inc.* (Air Freight & Logistics) | | | 911 | | | | 25,790 | |
| AirSculpt Technologies, Inc. (Health Care Providers & Services) | | | 196 | | | | 1,141 | |
| aka Brands Holding Corp.* (Internet & Direct Marketing Retail) | | | 178 | | | | 271 | |
| Akero Therapeutics, Inc.* (Biotechnology) | | | 550 | | | | 27,225 | |
| Akoustis Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 840 | | | | 3,100 | |
| Akoya Biosciences, Inc.* (Life Sciences Tools & Services) | | | 248 | | | | 2,790 | |
| Alamo Group, Inc. (Machinery) | | | 159 | | | | 24,879 | |
| Alarm.com Holdings, Inc.* (Software) | | | 758 | | | | 40,629 | |
| Albany International Corp. - Class A (Machinery) | | | 492 | | | | 55,178 | |
| Albireo Pharma, Inc.* (Biotechnology) | | | 287 | | | | 12,817 | |
| Alector, Inc.* (Biotechnology) | | | 980 | | | | 8,644 | |
| Alerus Financial Corp. (Diversified Financial Services) | | | 238 | | | | 4,898 | |
| Alexander & Baldwin, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,141 | | | | 22,843 | |
| Alexander's, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 33 | | | | 7,830 | |
See accompanying notes to schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Alico, Inc. (Food Products) | | | 99 | | | $ | 2,624 | |
| Alight, Inc.* - Class A (Professional Services) | | | 5,351 | | | | 50,246 | |
| Alignment Healthcare, Inc.* (Health Care Providers & Services) | | | 1,550 | | | | 19,143 | |
| Alkami Technology, Inc.* (Software) | | | 571 | | | | 9,347 | |
| Alkermes PLC* (Biotechnology) | | | 2,569 | | | | 73,575 | |
| Allbirds, Inc.* - Class A (Textiles, Apparel & Luxury Goods) | | | 1,523 | | | | 4,188 | |
| Allegiant Travel Co.* (Airlines) | | | 248 | | | | 21,335 | |
| ALLETE, Inc. (Electric Utilities) | | | 903 | | | | 55,860 | |
| Allied Motion Technologies, Inc. (Electrical Equipment) | | | 210 | | | | 8,534 | |
| Allogene Therapeutics, Inc.* (Biotechnology) | | | 1,256 | | | | 9,696 | |
| Allovir, Inc.* (Biotechnology) | | | 490 | | | | 2,832 | |
| Alpha & Omega Semiconductor, Ltd.* (Semiconductors & Semiconductor Equipment) | | | 347 | | | | 11,437 | |
| Alpha Metallurgical Resources, Inc. (Metals & Mining) | | | 240 | | | | 38,623 | |
| Alpha Teknova, Inc.* (Biotechnology) | | | 100 | | | | 596 | |
| Alphatec Holdings, Inc.* (Health Care Equipment & Supplies) | | | 1,142 | | | | 14,869 | |
| Alpine Immune Sciences, Inc.* (Biotechnology) | | | 357 | | | | 2,999 | |
| Alta Equipment Group, Inc. (Trading Companies & Distributors) | | | 327 | | | | 5,543 | |
| Altair Engineering, Inc.* - Class A (Software) | | | 819 | | | | 43,489 | |
| Alto Ingredients, Inc.* (Oil, Gas & Consumable Fuels) | | | 1,140 | | | | 3,865 | |
| Altra Industrial Motion Corp. (Machinery) | | | 1,024 | | | | 62,536 | |
| Altus Power, Inc.* (Independent Power and Renewable Electricity Producers) | | | 683 | | | | 5,478 | |
| ALX Oncology Holdings, Inc.* (Biotechnology) | | | 338 | | | | 3,143 | |
| Amalgamated Financial Corp. (Banks) | | | 279 | | | | 6,403 | |
| A-Mark Precious Metals, Inc. (Diversified Financial Services) | | | 289 | | | | 11,127 | |
| Ambac Financial Group, Inc.* (Insurance) | | | 698 | | | | 11,629 | |
| Ambarella, Inc.* (Semiconductors & Semiconductor Equipment) | | | 574 | | | | 51,568 | |
| AMC Networks, Inc.* - Class A (Media) | | | 477 | | | | 8,829 | |
| Amerant Bancorp, Inc. (Banks) | | | 437 | | | | 12,166 | |
| Ameresco, Inc.* - Class A (Construction & Engineering) | | | 501 | | | | 32,299 | |
| American Assets Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 778 | | | | 22,142 | |
| American Axle & Manufacturing Holdings, Inc.* (Auto Components) | | | 1,781 | | | | 15,797 | |
| American Eagle Outfitters, Inc. (Specialty Retail) | | | 2,431 | | | | 39,236 | |
| American Equity Investment Life Holding Co. (Insurance) | | | 1,194 | | | | 56,894 | |
| American National Bankshares, Inc. (Banks) | | | 163 | | | | 5,641 | |
| American Public Education, Inc.* (Diversified Consumer Services) | | | 295 | | | | 3,572 | |
| American Realty Investors, Inc.* (Real Estate Management & Development) | | | 23 | | | | 630 | |
| American Software, Inc. - Class A (Software) | | | 496 | | | | 7,544 | |
| American States Water Co. (Water Utilities) | | | 581 | | | | 54,713 | |
| American Vanguard Corp. (Chemicals) | | | 442 | | | | 9,985 | |
| American Well Corp.* - Class A (Health Care Technology) | | | 3,616 | | | | 14,356 | |
| American Woodmark Corp.* (Building Products) | | | 260 | | | | 14,895 | |
| America's Car-Mart, Inc.* (Specialty Retail) | | | 93 | | | | 8,011 | |
| Ameris Bancorp (Banks) | | | 1,043 | | | | 49,188 | |
| AMERISAFE, Inc. (Insurance) | | | 301 | | | | 16,579 | |
| Amicus Therapeutics, Inc.* (Biotechnology) | | | 4,346 | | | | 56,672 | |
| Amkor Technology, Inc. (Semiconductors & Semiconductor Equipment) | | | 1,600 | | | | 46,816 | |
| AMMO, Inc.* (Leisure Products) | | | 1,396 | | | | 3,462 | |
| AMN Healthcare Services, Inc.* (Health Care Providers & Services) | | | 682 | | | | 65,363 | |
| Amneal Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 1,625 | | | | 3,575 | |
| Amphastar Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 603 | | | | 18,247 | |
| Amplify Energy Corp.* (Oil, Gas & Consumable Fuels) | | | 562 | | | | 4,867 | |
| Amplitude, Inc.* - Class A (Software) | | | 881 | | | | 12,669 | |
| Amylyx Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 794 | | | | 31,117 | |
| Amyris, Inc.* (Oil, Gas & Consumable Fuels) | | | 3,158 | | | | 5,021 | |
| AN2 Therapeutics, Inc.* (Pharmaceuticals) | | | 175 | | | | 2,128 | |
| AnaptysBio, Inc.* (Biotechnology) | | | 319 | | | | 7,940 | |
| Anavex Life Sciences Corp.* (Biotechnology) | | | 1,090 | | | | 11,848 | |
| Angel Oak Mortgage, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 188 | | | | 1,487 | |
| AngioDynamics, Inc.* (Health Care Equipment & Supplies) | | | 587 | | | | 7,643 | |
| ANI Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 201 | | | | 8,991 | |
| Anika Therapeutics, Inc.* (Health Care Equipment & Supplies) | | | 230 | | | | 7,132 | |
| Anterix, Inc.* (Diversified Telecommunication Services) | | | 290 | | | | 10,460 | |
| Apartment Investment and Management Co. (Equity Real Estate Investment Trusts (REITs)) | | | 2,361 | | | | 17,731 | |
| Apellis Pharmaceuticals, Inc.* (Biotechnology) | | | 1,478 | | | | 77,934 | |
| API Group Corp.* (Construction & Engineering) | | | 3,261 | | | | 72,525 | |
| Apogee Enterprises, Inc. (Building Products) | | | 351 | | | | 16,441 | |
| Apollo Commercial Real Estate Finance, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 2,217 | | | | 26,981 | |
| Apollo Medical Holdings, Inc.* (Health Care Providers & Services) | | | 614 | | | | 21,883 | |
| Appfolio, Inc.* (Software) | | | 305 | | | | 34,261 | |
| AppHarvest, Inc.* (Food Products) | | | 1,195 | | | | 2,916 | |
| Appian Corp.* (Software) | | | 631 | | | | 26,101 | |
See accompanying notes to schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Apple Hospitality REIT, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 3,391 | | | $ | 60,122 | |
| Applied Digital Corp.* (Software) | | | 1,067 | | | | 3,308 | |
| Applied Industrial Technologies, Inc. (Trading Companies & Distributors) | | | 603 | | | | 86,355 | |
| Arbor Realty Trust, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 2,603 | | | | 38,863 | |
| Arbutus Biopharma Corp.* (Biotechnology) | | | 1,792 | | | | 5,394 | |
| ArcBest Corp. (Road & Rail) | | | 386 | | | | 32,212 | |
| Arcellx, Inc.* (Biotechnology) | | | 466 | | | | 15,569 | |
| Arch Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 233 | | | | 34,489 | |
| Archer Aviation, Inc.* - Class A (Aerospace & Defense) | | | 2,287 | | | | 6,632 | |
| Archrock, Inc. (Energy Equipment & Services) | | | 2,134 | | | | 21,148 | |
| Arconic Corp.* (Metals & Mining) | | | 1,600 | | | | 37,616 | |
| Arcosa, Inc. (Construction & Engineering) | | | 763 | | | | 45,223 | |
| Arcturus Therapeutics Holdings, Inc.* (Biotechnology) | | | 364 | | | | 7,691 | |
| Arcus Biosciences, Inc.* (Biotechnology) | | | 809 | | | | 17,499 | |
| Arcutis Biotherapeutics, Inc.* (Biotechnology) | | | 654 | | | | 10,837 | |
| Ardmore Shipping Corp.* (Oil, Gas & Consumable Fuels) | | | 644 | | | | 9,435 | |
| Ares Commercial Real Estate Corp. (Mortgage Real Estate Investment Trusts (REITs)) | | | 809 | | | | 9,935 | |
| Argan, Inc. (Construction & Engineering) | | | 207 | | | | 8,071 | |
| Argo Group International Holdings, Ltd. (Insurance) | | | 500 | | | | 13,880 | |
| Aris Water Solution, Inc. - Class A (Commercial Services & Supplies) | | | 347 | | | | 5,375 | |
| Arko Corp. (Specialty Retail) | | | 1,314 | | | | 11,024 | |
| Arlo Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 1,369 | | | | 5,134 | |
| Armada Hoffler Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,058 | | | | 13,415 | |
| ARMOUR Residential REIT, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 2,074 | | | | 13,025 | |
| Array Technologies, Inc.* (Electrical Equipment) | | | 2,376 | | | | 52,818 | |
| Arrow Financial Corp. (Banks) | | | 223 | | | | 7,339 | |
| Arrowhead Pharmaceuticals, Inc.* (Biotechnology) | | | 1,622 | | | | 56,754 | |
| Arteris, Inc.* (Software) | | | 281 | | | | 1,765 | |
| Artesian Resources Corp. - Class A (Water Utilities) | | | 130 | | | | 7,657 | |
| Artisan Partners Asset Management, Inc. (Capital Markets) | | | 947 | | | | 34,869 | |
| Artivion, Inc.* (Health Care Equipment & Supplies) | | | 614 | | | | 8,007 | |
| Arvinas, Inc.* (Pharmaceuticals) | | | 766 | | | | 25,102 | |
| Asana, Inc.* - Class A (Software) | | | 1,160 | | | | 17,980 | |
| Asbury Automotive Group, Inc.* (Specialty Retail) | | | 350 | | | | 77,000 | |
| ASGN, Inc.* (Professional Services) | | | 773 | | | | 70,304 | |
| Ashford Hospitality Trust, Inc.* (Equity Real Estate Investment Trusts (REITs)) | | | 542 | | | | 3,734 | |
| Aspen Aerogels, Inc.* (Chemicals) | | | 490 | | | | 5,145 | |
| Assetmark Financial Holdings, Inc.* (Capital Markets) | | | 340 | | | | 9,024 | |
| Associated Banc-Corp. (Banks) | | | 2,352 | | | | 52,708 | |
| Associated Capital Group, Inc. - Class A (Capital Markets) | | | 27 | | | | 1,027 | |
| Astec Industries, Inc. (Machinery) | | | 360 | | | | 15,890 | |
| Astra Space, Inc.* (Aerospace & Defense) | | | 2,437 | | | | 1,549 | |
| Astronics Corp.* (Aerospace & Defense) | | | 399 | | | | 5,925 | |
| Atara Biotherapeutics, Inc.* (Biotechnology) | | | 1,463 | | | | 7,417 | |
| Atea Pharmaceuticals, Inc.* (Biotechnology) | | | 1,203 | | | | 5,570 | |
| Aterian, Inc.* (Household Durables) | | | 1,041 | | | | 1,593 | |
| Athira Pharma, Inc.* (Pharmaceuticals) | | | 537 | | | | 2,169 | |
| ATI Physical Therapy, Inc.* (Health Care Providers & Services) | | | 1,181 | | | | 520 | |
| ATI, Inc.* (Metals & Mining) | | | 1,956 | | | | 71,179 | |
| Atkore, Inc.* (Electrical Equipment) | | | 650 | | | | 84,662 | |
| Atlantic Union Bankshares (Banks) | | | 1,181 | | | | 45,693 | |
| Atlanticus Holdings Corp.* (Consumer Finance) | | | 66 | | | | 2,145 | |
| Atlas Air Worldwide Holdings, Inc.* (Air Freight & Logistics) | | | 442 | | | | 45,177 | |
| Atlas Technical Consultants, Inc.* (Professional Services) | | | 302 | | | | 3,663 | |
| ATN International, Inc. (Diversified Telecommunication Services) | | | 172 | | | | 8,407 | |
| Atomera, Inc.* (Semiconductors & Semiconductor Equipment) | | | 325 | | | | 2,373 | |
| AtriCure, Inc.* (Health Care Equipment & Supplies) | | | 719 | | | | 31,118 | |
| Atrion Corp. (Health Care Equipment & Supplies) | | | 21 | | | | 14,433 | |
| Aura Biosciences, Inc.* (Biotechnology) | | | 289 | | | | 3,008 | |
| Aurinia Pharmaceuticals, Inc.* (Biotechnology) | | | 2,115 | | | | 19,141 | |
| Avanos Medical, Inc.* (Health Care Equipment & Supplies) | | | 730 | | | | 22,367 | |
| Avantax, Inc.* (Capital Markets) | | | 751 | | | | 21,884 | |
| Avaya Holdings Corp.* - Class C (Software) | | | 1,347 | | | | 481 | |
| Aveanna Healthcare Holdings, Inc.* (Health Care Providers & Services) | | | 703 | | | | 858 | |
| AvePoint, Inc.* (Software) | | | 2,062 | | | | 9,217 | |
| Aviat Networks, Inc.* (Communications Equipment) | | | 177 | | | | 5,726 | |
| Avid Bioservices, Inc.* (Biotechnology) | | | 962 | | | | 15,228 | |
| Avid Technology, Inc.* (Technology Hardware, Storage & Peripherals) | | | 548 | | | | 16,610 | |
| Avidity Biosciences, Inc.* (Biotechnology) | | | 843 | | | | 19,979 | |
| AvidXchange Holdings, Inc.* (Software) | | | 2,311 | | | | 25,698 | |
| Avient Corp. (Chemicals) | | | 1,435 | | | | 58,146 | |
| Avista Corp. (Multi-Utilities) | | | 1,163 | | | | 46,404 | |
| Axcelis Technologies, Inc.* (Semiconductors & Semiconductor Equipment) | | | 515 | | | | 56,624 | |
| AxoGen, Inc.* (Health Care Equipment & Supplies) | | | 639 | | | | 6,051 | |
| Axonics, Inc.* (Health Care Equipment & Supplies) | | | 772 | | | | 47,401 | |
| Axos Financial, Inc.* (Thrifts & Mortgage Finance) | | | 903 | | | | 43,452 | |
See accompanying notes to schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Axsome Therapeutics, Inc.* (Pharmaceuticals) | | | 505 | | | $ | 37,875 | |
| AXT, Inc.* (Semiconductors & Semiconductor Equipment) | | | 649 | | | | 3,823 | |
| AZZ, Inc. (Electrical Equipment) | | | 387 | | | | 16,440 | |
| B Riley Financial, Inc. (Capital Markets) | | | 328 | | | | 14,015 | |
| B&G Foods, Inc. (Food Products) | | | 1,115 | | | | 15,632 | |
| Babcock & Wilcox Enterprises, Inc.* (Electrical Equipment) | | | 959 | | | | 6,368 | |
| Babylon Holdings, Ltd.* - Class A (Health Care Technology) | | | 69 | | | | 799 | |
| Badger Meter, Inc. (Electronic Equipment, Instruments & Components) | | | 461 | | | | 53,430 | |
| Bakkt Holdings, Inc.* (Capital Markets) | | | 923 | | | | 1,449 | |
| Balchem Corp. (Chemicals) | | | 502 | | | | 65,576 | |
| Bally's Corp.* (Hotels, Restaurants & Leisure) | | | 566 | | | | 11,246 | |
| Banc of California, Inc. (Banks) | | | 830 | | | | 14,459 | |
| BancFirst Corp. (Banks) | | | 310 | | | | 26,700 | |
| Banco Latinoamericano de Comercio Exterior S.A. - Class E (Diversified Financial Services) | | | 434 | | | | 7,478 | |
| Bandwidth, Inc.* (Diversified Telecommunication Services) | | | 365 | | | | 9,081 | |
| Bank First Corp. (Banks) | | | 122 | | | | 9,743 | |
| Bank of Marin Bancorp (Banks) | | | 247 | | | | 7,526 | |
| BankUnited, Inc. (Banks) | | | 1,227 | | | | 46,184 | |
| Bankwell Financial Group, Inc. (Banks) | | | 90 | | | | 2,661 | |
| Banner Corp. (Banks) | | | 539 | | | | 34,943 | |
| Bar Harbor Bankshares (Banks) | | | 233 | | | | 7,239 | |
| BARK, Inc.* (Internet & Direct Marketing Retail) | | | 1,884 | | | | 3,787 | |
| Barnes Group, Inc. (Machinery) | | | 771 | | | | 34,124 | |
| Barrett Business Services, Inc. (Professional Services) | | | 108 | | | | 10,733 | |
| Battalion Oil Corp.* (Oil, Gas & Consumable Fuels) | | | 40 | | | | 413 | |
| BayCom Corp. (Banks) | | | 193 | | | | 3,881 | |
| BCB Bancorp, Inc. (Banks) | | | 227 | | | | 4,084 | |
| Beacon Roofing Supply, Inc.* (Trading Companies & Distributors) | | | 810 | | | | 46,073 | |
| Beam Therapeutics, Inc.* (Biotechnology) | | | 1,002 | | | | 43,537 | |
| Beazer Homes USA, Inc.* (Household Durables) | | | 461 | | | | 7,547 | |
| Bed Bath & Beyond, Inc.* (Specialty Retail) | | | 1,213 | | | | 3,421 | |
| Belden, Inc. (Electronic Equipment, Instruments & Components) | | | 669 | | | | 54,249 | |
| BellRing Brands, Inc.* (Personal Products) | | | 2,078 | | | | 58,933 | |
| Benchmark Electronics, Inc. (Electronic Equipment, Instruments & Components) | | | 551 | | | | 15,422 | |
| Benson Hill, Inc.* (Software) | | | 2,700 | | | | 7,236 | |
| Berkeley Lights, Inc.* (Life Sciences Tools & Services) | | | 892 | | | | 1,918 | |
| Berkshire Grey, Inc.* (Machinery) | | | 781 | | | | 883 | |
| Berkshire Hills Bancorp, Inc. (Banks) | | | 684 | | | | 21,238 | |
| Berry Corp. (Oil, Gas & Consumable Fuels) | | | 1,201 | | | | 11,049 | |
| Beyond Meat, Inc.* (Food Products) | | | 968 | | | | 15,904 | |
| BGC Partners, Inc. - Class A (Capital Markets) | | | 4,970 | | | | 21,620 | |
| Big 5 Sporting Goods Corp. (Specialty Retail) | | | 338 | | | | 3,377 | |
| Big Lots, Inc. (Multiline Retail) | | | 448 | | | | 7,329 | |
| BigCommerce Holdings, Inc.* - Class 1 (IT Services) | | | 1,025 | | | | 12,567 | |
| Biglari Holdings, Inc.* - Class B (Hotels, Restaurants & Leisure) | | | 12 | | | | 1,957 | |
| BioCryst Pharmaceuticals, Inc.* (Biotechnology) | | | 2,923 | | | | 30,838 | |
| Biohaven, Ltd.* (Biotechnology) | | | 996 | | | | 19,014 | |
| BioLife Solutions, Inc.* (Health Care Equipment & Supplies) | | | 531 | | | | 12,447 | |
| Bionano Genomics, Inc.* (Life Sciences Tools & Services) | | | 4,717 | | | | 8,538 | |
| Bioventus, Inc.* - Class A (Health Care Equipment & Supplies) | | | 505 | | | | 990 | |
| Bioxcel Therapeutics, Inc.* (Biotechnology) | | | 301 | | | | 8,585 | |
| Bird Global, Inc.* - Class A (Road & Rail) | | | 2,773 | | | | 651 | |
| BJ's Restaurants, Inc.* (Hotels, Restaurants & Leisure) | | | 357 | | | | 11,270 | |
| Black Hills Corp. (Multi-Utilities) | | | 1,024 | | | | 74,116 | |
| Blackbaud, Inc.* (Software) | | | 732 | | | | 45,538 | |
| Blackline, Inc.* (Software) | | | 870 | | | | 62,466 | |
| Blackstone Mortgage Trust, Inc. - Class A (Mortgage Real Estate Investment Trusts (REITs)) | | | 2,684 | | | | 63,986 | |
| Blade Air Mobility, Inc.* (Airlines) | | | 896 | | | | 3,996 | |
| Blend Labs, Inc.* - Class A (Software) | | | 2,985 | | | | 4,955 | |
| Blink Charging Co.* (Electrical Equipment) | | | 565 | | | | 7,690 | |
| Bloom Energy Corp.* (Electrical Equipment) | | | 2,836 | | | | 70,700 | |
| Bloomin' Brands, Inc. (Hotels, Restaurants & Leisure) | | | 1,377 | | | | 33,392 | |
| Blue Bird Corp.* (Machinery) | | | 275 | | | | 3,988 | |
| Blue Foundry Bancorp* (Thrifts & Mortgage Finance) | | | 404 | | | | 4,800 | |
| Blue Ridge Bankshares, Inc. (Banks) | | | 269 | | | | 3,406 | |
| Bluebird Bio, Inc.* (Biotechnology) | | | 1,309 | | | | 8,312 | |
| Bluegreen Vacations Holding Corp. (Hotels, Restaurants & Leisure) | | | 186 | | | | 6,034 | |
| BlueLinx Holdings, Inc.* (Trading Companies & Distributors) | | | 138 | | | | 11,981 | |
| Blueprint Medicines Corp.* (Biotechnology) | | | 941 | | | | 43,982 | |
| Bluerock Homes Trust, Inc.* (Equity Real Estate Investment Trusts (REITs)) | | | 60 | | | | 1,299 | |
| Boise Cascade Co. (Trading Companies & Distributors) | | | 622 | | | | 46,631 | |
| Boot Barn Holdings, Inc.* (Specialty Retail) | | | 465 | | | | 38,823 | |
| Borr Drilling, Ltd.* (Energy Equipment & Services) | | | 3,176 | | | | 18,897 | |
| Boston Omaha Corp.* - Class A (Media) | | | 345 | | | | 9,125 | |
| Bowlero Corp.* (Hotels, Restaurants & Leisure) | | | 465 | | | | 6,394 | |
| Box, Inc.* - Class A (Software) | | | 2,204 | | | | 70,506 | |
| Boxed, Inc.* (Internet & Direct Marketing Retail) | | | 908 | | | | 486 | |
| Brady Corp. - Class A (Commercial Services & Supplies) | | | 720 | | | | 38,498 | |
| Braemar Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,080 | | | | 5,724 | |
| Brandywine Realty Trust (Equity Real Estate Investment Trusts (REITs)) | | | 2,676 | | | | 17,555 | |
See accompanying notes to schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| BRC, Inc.* - Class A (Food Products) | | | 427 | | | $ | 2,818 | |
| Bread Financial Holdings, Inc. (IT Services) | | | 789 | | | | 32,373 | |
| Bridgebio Pharma, Inc.* (Biotechnology) | | | 1,669 | | | | 15,488 | |
| Bridgewater Bancshares, Inc.* (Thrifts & Mortgage Finance) | | | 320 | | | | 4,979 | |
| Bright Health Group, Inc.* (Insurance) | | | 3,044 | | | | 2,699 | |
