ProShares UltraPro Short QQQ (SQQQ) NPORT-P ProShares UltraShort MidCap400 (Feb 2024 report)

FEBRUARY

29,

2024

(UNAUDITED)

::

SHORT

7-10

YEAR

TREASURY

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

1

TBX

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

90

.0

%

Repurchase

Agreements

(a)

—

90

.0

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$13,944,513

(Cost

$13,942,461)

$

13,942,461

$

13,942,461

Total

Investments

—

90.0%

(Cost

$13,942,461)

13,942,461

Other

assets

less

liabilities

—

10.0%

1,547,630

Net

Assets

—

100.0%

$

15,490,091

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Futures

Contracts

Sold

Short

7-10

Year

Treasury

had

the

following

open

short

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

A

Expiration

Date

A

Trading

Currency

A

Notional

Amount

A

Value

and

Unrealized

Depreciation

A

U.S.

Treasury

10

Year

Note

3

6/18/2024

U.S.

Dollar

$

331,500

$

(

709

)

Swap

Agreements

Short

7-10

Year

Treasury

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

/

(Depreciation)

($)

(5,615,843)

11/6/2024

Bank

of

America

NA

(4.84)%

ICE

U.S.

Treasury

7-10

Year

Bond

Index

257,471

(3,444,212)

11/6/2024

Citibank

NA

(4.86)%

ICE

U.S.

Treasury

7-10

Year

Bond

Index

(

427,614

)

(6,163,364)

12/10/2024

Goldman

Sachs

International

(5.11)%

ICE

U.S.

Treasury

7-10

Year

Bond

Index

80,487

(15,223,419)

(

89,656

)

Total

Unrealized

Appreciation

337,958

Total

Unrealized

Depreciation

(

427,614

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

SHORT

20+

YEAR

TREASURY

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

2

TBF

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

93

.7

%

Repurchase

Agreements

(a)

—

24

.7

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$23,120,384

(Cost

$23,116,984)

$

23,116,984

$

23,116,984

U.S.

Treasury

Obligations

(b)

—

69

.0

%

U.S.

Treasury

Bills

5.46%,

3/28/2024

(c)

40,000,000

39,841,750

5.30%,

5/21/2024

(c)

25,000,000

24,706,066

Total

U.S.

Treasury

Obligations

(Cost

$64,546,895)

64,547,816

Total

Short-Term

Investments

(Cost

$87,663,879)

87,664,800

Total

Investments

—

93.7%

(Cost

$87,663,879)

87,664,800

Other

assets

less

liabilities

—

6.3%

5,919,650

Net

Assets

—

100.0%

$

93,584,450

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

(b)

All

or

a

portion

of

these

securities

are

segregated

in

connection

with

obligations

for

swaps

with

a

total

value

of

$6,698,963.

(c)

The

rate

shown

was

the

current

yield

as

of

February

29,

2024.

Futures

Contracts

Sold

Short

20+

Year

Treasury

had

the

following

open

short

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

A

Expiration

Date

A

Trading

Currency

A

Notional

Amount

A

Value

and

Unrealized

Depreciation

A

U.S.

Treasury

Long

Bond

20

6/18/2024

U.S.

Dollar

$

2,385,625

$

(

6,288

)

Swap

Agreements

Short

20+

Year

Treasury

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

/

(Depreciation)

($)

(19,658,042)

11/6/2024

Bank

of

America

NA

(5.03)%

ICE

U.S.

Treasury

20+

Year

Bond

Index

1,522,043

(8,836,416)

11/6/2024

Barclays

Capital

(5.11)%

ICE

U.S.

Treasury

20+

Year

Bond

Index

(

676,847

)

(10,965,513)

11/6/2024

Citibank

NA

(4.88)%

ICE

U.S.

Treasury

20+

Year

Bond

Index

(

4,785,234

)

(13,419,568)

12/10/2024

Goldman

Sachs

International

(4.91)%

ICE

U.S.

Treasury

20+

Year

Bond

Index

(

1,122

)

(25,789,525)

11/6/2024

Morgan

Stanley

&

Co.

International

plc

(5.16)%

ICE

U.S.

Treasury

20+

Year

Bond

Index

405,638

(13,458,077)

11/6/2024

Societe

Generale

(5.01)%

ICE

U.S.

Treasury

20+

Year

Bond

Index

5,828,142

(92,127,141)

2,292,620

Total

Unrealized

Appreciation

7,755,823

Total

Unrealized

Depreciation

(

5,463,203

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

FEBRUARY

29,

2024

(UNAUDITED)

::

SHORT

DOW30

~

SM

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

3

DOG

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

111

.7

%

Repurchase

Agreements

(a)

—

54

.1

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$93,128,209

(Cost

$93,114,510)

$

93,114,510

$

93,114,510

U.S.

Treasury

Obligations

(b)

—

57

.6

%

U.S.

Treasury

Bills

5.29%,

4/4/2024

(c)

25,000,000

24,875,294

5.32%,

5/9/2024

(c)

50,000,000

49,497,115

5.17%,

7/5/2024

(c)

25,000,000

24,549,375

Total

U.S.

Treasury

Obligations

(Cost

$98,936,077)

98,921,784

Total

Short-Term

Investments

(Cost

$192,050,587)

192,036,294

Total

Investments

—

111.7%

(Cost

$192,050,587)

192,036,294

Liabilities

in

excess

of

other

assets

—

(11.7%)

(

20,051,307

)

Net

Assets

—

100.0%

$

171,984,987

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

(b)

All

or

a

portion

of

these

securities

are

segregated

in

connection

with

obligations

for

swaps

with

a

total

value

of

$34,062,761.

(c)

The

rate

shown

was

the

current

yield

as

of

February

29,

2024.

Futures

Contracts

Sold

Short

Dow30

SM

had

the

following

open

short

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

A

Expiration

Date

A

Trading

Currency

A

Notional

Amount

A

Value

and

Unrealized

Depreciation

A

DJIA

CBOT

E-Mini

Index

19

3/15/2024

U.S.

Dollar

$

3,709,085

$

(

69,291

)

Swap

Agreements

Short

Dow30

SM

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(19,888,159)

3/6/2025

Bank

of

America

NA

(5.78)%

Dow

Jones

Industrial

Average

SM

(

2,520,164

)

(10,646,015)

11/6/2025

Barclays

Capital

(5.53)%

Dow

Jones

Industrial

Average

SM

(

2,472,172

)

(31,041,126)

2/11/2025

BNP

Paribas

SA

(5.63)%

Dow

Jones

Industrial

Average

SM

(

3,781,556

)

(19,576,188)

3/6/2025

Citibank

NA

(5.63)%

Dow

Jones

Industrial

Average

SM

(

4,316,978

)

(17,080,419)

11/7/2024

Goldman

Sachs

International

(5.68)%

Dow

Jones

Industrial

Average

SM

(

2,784,442

)

(38,606,426)

11/14/2024

Societe

Generale

(5.63)%

Dow

Jones

Industrial

Average

SM

(

4,778,098

)

(31,388,272)

11/7/2024

UBS

AG

(5.18)%

Dow

Jones

Industrial

Average

SM

(

4,195,536

)

(168,226,605)

(

24,848,946

)

Total

Unrealized

Depreciation

(

24,848,946

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

SHORT

FINANCIALS

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

4

SEF

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

147

.8

%

Repurchase

Agreements

(a)

—

54

.3

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$8,576,099

(Cost

$8,574,836)

$

8,574,836

$

8,574,836

U.S.

Treasury

Obligations

(b)

—

93

.5

%

U.S.

Treasury

Bills

5.30%,

5/9/2024

(c)

8,000,000

7,919,538

5.08%,

8/8/2024

(c)

7,000,000

6,840,509

Total

U.S.

Treasury

Obligations

(Cost

$14,765,837)

14,760,047

Total

Short-Term

Investments

(Cost

$23,340,673)

23,334,883

Total

Investments

—

147.8%

(Cost

$23,340,673)

23,334,883

Liabilities

in

excess

of

other

assets

—

(47.8%)

(

7,543,054

)

Net

Assets

—

100.0%

$

15,791,829

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

(b)

All

or

a

portion

of

these

securities

are

segregated

in

connection

with

obligations

for

swaps

with

a

total

value

of

$6,803,520.

(c)

The

rate

shown

was

the

current

yield

as

of

February

29,

2024.

Swap

Agreements

Short

Financials

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(2,617,948)

3/6/2025

Bank

of

America

NA

(5.43)%

S&P

Financial

Select

Sector

Index

c

(

1,045,328

)

(6,163,675)

3/6/2025

BNP

Paribas

SA

(5.63)%

S&P

Financial

Select

Sector

Index

c

(

2,031,661

)

(213,568)

4/7/2025

Citibank

NA

(5.28)%

S&P

Financial

Select

Sector

Index

c

(

37,683

)

(1,394,649)

3/6/2025

Goldman

Sachs

International

(5.43)%

S&P

Financial

Select

Sector

Index

c

(

140,895

)

(3,166,768)

3/6/2025

Societe

Generale

(5.63)%

S&P

Financial

Select

Sector

Index

c

(

1,875,932

)

(2,220,115)

3/6/2025

UBS

AG

(5.43)%

S&P

Financial

Select

Sector

Index

c

(

1,840,270

)

(15,776,723)

(

6,971,769

)

Total

Unrealized

Depreciation

(

6,971,769

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

c

See

the

Common

Stocks

section

of

the

Schedule

of

Portfolio

Investments

of

ProShares

Ultra

Financials

for

the

components

of

the

underlying

reference

instrument

and

their

relative

weightings.

FEBRUARY

29,

2024

(UNAUDITED)

::

SHORT

FTSE

CHINA

50

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

5

YXI

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

65

.7

%

Repurchase

Agreements

(a)

—

65

.7

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$4,463,729

(Cost

$4,463,072)

$

4,463,072

$

4,463,072

Total

Investments

—

65.7%

(Cost

$4,463,072)

4,463,072

Other

assets

less

liabilities

—

34.3%

2,329,931

Net

Assets

—

100.0%

$

6,793,003

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

a

Short

FTSE

China

50

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

b

Counterparty

Rate

Paid

(Received)

c

Reference

Instrument

Value

and

Unrealized

Appreciation

/

(Depreciation)

($)

(1,962,243)

11/14/2024

Bank

of

America

NA

(3.83)%

iShares

®

China

Large-Cap

ETF

378,194

(632,077)

11/14/2024

Citibank

NA

(2.58)%

iShares

®

China

Large-Cap

ETF

264,233

(2,342,743)

3/6/2025

Goldman

Sachs

International

(4.83)%

iShares

®

China

Large-Cap

ETF

26,901

(1,451,826)

11/14/2024

Societe

Generale

(3.88)%

iShares

®

China

Large-Cap

ETF

(

28,866

)

(398,541)

11/14/2024

UBS

AG

(3.58)%

iShares

®

China

Large-Cap

ETF

480,966

(6,787,430)

1,121,428

Total

Unrealized

Appreciation

1,150,294

Total

Unrealized

Depreciation

(

28,866

)

a

In

order

to

facilitate

the

daily

valuation

of

these

swap

transactions

as

of

close

of

business

New

York

time,

one

or

more

financial

products

traded

on

a

U.S.

exchange

are

used

as

the

reference

entity

as

a

surrogate

for

the

respective

underlying

index

for

the

purposes

of

both

daily

valuation

calculation

as

well

as

final

settlement

of

the

swap.

b

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

c

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

SHORT

HIGH

YIELD

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

6

SJB

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

110

.4

%

Repurchase

Agreements

(a)

—

15

.8

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$18,069,262

(Cost

$18,066,606)

$

18,066,606

$

18,066,606

U.S.

Treasury

Obligations

(b)

—

94

.6

%

U.S.

Treasury

Bills

5.44%,

3/21/2024

(c)

75,000,000

74,779,791

5.30%,

5/9/2024

(c)

20,000,000

19,798,846

5.08%,

8/8/2024

(c)

14,000,000

13,681,018

Total

U.S.

Treasury

Obligations

(Cost

$108,271,177)

108,259,655

Total

Short-Term

Investments

(Cost

$126,337,783)

126,326,261

Total

Investments

—

110.4%

(Cost

$126,337,783)

126,326,261

Liabilities

in

excess

of

other

assets

—

(10.4%)

(

11,876,693

)

Net

Assets

—

100.0%

$

114,449,568

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

(b)

All

or

a

portion

of

these

securities

are

segregated

in

connection

with

obligations

for

swaps

with

a

total

value

of

$23,820,635.

(c)

The

rate

shown

was

the

current

yield

as

of

February

29,

2024.

Swap

Agreements

a

Short

High

Yield

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

b

Counterparty

Rate

Paid

(Received)

c

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(8,871,497)

3/7/2024

BNP

Paribas

SA

(3.33)%

iShares

®

iBoxx

$

High

Yield

Corporate

Bond

ETF

(

2,470,251

)

(91,951,308)

3/6/2025

Citibank

NA

(2.58)%

iShares

®

iBoxx

$

High

Yield

Corporate

Bond

ETF

(

10,703,851

)

(8,233,879)

11/7/2024

Goldman

Sachs

International

(1.08)%

iShares

®

iBoxx

$

High

Yield

Corporate

Bond

ETF

(

498,353

)

(5,655,838)

3/6/2024

UBS

AG

(2.33)%

iShares

®

iBoxx

$

High

Yield

Corporate

Bond

ETF

(

780,433

)

(114,712,522)

(

14,452,888

)

Total

Unrealized

Depreciation

(

14,452,888

)

a

In

order

to

facilitate

the

daily

valuation

of

these

swap

transactions

as

of

close

of

business

New

York

time,

one

or

more

financial

products

traded

on

a

U.S.

exchange

are

used

as

the

reference

entity

as

a

surrogate

for

the

respective

underlying

index

for

the

purposes

of

both

daily

valuation

calculation

as

well

as

final

settlement

of

the

swap.

b

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

c

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

FEBRUARY

29,

2024

(UNAUDITED)

::

SHORT

MIDCAP400

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

7

MYY

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

92

.7

%

Repurchase

Agreements

(a)

—

92

.7

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$5,671,537

(Cost

$5,670,702)

$

5,670,702

$

5,670,702

Total

Investments

—

92.7%

(Cost

$5,670,702)

5,670,702

Other

assets

less

liabilities

—

7.3%

445,846

Net

Assets

—

100.0%

$

6,116,548

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Futures

Contracts

Sold

Short

MidCap400

had

the

following

open

short

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

A

Expiration

Date

A

Trading

Currency

A

Notional

Amount

A

Value

and

Unrealized

Depreciation

A

S&P

Midcap

400

E-Mini

Index

2

3/15/2024

U.S.

Dollar

$

578,520

$

(

48,654

)

Swap

Agreements

Short

MidCap400

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

/

(Depreciation)

($)

(974,156)

2/11/2025

Bank

of

America

NA

(5.68)%

S&P

MidCap

400

®

(

748,221

)

(659,073)

2/11/2025

BNP

Paribas

SA

(5.53)%

S&P

MidCap

400

®

(

317,891

)

(1,422,209)

3/6/2025

Citibank

NA

(5.53)%

S&P

MidCap

400

®

(

279,938

)

(1,138,924)

3/6/2024

Morgan

Stanley

&

Co.

International

plc

(5.13)%

S&P

MidCap

400

®

(

164,154

)

(1,341,271)

11/14/2024

Societe

Generale

(5.31)%

S&P

MidCap

400

®

58,276

(5,535,633)

(

1,451,928

)

Total

Unrealized

Appreciation

58,276

Total

Unrealized

Depreciation

(

1,510,204

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

SHORT

MSCI

EAFE

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

8

EFZ

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

92

.8

%

Repurchase

Agreements

(a)

—

92

.8

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$23,944,944

(Cost

$23,941,423)

$

23,941,423

$

23,941,423

Total

Investments

—

92.8%

(Cost

$23,941,423)

23,941,423

Other

assets

less

liabilities

—

7.2%

1,867,995

Net

Assets

—

100.0%

$

25,809,418

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

a

Short

MSCI

EAFE

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

b

Counterparty

Rate

Paid

(Received)

c

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(2,357,626)

11/14/2024

Citibank

NA

(4.93)%

iShares

®

MSCI

EAFE

ETF

(

479,772

)

(13,733,478)

3/6/2025

Goldman

Sachs

International

(5.38)%

iShares

®

MSCI

EAFE

ETF

(

1,818,905

)

(4,895,434)

11/14/2024

Societe

Generale

(4.73)%

iShares

®

MSCI

EAFE

ETF

(

1,897,789

)

(4,886,272)

3/6/2025

UBS

AG

(4.93)%

iShares

®

MSCI

EAFE

ETF

(

2,089,079

)

(25,872,810)

(

6,285,545

)

Total

Unrealized

Depreciation

(

6,285,545

)

a

In

order

to

facilitate

the

daily

valuation

of

these

swap

transactions

as

of

close

of

business

New

York

time,

one

or

more

financial

products

traded

on

a

U.S.

exchange

are

used

as

the

reference

entity

as

a

surrogate

for

the

respective

underlying

index

for

the

purposes

of

both

daily

valuation

calculation

as

well

as

final

settlement

of

the

swap.

b

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

c

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

FEBRUARY

29,

2024

(UNAUDITED)

::

SHORT

MSCI

EMERGING

MARKETS

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

9

EUM

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

91

.8

%

Repurchase

Agreements

(a)

—

91

.8

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$17,847,268

(Cost

$17,844,642)

$

17,844,642

$

17,844,642

Total

Investments

—

91.8%

(Cost

$17,844,642)

17,844,642

Other

assets

less

liabilities

—

8.2%

1,583,721

Net

Assets

—

100.0%

$

19,428,363

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

a

Short

MSCI

Emerging

Markets

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

b

Counterparty

Rate

Paid

(Received)

c

Reference

Instrument

Value

and

Unrealized

Appreciation

/

(Depreciation)

($)

(6,800,200)

3/6/2025

Bank

of

America

NA

(4.53)%

iShares

®

MSCI

Emerging

Markets

ETF

90,964

(2,780,244)

11/14/2024

Citibank

NA

(4.78)%

iShares

®

MSCI

Emerging

Markets

ETF

(

52,543

)

(2,699,054)

4/10/2024

Goldman

Sachs

International

(4.83)%

iShares

®

MSCI

Emerging

Markets

ETF

(

3,941

)

(486,100)

11/14/2024

Morgan

Stanley

&

Co.

International

plc

(4.78)%

iShares

®

MSCI

Emerging

Markets

ETF

460

(1,262,612)

11/14/2024

Societe

Generale

(3.83)%

iShares

®

MSCI

Emerging

Markets

ETF

(

599,714

)

(5,406,434)

4/10/2024

UBS

AG

(4.23)%

iShares

®

MSCI

Emerging

Markets

ETF

(

1,883,676

)

(19,434,644)

(

2,448,450

)

Total

Unrealized

Appreciation

91,424

Total

Unrealized

Depreciation

(

2,539,874

)

a

In

order

to

facilitate

the

daily

valuation

of

these

swap

transactions

as

of

close

of

business

New

York

time,

one

or

more

financial

products

traded

on

a

U.S.

exchange

are

used

as

the

reference

entity

as

a

surrogate

for

the

respective

underlying

index

for

the

purposes

of

both

daily

valuation

calculation

as

well

as

final

settlement

of

the

swap.

b

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

c

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

SHORT

QQQ

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

10

PSQ

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

136

.5

%

Repurchase

Agreements

(a)

—

27

.2

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$163,198,658

(Cost

$163,174,653)

$

163,174,653

$

163,174,653

U.S.

Treasury

Obligations

(b)

—

109

.3

%

U.S.

Treasury

Bills

5.29%,

3/5/2024

(c)

25,000,000

24,985,373

5.29%,

3/12/2024

(c)

125,000,000

124,798,563

5.42%,

3/14/2024

(c)

50,000,000

49,904,874

5.44%,

3/21/2024

(c)

75,000,000

74,779,792

5.46%,

3/28/2024

(c)

75,000,000

74,703,281

5.31%,

4/2/2024

(c)

50,000,000

49,764,667

5.29%,

4/4/2024

(c)

30,000,000

29,850,353

5.28%,

4/11/2024

(c)

25,000,000

24,849,809

5.31%,

5/2/2024

(c)

25,000,000

24,773,291

5.30%,

5/21/2024

(c)

50,000,000

49,412,131

5.17%,

7/5/2024

(c)

30,000,000

29,459,250

4.91%,

7/11/2024

(c)

100,000,000

98,114,600

Total

U.S.

Treasury

Obligations

(Cost

$655,547,786)

655,395,984

Total

Short-Term

Investments

(Cost

$818,722,439)

818,570,637

Total

Investments

—

136.5%

(Cost

$818,722,439)

818,570,637

Liabilities

in

excess

of

other

assets

—

(36.5%)

(

218,954,504

)

Net

Assets

—

100.0%

$

599,616,133

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

(b)

All

or

a

portion

of

these

securities

are

segregated

in

connection

with

obligations

for

swaps

with

a

total

value

of

$242,224,506.

(c)

The

rate

shown

was

the

current

yield

as

of

February

29,

2024.

Futures

Contracts

Sold

Short

QQQ

had

the

following

open

short

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

A

Expiration

Date

A

Trading

Currency

A

Notional

Amount

A

Value

and

Unrealized

Depreciation

A

Nasdaq

100

E-Mini

Index

100

3/15/2024

U.S.

Dollar

$

36,165,500

$

(

1,631,887

)

FEBRUARY

29,

2024

(UNAUDITED)

::

SHORT

QQQ

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

11

PSQ

::

Swap

Agreements

Short

QQQ

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(45,037,450)

3/6/2025

Bank

of

America

NA

(5.68)%

Nasdaq-100

Index

®

(

22,599,022

)

(37,007,936)

11/6/2025

Barclays

Capital

(5.53)%

Nasdaq-100

Index

®

(

9,740,256

)

(77,137,459)

11/6/2025

BNP

Paribas

SA

(5.73)%

Nasdaq-100

Index

®

(

20,750,779

)

(70,280,796)

11/6/2025

Citibank

NA

(5.68)%

Nasdaq-100

Index

®

(

14,711,538

)

(54,546,558)

11/7/2024

Goldman

Sachs

International

(5.68)%

Nasdaq-100

Index

®

(

29,338,952

)

(52,543,691)

4/7/2025

J.P.

Morgan

Securities

(5.63)%

Nasdaq-100

Index

®

(

4,684,113

)

(49,512,324)

4/10/2025

Morgan

Stanley

&

Co.

International

plc

(5.13)%

Nasdaq-100

Index

®

(

7,479,088

)

(97,725,492)

11/14/2024

Societe

Generale

(5.98)%

Nasdaq-100

Index

®

(

66,404,077

)

(79,640,646)

11/7/2024

UBS

AG

(5.48)%

Nasdaq-100

Index

®

(

47,256,520

)

(563,432,352)

(

222,964,345

)

Total

Unrealized

Depreciation

(

222,964,345

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

SHORT

REAL

ESTATE

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

12

REK

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

118

.1

%

Repurchase

Agreements

(a)

—

65

.0

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$16,888,720

(Cost

$16,886,236)

$

16,886,236

$

16,886,236

U.S.

Treasury

Obligations

(b)

—

53

.1

%

U.S.

Treasury

Bills

5.30%,

5/9/2024

(c)

7,000,000

6,929,596

5.08%,

8/8/2024

(c)

7,000,000

6,840,509

Total

U.S.

Treasury

Obligations

(Cost

$13,775,858)

13,770,105

Total

Short-Term

Investments

(Cost

$30,662,094)

30,656,341

Total

Investments

—

118.1%

(Cost

$30,662,094)

30,656,341

Liabilities

in

excess

of

other

assets

—

(18.1%)

(

4,689,212

)

Net

Assets

—

100.0%

$

25,967,129

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

(b)

All

or

a

portion

of

these

securities

are

segregated

in

connection

with

obligations

for

swaps

with

a

total

value

of

$6,823,065.