| Brightcove, Inc.* (IT Services) | | | 658 | | | | 4,172 | |
| Brightsphere Investment Group, Inc. (Capital Markets) | | | 509 | | | | 11,936 | |
| BrightSpire Capital, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 1,478 | | | | 11,262 | |
| BrightView Holdings, Inc.* (Commercial Services & Supplies) | | | 700 | | | | 5,565 | |
| Brinker International, Inc.* (Hotels, Restaurants & Leisure) | | | 685 | | | | 27,030 | |
| Bristow Group, Inc.* (Energy Equipment & Services) | | | 368 | | | | 11,239 | |
| Broadmark Realty Capital, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 2,053 | | | | 8,992 | |
| Broadstone Net Lease, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 2,728 | | | | 49,404 | |
| Brookdale Senior Living, Inc.* (Health Care Providers & Services) | | | 2,933 | | | | 8,447 | |
| Brookfield Business Corp. - Class A (Industrial Conglomerates) | | | 410 | | | | 9,287 | |
| Brookfield Infrastructure Corp. - Class A (Gas Utilities) | | | 1,544 | | | | 68,276 | |
| Brookline Bancorp, Inc. (Banks) | | | 1,185 | | | | 15,500 | |
| BRP Group, Inc.* - Class A (Insurance) | | | 958 | | | | 27,447 | |
| BRT Apartments Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 189 | | | | 3,960 | |
| Build-A-Bear Workshop, Inc.* (Specialty Retail) | | | 213 | | | | 5,231 | |
| Bumble, Inc.* - Class A (Interactive Media & Services) | | | 1,360 | | | | 35,020 | |
| Business First Bancshares, Inc. (Banks) | | | 371 | | | | 7,695 | |
| Butterfly Network, Inc.* (Health Care Equipment & Supplies) | | | 2,096 | | | | 5,764 | |
| Byline Bancorp, Inc. (Banks) | | | 387 | | | | 9,598 | |
| C3.ai, Inc.* - Class A (Software) | | | 923 | | | | 18,322 | |
| C4 Therapeutics, Inc.* (Biotechnology) | | | 663 | | | | 5,165 | |
| Cabot Corp. (Chemicals) | | | 877 | | | | 66,064 | |
| Cactus, Inc. - Class A (Energy Equipment & Services) | | | 929 | | | | 50,268 | |
| Cadence Bank (Banks) | | | 2,859 | | | | 73,133 | |
| Cadre Holdings, Inc. (Aerospace & Defense) | | | 300 | | | | 6,867 | |
| Caesarstone, Ltd. (Building Products) | | | 357 | | | | 2,228 | |
| Calavo Growers, Inc. (Food Products) | | | 272 | | | | 8,718 | |
| Caleres, Inc. (Specialty Retail) | | | 556 | | | | 14,467 | |
| California Resources Corp. (Oil, Gas & Consumable Fuels) | | | 1,167 | | | | 49,866 | |
| California Water Service Group (Water Utilities) | | | 855 | | | | 52,300 | |
| Calix, Inc.* (Communications Equipment) | | | 906 | | | | 47,691 | |
| Callon Petroleum Co.* (Oil, Gas & Consumable Fuels) | | | 775 | | | | 32,976 | |
| Cal-Maine Foods, Inc. (Food Products) | | | 597 | | | | 34,160 | |
| Cambium Networks Corp.* (Communications Equipment) | | | 182 | | | | 3,900 | |
| Cambridge Bancorp (Banks) | | | 108 | | | | 8,640 | |
| Camden National Corp. (Banks) | | | 227 | | | | 9,586 | |
| Camping World Holdings, Inc. - Class A (Specialty Retail) | | | 613 | | | | 15,576 | |
| Cannae Holdings, Inc.* (Diversified Financial Services) | | | 1,094 | | | | 26,737 | |
| Cano Health, Inc.* (Health Care Providers & Services) | | | 2,553 | | | | 3,523 | |
| Canoo, Inc.* (Automobiles) | | | 2,647 | | | | 3,176 | |
| Cantaloupe, Inc.* (IT Services) | | | 921 | | | | 4,688 | |
| Capital Bancorp, Inc. (Banks) | | | 141 | | | | 3,032 | |
| Capital City Bank Group, Inc. (Banks) | | | 213 | | | | 6,916 | |
| Capitol Federal Financial, Inc. (Thrifts & Mortgage Finance) | | | 2,050 | | | | 17,159 | |
| Capstar Financial Holdings, Inc. (Banks) | | | 320 | | | | 5,571 | |
| Cara Therapeutics, Inc.* (Biotechnology) | | | 706 | | | | 8,246 | |
| Cardiovascular Systems, Inc.* (Health Care Equipment & Supplies) | | | 643 | | | | 8,963 | |
| Cardlytics, Inc.* (Media) | | | 505 | | | | 3,788 | |
| CareDx, Inc.* (Biotechnology) | | | 802 | | | | 11,982 | |
| CareMax, Inc.* (Health Care Providers & Services) | | | 922 | | | | 4,324 | |
| CareTrust REIT, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,523 | | | | 31,557 | |
| Cargurus, Inc.* (Interactive Media & Services) | | | 1,608 | | | | 28,381 | |
| Caribou Biosciences, Inc.* (Biotechnology) | | | 884 | | | | 6,374 | |
| CarParts.com, Inc.* (Internet & Direct Marketing Retail) | | | 801 | | | | 5,463 | |
| Carpenter Technology Corp. (Metals & Mining) | | | 753 | | | | 36,362 | |
| Carriage Services, Inc. (Diversified Consumer Services) | | | 209 | | | | 6,776 | |
| Cars.com, Inc.* (Interactive Media & Services) | | | 1,043 | | | | 17,835 | |
| Carter Bankshares, Inc.* (Banks) | | | 376 | | | | 6,249 | |
| Casa Systems, Inc.* (Communications Equipment) | | | 559 | | | | 1,912 | |
| Casella Waste Systems, Inc.* - Class A (Commercial Services & Supplies) | | | 786 | | | | 62,974 | |
| Cass Information Systems, Inc. (IT Services) | | | 212 | | | | 10,295 | |
| Cassava Sciences, Inc.* (Pharmaceuticals) | | | 602 | | | | 16,856 | |
| Castle Biosciences, Inc.* (Biotechnology) | | | 387 | | | | 10,480 | |
| Catalyst Pharmaceuticals, Inc.* (Biotechnology) | | | 1,529 | | | | 23,684 | |
| Cathay General Bancorp (Banks) | | | 1,135 | | | | 49,895 | |
| Cavco Industries, Inc.* (Household Durables) | | | 141 | | | | 37,520 | |
| CBIZ, Inc.* (Professional Services) | | | 756 | | | | 35,978 | |
| CBL & Associates Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 420 | | | | 11,193 | |
| Celldex Therapeutics, Inc.* (Biotechnology) | | | 723 | | | | 31,855 | |
| Celsius Holdings, Inc.* (Beverages) | | | 876 | | | | 87,881 | |
| Celularity, Inc.* (Biotechnology) | | | 1,002 | | | | 842 | |
| Cenntro Electric Group, Ltd.* (Automobiles) | | | 2,903 | | | | 2,214 | |
| Centerspace (Equity Real Estate Investment Trusts (REITs)) | | | 238 | | | | 16,094 | |
See accompanying notes to schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Central Garden & Pet Co.* (Household Products) | | | 156 | | | $ | 6,543 | |
| Central Garden & Pet Co.* - Class A (Household Products) | | | 633 | | | | 25,086 | |
| Central Pacific Financial Corp. (Banks) | | | 421 | | | | 9,515 | |
| Centrus Energy Corp.* - Class A (Oil, Gas & Consumable Fuels) | | | 168 | | | | 6,896 | |
| Century Aluminum Co.* (Metals & Mining) | | | 819 | | | | 9,206 | |
| Century Casinos, Inc.* (Hotels, Restaurants & Leisure) | | | 429 | | | | 3,784 | |
| Century Communities, Inc. (Household Durables) | | | 445 | | | | 27,234 | |
| Century Therapeutics, Inc.* (Biotechnology) | | | 318 | | | | 1,453 | |
| Cepton, Inc.* (Electronic Equipment, Instruments & Components) | | | 746 | | | | 903 | |
| Cerberus Cyber Sentinel Corp.* (IT Services) | | | 731 | | | | 1,045 | |
| Cerence, Inc.* (Software) | | | 619 | | | | 15,178 | |
| Cerevel Therapeutics Holdings, Inc.* (Biotechnology) | | | 903 | | | | 30,837 | |
| Cerus Corp.* (Health Care Equipment & Supplies) | | | 2,720 | | | | 8,541 | |
| CEVA, Inc.* (Semiconductors & Semiconductor Equipment) | | | 361 | | | | 11,956 | |
| ChampionX Corp. (Energy Equipment & Services) | | | 3,157 | | | | 104,243 | |
| Charge Enterprises, Inc.* (Diversified Telecommunication Services) | | | 2,052 | | | | 2,750 | |
| Chart Industries, Inc.* (Machinery) | | | 673 | | | | 90,168 | |
| Chase Corp. (Chemicals) | | | 119 | | | | 11,231 | |
| Chatham Lodging Trust (Equity Real Estate Investment Trusts (REITs)) | | | 756 | | | | 10,743 | |
| Chegg, Inc.* (Diversified Consumer Services) | | | 1,960 | | | | 40,689 | |
| Chesapeake Utilities Corp. (Gas Utilities) | | | 274 | | | | 34,546 | |
| Chicago Atlantic Real Estate Finance, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 86 | | | | 1,329 | |
| Chico's FAS, Inc.* (Specialty Retail) | | | 1,930 | | | | 10,171 | |
| Chimera Investment Corp. (Mortgage Real Estate Investment Trusts (REITs)) | | | 3,666 | | | | 26,725 | |
| Chimerix, Inc.* (Biotechnology) | | | 1,329 | | | | 2,352 | |
| Chinook Therapeutics, Inc.* (Biotechnology) | | | 799 | | | | 20,191 | |
| Chord Energy Corp. (Oil, Gas & Consumable Fuels) | | | 654 | | | | 93,738 | |
| Chuy's Holdings, Inc.* (Hotels, Restaurants & Leisure) | | | 282 | | | | 9,653 | |
| Cimpress PLC* (Commercial Services & Supplies) | | | 278 | | | | 9,088 | |
| CinCor Pharma, Inc.* (Pharmaceuticals) | | | 392 | | | | 11,341 | |
| Cinemark Holdings, Inc.* (Entertainment) | | | 1,718 | | | | 20,513 | |
| Cipher Mining, Inc.* (Software) | | | 617 | | | | 740 | |
| CIRCOR International, Inc.* (Machinery) | | | 291 | | | | 8,046 | |
| Citi Trends, Inc.* (Specialty Retail) | | | 127 | | | | 3,998 | |
| Citizens & Northern Corp. (Banks) | | | 238 | | | | 5,631 | |
| City Holding Co. (Banks) | | | 233 | | | | 22,086 | |
| City Office REIT, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 614 | | | | 6,042 | |
| Civista Bancshares, Inc. (Banks) | | | 243 | | | | 5,273 | |
| Civitas Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 1,163 | | | | 77,398 | |
| Claros Mortgage Trust, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 1,450 | | | | 24,273 | |
| Clarus Corp. (Leisure Products) | | | 454 | | | | 4,563 | |
| Clean Energy Fuels Corp.* (Oil, Gas & Consumable Fuels) | | | 2,672 | | | | 15,124 | |
| Cleanspark, Inc.* (Software) | | | 721 | | | | 2,286 | |
| Clear Channel Outdoor Holdings, Inc.* (Media) | | | 5,814 | | | | 11,105 | |
| Clear Secure, Inc. - Class A (Software) | | | 981 | | | | 30,794 | |
| Clearfield, Inc.* (Communications Equipment) | | | 182 | | | | 13,006 | |
| Clearwater Paper Corp.* (Paper & Forest Products) | | | 264 | | | | 10,193 | |
| Clearway Energy, Inc. - Class A (Independent Power and Renewable Electricity Producers) | | | 549 | | | | 17,595 | |
| Clearway Energy, Inc. - Class C (Independent Power and Renewable Electricity Producers) | | | 1,293 | | | | 43,690 | |
| Clipper Realty, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 189 | | | | 1,331 | |
| Clover Health Investments Corp.* (Health Care Providers & Services) | | | 6,090 | | | | 8,100 | |
| CNB Financial Corp. (Banks) | | | 318 | | | | 7,670 | |
| CNO Financial Group, Inc. (Insurance) | | | 1,789 | | | | 46,085 | |
| CNX Resources Corp.* (Oil, Gas & Consumable Fuels) | | | 2,811 | | | | 47,028 | |
| Coastal Financial Corp.* (Banks) | | | 164 | | | | 7,490 | |
| Coca-Cola Consolidated, Inc. (Beverages) | | | 74 | | | | 37,502 | |
| Codexis, Inc.* (Life Sciences Tools & Services) | | | 966 | | | | 5,941 | |
| Coeur Mining, Inc.* (Metals & Mining) | | | 4,392 | | | | 17,085 | |
| Cogent Biosciences, Inc.* (Biotechnology) | | | 1,009 | | | | 15,196 | |
| Cogent Communications Holdings, Inc. (Diversified Telecommunication Services) | | | 678 | | | | 46,490 | |
| Cohen & Steers, Inc. (Capital Markets) | | | 400 | | | | 29,388 | |
| Coherus Biosciences, Inc.* (Biotechnology) | | | 1,160 | | | | 9,837 | |
| Cohu, Inc.* (Semiconductors & Semiconductor Equipment) | | | 741 | | | | 26,735 | |
| Collegium Pharmaceutical, Inc.* (Pharmaceuticals) | | | 530 | | | | 14,882 | |
| Colony Bankcorp, Inc. (Banks) | | | 258 | | | | 3,326 | |
| Columbia Banking System, Inc. (Banks) | | | 1,242 | | | | 38,390 | |
| Columbia Financial, Inc.* (Thrifts & Mortgage Finance) | | | 536 | | | | 10,640 | |
| Columbus McKinnon Corp. (Machinery) | | | 442 | | | | 15,890 | |
| Comfort Systems USA, Inc. (Construction & Engineering) | | | 558 | | | | 67,540 | |
| Commercial Metals Co. (Metals & Mining) | | | 1,842 | | | | 99,964 | |
| CommScope Holding Co., Inc.* (Communications Equipment) | | | 3,233 | | | | 27,157 | |
| Community Bank System, Inc. (Banks) | | | 842 | | | | 48,592 | |
| Community Health Systems, Inc. (Health Care Providers & Services) | | | 1,972 | | | | 10,294 | |
| Community Healthcare Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 374 | | | | 16,037 | |
| Community Trust Bancorp, Inc. (Banks) | | | 247 | | | | 10,641 | |
| CommVault Systems, Inc.* (Software) | | | 701 | | | | 43,623 | |
See accompanying notes to schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Compass Diversified Holdings (Diversified Financial Services) | | | 976 | | | $ | 21,784 | |
| Compass Minerals International, Inc. (Metals & Mining) | | | 540 | | | | 25,196 | |
| Compass, Inc.* - Class A (Real Estate Management & Development) | | | 4,306 | | | | 17,310 | |
| CompoSecure, Inc.* (Technology Hardware, Storage & Peripherals) | | | 130 | | | | 827 | |
| Computer Programs and Systems, Inc.* (Health Care Technology) | | | 221 | | | | 6,493 | |
| CompX International, Inc. (Commercial Services & Supplies) | | | 25 | | | | 474 | |
| Comstock Resources, Inc. (Oil, Gas & Consumable Fuels) | | | 1,444 | | | | 17,545 | |
| Comtech Telecommunications Corp. (Communications Equipment) | | | 408 | | | | 6,471 | |
| Concrete Pumping Holdings, Inc.* (Construction & Engineering) | | | 414 | | | | 3,370 | |
| Conduent, Inc.* (IT Services) | | | 2,677 | | | | 12,769 | |
| CONMED Corp. (Health Care Equipment & Supplies) | | | 459 | | | | 43,954 | |
| ConnectOne Bancorp, Inc. (Banks) | | | 585 | | | | 13,905 | |
| Conn's, Inc.* (Specialty Retail) | | | 206 | | | | 1,938 | |
| Consensus Cloud Solutions, Inc.* (Software) | | | 296 | | | | 17,396 | |
| CONSOL Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 541 | | | | 31,286 | |
| Consolidated Communications Holdings, Inc.* (Diversified Telecommunication Services) | | | 1,172 | | | | 5,098 | |
| Constellium SE* (Metals & Mining) | | | 1,992 | | | | 28,944 | |
| Construction Partners, Inc.* - Class A (Construction & Engineering) | | | 628 | | | | 17,766 | |
| Consumer Portfolio Services, Inc.* (Consumer Finance) | | | 151 | | | | 1,518 | |
| ContextLogic, Inc.* - Class A (Internet & Direct Marketing Retail) | | | 9,121 | | | | 6,274 | |
| Corcept Therapeutics, Inc.* (Pharmaceuticals) | | | 1,361 | | | | 31,112 | |
| CoreCivic, Inc.* (Equity Real Estate Investment Trusts (REITs)) | | | 1,799 | | | | 19,141 | |
| Corporate Office Properties Trust (Equity Real Estate Investment Trusts (REITs)) | | | 1,775 | | | | 49,824 | |
| Corsair Gaming, Inc.* (Technology Hardware, Storage & Peripherals) | | | 603 | | | | 9,485 | |
| CorVel Corp.* (Health Care Providers & Services) | | | 140 | | | | 24,942 | |
| Costamare, Inc. (Marine) | | | 833 | | | | 8,455 | |
| Couchbase, Inc.* (Software) | | | 446 | | | | 6,596 | |
| Coursera, Inc.* (Diversified Consumer Services) | | | 1,798 | | | | 28,678 | |
| Covenant Logistics Group, Inc. - Class A (Road & Rail) | | | 147 | | | | 4,875 | |
| Cowen, Inc. - Class A (Capital Markets) | | | 423 | | | | 16,446 | |
| CRA International, Inc. (Professional Services) | | | 110 | | | | 13,072 | |
| Cracker Barrel Old Country Store, Inc. (Hotels, Restaurants & Leisure) | | | 349 | | | | 38,941 | |
| Crawford & Co. - Class A (Insurance) | | | 244 | | | | 1,579 | |
| Credo Technology Group Holding, Ltd.* (Semiconductors & Semiconductor Equipment) | | | 1,519 | | | | 26,324 | |
| Crescent Energy, Inc. - Class A (Oil, Gas & Consumable Fuels) | | | 617 | | | | 7,441 | |
| Crinetics Pharmaceuticals, Inc.* (Biotechnology) | | | 830 | | | | 16,276 | |
| Crocs, Inc.* (Textiles, Apparel & Luxury Goods) | | | 956 | | | | 116,413 | |
| Cross Country Healthcare, Inc.* (Health Care Providers & Services) | | | 563 | | | | 15,623 | |
| CrossFirst Bankshares, Inc.* (Banks) | | | 703 | | | | 9,491 | |
| CryoPort, Inc.* (Health Care Equipment & Supplies) | | | 697 | | | | 15,913 | |
| Cryptyde, Inc.* (Containers & Packaging) | | | 314 | | | | 68 | |
| CS Disco, Inc.* (Software) | | | 356 | | | | 2,958 | |
| CSG Systems International, Inc. (IT Services) | | | 490 | | | | 29,238 | |
| CSW Industrials, Inc. (Building Products) | | | 231 | | | | 31,234 | |
| CTI BioPharma Corp.* (Biotechnology) | | | 1,579 | | | | 8,732 | |
| CTO Realty Growth, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 286 | | | | 5,617 | |
| CTS Corp. (Electronic Equipment, Instruments & Components) | | | 500 | | | | 22,255 | |
| Cue Health, Inc.* (Health Care Equipment & Supplies) | | | 1,717 | | | | 4,499 | |
| Cullinan Oncology, Inc.* (Biotechnology) | | | 479 | | | | 5,576 | |
| Cumulus Media, Inc.* - Class A (Media) | | | 274 | | | | 1,836 | |
| Curo Group Holdings Corp. (Consumer Finance) | | | 347 | | | | 1,402 | |
| Cushman & Wakefield PLC* (Real Estate Management & Development) | | | 2,505 | | | | 36,146 | |
| Custom Truck One Source, Inc.* (Trading Companies & Distributors) | | | 941 | | | | 6,662 | |
| Customers Bancorp, Inc.* (Banks) | | | 481 | | | | 14,608 | |
| Cutera, Inc.* (Health Care Equipment & Supplies) | | | 261 | | | | 9,091 | |
| CVB Financial Corp. (Banks) | | | 2,102 | | | | 50,910 | |
| Cvent Holding Corp.* (Software) | | | 714 | | | | 5,762 | |
| CVR Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 466 | | | | 15,471 | |
| Cytek Biosciences, Inc.* (Life Sciences Tools & Services) | | | 1,800 | | | | 21,690 | |
| Cytokinetics, Inc.* (Biotechnology) | | | 1,294 | | | | 54,969 | |
| Cyxtera Technologies, Inc.* (IT Services) | | | 583 | | | | 1,877 | |
| Daily Journal Corp.* (Media) | | | 18 | | | | 5,508 | |
| Dakota Gold Corp.* (Metals & Mining) | | | 825 | | | | 2,896 | |
| Dana, Inc. (Auto Components) | | | 2,035 | | | | 36,915 | |
| Danimer Scientific, Inc.* (Chemicals) | | | 1,429 | | | | 3,258 | |
| Daseke, Inc.* (Road & Rail) | | | 635 | | | | 4,432 | |
| Dave & Buster's Entertainment, Inc.* (Hotels, Restaurants & Leisure) | | | 677 | | | | 29,348 | |
| Day One Biopharmaceuticals, Inc.* (Biotechnology) | | | 436 | | | | 9,492 | |
| Deciphera Pharmaceuticals, Inc.* (Biotechnology) | | | 725 | | | | 12,332 | |
| Delek US Holdings, Inc. (Oil, Gas & Consumable Fuels) | | | 1,094 | | | | 29,275 | |
| Deluxe Corp. (Commercial Services & Supplies) | | | 682 | | | | 13,633 | |
| Denali Therapeutics, Inc.* (Biotechnology) | | | 1,715 | | | | 51,913 | |
See accompanying notes to schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Denbury, Inc.* (Oil, Gas & Consumable Fuels) | | | 790 | | | $ | 68,556 | |
| Denny's Corp.* (Hotels, Restaurants & Leisure) | | | 879 | | | | 10,566 | |
| Design Therapeutics, Inc.* (Biotechnology) | | | 535 | | | | 4,200 | |
| Designer Brands, Inc. (Specialty Retail) | | | 797 | | | | 8,217 | |
| Desktop Metal, Inc.* - Class A (Machinery) | | | 4,226 | | | | 7,100 | |
| Destination XL Group, Inc.* (Specialty Retail) | | | 905 | | | | 6,453 | |
| DHI Group, Inc.* (Interactive Media & Services) | | | 658 | | | | 3,909 | |
| DHT Holdings, Inc. (Oil, Gas & Consumable Fuels) | | | 2,159 | | | | 18,503 | |
| Diamond Hill Investment Group, Inc. (Capital Markets) | | | 45 | | | | 8,479 | |
| Diamond Offshore Drilling, Inc.* (Energy Equipment & Services) | | | 1,596 | | | | 18,290 | |
| DiamondRock Hospitality Co. (Equity Real Estate Investment Trusts (REITs)) | | | 3,306 | | | | 31,837 | |
| DICE Therapeutics, Inc.* (Pharmaceuticals) | | | 557 | | | | 17,696 | |
| Diebold Nixdorf, Inc.* (Technology Hardware, Storage & Peripherals) | | | 1,154 | | | | 2,758 | |
| Digi International, Inc.* (Communications Equipment) | | | 539 | | | | 18,321 | |
| Digimarc Corp.* (Software) | | | 216 | | | | 4,316 | |
| Digital Turbine, Inc.* (Software) | | | 1,480 | | | | 25,693 | |
| DigitalBridge Group, Inc. (Real Estate Management & Development) | | | 2,490 | | | | 36,851 | |
| DigitalOcean Holdings, Inc.* (IT Services) | | | 1,099 | | | | 32,256 | |
| Dillard's, Inc. - Class A (Multiline Retail) | | | 63 | | | | 24,779 | |
| Dime Community Bancshares, Inc. (Banks) | | | 515 | | | | 15,357 | |
| Dine Brands Global, Inc. (Hotels, Restaurants & Leisure) | | | 233 | | | | 18,013 | |
| Diodes, Inc.* (Semiconductors & Semiconductor Equipment) | | | 701 | | | | 62,522 | |
| Diversey Holdings, Ltd.* (Chemicals) | | | 1,233 | | | | 7,484 | |
| Diversified Healthcare Trust (Equity Real Estate Investment Trusts (REITs)) | | | 3,750 | | | | 2,968 | |
| DMC Global, Inc.* (Energy Equipment & Services) | | | 295 | | | | 6,708 | |
| DocGo, Inc.* (Health Care Providers & Services) | | | 1,301 | | | | 13,010 | |
| Doma Holdings, Inc.* (Real Estate Management & Development) | | | 2,191 | | | | 1,556 | |
| Domo, Inc.* (Software) | | | 487 | | | | 7,553 | |
| Donegal Group, Inc. - Class A (Insurance) | | | 245 | | | | 3,719 | |
| Donnelley Financial Solutions, Inc.* (Capital Markets) | | | 400 | | | | 18,244 | |
| Dorian LPG, Ltd. (Oil, Gas & Consumable Fuels) | | | 484 | | | | 9,607 | |
| Dorman Products, Inc. (Auto Components) | | | 415 | | | | 40,280 | |
| Douglas Dynamics, Inc. (Machinery) | | | 354 | | | | 14,305 | |
| Douglas Elliman, Inc. (Real Estate Management & Development) | | | 1,192 | | | | 5,555 | |
| Dream Finders Homes, Inc.* - Class A (Household Durables) | | | 330 | | | | 4,171 | |
| Dril-Quip, Inc.* (Energy Equipment & Services) | | | 528 | | | | 16,215 | |
| Duck Creek Technologies, Inc.* (Software) | | | 1,217 | | | | 23,038 | |
| Ducommun, Inc.* (Aerospace & Defense) | | | 174 | | | | 10,054 | |
| Duluth Holdings, Inc.* - Class B (Internet & Direct Marketing Retail) | | | 208 | | | | 1,383 | |
| Duolingo, Inc.* (Diversified Consumer Services) | | | 371 | | | | 35,427 | |
| DXP Enterprises, Inc.* (Trading Companies & Distributors) | | | 240 | | | | 7,272 | |
| Dycom Industries, Inc.* (Construction & Engineering) | | | 455 | | | | 43,393 | |
| Dynavax Technologies Corp.* (Biotechnology) | | | 1,883 | | | | 21,429 | |
| Dyne Therapeutics, Inc.* (Biotechnology) | | | 499 | | | | 7,285 | |
| Dynex Capital, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 719 | | | | 10,361 | |
| DZS, Inc.* (Communications Equipment) | | | 278 | | | | 3,531 | |
| E2open Parent Holdings, Inc.* (Software) | | | 3,141 | | | | 21,673 | |
| Eagle Bancorp, Inc. (Banks) | | | 500 | | | | 23,745 | |
| Eagle Bulk Shipping, Inc. (Marine) | | | 213 | | | | 12,201 | |
| Eagle Pharmaceuticals, Inc.* (Biotechnology) | | | 161 | | | | 5,464 | |
| Earthstone Energy, Inc.* - Class A (Oil, Gas & Consumable Fuels) | | | 688 | | | | 9,563 | |
| Easterly Government Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,437 | | | | 23,337 | |
| Eastern Bankshares, Inc. (Banks) | | | 2,458 | | | | 39,746 | |
| Eastman Kodak Co.* (Technology Hardware, Storage & Peripherals) | | | 902 | | | | 3,256 | |
| Ebix, Inc. (Software) | | | 415 | | | | 7,910 | |
| EchoStar Corp.* - Class A (Diversified Telecommunication Services) | | | 530 | | | | 9,916 | |
| Ecovyst, Inc.* (Chemicals) | | | 1,141 | | | | 11,969 | |
| Edgewell Personal Care Co. (Personal Products) | | | 812 | | | | 34,802 | |
| Edgewise Therapeutics, Inc.* (Pharmaceuticals) | | | 597 | | | | 6,107 | |
| Editas Medicine, Inc.* (Biotechnology) | | | 1,089 | | | | 10,770 | |
| eGain Corp.* (Software) | | | 332 | | | | 3,227 | |
| eHealth, Inc.* (Insurance) | | | 391 | | | | 3,245 | |
| Eiger Biopharmaceuticals, Inc.* (Biotechnology) | | | 659 | | | | 1,252 | |
| El Pollo Loco Holdings, Inc. (Hotels, Restaurants & Leisure) | | | 307 | | | | 3,767 | |
| elf Beauty, Inc.* (Personal Products) | | | 775 | | | | 44,601 | |
| Ellington Financial, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 908 | | | | 12,467 | |
| Elme Communities (Equity Real Estate Investment Trusts (REITs)) | | | 1,378 | | | | 26,458 | |
| Embecta Corp. (Health Care Equipment & Supplies) | | | 917 | | | | 24,200 | |
| EMCOR Group, Inc. (Construction & Engineering) | | | 745 | | | | 110,446 | |
| Emergent BioSolutions, Inc.* (Biotechnology) | | | 794 | | | | 10,473 | |
| Empire Petroleum Corp.* (Oil, Gas & Consumable Fuels) | | | 160 | | | | 2,110 | |
| Empire State Realty Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 2,098 | | | | 17,497 | |
| Employers Holdings, Inc. (Insurance) | | | 428 | | | | 18,776 | |
| Enact Holdings, Inc. (Thrifts & Mortgage Finance) | | | 473 | | | | 11,896 | |
See accompanying notes to schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Enanta Pharmaceuticals, Inc.* (Biotechnology) | | | 309 | | | $ | 16,494 | |
| Encore Capital Group, Inc.* (Consumer Finance) | | | 365 | | | | 20,338 | |
| Encore Wire Corp. (Electrical Equipment) | | | 279 | | | | 45,039 | |
| Energizer Holdings, Inc. (Household Products) | | | 1,051 | | | | 38,992 | |
| Energy Fuels, Inc.* (Oil, Gas & Consumable Fuels) | | | 2,460 | | | | 18,130 | |
| Energy Recovery, Inc.* (Machinery) | | | 867 | | | | 19,187 | |
| Energy Vault Holdings, Inc.* (Electrical Equipment) | | | 1,294 | | | | 5,487 | |
| Enerpac Tool Group Corp. (Machinery) | | | 902 | | | | 23,939 | |
| EnerSys (Electrical Equipment) | | | 643 | | | | 53,382 | |
| Eneti, Inc. (Marine) | | | 349 | | | | 3,696 | |
| Enfusion, Inc.* - Class A (Software) | | | 423 | | | | 5,025 | |
| EngageSmart, Inc.* (Software) | | | 560 | | | | 11,032 | |
| Ennis, Inc. (Commercial Services & Supplies) | | | 400 | | | | 8,496 | |
| Enochian Biosciences, Inc.* (Biotechnology) | | | 313 | | | | 382 | |
| Enova International, Inc.* (Consumer Finance) | | | 484 | | | | 22,095 | |
| Enovix Corp.* (Electrical Equipment) | | | 1,715 | | | | 13,617 | |
| EnPro Industries, Inc. (Machinery) | | | 329 | | | | 39,832 | |
| Enstar Group, Ltd.* (Insurance) | | | 177 | | | | 42,887 | |
| Entercom Communications Corp.* (Media) | | | 1,902 | | | | 611 | |
| Enterprise Bancorp, Inc. (Banks) | | | 147 | | | | 5,224 | |
| Enterprise Financial Services Corp. (Banks) | | | 556 | | | | 29,646 | |
| Entravision Communications Corp. - Class A (Media) | | | 936 | | | | 6,084 | |
| Envestnet, Inc.* (Software) | | | 866 | | | | 56,290 | |
| ePlus, Inc.* (Electronic Equipment, Instruments & Components) | | | 418 | | | | 20,808 | |
| EQRx, Inc.* (Biotechnology) | | | 3,170 | | | | 7,767 | |
| Equitrans Midstream Corp. (Oil, Gas & Consumable Fuels) | | | 6,480 | | | | 46,980 | |
| Equity Bancshares, Inc. - Class A (Banks) | | | 239 | | | | 7,134 | |
| Equity Commonwealth (Equity Real Estate Investment Trusts (REITs)) | | | 1,652 | | | | 42,159 | |
| Erasca, Inc.* (Biotechnology) | | | 1,023 | | | | 4,092 | |
| Ermenegildo Zegna Holditalia SpA (Consumer Discretionary Products) | | | 944 | | | | 10,818 | |
| ESCO Technologies, Inc. (Machinery) | | | 406 | | | | 39,967 | |
| Esperion Therapeutics, Inc.* (Biotechnology) | | | 1,162 | | | | 7,390 | |
| Esquire Financial Holdings, Inc. (Banks) | | | 110 | | | | 5,119 | |
| ESS Tech, Inc.* (Electrical Equipment) | | | 1,273 | | | | 2,813 | |
| Essent Group, Ltd. (Thrifts & Mortgage Finance) | | | 1,661 | | | | 73,134 | |
| Essential Properties Realty Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 2,216 | | | | 56,464 | |
| Ethan Allen Interiors, Inc. (Household Durables) | | | 356 | | | | 10,231 | |
| European Wax Center, Inc. - Class A (Diversified Consumer Services) | | | 384 | | | | 7,235 | |
| Eventbrite, Inc.* (Interactive Media & Services) | | | 1,232 | | | | 10,952 | |
| Everbridge, Inc.* (Software) | | | 630 | | | | 20,135 | |
| EverCommerce, Inc.* (Software) | | | 377 | | | | 3,894 | |
| Everi Holdings, Inc.* (Hotels, Restaurants & Leisure) | | | 1,360 | | | | 23,623 | |
| EverQuote, Inc.* - Class A (Interactive Media & Services) | | | 315 | | | | 4,914 | |
| EVERTEC, Inc. (IT Services) | | | 963 | | | | 35,573 | |
| EVgo, Inc.* (Specialty Retail) | | | 1,072 | | | | 7,386 | |
| Evo Payments, Inc.* (IT Services) | | | 745 | | | | 25,233 | |
| Evolent Health, Inc.* (Health Care Technology) | | | 1,292 | | | | 41,628 | |
| Evolus, Inc.* (Pharmaceuticals) | | | 559 | | | | 5,808 | |
| Evolv Technologies Holdings, Inc.* (Electronic Equipment, Instruments & Components) | | | 1,326 | | | | 4,058 | |
| Evoqua Water Technologies Corp.* (Machinery) | | | 1,854 | | | | 89,937 | |
| Excelerate Energy, Inc. - Class A (Oil, Gas & Consumable Fuels) | | | 293 | | | | 6,827 | |
| ExlService Holdings, Inc.* (IT Services) | | | 510 | | | | 87,006 | |
| eXp World Holdings, Inc. (Real Estate Management & Development) | | | 1,098 | | | | 17,118 | |
| Exponent, Inc. (Professional Services) | | | 802 | | | | 82,238 | |
| Express, Inc.* (Specialty Retail) | | | 1,014 | | | | 1,176 | |
| Expro Group Holdings N.V.* (Energy Equipment & Services) | | | 1,222 | | | | 23,084 | |
| Extreme Networks, Inc.* (Communications Equipment) | | | 2,021 | | | | 36,438 | |
| EyePoint Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 413 | | | | 1,925 | |
| EZCORP, Inc.* - Class A (Consumer Finance) | | | 787 | | | | 7,170 | |
| F45 Training Holdings, Inc.* (Hotels, Restaurants & Leisure) | | | 580 | | | | 1,798 | |
| Fabrinet* (Electronic Equipment, Instruments & Components) | | | 581 | | | | 76,494 | |
| Faraday Future Intelligent Electric, Inc.* (Automobiles) | | | 3,271 | | | | 2,780 | |
| Farmers & Merchants Bancorp, Inc. (Banks) | | | 198 | | | | 5,633 | |
| Farmers National Bancorp (Banks) | | | 496 | | | | 7,132 | |
| Farmland Partners, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 786 | | | | 10,124 | |
| FARO Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 296 | | | | 8,134 | |
| Fastly, Inc.* - Class A (IT Services) | | | 1,789 | | | | 18,516 | |
| Fate Therapeutics, Inc.* (Biotechnology) | | | 1,309 | | | | 7,802 | |
| Fathom Digital Manufacturing C* (Machinery) | | | 155 | | | | 214 | |
| FB Financial Corp. (Banks) | | | 564 | | | | 21,184 | |
| Federal Agricultural Mortgage Corp. (Thrifts & Mortgage Finance) | | | 144 | | | | 19,148 | |
| Federal Signal Corp. (Machinery) | | | 941 | | | | 50,108 | |
| Federated Hermes, Inc. - Class B (Capital Markets) | | | 1,345 | | | | 52,859 | |
| FibroGen, Inc.* (Biotechnology) | | | 1,379 | | | | 32,544 | |
| Figs, Inc.* - Class A (Health Care Equipment & Supplies) | | | 2,011 | | | | 17,998 | |
| Finance Of America Cos., Inc.* - Class A (Thrifts & Mortgage Finance) | | | 619 | | | | 1,089 | |
| Financial Institutions, Inc. (Banks) | | | 238 | | | | 5,881 | |
See accompanying notes to schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| First Advantage Corp.* (Professional Services) | | | 925 | | | $ | 12,839 | |
| First Bancorp (Banks) | | | 556 | | | | 22,157 | |
| First Bancorp (Banks) | | | 2,872 | | | | 38,628 | |
| First Bank/Hamilton NJ (Banks) | | | 244 | | | | 3,301 | |
| First Busey Corp. (Banks) | | | 813 | | | | 19,406 | |
| First Business Financial Services, Inc. (Banks) | | | 126 | | | | 4,511 | |
| First Commonwealth Financial Corp. (Banks) | | | 1,472 | | | | 21,653 | |
| First Community Bancshares, Inc. (Banks) | | | 248 | | | | 8,062 | |
| First Financial Bancorp (Banks) | | | 1,469 | | | | 37,210 | |
| First Financial Bankshares, Inc. (Banks) | | | 2,049 | | | | 72,985 | |
| First Financial Corp. (Banks) | | | 174 | | | | 7,816 | |
| First Foundation, Inc. (Banks) | | | 807 | | | | 12,533 | |
| First Guaranty Bancshares, Inc. (Banks) | | | 95 | | | | 2,081 | |
| First Internet Bancorp (Banks) | | | 136 | | | | 3,575 | |
| First Interstate BancSystem, Inc. - Class A (Banks) | | | 1,408 | | | | 50,519 | |
| First Merchants Corp. (Banks) | | | 902 | | | | 38,461 | |
| First Mid Bancshares, Inc. (Banks) | | | 294 | | | | 9,446 | |
| First Watch Restaurant Group, Inc.* (Hotels, Restaurants & Leisure) | | | 238 | | | | 3,856 | |
| First Western Financial, Inc.* (Banks) | | | 125 | | | | 3,281 | |
| FirstCash Holdings, Inc. (Consumer Finance) | | | 593 | | | | 54,662 | |
| Fisker, Inc.* (Automobiles) | | | 2,791 | | | | 20,793 | |
| Five Star Bancorp (Banks) | | | 198 | | | | 5,338 | |
| FLEX LNG, Ltd. (Oil, Gas & Consumable Fuels) | | | 449 | | | | 13,964 | |
| Fluence Energy, Inc.* (Electrical Equipment) | | | 566 | | | | 13,663 | |
| Fluor Corp.* (Construction & Engineering) | | | 2,243 | | | | 82,430 | |
| Flushing Financial Corp. (Banks) | | | 448 | | | | 8,597 | |
| Flywire Corp.* (IT Services) | | | 899 | | | | 24,246 | |
| Focus Financial Partners, Inc.* (Capital Markets) | | | 914 | | | | 41,267 | |
| Focus Universal, Inc.* (Electronic Equipment, Instruments & Components) | | | 279 | | | | 1,618 | |
| Foghorn Therapeutics, Inc.* (Pharmaceuticals) | | | 317 | | | | 2,726 | |
| Foot Locker, Inc. (Specialty Retail) | | | 1,272 | | | | 55,345 | |
| Forestar Group, Inc.* (Real Estate Management & Development) | | | 287 | | | | 4,271 | |
| ForgeRock, Inc.* - Class A (Software) | | | 601 | | | | 11,936 | |
| FormFactor, Inc.* (Semiconductors & Semiconductor Equipment) | | | 1,215 | | | | 34,190 | |
| Forrester Research, Inc.* (Professional Services) | | | 178 | | | | 6,597 | |
| Forward Air Corp. (Air Freight & Logistics) | | | 424 | | | | 45,729 | |
| Fossil Group, Inc.* (Textiles, Apparel & Luxury Goods) | | | 745 | | | | 4,232 | |
| Four Corners Property Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,319 | | | | 37,934 | |
| Fox Factory Holding Corp.* (Auto Components) | | | 669 | | | | 79,001 | |
| Franchise Group, Inc. (Diversified Consumer Services) | | | 411 | | | | 12,696 | |
| Franklin BSP Realty Trust, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 1,308 | | | | 18,966 | |
| Franklin Covey Co.* (Professional Services) | | | 192 | | | | 8,909 | |
| Franklin Electric Co., Inc. (Machinery) | | | 726 | | | | 65,558 | |
| Franklin Street Properties Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 1,558 | | | | 4,799 | |
| Fresh Del Monte Produce, Inc. (Food Products) | | | 481 | | | | 13,757 | |
| Frontdoor, Inc.* (Diversified Consumer Services) | | | 1,305 | | | | 35,470 | |
| Frontier Group Holdings, Inc.* (Airlines) | | | 588 | | | | 7,397 | |
| Frontline PLC (Oil, Gas & Consumable Fuels) | | | 1,965 | | | | 27,176 | |
| FRP Holdings, Inc.* (Real Estate Management & Development) | | | 105 | | | | 5,898 | |
| FTC Solar, Inc.* (Electrical Equipment) | | | 677 | | | | 1,862 | |
| fuboTV, Inc.* (Interactive Media & Services) | | | 2,965 | | | | 7,620 | |
| FuelCell Energy, Inc.* (Electrical Equipment) | | | 6,441 | | | | 23,574 | |
| Fulcrum Therapeutics, Inc.* (Pharmaceuticals) | | | 687 | | | | 8,663 | |
| Fulgent Genetics, Inc.* (Health Care Providers & Services) | | | 330 | | | | 11,147 | |
| Full House Resorts, Inc.* (Hotels, Restaurants & Leisure) | | | 519 | | | | 4,578 | |
| Fulton Financial Corp. (Banks) | | | 2,557 | | | | 42,779 | |
| Funko, Inc.* (Distributors) | | | 502 | | | | 6,075 | |
| FutureFuel Corp. (Chemicals) | | | 407 | | | | 3,773 | |
| FVCBankcorp, Inc.* (Banks) | | | 188 | | | | 3,220 | |
| Gambling.com Group, Ltd.* (Media) | | | 141 | | | | 1,349 | |
| Gannett Co., Inc.* (Media) | | | 2,272 | | | | 5,135 | |
| GATX Corp. (Trading Companies & Distributors) | | | 554 | | | | 63,405 | |
| GCM Grosvenor, Inc. - Class A (Capital Markets) | | | 648 | | | | 5,806 | |
| Gelesis Holdings, Inc.* (Biotechnology) | | | 283 | | | | 87 | |
| Genco Shipping & Trading, Ltd. (Marine) | | | 578 | | | | 10,485 | |
| GeneDx Holdings Corp.* (Health Care Technology) | | | 2,493 | | | | 1,059 | |
| Generation Bio Co.* (Biotechnology) | | | 758 | | | | 4,472 | |
| Genesco, Inc.* (Specialty Retail) | | | 197 | | | | 9,513 | |
| Gentherm, Inc.* (Auto Components) | | | 522 | | | | 38,852 | |
| Genworth Financial, Inc.* (Insurance) | | | 7,801 | | | | 43,062 | |
| German American Bancorp, Inc. (Banks) | | | 436 | | | | 16,795 | |
| Geron Corp.* (Biotechnology) | | | 5,726 | | | | 18,896 | |
| Getty Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 664 | | | | 24,190 | |
| Gevo, Inc.* (Oil, Gas & Consumable Fuels) | | | 3,103 | | | | 6,578 | |
| Gibraltar Industries, Inc.* (Building Products) | | | 490 | | | | 26,249 | |
| G-III Apparel Group, Ltd.* (Textiles, Apparel & Luxury Goods) | | | 678 | | | | 11,472 | |
| Glacier Bancorp, Inc. (Banks) | | | 1,752 | | | | 79,874 | |
| Gladstone Commercial Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 617 | | | | 10,483 | |
| Gladstone Land Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 508 | | | | 9,926 | |
| Glatfelter Corp. (Paper & Forest Products) | | | 695 | | | | 3,044 | |
| Glaukos Corp.* (Health Care Equipment & Supplies) | | | 721 | | | | 35,365 | |
See accompanying notes to schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Global Industrial Co. (Trading Companies & Distributors) | | | 205 | | | $ | 5,389 | |
| Global Medical REIT, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 961 | | | | 10,792 | |
| Global Net Lease, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,642 | | | | 24,548 | |
| Global Water Resources, Inc. (Water Utilities) | | | 214 | | | | 3,045 | |
| Globalstar, Inc.* (Diversified Telecommunication Services) | | | 10,783 | | | | 15,204 | |
| GMS, Inc.* (Trading Companies & Distributors) | | | 672 | | | | 39,863 | |
| Gogo, Inc.* (Wireless Telecommunication Services) | | | 780 | | | | 13,081 | |
| Golar LNG, Ltd.* (Oil, Gas & Consumable Fuels) | | | 1,591 | | | | 37,293 | |
| Golden Entertainment, Inc.* (Hotels, Restaurants & Leisure) | | | 316 | | | | 12,482 | |
| Golden Ocean Group, Ltd. (Marine) | | | 1,935 | | | | 18,537 | |
| Goosehead Insurance, Inc.* (Insurance) | | | 300 | | | | 11,715 | |
| GoPro, Inc.* - Class A (Household Durables) | | | 2,037 | | | | 12,528 | |
| Gossamer Bio, Inc.* (Biotechnology) | | | 994 | | | | 2,624 | |
| GrafTech International, Ltd. (Electrical Equipment) | | | 3,055 | | | | 19,980 | |
| Graham Holdings Co. - Class B (Diversified Consumer Services) | | | 58 | | | | 37,892 | |
| Granite Construction, Inc. (Construction & Engineering) | | | 698 | | | | 29,721 | |
| Granite Point Mortgage Trust, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 819 | | | | 5,471 | |
| Gray Television, Inc. (Media) | | | 1,294 | | | | 16,770 | |
| Great Lakes Dredge & Dock Corp.* (Construction & Engineering) | | | 1,030 | | | | 7,086 | |
| Great Southern Bancorp, Inc. (Banks) | | | 147 | | | | 8,591 | |
| Green Brick Partners, Inc.* (Household Durables) | | | 428 | | | | 13,354 | |
| Green Dot Corp.* - Class A (Consumer Finance) | | | 741 | | | | 13,397 | |
| Green Plains, Inc.* (Oil, Gas & Consumable Fuels) | | | 848 | | | | 29,485 | |
| Greene County Bancorp, Inc. (Thrifts & Mortgage Finance) | | | 54 | | | | 2,643 | |
| Greenidge Generation Holdings, Inc.* (Software) | | | 228 | | | | 192 | |
| GreenLight Biosciences Holdings PBC* (Biotechnology) | | | 1,411 | | | | 1,538 | |
| Greenlight Capital Re, Ltd.* - Class A (Insurance) | | | 412 | | | | 4,058 | |
| Greif, Inc. - Class A (Containers & Packaging) | | | 392 | | | | 28,001 | |
| Greif, Inc. - Class B (Containers & Packaging) | | | 85 | | | | 7,004 | |
| Grid Dynamics Holdings, Inc.* (IT Services) | | | 845 | | | | 10,579 | |
| Griffon Corp. (Building Products) | | | 725 | | | | 29,638 | |
| Group 1 Automotive, Inc. (Specialty Retail) | | | 223 | | | | 47,689 | |
| Groupon, Inc.* (Internet & Direct Marketing Retail) | | | 345 | | | | 2,850 | |
| GrowGeneration Corp.* (Specialty Retail) | | | 905 | | | | 4,670 | |
| Guaranty Bancshares, Inc. (Banks) | | | 128 | | | | 4,221 | |
| Guess?, Inc. (Specialty Retail) | | | 489 | | | | 11,330 | |
| Gulfport Energy Corp.* (Oil, Gas & Consumable Fuels) | | | 173 | | | | 11,790 | |
| H&E Equipment Services, Inc. (Trading Companies & Distributors) | | | 503 | | | | 25,598 | |
| H.B. Fuller Co. (Chemicals) | | | 837 | | | | 57,837 | |
| Haemonetics Corp.* (Health Care Equipment & Supplies) | | | 801 | | | | 67,764 | |
| Halozyme Therapeutics, Inc.* (Biotechnology) | | | 2,098 | | | | 108,612 | |
| Hamilton Lane, Inc. (Capital Markets) | | | 566 | | | | 44,069 | |
| Hancock Whitney Corp. (Banks) | | | 1,359 | | | | 69,961 | |
| Hanmi Financial Corp. (Banks) | | | 477 | | | | 11,109 | |