(c)

The

rate

shown

was

the

current

yield

as

of

February

29,

2024.

Swap

Agreements

Short

Real

Estate

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(4,463,353)

3/6/2025

Bank

of

America

NA

(5.68)%

S&P

Real

Estate

Select

Sector

index

c

(

416,015

)

(6,932,475)

3/6/2025

BNP

Paribas

SA

(5.63)%

S&P

Real

Estate

Select

Sector

index

c

(

2,215,907

)

(2,024,956)

4/7/2025

Citibank

NA

(5.23)%

S&P

Real

Estate

Select

Sector

index

c

(

131,063

)

(2,010,938)

3/6/2025

Goldman

Sachs

International

(5.43)%

S&P

Real

Estate

Select

Sector

index

c

(

567,313

)

(6,851,439)

3/6/2025

Societe

Generale

(5.58)%

S&P

Real

Estate

Select

Sector

index

c

(

1,087,077

)

(3,589,041)

3/6/2025

UBS

AG

(4.98)%

S&P

Real

Estate

Select

Sector

index

c

(

228,068

)

(25,872,202)

(

4,645,443

)

Total

Unrealized

Depreciation

(

4,645,443

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

c

See

the

Common

Stocks

section

of

the

Schedule

of

Portfolio

Investments

of

ProShares

Ultra

Real

Estate

for

the

components

of

the

underlying

reference

instrument

and

their

relative

weightings.

FEBRUARY

29,

2024

(UNAUDITED)

::

SHORT

RUSSELL2000

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

13

RWM

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

115

.7

%

Repurchase

Agreements

(a)

—

21

.6

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$45,728,839

(Cost

$45,722,112)

$

45,722,112

$

45,722,112

U.S.

Treasury

Obligations

(b)

—

94

.1

%

U.S.

Treasury

Bills

5.32%,

3/12/2024

(c)

25,000,000

24,959,713

5.44%,

3/21/2024

(c)

100,000,000

99,706,389

5.28%,

4/11/2024

(c)

25,000,000

24,849,809

5.32%,

5/9/2024

(c)

50,000,000

49,497,114

Total

U.S.

Treasury

Obligations

(Cost

$199,017,747)

199,013,025

Total

Short-Term

Investments

(Cost

$244,739,859)

244,735,137

Total

Investments

—

115.7%

(Cost

$244,739,859)

244,735,137

Liabilities

in

excess

of

other

assets

—

(15.7%)

(

33,202,970

)

Net

Assets

—

100.0%

$

211,532,167

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

(b)

All

or

a

portion

of

these

securities

are

segregated

in

connection

with

obligations

for

swaps

with

a

total

value

of

$51,233,441.

(c)

The

rate

shown

was

the

current

yield

as

of

February

29,

2024.

Futures

Contracts

Sold

Short

Russell2000

had

the

following

open

short

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

A

Expiration

Date

A

Trading

Currency

A

Notional

Amount

A

Value

and

Unrealized

Depreciation

A

Russell

2000

E-Mini

Index

135

3/15/2024

U.S.

Dollar

$

13,886,775

$

(

236,481

)

Swap

Agreements

Short

Russell2000

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(21,697,055)

3/6/2024

Bank

of

America

NA

(5.08)%

Russell

2000

®

Index

(

7,306,593

)

(29,427,364)

11/6/2025

Barclays

Capital

(5.43)%

Russell

2000

®

Index

(

7,785,236

)

(34,922,006)

2/11/2025

BNP

Paribas

SA

(5.23)%

Russell

2000

®

Index

(

8,648,374

)

(26,034,823)

3/6/2025

Citibank

NA

(5.14)%

Russell

2000

®

Index

(

5,783,151

)

(20,239,007)

11/7/2024

Goldman

Sachs

International

(5.33)%

Russell

2000

®

Index

(

1,798,086

)

(14,817,451)

3/6/2024

Morgan

Stanley

&

Co.

International

plc

(5.03)%

Russell

2000

®

Index

(

2,951,462

)

(23,879,296)

11/14/2024

Societe

Generale

(5.18)%

Russell

2000

®

Index

(

2,353,693

)

(26,625,920)

11/7/2024

UBS

AG

(4.83)%

Russell

2000

®

Index

(

2,634,832

)

(197,642,922)

(

39,261,427

)

Total

Unrealized

Depreciation

(

39,261,427

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

SHORT

S&P500

®

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

14

SH

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

127

.7

%

Repurchase

Agreements

(a)

—

14

.6

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$151,423,056

(Cost

$151,400,781)

$

151,400,781

$

151,400,781

U.S.

Treasury

Obligations

(b)

—

113

.1

%

U.S.

Treasury

Bills

5.35%,

3/5/2024

(c)

75,000,000

74,956,120

5.32%,

3/12/2024

(c)

75,000,000

74,879,138

5.42%,

3/14/2024

(c)

150,000,000

149,714,623

5.44%,

3/21/2024

(c)

1,000,000

997,064

5.46%,

3/28/2024

(c)

100,000,000

99,604,375

5.31%,

4/2/2024

(c)

75,000,000

74,647,000

5.29%,

4/4/2024

(c)

30,000,000

29,850,353

5.29%,

4/11/2024

(c)

75,000,000

74,549,427

5.37%,

4/18/2024

(c)

100,000,000

99,298,000

5.32%,

4/25/2024

(c)

50,000,000

49,596,628

5.31%,

5/2/2024

(c)

50,000,000

49,546,582

5.32%,

5/9/2024

(c)

100,000,000

98,994,229

5.30%,

5/21/2024

(c)

125,000,000

123,530,328

5.30%,

5/23/2024

(c)

50,000,000

49,396,463

5.17%,

7/5/2024

(c)

30,000,000

29,459,250

5.13%,

7/25/2024

(c)

50,000,000

48,959,750

5.25%,

8/8/2024

(c)

50,000,000

48,860,778

Total

U.S.

Treasury

Obligations

(Cost

$1,176,915,020)

1,176,840,108

Total

Short-Term

Investments

(Cost

$1,328,315,801)

1,328,240,889

Total

Investments

—

127.7%

(Cost

$1,328,315,801)

1,328,240,889

Liabilities

in

excess

of

other

assets

—

(27.7%)

(

288,059,002

)

Net

Assets

—

100.0%

$

1,040,181,887

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

(b)

All

or

a

portion

of

these

securities

are

segregated

in

connection

with

obligations

for

swaps

with

a

total

value

of

$328,228,003.

(c)

The

rate

shown

was

the

current

yield

as

of

February

29,

2024.

Futures

Contracts

Sold

Short

S&P500

®

had

the

following

open

short

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

A

Expiration

Date

A

Trading

Currency

A

Notional

Amount

A

Value

and

Unrealized

Depreciation

A

S&P

500

E-Mini

Index

412

3/15/2024

U.S.

Dollar

$

105,137,250

$

(

6,153,059

)

FEBRUARY

29,

2024

(UNAUDITED)

::

SHORT

S&P500

®

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

15

SH

::

Swap

Agreements

Short

S&P500

®

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(100,676,814)

3/6/2025

Bank

of

America

NA

(5.63)%

S&P

500

®

(

14,886,696

)

(98,709,654)

2/11/2025

BNP

Paribas

SA

(5.63)%

S&P

500

®

(

42,681,286

)

(120,215,913)

3/6/2025

Citibank

NA

(5.58)%

S&P

500

®

(

40,160,881

)

(85,179,057)

11/7/2024

Goldman

Sachs

International

(5.68)%

S&P

500

®

(

61,335,936

)

(139,133,267)

4/7/2025

J.P.

Morgan

Securities

(5.53)%

S&P

500

®

(

19,284,931

)

(167,249,389)

4/10/2025

Morgan

Stanley

&

Co.

International

plc

(5.13)%

S&P

500

®

(

12,003,595

)

(96,309,310)

11/14/2024

Societe

Generale

(5.68)%

S&P

500

®

(

48,021,318

)

(127,553,054)

11/7/2024

UBS

AG

(5.48)%

S&P

500

®

(

45,221,199

)

(935,026,458)

(

283,595,842

)

Total

Unrealized

Depreciation

(

283,595,842

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

SHORT

SMALLCAP600

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

16

SBB

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

99

.0

%

Repurchase

Agreements

(a)

—

99

.0

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$7,271,453

(Cost

$7,270,385)

$

7,270,385

$

7,270,385

Total

Investments

—

99.0%

(Cost

$7,270,385)

7,270,385

Other

assets

less

liabilities

—

1.0%

74,113

Net

Assets

—

100.0%

$

7,344,498

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

Short

SmallCap600

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(1,051,887)

3/6/2024

Bank

of

America

NA

(5.53)%

S&P

SmallCap

600

®

(

663,142

)

(2,018,943)

3/6/2025

Citibank

NA

(5.48)%

S&P

SmallCap

600

®

(

618,245

)

(1,477,339)

3/6/2024

Morgan

Stanley

&

Co.

International

plc

(4.98)%

S&P

SmallCap

600

®

(

148,487

)

(2,276,042)

11/14/2024

Societe

Generale

(5.18)%

S&P

SmallCap

600

®

(

949,881

)

(519,418)

3/6/2024

UBS

AG

(5.18)%

S&P

SmallCap

600

®

(

203,260

)

(7,343,629)

(

2,583,015

)

Total

Unrealized

Depreciation

(

2,583,015

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

7-10

YEAR

TREASURY

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

17

UST

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

97

.4

%

Repurchase

Agreements

(a)

—

97

.4

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$19,130,475

(Cost

$19,127,663)

$

19,127,663

$

19,127,663

Total

Investments

—

97.4%

(Cost

$19,127,663)

19,127,663

Other

assets

less

liabilities

—

2.6%

510,740

Net

Assets

—

100.0%

$

19,638,403

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Futures

Contracts

Purchased

Ultra

7-10

Year

Treasury

had

the

following

open

long

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

AAAAAA

Expiration

Date

AAAAAA

Trading

Currency

AA

Notional

Amount

AAAAAA

Value

and

Unrealized

Appreciation

AAAAAA

U.S.

Treasury

10

Year

Note

5

6/18/2024

U.S.

Dollar

$

552,500

$

1,085

Swap

Agreements

Ultra

7-10

Year

Treasury

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

/

(Depreciation)

($)

14,695,080

11/6/2024

Bank

of

America

NA

4.84%

ICE

U.S.

Treasury

7-10

Year

Bond

Index

(

429,209

)

13,585,651

11/6/2024

Citibank

NA

5.18%

ICE

U.S.

Treasury

7-10

Year

Bond

Index

377,533

10,512,049

11/6/2024

Goldman

Sachs

International

5.11%

ICE

U.S.

Treasury

7-10

Year

Bond

Index

(

307,774

)

38,792,780

(

359,450

)

Total

Unrealized

Appreciation

377,533

Total

Unrealized

Depreciation

(

736,983

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRA

20+

YEAR

TREASURY

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

18

UBT

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

91

.7

%

Repurchase

Agreements

(a)

—

91

.7

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$75,368,853

(Cost

$75,357,766)

$

75,357,766

$

75,357,766

Total

Investments

—

91.7%

(Cost

$75,357,766)

75,357,766

Other

assets

less

liabilities

—

8.3%

6,782,793

Net

Assets

—

100.0%

$

82,140,559

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Futures

Contracts

Purchased

Ultra

20+

Year

Treasury

had

the

following

open

long

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

AAAAAA

Expiration

Date

AAAAAA

Trading

Currency

AA

Notional

Amount

AAAAAA

Value

and

Unrealized

Appreciation

AAAAAA

U.S.

Treasury

Long

Bond

22

6/18/2024

U.S.

Dollar

$

2,624,188

$

6,146

Swap

Agreements

Ultra

20+

Year

Treasury

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

/

(Depreciation)

($)

41,717,306

11/6/2024

Bank

of

America

NA

5.03%

ICE

U.S.

Treasury

20+

Year

Bond

Index

(

2,473,149

)

35,588,669

11/6/2024

Citibank

NA

5.25%

ICE

U.S.

Treasury

20+

Year

Bond

Index

3,075,552

56,554,407

11/6/2024

Goldman

Sachs

International

4.91%

ICE

U.S.

Treasury

20+

Year

Bond

Index

(

3,446,497

)

28,574,511

11/6/2024

Societe

Generale

5.47%

ICE

U.S.

Treasury

20+

Year

Bond

Index

(

3,104,373

)

162,434,893

(

5,948,467

)

Total

Unrealized

Appreciation

3,075,552

Total

Unrealized

Depreciation

(

9,024,019

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

COMMUNICATION

SERVICES

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

19

LTL

::

Investments

Shares

Value

Common

Stocks

—

85

.4

%

Diversified

Telecommunication

Services

—

7.0%

AT&T,

Inc.

12,004

$

203,228

Verizon

Communications,

Inc.

5,310

212,506

415,734

Entertainment

—

18.0%

Electronic

Arts,

Inc.

1,481

206,570

Live

Nation

Entertainment,

Inc.*

892

86,506

Netflix,

Inc.*

448

270,108

Take-Two

Interactive

Software,

Inc.*

994

146,048

Walt

Disney

Co.

(The)

2,188

244,137

Warner

Bros

Discovery,

Inc.*

13,953

122,647

1,076,016

Interactive

Media

&

Services

—

44.5%

Alphabet,

Inc.,

Class

a

A*

4,153

575,025

Alphabet,

Inc.,

Class

a

C*

3,494

488,391

Match

Group,

Inc.*

1,709

61,592

Meta

Platforms,

Inc.,

Class

a

A

3,120

1,529,206

2,654,214

Media

—

12.4%

Charter

Communications,

Inc.,

Class

a

A*

552

162,249

Comcast

Corp.,

Class

a

A

4,824

206,709

Fox

Corp.,

Class

a

A

1,554

46,294

Fox

Corp.,

Class

a

B

830

22,725

Interpublic

Group

of

Cos.,

Inc.

(The)

2,408

75,611

News

Corp.,

Class

a

A

2,392

64,297

Investments

Shares

Value

Common

Stocks

(continued)

News

Corp.,

Class

a

B

722

$

20,209

Omnicom

Group,

Inc.

1,245

110,046

Paramount

Global,

Class

a

B

3,033

33,484

741,624

Wireless

Telecommunication

Services

—

3.5%

T-Mobile

US,

Inc.

1,298

211,963

Total

Common

Stocks

(Cost

$4,762,887)

5,099,551

Principal

Amount

Short-Term

Investments

—

6

.7

%

Repurchase

Agreements

(a)

—

6

.7

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$397,614

(Cost

$397,557)

$

397,557

397,557

Total

Investments

—

92.1%

(Cost

$5,160,444)

5,497,108

Other

assets

less

liabilities

—

7.9%

474,050

Net

Assets

—

100.0%

$

5,971,158

*

Non-income

producing

security.

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

Ultra

Communication

Services

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

($)

1,837,415

5/6/2025

Bank

of

America

NA

5.63%

S&P

Communication

Services

Select 

Sector

Index

c

36,406

3,371,152

3/6/2025

BNP

Paribas

SA

6.03%

S&P

Communication

Services

Select 

Sector

Index

c

138,775

137,733

3/6/2025

Goldman

Sachs

International

5.93%

S&P

Communication

Services

Select 

Sector

Index

c

15,037

1,239,187

5/6/2025

Societe

Generale

5.98%

S&P

Communication

Services

Select 

Sector

Index

c

29,662

258,458

5/6/2025

UBS

AG

5.68%

S&P

Communication

Services

Select 

Sector

Index

c

15,044

6,843,945

234,924

Total

Unrealized

Appreciation

234,924

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

c

See

the

Common

Stocks

section

of

the

preceding

Schedule

of

Portfolio

Investments

for

the

representative

components

of

the

underlying

reference

instrument

and

their

relative

weightings.

ULTRA

CONSUMER

DISCRETIONARY

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

20

UCC

::

Investments

Shares

Value

Common

Stocks

—

73

.3

%

Automobile

Components

—

0.6%

Aptiv

plc*

942

$

74,879

BorgWarner,

Inc.

783

24,375

99,254

Automobiles

—

12.5%

Ford

Motor

Co.

13,094

162,889

General

Motors

Co.

4,559

186,828

Tesla,

Inc.*

8,188

1,652,994

2,002,711

Broadline

Retail

—

19.6%

Amazon.com,

Inc.*

17,167

3,034,439

eBay,

Inc.

1,728

81,700

Etsy,

Inc.*

399

28,604

3,144,743

Distributors

—

1.1%

Genuine

Parts

Co.

467

69,704

LKQ

Corp.

891

46,590

Pool

Corp.

129

51,358

167,652

Hotels,

Restaurants

&

Leisure

—

17.4%

Airbnb,

Inc.,

Class

a

A*

1,448

228,017

Booking

Holdings,

Inc.*

116

402,384

Caesars

Entertainment,

Inc.*

718

31,211

Carnival

Corp.*

3,355

53,210

Chipotle

Mexican

Grill,

Inc.,

Class

a

A*

91

244,678

Darden

Restaurants,

Inc.

401

68,455

Domino's

Pizza,

Inc.

116

52,009

Expedia

Group,

Inc.*

444

60,748

Hilton

Worldwide

Holdings,

Inc.

854

174,489

Las

Vegas

Sands

Corp.

1,229

67,005

Marriott

International,

Inc.,

Class

a

A

822

205,393

McDonald's

Corp.

1,741

508,859

MGM

Resorts

International*

910

39,385

Norwegian

Cruise

Line

Holdings

Ltd.*

1,417

27,476

Royal

Caribbean

Cruises

Ltd.*

785

96,830

Starbucks

Corp.

3,805

361,095

Wynn

Resorts

Ltd.

320

33,664

Yum!

Brands,

Inc.

933

129,146

2,784,054

Household

Durables

—

3.5%

DR

Horton,

Inc.

1,004

150,038

Garmin

Ltd.

510

70,049

Lennar

Corp.,

Class

a

A

833

132,039

Mohawk

Industries,

Inc.*

176

20,877

NVR,

Inc.*

11

83,881

PulteGroup,

Inc.

718

77,817

Whirlpool

Corp.

183

19,652

554,353

Investments

Shares

Value

Common

Stocks

(continued)

Leisure

Products

—

0.1%

Hasbro,

Inc.

434

$

21,826

Specialty

Retail

—

14.2%

AutoZone,

Inc.*

59

177,355

Bath

&

Body

Works,

Inc.

757

34,595

Best

Buy

Co.,

Inc.

645

52,167

CarMax,

Inc.*

528

41,712

Home

Depot,

Inc.

(The)

1,483

564,445

Lowe's

Cos.,

Inc.

1,922

462,568

O'Reilly

Automotive,

Inc.*

197

214,222

Ross

Stores,

Inc.

1,128

168,027

TJX

Cos.,

Inc.

(The)

3,810

377,723

Tractor

Supply

Co.

360

91,555

Ulta

Beauty,

Inc.*

164

89,964

2,274,333

Textiles,

Apparel

&

Luxury

Goods

—

4.3%

Lululemon

Athletica,

Inc.*

383

178,896

NIKE,

Inc.,

Class

a

B

4,076

423,619

Ralph

Lauren

Corp.,

Class

a

A

132

24,541

Tapestry,

Inc.

763

36,265

VF

Corp.

1,101

17,990

681,311

Total

Common

Stocks

(Cost

$11,284,166)

11,730,237

Principal

Amount

Short-Term

Investments

—

8

.6

%

Repurchase

Agreements

(a)

—

8

.6

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$1,376,417

(Cost

$1,376,212)

$

1,376,212

1,376,212

Total

Investments

—

81.9%

(Cost

$12,660,378)

13,106,449

Other

assets

less

liabilities

—

18.1%

2,905,493

Net

Assets

—

100.0%

$

16,011,942

*

Non-income

producing

security.

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

CONSUMER

DISCRETIONARY

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

21

UCC

::

Swap

Agreements

Ultra

Consumer

Discretionary

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

($)

10,234,321

5/6/2025

BNP

Paribas

SA

6.03%

S&P

Consumer

Discretionary

Select

Sector

Index

c

535,770

2,068,838

3/6/2025

Goldman

Sachs

International

5.93%

S&P

Consumer

Discretionary

Select

Sector

Index

c

178,797

6,001,677

3/6/2025

Societe

Generale

6.08%

S&P

Consumer

Discretionary

Select

Sector

Index

c

303,772

1,957,109

3/6/2025

UBS

AG

5.68%

S&P

Consumer

Discretionary

Select

Sector

Index

c

707,591

20,261,945

1,725,930

Total

Unrealized

Appreciation

1,725,930

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

c

See

the

Common

Stocks

section

of

the

preceding

Schedule

of

Portfolio

Investments

for

the

representative

components

of

the

underlying

reference

instrument

and

their

relative

weightings.

ULTRA

CONSUMER

STAPLES

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

22

UGE

::

Investments

Shares

Value

Common

Stocks

—

80

.7

%

Beverages

—

19.6%

Brown-Forman

Corp.,

Class

a

B

455

$

27,405

Coca-Cola

Co.

(The)

8,425

505,669

Constellation

Brands,

Inc.,

Class

a

A

404

100,402

Keurig

Dr

Pepper,

Inc.

2,507

74,984

Molson

Coors

Beverage

Co.,

Class

a

B

459

28,651

Monster

Beverage

Corp.*

1,842

108,862

PepsiCo,

Inc.

2,977

492,217

1,338,190

Consumer

Staples

Distribution

&

Retail

—

22.6%

Costco

Wholesale

Corp.

959

713,390

Dollar

General

Corp.

547

79,485

Dollar

Tree,

Inc.*

519

76,127

Kroger

Co.

(The)

1,648

81,757

Sysco

Corp.

1,257

101,779

Target

Corp.

1,152

176,164

Walgreens

Boots

Alliance,

Inc.

1,785

37,949

Walmart,

Inc.

4,632

271,482

1,538,133

Food

Products

—

12.4%

Archer-Daniels-Midland

Co.

1,330

70,636

Bunge

Global

SA

364

34,351

Campbell

Soup

Co.

487

20,766

Conagra

Brands,

Inc.

1,191

33,443

General

Mills,

Inc.

1,446

92,804

Hershey

Co.

(The)

374

70,282

Hormel

Foods

Corp.

722

25,501

J

M

Smucker

Co.

(The)

266

31,965

Kellanova

656

36,178

Kraft

Heinz

Co.

(The)

1,986

70,066

Lamb

Weston

Holdings,

Inc.

362

37,000

McCormick

&

Co.,

Inc.

(Non-Voting)

625

43,038

Mondelez

International,

Inc.,

Class

a

A

3,279

239,597

Tyson

Foods,

Inc.,

Class

a

A

711

38,565

844,192

Household

Products

—

17.6%

Church

&

Dwight

Co.,

Inc.

614

61,474

Clorox

Co.

(The)

309

47,373

Colgate-Palmolive

Co.

2,052

177,539

Kimberly-Clark

Corp.

844

102,267

Procter

&

Gamble

Co.

(The)

5,102

810,912

1,199,565

Personal

Care

Products

—

2.5%

Estee

Lauder

Cos.,

Inc.

(The),

Class

a

A

578

85,879

Kenvue,

Inc.

4,292

81,548

167,427

Tobacco

—

6.0%

Altria

Group,

Inc.

4,401

180,045

Investments

Shares

Value

Common

Stocks

(continued)

Philip

Morris

International,

Inc.

2,549

$

229,308

409,353

Total

Common

Stocks

(Cost

$5,592,856)

5,496,860

Principal

Amount

Short-Term

Investments

—

9

.5

%

Repurchase

Agreements

(a)

—

9

.5

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$650,794

(Cost

$650,700)

$

650,700

650,700

Total

Investments

—

90.2%

(Cost

$6,243,556)

6,147,560

Other

assets

less

liabilities

—

9.8%

670,063

Net

Assets

—

100.0%

$

6,817,623

*

Non-income

producing

security.