| Hannon Armstrong Sustainable Infrastructure Capital, Inc. - Class I (Mortgage Real Estate Investment Trusts (REITs)) | | | 1,373 | | | | 50,676 | |
| HarborOne Bancorp, Inc. (Banks) | | | 689 | | | | 9,398 | |
| Harmonic, Inc.* (Communications Equipment) | | | 1,451 | | | | 19,110 | |
| Harmony Biosciences Holdings, Inc.* (Pharmaceuticals) | | | 412 | | | | 19,846 | |
| Harsco Corp.* (Machinery) | | | 1,238 | | | | 9,830 | |
| Haverty Furniture Cos., Inc. (Specialty Retail) | | | 229 | | | | 7,997 | |
| Hawaiian Holdings, Inc.* (Airlines) | | | 798 | | | | 9,831 | |
| Hawkins, Inc. (Chemicals) | | | 305 | | | | 11,895 | |
| Haynes International, Inc. (Metals & Mining) | | | 192 | | | | 10,692 | |
| HBT Financial, Inc. (Banks) | | | 161 | | | | 3,376 | |
| HCI Group, Inc. (Insurance) | | | 99 | | | | 4,971 | |
| Health Catalyst, Inc.* (Health Care Technology) | | | 865 | | | | 12,024 | |
| Healthcare Services Group, Inc. (Commercial Services & Supplies) | | | 1,168 | | | | 15,733 | |
| HealthEquity, Inc.* (Health Care Providers & Services) | | | 1,308 | | | | 79,591 | |
| HealthStream, Inc.* (Health Care Technology) | | | 381 | | | | 9,213 | |
| Heartland Express, Inc. (Road & Rail) | | | 736 | | | | 12,380 | |
| Heartland Financial USA, Inc. (Banks) | | | 648 | | | | 32,057 | |
| Hecla Mining Co. (Metals & Mining) | | | 8,721 | | | | 53,809 | |
| Heidrick & Struggles International, Inc. (Professional Services) | | | 308 | | | | 9,474 | |
| Helen of Troy, Ltd.* (Household Durables) | | | 375 | | | | 42,416 | |
| Heliogen, Inc.* (Electrical Equipment) | | | 1,433 | | | | 914 | |
| Helios Technologies, Inc. (Machinery) | | | 513 | | | | 33,858 | |
| Helix Energy Solutions Group, Inc.* (Energy Equipment & Services) | | | 2,255 | | | | 17,882 | |
| Helmerich & Payne, Inc. (Energy Equipment & Services) | | | 1,620 | | | | 78,473 | |
| Herbalife Nutrition, Ltd.* (Personal Products) | | | 1,544 | | | | 27,128 | |
| Herc Holdings, Inc. (Trading Companies & Distributors) | | | 396 | | | | 61,507 | |
| Heritage Commerce Corp. (Banks) | | | 926 | | | | 11,223 | |
| Heritage Financial Corp. (Banks) | | | 545 | | | | 15,549 | |
| Heritage-Crystal Clean, Inc.* (Commercial Services & Supplies) | | | 247 | | | | 9,188 | |
| Heron Therapeutics, Inc.* (Biotechnology) | | | 1,623 | | | | 4,398 | |
See accompanying notes to schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Hersha Hospitality Trust (Equity Real Estate Investment Trusts (REITs)) | | | 495 | | | $ | 4,554 | |
| Heska Corp.* (Health Care Equipment & Supplies) | | | 152 | | | | 13,595 | |
| HF Foods Group, Inc.* (Food & Staples Retailing) | | | 571 | | | | 2,661 | |
| Hibbett, Inc. (Specialty Retail) | | | 200 | | | | 13,272 | |
| HighPeak Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 110 | | | | 3,076 | |
| Hillenbrand, Inc. (Machinery) | | | 1,093 | | | | 51,218 | |
| HilleVax, Inc.* (Biotechnology) | | | 275 | | | | 4,703 | |
| Hillman Solutions Corp.* (Machinery) | | | 2,122 | | | | 20,371 | |
| Hilltop Holdings, Inc. (Banks) | | | 786 | | | | 25,702 | |
| Hilton Grand Vacations, Inc.* (Hotels, Restaurants & Leisure) | | | 1,354 | | | | 64,125 | |
| Hims & Hers Health, Inc.* (Health Care Providers & Services) | | | 1,913 | | | | 15,840 | |
| Hingham Institution For Savings The (Thrifts & Mortgage Finance) | | | 23 | | | | 6,724 | |
| Hippo Holdings, Inc.* (Insurance) | | | 270 | | | | 4,531 | |
| HireRight Holdings Corp.* (Professional Services) | | | 334 | | | | 3,821 | |
| HNI Corp. (Commercial Services & Supplies) | | | 649 | | | | 20,619 | |
| Holley, Inc.* (Auto Components) | | | 812 | | | | 2,688 | |
| Home Bancorp, Inc. (Thrifts & Mortgage Finance) | | | 115 | | | | 4,416 | |
| Home BancShares, Inc. (Banks) | | | 2,964 | | | | 70,751 | |
| Home Point Capital, Inc. (Thrifts & Mortgage Finance) | | | 127 | | | | 229 | |
| HomeStreet, Inc. (Banks) | | | 283 | | | | 7,802 | |
| HomeTrust Bancshares, Inc. (Banks) | | | 224 | | | | 6,048 | |
| Hope Bancorp, Inc. (Banks) | | | 1,826 | | | | 23,537 | |
| Horace Mann Educators Corp. (Insurance) | | | 648 | | | | 23,075 | |
| Horizon Bancorp, Inc. (Banks) | | | 635 | | | | 9,931 | |
| Hostess Brands, Inc.* (Food Products) | | | 2,104 | | | | 48,666 | |
| Houlihan Lokey, Inc. (Capital Markets) | | | 788 | | | | 78,068 | |
| Hovnanian Enterprises, Inc.* - Class A (Household Durables) | | | 82 | | | | 4,746 | |
| Hub Group, Inc.* - Class A (Air Freight & Logistics) | | | 509 | | | | 43,402 | |
| Hudson Technologies, Inc.* (Commercial Services & Supplies) | | | 679 | | | | 6,933 | |
| Humacyte, Inc.* (Biotechnology) | | | 928 | | | | 2,441 | |
| Huron Consulting Group, Inc.* (Professional Services) | | | 310 | | | | 21,092 | |
| Hycroft Mining Holding Corp.* (Metals & Mining) | | | 2,414 | | | | 1,446 | |
| Hydrofarm Holdings Group, Inc.* (Machinery) | | | 690 | | | | 1,290 | |
| Hyliion Holdings Corp.* (Machinery) | | | 2,166 | | | | 7,754 | |
| Hyster-Yale Materials Handling, Inc. (Machinery) | | | 171 | | | | 5,546 | |
| Hyzon Motors, Inc.* (Machinery) | | | 1,386 | | | | 2,952 | |
| I3 Verticals, Inc.* - Class A (IT Services) | | | 347 | | | | 10,035 | |
| IBEX Holdings, Ltd.* (Commercial Services & Supplies) | | | 141 | | | | 3,763 | |
| ICF International, Inc. (Professional Services) | | | 291 | | | | 29,737 | |
| Ichor Holdings, Ltd.* (Semiconductors & Semiconductor Equipment) | | | 442 | | | | 14,940 | |
| Icosavax, Inc.* (Biotechnology) | | | 351 | | | | 3,703 | |
| Ideaya Biosciences, Inc.* (Biotechnology) | | | 699 | | | | 11,904 | |
| Identiv, Inc.* (Electronic Equipment, Instruments & Components) | | | 348 | | | | 3,035 | |
| IDT Corp.* - Class B (Diversified Telecommunication Services) | | | 245 | | | | 7,201 | |
| IES Holdings, Inc.* (Construction & Engineering) | | | 137 | | | | 5,454 | |
| IGM Biosciences, Inc.* (Biotechnology) | | | 167 | | | | 3,796 | |
| iHeartMedia, Inc.* - Class A (Media) | | | 1,900 | | | | 14,725 | |
| IMAX Corp.* (Entertainment) | | | 741 | | | | 12,597 | |
| ImmunityBio, Inc.* (Biotechnology) | | | 1,291 | | | | 4,906 | |
| ImmunoGen, Inc.* (Biotechnology) | | | 3,384 | | | | 15,566 | |
| Immunovant, Inc.* (Biotechnology) | | | 700 | | | | 12,439 | |
| Impinj, Inc.* (Semiconductors & Semiconductor Equipment) | | | 339 | | | | 43,995 | |
| Inari Medical, Inc.* (Health Care Equipment & Supplies) | | | 760 | | | | 43,358 | |
| Independence Realty Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 3,540 | | | | 66,658 | |
| Independent Bank Corp. (Banks) | | | 723 | | | | 57,616 | |
| Independent Bank Corp. (Banks) | | | 316 | | | | 7,006 | |
| Independent Bank Group, Inc. (Banks) | | | 564 | | | | 34,573 | |
| indie Semiconductor, Inc.* - Class A (Semiconductors & Semiconductor Equipment) | | | 1,608 | | | | 12,816 | |
| Indus Realty Trust, Inc. (Real Estate Management & Development) | | | 85 | | | | 5,449 | |
| Industrial Logistics Properties Trust (Equity Real Estate Investment Trusts (REITs)) | | | 1,025 | | | | 4,520 | |
| Infinera Corp.* (Communications Equipment) | | | 3,046 | | | | 22,297 | |
| Information Services Group, Inc. (IT Services) | | | 554 | | | | 2,903 | |
| Ingevity Corp.* (Chemicals) | | | 592 | | | | 48,804 | |
| Ingles Markets, Inc. (Food & Staples Retailing) | | | 224 | | | | 21,280 | |
| Inhibrx, Inc.* (Biotechnology) | | | 514 | | | | 12,850 | |
| Innospec, Inc. (Chemicals) | | | 390 | | | | 44,078 | |
| Innovage Holding Corp.* (Health Care Providers & Services) | | | 302 | | | | 2,262 | |
| Innovative Industrial Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 438 | | | | 39,324 | |
| Innovid Corp.* (Media) | | | 1,207 | | | | 2,716 | |
| Innoviva, Inc.* (Pharmaceuticals) | | | 997 | | | | 12,612 | |
| Inogen, Inc.* (Health Care Equipment & Supplies) | | | 362 | | | | 8,445 | |
| Inotiv, Inc.* (Life Sciences Tools & Services) | | | 275 | | | | 1,994 | |
| Inovio Pharmaceuticals, Inc.* (Biotechnology) | | | 3,897 | | | | 6,469 | |
| Inseego Corp.* (Communications Equipment) | | | 1,360 | | | | 1,578 | |
| Insight Enterprises, Inc.* (Electronic Equipment, Instruments & Components) | | | 495 | | | | 55,796 | |
| Insmed, Inc.* (Biotechnology) | | | 2,131 | | | | 45,880 | |
| Insperity, Inc. (Professional Services) | | | 571 | | | | 63,124 | |
| Inspirato, Inc.* (Hotels, Restaurants & Leisure) | | | 325 | | | | 406 | |
See accompanying notes to schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Inspire Medical Systems, Inc.* (Health Care Technology) | | | 445 | | | $ | 112,612 | |
| Inspired Entertainment, Inc.* (Hotels, Restaurants & Leisure) | | | 336 | | | | 5,006 | |
| Installed Building Products, Inc. (Household Durables) | | | 376 | | | | 41,394 | |
| Insteel Industries, Inc. (Building Products) | | | 295 | | | | 8,847 | |
| Instil Bio, Inc.* (Biotechnology) | | | 1,098 | | | | 894 | |
| Instructure Holdings, Inc.* (Software) | | | 273 | | | | 7,379 | |
| Intapp, Inc.* (Software) | | | 227 | | | | 6,578 | |
| Integer Holdings Corp.* (Health Care Equipment & Supplies) | | | 520 | | | | 34,221 | |
| Integral Ad Science Holding Corp.* (Media) | | | 602 | | | | 6,189 | |
| Intellia Therapeutics, Inc.* (Biotechnology) | | | 1,340 | | | | 56,870 | |
| Inter Parfums, Inc. (Personal Products) | | | 283 | | | | 33,456 | |
| Intercept Pharmaceuticals, Inc.* (Biotechnology) | | | 386 | | | | 7,048 | |
| InterDigital, Inc. (Communications Equipment) | | | 469 | | | | 32,807 | |
| Interface, Inc. (Commercial Services & Supplies) | | | 905 | | | | 10,299 | |
| International Bancshares Corp. (Banks) | | | 844 | | | | 39,558 | |
| International Game Technology PLC (Hotels, Restaurants & Leisure) | | | 1,548 | | | | 40,945 | |
| International Money Express, Inc.* (IT Services) | | | 494 | | | | 11,243 | |
| International Seaways, Inc. (Oil, Gas & Consumable Fuels) | | | 768 | | | | 29,829 | |
| Intra-Cellular Therapies, Inc.* (Pharmaceuticals) | | | 1,444 | | | | 69,195 | |
| Intrepid Potash, Inc.* (Chemicals) | | | 175 | | | | 5,728 | |
| InvenTrust Properties Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 1,068 | | | | 26,561 | |
| Invesco Mortgage Capital, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 561 | | | | 8,241 | |
| Investors Title Co. (Insurance) | | | 20 | | | | 3,240 | |
| Invitae Corp.* (Biotechnology) | | | 3,845 | | | | 9,074 | |
| Invivyd, Inc.* (Biotechnology) | | | 811 | | | | 1,849 | |
| IonQ, Inc.* (Technology Hardware, Storage & Peripherals) | | | 1,874 | | | | 8,321 | |
| Iovance Biotherapeutics, Inc.* (Biotechnology) | | | 2,377 | | | | 18,921 | |
| iRadimed Corp. (Health Care Equipment & Supplies) | | | 113 | | | | 4,226 | |
| iRhythm Technologies, Inc.* (Health Care Equipment & Supplies) | | | 475 | | | | 46,693 | |
| Iridium Communications, Inc.* (Diversified Telecommunication Services) | | | 1,970 | | | | 117,885 | |
| iRobot Corp.* (Household Durables) | | | 423 | | | | 19,035 | |
| IronNet, Inc.* (Software) | | | 1,038 | | | | 414 | |
| Ironwood Pharmaceuticals, Inc.* (Biotechnology) | | | 2,154 | | | | 24,814 | |
| iStar, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,094 | | | | 10,152 | |
| iTeos Therapeutics, Inc.* (Biotechnology) | | | 371 | | | | 7,754 | |
| Itron, Inc.* (Electronic Equipment, Instruments & Components) | | | 711 | | | | 40,861 | |
| Ivanhoe Electric, Inc.* (Metals & Mining) | | | 228 | | | | 3,021 | |
| IVERIC bio, Inc.* (Biotechnology) | | | 2,120 | | | | 48,972 | |
| J & J Snack Foods Corp. (Food Products) | | | 239 | | | | 34,249 | |
| Jack in the Box, Inc. (Hotels, Restaurants & Leisure) | | | 334 | | | | 25,377 | |
| Jackson Financial, Inc. - Class A (Diversified Financial Services) | | | 1,179 | | | | 51,923 | |
| James River Group Holdings, Ltd. (Insurance) | | | 579 | | | | 13,120 | |
| Janus International Group, Inc.* (Building Products) | | | 1,287 | | | | 14,157 | |
| Janux Therapeutics, Inc.* (Biotechnology) | | | 270 | | | | 5,997 | |
| JELD-WEN Holding, Inc.* (Building Products) | | | 1,314 | | | | 16,622 | |
| JOANN, Inc. (Specialty Retail) | | | 174 | | | | 682 | |
| Joby Aviation, Inc.* (Airlines) | | | 4,062 | | | | 17,954 | |
| John B Sanfilippo & Son, Inc. (Food Products) | | | 141 | | | | 11,916 | |
| John Bean Technologies Corp. (Machinery) | | | 499 | | | | 55,753 | |
| John Marshall Bancorp, Inc. (Banks) | | | 182 | | | | 4,503 | |
| John Wiley & Sons, Inc. - Class A (Media) | | | 677 | | | | 31,006 | |
| Johnson Outdoors, Inc. - Class A (Leisure Products) | | | 84 | | | | 5,751 | |
| Jounce Therapeutics, Inc.* (Biotechnology) | | | 665 | | | | 778 | |
| Kadant, Inc. (Machinery) | | | 183 | | | | 37,290 | |
| Kaiser Aluminum Corp. (Metals & Mining) | | | 249 | | | | 21,792 | |
| Kaleyra, Inc.* (Software) | | | 498 | | | | 568 | |
| KalVista Pharmaceuticals, Inc.* (Biotechnology) | | | 386 | | | | 3,073 | |
| Kaman Corp. - Class A (Trading Companies & Distributors) | | | 442 | | | | 11,147 | |
| KAR Auction Services, Inc.* (Commercial Services & Supplies) | | | 1,703 | | | | 24,796 | |
| Karat Packaging, Inc. (Trading Companies & Distributors) | | | 90 | | | | 1,353 | |
| Karuna Therapeutics, Inc.* (Biotechnology) | | | 476 | | | | 94,909 | |
| Karyopharm Therapeutics, Inc.* (Biotechnology) | | | 1,228 | | | | 4,052 | |
| KB Home (Household Durables) | | | 1,218 | | | | 46,832 | |
| Kearny Financial Corp. (Thrifts & Mortgage Finance) | | | 938 | | | | 8,798 | |
| Kelly Services, Inc. - Class A (Professional Services) | | | 531 | | | | 9,611 | |
| Kennametal, Inc. (Machinery) | | | 1,283 | | | | 36,566 | |
| Kennedy-Wilson Holdings, Inc. (Real Estate Management & Development) | | | 1,862 | | | | 33,293 | |
| Keros Therapeutics, Inc.* (Biotechnology) | | | 304 | | | | 17,805 | |
| Kezar Life Sciences, Inc.* (Biotechnology) | | | 830 | | | | 5,951 | |
| Kforce, Inc. (Professional Services) | | | 312 | | | | 17,513 | |
| Kimball Electronics, Inc.* (Electronic Equipment, Instruments & Components) | | | 377 | | | | 9,621 | |
| Kimball International, Inc. - Class B (Commercial Services & Supplies) | | | 571 | | | | 4,225 | |
| Kinetik Holdings, Inc. - Class A (Oil, Gas & Consumable Fuels) | | | 261 | | | | 8,167 | |
| Kiniksa Pharmaceuticals, Ltd.* - Class A (Biotechnology) | | | 491 | | | | 7,100 | |
| Kinnate Biopharma, Inc.* (Biotechnology) | | | 461 | | | | 3,471 | |
| Kinsale Capital Group, Inc. (Insurance) | | | 341 | | | | 94,947 | |
| Kite Realty Group Trust (Equity Real Estate Investment Trusts (REITs)) | | | 3,435 | | | | 74,539 | |
See accompanying notes to schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| KKR Real Estate Finance Trust, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 900 | | | $ | 14,337 | |
| Knowles Corp.* (Electronic Equipment, Instruments & Components) | | | 1,412 | | | | 27,153 | |
| Kodiak Sciences, Inc.* (Biotechnology) | | | 525 | | | | 4,242 | |
| Kontoor Brands, Inc. (Textiles, Apparel & Luxury Goods) | | | 876 | | | | 41,838 | |
| Koppers Holdings, Inc. (Chemicals) | | | 320 | | | | 11,075 | |
| KORE Group Holdings, Inc.* (Wireless Telecommunication Services) | | | 665 | | | | 1,663 | |
| Korn Ferry (Professional Services) | | | 836 | | | | 45,136 | |
| Kosmos Energy, Ltd.* (Oil, Gas & Consumable Fuels) | | | 7,117 | | | | 56,295 | |
| Kratos Defense & Security Solutions, Inc.* (Aerospace & Defense) | | | 1,948 | | | | 22,305 | |
| Krispy Kreme, Inc. (Hotels, Restaurants & Leisure) | | | 1,132 | | | | 13,810 | |
| Kronos Bio, Inc.* (Chemicals) | | | 643 | | | | 1,543 | |
| Kronos Worldwide, Inc. (Chemicals) | | | 350 | | | | 4,078 | |
| Krystal Biotech, Inc.* (Biotechnology) | | | 336 | | | | 27,928 | |
| Kulicke & Soffa Industries, Inc. (Semiconductors & Semiconductor Equipment) | | | 900 | | | | 45,990 | |
| Kura Oncology, Inc.* (Biotechnology) | | | 1,024 | | | | 14,152 | |
| Kura Sushi USA, Inc.* - Class A (Hotels, Restaurants & Leisure) | | | 73 | | | | 4,536 | |
| Kymera Therapeutics, Inc.* (Biotechnology) | | | 596 | | | | 22,278 | |
| Ladder Capital Corp. (Mortgage Real Estate Investment Trusts (REITs)) | | | 1,791 | | | | 20,059 | |
| Lakeland Bancorp, Inc. (Banks) | | | 981 | | | | 18,904 | |
| Lakeland Financial Corp. (Banks) | | | 387 | | | | 27,365 | |
| Lancaster Colony Corp. (Food Products) | | | 306 | | | | 58,723 | |
| Lands' End, Inc.* (Internet & Direct Marketing Retail) | | | 241 | | | | 2,176 | |
| Landsea Homes Corp.* (Household Durables) | | | 149 | | | | 988 | |
| Lantheus Holdings, Inc.* (Health Care Equipment & Supplies) | | | 1,077 | | | | 61,928 | |
| Latch, Inc.* (Software) | | | 1,715 | | | | 1,577 | |
| Latham Group, Inc.* (Leisure Products) | | | 680 | | | | 2,992 | |
| Laureate Education, Inc. - Class A (Diversified Consumer Services) | | | 2,119 | | | | 23,267 | |
| Lawson Products, Inc.* (Trading Companies & Distributors) | | | 79 | | | | 3,263 | |
| La-Z-Boy, Inc. (Household Durables) | | | 678 | | | | 19,276 | |
| LCI Industries (Auto Components) | | | 392 | | | | 43,990 | |
| Leafly Holdings, Inc.* (Interactive Media & Services) | | | 483 | | | | 309 | |
| Legacy Housing Corp.* (Household Durables) | | | 137 | | | | 2,743 | |
| Legalzoom.com, Inc.* (Professional Services) | | | 1,513 | | | | 12,830 | |
| LeMaitre Vascular, Inc. (Health Care Equipment & Supplies) | | | 307 | | | | 14,484 | |
| Lemonade, Inc.* (Insurance) | | | 740 | | | | 12,047 | |
| LendingClub Corp.* (Consumer Finance) | | | 1,641 | | | | 15,901 | |
| LendingTree, Inc.* (Thrifts & Mortgage Finance) | | | 165 | | | | 6,544 | |
| Lexicon Pharmaceuticals, Inc.* (Biotechnology) | | | 1,314 | | | | 2,943 | |
| LGI Homes, Inc.* (Household Durables) | | | 324 | | | | 36,887 | |
| LHC Group, Inc.* (Health Care Providers & Services) | | | 470 | | | | 74,542 | |
| Liberty Energy, Inc. (Energy Equipment & Services) | | | 2,194 | | | | 34,731 | |
| Liberty Latin America, Ltd.* - Class A (Media) | | | 603 | | | | 5,934 | |
| Liberty Latin America, Ltd.* - Class C (Media) | | | 2,301 | | | | 22,665 | |
| Liberty Media Corp-Liberty Braves* - Class A (Entertainment) | | | 158 | | | | 5,551 | |
| Liberty Media Corp-Liberty Braves* - Class C (Entertainment) | | | 593 | | | | 20,565 | |
| Li-Cycle Holdings Corp.* (Commercial Services & Supplies) | | | 2,155 | | | | 11,723 | |
| Life Time Group Holdings, Inc.* (Hotels, Restaurants & Leisure) | | | 663 | | | | 12,458 | |
| Lifecore Biomedical, Inc.* (Food Products) | | | 413 | | | | 2,565 | |
| LifeStance Health Group, Inc.* (Health Care Providers & Services) | | | 1,140 | | | | 6,019 | |
| Lifetime Brands, Inc. (Household Durables) | | | 202 | | | | 1,618 | |
| Ligand Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 238 | | | | 16,589 | |
| Light & Wonder, Inc.* (Hotels, Restaurants & Leisure) | | | 1,488 | | | | 97,092 | |
| Lightning eMotors, Inc.* (Machinery) | | | 627 | | | | 545 | |
| Lightwave Logic, Inc.* (Electronic Equipment, Instruments & Components) | | | 1,781 | | | | 11,202 | |
| Limelight Networks, Inc.* (IT Services) | | | 2,166 | | | | 3,401 | |
| Lindblad Expeditions Holdings, Inc.* (Hotels, Restaurants & Leisure) | | | 530 | | | | 6,307 | |
| Lindsay Corp. (Machinery) | | | 173 | | | | 27,095 | |
| Lions Gate Entertainment Corp.* - Class A (Entertainment) | | | 920 | | | | 7,332 | |
| Lions Gate Entertainment Corp.* - Class B (Entertainment) | | | 1,821 | | | | 13,876 | |
| Liquidia Corp.* (Pharmaceuticals) | | | 753 | | | | 4,970 | |
| Liquidity Services, Inc.* (Internet & Direct Marketing Retail) | | | 385 | | | | 5,771 | |
| LivaNova PLC* (Health Care Equipment & Supplies) | | | 846 | | | | 47,545 | |
| Live Oak Bancshares, Inc. (Banks) | | | 516 | | | | 17,663 | |
| Livent Corp.* (Chemicals) | | | 2,554 | | | | 66,200 | |
| LivePerson, Inc.* (Software) | | | 1,109 | | | | 14,284 | |
| LiveRamp Holdings, Inc.* (Software) | | | 1,042 | | | | 27,884 | |
| LiveVox Holdings, Inc.* (Software) | | | 358 | | | | 1,042 | |
| LL Flooring Holdings, Inc.* (Specialty Retail) | | | 454 | | | | 2,751 | |
| Local Bounti Corp.* (Food Products) | | | 1,022 | | | | 981 | |
| Lordstown Motors Corp.* - Class A (Automobiles) | | | 2,780 | | | | 3,642 | |
| Loyalty Ventures, Inc.* (Media) | | | 318 | | | | 588 | |
| LSB Industries, Inc.* (Chemicals) | | | 1,165 | | | | 14,807 | |
| LTC Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 630 | | | | 24,035 | |
| Lulu's Fashion Lounge Holdings, Inc.* (Internet & Direct Marketing Retail) | | | 264 | | | | 853 | |
| Luminar Technologies, Inc.* (Auto Components) | | | 3,959 | | | | 26,407 | |
See accompanying notes to schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Luther Burbank Corp. (Thrifts & Mortgage Finance) | | | 233 | | | $ | 2,735 | |
| Luxfer Holdings PLC (Machinery) | | | 428 | | | | 7,083 | |
| LXP Industrial Trust (Equity Real Estate Investment Trusts (REITs)) | | | 4,290 | | | | 49,550 | |
| Lyell Immunopharma, Inc.* (Biotechnology) | | | 2,728 | | | | 8,921 | |
| M.D.C Holdings, Inc. (Household Durables) | | | 902 | | | | 34,060 | |
| M/I Homes, Inc.* (Household Durables) | | | 420 | | | | 25,116 | |
| Macatawa Bank Corp. (Banks) | | | 413 | | | | 4,551 | |
| MACOM Technology Solutions Holdings, Inc.* (Semiconductors & Semiconductor Equipment) | | | 797 | | | | 53,415 | |
| MacroGenics, Inc.* (Biotechnology) | | | 950 | | | | 5,482 | |
| Madison Square Garden Entertainment Corp.* (Entertainment) | | | 412 | | | | 21,544 | |
| Madrigal Pharmaceuticals, Inc.* (Biotechnology) | | | 201 | | | | 57,938 | |
| Magnite, Inc.* (Media) | | | 2,086 | | | | 25,199 | |
| Magnolia Oil & Gas Corp. (Oil, Gas & Consumable Fuels) | | | 2,749 | | | | 64,904 | |
| Malibu Boats, Inc.* (Leisure Products) | | | 320 | | | | 19,389 | |
| MannKind Corp.* (Biotechnology) | | | 4,012 | | | | 21,946 | |
| Marathon Digital Holdings, Inc.* (IT Services) | | | 1,847 | | | | 13,317 | |
| Marcus & Millichap, Inc. (Real Estate Management & Development) | | | 397 | | | | 14,387 | |
| Marine Products Corp. (Leisure Products) | | | 131 | | | | 1,742 | |
| MarineMax, Inc.* (Specialty Retail) | | | 333 | | | | 10,406 | |
| MarketWise, Inc.* (Capital Markets) | | | 270 | | | | 599 | |
| Markforged Holding Corp.* (Machinery) | | | 1,795 | | | | 2,405 | |
| Marqeta, Inc.* - Class A (IT Services) | | | 6,843 | | | | 45,369 | |
| Marten Transport, Ltd. (Road & Rail) | | | 919 | | | | 20,301 | |
| Masonite International Corp.* (Building Products) | | | 351 | | | | 32,018 | |
| MasterCraft Boat Holdings, Inc.* (Leisure Products) | | | 278 | | | | 7,995 | |
| Matador Resources Co. (Oil, Gas & Consumable Fuels) | | | 1,774 | | | | 117,367 | |
| Materion Corp. (Metals & Mining) | | | 322 | | | | 29,061 | |
| Mativ Holdings, Inc. (Paper & Forest Products) | | | 858 | | | | 23,646 | |
| Matson, Inc. (Marine) | | | 589 | | | | 38,944 | |
| Matterport, Inc.* (Software) | | | 3,533 | | | | 12,436 | |
| Matthews International Corp. - Class A (Commercial Services & Supplies) | | | 471 | | | | 17,446 | |
| Maxar Technologies, Inc. (Aerospace & Defense) | | | 1,160 | | | | 59,937 | |
| MaxCyte, Inc.* (Biotechnology) | | | 1,372 | | | | 8,012 | |
| Maximus, Inc. (IT Services) | | | 955 | | | | 71,482 | |
| MaxLinear, Inc.* - Class A (Semiconductors & Semiconductor Equipment) | | | 1,146 | | | | 47,215 | |
| MBIA, Inc.* (Insurance) | | | 757 | | | | 9,849 | |
| McGrath RentCorp (Trading Companies & Distributors) | | | 382 | | | | 38,024 | |
| MediaAlpha, Inc.* - Class A (Interactive Media & Services) | | | 389 | | | | 5,427 | |
| Medifast, Inc. (Personal Products) | | | 172 | | | | 19,169 | |
| Medpace Holdings, Inc.* (Life Sciences Tools & Services) | | | 400 | | | | 88,427 | |
| MeiraGTx Holdings PLC* (Biotechnology) | | | 477 | | | | 3,988 | |
| Mercantile Bank Corp. (Banks) | | | 243 | | | | 8,342 | |
| Merchants Bancorp (Thrifts & Mortgage Finance) | | | 248 | | | | 7,135 | |
| Mercury General Corp. (Insurance) | | | 422 | | | | 15,078 | |
| MeridianLink, Inc.* (Software) | | | 362 | | | | 5,749 | |
| Merit Medical Systems, Inc.* (Health Care Equipment & Supplies) | | | 881 | | | | 62,859 | |
| Meritage Homes Corp.* (Household Durables) | | | 572 | | | | 61,598 | |
| Mersana Therapeutics, Inc.* (Biotechnology) | | | 1,458 | | | | 9,594 | |
| Mesa Laboratories, Inc. (Health Care Equipment & Supplies) | | | 80 | | | | 15,563 | |
| Methode Electronics, Inc. (Electronic Equipment, Instruments & Components) | | | 571 | | | | 27,260 | |
| Metrocity Bankshares, Inc. (Banks) | | | 294 | | | | 5,945 | |
| Metropolitan Bank Holding Corp.* (Banks) | | | 162 | | | | 9,620 | |
| MFA Financial, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 1,618 | | | | 19,238 | |
| MGE Energy, Inc. (Electric Utilities) | | | 574 | | | | 41,965 | |
| MGP Ingredients, Inc. (Beverages) | | | 221 | | | | 21,556 | |
| MicroStrategy, Inc.* (Software) | | | 149 | | | | 37,508 | |
| Microvast Holdings, Inc.* (Machinery) | | | 2,719 | | | | 4,432 | |
| MicroVision, Inc.* (Electronic Equipment, Instruments & Components) | | | 2,611 | | | | 6,554 | |
| Mid Penn Bancorp, Inc. (Banks) | | | 226 | | | | 7,112 | |
| Middlesex Water Co. (Water Utilities) | | | 274 | | | | 22,978 | |
| Midland States Bancorp, Inc. (Banks) | | | 334 | | | | 8,510 | |
| MidWestOne Financial Group, Inc. (Banks) | | | 223 | | | | 6,946 | |
| Miller Industries, Inc. (Machinery) | | | 174 | | | | 5,048 | |
| MillerKnoll, Inc. (Commercial Services & Supplies) | | | 1,198 | | | | 28,608 | |
| MiMedx Group, Inc.* (Biotechnology) | | | 1,779 | | | | 6,885 | |
| Minerals Technologies, Inc. (Chemicals) | | | 510 | | | | 35,420 | |
| Mirion Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 2,159 | | | | 17,164 | |
| Mirum Pharmaceuticals, Inc.* (Biotechnology) | | | 290 | | | | 6,809 | |
| Mission Produce, Inc.* (Food Products) | | | 632 | | | | 7,875 | |
| Mitek System, Inc.* (Software) | | | 665 | | | | 6,557 | |
| Model N, Inc.* (Software) | | | 578 | | | | 22,923 | |
| Modine Manufacturing Co.* (Auto Components) | | | 784 | | | | 18,730 | |
| ModivCare, Inc.* (Health Care Providers & Services) | | | 199 | | | | 21,345 | |
| Moelis & Co. (Capital Markets) | | | 1,005 | | | | 46,984 | |
| Momentive Global, Inc.* (Software) | | | 2,054 | | | | 15,836 | |
| Momentus, Inc.* (Aerospace & Defense) | | | 886 | | | | 802 | |
| Monarch Casino & Resort, Inc.* (Hotels, Restaurants & Leisure) | | | 209 | | | | 16,014 | |
| MoneyGram International, Inc.* (IT Services) | | | 1,478 | | | | 15,918 | |
| Moneylion, Inc.* (IT Services) | | | 2,300 | | | | 1,810 | |
| Monro, Inc. (Specialty Retail) | | | 492 | | | | 25,043 | |
| Montauk Renewables, Inc.* (Independent Power and Renewable Electricity Producers) | | | 1,015 | | | | 11,277 | |
| Monte Rosa Therapeutics, Inc.* (Biotechnology) | | | 469 | | | | 3,471 | |
See accompanying notes to schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Montrose Environmental Group, Inc.* (Commercial Services & Supplies) | | | 433 | | | $ | 23,451 | |
| Moog, Inc. - Class A (Aerospace & Defense) | | | 451 | | | | 42,989 | |
| Morphic Holding, Inc.* (Biotechnology) | | | 406 | | | | 13,288 | |
| Motorcar Parts of America, Inc.* (Auto Components) | | | 300 | | | | 4,368 | |
| Movado Group, Inc. (Textiles, Apparel & Luxury Goods) | | | 243 | | | | 8,592 | |
| Mr. Cooper Group, Inc.* (Thrifts & Mortgage Finance) | | | 1,093 | | | | 50,267 | |
| MRC Global, Inc.* (Trading Companies & Distributors) | | | 1,309 | | | | 17,802 | |
| Mueller Industries, Inc. (Machinery) | | | 882 | | | | 57,815 | |
| Mueller Water Products, Inc. - Class A (Machinery) | | | 2,457 | | | | 31,081 | |
| Mullen Automotive, Inc.* (Software) | | | 5,209 | | | | 1,791 | |
| Multiplan Corp.* (Health Care Technology) | | | 5,957 | | | | 7,863 | |
| Murphy Oil Corp. (Oil, Gas & Consumable Fuels) | | | 2,323 | | | | 101,306 | |
| Murphy USA, Inc. (Specialty Retail) | | | 330 | | | | 89,770 | |
| MVB Financial Corp. (Banks) | | | 161 | | | | 3,555 | |
| Myers Industries, Inc. (Containers & Packaging) | | | 571 | | | | 13,750 | |
| MYR Group, Inc.* (Construction & Engineering) | | | 258 | | | | 25,557 | |
| Myriad Genetics, Inc.* (Biotechnology) | | | 1,253 | | | | 24,709 | |
| N-able, Inc.* (Software) | | | 1,074 | | | | 11,030 | |
| Nabors Industries, Ltd.* (Energy Equipment & Services) | | | 143 | | | | 25,388 | |
| NACCO Industries, Inc. - Class A (Oil, Gas & Consumable Fuels) | | | 64 | | | | 2,494 | |
| NanoString Technologies, Inc.* (Life Sciences Tools & Services) | | | 732 | | | | 7,745 | |
| Nano-X Imaging, Ltd.* (Health Care Equipment & Supplies) | | | 721 | | | | 6,648 | |
| Napco Security Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 463 | | | | 13,413 | |
| National Bank Holdings Corp. (Banks) | | | 460 | | | | 19,426 | |
| National Beverage Corp.* (Beverages) | | | 372 | | | | 16,442 | |
| National Energy Services Reunited Corp.* (Energy Equipment & Services) | | | 602 | | | | 4,551 | |
| National Health Investors, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 658 | | | | 38,710 | |
| National Healthcare Corp. (Health Care Providers & Services) | | | 197 | | | | 11,729 | |
| National Presto Industries, Inc. (Aerospace & Defense) | | | 80 | | | | 6,129 | |
| National Research Corp. (Health Care Providers & Services) | | | 222 | | | | 10,305 | |
| National Vision Holdings, Inc.* (Specialty Retail) | | | 1,237 | | | | 50,841 | |
| National Western Life Group, Inc. - Class A (Insurance) | | | 36 | | | | 9,965 | |
| Natural Grocers by Vitamin Cottage, Inc. (Food & Staples Retailing) | | | 146 | | | | 1,450 | |
| Nature's Sunshine Products, Inc.* (Personal Products) | | | 212 | | | | 2,239 | |
| Nautilus Biotechnology, Inc.* (Life Sciences Tools & Services) | | | 753 | | | | 1,476 | |
| Navient Corp. (Consumer Finance) | | | 1,678 | | | | 31,831 | |
| NBT Bancorp, Inc. (Banks) | | | 659 | | | | 25,905 | |
| Nektar Therapeutics* (Pharmaceuticals) | | | 2,861 | | | | 7,782 | |
| Nelnet, Inc. - Class A (Consumer Finance) | | | 230 | | | | 21,963 | |
| NEOGAMES SA* (Hotels, Restaurants & Leisure) | | | 205 | | | | 2,645 | |
| Neogen Corp.* (Health Care Equipment & Supplies) | | | 3,420 | | | | 73,221 | |
| NeoGenomics, Inc.* (Life Sciences Tools & Services) | | | 1,984 | | | | 23,570 | |
| NerdWallet, Inc.* - Class A (Interactive Media & Services) | | | 410 | | | | 4,793 | |
| Nerdy, Inc.* (Diversified Consumer Services) | | | 881 | | | | 2,502 | |
| NETGEAR, Inc.* (Communications Equipment) | | | 447 | | | | 8,927 | |
| NetScout Systems, Inc.* (Communications Equipment) | | | 1,089 | | | | 34,957 | |
| NETSTREIT Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 868 | | | | 17,473 | |
| Nevro Corp.* (Health Care Equipment & Supplies) | | | 550 | | | | 20,196 | |
| New Jersey Resources Corp. (Gas Utilities) | | | 1,518 | | | | 75,778 | |
| New York Mortgage Trust, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 5,834 | | | | 18,202 | |
| Newmark Group, Inc. (Real Estate Management & Development) | | | 2,130 | | | | 18,254 | |
| Newpark Resources, Inc.* (Energy Equipment & Services) | | | 1,361 | | | | 6,179 | |
| Nexpoint Real Estate Finance, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 126 | | | | 2,400 | |
| NexPoint Residential Trust, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 356 | | | | 17,978 | |
| NextDecade Corp.* (Oil, Gas & Consumable Fuels) | | | 571 | | | | 3,420 | |
| NextGen Healthcare, Inc.* (Health Care Technology) | | | 892 | | | | 16,966 | |
| NexTier Oilfield Solutions, Inc.* (Energy Equipment & Services) | | | 2,768 | | | | 26,075 | |
| NextNav, Inc.* (Software) | | | 1,057 | | | | 3,129 | |
| NGM Biopharmaceuticals, Inc.* (Pharmaceuticals) | | | 638 | | | | 3,343 | |
| NI Holdings, Inc.* (Insurance) | | | 133 | | | | 1,762 | |
| Nicolet Bankshares, Inc.* (Banks) | | | 194 | | | | 14,141 | |
| Nikola Corp.* (Machinery) | | | 5,342 | | | | 14,477 | |
| Nkarta, Inc.* (Biotechnology) | | | 516 | | | | 2,750 | |
| NL Industries, Inc. (Commercial Services & Supplies) | | | 132 | | | | 932 | |
| nLight, Inc.* (Electronic Equipment, Instruments & Components) | | | 700 | | | | 8,680 | |
| NMI Holdings, Inc.* - Class A (Thrifts & Mortgage Finance) | | | 1,294 | | | | 30,060 | |
| Noble Corp. PLC* (Energy Equipment & Services) | | | 1,329 | | | | 54,077 | |
| Noodles & Co.* (Hotels, Restaurants & Leisure) | | | 645 | | | | 4,057 | |
| Nordic American Tankers, Ltd. (Oil, Gas & Consumable Fuels) | | | 3,237 | | | | 9,840 | |
See accompanying notes to schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Northeast Bank (Banks) | | | 103 | | | $ | 4,862 | |
| Northern Oil And Gas, Inc. (Oil, Gas & Consumable Fuels) | | | 1,041 | | | | 34,894 | |
| Northfield Bancorp, Inc. (Thrifts & Mortgage Finance) | | | 674 | | | | 10,076 | |
| Northwest Bancshares, Inc. (Banks) | | | 1,915 | | | | 27,078 | |
| Northwest Natural Holding Co. (Gas Utilities) | | | 546 | | | | 27,376 | |
| Northwest Pipe Co.* (Construction & Engineering) | | | 154 | | | | 5,760 | |
| NorthWestern Corp. (Multi-Utilities) | | | 914 | | | | 51,915 | |
| Novagold Resources, Inc.* (Metals & Mining) | | | 3,770 | | | | 23,789 | |
| Novanta, Inc.* (Electronic Equipment, Instruments & Components) | | | 560 | | | | 90,423 | |
| NOW, Inc.* (Trading Companies & Distributors) | | | 1,738 | | | | 24,402 | |
| Nu Skin Enterprises, Inc. - Class A (Personal Products) | | | 775 | | | | 33,232 | |
| Nurix Therapeutics, Inc.* (Biotechnology) | | | 731 | | | | 8,984 | |
| NuScale Power Corp.* (Electrical Equipment) | | | 494 | | | | 5,266 | |
| Nutex Health, Inc.* (Health Care Technology) | | | 3,951 | | | | 5,294 | |
| Nuvalent, Inc.* - Class A (Biotechnology) | | | 317 | | | | 9,589 | |
| NuVasive, Inc.* (Health Care Equipment & Supplies) | | | 825 | | | | 37,620 | |
| Nuvation Bio, Inc.* (Pharmaceuticals) | | | 1,836 | | | | 4,517 | |
| NV5 Global, Inc.* (Construction & Engineering) | | | 213 | | | | 28,391 | |
| Oceaneering International, Inc.* (Energy Equipment & Services) | | | 1,576 | | | | 33,648 | |
| Oceanfirst Financial Corp. (Thrifts & Mortgage Finance) | | | 914 | | | | 21,863 | |
| Ocugen, Inc.* (Biotechnology) | | | 3,425 | | | | 4,350 | |
| Ocular Therapeutix, Inc.* (Pharmaceuticals) | | | 1,215 | | | | 4,751 | |
| Offerpad Solutions, Inc.* (Real Estate Management & Development) | | | 1,078 | | | | 989 | |
| Office Properties Income Trust (Equity Real Estate Investment Trusts (REITs)) | | | 756 | | | | 12,973 | |
| OFG Bancorp (Banks) | | | 735 | | | | 20,808 | |
| O-I Glass, Inc.* (Containers & Packaging) | | | 2,453 | | | | 47,220 | |
| Oil States International, Inc.* (Energy Equipment & Services) | | | 992 | | | | 8,492 | |
| Old National Bancorp (Banks) | | | 4,623 | | | | 80,903 | |
| Old Second Bancorp, Inc. (Banks) | | | 668 | | | | 11,349 | |
| Olo, Inc.* - Class A (Software) | | | 1,418 | | | | 11,372 | |
| Olympic Steel, Inc. (Metals & Mining) | | | 151 | | | | 6,680 | |
| Omega Flex, Inc. (Machinery) | | | 52 | | | | 5,528 | |
| OmniAb, Inc.* (Life Sciences Tools & Services) | | | 1,215 | | | | 5,030 | |
| Omnicell, Inc.* (Health Care Equipment & Supplies) | | | 699 | | | | 38,774 | |
| ON24, Inc.* (Software) | | | 655 | | | | 6,078 | |
| Ondas Holdings, Inc.* (Communications Equipment) | | | 562 | | | | 1,118 | |
| ONE Gas, Inc. (Gas Utilities) | | | 848 | | | | 69,841 | |
| One Liberty Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 257 | | | | 6,196 | |
| OneSpan, Inc.* (Software) | | | 625 | | | | 8,631 | |
| OneSpaWorld Holdings, Ltd.* (Diversified Consumer Services) | | | 1,047 | | | | 11,004 | |
| Onewater Marine, Inc.* (Specialty Retail) | | | 177 | | | | 5,795 | |
| Onto Innovation, Inc.* (Semiconductors & Semiconductor Equipment) | | | 781 | | | | 61,426 | |
| Ooma, Inc.* (Diversified Telecommunication Services) | | | 361 | | | | 5,188 | |
| Open Lending Corp.* - Class A (Capital Markets) | | | 1,662 | | | | 14,576 | |
| OPKO Health, Inc.* (Biotechnology) | | | 6,364 | | | | 8,210 | |
| Oportun Financial Corp.* (Consumer Finance) | | | 444 | | | | 3,112 | |
| Oppenheimer Holdings, Inc. - Class A (Capital Markets) | | | 125 | | | | 5,951 | |
| OppFi, Inc.* (Consumer Finance) | | | 219 | | | | 504 | |
| OptimizeRx Corp.* (Health Care Technology) | | | 264 | | | | 4,739 | |
| Option Care Health, Inc.* (Health Care Providers & Services) | | | 2,464 | | | | 71,136 | |
| OraSure Technologies, Inc.* (Health Care Equipment & Supplies) | | | 1,132 | | | | 6,317 | |
| Orchid Island Capital, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 530 | | | | 6,461 | |
| Organogenesis Holdings, Inc.* (Biotechnology) | | | 1,119 | | | | 2,865 | |
| Origin Bancorp, Inc. (Banks) | | | 354 | | | | 13,275 | |
| Origin Materials, Inc.* (Chemicals) | | | 1,656 | | | | 10,019 | |
| Orion Engineered Carbons SA (Chemicals) | | | 953 | | | | 20,032 | |
| Orion Office REIT, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 899 | | | | 8,675 | |
| Ormat Technologies, Inc. (Independent Power and Renewable Electricity Producers) | | | 775 | | | | 71,727 | |
| Orrstown Financial Services, Inc. (Banks) | | | 161 | | | | 3,985 | |
| Orthofix Medical, Inc.* (Health Care Equipment & Supplies) | | | 547 | | | | 11,832 | |
| OrthoPediatrics Corp.* (Health Care Equipment & Supplies) | | | 239 | | | | 11,264 | |
| Oscar Health, Inc.* - Class A (Insurance) | | | 1,903 | | | | 7,308 | |
| OSI Systems, Inc.* (Electronic Equipment, Instruments & Components) | | | 253 | | | | 23,962 | |
| Otter Tail Corp. (Electric Utilities) | | | 648 | | | | 41,569 | |
| Ouster, Inc.* (Electronic Equipment, Instruments & Components) | | | 2,289 | | | | 3,273 | |
| Outbrain, Inc.* (Interactive Media & Services) | | | 576 | | | | 2,834 | |
| Outfront Media, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 2,308 | | | | 45,929 | |
| Outlook Therapeutics, Inc.* (Biotechnology) | | | 1,868 | | | | 2,148 | |
| Outset Medical, Inc.* (Health Care Equipment & Supplies) | | | 764 | | | | 21,484 | |
| Overstock.com, Inc.* (Internet & Direct Marketing Retail) | | | 671 | | | | 16,245 | |
| Owens & Minor, Inc.* (Health Care Providers & Services) | | | 1,163 | | | | 22,958 | |
| Owlet, Inc.* (Health Care Equipment & Supplies) | | | 261 | | | | 107 | |
| Oxford Industries, Inc. (Textiles, Apparel & Luxury Goods) | | | 238 | | | | 27,898 | |
| P3 Health Partners, Inc.* (Health Care Providers & Services) | | | 383 | | | | 494 | |
See accompanying notes to schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Pacific Biosciences of California, Inc.* (Life Sciences Tools & Services) | | | 3,560 | | | $ | 39,479 | |
| Pacific Premier Bancorp, Inc. (Banks) | | | 1,478 | | | | 47,799 | |
| Pacira BioSciences, Inc.* (Pharmaceuticals) | | | 709 | | | | 27,842 | |
| Pactiv Evergreen, Inc. (Containers & Packaging) | | | 681 | | | | 7,838 | |
| PagerDuty, Inc.* (Software) | | | 1,363 | | | | 40,604 | |
| Palomar Holdings, Inc.* (Insurance) | | | 382 | | | | 19,524 | |
| PAM Transportation Services, Inc. (Road & Rail) | | | 104 | | | | 3,011 | |
| Papa John's International, Inc. (Hotels, Restaurants & Leisure) | | | 514 | | | | 46,101 | |
| Par Pacific Holdings, Inc.* (Oil, Gas & Consumable Fuels) | | | 771 | | | | 20,609 | |
| PAR Technology Corp.* (Electronic Equipment, Instruments & Components) | | | 418 | | | | 14,208 | |