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

CONSUMER

STAPLES

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

23

UGE

::

Swap

Agreements

Ultra

Consumer

Staples

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

/

(Depreciation)

($)

3,920,879

3/6/2025

Bank

of

America

NA

5.58%

S&P

Consumer

Staples

Select

Sector

Index

c

(

204,458

)

195,669

3/6/2025

Goldman

Sachs

International

5.93%

S&P

Consumer

Staples

Select

Sector

Index

c

(

3,690

)

3,457,570

3/6/2025

Societe

Generale

6.08%

S&P

Consumer

Staples

Select

Sector

Index

c

(

56,760

)

586,258

3/6/2025

UBS

AG

5.68%

S&P

Consumer

Staples

Select

Sector

Index

c

18,605

8,160,376

(

246,303

)

Total

Unrealized

Appreciation

18,605

Total

Unrealized

Depreciation

(

264,908

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

c

See

the

Common

Stocks

section

of

the

preceding

Schedule

of

Portfolio

Investments

for

the

representative

components

of

the

underlying

reference

instrument

and

their

relative

weightings.

ULTRA

DOW30

~

SM

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

24

DDM

::

Investments

Shares

Value

Common

Stocks

—

73

.0

%

Aerospace

&

Defense

—

2.5%

Boeing

Co.

(The)*

50,540

$

10,296,009

Banks

—

2.3%

JPMorgan

Chase

&

Co.

50,540

9,403,472

Beverages

—

0.7%

Coca-Cola

Co.

(The)

50,540

3,033,411

Biotechnology

—

3.3%

Amgen,

Inc.

50,540

13,839,368

Broadline

Retail

—

2.2%

Amazon.com,

Inc.*

50,540

8,933,451

Capital

Markets

—

4.8%

Goldman

Sachs

Group,

Inc.

(The)

50,540

19,662,587

Chemicals

—

0.7%

Dow,

Inc.

50,540

2,824,175

Communications

Equipment

—

0.6%

Cisco

Systems,

Inc.

50,540

2,444,620

Consumer

Finance

—

2.7%

American

Express

Co.

50,540

11,089,487

Consumer

Staples

Distribution

&

Retail

—

0.7%

Walmart,

Inc.

50,541

2,962,208

Diversified

Telecommunication

Services

—

0.5%

Verizon

Communications,

Inc.

50,540

2,022,611

Entertainment

—

1.4%

Walt

Disney

Co.

(The)

50,540

5,639,253

Financial

Services

—

3.5%

Visa,

Inc.,

Class

a

A

50,540

14,284,626

Health

Care

Providers

&

Services

—

6.0%

UnitedHealth

Group,

Inc.

50,540

24,946,544

Hotels,

Restaurants

&

Leisure

—

3.6%

McDonald's

Corp.

50,540

14,771,831

Household

Products

—

1.9%

Procter

&

Gamble

Co.

(The)

50,540

8,032,828

Investments

Shares

Value

Common

Stocks

(continued)

Industrial

Conglomerates

—

3.6%

3M

Co.

50,540

$

4,655,745

Honeywell

International,

Inc.

50,540

10,043,814

14,699,559

Insurance

—

2.7%

Travelers

Cos.,

Inc.

(The)

50,540

11,167,318

IT

Services

—

2.3%

International

Business

Machines

Corp.

50,540

9,351,416

Machinery

—

4.1%

Caterpillar,

Inc.

50,540

16,878,338

Oil,

Gas

&

Consumable

Fuels

—

1.9%

Chevron

Corp.

50,540

7,682,585

Pharmaceuticals

—

3.5%

Johnson

&

Johnson

50,540

8,156,145

Merck

&

Co.,

Inc.

50,540

6,426,161

14,582,306

Semiconductors

&

Semiconductor

Equipment

—

0.5%

Intel

Corp.

50,540

2,175,747

Software

—

8.8%

Microsoft

Corp.

50,540

20,905,366

Salesforce,

Inc.*

50,540

15,607,763

36,513,129

Specialty

Retail

—

4.7%

Home

Depot,

Inc.

(The)

50,540

19,236,029

Technology

Hardware,

Storage

&

Peripherals

—

2.2%

Apple,

Inc.

50,540

9,135,105

Textiles,

Apparel

&

Luxury

Goods

—

1.3%

NIKE,

Inc.,

Class

a

B

50,540

5,252,622

Total

Common

Stocks

(Cost

$297,560,961)

300,860,635

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

DOW30

~

SM

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

25

DDM

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

6

.8

%

Repurchase

Agreements

(a)

—

6

.8

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$28,224,899

(Cost

$28,220,746)

$

28,220,746

$

28,220,746

Total

Investments

—

79.8%

(Cost

$325,781,707)

329,081,381

Other

assets

less

liabilities

—

20.2%

83,363,659

Net

Assets

—

100.0%

$

412,445,040

*

Non-income

producing

security.

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Futures

Contracts

Purchased

Ultra

Dow30

SM

had

the

following

open

long

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

AAAAAA

Expiration

Date

AAAAAA

Trading

Currency

AA

Notional

Amount

AAAAAA

Value

and

Unrealized

Appreciation

AAAAAA

DJIA

CBOT

E-Mini

Index

99

3/15/2024

U.S.

Dollar

$

19,326,285

$

1,040,929

Swap

Agreements

Ultra

Dow30

SM

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

($)

40,322,267

3/6/2025

Bank

of

America

NA

5.98%

Dow

Jones

Industrial

Average

SM

3,300,308

74,522,101

11/6/2025

Barclays

Capital

5.93%

Dow

Jones

Industrial

Average

SM

6,324,796

62,862,181

2/11/2025

BNP

Paribas

SA

5.93%

Dow

Jones

Industrial

Average

SM

12,337,798

112,309,603

3/6/2024

Citibank

NA

5.93%

Dow

Jones

Industrial

Average

SM

9,547,282

120,220,983

11/6/2025

Morgan

Stanley

&

Co.

International

plc

5.88%

SPDR

®

Dow

Jones

Industrial

Average

SM

ETF

Trust

13,975,426

55,998,816

11/14/2024

Societe

Generale

5.93%

Dow

Jones

Industrial

Average

SM

4,977,473

38,450,441

1/26/2026

UBS

AG

5.48%

Dow

Jones

Industrial

Average

SM

248,487

504,686,392

50,711,570

Total

Unrealized

Appreciation

50,711,570

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRA

ENERGY

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

26

DIG

::

Investments

Shares

Value

Common

Stocks

—

72

.2

%

Energy

Equipment

&

Services

—

6.0%

Baker

Hughes

Co.,

Class

a

A

49,479

$

1,464,084

Halliburton

Co.

44,022

1,543,851

Schlumberger

NV

65,274

3,154,692

6,162,627

Oil,

Gas

&

Consumable

Fuels

—

66.2%

APA

Corp.

15,081

449,263

Chevron

Corp.

85,682

13,024,521

ConocoPhillips

57,904

6,516,516

Coterra

Energy,

Inc.

36,987

953,525

Devon

Energy

Corp.

31,504

1,388,066

Diamondback

Energy,

Inc.

8,803

1,606,724

EOG

Resources,

Inc.

28,457

3,257,188

EQT

Corp.

20,218

751,099

Exxon

Mobil

Corp.

163,568

17,096,127

Hess

Corp.

13,594

1,981,325

Kinder

Morgan,

Inc.

95,084

1,653,511

Marathon

Oil

Corp.

28,775

697,794

Marathon

Petroleum

Corp.

18,674

3,160,201

Occidental

Petroleum

Corp.

32,469

1,967,946

ONEOK,

Inc.

28,647

2,151,963

Phillips

66

21,635

3,083,204

Pioneer

Natural

Resources

Co.

11,473

2,698,335

Targa

Resources

Corp.

10,963

1,077,005

Valero

Energy

Corp.

16,742

2,368,323

Investments

Shares

Value

Common

Stocks

(continued)

Williams

Cos.,

Inc.

(The)

59,817

$

2,149,823

68,032,459

Total

Common

Stocks

(Cost

$71,347,167)

74,195,086

Principal

Amount

Short-Term

Investments

—

9

.5

%

Repurchase

Agreements

(a)

—

9

.5

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$9,715,905

(Cost

$9,714,476)

$

9,714,476

9,714,476

Total

Investments

—

81.7%

(Cost

$81,061,643)

83,909,562

Other

assets

less

liabilities

—

18.3%

18,838,859

Net

Assets

—

100.0%

$

102,748,421

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

Ultra

Energy

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

/

(Depreciation)

($)

44,683,261

5/6/2025

Bank

of

America

NA

5.63%

S&P

Energy

Select

Sector

Index

c

(

6,722,381

)

39,236,695

3/6/2025

BNP

Paribas

SA

6.03%

S&P

Energy

Select

Sector

Index

c

(

1,270,437

)

2,912,756

4/7/2025

Citibank

NA

5.73%

S&P

Energy

Select

Sector

Index

c

(

48,427

)

11,662,725

3/6/2025

Goldman

Sachs

International

5.93%

S&P

Energy

Select

Sector

Index

c

463,818

6,142,351

5/6/2025

Societe

Generale

6.08%

S&P

Energy

Select

Sector

Index

c

(

156,073

)

26,702,663

5/6/2025

UBS

AG

5.63%

S&P

Energy

Select

Sector

Index

c

(

2,051,081

)

131,340,451

(

9,784,581

)

Total

Unrealized

Appreciation

463,818

Total

Unrealized

Depreciation

(

10,248,399

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

c

See

the

Common

Stocks

section

of

the

preceding

Schedule

of

Portfolio

Investments

for

the

representative

components

of

the

underlying

reference

instrument

and

their

relative

weightings.

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

FINANCIALS

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

27

UYG

::

Investments

Shares

Value

Common

Stocks

(a)

—

66.5%

Banks

—

16.5%

Bank

of

America

Corp.

601,133

$

20,751,111

Citigroup,

Inc.

167,105

9,272,656

Citizens

Financial

Group,

Inc.

40,712

1,277,950

Comerica,

Inc.

11,514

568,561

Fifth

Third

Bancorp

59,462

2,041,925

Huntington

Bancshares,

Inc.

126,438

1,648,752

JPMorgan

Chase

&

Co.

252,415

46,964,335

KeyCorp

81,751

1,166,587

M&T

Bank

Corp.

14,488

2,024,553

PNC

Financial

Services

Group,

Inc.

(The)

34,783

5,120,058

Regions

Financial

Corp.

81,207

1,512,886

Truist

Financial

Corp.

116,448

4,073,351

US

Bancorp

135,947

5,704,336

Wells

Fargo

&

Co.

317,079

17,626,422

Zions

Bancorp

NA

12,939

510,185

120,263,668

Capital

Markets

—

14.3%

Ameriprise

Financial,

Inc.

8,837

3,599,840

Bank

of

New

York

Mellon

Corp.

(The)

67,151

3,766,500

BlackRock,

Inc.

12,209

9,905,650

Blackstone,

Inc.

62,040

7,929,953

Cboe

Global

Markets,

Inc.

9,215

1,769,280

Charles

Schwab

Corp.

(The)

129,938

8,677,260

CME

Group,

Inc.

31,430

6,925,600

FactSet

Research

Systems,

Inc.

3,318

1,534,840

Franklin

Resources,

Inc.

24,618

675,764

Goldman

Sachs

Group,

Inc.

(The)

28,473

11,077,421

Intercontinental

Exchange,

Inc.

49,974

6,917,401

Invesco

Ltd.

39,255

604,920

MarketAxess

Holdings,

Inc.

3,311

706,600

Moody's

Corp.

13,742

5,213,990

Morgan

Stanley

110,346

9,494,170

MSCI,

Inc.,

Class

a

A

6,906

3,874,059

Nasdaq,

Inc.

29,721

1,670,320

Northern

Trust

Corp.

18,079

1,484,828

Raymond

James

Financial,

Inc.

16,409

1,974,331

S&P

Global,

Inc.

28,287

12,117,585

State

Street

Corp.

26,943

1,986,507

T.

Rowe

Price

Group,

Inc.

19,512

2,211,685

104,118,504

Consumer

Finance

—

2.7%

American

Express

Co.

50,267

11,029,585

Capital

One

Financial

Corp.

33,250

4,575,533

Discover

Financial

Services

21,835

2,635,484

Synchrony

Financial

36,130

1,492,169

19,732,771

Financial

Services

—

22.1%

Berkshire

Hathaway,

Inc.,

Class

a

B*

158,857

65,036,056

Fidelity

National

Information

Services,

Inc.

51,731

3,579,268

Fiserv,

Inc.*

52,401

7,821,897

Investments

Shares

Value

Common

Stocks

(a)

(continued)

FleetCor

Technologies,

Inc.*

6,305

$

1,760,797

Global

Payments,

Inc.

22,732

2,948,340

Jack

Henry

&

Associates,

Inc.

6,362

1,105,525

Mastercard,

Inc.,

Class

a

A

72,304

34,327,047

PayPal

Holdings,

Inc.*

94,135

5,680,106

Visa,

Inc.,

Class

a

A

139,173

39,335,857

161,594,893

Insurance

—

10.9%

Aflac,

Inc.

46,431

3,748,839

Allstate

Corp.

(The)

22,848

3,644,713

American

International

Group,

Inc.

61,293

4,467,647

Aon

plc,

Class

a

A

17,482

5,524,137

Arch

Capital

Group

Ltd.*

32,584

2,854,033

Arthur

J

Gallagher

&

Co.

18,851

4,598,324

Assurant,

Inc.

4,592

833,218

Brown

&

Brown,

Inc.

20,624

1,736,747

Chubb

Ltd.

35,622

8,964,989

Cincinnati

Financial

Corp.

13,699

1,561,686

Everest

Group

Ltd.

3,789

1,397,686

Globe

Life,

Inc.

7,480

949,436

Hartford

Financial

Services

Group,

Inc.

(The)

26,259

2,516,663

Loews

Corp.

15,981

1,200,653

Marsh

&

McLennan

Cos.,

Inc.

43,051

8,707,926

MetLife,

Inc.

54,287

3,785,975

Principal

Financial

Group,

Inc.

19,151

1,548,550

Progressive

Corp.

(The)

51,081

9,682,914

Prudential

Financial,

Inc.

31,520

3,435,365

Travelers

Cos.,

Inc.

(The)

19,939

4,405,722

W

R

Berkley

Corp.

17,787

1,486,993

Willis

Towers

Watson

plc

9,013

2,457,034

79,509,250

Total

Common

Stocks

(Cost

$421,129,262)

485,219,086

Principal

Amount

Short-Term

Investments

—

1.3%

Repurchase

Agreements

(b)

—

1.3%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$9,434,303

(Cost

$9,432,917)

$

9,432,917

9,432,917

Total

Investments

—

67.8%

(Cost

$430,562,179)

494,652,003

Other

assets

less

liabilities

—

32.2%

235,254,880

Net

Assets

—

100.0%

$

729,906,883

*

Non-income

producing

security.

(a)

All

or

a

portion

of

these

securities

are

segregated

in

connection

with

obligations

for

swaps

with

a

total

value

of

$3,285.

ULTRA

FINANCIALS

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

28

UYG

::

(b)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

Ultra

Financials

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

($)

62,196,991

3/6/2025

Bank

of

America

NA

6.08%

S&P

Financial

Select

Sector

Index

c

23,569,455

327,366,124

3/6/2025

BNP

Paribas

SA

6.03%

S&P

Financial

Select

Sector

Index

c

59,772,415

28,277,906

4/7/2025

Citibank

NA

5.88%

S&P

Financial

Select

Sector

Index

c

3,972,378

297,383,646

3/6/2025

Goldman

Sachs

International

5.93%

S&P

Financial

Select

Sector

Index

c

39,996,597

108,362,467

3/6/2025

Societe

Generale

6.28%

S&P

Financial

Select

Sector

Index

c

21,497,503

152,162,305

3/6/2025

UBS

AG

5.98%

S&P

Financial

Select

Sector

Index

c

16,949,864

975,749,439

165,758,212

Total

Unrealized

Appreciation

165,758,212

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

c

See

the

Common

Stocks

section

of

the

preceding

Schedule

of

Portfolio

Investments

for

the

representative

components

of

the

underlying

reference

instrument

and

their

relative

weightings.

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

FTSE

CHINA

50

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

29

XPP

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

58

.2

%

Repurchase

Agreements

(a)

—

58

.2

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$5,243,155

(Cost

$5,242,384)

$

5,242,384

$

5,242,384

Total

Investments

—

58.2%

(Cost

$5,242,384)

5,242,384

Other

assets

less

liabilities

—

41.8%

3,771,703

Net

Assets

—

100.0%

$

9,014,087

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

a

Ultra

FTSE

China

50

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

b

Counterparty

Rate

Paid

(Received)

c

Reference

Instrument

Value

and

Unrealized

Appreciation

/

(Depreciation)

($)

1,245,619

4/10/2025

Bank

of

America

NA

5.53%

iShares

®

China

Large-Cap

ETF

222,903

4,392,908

11/14/2024

Citibank

NA

4.58%

iShares

®

China

Large-Cap

ETF

(

875,848

)

3,569,462

3/6/2025

Goldman

Sachs

International

5.63%

iShares

®

China

Large-Cap

ETF

(

1,924,982

)

56,407

11/14/2024

Morgan

Stanley

&

Co.

International

plc

5.78%

iShares

®

China

Large-Cap

ETF

(

15,269

)

3,547,854

11/14/2024

Societe

Generale

5.18%

iShares

®

China

Large-Cap

ETF

(

887,006

)

5,226,891

3/6/2025

UBS

AG

4.33%

iShares

®

China

Large-Cap

ETF

(

1,645,192

)

18,039,141

(

5,125,394

)

Total

Unrealized

Appreciation

222,903

Total

Unrealized

Depreciation

(

5,348,297

)

a

In

order

to

facilitate

the

daily

valuation

of

these

swap

transactions

as

of

close

of

business

New

York

time,

one

or

more

financial

products

traded

on

a

U.S.

exchange

are

used

as

the

reference

entity

as

a

surrogate

for

the

respective

underlying

index

for

the

purposes

of

both

daily

valuation

calculation

as

well

as

final

settlement

of

the

swap.

b

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

c

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRA

FTSE

EUROPE

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

30

UPV

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

53

.2

%

Repurchase

Agreements

(a)

—

53

.2

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$2,359,735

(Cost

$2,359,387)

$

2,359,387

$

2,359,387

Total

Investments

—

53.2%

(Cost

$2,359,387)

2,359,387

Other

assets

less

liabilities

—

46.8%

2,073,066

Net

Assets

—

100.0%

$

4,432,453

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

a

Ultra

FTSE

Europe

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

b

Counterparty

Rate

Paid

(Received)

c

Reference

Instrument

Value

and

Unrealized

Appreciation

/

(Depreciation)

($)

570,376

4/10/2025

Bank

of

America

NA

5.63%

Vanguard

®

FTSE

Europe

ETF

Shares

108,527

3,524,070

11/14/2024

Citibank

NA

5.53%

Vanguard

®

FTSE

Europe

ETF

Shares

129,536

1,803,333

3/6/2025

Goldman

Sachs

International

3.38%

Vanguard

®

FTSE

Europe

ETF

Shares

(

20,377

)

24,779

11/14/2024

Morgan

Stanley

&

Co.

International

plc

5.78%

Vanguard

®

FTSE

Europe

ETF

Shares

2,485

1,387,603

11/14/2024

Societe

Generale

5.58%

Vanguard

®

FTSE

Europe

ETF

Shares

169,376

1,544,534

3/6/2025

UBS

AG

3.33%

Vanguard

®

FTSE

Europe

ETF

Shares

109,981

8,854,695

499,528

Total

Unrealized

Appreciation

519,905

Total

Unrealized

Depreciation

(

20,377

)

a

In

order

to

facilitate

the

daily

valuation

of

these

swap

transactions

as

of

close

of

business

New

York

time,

one

or

more

financial

products

traded

on

a

U.S.

exchange

are

used

as

the

reference

entity

as

a

surrogate

for

the

respective

underlying

index

for

the

purposes

of

both

daily

valuation

calculation

as

well

as

final

settlement

of

the

swap.

b

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

c

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

HEALTH

CARE

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

31

RXL

::

Investments

Shares

Value

Common

Stocks

—

72

.1

%

Biotechnology

—

11.2%

AbbVie,

Inc.

22,063

$

3,884,191

Amgen,

Inc.

6,688

1,831,375

Biogen,

Inc.*

1,810

392,752

Gilead

Sciences,

Inc.

15,572

1,122,741

Incyte

Corp.*

2,325

135,687

Moderna,

Inc.*

4,145

382,335

Regeneron

Pharmaceuticals,

Inc.*

1,338

1,292,628

Vertex

Pharmaceuticals,

Inc.*

3,220

1,354,783

10,396,492

Health

Care

Equipment

&

Supplies

—

14.8%

Abbott

Laboratories

21,686

2,572,827

Align

Technology,

Inc.*

890

269,154

Baxter

International,

Inc.

6,341

259,474

Becton

Dickinson

&

Co.

3,626

854,104

Boston

Scientific

Corp.*

18,298

1,211,510

Cooper

Cos.,

Inc.

(The)

2,476

231,754

DENTSPLY

SIRONA,

Inc.

2,648

86,537

Dexcom,

Inc.*

4,830

555,788

Edwards

Lifesciences

Corp.*

7,580

643,315

GE

HealthCare

Technologies,

Inc.

5,064

462,242

Hologic,

Inc.*

3,061

225,902

IDEXX

Laboratories,

Inc.*

1,039

597,664

Insulet

Corp.*

873

143,172

Intuitive

Surgical,

Inc.*

4,399

1,696,254

Medtronic

plc

16,628

1,386,110

ResMed,

Inc.

1,838

319,297

STERIS

plc

1,235

287,644

Stryker

Corp.

4,225

1,474,821

Teleflex,

Inc.

587

130,778

Zimmer

Biomet

Holdings,

Inc.

2,612

324,828

13,733,175

Health

Care

Providers

&

Services

—

15.3%

Cardinal

Health,

Inc.

3,080

344,898

Cencora,

Inc.

2,083

490,755

Centene

Corp.*

6,676

523,599

Cigna

Group

(The)

3,656

1,228,928

CVS

Health

Corp.

16,051

1,193,713

DaVita,

Inc.*

673

85,451

Elevance

Health,

Inc.

2,936

1,471,670

HCA

Healthcare,

Inc.

2,476

771,769

Henry

Schein,

Inc.*

1,632

124,799

Humana,

Inc.

1,538

538,792

Laboratory

Corp.

of

America

Holdings

1,061

228,996

McKesson

Corp.

1,663

867,105

Molina

Healthcare,

Inc.*

728

286,766

Quest

Diagnostics,

Inc.

1,405

175,470

UnitedHealth

Group,

Inc.

11,558

5,705,029

Universal

Health

Services,

Inc.,

Class

a

B

763

127,467

14,165,207

Life

Sciences

Tools

&

Services

—

8.2%

Agilent

Technologies,

Inc.

3,656

502,188

Investments

Shares

Value

Common

Stocks

(continued)

Bio-Rad

Laboratories,

Inc.,

Class

a

A*

261

$

85,055

Bio-Techne

Corp.

1,976

145,374

Charles

River

Laboratories

International,

Inc.*

641

162,936

Danaher

Corp.

8,218

2,080,304

Illumina,

Inc.*

1,985

277,563

IQVIA

Holdings,

Inc.*

2,288

565,502

Mettler-Toledo

International,

Inc.*

271

337,997

Revvity,

Inc.

1,543

169,097

Thermo

Fisher

Scientific,

Inc.

4,828

2,752,829

Waters

Corp.*

739

249,353

West

Pharmaceutical

Services,

Inc.