| Paragon 28, Inc.* (Health Care Equipment & Supplies) | | | 726 | | | | 12,233 | |
| Paramount Group, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 2,952 | | | | 19,040 | |
| Pardes Biosciences, Inc.* (Biotechnology) | | | 543 | | | | 1,124 | |
| Park Aerospace Corp. (Aerospace & Defense) | | | 309 | | | | 4,298 | |
| Park National Corp. (Banks) | | | 226 | | | | 28,307 | |
| Parke Bancorp, Inc. (Banks) | | | 160 | | | | 3,313 | |
| Parsons Corp.* (Aerospace & Defense) | | | 530 | | �� | | 23,066 | |
| Pathward Financial, Inc. (Banks) | | | 452 | | | | 22,428 | |
| Patrick Industries, Inc. (Auto Components) | | | 341 | | | | 24,201 | |
| Patterson Cos., Inc. (Health Care Providers & Services) | | | 1,374 | | | | 41,481 | |
| Patterson-UTI Energy, Inc. (Energy Equipment & Services) | | | 3,381 | | | | 56,801 | |
| Paya Holdings, Inc.* (IT Services) | | | 1,380 | | | | 13,414 | |
| Payoneer Global, Inc.* (IT Services) | | | 3,477 | | | | 20,723 | |
| Paysafe, Ltd.* (IT Services) | | | 444 | | | | 9,342 | |
| PBF Energy, Inc. - Class A (Oil, Gas & Consumable Fuels) | | | 1,547 | | | | 64,959 | |
| PC Connection, Inc. (Electronic Equipment, Instruments & Components) | | | 177 | | | | 8,678 | |
| PCB Bancorp (Banks) | | | 182 | | | | 3,380 | |
| PDF Solutions, Inc.* (Semiconductors & Semiconductor Equipment) | | | 474 | | | | 15,064 | |
| Peabody Energy Corp.* (Oil, Gas & Consumable Fuels) | | | 1,856 | | | | 51,764 | |
| Peapack Gladstone Financial Corp. (Banks) | | | 269 | | | | 9,977 | |
| Pear Therapeutics, Inc.* (Health Care Technology) | | | 1,082 | | | | 1,179 | |
| Pebblebrook Hotel Trust (Equity Real Estate Investment Trusts (REITs)) | | | 2,047 | | | | 33,571 | |
| Pediatrix Medical Group, Inc.* (Health Care Providers & Services) | | | 1,289 | | | | 19,786 | |
| Pennymac Financial Services, Inc. (Thrifts & Mortgage Finance) | | | 423 | | | | 28,519 | |
| PennyMac Mortgage Investment Trust (Mortgage Real Estate Investment Trusts (REITs)) | | | 1,402 | | | | 21,381 | |
| Peoples Bancorp, Inc. (Banks) | | | 438 | | | | 12,995 | |
| Peoples Financial Services Corp. (Banks) | | | 110 | | | | 5,608 | |
| PepGen, Inc.* (Biotechnology) | | | 237 | | | | 3,702 | |
| Perdoceo Education Corp.* (Diversified Consumer Services) | | | 1,060 | | | | 15,868 | |
| Perella Weinberg Partners (Capital Markets) | | | 581 | | | | 5,955 | |
| Perficient, Inc.* (IT Services) | | | 539 | | | | 39,961 | |
| Perimeter Solutions SA* (Chemicals) | | | 1,850 | | | | 17,205 | |
| Permian Resources Corp. (Oil, Gas & Consumable Fuels) | | | 3,276 | | | | 35,610 | |
| Petiq, Inc.* (Health Care Providers & Services) | | | 427 | | | | 5,056 | |
| PetMed Express, Inc. (Internet & Direct Marketing Retail) | | | 318 | | | | 6,831 | |
| PFSweb, Inc. (IT Services) | | | 266 | | | | 1,772 | |
| PGT Innovations, Inc.* (Building Products) | | | 910 | | | | 19,747 | |
| Phathom Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 387 | | | | 4,617 | |
| Phibro Animal Health Corp. - Class A (Pharmaceuticals) | | | 321 | | | | 4,943 | |
| Phillips Edison & Co., Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,847 | | | | 61,911 | |
| Photronics, Inc.* (Semiconductors & Semiconductor Equipment) | | | 945 | | | | 17,123 | |
| Phreesia, Inc.* (Health Care Technology) | | | 782 | | | | 29,317 | |
| Physicians Realty Trust (Equity Real Estate Investment Trusts (REITs)) | | | 3,593 | | | | 56,985 | |
| Piedmont Lithium, Inc.* (Metals & Mining) | | | 274 | | | | 18,807 | |
| Piedmont Office Realty Trust, Inc. - Class A (Equity Real Estate Investment Trusts (REITs)) | | | 1,938 | | | | 20,543 | |
| Pioneer Bancorp, Inc.* (Thrifts & Mortgage Finance) | | | 183 | | | | 2,059 | |
| Piper Sandler Cos. (Capital Markets) | | | 274 | | | | 38,935 | |
| Pitney Bowes, Inc. (Commercial Services & Supplies) | | | 2,730 | | | | 11,766 | |
| PJT Partners, Inc. - Class A (Capital Markets) | | | 372 | | | | 29,771 | |
| Planet Labs PBC* (Professional Services) | | | 2,452 | | | | 12,137 | |
| Playstudios, Inc.* (Entertainment) | | | 1,249 | | | | 5,770 | |
| PLBY Group, Inc.* (Textiles, Apparel & Luxury Goods) | | | 644 | | | | 1,880 | |
| Plexus Corp.* (Electronic Equipment, Instruments & Components) | | | 433 | | | | 41,564 | |
| Plymouth Industrial REIT, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 593 | | | | 13,271 | |
| PMV Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 581 | | | | 4,764 | |
| PNM Resources, Inc. (Electric Utilities) | | | 1,347 | | | | 66,650 | |
| Point Biopharma Global, Inc.* (Biotechnology) | | | 1,348 | | | | 10,784 | |
| PolyMet Mining Corp.* (Metals & Mining) | | | 462 | | | | 1,210 | |
| Porch Group, Inc.* (Internet & Direct Marketing Retail) | | | 1,294 | | | | 3,817 | |
| Portillo's, Inc.* - Class A (Hotels, Restaurants & Leisure) | | | 438 | | | | 9,881 | |
| Portland General Electric Co. (Electric Utilities) | | | 1,411 | | | | 67,135 | |
| Postal Realty Trust, Inc. - Class A (Equity Real Estate Investment Trusts (REITs)) | | | 282 | | | | 4,360 | |
| PotlatchDeltic Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 1,254 | | | | 61,383 | |
See accompanying notes to schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Powell Industries, Inc. (Electrical Equipment) | | | 144 | | | $ | 5,717 | |
| Power Integrations, Inc. (Semiconductors & Semiconductor Equipment) | | | 894 | | | | 76,964 | |
| PowerSchool Holdings, Inc.* (Diversified Consumer Services) | | | 719 | | | | 16,192 | |
| PRA Group, Inc.* (Consumer Finance) | | | 607 | | | | 24,425 | |
| Praxis Precision Medicines, Inc.* (Biotechnology) | | | 619 | | | | 3,083 | |
| Precigen, Inc.* (Biotechnology) | | | 1,592 | | | | 2,579 | |
| Preferred Bank (Banks) | | | 209 | | | | 14,866 | |
| Preformed Line Products Co. (Electrical Equipment) | | | 39 | | | | 3,445 | |
| Premier Financial Corp. (Thrifts & Mortgage Finance) | | | 558 | | | | 13,961 | |
| Prestige Consumer Healthcare, Inc.* (Pharmaceuticals) | | | 785 | | | | 51,622 | |
| PriceSmart, Inc. (Food & Staples Retailing) | | | 388 | | | | 28,832 | |
| Prime Medicine, Inc.* (Biotechnology) | | | 163 | | | | 2,866 | |
| Primis Financial Corp. (Banks) | | | 350 | | | | 4,144 | |
| Primo Water Corp. (Beverages) | | | 2,483 | | | | 38,859 | |
| Primoris Services Corp. (Construction & Engineering) | | | 836 | | | | 22,238 | |
| Priority Technology Holdings, Inc.* (IT Services) | | | 279 | | | | 1,342 | |
| Privia Health Group, Inc.* (Health Care Providers & Services) | | | 722 | | | | 19,523 | |
| ProAssurance Corp. (Insurance) | | | 850 | | | | 16,482 | |
| PROCEPT BioRobotics Corp.* (Health Care Equipment & Supplies) | | | 408 | | | | 15,867 | |
| ProFrac Holding Corp.* - Class A (Energy Equipment & Services) | | | 369 | | | | 8,303 | |
| PROG Holdings, Inc.* (Consumer Finance) | | | 788 | | | | 17,565 | |
| Progress Software Corp. (Software) | | | 677 | | | | 35,908 | |
| Progyny, Inc.* (Health Care Providers & Services) | | | 1,191 | | | | 40,958 | |
| Prometheus Biosciences, Inc.* (Biotechnology) | | | 548 | | | | 62,285 | |
| ProPetro Holding Corp.* (Energy Equipment & Services) | | | 1,377 | | | | 13,701 | |
| PROS Holdings, Inc.* (Software) | | | 645 | | | | 16,254 | |
| Protagonist Therapeutics, Inc.* (Biotechnology) | | | 734 | | | | 9,755 | |
| Proterra, Inc.* (Machinery) | | | 3,525 | | | | 17,978 | |
| Prothena Corp. PLC* (Biotechnology) | | | 578 | | | | 32,686 | |
| Proto Labs, Inc.* (Machinery) | | | 428 | | | | 13,097 | |
| Provention Bio, Inc.* (Pharmaceuticals) | | | 994 | | | | 8,608 | |
| Provident BanCorp, Inc. (Thrifts & Mortgage Finance) | | | 228 | | | | 2,057 | |
| Provident Financial Services, Inc. (Thrifts & Mortgage Finance) | | | 1,153 | | | | 27,049 | |
| PTC Therapeutics, Inc.* (Biotechnology) | | | 1,107 | | | | 50,800 | |
| PubMatic, Inc.* - Class A (Media) | | | 680 | | | | 10,424 | |
| Pulmonx Corp.* (Health Care Equipment & Supplies) | | | 539 | | | | 4,792 | |
| Pure Cycle Corp.* (Water Utilities) | | | 306 | | | | 2,745 | |
| PureCycle Technologies, Inc.* (Chemicals) | | | 1,675 | | | | 14,037 | |
| Purple Innovation, Inc.* (Household Durables) | | | 865 | | | | 5,017 | |
| Q2 Holdings, Inc.* (Software) | | | 880 | | | | 28,794 | |
| QCR Holdings, Inc. (Banks) | | | 249 | | | | 13,087 | |
| Quad/Graphics, Inc.* (Commercial Services & Supplies) | | | 512 | | | | 2,258 | |
| Quaker Chemical Corp. (Chemicals) | | | 213 | | | | 41,933 | |
| Qualys, Inc.* (Software) | | | 607 | | | | 70,024 | |
| Quanex Building Products Corp. (Building Products) | | | 521 | | | | 13,489 | |
| Quanterix Corp.* (Life Sciences Tools & Services) | | | 535 | | | | 7,560 | |
| Quantum-Si, Inc.* (Life Sciences Tools & Services) | | | 1,441 | | | | 3,199 | |
| QuinStreet, Inc.* (Interactive Media & Services) | | | 799 | | | | 12,249 | |
| Quotient Technology, Inc.* (Internet & Direct Marketing Retail) | | | 1,429 | | | | 5,787 | |
| Qurate Retail, Inc.* - Class A (Internet & Direct Marketing Retail) | | | 5,520 | | | | 14,242 | |
| R1 RCM, Inc.* (Health Care Providers & Services) | | | 2,369 | | | | 33,900 | |
| Rackspace Technology, Inc.* (IT Services) | | | 909 | | | | 2,727 | |
| Radian Group, Inc. (Thrifts & Mortgage Finance) | | | 2,482 | | | | 54,852 | |
| Radiant Logistics, Inc.* (Air Freight & Logistics) | | | 584 | | | | 3,276 | |
| Radius Global Infrastructure, Inc.* - Class A (Diversified Telecommunication Services) | | | 1,210 | | | | 16,299 | |
| RadNet, Inc.* (Health Care Providers & Services) | | | 786 | | | | 16,545 | |
| Rallybio Corp.* (Biotechnology) | | | 290 | | | | 2,013 | |
| Ramaco Resources, Inc. (Metals & Mining) | | | 354 | | | | 3,692 | |
| Rambus, Inc.* (Semiconductors & Semiconductor Equipment) | | | 1,684 | | | | 68,151 | |
| Ranger Oil Corp. (Oil, Gas & Consumable Fuels) | | | 303 | | | | 12,726 | |
| Ranpak Holdings Corp.* (Containers & Packaging) | | | 685 | | | | 5,247 | |
| Rapid7, Inc.* (Software) | | | 930 | | | | 37,079 | |
| RAPT Therapeutics, Inc.* (Biotechnology) | | | 414 | | | | 12,027 | |
| Rayonier Advanced Materials, Inc.* (Chemicals) | | | 974 | | | | 6,750 | |
| RBB Bancorp (Banks) | | | 231 | | | | 4,652 | |
| RBC Bearings, Inc.* (Machinery) | | | 449 | | | | 109,542 | |
| RCI Hospitality Holdings, Inc. (Hotels, Restaurants & Leisure) | | | 136 | | | | 12,347 | |
| RE/MAX Holdings, Inc. (Real Estate Management & Development) | | | 280 | | | | 6,387 | |
| Ready Capital Corp. (Mortgage Real Estate Investment Trusts (REITs)) | | | 1,129 | | | | 14,937 | |
| Realogy Holdings Corp.* (Real Estate Management & Development) | | | 1,693 | | | | 14,357 | |
| Reata Pharmaceuticals, Inc.* - Class A (Pharmaceuticals) | | | 436 | | | | 18,892 | |
| Recursion Pharmaceuticals, Inc.* - Class A (Biotechnology) | | | 2,154 | | | | 17,943 | |
| Red River Bancshares, Inc. (Banks) | | | 69 | | | | 3,512 | |
| Red Rock Resorts, Inc. - Class A (Hotels, Restaurants & Leisure) | | | 799 | | | | 35,963 | |
| Red Violet, Inc.* (Professional Services) | | | 153 | | | | 3,638 | |
See accompanying notes to schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Redfin Corp.* (Real Estate Management & Development) | | | 1,676 | | | $ | 12,536 | |
| Redwire Corp.* (Aerospace & Defense) | | | 312 | | | | 799 | |
| Redwood Trust, Inc. (Mortgage Real Estate Investment Trusts (REITs)) | | | 1,785 | | | | 14,923 | |
| REGENXBIO, Inc.* (Biotechnology) | | | 633 | | | | 14,692 | |
| Regional Management Corp. (Consumer Finance) | | | 121 | | | | 4,173 | |
| Relay Therapeutics, Inc.* (Biotechnology) | | | 1,341 | | | | 28,778 | |
| Relmada Therapeutics, Inc.* (Pharmaceuticals) | | | 433 | | | | 1,758 | |
| Remitly Global, Inc.* (IT Services) | | | 1,580 | | | | 19,055 | |
| Renasant Corp. (Banks) | | | 863 | | | | 30,706 | |
| Rent the Runway, Inc.* - Class A (Internet & Direct Marketing Retail) | | | 747 | | | | 3,205 | |
| Rent-A-Center, Inc. (Specialty Retail) | | | 787 | | | | 21,162 | |
| Repay Holdings Corp.* (IT Services) | | | 1,381 | | | | 13,451 | |
| Replimune Group, Inc.* (Biotechnology) | | | 640 | | | | 17,824 | |
| Republic Bancorp, Inc. - Class A (Banks) | | | 137 | | | | 6,162 | |
| Republic First Bancorp, Inc.* (Banks) | | | 888 | | | | 1,954 | |
| Reservoir Media, Inc.* (Entertainment) | | | 323 | | | | 2,274 | |
| Resideo Technologies, Inc.* (Building Products) | | | 2,279 | | | | 43,825 | |
| Resolute Forest Products, Inc.* (Paper & Forest Products) | | | 724 | | | | 15,718 | |
| Resources Connection, Inc. (Professional Services) | | | 506 | | | | 8,739 | |
| Retail Opportunity Investments Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 1,901 | | | | 30,093 | |
| REV Group, Inc. (Machinery) | | | 518 | | | | 6,636 | |
| Revance Therapeutics, Inc.* (Pharmaceuticals) | | | 1,273 | | | | 44,148 | |
| REVOLUTION Medicines, Inc.* (Biotechnology) | | | 1,188 | | | | 31,767 | |
| Revolve Group, Inc.* (Internet & Direct Marketing Retail) | | | 643 | | | | 18,351 | |
| REX American Resources Corp.* (Oil, Gas & Consumable Fuels) | | | 249 | | | | 8,147 | |
| Ribbon Communications, Inc.* (Communications Equipment) | | | 1,141 | | | | 4,005 | |
| Rigel Pharmaceuticals, Inc.* (Biotechnology) | | | 2,721 | | | | 4,462 | |
| Rigetti Computing, Inc.* (Semiconductors & Semiconductor Equipment) | | | 1,239 | | | | 967 | |
| Riley Exploration Permian, Inc. (Oil, Gas & Consumable Fuels) | | | 167 | | | | 5,543 | |
| Rimini Street, Inc.* (Software) | | | 779 | | | | 3,506 | |
| Ring Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 1,487 | | | | 3,509 | |
| Riot Platforms, Inc.* (Software) | | | 2,500 | | | | 15,675 | |
| Rite Aid Corp.* (Food & Staples Retailing) | | | 875 | | | | 3,194 | |
| RLI Corp. (Insurance) | | | 615 | | | | 81,457 | |
| RLJ Lodging Trust (Equity Real Estate Investment Trusts (REITs)) | | | 2,528 | | | | 31,777 | |
| Rocket Lab USA, Inc.* (Aerospace & Defense) | | | 3,400 | | | | 16,898 | |
| Rocket Pharmaceuticals, Inc.* (Biotechnology) | | | 847 | | | | 18,405 | |
| Rocky Brands, Inc. (Textiles, Apparel & Luxury Goods) | | | 109 | | | | 3,431 | |
| Rogers Corp.* (Electronic Equipment, Instruments & Components) | | | 295 | | | | 41,179 | |
| Root, Inc.* - Class A (Insurance) | | | 123 | | | | 723 | |
| Rover Group, Inc.* (Diversified Consumer Services) | | | 1,478 | | | | 6,045 | |
| RPC, Inc. (Energy Equipment & Services) | | | 1,172 | | | | 11,626 | |
| RPT Realty (Equity Real Estate Investment Trusts (REITs)) | | | 1,332 | | | | 13,959 | |
| RumbleON, Inc.* - Class B (Internet & Direct Marketing Retail) | | | 166 | | | | 1,396 | |
| Rush Enterprises, Inc. - Class A (Trading Companies & Distributors) | | | 656 | | | | 35,299 | |
| Rush Enterprises, Inc. - Class B (Trading Companies & Distributors) | | | 103 | | | | 5,992 | |
| Rush Street Interactive, Inc.* (Hotels, Restaurants & Leisure) | | | 958 | | | | 4,110 | |
| Ruth's Hospitality Group, Inc. (Hotels, Restaurants & Leisure) | | | 498 | | | | 8,620 | |
| RxSight, Inc.* (Health Care Equipment & Supplies) | | | 325 | | | | 4,550 | |
| Ryerson Holding Corp. (Metals & Mining) | | | 306 | | | | 11,680 | |
| Ryman Hospitality Properties, Inc. - Class I (Equity Real Estate Investment Trusts (REITs)) | | | 848 | | | | 78,770 | |
| S&T Bancorp, Inc. (Banks) | | | 615 | | | | 22,374 | |
| Sabra Health Care REIT, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 3,637 | | | | 49,100 | |
| Sabre Corp.* (IT Services) | | | 5,140 | | | | 35,003 | |
| Safe Bulkers, Inc. (Marine) | | | 1,130 | | | | 3,718 | |
| Safehold, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 424 | | | | 14,823 | |
| Safety Insurance Group, Inc. (Insurance) | | | 224 | | | | 18,903 | |
| Sage Therapeutics, Inc.* (Biotechnology) | | | 821 | | | | 36,403 | |
| Saia, Inc.* (Road & Rail) | | | 418 | | | | 114,021 | |
| Sally Beauty Holdings, Inc.* (Specialty Retail) | | | 1,688 | | | | 26,299 | |
| Sana Biotechnology, Inc.* (Biotechnology) | | | 1,404 | | | | 6,402 | |
| SandRidge Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 501 | | | | 7,921 | |
| Sandy Spring Bancorp, Inc. (Banks) | | | 689 | | | | 23,288 | |
| Sangamo Therapeutics, Inc.* (Biotechnology) | | | 2,110 | | | | 7,364 | |
| Sanmina Corp.* (Electronic Equipment, Instruments & Components) | | | 899 | | | | 54,776 | |
| Sapiens International Corp. N.V. (Software) | | | 505 | | | | 11,443 | |
| Sarcos Technology and Robotics Corp.* (Machinery) | | | 1,726 | | | | 1,036 | |
| Saul Centers, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 186 | | | | 7,963 | |
| ScanSource, Inc.* (Electronic Equipment, Instruments & Components) | | | 398 | | | | 13,106 | |
| Schnitzer Steel Industries, Inc. - Class A (Metals & Mining) | | | 398 | | | | 13,468 | |
| Scholastic Corp. (Media) | | | 469 | | | | 20,749 | |
| Schrodinger, Inc.* (Health Care Technology) | | | 851 | | | | 20,577 | |
| Science 37 Holdings, Inc.* (Life Sciences Tools & Services) | | | 992 | | | | 536 | |
| Scilex Holding Co.* (Pharmaceuticals) | | | 1,025 | | | | 8,090 | |
See accompanying notes to schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Scorpio Tankers, Inc. (Oil, Gas & Consumable Fuels) | | | 741 | | | $ | 35,472 | |
| Sculptor Capital Management, Inc. (Capital Markets) | | | 404 | | | | 3,753 | |
| Seacoast Banking Corp. of Florida (Banks) | | | 1,137 | | | | 36,509 | |
| SeaWorld Entertainment, Inc.* (Hotels, Restaurants & Leisure) | | | 627 | | | | 39,119 | |
| SecureWorks Corp.* - Class A (Software) | | | 159 | | | | 1,275 | |
| Seer, Inc.* (Life Sciences Tools & Services) | | | 814 | | | | 3,704 | |
| Select Energy Services, Inc. (Energy Equipment & Services) | | | 1,125 | | | | 9,878 | |
| Select Medical Holdings Corp. (Health Care Providers & Services) | | | 1,642 | | | | 47,733 | |
| Selective Insurance Group, Inc. (Insurance) | | | 940 | | | | 89,299 | |
| Selectquote, Inc.* (Insurance) | | | 2,135 | | | | 1,841 | |
| Semtech Corp.* (Semiconductors & Semiconductor Equipment) | | | 997 | | | | 32,931 | |
| Seneca Foods Corp.* - Class A (Food Products) | | | 80 | | | | 5,000 | |
| Senseonics Holdings, Inc.* (Health Care Equipment & Supplies) | | | 7,455 | | | | 8,424 | |
| Sensient Technologies Corp. (Chemicals) | | | 662 | | | | 50,107 | |
| Seres Therapeutics, Inc.* (Biotechnology) | | | 1,111 | | | | 6,077 | |
| Service Properties Trust (Equity Real Estate Investment Trusts (REITs)) | | | 2,590 | | | | 23,077 | |
| ServisFirst Bancshares, Inc. (Banks) | | | 791 | | | | 53,930 | |
| SFL Corp., Ltd. (Oil, Gas & Consumable Fuels) | | | 1,811 | | | | 18,436 | |
| Shake Shack, Inc.* - Class A (Hotels, Restaurants & Leisure) | | | 592 | | | | 33,673 | |
| Sharecare, Inc.* (Health Care Technology) | | | 4,700 | | | | 11,938 | |
| Shenandoah Telecommunications Co. (Wireless Telecommunication Services) | | | 763 | | | | 14,917 | |
| Shoals Technologies Group, Inc.* - Class A (Electrical Equipment) | | | 2,175 | | | | 60,661 | |
| Shockwave Medical, Inc.* (Health Care Equipment & Supplies) | | | 561 | | | | 105,428 | |
| Shoe Carnival, Inc. (Specialty Retail) | | | 272 | | | | 7,428 | |
| Shore Bancshares, Inc. (Banks) | | | 281 | | | | 4,912 | |
| ShotSpotter, Inc.* (Software) | | | 141 | | | | 5,436 | |
| Shutterstock, Inc. (Internet & Direct Marketing Retail) | | | 377 | | | | 28,376 | |
| SI-BONE, Inc.* (Health Care Equipment & Supplies) | | | 535 | | | | 9,111 | |
| Sierra Bancorp (Banks) | | | 217 | | | | 4,570 | |
| SIGA Technologies, Inc. (Pharmaceuticals) | | | 742 | | | | 5,439 | |
| Sight Sciences, Inc.* (Health Care Equipment & Supplies) | | | 343 | | | | 3,948 | |
| Signet Jewelers, Ltd. (Specialty Retail) | | | 722 | | | | 55,457 | |