924

331,125

7,659,323

Pharmaceuticals

—

22.6%

Bristol-Myers

Squibb

Co.

25,428

1,290,471

Catalent,

Inc.*

2,254

129,244

Eli

Lilly

&

Co.

9,964

7,509,667

Johnson

&

Johnson

30,083

4,854,795

Merck

&

Co.,

Inc.

31,661

4,025,696

Pfizer,

Inc.

70,561

1,874,100

Viatris,

Inc.

14,994

185,476

Zoetis,

Inc.,

Class

a

A

5,738

1,138,018

21,007,467

Total

Common

Stocks

(Cost

$63,367,366)

66,961,664

Principal

Amount

Short-Term

Investments

—

10

.7

%

Repurchase

Agreements

(a)

—

10

.7

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$9,905,492

(Cost

$9,904,036)

$

9,904,036

9,904,036

Total

Investments

—

82.8%

(Cost

$73,271,402)

76,865,700

Other

assets

less

liabilities

—

17.2%

15,943,069

Net

Assets

—

100.0%

$

92,808,769

*

Non-income

producing

security.

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

ULTRA

HEALTH

CARE

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

32

RXL

::

Swap

Agreements

Ultra

Health

Care

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

($)

12,114,824

3/6/2025

Bank

of

America

NA

5.78%

S&P

Health

Care

Select

Sector

Index

c

1,740,558

28,297,656

3/6/2025

BNP

Paribas

SA

6.03%

S&P

Health

Care

Select

Sector

Index

c

1,348,338

1,120,091

4/7/2025

Citibank

NA

5.73%

S&P

Health

Care

Select

Sector

Index

c

80,353

6,080,077

3/6/2025

Goldman

Sachs

International

5.93%

S&P

Health

Care

Select

Sector

Index

c

411,438

9,624,595

3/6/2025

Societe

Generale

6.18%

S&P

Health

Care

Select

Sector

Index

c

1,655,042

61,866,759

3/6/2025

UBS

AG

5.68%

S&P

Health

Care

Select

Sector

Index

c

4,930,155

119,104,002

10,165,884

Total

Unrealized

Appreciation

10,165,884

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

c

See

the

Common

Stocks

section

of

the

preceding

Schedule

of

Portfolio

Investments

for

the

representative

components

of

the

underlying

reference

instrument

and

their

relative

weightings.

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

HIGH

YIELD

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

33

UJB

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

56

.1

%

Repurchase

Agreements

(a)

—

56

.1

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$8,014,804

(Cost

$8,013,624)

$

8,013,624

$

8,013,624

Total

Investments

—

56.1%

(Cost

$8,013,624)

8,013,624

Other

assets

less

liabilities

—

43.9%

6,279,465

Net

Assets

—

100.0%

$

14,293,089

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

a

Ultra

High

Yield

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

b

Counterparty

Rate

Paid

(Received)

c

Reference

Instrument

Value

and

Unrealized

Appreciation

/

(Depreciation)

($)

4,882,080

3/7/2024

BNP

Paribas

SA

5.33%

iShares

®

iBoxx

$

High

Yield

Corporate

Bond

ETF

(

800,431

)

8,271,792

3/6/2025

Citibank

NA

5.08%

iShares

®

iBoxx

$

High

Yield

Corporate

Bond

ETF

509,813

9,061,059

11/7/2024

Goldman

Sachs

International

3.08%

iShares

®

iBoxx

$

High

Yield

Corporate

Bond

ETF

845,959

6,238,310

3/6/2024

UBS

AG

3.83%

iShares

®

iBoxx

$

High

Yield

Corporate

Bond

ETF

211,697

28,453,241

767,038

Total

Unrealized

Appreciation

1,567,469

Total

Unrealized

Depreciation

(

800,431

)

a

In

order

to

facilitate

the

daily

valuation

of

these

swap

transactions

as

of

close

of

business

New

York

time,

one

or

more

financial

products

traded

on

a

U.S.

exchange

are

used

as

the

reference

entity

as

a

surrogate

for

the

respective

underlying

index

for

the

purposes

of

both

daily

valuation

calculation

as

well

as

final

settlement

of

the

swap.

b

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

c

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRA

INDUSTRIALS

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

34

UXI

::

Investments

Shares

Value

Common

Stocks

—

67

.9

%

Aerospace

&

Defense

—

11.8%

Axon

Enterprise,

Inc.*

266

$

81,760

Boeing

Co.

(The)*

2,151

438,202

General

Dynamics

Corp.

857

234,175

Howmet

Aerospace,

Inc.

1,479

98,427

Huntington

Ingalls

Industries,

Inc.

150

43,743

L3Harris

Technologies,

Inc.

717

151,760

Lockheed

Martin

Corp.

835

357,580

Northrop

Grumman

Corp.

536

247,107

RTX

Corp.

5,438

487,626

Textron,

Inc.

741

66,001

TransDigm

Group,

Inc.

209

246,148

2,452,529

Air

Freight

&

Logistics

—

3.5%

CH

Robinson

Worldwide,

Inc.

441

32,669

Expeditors

International

of

Washington,

Inc.

550

65,780

FedEx

Corp.

875

217,849

United

Parcel

Service,

Inc.,

Class

a

B

2,735

405,491

721,789

Building

Products

—

3.9%

A

O

Smith

Corp.

465

38,549

Allegion

plc

332

42,453

Builders

FirstSource,

Inc.*

467

91,149

Carrier

Global

Corp.

3,173

176,355

Johnson

Controls

International

plc

2,573

152,502

Masco

Corp.

849

65,169

Trane

Technologies

plc

864

243,622

809,799

Commercial

Services

&

Supplies

—

4.5%

Cintas

Corp.

327

205,555

Copart,

Inc.*

3,305

175,661

Republic

Services,

Inc.,

Class

a

A

773

141,923

Rollins,

Inc.

1,062

46,802

Veralto

Corp.

829

71,642

Waste

Management,

Inc.

1,386

285,031

926,614

Construction

&

Engineering

—

0.6%

Quanta

Services,

Inc.

549

132,589

Electrical

Equipment

—

5.0%

AMETEK,

Inc.

873

157,297

Eaton

Corp.

plc

1,510

436,390

Emerson

Electric

Co.

2,156

230,369

Generac

Holdings,

Inc.*

232

26,102

Hubbell,

Inc.,

Class

a

B

203

77,276

Rockwell

Automation,

Inc.

434

123,725

1,051,159

Ground

Transportation

—

9.2%

CSX

Corp.

7,474

283,564

Investments

Shares

Value

Common

Stocks

(continued)

JB

Hunt

Transport

Services,

Inc.

308

$

63,543

Norfolk

Southern

Corp.

855

216,640

Old

Dominion

Freight

Line,

Inc.

338

149,558

Uber

Technologies,

Inc.*

7,783

618,749

Union

Pacific

Corp.

2,305

584,755

1,916,809

Industrial

Conglomerates

—

6.4%

3M

Co.

2,089

192,439

General

Electric

Co.

4,116

645,789

Honeywell

International,

Inc.

2,493

495,434

1,333,662

Machinery

—

13.9%

Caterpillar,

Inc.

1,929

644,209

Cummins,

Inc.

536

143,975

Deere

&

Co.

1,013

369,796

Dover

Corp.

529

87,486

Fortive

Corp.

1,329

113,138

IDEX

Corp.

286

67,467

Illinois

Tool

Works,

Inc.

1,036

271,587

Ingersoll

Rand,

Inc.

1,531

139,826

Nordson

Corp.

205

54,458

Otis

Worldwide

Corp.

1,548

147,524

PACCAR,

Inc.

1,978

219,340

Parker-Hannifin

Corp.

486

260,229

Pentair

plc

625

48,619

Snap-on,

Inc.

200

55,132

Stanley

Black

&

Decker,

Inc.

580

51,788

Westinghouse

Air

Brake

Technologies

Corp.

678

95,795

Xylem,

Inc.

912

115,870

2,886,239

Passenger

Airlines

—

1.3%

American

Airlines

Group,

Inc.*

2,472

38,761

Delta

Air

Lines,

Inc.

2,434

102,885

Southwest

Airlines

Co.

2,254

77,244

United

Airlines

Holdings,

Inc.*

1,240

56,408

275,298

Professional

Services

—

5.4%

Automatic

Data

Processing,

Inc.

1,556

390,758

Broadridge

Financial

Solutions,

Inc.

445

90,593

Dayforce,

Inc.*

590

41,159

Equifax,

Inc.

466

127,493

Jacobs

Solutions,

Inc.

476

69,806

Leidos

Holdings,

Inc.

520

66,487

Paychex,

Inc.

1,216

149,106

Paycom

Software,

Inc.

185

33,742

Robert

Half,

Inc.

400

32,160

Verisk

Analytics,

Inc.,

Class

a

A

548

132,561

1,133,865

Trading

Companies

&

Distributors

—

2.4%

Fastenal

Co.

2,161

157,775

United

Rentals,

Inc.

256

177,477

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

INDUSTRIALS

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

35

UXI

::

Investments

Shares

Value

Common

Stocks

(continued)

WW

Grainger,

Inc.

167

$

162,568

497,820

Total

Common

Stocks

(Cost

$13,139,520)

14,138,172

Principal

Amount

Short-Term

Investments

—

2

.4

%

Repurchase

Agreements

(a)

—

2

.4

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$508,681

(Cost

$508,605)

$

508,605

508,605

Total

Investments

—

70.3%

(Cost

$13,648,125)

14,646,777

Other

assets

less

liabilities

—

29.7%

6,180,684

Net

Assets

—

100.0%

$

20,827,461

*

Non-income

producing

security.

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

Ultra

Industrials

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

($)

4,512,328

3/6/2025

Bank

of

America

NA

5.63%

S&P

Industrials

Select

Sector

Index

c

876,960

10,892,708

3/6/2025

BNP

Paribas

SA

6.03%

S&P

Industrials

Select

Sector

Index

c

1,513,710

2,801,469

3/6/2025

Goldman

Sachs

International

5.93%

S&P

Industrials

Select

Sector

Index

c

370,176

6,865,367

3/6/2025

Societe

Generale

6.08%

S&P

Industrials

Select

Sector

Index

c

554,169

2,498,048

3/6/2025

UBS

AG

5.68%

S&P

Industrials

Select

Sector

Index

c

671,448

27,569,920

3,986,463

Total

Unrealized

Appreciation

3,986,463

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

c

See

the

Common

Stocks

section

of

the

preceding

Schedule

of

Portfolio

Investments

for

the

representative

components

of

the

underlying

reference

instrument

and

their

relative

weightings.

ULTRA

MATERIALS

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

36

UYM

::

Investments

Shares

Value

Common

Stocks

—

73

.1

%

Chemicals

—

49.5%

Air

Products

and

Chemicals,

Inc.

6,914

$

1,618,153

Albemarle

Corp.

3,683

507,702

Celanese

Corp.,

Class

a

A

3,143

477,642

CF

Industries

Holdings,

Inc.

5,996

483,997

Corteva,

Inc.

22,114

1,183,541

Dow,

Inc.

22,011

1,229,975

DuPont

de

Nemours,

Inc.

13,496

933,788

Eastman

Chemical

Co.

3,721

326,480

Ecolab,

Inc.

7,898

1,775,786

FMC

Corp.

3,915

220,767

International

Flavors

&

Fragrances,

Inc.

8,012

604,906

Linde

plc

15,091

6,773,143

LyondellBasell

Industries

NV,

Class

a

A

8,041

806,351

Mosaic

Co.

(The)

10,257

319,608

PPG

Industries,

Inc.

7,400

1,047,840

Sherwin-Williams

Co.

(The)

7,330

2,433,780

20,743,459

Construction

Materials

—

5.3%

Martin

Marietta

Materials,

Inc.

1,939

1,120,180

Vulcan

Materials

Co.

4,170

1,108,594

2,228,774

Containers

&

Packaging

—

6.8%

Amcor

plc

45,360

410,962

Avery

Dennison

Corp.

2,526

546,955

Ball

Corp.

9,894

633,414

International

Paper

Co.

10,860

384,009

Investments

Shares

Value

Common

Stocks

(continued)

Packaging

Corp.

of

America

2,813

$

509,687

Westrock

Co.

8,047

364,449

2,849,476

Metals

&

Mining

—

11.5%

Freeport-McMoRan,

Inc.

44,629

1,687,422

Newmont

Corp.

32,896

1,028,000

Nucor

Corp.

7,716

1,483,787

Steel

Dynamics,

Inc.

4,774

638,857

4,838,066

Total

Common

Stocks

(Cost

$29,857,734)

30,659,775

Principal

Amount

Short-Term

Investments

—

6

.5

%

Repurchase

Agreements

(a)

—

6

.5

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$2,708,542

(Cost

$2,708,146)

$

2,708,146

2,708,146

Total

Investments

—

79.6%

(Cost

$32,565,880)

33,367,921

Other

assets

less

liabilities

—

20.4%

8,559,889

Net

Assets

—

100.0%

$

41,927,810

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

Ultra

Materials

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

($)

12,333,670

3/6/2025

Bank

of

America

NA

5.68%

S&P

Materials

Select

Sector

Index

c

1,263,062

18,415,034

3/6/2025

BNP

Paribas

SA

6.03%

S&P

Materials

Select

Sector

Index

c

893,308

6,234,653

3/6/2025

Goldman

Sachs

International

5.93%

S&P

Materials

Select

Sector

Index

c

299,256

9,973,030

3/6/2025

Societe

Generale

6.08%

S&P

Materials

Select

Sector

Index

c

1,294,455

6,321,052

3/6/2025

UBS

AG

5.68%

S&P

Materials

Select

Sector

Index

c

941,262

53,277,439

4,691,343

Total

Unrealized

Appreciation

4,691,343

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

c

See

the

Common

Stocks

section

of

the

preceding

Schedule

of

Portfolio

Investments

for

the

representative

components

of

the

underlying

reference

instrument

and

their

relative

weightings.

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

MIDCAP400

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

37

MVV

::

Investments

Shares

Value

Common

Stocks

—

74

.4

%

Aerospace

&

Defense

—

0.9%

BWX

Technologies,

Inc.

3,617

$

364,702

Curtiss-Wright

Corp.

1,512

357,240

Hexcel

Corp.

3,327

247,728

Woodward,

Inc.

2,389

338,020

1,307,690

Air

Freight

&

Logistics

—

0.2%

GXO

Logistics,

Inc.*

4,705

243,531

Automobile

Components

—

1.0%

Adient

plc*

3,704

125,714

Autoliv,

Inc.

2,962

343,681

Fox

Factory

Holding

Corp.*

1,676

84,789

Gentex

Corp.

9,225

336,989

Goodyear

Tire

&

Rubber

Co.

(The)*

11,214

133,222

Lear

Corp.(a)

2,304

316,454

Visteon

Corp.*

1,100

124,432

1,465,281

Automobiles

—

0.3%

Harley-Davidson,

Inc.

5,012

181,785

Thor

Industries,

Inc.

2,107

270,075

451,860

Banks

—

3.7%

Associated

Banc-Corp.

5,878

122,497

Bank

OZK

4,161

182,252

Cadence

Bank

7,224

199,960

Columbia

Banking

System,

Inc.

8,249

149,307

Commerce

Bancshares,

Inc.

4,697

244,432

Cullen/Frost

Bankers,

Inc.

2,533

274,856

East

West

Bancorp,

Inc.

5,574

406,122

First

Financial

Bankshares,

Inc.

5,080

157,175

First

Horizon

Corp.

22,099

311,596

FNB

Corp.

14,191

189,308

Glacier

Bancorp,

Inc.

4,385

164,087

Hancock

Whitney

Corp.

3,407

148,545

Home

BancShares,

Inc.

7,421

174,097

International

Bancshares

Corp.

2,111

109,540

New

York

Community

Bancorp,

Inc.

28,574

136,869

Old

National

Bancorp

11,573

190,144

Pinnacle

Financial

Partners,

Inc.

3,036

251,138

Prosperity

Bancshares,

Inc.

3,706

231,291

SouthState

Corp.

3,008

252,792

Synovus

Financial

Corp.

5,784

219,445

Texas

Capital

Bancshares,

Inc.*

1,899

111,376

UMB

Financial

Corp.

1,727

140,940

United

Bankshares,

Inc.

5,336

185,106

Valley

National

Bancorp

16,866

138,133

Webster

Financial

Corp.

6,804

324,143

Wintrust

Financial

Corp.

2,422

233,360

5,248,511

Investments

Shares

Value

Common

Stocks

(continued)

Beverages

—

0.5%

Boston

Beer

Co.,

Inc.

(The),

Class

a

A*

372

$

114,628

Celsius

Holdings,

Inc.*

5,867

478,865

Coca-Cola

Consolidated,

Inc.

185

155,548

749,041

Biotechnology

—

1.1%

Arrowhead

Pharmaceuticals,

Inc.*

4,864

156,134

Exelixis,

Inc.*

12,299

269,348

Halozyme

Therapeutics,

Inc.*

5,224

207,968

Neurocrine

Biosciences,

Inc.*

3,886

506,734

United

Therapeutics

Corp.*

1,856

418,788

1,558,972

Broadline

Retail

—

0.3%

Macy's,

Inc.

10,822

188,735

Nordstrom,

Inc.(a)

3,837

80,462

Ollie's

Bargain

Outlet

Holdings,

Inc.*

2,440

195,615

464,812

Building

Products

—

2.6%

Advanced

Drainage

Systems,

Inc.(a)

2,711

442,544

Carlisle

Cos.,

Inc.

1,925

673,750

Fortune

Brands

Innovations,

Inc.

4,987

405,642

Lennox

International,

Inc.

1,265

596,081

Owens

Corning

3,515

526,477

Simpson

Manufacturing

Co.,

Inc.

1,688

352,252

Trex

Co.,

Inc.*

4,295

394,109

UFP

Industries,

Inc.

2,445

280,270

3,671,125

Capital

Markets

—

2.2%

Affiliated

Managers

Group,

Inc.

1,337

208,986

Carlyle

Group,

Inc.

(The)

8,563

392,613

Evercore,

Inc.,

Class

a

A

1,371

256,487

Federated

Hermes,

Inc.,

Class

a

B

3,411

120,169

Houlihan

Lokey,

Inc.,

Class

a

A

2,041

262,595

Interactive

Brokers

Group,

Inc.,

Class

a

A

4,232

460,103

Janus

Henderson

Group

plc

5,241

163,310

Jefferies

Financial

Group,

Inc.

6,658

278,438

Morningstar,

Inc.

1,030

307,548

SEI

Investments

Co.

3,955

265,974

Stifel

Financial

Corp.

4,034

306,019

3,022,242

Chemicals

—

1.7%

Arcadium

Lithium

plc*

40,627

223,042

Ashland,

Inc.

2,027

189,808

Avient

Corp.

3,605

145,930

Axalta

Coating

Systems

Ltd.*

8,704

284,882

Cabot

Corp.

2,185

185,616

Chemours

Co.

(The)

5,871

115,483

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Shares

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Common

Stocks

(continued)

NewMarket

Corp.

273

$

175,176

Olin

Corp.

4,847

260,769

RPM

International,

Inc.

5,095

587,708

Scotts

Miracle-Gro

Co.

(The)

1,643

107,945

Westlake

Corp.

1,267

175,746

2,452,105

Commercial

Services

&

Supplies

—

1.0%

Brink's

Co.

(The)

1,782

147,603

Clean

Harbors,

Inc.*

1,992

362,743

MSA

Safety,

Inc.

1,461

269,043

Stericycle,

Inc.*

3,659

199,013

Tetra

Tech,

Inc.

2,106

373,436

1,351,838

Communications

Equipment

—

0.4%

Calix,

Inc.*

2,318

80,829

Ciena

Corp.*

5,847

333,162

Lumentum

Holdings,

Inc.*

2,650

128,445

542,436

Construction

&

Engineering

—

1.6%

AECOM

5,487

487,410

Comfort

Systems

USA,

Inc.

1,412

431,691

EMCOR

Group,

Inc.

1,861

583,461

Fluor

Corp.*

6,738

247,958

MasTec,

Inc.*

2,391

180,425

MDU

Resources

Group,

Inc.

8,054

174,611

Valmont

Industries,

Inc.(a)

826

175,054

2,280,610

Construction

Materials

—

0.4%

Eagle

Materials,

Inc.

1,380

349,899

Knife

River

Corp.*

2,237

165,739

515,638

Consumer

Finance

—

0.5%

Ally

Financial,

Inc.

10,736

397,125

FirstCash

Holdings,

Inc.

1,463

167,513

SLM

Corp.

8,949

186,408

751,046

Consumer

Staples

Distribution

&

Retail

—

1.5%

BJ's

Wholesale

Club

Holdings,

Inc.*

5,289

386,309

Casey's

General

Stores,

Inc.

1,474

448,818

Grocery

Outlet

Holding

Corp.*

3,926

101,251

Performance

Food

Group

Co.*

6,154

472,443

Sprouts

Farmers

Market,

Inc.*

4,017

250,821

US

Foods

Holding

Corp.*

8,945

454,317

2,113,959

Containers

&

Packaging

—

1.2%

AptarGroup,

Inc.

2,602

365,477

Berry

Global

Group,

Inc.

4,670

271,841

Crown

Holdings,

Inc.

4,771

365,554

Graphic

Packaging

Holding

Co.

12,104

314,099

Greif,

Inc.,

Class

a

A

1,007

64,911

Silgan

Holdings,

Inc.

3,201

140,556

Investments

Shares

Value

Common

Stocks

(continued)

Sonoco

Products

Co.

3,874

$

219,578

1,742,016

Diversified

Consumer

Services

—

0.7%

Graham

Holdings

Co.,

Class

a

B

142

99,731

Grand

Canyon

Education,

Inc.*

1,169

157,581

H&R

Block,

Inc.

5,692

278,624

Service

Corp.

International

5,843

427,649

963,585

Diversified

REITs

—

0.4%

WP

Carey,

Inc.,

REIT

8,648

487,142

Diversified

Telecommunication

Services

—

0.3%

Frontier

Communications

Parent,

Inc.*

8,748

207,153

Iridium

Communications,

Inc.

4,898

141,797

348,950

Electric

Utilities

—

0.6%

ALLETE,

Inc.

2,273

128,743

IDACORP,

Inc.

2,002

176,396

OGE

Energy

Corp.

7,921

260,680

PNM

Resources,

Inc.

3,395

123,951

Portland

General

Electric

Co.

3,999

160,640

850,410

Electrical

Equipment

—

1.2%

Acuity

Brands,

Inc.

1,224

307,518

EnerSys

1,598

146,824

nVent

Electric

plc

6,562

441,754

Regal

Rexnord

Corp.

2,624

449,990

Sensata

Technologies

Holding

plc

5,986

206,038

Sunrun,

Inc.*

8,593

103,459

1,655,583

Electronic

Equipment,

Instruments

&

Components

—

1.7%

Arrow

Electronics,

Inc.*

2,142

251,685

Avnet,

Inc.

3,579

166,746

Belden,

Inc.

1,648

140,377

Cognex

Corp.

6,808

268,575

Coherent

Corp.*

5,212

310,010

Crane

NXT

Co.

1,909

111,524

IPG

Photonics

Corp.*

1,169

100,943

Littelfuse,

Inc.

984

234,428

Novanta,

Inc.*

1,416

244,883

TD

SYNNEX

Corp.

2,278

236,684

Vishay

Intertechnology,

Inc.

4,993

108,598

Vontier

Corp.

6,104

262,472

2,436,925

Energy

Equipment

&

Services

—

0.7%

ChampionX

Corp.

7,704

239,286

NOV,

Inc.

15,579

263,285

Valaris

Ltd.*

2,479

156,301

Weatherford

International

plc*

2,852

292,644

951,516

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Investments

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Common

Stocks

(continued)

Entertainment

—

0.1%

TKO

Group

Holdings,

Inc.,

Class

a

A

2,373

$

198,691

Financial

Services

—

1.4%

Equitable

Holdings,

Inc.

12,584

430,876

Essent

Group

Ltd.

4,222

226,173

Euronet

Worldwide,

Inc.*

1,733

189,659

MGIC

Investment

Corp.

10,967

218,134

Voya

Financial,

Inc.

4,132

282,463

Western

Union

Co.

(The)

14,410

193,238

WEX,

Inc.*

1,690

371,344

1,911,887

Food

Products

—

0.8%

Darling

Ingredients,

Inc.*

6,309

266,934

Flowers

Foods,

Inc.

7,598

170,347

Ingredion,

Inc.

2,578

303,250

Lancaster

Colony

Corp.

805

166,571

Pilgrim's

Pride

Corp.*

1,592

50,689

Post

Holdings,

Inc.*

2,010

209,362

1,167,153

Gas

Utilities

—

0.7%

National

Fuel

Gas

Co.

3,631

176,975

New

Jersey

Resources

Corp.

3,858

160,531

ONE

Gas,

Inc.

2,193

130,703

Southwest

Gas

Holdings,

Inc.

2,376

161,924

Spire,

Inc.

2,080

123,386

UGI

Corp.

8,285

202,817

956,336

Ground

Transportation

—

1.6%

Avis

Budget

Group,

Inc.

731

78,977

Hertz

Global

Holdings,

Inc.*

5,235

41,095

Knight-Swift

Transportation

Holdings,

Inc.,

Class

a

A

6,379

359,393

Landstar

System,

Inc.

1,422

270,465

Ryder

System,

Inc.

1,753

200,017

Saia,

Inc.*

1,050

604,170

Werner

Enterprises,

Inc.

2,507

100,631

XPO,

Inc.*

4,588

552,028

2,206,776

Health

Care

Equipment

&

Supplies

—

1.7%

Enovis

Corp.*

1,965

117,528

Envista

Holdings

Corp.*

6,779

139,986

Globus

Medical,

Inc.,

Class

a

A*

4,562

246,302

Haemonetics

Corp.*

2,007

146,471

Inari

Medical,

Inc.*

2,024

93,347

Integra

LifeSciences

Holdings

Corp.*

2,690

99,288

Lantheus

Holdings,

Inc.*

2,709

177,115

LivaNova

plc*

2,131

116,800

Masimo

Corp.*

1,755

225,588

Neogen

Corp.*

7,785

133,824

Penumbra,

Inc.*

1,526

358,488

QuidelOrtho

Corp.*

1,956

89,194

Investments

Shares

Value

Common

Stocks

(continued)

Shockwave

Medical,

Inc.*

1,459

$

380,609

2,324,540

Health

Care

Providers

&

Services

—

1.6%

Acadia

Healthcare

Co.,

Inc.*

3,647

304,342

Amedisys,

Inc.*

1,291

120,089

Chemed

Corp.

596

373,174

Encompass

Health

Corp.

3,964

294,922

HealthEquity,

Inc.*

3,387

279,800

Option

Care

Health,

Inc.*

7,005

226,051

Progyny,

Inc.*

3,297

120,406

R1

RCM,

Inc.*

7,788

109,421

Tenet

Healthcare

Corp.*

4,016

373,488

2,201,693

Health

Care

REITs

—

0.5%

Healthcare

Realty

Trust,

Inc.,

Class

a

A,

REIT

15,063

207,568

Medical

Properties

Trust,

Inc.,

REIT(a)

23,690

99,735

Omega

Healthcare

Investors,

Inc.,

REIT

9,689

301,522

Sabra

Health

Care

REIT,

Inc.,

REIT

9,145

126,932

735,757

Health

Care

Technology

—

0.1%

Doximity,

Inc.,

Class

a

A*

4,673

131,919

Hotel

&

Resort

REITs

—

0.1%

Park

Hotels

&

Resorts,

Inc.,

REIT

8,305

137,863

Hotels,

Restaurants

&

Leisure

—

2.7%

Aramark

10,324

313,127

Boyd

Gaming

Corp.

2,748

181,725

Choice

Hotels

International,

Inc.(a)

985

110,261

Churchill

Downs,

Inc.

2,685

327,221

Hilton

Grand

Vacations,

Inc.*

2,819

126,517

Hyatt

Hotels

Corp.,

Class

a

A

1,749

268,629

Light

&

Wonder,

Inc.*

3,561

357,916

Marriott

Vacations

Worldwide

Corp.

1,306

121,706

Penn

Entertainment,

Inc.*

6,002

109,837

Planet

Fitness,

Inc.,

Class

a

A*

3,379

209,667

Texas

Roadhouse,

Inc.,

Class

a

A

2,641

394,486

Travel

+

Leisure

Co.

2,864

127,992

Vail

Resorts,

Inc.

1,506

346,847

Wendy's

Co.

(The)

6,607

119,653

Wingstop,

Inc.

1,163

408,271

Wyndham

Hotels

&

Resorts,

Inc.

3,281

251,160

3,775,015

Household

Durables

—

1.4%

Helen

of

Troy

Ltd.*

939

117,375

KB

Home

3,028

201,150

Leggett

&

Platt,

Inc.

5,273

107,675

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Common

Stocks

(continued)

Taylor

Morrison

Home

Corp.,

Class

a

A*(a)

4,250

$

240,592

Tempur

Sealy

International,

Inc.

6,816

371,267

Toll

Brothers,

Inc.

4,251

487,335

TopBuild

Corp.*

1,257

505,792

2,031,186

Independent

Power

and

Renewable

Electricity

Producers

—

0.6%

Ormat

Technologies,

Inc.

2,124

138,378

Vistra

Corp.

13,292

724,946

863,324

Industrial

REITs

—

0.9%

EastGroup

Properties,

Inc.,

REIT

1,832

321,864

First

Industrial

Realty

Trust,

Inc.,

REIT

5,231

277,243

Rexford

Industrial

Realty,

Inc.,

REIT

8,349

424,797

STAG

Industrial,

Inc.,

REIT

7,181

266,703

1,290,607

Insurance

—

3.5%

American

Financial

Group,

Inc.

2,584

329,899

Brighthouse

Financial,

Inc.*

2,539

118,190

CNO

Financial

Group,

Inc.

4,436

118,397

Erie

Indemnity

Co.,

Class

a

A

986

401,184

Fidelity

National

Financial,

Inc.

10,225

517,180

First

American

Financial

Corp.

4,081

238,371

Hanover

Insurance

Group,

Inc.

(The)

1,414

185,899

Kemper

Corp.

2,383

136,617

Kinsale

Capital

Group,

Inc.

871

449,593

Old

Republic

International

Corp.

10,312

298,636

Primerica,

Inc.(a)

1,386

339,930

Reinsurance

Group

of

America,

Inc.

2,607

461,048

RenaissanceRe

Holdings

Ltd.

2,076

466,726

RLI

Corp.

1,588

232,563

Selective

Insurance

Group,

Inc.

2,396

250,334

Unum

Group

7,251

358,562

4,903,129

Interactive

Media

&

Services

—

0.2%

Ziff

Davis,

Inc.*

1,819

125,075

ZoomInfo

Technologies,

Inc.,

Class

a

A*

11,716

196,360

321,435

IT

Services

—

0.6%

GoDaddy,

Inc.,

Class

a

A*

5,569

635,701

Kyndryl

Holdings,

Inc.*

9,075

199,378

835,079

Leisure

Products

—

0.6%

Brunswick

Corp.

2,721

237,816

Mattel,

Inc.*

13,970

275,209

Polaris,

Inc.

2,099

194,598

YETI

Holdings,

Inc.*

3,435

140,972

848,595

Investments

Shares

Value

Common

Stocks

(continued)

Life

Sciences

Tools

&

Services

—

0.9%

Azenta,

Inc.*

2,379

$

154,992

Bruker

Corp.

3,668

317,429

Medpace

Holdings,

Inc.*

922

366,513

Repligen

Corp.*

2,054

398,456

Sotera

Health

Co.*

3,912

58,719

1,296,109

Machinery

—

3.6%

AGCO

Corp.

2,458

269,643

Chart

Industries,

Inc.*(a)

1,661

237,290

Crane

Co.

1,932

234,854

Donaldson

Co.,

Inc.

4,773

341,842

Esab

Corp.

2,241

222,128

Flowserve

Corp.

5,189

219,598

Graco,

Inc.

6,675

609,161

ITT,

Inc.

3,247

409,577

Lincoln

Electric

Holdings,

Inc.

2,262

580,429

Middleby

Corp.

(The)*

2,120

322,579

Oshkosh

Corp.

2,587

286,795

RBC

Bearings,

Inc.*

1,150

313,755

Terex

Corp.

2,662

152,666

Timken

Co.

(The)

2,567

215,602

Toro

Co.

(The)

4,107

379,117

Watts

Water

Technologies,

Inc.,

Class

a

A

1,082

220,674

5,015,710

Marine

Transportation

—

0.2%

Kirby

Corp.*

2,337

205,002

Media

—

0.5%

Cable

One,

Inc.

180

82,080

New

York

Times

Co.

(The),

Class

a

A

6,471

286,536

Nexstar

Media

Group,

Inc.,

Class

a

A

1,275

211,867

TEGNA,

Inc.

7,790

109,138

689,621

Metals

&

Mining

—

1.7%

Alcoa

Corp.

7,058

192,048

Cleveland-Cliffs,

Inc.*

19,967

415,314

Commercial

Metals

Co.

4,623

249,642

MP

Materials

Corp.*

5,696

86,636

Reliance,

Inc.

2,273

730,133

Royal

Gold,

Inc.

2,598

266,633

United

States

Steel

Corp.

8,821

417,586

2,357,992

Mortgage

Real

Estate

Investment

Trusts

(REITs)

—

0.4%

Annaly

Capital

Management,

Inc.

19,778

377,562

Starwood

Property

Trust,

Inc.

11,768

239,950

617,512

Multi-Utilities

—

0.2%

Black

Hills

Corp.

2,689

139,909

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Shares

Value

Common

Stocks

(continued)

Northwestern

Energy

Group,

Inc.

2,422

$

116,062

255,971

Office

REITs

—

0.4%

COPT

Defense

Properties,

REIT

4,451

107,848

Cousins

Properties,

Inc.,

REIT

6,003

136,928

Kilroy

Realty

Corp.,

REIT

4,219

159,866

Vornado

Realty

Trust,

REIT

6,323

166,295

570,937

Oil,

Gas

&

Consumable

Fuels

—

3.0%

Antero

Midstream

Corp.

13,470

180,498

Antero

Resources

Corp.*

11,173

287,146

Chesapeake

Energy

Corp.

4,406

364,729

Chord

Energy

Corp.

1,633

265,281

Civitas

Resources,

Inc.

3,376

231,864

CNX

Resources

Corp.*

6,282

131,608

DT

Midstream,

Inc.

3,832

220,838

Equitrans

Midstream

Corp.

17,135

183,173

HF

Sinclair

Corp.

6,192

343,656

Matador

Resources

Co.

4,382

276,723

Murphy

Oil

Corp.

5,804

230,245

Ovintiv,

Inc.

10,038

495,977

PBF

Energy,

Inc.,

Class

a

A

4,301

200,857

Permian

Resources

Corp.,

Class

a

A

16,440

255,806

Range

Resources

Corp.

9,543

301,750

Southwestern

Energy

Co.*(a)

43,562

303,627

4,273,778

Paper

&

Forest

Products

—

0.1%

Louisiana-Pacific

Corp.

2,538

187,736

Personal

Care

Products

—

0.7%

BellRing

Brands,

Inc.*

5,199

296,083

Coty,

Inc.,

Class

a

A*

14,811

186,026

elf

Beauty,

Inc.*

2,183

455,221

937,330

Pharmaceuticals

—

0.3%

Jazz

Pharmaceuticals

plc*

2,490

296,061

Perrigo

Co.

plc

5,359

140,727

436,788

Professional

Services

—

2.1%

ASGN,

Inc.*

1,867

185,430

CACI

International,

Inc.,

Class

a

A*

881

330,243

Concentrix

Corp.

1,870

135,481

ExlService

Holdings,

Inc.*

6,523

202,996

Exponent,

Inc.

2,002

161,942

FTI

Consulting,

Inc.*

1,404

290,459

Genpact

Ltd.

6,601

224,434

Insperity,

Inc.

1,401

142,608

KBR,

Inc.

5,339

320,500

ManpowerGroup,

Inc.

1,930

139,269

Maximus,

Inc.

2,404

201,119

Paylocity

Holding

Corp.*

1,711

288,492

Investments

Shares

Value

Common

Stocks

(continued)

Science

Applications

International

Corp.

2,094

$

293,076

2,916,049

Real

Estate

Management

&

Development

—

0.3%

Jones

Lang

LaSalle,

Inc.*

1,881

357,841

Residential

REITs

—

0.9%

American

Homes

4

Rent,

Class

a

A,

REIT

12,512

463,069

Apartment

Income

REIT

Corp.,

Class

a

A,

REIT

5,813

176,250

Equity

LifeStyle

Properties,

Inc.,

REIT

7,372

496,283

Independence

Realty

Trust,

Inc.,

REIT

8,887

130,106

1,265,708

Retail

REITs

—

0.7%

Agree

Realty

Corp.,

REIT

3,975

218,426

Brixmor

Property

Group,

Inc.,

REIT(a)

11,888

268,788

Kite

Realty

Group

Trust,

REIT

8,677

185,775

NNN

REIT,

Inc.,

REIT

7,215

293,578

966,567

Semiconductors

&

Semiconductor

Equipment

—

2.0%

Allegro

MicroSystems,

Inc.*

2,817

88,707

Amkor

Technology,

Inc.

4,082

126,624

Cirrus

Logic,

Inc.*

2,132

195,760

Lattice

Semiconductor

Corp.*

5,459

418,214

MACOM

Technology

Solutions

Holdings,

Inc.*

2,140

189,026

MKS

Instruments,

Inc.

2,486

305,181

Onto

Innovation,

Inc.*

1,941

357,455

Power

Integrations,

Inc.

2,249

160,714

Rambus,

Inc.*

4,252

251,888

Silicon

Laboratories,

Inc.*

1,257

172,888

Synaptics,

Inc.*

1,550

155,155

Universal

Display

Corp.

1,723

300,526

Wolfspeed,

Inc.*

4,956

128,955

2,851,093

Software

—

1.7%

Aspen

Technology,

Inc.*

1,108

214,830

Blackbaud,

Inc.*

1,704

117,883

CommVault

Systems,

Inc.*

1,732

165,770

Dolby

Laboratories,

Inc.,

Class

a

A

2,355

190,755

Dropbox,

Inc.,

Class

a

A*

10,132

242,661

Dynatrace,

Inc.*

9,431

467,306

Manhattan

Associates,

Inc.*

2,435

616,859

Qualys,

Inc.*

1,455

250,056

Teradata

Corp.*

3,868

145,514

2,411,634

Specialized

REITs

—

1.3%

CubeSmart,

REIT

8,893

387,824

EPR

Properties,

REIT

2,979

122,377

ULTRA

MIDCAP400

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

42

MVV

::

Investments

Shares

Value

Common

Stocks

(continued)

Gaming

and

Leisure

Properties,

Inc.,

REIT

10,560

$

480,269

Lamar

Advertising

Co.,

Class

a

A,

REIT

3,464

382,945

National

Storage

Affiliates

Trust,

REIT

3,056

109,436

PotlatchDeltic

Corp.,

REIT

3,139

141,914

Rayonier,

Inc.,

REIT

5,396

185,784

1,810,549

Specialty

Retail

—

3.0%

AutoNation,

Inc.*

1,026

153,695

Burlington

Stores,

Inc.*

2,566

526,287

Dick's

Sporting

Goods,

Inc.

2,430

432,273

Five

Below,

Inc.*

2,202

441,897

Floor

&

Decor

Holdings,

Inc.,

Class

a

A*

4,215

510,521

GameStop

Corp.,

Class

a

A*(a)

10,623

151,590

Gap,

Inc.

(The)

8,485

160,706

Lithia

Motors,

Inc.,

Class

a

A

1,088

325,377

Murphy

USA,

Inc.

766

319,430

Penske

Automotive

Group,

Inc.

771

118,348

RH*

611

167,658

Valvoline,

Inc.*

5,484

233,838

Williams-Sonoma,

Inc.

2,537

597,540

4,139,160

Technology

Hardware,

Storage

&

Peripherals

—

1.6%

Pure

Storage,

Inc.,

Class

a

A*

11,597

610,582

Super

Micro

Computer,

Inc.*

1,834

1,588,464

2,199,046

Textiles,

Apparel

&

Luxury

Goods

—

1.7%

Capri

Holdings

Ltd.*

4,596

212,014

Carter's,

Inc.

1,456

117,863

Columbia

Sportswear

Co.

1,364

112,789

Crocs,

Inc.*

2,395

292,789

Deckers

Outdoor

Corp.*

1,018

911,711

PVH

Corp.

2,390

326,641

Skechers

USA,

Inc.,

Class

a

A*

5,284

326,604

Under

Armour,

Inc.,

Class

a

A*

7,466

66,895

Under

Armour,

Inc.,

Class

a

C*

7,650

65,331

2,432,637

Trading

Companies

&

Distributors

—

1.0%

Core

&

Main,

Inc.,

Class

a

A*

6,644

317,118

GATX

Corp.

1,404

178,083

MSC

Industrial

Direct

Co.,

Inc.,

Class

a

A

1,834

185,124

Investments

Shares

Value

Common

Stocks

(continued)

Watsco,

Inc.

1,339

$

527,727

WESCO

International,

Inc.

1,737

259,664

1,467,716

Water

Utilities

—

0.3%

Essential

Utilities,

Inc.

9,939

345,678

Total

Common

Stocks

(Cost

$89,081,243)

104,475,973

Securities

Lending

Reinvestments

(b)

—

0

.5

%

Investment

Companies

—

0

.5

%

Invesco

Government

&

Agency

Portfolio,

Institutional

Class

5.25%

(c)

(Cost

$771,485)

771,485

771,485

Principal

Amount

Short-Term

Investments

—

5

.4

%

Repurchase

Agreements

(d)

—

5

.4

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$7,582,224

(Cost

$7,581,109)

$

7,581,109

7,581,109

Total

Investments

—

80.3%

(Cost

$97,433,837)

112,828,567

Other

assets

less

liabilities

—

19.7%

27,669,207

Net

Assets

—

100.0%

$

140,497,774

*

Non-income

producing

security.

(a)

The

security

or

a

portion

of

this

security

is

on

loan

at

February

29,

2024.

The

total

value

of

securities

on

loan

at

February

29,

2024

was

$806,696,

collateralized

in

the

form

of

cash

with

a

value

of

$771,485

that

was

reinvested

in

the

securities

shown

in

the

Securities

Lending

Reinvestment

section

of

the

Schedule

of

Portfolio

Investments

and

$69,071

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

6.25%,

and

maturity

dates

ranging

from

April

15,

2024

–

August

15,

2049.

The

total

value

of

collateral

is

$840,556.

(b)

The

security

was

purchased

with

cash

collateral

held

from

securities

on

loan

at

February

29,

2024.

The

total

value

of

securities

purchased

was

$771,485.

(c)

Rate

shown

is

the

7-day

yield

as

of

February

29,

2024.

(d)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Futures

Contracts

Purchased

Ultra

MidCap400

had

the

following

open

long

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

AAAAAA

Expiration

Date

AAAAAA

Trading

Currency

AA

Notional

Amount

AAAAAA

Value

and

Unrealized

Appreciation

AAAAAA

S&P

Midcap

400

E-Mini

Index

33

3/15/2024

U.S.

Dollar

$

9,545,580

$

775,165

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

MIDCAP400

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

43

MVV

::

Swap

Agreements

Ultra

MidCap400

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

($)

19,488,897

2/11/2025

Bank

of

America

NA

5.98%

S&P

MidCap

400

®

2,121,047

22,645,509

2/11/2025

BNP

Paribas

SA

5.88%

S&P

MidCap

400

®

2,390,749

15,892,904

3/6/2025

Citibank

NA

5.73%

S&P

MidCap

400

®

1,406,403

27,204,095

11/7/2024

Goldman

Sachs

International

5.83%

S&P

MidCap

400

®

1,953,127

36,535,258

11/7/2024

Goldman

Sachs

International

5.60%

SPDR

®

S&P

MidCap

400

®

ETF

Trust

2,172,838

63,739,353

4,125,965

10,894,935

3/6/2024

Morgan

Stanley

&

Co.

International

plc

5.88%

S&P

MidCap

400

®

1,067,996

19,659,447

11/14/2024

Societe

Generale

5.85%

S&P

MidCap

400

®

1,232,252

14,690,385

11/7/2024

UBS

AG

5.68%

S&P

MidCap

400

®

803,237

167,011,430

13,147,649

Total

Unrealized

Appreciation

13,147,649

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRA

MSCI

BRAZIL

CAPPED

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

44

UBR

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

71

.4

%

Repurchase

Agreements

(a)

—

71

.4

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$3,427,453

(Cost

$3,426,948)

$

3,426,948

$

3,426,948

Total

Investments

—

71.4%

(Cost

$3,426,948)

3,426,948

Other

assets

less

liabilities

—

28.6%

1,375,213

Net

Assets

—

100.0%

$

4,802,161

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

a

Ultra

MSCI

Brazil

Capped

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

b

Counterparty

Rate

Paid

(Received)

c

Reference

Instrument

Value

and

Unrealized

Appreciation

/

(Depreciation)

($)

851,183

4/10/2025

Bank

of

America

NA

5.63%

iShares

®

MSCI

Brazil

Capped

ETF

46,402

2,626,441

11/14/2024

Citibank

NA

5.63%

iShares

®

MSCI

Brazil

Capped

ETF

(

22,291

)

2,037,227

11/14/2024

Goldman

Sachs

International

4.33%

iShares

®

MSCI

Brazil

Capped

ETF

(

36,419

)

112,611

11/14/2024

Morgan

Stanley

&

Co.

International

plc

5.78%

iShares

®

MSCI

Brazil

Capped

ETF

20,143

2,028,127

11/14/2024

Societe

Generale

5.53%

iShares

®

MSCI

Brazil

Capped

ETF

(

36,850

)

1,948,503

11/14/2024

UBS

AG

5.33%

iShares

®

MSCI

Brazil

Capped

ETF

(

48,164

)

9,604,092

(

77,179

)

Total

Unrealized

Appreciation

66,545

Total

Unrealized

Depreciation

(

143,724

)

a

In

order

to

facilitate

the

daily

valuation

of

these

swap

transactions

as

of

close

of

business

New

York

time,

one

or

more

financial

products

traded

on

a

U.S.

exchange

are

used

as

the

reference

entity

as

a

surrogate

for

the

respective

underlying

index

for

the

purposes

of

both

daily

valuation

calculation

as

well

as

final

settlement

of

the

swap.

b

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

c

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

MSCI

EAFE

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

45

EFO

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

51

.0

%

Repurchase

Agreements

(a)

—

51

.0

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$4,867,021

(Cost

$4,866,306)

$

4,866,306

$

4,866,306

Total

Investments

—

51.0%

(Cost

$4,866,306)

4,866,306

Other

assets

less

liabilities

—

49.0%

4,676,585

Net

Assets

—

100.0%

$

9,542,891

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

a

Ultra

MSCI

EAFE

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

b

Counterparty

Rate

Paid

(Received)

c

Reference

Instrument

Value

and

Unrealized

Appreciation

($)

6,150,109

4/10/2025

Bank

of

America

NA

5.63%

iShares

®

MSCI

EAFE

ETF

1,198,822

5,374,899

11/14/2024

Citibank

NA

5.73%

iShares

®

MSCI

EAFE

ETF

189,546

1,641,482

3/6/2025

Goldman

Sachs

International

5.93%

iShares

®

MSCI

EAFE

ETF

173,386

3,054

11/14/2024

Morgan

Stanley

&

Co.