| Silicon Laboratories, Inc.* (Semiconductors & Semiconductor Equipment) | | | 520 | | | | 81,594 | |
| Silk Road Medical, Inc.* (Health Care Equipment & Supplies) | | | 592 | | | | 32,181 | |
| SilverBow Resources, Inc.* (Oil, Gas & Consumable Fuels) | | | 185 | | | | 4,860 | |
| Silvercrest Asset Management Group, Inc. - Class A (Capital Markets) | | | 152 | | | | 2,873 | |
| Silvergate Capital Corp.* - Class A (Banks) | | | 494 | | | | 7,035 | |
| Simmons First National Corp. - Class A (Banks) | | | 1,917 | | | | 42,768 | |
| Simpson Manufacturing Co., Inc. (Building Products) | | | 675 | | | | 72,299 | |
| Simulations Plus, Inc. (Health Care Technology) | | | 246 | | | | 10,120 | |
| Sinclair Broadcast Group, Inc. - Class A (Media) | | | 632 | | | | 13,038 | |
| Singular Genomics Systems, Inc.* (Life Sciences Tools & Services) | | | 892 | | | | 2,386 | |
| SiriusPoint, Ltd.* (Insurance) | | | 1,452 | | | | 11,021 | |
| SITE Centers Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 3,070 | | | | 41,906 | |
| SiTime Corp.* (Semiconductors & Semiconductor Equipment) | | | 256 | | | | 29,499 | |
| Sitio Royalties Corp. - Class A (Oil, Gas & Consumable Fuels) | | | 1,126 | | | | 29,918 | |
| SJW Group (Water Utilities) | | | 426 | | | | 32,977 | |
| Skillsoft Corp.* (Professional Services) | | | 1,281 | | | | 2,460 | |
| Skillz, Inc.* (Entertainment) | | | 4,954 | | | | 3,960 | |
| Skyline Champion Corp.* (Household Durables) | | | 841 | | | | 49,577 | |
| SkyWater Technology, Inc.* (Semiconductors & Semiconductor Equipment) | | | 177 | | | | 1,915 | |
| SkyWest, Inc.* (Airlines) | | | 786 | | | | 16,317 | |
| Sleep Number Corp.* (Specialty Retail) | | | 336 | | | | 11,552 | |
| SM Energy Co. (Oil, Gas & Consumable Fuels) | | | 1,909 | | | | 62,749 | |
| SMART Global Holdings, Inc.* (Semiconductors & Semiconductor Equipment) | | | 756 | | | | 12,996 | |
| SmartFinancial, Inc. (Banks) | | | 245 | | | | 6,608 | |
| SmartRent, Inc.* (Electronic Equipment, Instruments & Components) | | | 1,912 | | | | 5,583 | |
| Smith & Wesson Brands, Inc. (Leisure Products) | | | 715 | | | | 7,922 | |
| Snap One Holdings Corp.* (Household Durables) | | | 284 | | | | 2,724 | |
| Solaris Oilfield Infrastructure, Inc. (Energy Equipment & Services) | | | 498 | | | | 5,274 | |
| SolarWinds Corp.* (IT Services) | | | 761 | | | | 7,732 | |
| Solid Power, Inc.* (Auto Components) | | | 2,091 | | | | 7,005 | |
| Solo Brands, Inc.* - Class A (Leisure Products) | | | 347 | | | | 1,534 | |
| SomaLogic, Inc.* (Life Sciences Tools & Services) | | | 2,360 | | | | 8,213 | |
| Sonder Holdings, Inc.* (Hotels, Restaurants & Leisure) | | | 2,986 | | | | 4,001 | |
| Sonic Automotive, Inc. - Class A (Specialty Retail) | | | 283 | | | | 15,200 | |
| Sonos, Inc.* (Household Durables) | | | 2,011 | | | | 37,083 | |
| Sorrento Therapeutics, Inc.* (Biotechnology) | | | 7,271 | | | | 6,969 | |
| South Plains Financial, Inc. (Banks) | | | 154 | | | | 4,327 | |
| Southern First Bancshares, Inc.* (Banks) | | | 120 | | | | 5,051 | |
| Southern Missouri Bancorp, Inc. (Thrifts & Mortgage Finance) | | | 124 | | | | 6,004 | |
| Southside Bancshares, Inc. (Banks) | | | 482 | | | | 18,258 | |
| SouthState Corp. (Banks) | | | 1,181 | | | | 94,009 | |
| Southwest Gas Holdings, Inc. (Gas Utilities) | | | 1,057 | | | | 70,745 | |
| Sovos Brands, Inc.* (Food Products) | | | 603 | | | | 8,177 | |
See accompanying notes to schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| SP Plus Corp.* (Commercial Services & Supplies) | | | 317 | | | $ | 11,954 | |
| SpartanNash Co. (Food & Staples Retailing) | | | 550 | | | | 17,424 | |
| Spire Global, Inc.* (Technology Hardware, Storage & Peripherals) | | | 1,973 | | | | 2,348 | |
| Spire, Inc. (Gas Utilities) | | | 804 | | | | 58,065 | |
| Spirit Airlines, Inc. (Airlines) | | | 1,719 | | | | 34,106 | |
| Sportsman's Warehouse Holdings, Inc.* (Specialty Retail) | | | 607 | | | | 5,724 | |
| SpringWorks Therapeutics, Inc.* (Biotechnology) | | | 567 | | | | 17,804 | |
| Sprout Social, Inc.* - Class A (Software) | | | 737 | | | | 47,146 | |
| Sprouts Farmers Market, Inc.* (Food & Staples Retailing) | | | 1,670 | | | | 53,356 | |
| SPS Commerce, Inc.* (Software) | | | 571 | | | | 77,702 | |
| SPX Technologies, Inc.* (Machinery) | | | 690 | | | | 51,757 | |
| Squarespace, Inc.* - Class A (IT Services) | | | 480 | | | | 11,386 | |
| STAAR Surgical Co.* (Health Care Equipment & Supplies) | | | 756 | | | | 53,336 | |
| STAG Industrial, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 2,844 | | | | 101,245 | |
| Stagwell, Inc.* (Media) | | | 1,209 | | | | 8,487 | |
| Standard Motor Products, Inc. (Auto Components) | | | 317 | | | | 12,826 | |
| Standex International Corp. (Machinery) | | | 188 | | | | 21,727 | |
| Steelcase, Inc. - Class A (Commercial Services & Supplies) | | | 1,372 | | | | 10,702 | |
| Stellar Bancorp, Inc. (Banks) | | | 706 | | | | 19,846 | |
| Stem, Inc.* (Electrical Equipment) | | | 2,272 | | | | 22,402 | |
| Stepan Co. (Chemicals) | | | 337 | | | | 37,016 | |
| StepStone Group, Inc. - Class A (Capital Markets) | | | 857 | | | | 25,016 | |
| Sterling Bancorp, Inc.* (Thrifts & Mortgage Finance) | | | 274 | | | | 1,669 | |
| Sterling Check Corp.* (Professional Services) | | | 373 | | | | 5,203 | |
| Sterling Construction Co., Inc.* (Construction & Engineering) | | | 461 | | | | 16,776 | |
| Steven Madden, Ltd. (Textiles, Apparel & Luxury Goods) | | | 1,212 | | | | 43,450 | |
| Stewart Information Services Corp. (Insurance) | | | 423 | | | | 20,207 | |
| Stitch Fix, Inc.* - Class A (Internet & Direct Marketing Retail) | | | 1,320 | | | | 6,877 | |
| Stock Yards Bancorp, Inc. (Banks) | | | 451 | | | | 27,042 | |
| Stoke Therapeutics, Inc.* (Biotechnology) | | | 354 | | | | 3,526 | |
| StoneCo, Ltd.* - Class A (IT Services) | | | 4,368 | | | | 48,747 | |
| Stoneridge, Inc.* (Auto Components) | | | 415 | | | | 10,234 | |
| StoneX Group, Inc.* (Capital Markets) | | | 271 | | | | 23,815 | |
| Strategic Education, Inc. (Diversified Consumer Services) | | | 358 | | | | 33,419 | |
| Stratus Properties, Inc. (Real Estate Management & Development) | | | 93 | | | | 2,048 | |
| Stride, Inc.* (Diversified Consumer Services) | | | 639 | | | | 27,432 | |
| Sturm Ruger & Co., Inc. (Leisure Products) | | | 272 | | | | 15,477 | |
| Summit Financial Group, Inc. (Banks) | | | 175 | | | | 4,541 | |
| Summit Hotel Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,652 | | | | 14,075 | |
| Summit Materials, Inc.* - Class A (Construction Materials) | | | 1,874 | | | | 61,579 | |
| Sumo Logic, Inc.* (Software) | | | 1,831 | | | | 21,661 | |
| Sun Country Airlines Holdings, Inc.* (Airlines) | | | 522 | | | | 9,746 | |
| SunCoke Energy, Inc. (Metals & Mining) | | | 1,314 | | | | 11,971 | |
| Sunlight Financial Holdings, Inc.* (Consumer Finance) | | | 378 | | | | 488 | |
| Sunnova Energy International, Inc.* (Independent Power and Renewable Electricity Producers) | | | 1,565 | | | | 30,486 | |
| SunOpta, Inc.* (Food Products) | | | 1,539 | | | | 12,574 | |
| SunPower Corp.* (Semiconductors & Semiconductor Equipment) | | | 1,288 | | | | 22,450 | |
| Sunstone Hotel Investors, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 3,343 | | | | 36,740 | |
| Super Micro Computer, Inc.* (Technology Hardware, Storage & Peripherals) | | | 730 | | | | 52,800 | |
| Superior Group of Cos., Inc. (Textiles, Apparel & Luxury Goods) | | | 187 | | | | 2,231 | |
| Supernus Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 782 | | | | 32,070 | |
| Surgery Partners, Inc.* (Health Care Providers & Services) | | | 789 | | | | 26,195 | |
| Surmodics, Inc.* (Health Care Equipment & Supplies) | | | 215 | | | | 6,044 | |
| Sutro BioPharma, Inc.* (Biotechnology) | | | 849 | | | | 6,147 | |
| Sweetgreen, Inc.* - Class A (Hotels, Restaurants & Leisure) | | | 1,398 | | | | 14,497 | |
| SWK Holdings Corp.* (Diversified Financial Services) | | | 56 | | | | 1,056 | |
| Sylvamo Corp. (Paper & Forest Products) | | | 560 | | | | 26,617 | |
| Synaptics, Inc.* (Semiconductors & Semiconductor Equipment) | | | 626 | | | | 78,269 | |
| Syndax Pharmaceuticals, Inc.* (Biotechnology) | | | 838 | | | | 24,051 | |
| Tactile Systems Technology, Inc.* (Health Care Equipment & Supplies) | | | 309 | | | | 4,008 | |
| Talaris Therapeutics, Inc.* (Biotechnology) | | | 366 | | | | 534 | |
| Talos Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 1,043 | | | | 20,662 | |
| Tanger Factory Outlet Centers, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,598 | | | | 30,538 | |
| Tango Therapeutics, Inc.* (Biotechnology) | | | 735 | | | | 4,851 | |
| Target Hospitality Corp.* (Hotels, Restaurants & Leisure) | | | 460 | | | | 7,063 | |
| Tarsus Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 289 | | | | 4,555 | |
| Tattooed Chef, Inc.* (Food Products) | | | 773 | | | | 1,175 | |
| Taylor Morrison Home Corp.* (Household Durables) | | | 1,649 | | | | 59,034 | |
| TechTarget, Inc.* (Media) | | | 426 | | | | 21,100 | |
| Teekay Corp.* (Oil, Gas & Consumable Fuels) | | | 1,089 | | | | 5,293 | |
| Teekay Tankers, Ltd.* - Class A (Oil, Gas & Consumable Fuels) | | | 361 | | | | 11,079 | |
| TEGNA, Inc. (Media) | | | 3,512 | | | | 69,993 | |
| Tejon Ranch Co.* (Real Estate Management & Development) | | | 328 | | | | 6,567 | |
| Telephone and Data Systems, Inc. (Wireless Telecommunication Services) | | | 1,590 | | | | 21,257 | |
See accompanying notes to schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Tellurian, Inc.* (Oil, Gas & Consumable Fuels) | | | 8,043 | | | $ | 16,006 | |
| Telos Corp.* (Software) | | | 850 | | | | 4,123 | |
| Tenable Holdings, Inc.* (Software) | | | 1,762 | | | | 70,885 | |
| Tenaya Therapeutics, Inc.* (Biotechnology) | | | 442 | | | | 1,512 | |
| Tennant Co. (Machinery) | | | 292 | | | | 20,478 | |
| Tenon Medical, Inc.* (Health Care Equipment & Supplies) | | | 121 | | | | 273 | |
| Terawulf, Inc.* (Software) | | | 343 | | | | 335 | |
| Terex Corp. (Machinery) | | | 1,051 | | | | 53,569 | |
| Terran Orbital Corp.* (Aerospace & Defense) | | | 650 | | | | 1,261 | |
| Terreno Realty Corp. (Equity Real Estate Investment Trusts (REITs)) | | | 1,171 | | | | 75,447 | |
| TETRA Technologies, Inc.* (Energy Equipment & Services) | | | 1,963 | | | | 7,773 | |
| Texas Capital Bancshares, Inc.* (Banks) | | | 788 | | | | 52,063 | |
| Texas Roadhouse, Inc. (Hotels, Restaurants & Leisure) | | | 1,058 | | | | 106,254 | |
| Textainer Group Holdings, Ltd. (Trading Companies & Distributors) | | | 685 | | | | 23,222 | |
| TG Therapeutics, Inc.* (Biotechnology) | | | 2,099 | | | | 31,968 | |
| The Andersons, Inc. (Food & Staples Retailing) | | | 505 | | | | 18,574 | |
| The Arena Group Holdings, Inc.* (Interactive Media & Services) | | | 183 | | | | 1,636 | |
| The Bancorp, Inc.* (Banks) | | | 860 | | | | 29,180 | |
| The Bank of NT Butterfield & Son, Ltd. (Banks) | | | 783 | | | | 25,025 | |
| The Beachbody Co., Inc.* (Diversified Consumer Services) | | | 1,651 | | | | 1,026 | |
| The Beauty Health Co.* (Personal Products) | | | 1,495 | | | | 17,043 | |
| The Brink's Co. (Commercial Services & Supplies) | | | 715 | | | | 46,904 | |
| The Buckle, Inc. (Specialty Retail) | | | 476 | | | | 20,944 | |
| The Cato Corp. - Class A (Specialty Retail) | | | 285 | | | | 2,833 | |
| The Cheesecake Factory, Inc. (Hotels, Restaurants & Leisure) | | | 764 | | | | 29,987 | |
| The Chefs' Warehouse, Inc.* (Food & Staples Retailing) | | | 537 | | | | 20,530 | |
| The Children's Place, Inc.* (Specialty Retail) | | | 199 | | | | 9,029 | |
| The Container Store Group, Inc.* (Specialty Retail) | | | 513 | | | | 2,673 | |
| The Duckhorn Portfolio, Inc.* (Beverages) | | | 662 | | | | 10,711 | |
| The E.W. Scripps Co.* - Class A (Media) | | | 922 | | | | 13,784 | |
| The Ensign Group, Inc. (Health Care Providers & Services) | | | 849 | | | | 79,168 | |
| The First Bancorp, Inc. (Banks) | | | 153 | | | | 4,538 | |
| The First Bancshares, Inc. (Banks) | | | 330 | | | | 10,115 | |
| The First of Long Island Corp. (Banks) | | | 347 | | | | 6,128 | |
| The GEO Group, Inc.* (Equity Real Estate Investment Trusts (REITs)) | | | 1,867 | | | | 21,471 | |
| The Goodyear Tire & Rubber Co.* (Auto Components) | | | 4,423 | | | | 49,759 | |
| The Gorman-Rupp Co. (Machinery) | | | 359 | | | | 10,314 | |
| The Greenbrier Cos., Inc. (Machinery) | | | 502 | | | | 15,522 | |
| The Hackett Group, Inc. (IT Services) | | | 424 | | | | 9,370 | |
| The Hain Celestial Group, Inc.* (Food Products) | | | 1,412 | | | | 28,974 | |
| The Honest Co., Inc.* (Personal Products) | | | 1,038 | | | | 3,425 | |
| The Joint Corp.* (Health Care Providers & Services) | | | 221 | | | | 4,016 | |
| The Lovesac Co.* (Household Durables) | | | 220 | | | | 5,663 | |
| The Macerich Co. (Equity Real Estate Investment Trusts (REITs)) | | | 3,395 | | | | 46,647 | |
| The Manitowoc Co., Inc.* (Machinery) | | | 547 | | | | 7,494 | |
| The Marcus Corp. (Entertainment) | | | 376 | | | | 5,693 | |
| The Necessity Retail REIT, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 2,107 | | | | 14,391 | |
| The ODP Corp.* (Specialty Retail) | | | 631 | | | | 32,560 | |
| The Oncology Institute, Inc.* (Health Care Providers & Services) | | | 550 | | | | 814 | |
| The ONE Group Hospitality, Inc.* (Hotels, Restaurants & Leisure) | | | 356 | | | | 2,681 | |
| The Pennant Group, Inc.* (Health Care Providers & Services) | | | 407 | | | | 5,267 | |
| The RealReal, Inc.* (Internet & Direct Marketing Retail) | | | 1,396 | | | | 2,555 | |
| The RMR Group, Inc. - Class A (Real Estate Management & Development) | | | 241 | | | | 7,476 | |
| The Shyft Group, Inc. (Machinery) | | | 544 | | | | 18,110 | |
| The Simply Good Foods Co.* (Food Products) | | | 1,400 | | | | 50,819 | |
| The St Joe Co. (Real Estate Management & Development) | | | 544 | | | | 25,622 | |
| The Vita Coco Co., Inc.* (Beverages) | | | 439 | | | | 5,957 | |
| The York Water Co. (Water Utilities) | | | 223 | | | | 10,135 | |
| Theravance Biopharma, Inc.* (Pharmaceuticals) | | | 1,029 | | | | 11,123 | |
| Thermon Group Holdings, Inc.* (Electrical Equipment) | | | 522 | | | | 12,069 | |
| Theseus Pharmaceuticals, Inc.* (Pharmaceuticals) | | | 268 | | | | 3,749 | |
| Third Coast Bancshares, Inc.* (Banks) | | | 201 | | | | 3,727 | |
| Third Harmonic Bio, Inc.* (Pharmaceuticals) | | | 200 | | | | 874 | |
| Thorne HealthTech, Inc.* (Personal Products) | | | 218 | | | | 1,005 | |
| ThredUp, Inc.* - Class A (Internet & Direct Marketing Retail) | | | 927 | | | | 1,604 | |
| Thryv Holdings, Inc.* (Media) | | | 400 | | | | 8,948 | |
| Tidewater, Inc.* (Energy Equipment & Services) | | | 735 | | | | 31,899 | |
| Tile Shop Holdings, Inc.* (Specialty Retail) | | | 489 | | | | 2,445 | |
| Tilly's, Inc.* - Class A (Specialty Retail) | | | 356 | | | | 3,154 | |
| TimkenSteel Corp.* (Metals & Mining) | | | 698 | | | | 13,730 | |
| Tiptree, Inc. (Insurance) | | | 390 | | | | 5,854 | |
| Titan International, Inc.* (Machinery) | | | 807 | | | | 13,469 | |
| Titan Machinery, Inc.* (Trading Companies & Distributors) | | | 319 | | | | 14,017 | |
| Tompkins Financial Corp. (Banks) | | | 219 | | | | 16,497 | |
| Tootsie Roll Industries, Inc. (Food Products) | | | 246 | | | | 11,004 | |
| Topgolf Callaway Brands Corp.* (Leisure Products) | | | 2,205 | | | | 54,000 | |
| Torrid Holdings, Inc.* (Specialty Retail) | | | 231 | | | | 859 | |
| TowneBank (Banks) | | | 1,062 | | | | 32,359 | |
See accompanying notes to schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| TPG RE Finance Trust, Inc. - Class T (Mortgage Real Estate Investment Trusts (REITs)) | | | 1,087 | | | $ | 9,468 | |
| TPI Composites, Inc.* (Electrical Equipment) | | | 576 | | | | 7,517 | |
| Traeger, Inc.* (Household Durables) | | | 524 | | | | 1,902 | |
| Transcat, Inc.* (Trading Companies & Distributors) | | | 113 | | | | 9,438 | |
| Transcontinental Realty Investors, Inc.* (Real Estate Management & Development) | | | 19 | | | | 865 | |
| TransMedics Group, Inc.* (Health Care Equipment & Supplies) | | | 481 | | | | 30,313 | |
| Transphorm, Inc.* (Semiconductors & Semiconductor Equipment) | | | 360 | | | | 1,678 | |
| TravelCenters of America, Inc.* (Specialty Retail) | | | 198 | | | | 9,013 | |
| Travere Therapeutics, Inc.* (Biotechnology) | | | 970 | | | | 21,728 | |
| Treace Medical Concepts, Inc.* (Health Care Equipment & Supplies) | | | 525 | | | | 12,122 | |
| Trean Insurance Group, Inc.* (Insurance) | | | 357 | | | | 2,174 | |
| Tredegar Corp. (Chemicals) | | | 428 | | | | 5,192 | |
| TreeHouse Foods, Inc.* (Food Products) | | | 802 | | | | 38,841 | |
| Tri Pointe Homes, Inc.* (Household Durables) | | | 1,591 | | | | 35,145 | |
| TriCo Bancshares (Banks) | | | 492 | | | | 24,871 | |
| TriMas Corp. (Containers & Packaging) | | | 660 | | | | 20,321 | |
| TriNet Group, Inc.* (Professional Services) | | | 591 | | | | 44,591 | |
| Trinity Industries, Inc. (Machinery) | | | 1,295 | | | | 37,257 | |
| Trinseo PLC (Chemicals) | | | 551 | | | | 15,290 | |
| Triton International, Ltd. (Trading Companies & Distributors) | | | 919 | | | | 64,918 | |
| Triumph Financial, Inc.* (Banks) | | | 368 | | | | 20,509 | |
| Triumph Group, Inc.* (Aerospace & Defense) | | | 1,010 | | | | 11,504 | |
| Tronox Holdings PLC - Class A (Chemicals) | | | 1,844 | | | | 31,625 | |
| TrueBlue, Inc.* (Professional Services) | | | 508 | | | | 9,972 | |
| TrueCar, Inc.* (Interactive Media & Services) | | | 1,379 | | | | 4,302 | |
| Trupanion, Inc.* (Insurance) | | | 615 | | | | 36,297 | |
| TrustCo Bank Corp. (Thrifts & Mortgage Finance) | | | 295 | | | | 10,593 | |
| Trustmark Corp. (Banks) | | | 966 | | | | 28,130 | |
| TTEC Holdings, Inc. (IT Services) | | | 297 | | | | 15,099 | |
| TTM Technologies, Inc.* (Electronic Equipment, Instruments & Components) | | | 1,597 | | | | 25,105 | |
| Tucows, Inc.* (IT Services) | | | 156 | | | | 5,175 | |
| Tupperware Brands Corp.* (Household Durables) | | | 696 | | | | 3,083 | |
| Turning Point Brands, Inc. (Tobacco) | | | 233 | | | | 5,408 | |
| Turtle Beach Corp.* (Technology Hardware, Storage & Peripherals) | | | 244 | | | | 2,318 | |
| TuSimple Holdings, Inc.* - Class A (Road & Rail) | | | 2,207 | | | | 4,635 | |
| Tutor Perini Corp.* (Construction & Engineering) | | | 663 | | | | 6,080 | |
| Twist Bioscience Corp.* (Biotechnology) | | | 884 | | | | 25,362 | |
| Two Harbors Investment Corp. (Mortgage Real Estate Investment Trusts (REITs)) | | | 1,361 | | | | 24,416 | |
| Tyra Biosciences, Inc.* (Biotechnology) | | | 209 | | | | 2,220 | |
| U.S. Cellular Corp.* (Wireless Telecommunication Services) | | | 232 | | | | 5,675 | |
| U.S. Lime & Minerals, Inc. (Construction Materials) | | | 32 | | | | 4,858 | |
| U.S. Physical Therapy, Inc. (Health Care Providers & Services) | | | 202 | | | | 20,028 | |
| U.S. Silica Holdings, Inc.* (Energy Equipment & Services) | | | 1,168 | | | | 14,296 | |
| Udemy, Inc.* (Diversified Consumer Services) | | | 1,151 | | | | 14,434 | |
| UFP Industries, Inc. (Building Products) | | | 942 | | | | 88,124 | |
| UFP Technologies, Inc.* (Health Care Equipment & Supplies) | | | 108 | | | | 12,283 | |
| Ultra Clean Holdings, Inc.* (Semiconductors & Semiconductor Equipment) | | | 711 | | | | 23,925 | |
| UMB Financial Corp. (Banks) | | | 694 | | | | 62,592 | |
| UMH Properties, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 802 | | | | 14,372 | |
| Unifi, Inc.* (Textiles, Apparel & Luxury Goods) | | | 226 | | | | 1,932 | |
| UniFirst Corp. (Commercial Services & Supplies) | | | 236 | | | | 46,832 | |
| Unisys Corp.* (IT Services) | | | 1,044 | | | | 5,648 | |