International

plc

5.78%

iShares

®

MSCI

EAFE

ETF

320

1,574,296

11/14/2024

Societe

Generale

6.03%

iShares

®

MSCI

EAFE

ETF

189,525

4,313,662

3/6/2025

UBS

AG

5.53%

iShares

®

MSCI

EAFE

ETF

244,263

19,057,502

1,995,862

Total

Unrealized

Appreciation

1,995,862

a

In

order

to

facilitate

the

daily

valuation

of

these

swap

transactions

as

of

close

of

business

New

York

time,

one

or

more

financial

products

traded

on

a

U.S.

exchange

are

used

as

the

reference

entity

as

a

surrogate

for

the

respective

underlying

index

for

the

purposes

of

both

daily

valuation

calculation

as

well

as

final

settlement

of

the

swap.

b

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

c

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRA

MSCI

EMERGING

MARKETS

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

46

EET

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

77

.9

%

Repurchase

Agreements

(a)

—

77

.9

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$11,534,515

(Cost

$11,532,820)

$

11,532,820

$

11,532,820

Total

Investments

—

77.9%

(Cost

$11,532,820)

11,532,820

Other

assets

less

liabilities

—

22.1%

3,272,714

Net

Assets

—

100.0%

$

14,805,534

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

a

Ultra

MSCI

Emerging

Markets

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

b

Counterparty

Rate

Paid

(Received)

c

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

4,054,306

3/6/2025

Bank

of

America

NA

5.58%

iShares

®

MSCI

Emerging

Markets

ETF

(

308,705

)

2,446,115

11/14/2024

Citibank

NA

5.48%

iShares

®

MSCI

Emerging

Markets

ETF

(

131,373

)

3,745,158

3/6/2025

Goldman

Sachs

International

5.63%

iShares

®

MSCI

Emerging

Markets

ETF

(

492,060

)

102,008

11/14/2024

Morgan

Stanley

&

Co.

International

plc

5.78%

iShares

®

MSCI

Emerging

Markets

ETF

(

986

)

10,941,941

11/14/2024

Societe

Generale

5.28%

iShares

®

MSCI

Emerging

Markets

ETF

(

106,825

)

8,323,036

11/14/2024

UBS

AG

5.13%

iShares

®

MSCI

Emerging

Markets

ETF

(

245,860

)

29,612,564

(

1,285,809

)

Total

Unrealized

Depreciation

(

1,285,809

)

a

In

order

to

facilitate

the

daily

valuation

of

these

swap

transactions

as

of

close

of

business

New

York

time,

one

or

more

financial

products

traded

on

a

U.S.

exchange

are

used

as

the

reference

entity

as

a

surrogate

for

the

respective

underlying

index

for

the

purposes

of

both

daily

valuation

calculation

as

well

as

final

settlement

of

the

swap.

b

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

c

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

MSCI

JAPAN

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

47

EZJ

::

Investments

Shares

Value

Exchange

Traded

Funds

—

36

.5

%

iShares

MSCI

Japan

ETF

(Cost

$2,509,826)

46,250

$

3,196,800

Principal

Amount

Short-Term

Investments

—

23

.2

%

Repurchase

Agreements

(a)

—

23

.2

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$2,023,046

(Cost

$2,022,748)

$

2,022,748

2,022,748

Total

Investments

—

59.7%

(Cost

$4,532,574)

5,219,548

Other

assets

less

liabilities

—

40.3%

3,517,498

Net

Assets

—

100.0%

$

8,737,046

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

a

Ultra

MSCI

Japan

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

b

Counterparty

Rate

Paid

(Received)

c

Reference

Instrument

Value

and

Unrealized

Appreciation

($)

2,618,469

3/6/2025

Bank

of

America

NA

5.68%

iShares

®

MSCI

Japan

ETF

187,045

2,454,034

4/10/2025

Citibank

NA

5.83%

iShares

®

MSCI

Japan

ETF

486,578

951,499

3/6/2025

Goldman

Sachs

International

5.83%

iShares

®

MSCI

Japan

ETF

112,404

206,639

11/14/2024

Morgan

Stanley

&

Co.

International

plc

5.78%

iShares

®

MSCI

Japan

ETF

26,895

3,256,561

11/14/2024

Societe

Generale

5.68%

iShares

®

MSCI

Japan

ETF

5,190

4,770,424

11/14/2024

UBS

AG

5.33%

iShares

®

MSCI

Japan

ETF

387,455

14,257,626

1,205,567

Total

Unrealized

Appreciation

1,205,567

a

In

order

to

facilitate

the

daily

valuation

of

these

swap

transactions

as

of

close

of

business

New

York

time,

one

or

more

financial

products

traded

on

a

U.S.

exchange

are

used

as

the

reference

entity

as

a

surrogate

for

the

respective

underlying

index

for

the

purposes

of

both

daily

valuation

calculation

as

well

as

final

settlement

of

the

swap.

b

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

c

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRA

NASDAQ

BIOTECHNOLOGY

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

48

BIB

::

Investments

Shares

Value

Common

Stocks

—

72

.1

%

Biotechnology

—

58.5%

4D

Molecular

Therapeutics,

Inc.*

3,063

$

85,825

89bio,

Inc.*

6,677

76,585

AC

Immune

SA*

5,991

21,687

ACADIA

Pharmaceuticals,

Inc.*

11,763

273,372

ACELYRIN,

Inc.*

6,975

58,939

ADMA

Biologics,

Inc.*

16,190

86,778

Agios

Pharmaceuticals,

Inc.*

4,004

129,409

Akero

Therapeutics,

Inc.*

3,990

107,690

Alector,

Inc.*

6,807

47,445

Alkermes

plc*

11,957

355,003

Allogene

Therapeutics,

Inc.*

12,056

59,195

Alnylam

Pharmaceuticals,

Inc.*

8,990

1,358,299

Alpine

Immune

Sciences,

Inc.*

4,695

165,358

ALX

Oncology

Holdings,

Inc.*

3,569

52,357

Amarin

Corp.

plc,

ADR*(a)

27,623

29,557

Ambrx

Biopharma,

Inc.*

4,525

126,428

Amgen,

Inc.

19,083

5,225,498

Amicus

Therapeutics,

Inc.*

21,011

269,361

AnaptysBio,

Inc.*

1,904

48,609

Anavex

Life

Sciences

Corp.*(a)

5,880

30,223

Apellis

Pharmaceuticals,

Inc.*

8,490

526,125

Apogee

Therapeutics,

Inc.*(a)

3,440

119,781

Arbutus

Biopharma

Corp.*

12,014

33,639

Arcellx,

Inc.*

3,488

229,580

Arcturus

Therapeutics

Holdings,

Inc.*

1,914

74,187

Arcutis

Biotherapeutics,

Inc.*(a)

6,762

69,513

Ardelyx,

Inc.*

16,632

155,010

Argenx

SE,

ADR*

2,301

874,403

Arrowhead

Pharmaceuticals,

Inc.*

8,820

283,122

ARS

Pharmaceuticals,

Inc.*

6,879

57,577

Ascendis

Pharma

A/S,

ADR*

4,108

606,998

Aurinia

Pharmaceuticals,

Inc.*

10,289

58,853

Autolus

Therapeutics

plc,

ADR*(a)

10,070

60,420

Avidity

Biosciences,

Inc.*

5,310

97,173

Beam

Therapeutics,

Inc.*

5,842

230,701

BeiGene

Ltd.,

ADR*

3,011

498,772

Bicycle

Therapeutics

plc,

ADR*(a)

2,477

62,148

BioCryst

Pharmaceuticals,

Inc.*

14,674

82,615

Biogen,

Inc.*

10,381

2,252,573

BioMarin

Pharmaceutical,

Inc.*

13,496

1,164,435

Biomea

Fusion,

Inc.*(a)

2,558

44,765

BioNTech

SE,

ADR*

6,894

613,290

Bluebird

Bio,

Inc.*

13,639

18,958

Blueprint

Medicines

Corp.*

4,355

407,280

Bridgebio

Pharma,

Inc.*

12,464

425,646

Cabaletta

Bio,

Inc.*

3,069

70,219

Caribou

Biosciences,

Inc.*

6,335

50,110

Centessa

Pharmaceuticals

plc,

ADR*(a)

3,957

41,588

Cogent

Biosciences,

Inc.*

6,171

43,197

Coherus

Biosciences,

Inc.*

7,979

18,192

Crinetics

Pharmaceuticals,

Inc.*

4,785

195,898

CRISPR

Therapeutics

AG*

5,691

479,296

Cullinan

Oncology,

Inc.*

3,065

56,611

Investments

Shares

Value

Common

Stocks

(continued)

CureVac

NV*(a)

16,037

$

54,847

Cytokinetics,

Inc.*

7,025

507,486

Day

One

Biopharmaceuticals,

Inc.*

6,236

104,328

Deciphera

Pharmaceuticals,

Inc.*

5,741

95,817

Denali

Therapeutics,

Inc.*

9,901

195,842

Disc

Medicine,

Inc.*

1,729

118,730

Dynavax

Technologies

Corp.*

9,261

117,337

Dyne

Therapeutics,

Inc.*

5,627

151,366

Editas

Medicine,

Inc.*

5,852

58,871

Erasca,

Inc.*

10,825

25,763

Exelixis,

Inc.*

22,280

487,932

Exscientia

plc,

ADR*(a)

3,247

21,593

Fusion

Pharmaceuticals,

Inc.*

5,188

62,048

Galapagos

NV,

ADR*

1,396

49,014

Genmab

A/S,

ADR*

3,004

83,421

Geron

Corp.*

38,909

77,818

Gilead

Sciences,

Inc.

67,180

4,843,678

Grifols

SA,

ADR*

8,740

65,637

Halozyme

Therapeutics,

Inc.*

9,463

376,722

Humacyte,

Inc.*

7,420

32,277

Ideaya

Biosciences,

Inc.*

4,618

206,425

ImmunityBio,

Inc.*(a)

47,838

226,274

Immunocore

Holdings

plc,

ADR*

2,415

162,336

Immunovant,

Inc.*

10,365

366,610

Incyte

Corp.*

16,056

937,028

Inhibrx,

Inc.*

3,389

124,139

Insmed,

Inc.*

10,250

284,130

Intellia

Therapeutics,

Inc.*

6,423

206,307

Ionis

Pharmaceuticals,

Inc.*

10,278

464,668

Iovance

Biotherapeutics,

Inc.*

18,335

291,710

Ironwood

Pharmaceuticals,

Inc.,

Class

a

A*

11,186

105,484

iTeos

Therapeutics,

Inc.*

2,565

27,471

Janux

Therapeutics,

Inc.*(a)

3,307

159,993

KalVista

Pharmaceuticals,

Inc.*

2,978

40,650

Karuna

Therapeutics,

Inc.*

2,702

848,347

Keros

Therapeutics,

Inc.*

2,435

164,362

Kiniksa

Pharmaceuticals

Ltd.,

Class

a

A*

2,536

53,611

Krystal

Biotech,

Inc.*

2,020

322,129

Kura

Oncology,

Inc.*

5,322

112,188

Kymera

Therapeutics,

Inc.*

3,976

169,775

Legend

Biotech

Corp.,

ADR*

5,708

371,933

Lexicon

Pharmaceuticals,

Inc.*(a)

17,549

43,697

Lyell

Immunopharma,

Inc.*

18,047

52,697

MacroGenics,

Inc.*

4,444

79,725

Madrigal

Pharmaceuticals,

Inc.*

1,414

333,987

MannKind

Corp.*

19,314

79,381

MeiraGTx

Holdings

plc*

4,557

28,117

Merus

NV*

4,136

200,513

Mineralys

Therapeutics,

Inc.*(a)

2,946

45,309

Mirum

Pharmaceuticals,

Inc.*

3,340

95,891

Moderna,

Inc.*

27,316

2,519,628

Morphic

Holding,

Inc.*

3,564

131,690

Myriad

Genetics,

Inc.*

6,353

132,968

Neurocrine

Biosciences,

Inc.*

7,039

917,886

Novavax,

Inc.*(a)

8,501

41,995

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

NASDAQ

BIOTECHNOLOGY

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

49

BIB

::

Investments

Shares

Value

Common

Stocks

(continued)

Nurix

Therapeutics,

Inc.*

3,479

$

42,966

Nuvalent,

Inc.,

Class

a

A*

4,097

344,640

Olema

Pharmaceuticals,

Inc.*

3,924

48,658

ORIC

Pharmaceuticals,

Inc.*

4,827

61,496

Ovid

therapeutics,

Inc.*

5,064

17,218

Precigen,

Inc.*(a)

17,836

27,467

Prime

Medicine,

Inc.*

6,974

60,186

Protagonist

Therapeutics,

Inc.*

4,132

125,530

Prothena

Corp.

plc*

3,844

106,056

PTC

Therapeutics,

Inc.*

5,406

152,395

RAPT

Therapeutics,

Inc.*(a)

2,465

21,125

Recursion

Pharmaceuticals,

Inc.,

Class

a

A*

14,923

200,864

Regeneron

Pharmaceuticals,

Inc.*

6,247

6,035,164

REGENXBIO,

Inc.*

3,152

54,971

Relay

Therapeutics,

Inc.*

8,833

88,507

Reneo

Pharmaceuticals,

Inc.*(a)

2,389

3,942

Replimune

Group,

Inc.*

4,232

36,311

REVOLUTION

Medicines,

Inc.*

11,735

345,948

Rhythm

Pharmaceuticals,

Inc.*

4,234

183,840

Rocket

Pharmaceuticals,

Inc.*

6,460

189,278

Roivant

Sciences

Ltd.*

57,596

658,898

Sage

Therapeutics,

Inc.*

4,296

92,278

Sana

Biotechnology,

Inc.*

15,673

157,357

Sarepta

Therapeutics,

Inc.*

6,703

857,314

Savara,

Inc.*

9,696

48,965

Scholar

Rock

Holding

Corp.*

5,170

80,135

SpringWorks

Therapeutics,

Inc.*

5,163

254,329

Summit

Therapeutics,

Inc.*(a)

50,212

227,962

Syndax

Pharmaceuticals,

Inc.*

5,879

137,804

Tango

Therapeutics,

Inc.*(a)

7,307

81,327

Taysha

Gene

Therapies,

Inc.*(a)

13,395

42,328

Tourmaline

Bio,

Inc.

1,838

71,351

Travere

Therapeutics,

Inc.*

5,384

40,703

Twist

Bioscience

Corp.*

4,132

162,346

Ultragenyx

Pharmaceutical,

Inc.*

5,883

304,269

uniQure

NV*

3,426

19,700

United

Therapeutics

Corp.*

3,367

759,730

UroGen

Pharma

Ltd.*

2,211

40,528

Vanda

Pharmaceuticals,

Inc.*(a)

4,122

18,425

Vaxcyte,

Inc.*

7,715

569,521

Vera

Therapeutics,

Inc.,

Class

a

A*(a)

3,761

177,068

Veracyte,

Inc.*

5,232

123,214

Vericel

Corp.*

3,419

156,180

Vertex

Pharmaceuticals,

Inc.*

14,503

6,101,992

Verve

Therapeutics,

Inc.*

5,463

93,144

Vir

Biotechnology,

Inc.*

9,637

108,320

Voyager

Therapeutics,

Inc.*

3,863

32,140

Xencor,

Inc.*

4,362

100,108

Xenon

Pharmaceuticals,

Inc.*

5,294

249,877

Y-mAbs

Therapeutics,

Inc.*

3,125

52,188

Zai

Lab

Ltd.,

ADR*(a)

3,595

75,423

Zentalis

Pharmaceuticals,

Inc.*

5,071

75,609

Zymeworks,

Inc.*

5,016

60,242

56,667,211

Health

Care

Equipment

&

Supplies

—

0.1%

Novocure

Ltd.*

7,655

117,198

Investments

Shares

Value

Common

Stocks

(continued)

Health

Care

Providers

&

Services

—

0.3%

23andMe

Holding

Co.,

Class

a

A*

22,324

$

12,725

Castle

Biosciences,

Inc.*

1,928

34,820

Guardant

Health,

Inc.*

8,454

160,626

PetIQ,

Inc.,

Class

a

A*

2,091

38,077

246,248

Life

Sciences

Tools

&

Services

—

3.3%

AbCellera

Biologics,

Inc.*(a)

20,789

104,984

Adaptive

Biotechnologies

Corp.*

10,372

42,629

Fortrea

Holdings,

Inc.*

6,362

238,830

Illumina,

Inc.*

11,376

1,590,706

Maravai

LifeSciences

Holdings,

Inc.,

Class

a

A*

9,471

73,211

MaxCyte,

Inc.*

7,421

34,137

Medpace

Holdings,

Inc.*

2,199

874,146

Nautilus

Biotechnology,

Inc.,

Class

a

A*

8,954

24,086

OmniAb,

Inc.*

8,320

48,589

Pacific

Biosciences

of

California,

Inc.*

19,161

105,960

3,137,278

Pharmaceuticals

—

9.9%

Aclaris

Therapeutics,

Inc.*

5,076

6,040

Amphastar

Pharmaceuticals,

Inc.*

3,432

159,828

Amylyx

Pharmaceuticals,

Inc.*

4,838

91,196

ANI

Pharmaceuticals,

Inc.*

1,464

99,069

Arvinas,

Inc.*

3,942

181,253

AstraZeneca

plc,

ADR

39,837

2,555,942

ATAI

Life

Sciences

NV*(a)

11,894

23,074

Atea

Pharmaceuticals,

Inc.*

5,978

25,765

Avadel

Pharmaceuticals

plc,

ADR*(a)

6,399

81,779

Axsome

Therapeutics,

Inc.*

3,392

276,041

Collegium

Pharmaceutical,

Inc.*

2,337

85,791

Cymabay

Therapeutics,

Inc.*

8,125

261,544

Edgewise

Therapeutics,

Inc.*

6,662

108,790

Enliven

Therapeutics,

Inc.*(a)

2,952

47,143

Evolus,

Inc.*

4,094

60,714

EyePoint

Pharmaceuticals,

Inc.*

3,499

95,208

Fulcrum

Therapeutics,

Inc.*

4,431

45,241

Harmony

Biosciences

Holdings,

Inc.*

4,196

134,692

Harrow,

Inc.*(a)

2,516

27,236

HUTCHMED

China

Ltd.,

ADR*(a)

2,223

33,590

Innoviva,

Inc.*

4,591

70,150

Intra-Cellular

Therapies,

Inc.*

6,894

479,271

Jazz

Pharmaceuticals

plc*

4,511

536,358

Ligand

Pharmaceuticals,

Inc.*

1,249

99,108

Marinus

Pharmaceuticals,

Inc.*

3,910

37,145

Ocular

Therapeutix,

Inc.*

7,897

79,444

Pacira

BioSciences,

Inc.*

3,327

98,878

Phathom

Pharmaceuticals,

Inc.*(a)

4,102

43,891

Phibro

Animal

Health

Corp.,

Class

a

A

1,458

18,852

Pliant

Therapeutics,

Inc.*

4,292

68,114

ULTRA

NASDAQ

BIOTECHNOLOGY

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

50

BIB

::

Investments

Shares

Value

Common

Stocks

(continued)

Revance

Therapeutics,

Inc.*

6,292

$

44,925

Royalty

Pharma

plc,

Class

a

A

32,003

970,971

Sanofi

SA,

ADR

20,103

961,929

SIGA

Technologies,

Inc.

5,093

26,535

Structure

Therapeutics,

Inc.,

ADR*

2,689

109,093

Supernus

Pharmaceuticals,

Inc.*

3,914

116,246

Tarsus

Pharmaceuticals,

Inc.*

2,371

90,620

Terns

Pharmaceuticals,

Inc.*

4,428

32,413

Theravance

Biopharma,

Inc.*(a)

3,569

33,798

Third

Harmonic

Bio,

Inc.*

2,892

29,325

Ventyx

Biosciences,

Inc.*(a)

4,233

29,970

Verona

Pharma

plc,

ADR*

4,782

82,346

Viatris,

Inc.

85,950

1,063,202

WaVe

Life

Sciences

Ltd.*

8,530

41,029

Xeris

Biopharma

Holdings,

Inc.*(a)

9,896

30,430

9,593,979

Total

Common

Stocks

(Cost

$78,661,158)

69,761,914

Number

of

Rights

Rights

—

0

.0

%

(b)

Biotechnology

—

0.0%(b)

Achillion

Pharmaceuticals,

Inc.,

CVR*(c)(d)

25,307

11,641

Cartesian

Therapeutics,

Inc.,

expiring

5/3/2024*(c)(d)

9,785

1,762

Total

Rights

(Cost

13403)

13,403

Shares

Securities

Lending

Reinvestments

(e)

—

1

.5

%

Investment

Companies

—

1

.5

%

Invesco

Government

&

Agency

Portfolio,

Institutional

Class

5.25%

(f)

(Cost

$1,464,072)

1,464,072

1,464,072

Principal

Amount

Short-Term

Investments

—

8

.7

%

Repurchase

Agreements

(g)

—

8

.7

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$8,467,993

(Cost

$8,466,748)

$

8,466,748

8,466,748

Total

Investments

—

82.3%

(Cost

$88,605,381)

79,706,137

Other

assets

less

liabilities

—

17.7%

17,112,261

Net

Assets

—

100.0%

$

96,818,398

*

Non-income

producing

security.

(a)

The

security

or

a

portion

of

this

security

is

on

loan

at

February

29,

2024.

The

total

value

of

securities

on

loan

at

February

29,

2024

was

$1,468,639,

collateralized

in

the

form

of

cash

with

a

value

of

$1,464,072

that

was

reinvested

in

the

securities

shown

in

the

Securities

Lending

Reinvestment

section

of

the

Schedule

of

Portfolio

Investments

and

$59,892

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

6.25%,

and

maturity

dates

ranging

from

March

28,

2024

–

February

15,

2053.

The

total

value

of

collateral

is

$1,523,964.

(b)

Represents

less

than

0.05%

of

net

assets.

(c)

Security

fair

valued

as

of

February

29,

2024

in

accordance

with

procedures

approved

by

the

Board

of

Trustees.

Total

value

of

all

such

securities

at

February

29,

2024

amounted

to

$13,403,

which

represents

approximately

0.01%

of

net

assets

of

the

Fund.

(d)

Illiquid

security.

(e)

The

security

was

purchased

with

cash

collateral

held

from

securities

on

loan

at

February

29,

2024.

The

total

value

of

securities

purchased

was

$1,464,072.

(f)

Rate

shown

is

the

7-day

yield

as

of

February

29,

2024.

(g)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Abbreviations

ADR

American

Depositary

Receipt

CVR

Contingent

Value

Rights

-

No

defined

expiration

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

NASDAQ

BIOTECHNOLOGY

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

51

BIB

::

Swap

Agreements

Ultra

Nasdaq

Biotechnology

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

/

(Depreciation)

($)

14,764,819

3/6/2025

Bank

of

America

NA

5.48%

Nasdaq

Biotechnology

Index

®

(

1,350,336

)

50,397,013

11/6/2025

BNP

Paribas

SA

5.63%

Nasdaq

Biotechnology

Index

®

2,472,286

4,614,559

3/6/2025

Citibank

NA

5.48%

Nasdaq

Biotechnology

Index

®

(

64,543

)

5,850,128

11/7/2024

Goldman

Sachs

International

5.93%

Nasdaq

Biotechnology

Index

®

59,198

3,024,706

3/6/2024

Morgan

Stanley

&

Co.

International

plc

5.78%

Nasdaq

Biotechnology

Index

®

27,858

22,829,227

11/14/2024

Societe

Generale

5.88%

Nasdaq

Biotechnology

Index

®

899,412

22,891,227

11/7/2024

UBS

AG

5.33%

Nasdaq

Biotechnology

Index

®

554,010

124,371,679

2,597,885

Total

Unrealized

Appreciation

4,012,764

Total

Unrealized

Depreciation

(

1,414,879

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRA

NASDAQ

CLOUD

COMPUTING

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

52

SKYU

::

Investments

Shares

Value

Common

Stocks

—

79

.8

%

Broadline

Retail

—

3.2%

Amazon.com,

Inc.*

653

$

115,424

Communications

Equipment

—

5.1%

Arista

Networks,

Inc.*

434

120,453

Cisco

Systems,

Inc.

1,314

63,558

184,011

Diversified

Telecommunication

Services

—

1.0%

Lumen

Technologies,

Inc.*

22,107

35,813

Entertainment

—

0.3%

Eventbrite,

Inc.,

Class

a

A*

1,990

11,144

Financial

Services

—

0.7%

Toast,

Inc.,

Class

a

A*

1,069

24,587

Health

Care

Technology

—

0.6%

Veeva

Systems,

Inc.,

Class

a

A*

91

20,521

Interactive

Media

&

Services

—

2.8%

Alphabet,

Inc.,

Class

a

A*

720

99,691

IT

Services

—

16.7%

Akamai

Technologies,

Inc.*

550

61,006

Cloudflare,

Inc.,

Class

a

A*

824

81,197

DigitalOcean

Holdings,

Inc.*

1,408

53,391

Fastly,

Inc.,

Class

a

A*

2,602

37,001

International

Business

Machines

Corp.

602

111,388

MongoDB,

Inc.,

Class

a

A*

191

85,488

Shopify,

Inc.,

Class

a

A*

655

50,022

Snowflake,

Inc.,

Class

a

A*

85

16,004

Squarespace,

Inc.,

Class

a

A*

567

18,870

Twilio,

Inc.,

Class

a

A*

737

43,918

Wix.com

Ltd.*

313

43,876

602,161

Media

—

0.5%

Trade

Desk,

Inc.

(The),

Class

a

A*

226

19,307

Professional

Services

—

0.9%

Paycom

Software,

Inc.

88

16,050

Paylocity

Holding

Corp.*

101

17,030

33,080

Software

—

39.7%

Adobe,

Inc.*

78

43,702

Appfolio,

Inc.,

Class

a

A*

84

20,335

Appian

Corp.,

Class

a

A*

877

30,563

AppLovin

Corp.,

Class

a

A*

1,272

75,964

Asana,

Inc.,

Class

a

A*

757

14,913

Atlassian

Corp.,

Class

a

A*

250

51,855

Blackbaud,

Inc.*

211

14,597

BlackLine,

Inc.*

275

15,601

Investments

Shares

Value

Common

Stocks

(continued)

Box,

Inc.,

Class

a

A*

607

$

15,654

Confluent,

Inc.,

Class

a

A*

2,247

76,106

Crowdstrike

Holdings,

Inc.,

Class

a

A*

67

21,718

Datadog,

Inc.,

Class

a

A*

136

17,879

DocuSign,

Inc.,

Class

a

A*

369

19,657

Dropbox,

Inc.,

Class

a

A*

564

13,508

Elastic

NV*

198

26,494

Everbridge,

Inc.*

781

22,079

Gitlab,

Inc.,

Class

a

A*

987

71,182

HashiCorp,

Inc.,

Class

a

A*

2,226

58,032

HubSpot,

Inc.*

97

60,025

Intuit,

Inc.

28

18,561

Microsoft

Corp.

252

104,237

Nutanix,

Inc.,

Class

a

A*

2,213

139,773

Open

Text

Corp.

396

15,242

Oracle

Corp.

821

91,689

Palo

Alto

Networks,

Inc.*

54

16,770

Q2

Holdings,

Inc.*

448

20,711

Qualys,

Inc.*

86

14,780

RingCentral,

Inc.,

Class

a

A*

1,478

49,395

Salesforce,

Inc.*

189

58,367

SAP

SE,

ADR

200

37,574

ServiceNow,

Inc.*

70

53,994

Smartsheet,

Inc.,

Class

a

A*

375

15,829

Sprout

Social,

Inc.,

Class

a

A*

279

17,248

Workday,

Inc.,

Class

a

A*

59

17,385

Workiva,

Inc.,

Class

a

A*

496

42,715

Zoom

Video

Communications,

Inc.,

Class

a

A*

234

16,551

Zscaler,

Inc.*

80

19,358

Zuora,

Inc.,

Class

a

A*

1,743

14,083

1,434,126

Technology

Hardware,

Storage

&

Peripherals

—

8.3%

Dell

Technologies,

Inc.,

Class

a

C

629

59,541

Hewlett

Packard

Enterprise

Co.

2,820

42,948

NetApp,

Inc.

522

46,521

Pure

Storage,

Inc.,

Class

a

A*

2,863

150,737

299,747

Total

Common

Stocks

(Cost

$2,428,543)

2,879,612

Principal

Amount

Short-Term

Investments

—

12

.7

%

Repurchase

Agreements

(a)

—

12

.7

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$457,320

(Cost

$457,253)

$

457,253

457,253

Total

Investments

—

92.5%

(Cost

$2,885,796)

3,336,865

Other

assets

less

liabilities

—

7.5%

272,337

Net

Assets

—

100.0%

$

3,609,202

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

NASDAQ

CLOUD

COMPUTING

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

53

SKYU

::

*

Non-income

producing

security.

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Abbreviations

ADR

American

Depositary

Receipt

Swap

Agreements

Ultra

Nasdaq

Cloud

Computing

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

/

(Depreciation)

($)

2,486,464

11/6/2025

Bank

of

America

NA

5.43%

ISE

Cloud

Computing

Index

(

4,416

)

1,311,159

3/6/2026

BNP

Paribas

SA

5.88%

ISE

Cloud

Computing

Index

(

12,018

)

245,382

11/7/2024

Goldman

Sachs

International

5.93%

ISE

Cloud

Computing

Index

23,446

295,932

3/6/2024

UBS

AG

5.88%

ISE

Cloud

Computing

Index

46,245

4,338,937

53,257

Total

Unrealized

Appreciation

69,691

Total

Unrealized

Depreciation

(

16,434

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRA

NASDAQ

CYBERSECURITY

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

54

UCYB

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

65

.8

%

Repurchase

Agreements

(a)

—

65

.8

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$3,194,752

(Cost

$3,194,280)

$

3,194,280

$

3,194,280

Total

Investments

—

65.8%

(Cost

$3,194,280)

3,194,280

Other

assets

less

liabilities

—

34.2%

1,660,662

Net

Assets

—

100.0%

$

4,854,942

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

Ultra

Nasdaq

Cybersecurity

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

($)

5,053,320

5/6/2025

Bank

of

America

NA

5.58%

First

Trust

Nasdaq

Cybersecurity

ETF

169,836

2,023,903

11/6/2025

BNP

Paribas

SA

5.93%

First

Trust

Nasdaq

Cybersecurity

ETF

395,742

598,673

11/7/2024

Goldman

Sachs

International

5.93%

First

Trust

Nasdaq

Cybersecurity

ETF

147,044

2,045,790

3/6/2024

UBS

AG

5.83%

First

Trust

Nasdaq

Cybersecurity

ETF

65,776

9,721,686

778,398

Total

Unrealized

Appreciation

778,398

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

QQQ

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

55

QLD

::

Investments

Shares

Value

Common

Stocks

—

64

.6

%

Automobiles

—

1.8%

Tesla,

Inc.*

550,401

$

111,114,954

Beverages

—

1.7%

Coca-Cola

Europacific

Partners

plc

134,935

9,260,589

Keurig

Dr

Pepper,

Inc.

413,101

12,355,851

Monster

Beverage

Corp.*

307,398

18,167,222

PepsiCo,

Inc.

406,174

67,156,809

106,940,471

Biotechnology

—

2.5%

Amgen,

Inc.

158,101

43,292,797

Biogen,

Inc.*

42,841

9,296,069

Gilead

Sciences,

Inc.

368,137

26,542,678

Moderna,

Inc.*

112,652

10,391,020

Regeneron

Pharmaceuticals,

Inc.*

31,661

30,587,375

Vertex

Pharmaceuticals,

Inc.*

76,147

32,038,089

152,148,028

Broadline

Retail

—

4.2%

Amazon.com,

Inc.*

1,182,157

208,958,072

MercadoLibre,

Inc.*

14,951

23,851,330

PDD

Holdings,

Inc.,

ADR*

197,341

24,576,848

257,386,250

Commercial

Services

&

Supplies

—

0.5%

Cintas

Corp.

30,119

18,933,105

Copart,

Inc.*

283,721

15,079,771

34,012,876

Communications

Equipment

—

0.9%

Cisco

Systems,

Inc.

1,200,507

58,068,524

Consumer

Staples

Distribution

&

Retail

—

1.8%

Costco

Wholesale

Corp.

130,786

97,290,397

Dollar

Tree,

Inc.*

64,366

9,441,205

Walgreens

Boots

Alliance,

Inc.

255,211

5,425,786

112,157,388

Electric

Utilities

—

0.8%

American

Electric

Power

Co.,

Inc.

155,412

13,239,549

Constellation

Energy

Corp.

94,336

15,890,899

Exelon

Corp.

294,136

10,541,834

Xcel

Energy,

Inc.

163,046

8,590,894

48,263,176

Electronic

Equipment,

Instruments

&

Components

—

0.2%

CDW

Corp.

39,579

9,744,746

Energy

Equipment

&

Services

—

0.1%

Baker

Hughes

Co.,

Class

a

A

297,306

8,797,285

Investments

Shares

Value

Common

Stocks

(continued)

Entertainment

—

1.7%

Electronic

Arts,

Inc.

79,477

$

11,085,452

Netflix,

Inc.*

129,309

77,962,982

Take-Two

Interactive

Software,

Inc.*

50,248

7,382,939

Warner

Bros

Discovery,

Inc.*

720,147

6,330,092

102,761,465

Financial

Services

—

0.3%

PayPal

Holdings,

Inc.*

318,492

19,217,807

Food

Products

—

0.7%

Kraft

Heinz

Co.

(The)

362,385

12,784,943

Mondelez

International,

Inc.,

Class

a

A

402,093

29,380,935

42,165,878

Ground

Transportation

—

0.6%

CSX

Corp.

583,813

22,149,865

Old

Dominion

Freight

Line,

Inc.

32,213

14,253,608

36,403,473

Health

Care

Equipment

&

Supplies

—

1.3%

Dexcom,

Inc.*

114,140

13,134,090

GE

HealthCare

Technologies,

Inc.

134,523

12,279,259

IDEXX

Laboratories,

Inc.*

24,520

14,104,640

Intuitive

Surgical,

Inc.*

104,052

40,122,451

79,640,440

Hotels,

Restaurants

&

Leisure

—

2.0%

Airbnb,

Inc.,

Class

a

A*

128,448

20,226,706

Booking

Holdings,

Inc.*

10,340

35,867,702

DoorDash,

Inc.,

Class

a

A*

109,545

13,646,021

Marriott

International,

Inc.,

Class

a

A

86,762

21,679,221

Starbucks

Corp.

335,854

31,872,545

123,292,195

Industrial

Conglomerates

—

0.6%

Honeywell

International,

Inc.

194,795

38,711,610

Interactive

Media

&

Services

—

6.2%

Alphabet,

Inc.,

Class

a

A*

676,942

93,729,389

Alphabet,

Inc.,

Class

a

C*

654,846

91,534,374

Meta

Platforms,

Inc.,

Class

a

A

403,938

197,982,132

383,245,895

IT

Services

—

0.3%

Cognizant

Technology

Solutions

Corp.,

Class

a

A

148,127

11,704,995

MongoDB,

Inc.,

Class

a

A*

21,096

9,442,148

21,147,143

Life

Sciences

Tools

&

Services

—

0.1%

Illumina,

Inc.*

46,884

6,555,790

ULTRA

QQQ

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

56

QLD

::

Investments

Shares

Value

Common

Stocks

(continued)

Machinery

—

0.3%

PACCAR,

Inc.

154,517

$

17,134,390

Media

—

1.3%

Charter

Communications,

Inc.,

Class

a

A*

43,725

12,852,089

Comcast

Corp.,

Class

a

A

1,186,429

50,838,483

Sirius

XM

Holdings,

Inc.(a)

1,134,219

5,013,248

Trade

Desk,

Inc.

(The),

Class

a

A*

131,810

11,260,528

79,964,348

Oil,

Gas

&

Consumable

Fuels

—

0.2%

Diamondback

Energy,

Inc.

52,856

9,647,277

Pharmaceuticals

—

0.2%

AstraZeneca

plc,

ADR

172,053

11,038,921

Professional

Services

—

0.9%

Automatic

Data

Processing,

Inc.

121,523

30,518,071

Paychex,

Inc.

106,731

13,087,355

Verisk

Analytics,

Inc.,

Class

a

A

42,868

10,369,769

53,975,195

Real

Estate

Management

&

Development

—

0.2%

CoStar

Group,

Inc.*

120,672

10,502,084

Semiconductors

&

Semiconductor

Equipment

—

14.8%

Advanced

Micro

Devices,

Inc.*

477,111

91,858,181

Analog

Devices,

Inc.

146,578

28,116,592

Applied

Materials,

Inc.

247,181

49,836,633

ASML

Holding

NV

(Registered),

NYRS

25,954

24,699,903

Broadcom,

Inc.

137,914

179,355,778

GLOBALFOUNDRIES,

Inc.*(a)

161,823

8,846,863

Intel

Corp.

1,245,625

53,624,156

KLA

Corp.

40,151

27,395,027

Lam

Research

Corp.

38,969

36,562,664

Marvell

Technology,

Inc.

254,877

18,264,486

Microchip

Technology,

Inc.

159,841

13,449,022

Micron

Technology,

Inc.

326,128

29,550,458

NVIDIA

Corp.

282,564

223,542,032

NXP

Semiconductors

NV

76,174

19,022,933

ON

Semiconductor

Corp.*

127,239

10,041,702

QUALCOMM,

Inc.

328,853

51,889,715

Texas

Instruments,

Inc.

268,131

44,866,360

910,922,505

Software

—

11.3%

Adobe,

Inc.*

134,543

75,381,752

ANSYS,

Inc.*

25,662

8,575,471

Atlassian

Corp.,

Class

a

A*

45,834

9,506,888

Autodesk,

Inc.*

63,159

16,305,759

Cadence

Design

Systems,

Inc.*

80,404

24,473,370

Crowdstrike

Holdings,

Inc.,

Class

a

A*

67,253

21,800,060

Datadog,

Inc.,

Class

a

A*

89,311

11,740,824

Investments

Shares

Value

Common

Stocks

(continued)

Fortinet,

Inc.*

226,850

$

15,677,604

Intuit,

Inc.

82,704

54,823,655

Microsoft

Corp.

850,132

351,648,600

Palo

Alto

Networks,

Inc.*

93,174

28,935,186

Roper

Technologies,

Inc.

31,562

17,192,768

Splunk,

Inc.*

49,806

7,780,693

Synopsys,

Inc.*

44,895

25,757,608

Workday,

Inc.,

Class

a

A*

61,717

18,185,531

Zscaler,

Inc.*

43,854

10,611,352

698,397,121

Specialty

Retail

—

0.5%

O'Reilly

Automotive,

Inc.*

17,461

18,987,441

Ross

Stores,

Inc.

100,051

14,903,597

33,891,038

Technology

Hardware,

Storage

&

Peripherals

—

5.2%

Apple,

Inc.

1,778,838

321,524,969

Textiles,

Apparel

&

Luxury

Goods

—

0.3%

Lululemon

Athletica,

Inc.*

35,893

16,765,261

Trading

Companies

&

Distributors

—

0.2%

Fastenal

Co.

168,835

12,326,643

Wireless

Telecommunication

Services

—

0.9%

T-Mobile

US,

Inc.

341,698

55,799,283

Total

Common

Stocks

(Cost

$3,593,285,991)

3,983,664,429

Securities

Lending

Reinvestments

(b)

—

0

.2

%

Investment

Companies

—

0

.2

%

Invesco

Government

&

Agency

Portfolio,

Institutional

Class

5.25%

(c)

(Cost

$12,331,528)

12,331,528

12,331,528

Principal

Amount

Short-Term

Investments

—

10

.4

%

Repurchase

Agreements

(d)

—

1

.5

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$89,824,890

(Cost

$89,811,677)

$

89,811,677

89,811,677

U.S.

Treasury

Obligations

(e)

—

8

.9

%

U.S.

Treasury

Bills

5.28%,

3/7/2024

(f)

100,000,000

99,912,354

5.27%,

3/12/2024

(f)

50,000,000

49,919,425

5.46%,

3/28/2024

(f)

75,000,000

74,703,281

5.32%,

4/25/2024

(f)

50,000,000

49,596,629

5.31%,

5/2/2024

(f)

40,000,000

39,637,266

5.39%,

5/9/2024

(f)

45,000,000

44,547,403

5.30%,

6/18/2024

(f)

100,000,000

98,413,293

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

QQQ

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

57

QLD

::

Investments

Principal

Amount

Value

U.S.

Treasury

Obligations

(e)

(continued)

5.25%,

8/8/2024

(f)

$

100,000,000

$

97,721,556

Total

U.S.

Treasury

Obligations

(Cost

$554,473,893)

554,451,207

Total

Short-Term

Investments

(Cost

$644,285,570)

644,262,884

Total

Investments

—

75.2%

(Cost

$4,249,903,089)

4,640,258,841

Other

assets

less

liabilities

—

24.8%

1,527,667,129

Net

Assets

—

100.0%

$

6,167,925,970

*

Non-income

producing

security.

(a)

The

security

or

a

portion

of

this

security

is

on

loan

at

February

29,

2024.

The

total

value

of

securities

on

loan

at

February

29,

2024

was

$12,218,787,

collateralized

in

the

form

of

cash

with

a

value

of

$12,331,528

that

was

reinvested

in

the

securities

shown

in

the

Securities

Lending

Reinvestment

section

of

the

Schedule

of

Portfolio

Investments

and

$74,761

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

4.38%,

and

maturity

dates

ranging

from

March

31,

2025

–

November

15,

2052.

The

total

value

of

collateral

is

$12,406,289.

(b)

The

security

was

purchased

with

cash

collateral

held

from

securities

on

loan

at

February

29,

2024.

The

total

value

of

securities

purchased

was

$12,331,528.

(c)

Rate

shown

is

the

7-day

yield

as

of

February

29,

2024.

(d)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

(e)

All

or

a

portion

of

these

securities

are

segregated

in

connection

with

obligations

for

swaps

with

a

total

value

of

$351,941,931.

(f)

The

rate

shown

was

the

current

yield

as

of

February

29,

2024.

Abbreviations

ADR

American

Depositary

Receipt

NYRS

New

York

Registry

Shares

Futures

Contracts

Purchased

Ultra

QQQ

had

the

following

open

long

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

AAAAAA

Expiration

Date

AAAAAA

Trading

Currency

AA

Notional

Amount

AAAAAA

Value

and

Unrealized

Appreciation

AAAAAA

Nasdaq

100

E-Mini

Index

650

3/15/2024

U.S.

Dollar

$

235,075,750

$

21,093,240

Swap

Agreements

Ultra

QQQ

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

($)

859,284,225

3/6/2025

Bank

of

America

NA

5.98%

Nasdaq-100

Index

®

81,982,982

898,818,300

11/6/2025

Barclays

Capital

5.93%

Nasdaq-100

Index

®

112,177,349

438,483,599

2/11/2025

BNP

Paribas

SA

6.08%

Nasdaq-100

Index

®

135,886,085

712,425,329

3/6/2025

Citibank

NA

6.08%

Nasdaq-100

Index

®

101,994,844

478,595,077

1/26/2026

Goldman

Sachs

International

5.93%

Nasdaq-100

Index

®

7,179,056

1,243,066,496

1/26/2026

Goldman

Sachs

International

5.73%

PowerShares

QQQ

Trust

SM

,

Series

1

24,833,148

1,721,661,573

32,012,204

564,465,760

4/7/2025

J.P.

Morgan

Securities

5.93%

Nasdaq-100

Index

®

55,446,021

525,202,342

3/6/2024

Morgan

Stanley

&

Co.

International

plc

5.88%

Nasdaq-100

Index

®

128,643,996

968,051,723

3/6/2024

Morgan

Stanley

&

Co.

International

plc

5.88%

PowerShares

QQQ

Trust

SM

,

Series

1

191,401,519

1,493,254,065

320,045,515

813,416,758

4/8/2024

Societe

Generale

6.28%

Nasdaq-100

Index

®

157,303,381

615,439,636

11/7/2024

UBS

AG

6.13%

Nasdaq-100

Index

®

177,164,193

8,117,249,245

1,174,012,574

Total

Unrealized

Appreciation

1,174,012,574

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRA

REAL

ESTATE

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

58

URE

::

Investments

Shares

Value

Common

Stocks

—

70

.9

%

Health

Care

REITs

—

5.7%

Healthpeak

Properties,

Inc.,

REIT

31,873

$

533,873

Ventas,

Inc.,

REIT

18,167

768,283

Welltower,

Inc.,

REIT

24,990

2,303,078

3,605,234

Hotel

&

Resort

REITs

—

1.0%

Host

Hotels

&

Resorts,

Inc.,

REIT

31,851

660,590

Industrial

REITs

—

8.8%

Prologis,

Inc.,

REIT

41,719

5,559,891

Office

REITs

—

2.1%

Alexandria

Real

Estate

Equities,

Inc.,

REIT

7,062

880,843

Boston

Properties,

Inc.,

REIT

6,519

421,910

1,302,753

Real

Estate

Management

&

Development

—

4.5%

CBRE

Group,

Inc.,

Class

a

A*

13,762

1,264,590

CoStar

Group,

Inc.*

18,439

1,604,746

2,869,336

Residential

REITs

—

8.3%

AvalonBay

Communities,

Inc.,

REIT

6,412

1,135,116

Camden

Property

Trust,

REIT

4,821

455,488

Equity

Residential,

REIT

15,603

939,457

Essex

Property

Trust,

Inc.,

REIT

2,898

670,597

Invitation

Homes,

Inc.,

REIT

25,969

884,764

Mid-America

Apartment

Communities,

Inc.,

REIT

5,270

662,334

UDR,

Inc.,

REIT

13,663

485,036

5,232,792

Retail

REITs

—

8.7%

Federal

Realty

Investment

Trust,

REIT

3,317

334,520

Kimco

Realty

Corp.,

REIT

30,024

593,274

Realty

Income

Corp.,

REIT

37,549

1,956,678

Regency

Centers

Corp.,

REIT

7,418

459,545

Simon

Property

Group,

Inc.,

REIT

14,731

2,182,250

5,526,267

Specialized

REITs

—

31.8%

American

Tower

Corp.,

REIT

21,048

4,185,605

Crown

Castle,

Inc.,

REIT

19,596

2,154,384

Digital

Realty

Trust,

Inc.,

REIT

13,674

2,007,480

Equinix,

Inc.,

REIT

4,239

3,767,708

Extra

Space

Storage,

Inc.,

REIT

9,540

1,344,854

Iron

Mountain,

Inc.,

REIT

13,184

1,036,790

Public

Storage,

REIT

7,146

2,028,535

SBA

Communications

Corp.,

Class

a

A,

REIT

4,872

1,019,369

Investments

Shares

Value

Common

Stocks

(continued)

VICI

Properties,

Inc.,

Class

a

A,

REIT

46,710

$

1,398,030

Weyerhaeuser

Co.,

REIT

32,960

1,133,165

20,075,920

Total

Common

Stocks

(Cost

$47,188,274)

44,832,783

Principal

Amount

Short-Term

Investments

—

10

.7

%

Repurchase

Agreements

(a)

—

10

.7

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$6,743,427

(Cost

$6,742,437)

$

6,742,437

6,742,437

Total

Investments

—

81.6%

(Cost

$53,930,711)

51,575,220

Other

assets

less

liabilities

—

18.4%

11,599,658

Net

Assets

—

100.0%

$

63,174,878

*

Non-income

producing

security.