| United Bankshares, Inc. (Banks) | | | 2,058 | | | | 82,733 | |
| United Community Banks, Inc. (Banks) | | | 1,676 | | | | 54,537 | |
| United Fire Group, Inc. (Insurance) | | | 336 | | | | 10,581 | |
| United Natural Foods, Inc.* (Food & Staples Retailing) | | | 915 | | | | 38,082 | |
| Uniti Group, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 3,742 | | | | 24,660 | |
| Unitil Corp. (Multi-Utilities) | | | 250 | | | | 13,043 | |
| Unity Bancorp, Inc. (Banks) | | | 111 | | | | 2,938 | |
| Universal Corp. (Tobacco) | | | 381 | | | | 20,715 | |
| Universal Electronics, Inc.* (Household Durables) | | | 191 | | | | 4,475 | |
| Universal Health Realty Income Trust (Equity Real Estate Investment Trusts (REITs)) | | | 202 | | | | 11,072 | |
| Universal Insurance Holdings, Inc. (Insurance) | | | 407 | | | | 5,185 | |
| Universal Logistics Holdings, Inc. (Road & Rail) | | | 114 | | | | 4,095 | |
| Universal Technical Institute, Inc.* (Diversified Consumer Services) | | | 522 | | | | 3,957 | |
| Univest Financial Corp. (Banks) | | | 454 | | | | 12,326 | |
| Upland Software, Inc.* (Software) | | | 466 | | | | 4,068 | |
| Upwork, Inc.* (Professional Services) | | | 1,914 | | | | 24,805 | |
| Uranium Energy Corp.* (Oil, Gas & Consumable Fuels) | | | 5,562 | | | | 22,415 | |
| Urban Edge Properties (Equity Real Estate Investment Trusts (REITs)) | | | 1,802 | | | | 28,382 | |
| Urban One, Inc.* (Media) | | | 131 | | | | 918 | |
| Urban One, Inc.* (Media) | | | 172 | | | | 857 | |
| Urban Outfitters, Inc.* (Specialty Retail) | | | 1,007 | | | | 27,582 | |
| Ur-Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 3,303 | | | | 4,327 | |
| Urstadt Biddle Properties, Inc. - Class A (Equity Real Estate Investment Trusts (REITs)) | | | 464 | | | | 8,714 | |
See accompanying notes to schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| USANA Health Sciences, Inc.* (Personal Products) | | | 177 | | | $ | 10,344 | |
| USCB Financial Holdings, Inc.* (Banks) | | | 170 | | | | 2,040 | |
| Utah Medical Products, Inc. (Health Care Equipment & Supplies) | | | 54 | | | | 4,975 | |
| Utz Brands, Inc. (Food Products) | | | 1,036 | | | | 17,260 | |
| V2X, Inc.* (Aerospace & Defense) | | | 189 | | | | 8,346 | |
| VAALCO Energy, Inc. (Oil, Gas & Consumable Fuels) | | | 1,676 | | | | 7,793 | |
| Vacasa, Inc.* - Class A (Hotels, Restaurants & Leisure) | | | 1,823 | | | | 3,190 | |
| Valaris, Ltd.* (Energy Equipment & Services) | | | 961 | | | | 69,807 | |
| Valhi, Inc. (Chemicals) | | | 38 | | | | 982 | |
| Valley National Bancorp (Banks) | | | 6,791 | | | | 80,677 | |
| Value Line, Inc. (Capital Markets) | | | 15 | | | | 776 | |
| Vanda Pharmaceuticals, Inc.* (Biotechnology) | | | 875 | | | | 6,720 | |
| Varex Imaging Corp.* (Health Care Equipment & Supplies) | | | 609 | | | | 13,087 | |
| Varonis Systems, Inc.* (Software) | | | 1,717 | | | | 44,367 | |
| Vaxart, Inc.* (Biotechnology) | | | 2,027 | | | | 2,189 | |
| Vaxcyte, Inc.* (Pharmaceuticals) | | | 1,130 | | | | 51,246 | |
| VBI Vaccines, Inc.* (Biotechnology) | | | 3,041 | | | | 1,770 | |
| Vector Group, Ltd. (Tobacco) | | | 2,266 | | | | 29,345 | |
| Veeco Instruments, Inc.* (Semiconductors & Semiconductor Equipment) | | | 800 | | | | 15,888 | |
| Velo3D, Inc.* (Technology Hardware, Storage & Peripherals) | | | 904 | | | | 2,170 | |
| Velocity Financial, Inc.* (Thrifts & Mortgage Finance) | | | 136 | | | | 1,372 | |
| Velodyne Lidar, Inc.* (Electronic Equipment, Instruments & Components) | | | 3,293 | | | | 3,853 | |
| Ventyx Biosciences, Inc.* (Pharmaceuticals) | | | 393 | | | | 16,506 | |
| Vera Therapeutics, Inc.* (Biotechnology) | | | 226 | | | | 1,916 | |
| Veracyte, Inc.* (Biotechnology) | | | 1,129 | | | | 28,372 | |
| Veradigm, Inc.* (Health Care Technology) | | | 1,698 | | | | 30,411 | |
| Vericel Corp.* (Biotechnology) | | | 744 | | | | 20,438 | |
| Verint Systems, Inc.* (Software) | | | 1,003 | | | | 38,084 | |
| Veris Residential, Inc.* (Equity Real Estate Investment Trusts (REITs)) | | | 1,357 | | | | 23,476 | |
| Veritex Holdings, Inc. (Banks) | | | 828 | | | | 23,308 | |
| Veritiv Corp. (Trading Companies & Distributors) | | | 206 | | | | 25,758 | |
| Veritone, Inc.* (Software) | | | 493 | | | | 4,166 | |
| Verra Mobility Corp.* - Class C (IT Services) | | | 2,210 | | | | 34,100 | |
| Vertex Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 853 | | | | 6,210 | |
| Veru, Inc.* (Personal Products) | | | 1,025 | | | | 5,904 | |
| Verve Therapeutics, Inc.* (Biotechnology) | | | 736 | | | | 16,744 | |
| Via Renewables, Inc. (Multi-Utilities) | | | 194 | | | | 1,302 | |
| Viad Corp.* (Commercial Services & Supplies) | | | 320 | | | | 9,456 | |
| Viant Technology, Inc.* - Class A (Software) | | | 228 | | | | 1,035 | |
| Viavi Solutions, Inc.* (Communications Equipment) | | | 3,588 | | | | 40,543 | |
| Vicarious Surgical, Inc.* (Health Care Equipment & Supplies) | | | 873 | | | | 2,366 | |
| Vicor Corp.* (Electrical Equipment) | | | 347 | | | | 24,092 | |
| Victory Capital Holdings, Inc. - Class A (Capital Markets) | | | 260 | | | | 7,706 | |
| View, Inc.* (Building Products) | | | 1,800 | | | | 1,476 | |
| ViewRay, Inc.* (Health Care Equipment & Supplies) | | | 2,334 | | | | 10,713 | |
| Village Super Market, Inc. - Class A (Food & Staples Retailing) | | | 134 | | | | 3,117 | |
| Vimeo, Inc.* (Interactive Media & Services) | | | 2,258 | | | | 10,251 | |
| Vinco Ventures, Inc.* (Leisure Products) | | | 3,701 | | | | 2,735 | |
| Vintage Wine Estates, Inc.* (Beverages) | | | 512 | | | | 1,464 | |
| Vir Biotechnology, Inc.* (Biotechnology) | | | 1,143 | | | | 33,776 | |
| Virgin Galactic Holdings, Inc.* (Aerospace & Defense) | | | 3,821 | | | | 21,092 | |
| Viridian Therapeutics, Inc.* (Biotechnology) | | | 596 | | | | 21,766 | |
| Virtus Investment Partners, Inc. (Capital Markets) | | | 110 | | | | 23,637 | |
| Vishay Intertechnology, Inc. (Electronic Equipment, Instruments & Components) | | | 2,047 | | | | 46,856 | |
| Vishay Precision Group, Inc.* (Electronic Equipment, Instruments & Components) | | | 196 | | | | 8,463 | |
| Vista Outdoor, Inc.* (Leisure Products) | | | 880 | | | | 25,828 | |
| VistaGen Therapeutics, Inc.* (Biotechnology) | | | 3,264 | | | | 845 | |
| Visteon Corp.* (Auto Components) | | | 438 | | | | 68,477 | |
| Vital Energy, Inc.* (Oil, Gas & Consumable Fuels) | | | 261 | | | | 14,689 | |
| Vital Farms, Inc.* (Food Products) | | | 471 | | | | 8,280 | |
| Vivid Seats, Inc.* - Class A (Internet & Direct Marketing Retail) | | | 405 | | | | 3,447 | |
| Vivint Smart Home, Inc.* (Diversified Consumer Services) | | | 1,496 | | | | 17,922 | |
| Vizio Holding Corp.* - Class A (Household Durables) | | | 1,086 | | | | 9,513 | |
| Volta, Inc.* (Specialty Retail) | | | 1,948 | | | | 1,672 | |
| VSE Corp. (Commercial Services & Supplies) | | | 167 | | | | 9,168 | |
| Vuzix Corp.* (Household Durables) | | | 936 | | | | 4,877 | |
| W&T Offshore, Inc.* (Oil, Gas & Consumable Fuels) | | | 1,491 | | | | 9,274 | |
| Wabash National Corp. (Machinery) | | | 749 | | | | 19,294 | |
| Walker & Dunlop, Inc. (Thrifts & Mortgage Finance) | | | 484 | | | | 46,164 | |
| Warby Parker, Inc.* - Class A (Specialty Retail) | | | 1,315 | | | | 21,237 | |
| Warrior Met Coal, Inc. (Metals & Mining) | | | 812 | | | | 30,759 | |
| Washington Federal, Inc. (Banks) | | | 1,022 | | | | 36,240 | |
| Washington Trust Bancorp, Inc. (Banks) | | | 269 | | | | 11,505 | |
| Waterstone Financial, Inc. (Thrifts & Mortgage Finance) | | | 298 | | | | 4,798 | |
| Watts Water Technologies, Inc. - Class A (Machinery) | | | 432 | | | | 70,640 | |
| WD-40 Co. (Household Products) | | | 215 | | | | 37,526 | |
| Weatherford International PLC* (Energy Equipment & Services) | | | 1,114 | | | | 63,364 | |
| Weave Communications, Inc.* (Software) | | | 498 | | | | 2,590 | |
See accompanying notes to schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Common Stocks, continued
| | | Shares | | | Value | |
| Weber, Inc. - Class A (Household Durables) | | | 427 | | | $ | 3,484 | |
| Weis Markets, Inc. (Food & Staples Retailing) | | | 259 | | | | 22,362 | |
| Wejo Group, Ltd.* (Interactive Media & Services) | | | 906 | | | | 797 | |
| Werner Enterprises, Inc. (Road & Rail) | | | 998 | | | | 46,875 | |
| WesBanco, Inc. (Banks) | | | 903 | | | | 33,565 | |
| West Bancorp, Inc. (Banks) | | | 256 | | | | 5,606 | |
| Westamerica Bancorp (Banks) | | | 411 | | | | 22,835 | |
| Weyco Group, Inc. (Distributors) | | | 93 | | | | 2,531 | |
| Wheels Up Experience, Inc.* (Airlines) | | | 2,544 | | | | 3,129 | |
| Whitestone REIT (Equity Real Estate Investment Trusts (REITs)) | | | 737 | | | | 7,672 | |
| Whole Earth Brands, Inc.* (Food Products) | | | 641 | | | | 2,429 | |
| WideOpenWest, Inc.* (Media) | | | 845 | | | | 9,709 | |
| Willdan Group, Inc.* (Professional Services) | | | 183 | | | | 3,484 | |
| Wingstop, Inc. (Hotels, Restaurants & Leisure) | | | 472 | | | | 74,798 | |
| Winmark Corp. (Specialty Retail) | | | 44 | | | | 12,355 | |
| Winnebago Industries, Inc. (Automobiles) | | | 470 | | | | 29,931 | |
| WisdomTree, Inc. (Capital Markets) | | | 2,148 | | | | 12,372 | |
| WM Technology, Inc.* (Software) | | | 1,197 | | | | 1,508 | |
| Wolverine World Wide, Inc. (Textiles, Apparel & Luxury Goods) | | | 1,220 | | | | 19,679 | |
| Workhorse Group, Inc.* (Automobiles) | | | 2,407 | | | | 5,319 | |
| Workiva, Inc.* (Software) | | | 751 | | | | 64,984 | |
| World Acceptance Corp.* (Consumer Finance) | | | 62 | | | | 5,935 | |
| World Fuel Services Corp. (Oil, Gas & Consumable Fuels) | | | 966 | | | | 27,338 | |
| Worthington Industries, Inc. (Metals & Mining) | | | 496 | | | | 28,208 | |
| WSFS Financial Corp. (Thrifts & Mortgage Finance) | | | 966 | | | | 46,667 | |
| WW International, Inc.* (Diversified Consumer Services) | | | 855 | | | | 4,249 | |
| Xencor, Inc.* (Biotechnology) | | | 904 | | | | 29,760 | |
| Xenia Hotels & Resorts, Inc. (Equity Real Estate Investment Trusts (REITs)) | | | 1,803 | | | | 26,865 | |
| Xeris Biopharma Holdings, Inc.* (Pharmaceuticals) | | | 2,088 | | | | 2,589 | |
| Xerox Holdings Corp. (Technology Hardware, Storage & Peripherals) | | | 1,802 | | | | 29,517 | |
| Xometry, Inc.* - Class A (Internet & Direct Marketing Retail) | | | 538 | | | | 18,841 | |
| Xos, Inc.* (Machinery) | | | 890 | | | | 843 | |
| XPEL, Inc.* (Auto Components) | | | 340 | | | | 25,864 | |
| Xperi, Inc.* (Software) | | | 657 | | | | 6,800 | |
| Xponential Fitness, Inc.* - Class A (Hotels, Restaurants & Leisure) | | | 279 | | | | 7,667 | |
| Yelp, Inc.* (Interactive Media & Services) | | | 1,067 | | | | 33,621 | |
| Yext, Inc.* (Software) | | | 1,795 | | | | 12,475 | |
| Y-mAbs Therapeutics, Inc.* (Biotechnology) | | | 579 | | | | 2,600 | |
| Zentalis Pharmaceuticals, Inc.* (Biotechnology) | | | 740 | | | | 17,464 | |
| Zeta Global Holdings Corp.* - Class A (Software) | | | 1,751 | | | | 15,899 | |
| Ziff Davis, Inc.* (Interactive Media & Services) | | | 720 | | | | 64,426 | |
| Zimvie, Inc.* (Health Care Equipment & Supplies) | | | 328 | | | | 3,218 | |
| ZipRecruiter, Inc.* (Interactive Media & Services) | | | 1,150 | | | | 22,586 | |
| Zumiez, Inc.* (Specialty Retail) | | | 246 | | | | 6,354 | |
| Zuora, Inc.* - Class A (Software) | | | 1,959 | | | | 15,515 | |
| Zurn Elkay Water Solutions Corp. (Building Products) | | | 1,957 | | | | 42,780 | |
| Zynex, Inc.* (Health Care Equipment & Supplies) | | | 341 | | | | 4,818 | |
| TOTAL COMMON STOCKS | | | | | | | | |
| (Cost $26,591,421) | | | | | | | 39,343,912 | |
| | | | | | | | | |
| Right(NM) | | | | | | | | |
| Zogenix, Inc. CVR;*+(a) (Pharmaceuticals) | | | 1,273 | | | | 866 | |
| TOTAL RIGHT | | | | | | | | |
| (Cost $–) | | | | | | | 866 | |
Trust (0.0%)
| | | Interest
Units | | | Value | |
| Ferroglobe Representation and Warranty Insurance*+ (Metals & Mining) | | | 1,320 | | | $ | — | |
| | | | | | | | | |
| TOTAL TRUST | | | | | | | | |
| (Cost $–) | | | | | | | — | |
Repurchase Agreements(b)(c) (45.2%)
| | | Principal
Amount | | | Value | |
| Repurchase Agreements with various counterparties, rates 4.15%-4.22%, dated 1/31/23, due 2/1/23, total to be received $27,032,161 | | $ | 27,029,000 | | | $ | 27,029,000 | |
| TOTAL REPURCHASE AGREEMENTS | | | | | | | | |
| (Cost $27,029,000) | | | | | | | 27,029,000 | |
| TOTAL INVESTMENT SECURITIES | | | | | | | | |
| (Cost $53,620,421) - 110.9% | | | | | | | 66,373,778 | |
| Net other assets (liabilities) - (10.9)% | | | | | | | (6,524,979 | ) |
| | | | | | | | | |
| NET ASSETS - 100.0% | | | | | | $ | 59,848,799 | |
| * | Non-income producing security. |
| + | These securities were fair valued based on procedures approved by the Board of Trustees. As of January 31, 2023, these securities represented less than 0.005% of the net assets of the Fund. |
| (a) | On March 7, 2022, UCB SA acquired Zogenix Inc. As part of the acquisition, shareholders of Zogenix Inc. are entitled to a CVR per share of Zogenix Inc. held. The CVR has a potential cash payment of $2.00 upon EU approval by December 31, 2023, of FINTEPLA® as an orphan medicine for treatment of Lennox-Gastaut syndrome (LGS). Subsequent to the date of this report, it was determined that the required contingencies of this CVR had been satisfied. Consequently, each outstanding CVR was retired in exchange for a $2.00 cash payment, effective February 24, 2023. |
See accompanying notes to schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
| (b) | The ProFund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" under Note 2 in the Notes to the 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, 2023, the aggregate amount held in a segregated account was $9,123,000. |
| CVR | Contingent Value Rights |
| NM | Not meaningful, amount is less than 0.05%. |
See accompanying notes to schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
Futures Contracts Purchased
| | | Number
of
Contracts | | | Expiration
Date | | Notional
Amount | | | Value and
Unrealized
Appreciation/
(Depreciation) | |
| E-Mini Russell 2000 Index Futures Contracts | | | 67 | | | 3/20/23 | | $ | 6,496,990 | | | $ | 392,994 | |
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 | | 2/27/23 | | | 4.38 | % | | $ | 26,033,306 | | | $ | 359,382 | |
| Russell 2000 Index | | Goldman Sachs International | | 2/27/23 | | | 4.73 | % | | | 26,568,039 | | | | 539,992 | |
| | | | | | | | | | | $ | 52,601,345 | | | $ | 899,374 | |
| | | | | | | | | | | | | | | | | |
| iShares Russell 2000 ETF | | UBS AG | | 2/27/23 | | | 4.13 | % | | $ | 1,840,187 | | | $ | 17,426 | |
| Russell 2000 Index | | UBS AG | | 2/27/23 | | | 4.33 | % | | | 19,719,414 | | | | 201,051 | |
| | | | | | | | | | | $ | 21,559,601 | | | $ | 218,477 | |
| | | | | | | | | | | $ | 74,160,946 | | | $ | 1,117,851 | |
| (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, 2023, 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 schedules of portfolio investments.
UltraSmall-Cap ProFund :: Schedule of Portfolio Investments :: January 31, 2023 (unaudited)
UltraSmall-Cap ProFund invested in the following industries as of January 31, 2023:
| | | Value | | | % of
Net Assets | |
| Aerospace & Defense | | $ | 388,451 | | | | 0.6 | % |
| Air Freight & Logistics | | | 163,374 | | | | 0.3 | % |
| Airlines | | | 123,811 | | | | 0.2 | % |
| Auto Components | | | 572,789 | | | | 1.0 | % |
| Automobiles | | | 67,855 | | | | 0.1 | % |
| Banks | | | 3,564,981 | | | | 6.0 | % |
| Beverages | | | 220,372 | | | | 0.4 | % |
| Biotechnology | | | 2,814,840 | | | | 4.7 | % |
| Building Products | | | 526,806 | | | | 0.9 | % |
| Capital Markets | | | 653,170 | | | | 1.1 | % |
| Chemicals | | | 812,487 | | | | 1.4 | % |
| Commercial Services & Supplies | | | 547,287 | | | | 0.9 | % |
| Communications Equipment | | | 352,309 | | | | 0.6 | % |
| Construction & Engineering | | | 630,126 | | | | 1.1 | % |
| Construction Materials | | | 66,437 | | | | 0.1 | % |
| Consumer Discretionary Products | | | 10,818 | | | | | NM |
| Consumer Finance | | | 248,624 | | | | 0.4 | % |
| Containers & Packaging | | | 129,449 | | | | 0.2 | % |
| Distributors | | | 8,606 | | | | | NM |
| Diversified Consumer Services | | | 423,066 | | | | 0.7 | % |
| Diversified Financial Services | | | 125,003 | | | | 0.2 | % |
| Diversified Telecommunication Services | | | 253,979 | | | | 0.4 | % |
| Electric Utilities | | | 273,179 | | | | 0.5 | % |
| Electrical Equipment | | | 568,712 | | | | 0.9 | % |
| Electronic Equipment, Instruments & Components | | | 929,082 | | | | 1.5 | % |
| Energy Equipment & Services | | | 852,310 | | | | 1.4 | % |
| Entertainment | | | 119,675 | | | | 0.2 | % |
| Equity Real Estate Investment Trusts (REITs) | | | 2,348,766 | | | | 3.8 | % |
| Food & Staples Retailing | | | 230,862 | | | | 0.4 | % |
| Food Products | | | 446,037 | | | | 0.7 | % |
| Gas Utilities | | | 404,628 | | | | 0.7 | % |
| Health Care Equipment & Supplies | | | 1,348,980 | | | | 2.3 | % |
| Health Care Providers & Services | | | 989,089 | | | | 1.6 | % |
| Health Care Technology | | | 348,690 | | | | 0.6 | % |
| Hotels, Restaurants & Leisure | | | 998,577 | | | | 1.7 | % |
| Household Durables | | | 672,464 | | | | 1.1 | % |
| Household Products | | | 108,147 | | | | 0.2 | % |
| Independent Power and Renewable Electricity Producers | | | 180,253 | | | | 0.3 | % |
| Industrial Conglomerates | | | 9,287 | | | | | NM |
| Insurance | | | 823,695 | | | | 1.4 | % |
| Interactive Media & Services | | | 271,863 | | | | 0.5 | % |
| Internet & Direct Marketing Retail | | | 167,385 | | | | 0.3 | % |
| IT Services | | | 811,958 | | | | 1.4 | % |
| Leisure Products | | | 249,428 | | | | 0.4 | % |
| Life Sciences Tools & Services | | | 297,643 | | | | 0.5 | % |
| Machinery | | | 1,568,428 | | | | 2.6 | % |
| Marine | | | 96,036 | | | | 0.2 | % |
| Media | | | 361,554 | | | | 0.6 | % |
| Metals & Mining | | | 656,865 | | | | 1.1 | % |
| Mortgage Real Estate Investment Trusts (REITs) | | | 502,897 | | | | 0.8 | % |
| Multiline Retail | | | 32,108 | | | | 0.1 | % |
| Multi-Utilities | | | 186,780 | | | | 0.3 | % |
| Oil, Gas & Consumable Fuels | | | 1,740,854 | | | | 2.9 | % |
| Paper & Forest Products | | | 79,218 | | | | 0.1 | % |
| Personal Products | | | 291,281 | | | | 0.5 | % |
| Pharmaceuticals | | | 718,681 | | | | 1.2 | % |
| Professional Services | | | 621,946 | | | | 1.0 | % |
| Real Estate Management & Development | | | 273,565 | | | | 0.5 | % |
| Road & Rail | | | 247,488 | | | | 0.4 | % |
| Semiconductors & Semiconductor Equipment | | | 1,103,021 | | | | 1.8 | % |
| Software | | | 1,788,133 | | | | 3.0 | % |
| Specialty Retail | | | 915,356 | | | | 1.5 | % |
| Technology Hardware, Storage & Peripherals | | | 152,097 | | | | 0.3 | % |
| Textiles, Apparel & Luxury Goods | | | 287,236 | | | | 0.5 | % |
| Thrifts & Mortgage Finance | | | 583,551 | | | | 1.0 | % |
| Tobacco | | | 58,276 | | | | 0.1 | % |
| Trading Companies & Distributors | | | 680,914 | | | | 1.1 | % |
| Water Utilities | | | 186,550 | | | | 0.3 | % |
| Wireless Telecommunication Services | | | 56,593 | | | | 0.1 | % |
| Other ** | | | 20,504,021 | | | | 34.3 | % |
| Total | | $ | 59,848,799 | | | | 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 schedules of portfolio investments.
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 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.
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/ Denise Lewis | |
| | Denise Lewis, 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/ Denise Lewis | |
| | Denise Lewis, Treasurer and Principal Financial Officer | |
* Print the name and title of each signing officer under his or her signature.