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

REAL

ESTATE

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

59

URE

::

Swap

Agreements

Ultra

Real

Estate

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

($)

6,356,769

3/6/2025

Bank

of

America

NA

6.28%

S&P

Real

Estate

Select

Sector

index

c

758,650

22,999,241

3/6/2025

BNP

Paribas

SA

6.03%

S&P

Real

Estate

Select

Sector

index

c

776,644

4,272,475

4/7/2025

Citibank

NA

5.83%

S&P

Real

Estate

Select

Sector

index

c

121,188

6,822,058

3/6/2025

Goldman

Sachs

International

5.93%

S&P

Real

Estate

Select

Sector

index

c

300,003

4,407,281

3/6/2025

Societe

Generale

6.23%

S&P

Real

Estate

Select

Sector

index

c

199,757

36,850,749

3/6/2025

UBS

AG

5.58%

S&P

Real

Estate

Select

Sector

index

c

722,387

81,708,573

2,878,629

Total

Unrealized

Appreciation

2,878,629

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

c

See

the

Common

Stocks

section

of

the

preceding

Schedule

of

Portfolio

Investments

for

the

representative

components

of

the

underlying

reference

instrument

and

their

relative

weightings.

ULTRA

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(UNAUDITED)

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OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

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UWM

::

Investments

Shares

Value

Common

Stocks

(a)

—

75.6%

Aerospace

&

Defense

—

0.8%

AAR

Corp.*

2,113

$

141,106

AeroVironment,

Inc.*

1,624

205,907

AerSale

Corp.*

1,598

14,126

Archer

Aviation,

Inc.,

Class

a

A*(b)

9,523

45,996

Astronics

Corp.*

1,642

31,477

Cadre

Holdings,

Inc.

1,214

43,619

Ducommun,

Inc.*

837

39,942

Eve

Holding,

Inc.*

1,130

6,272

Kaman

Corp.

1,758

80,534

Kratos

Defense

&

Security

Solutions,

Inc.*

8,997

164,105

Leonardo

DRS,

Inc.*

4,289

97,403

Moog,

Inc.,

Class

a

A

1,773

265,861

National

Presto

Industries,

Inc.

322

24,900

Park

Aerospace

Corp.

1,161

17,670

Parsons

Corp.*

2,578

207,813

Redwire

Corp.*(b)

490

1,583

Rocket

Lab

USA,

Inc.*

17,407

79,811

Terran

Orbital

Corp.*(b)

6,174

6,668

Triumph

Group,

Inc.*

4,023

55,920

V2X,

Inc.*

720

27,720

Virgin

Galactic

Holdings,

Inc.*(b)

20,492

35,656

1,594,089

Air

Freight

&

Logistics

—

0.1%

Air

Transport

Services

Group,

Inc.*

3,518

42,462

Forward

Air

Corp.

1,607

59,668

Hub

Group,

Inc.,

Class

a

A*

3,924

166,888

Radiant

Logistics,

Inc.*

2,276

13,201

282,219

Automobile

Components

—

1.0%

Adient

plc*

5,860

198,888

American

Axle

&

Manufacturing

Holdings,

Inc.*

7,129

49,333

Atmus

Filtration

Technologies,

Inc.*

1,025

24,467

Cooper-Standard

Holdings,

Inc.*

1,055

14,833

Dana,

Inc.

8,143

101,787

Dorman

Products,

Inc.*

1,645

154,992

Fox

Factory

Holding

Corp.*

2,664

134,772

Gentherm,

Inc.*

2,047

116,392

Goodyear

Tire

&

Rubber

Co.

(The)*

17,585

208,910

Holley,

Inc.*

3,296

14,140

LCI

Industries

1,543

194,387

Luminar

Technologies,

Inc.,

Class

a

A*(b)

17,005

40,642

Modine

Manufacturing

Co.*

3,214

288,328

Patrick

Industries,

Inc.

1,333

159,880

Solid

Power,

Inc.*(b)

9,673

15,864

Standard

Motor

Products,

Inc.

1,283

40,748

Stoneridge,

Inc.*

1,652

29,026

Visteon

Corp.*

1,723

194,906

XPEL,

Inc.*(c)

1,412

74,243

2,056,538

Investments

Shares

Value

Common

Stocks

(a)

(continued)

Automobiles

—

0.1%

Fisker,

Inc.,

Class

a

A*(b)

13,051

$

9,504

Livewire

Group,

Inc.*(b)

1,201

11,265

Winnebago

Industries,

Inc.

1,813

130,047

Workhorse

Group,

Inc.*(b)

12,884

4,311

155,127

Banks

—

6.4%

1st

Source

Corp.

1,030

51,273

ACNB

Corp.

519

18,290

Amalgamated

Financial

Corp.

1,104

25,480

Amerant

Bancorp,

Inc.,

Class

a

A

1,612

34,158

American

National

Bankshares,

Inc.

642

28,967

Ameris

Bancorp

4,134

191,528

Ames

National

Corp.(b)

538

10,206

Arrow

Financial

Corp.

920

22,062

Associated

Banc-Corp.

9,455

197,042

Atlantic

Union

Bankshares

Corp.

4,692

156,056

Axos

Financial,

Inc.*

3,468

180,752

Banc

of

California,

Inc.

8,199

119,951

BancFirst

Corp.

1,376

120,730

Bancorp,

Inc.

(The)*

3,251

145,125

Bank

First

Corp.(b)

583

50,430

Bank

of

Hawaii

Corp.(b)

2,450

147,686

Bank

of

Marin

Bancorp

983

16,328

Bank

of

NT

Butterfield

&

Son

Ltd.

(The)

3,031

90,597

Bank7

Corp.

233

6,526

BankUnited,

Inc.

4,646

124,606

Bankwell

Financial

Group,

Inc.

368

9,373

Banner

Corp.

2,138

93,730

Bar

Harbor

Bankshares

933

23,530

BayCom

Corp.

699

13,994

BCB

Bancorp,

Inc.

941

9,871

Berkshire

Hills

Bancorp,

Inc.

2,715

58,345

Blue

Foundry

Bancorp*

1,413

13,310

Blue

Ridge

Bankshares,

Inc.

1,113

2,727

Bridgewater

Bancshares,

Inc.*

1,276

15,121

Brookline

Bancorp,

Inc.

5,448

53,227

Burke

&

Herbert

Financial

Services

Corp.(b)

402

21,981

Business

First

Bancshares,

Inc.

1,499

33,653

Byline

Bancorp,

Inc.

1,546

32,219

C&F

Financial

Corp.

200

10,686

Cadence

Bank

11,383

315,081

Cambridge

Bancorp

475

30,049

Camden

National

Corp.

892

28,348

Capital

Bancorp,

Inc.

594

12,230

Capital

City

Bank

Group,

Inc.

824

23,360

Capitol

Federal

Financial,

Inc.

7,973

46,164

Capstar

Financial

Holdings,

Inc.

1,193

22,369

Carter

Bankshares,

Inc.*

1,417

18,704

Cathay

General

Bancorp

4,343

169,594

Central

Pacific

Financial

Corp.

1,659

30,957

Central

Valley

Community

Bancorp

623

11,644

Chemung

Financial

Corp.

219

9,329

FEBRUARY

29,

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RUSSELL2000

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PROSHARES

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UWM

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Investments

Shares

Value

Common

Stocks

(a)

(continued)

ChoiceOne

Financial

Services,

Inc.(b)

436

$

11,602

Citizens

&

Northern

Corp.

934

17,148

Citizens

Financial

Services,

Inc.

236

11,033

City

Holding

Co.

928

93,245

Civista

Bancshares,

Inc.

965

14,494

CNB

Financial

Corp.

1,282

25,627

Coastal

Financial

Corp.*

676

25,952

Codorus

Valley

Bancorp,

Inc.

582

13,398

Colony

Bankcorp,

Inc.

1,031

11,692

Columbia

Financial,

Inc.*

1,854

31,017

Community

Bank

System,

Inc.

3,327

150,713

Community

Trust

Bancorp,

Inc.

970

38,567

ConnectOne

Bancorp,

Inc.

2,288

45,280

CrossFirst

Bankshares,

Inc.*

2,822

36,319

Customers

Bancorp,

Inc.*

1,787

97,052

CVB

Financial

Corp.

8,311

141,453

Dime

Community

Bancshares,

Inc.

2,184

40,928

Eagle

Bancorp,

Inc.

1,840

43,829

Eastern

Bankshares,

Inc.

9,680

125,066

Enterprise

Bancorp,

Inc.

598

16,206

Enterprise

Financial

Services

Corp.

2,266

90,459

Equity

Bancshares,

Inc.,

Class

a

A

913

29,061

Esquire

Financial

Holdings,

Inc.

429

21,785

ESSA

Bancorp,

Inc.

542

9,409

Evans

Bancorp,

Inc.

326

9,682

Farmers

&

Merchants

Bancorp,

Inc.

793

16,019

Farmers

National

Banc

Corp.

2,274

30,654

FB

Financial

Corp.

2,216

78,978

Fidelity

D&D

Bancorp,

Inc.(b)

291

14,533

Financial

Institutions,

Inc.

948

17,405

First

Bancorp(b)

10,742

182,399

First

Bancorp

2,485

84,788

First

Bancorp,

Inc.

(The)

611

14,432

First

Bancshares,

Inc.

(The)

1,916

47,574

First

Bank

1,273

17,071

First

Busey

Corp.

3,243

74,784

First

Business

Financial

Services,

Inc.

491

17,323

First

Commonwealth

Financial

Corp.

6,393

83,301

First

Community

Bankshares,

Inc.

1,072

35,526

First

Community

Corp.

460

7,558

First

Financial

Bancorp

5,884

127,683

First

Financial

Bankshares,

Inc.

8,142

251,913

First

Financial

Corp.

715

26,619

First

Foundation,

Inc.

3,196

25,344

First

Interstate

BancSystem,

Inc.,

Class

a

A

5,160

135,811

First

Merchants

Corp.

3,693

122,608

First

Mid

Bancshares,

Inc.

1,390

42,117

First

of

Long

Island

Corp.

(The)

1,331

14,827

First

Western

Financial,

Inc.*

500

7,075

Five

Star

Bancorp

798

18,937

Flushing

Financial

Corp.

1,730

22,213

FS

Bancorp,

Inc.

413

13,782

Fulton

Financial

Corp.

10,039

154,601

Investments

Shares

Value

Common

Stocks

(a)

(continued)

FVCBankcorp,

Inc.*

1,000

$

12,110

German

American

Bancorp,

Inc.

1,751

55,086

Glacier

Bancorp,

Inc.

6,967

260,705

Great

Southern

Bancorp,

Inc.

553

28,833

Greene

County

Bancorp,

Inc.

436

12,452

Guaranty

Bancshares,

Inc.

511

14,696

Hancock

Whitney

Corp.

5,420

236,312

Hanmi

Financial

Corp.

1,901

28,724

HarborOne

Bancorp,

Inc.

2,562

26,081

HBT

Financial,

Inc.

830

15,820

Heartland

Financial

USA,

Inc.

2,640

89,760

Heritage

Commerce

Corp.

3,699

30,665

Heritage

Financial

Corp.

2,167

39,764

Hilltop

Holdings,

Inc.

2,917

90,077

Hingham

Institution

For

Savings

(The)(b)

92

15,454

Home

Bancorp,

Inc.

448

16,464

Home

BancShares,

Inc.

11,916

279,549

HomeStreet,

Inc.

1,130

15,764

HomeTrust

Bancshares,

Inc.

918

24,098

Hope

Bancorp,

Inc.

7,208

79,072

Horizon

Bancorp,

Inc.

2,694

32,436

Independent

Bank

Corp.

1,244

30,416

Independent

Bank

Corp.

2,760

143,989

Independent

Bank

Group,

Inc.

2,259

98,786

International

Bancshares

Corp.

3,355

174,091

John

Marshall

Bancorp,

Inc.

777

13,598

Kearny

Financial

Corp.

3,498

22,247

Lakeland

Bancorp,

Inc.

3,895

45,494

Lakeland

Financial

Corp.

1,550

98,735

LCNB

Corp.

660

9,293

Live

Oak

Bancshares,

Inc.

2,101

83,452

Macatawa

Bank

Corp.

1,643

16,101

MainStreet

Bancshares,

Inc.

435

7,837

Mercantile

Bank

Corp.

979

36,066

Metrocity

Bankshares,

Inc.

1,140

27,702

Metropolitan

Bank

Holding

Corp.*

646

25,330

Mid

Penn

Bancorp,

Inc.

888

18,675

Middlefield

Banc

Corp.(b)

491

12,049

Midland

States

Bancorp,

Inc.

1,298

31,606

MidWestOne

Financial

Group,

Inc.

888

20,353

MVB

Financial

Corp.

709

15,180

National

Bank

Holdings

Corp.,

Class

a

A

2,300

77,832

National

Bankshares,

Inc.(b)

361

11,288

NBT

Bancorp,

Inc.

2,862

98,424

Nicolet

Bankshares,

Inc.

804

63,460

Northeast

Bank

420

22,424

Northeast

Community

Bancorp,

Inc.

792

12,347

Northfield

Bancorp,

Inc.

2,504

25,290

Northrim

Bancorp,

Inc.

336

16,709

Northwest

Bancshares,

Inc.

7,959

91,210

Norwood

Financial

Corp.(b)

454

12,535

Oak

Valley

Bancorp

420

10,471

OceanFirst

Financial

Corp.

3,638

55,298

OFG

Bancorp

2,883

104,422

Old

National

Bancorp

18,302

300,702

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Investments

Shares

Value

Common

Stocks

(a)

(continued)

Old

Second

Bancorp,

Inc.

2,710

$

36,395

Orange

County

Bancorp,

Inc.

319

14,668

Origin

Bancorp,

Inc.

1,823

54,398

Orrstown

Financial

Services,

Inc.

639

17,221

Pacific

Premier

Bancorp,

Inc.

5,927

135,491

Park

National

Corp.

895

115,016

Parke

Bancorp,

Inc.

653

11,264

Pathward

Financial,

Inc.

1,629

82,818

PCB

Bancorp

680

10,982

Peapack-Gladstone

Financial

Corp.

1,054

25,538

Penns

Woods

Bancorp,

Inc.

428

8,278

Peoples

Bancorp,

Inc.

2,179

61,165

Peoples

Financial

Services

Corp.

428

17,270

Pioneer

Bancorp,

Inc.*

728

6,785

Plumas

Bancorp

341

11,880

Ponce

Financial

Group,

Inc.*

1,215

10,716

Preferred

Bank

808

58,055

Premier

Financial

Corp.

2,208

42,791

Primis

Financial

Corp.

1,265

15,623

Princeton

Bancorp,

Inc.

317

9,757

Provident

Financial

Services,

Inc.

4,586

69,157

QCR

Holdings,

Inc.

1,030

58,710

RBB

Bancorp

1,047

18,029

Red

River

Bancshares,

Inc.

300

14,940

Renasant

Corp.

3,448

108,991

Republic

Bancorp,

Inc.,

Class

a

A

531

26,157

S&T

Bancorp,

Inc.

2,381

74,263

Sandy

Spring

Bancorp,

Inc.

2,739

60,203

Seacoast

Banking

Corp.

of

Florida

5,262

127,025

ServisFirst

Bancshares,

Inc.

3,182

201,071

Shore

Bancshares,

Inc.

1,861

21,141

Sierra

Bancorp

841

15,651

Simmons

First

National

Corp.,

Class

a

A

7,754

148,877

SmartFinancial,

Inc.

990

21,305

South

Plains

Financial,

Inc.

731

19,503

Southern

First

Bancshares,

Inc.*

479

15,783

Southern

Missouri

Bancorp,

Inc.

592

25,385

Southern

States

Bancshares,

Inc.

474

11,784

Southside

Bancshares,

Inc.

1,793

51,387

SouthState

Corp.

4,756

399,694

Stellar

Bancorp,

Inc.

3,040

72,048

Sterling

Bancorp,

Inc.*

1,358

6,844

Stock

Yards

Bancorp,

Inc.

1,695

77,648

Summit

Financial

Group,

Inc.

702

18,940

Texas

Capital

Bancshares,

Inc.*

2,991

175,422

Third

Coast

Bancshares,

Inc.*

804

15,413

Timberland

Bancorp,

Inc.

463

12,131

Tompkins

Financial

Corp.

865

41,658

Towne

Bank

4,380

118,742

TriCo

Bancshares

1,941

64,849

Triumph

Financial,

Inc.*

1,388

104,100

TrustCo

Bank

Corp.

1,162

31,711

Trustmark

Corp.

3,800

102,068

UMB

Financial

Corp.

2,766

225,733

Investments

Shares

Value

Common

Stocks

(a)

(continued)

United

Bankshares,

Inc.

8,174

$

283,556

United

Community

Banks,

Inc.

7,221

187,818

Unity

Bancorp,

Inc.

450

12,321

Univest

Financial

Corp.

1,812

36,276

USCB

Financial

Holdings,

Inc.

656

7,164

Valley

National

Bancorp

26,965

220,843

Veritex

Holdings,

Inc.

3,276

64,308

Virginia

National

Bankshares

Corp.

295

8,974

WaFd,

Inc.

4,261

116,070

Washington

Trust

Bancorp,

Inc.

1,056

27,181

WesBanco,

Inc.

3,604

104,444

West

Bancorp,

Inc.

1,013

17,626

Westamerica

Bancorp

1,618

73,959

WSFS

Financial

Corp.

3,824

162,099

13,546,728

Beverages

—

0.3%

Coca-Cola

Consolidated,

Inc.

298

250,558

Duckhorn

Portfolio,

Inc.

(The)*

2,741

26,067

MGP

Ingredients,

Inc.

991

84,413

National

Beverage

Corp.*

1,481

77,960

Primo

Water

Corp.

9,774

158,437

Vita

Coco

Co.,

Inc.

(The)*

1,784

46,562

Zevia

PBC,

Class

a

A*

1,580

2,370

646,367

Biotechnology

—

6.1%

2seventy

bio,

Inc.*(b)

3,134

16,297

4D

Molecular

Therapeutics,

Inc.*

2,494

69,882

89bio,

Inc.*

3,991

45,777

Aadi

Bioscience,

Inc.*

1,012

1,994

ACADIA

Pharmaceuticals,

Inc.*

7,558

175,648

ACELYRIN,

Inc.*

2,065

17,449

Acrivon

Therapeutics,

Inc.*

542

2,634

Actinium

Pharmaceuticals,

Inc.*

1,703

14,527

Adicet

Bio,

Inc.*

1,895

4,453

ADMA

Biologics,

Inc.*

13,304

71,309

Aerovate

Therapeutics,

Inc.*(b)

698

16,110

Agenus,

Inc.*

23,774

15,929

Agios

Pharmaceuticals,

Inc.*

3,467

112,053

Akero

Therapeutics,

Inc.*

3,203

86,449

Aldeyra

Therapeutics,

Inc.*

2,906

10,520

Alector,

Inc.*

3,961

27,608

Alkermes

plc*

10,354

307,410

Allakos,

Inc.*

4,148

6,139

Allogene

Therapeutics,

Inc.*

5,897

28,954

Allovir,

Inc.*

3,176

2,339

Alpine

Immune

Sciences,

Inc.*

2,032

71,567

Altimmune,

Inc.*

3,295

39,870

ALX

Oncology

Holdings,

Inc.*

1,683

24,690

Amicus

Therapeutics,

Inc.*

17,736

227,376

AnaptysBio,

Inc.*

1,169

29,845

Anavex

Life

Sciences

Corp.*(b)

4,512

23,192

Anika

Therapeutics,

Inc.*

914

22,192

Annexon,

Inc.*

2,848

15,863

Apogee

Therapeutics,

Inc.*(b)

1,281

44,604

Arbutus

Biopharma

Corp.*

7,907

22,140

Arcellx,

Inc.*

2,394

157,573

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

RUSSELL2000

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

63

UWM

::

Investments

Shares

Value

Common

Stocks

(a)

(continued)

Arcturus

Therapeutics

Holdings,

Inc.*

1,456

$

56,435

Arcus

Biosciences,

Inc.*

3,357

64,219

Arcutis

Biotherapeutics,

Inc.*(b)

4,936

50,742

Ardelyx,

Inc.*

14,389

134,106

Arrowhead

Pharmaceuticals,

Inc.*

7,229

232,051

ARS

Pharmaceuticals,

Inc.*

1,532

12,823

Astria

Therapeutics,

Inc.*

2,065

29,364

Atara

Biotherapeutics,

Inc.*

6,044

4,702

Aura

Biosciences,

Inc.*

1,732

15,709

Aurinia

Pharmaceuticals,

Inc.*

8,452

48,345

Avid

Bioservices,

Inc.*

3,873

29,745

Avidity

Biosciences,

Inc.*

4,617

84,491

Avita

Medical,

Inc.*

1,569

28,446

Beam

Therapeutics,

Inc.*

4,524

178,653

BioAtla,

Inc.*

2,759

7,449

BioCryst

Pharmaceuticals,

Inc.*

11,830

66,603

Biohaven

Ltd.*

4,270

205,558

Biomea

Fusion,

Inc.*(b)

1,240

21,700

BioVie,

Inc.,

Class

a

A*(b)

754

935

Bioxcel

Therapeutics,

Inc.*(b)

1,265

4,023

Bluebird

Bio,

Inc.*

6,678

9,282

Blueprint

Medicines

Corp.*

3,796

355,002

Bridgebio

Pharma,

Inc.*

7,147

244,070

Cabaletta

Bio,

Inc.*

2,150

49,192

CareDx,

Inc.*

3,249

34,569

Caribou

Biosciences,

Inc.*

5,110

40,420

Carisma

Therapeutics,

Inc.(b)

1,664

4,293

Cartesian

Therapeutics,

Inc.*(b)

7,331

5,363

Catalyst

Pharmaceuticals,

Inc.*

6,268

100,476

Celcuity,

Inc.*(b)

1,089

16,945

Celldex

Therapeutics,

Inc.*

2,900

139,374

Century

Therapeutics,

Inc.*

1,462

5,366

Cerevel

Therapeutics

Holdings,

Inc.*

4,363

178,883

Cogent

Biosciences,

Inc.*

5,184

36,288

Coherus

Biosciences,

Inc.*

6,228

14,200

Compass

Therapeutics,

Inc.*

5,694

10,135

Crinetics

Pharmaceuticals,

Inc.*

4,075

166,831

Cue

Biopharma,

Inc.*(b)

2,245

4,658

Cullinan

Oncology,

Inc.*

1,614

29,811

Cytokinetics,

Inc.*

5,813

419,931

Day

One

Biopharmaceuticals,

Inc.*

3,910

65,414

Deciphera

Pharmaceuticals,

Inc.*

3,336

55,678

Denali

Therapeutics,

Inc.*

7,370

145,779

Design

Therapeutics,

Inc.*

2,045

5,685

Disc

Medicine,

Inc.*

558

38,318

Dynavax

Technologies

Corp.*

8,089

102,488

Dyne

Therapeutics,

Inc.*

2,774

74,621

Eagle

Pharmaceuticals,

Inc.*

646

3,786

Editas

Medicine,

Inc.*

5,134

51,648

Emergent

BioSolutions,

Inc.*

3,245

10,481

Enanta

Pharmaceuticals,

Inc.*

1,249

17,948

Entrada

Therapeutics,

Inc.*(b)

1,336

17,675

Erasca,

Inc.*

5,036

11,986

Fate

Therapeutics,

Inc.*

5,289

37,499

Fennec

Pharmaceuticals,

Inc.*

1,132

10,720

Investments

Shares

Value

Common

Stocks

(a)

(continued)

FibroGen,

Inc.*

5,762

$

9,853

Foghorn

Therapeutics,

Inc.*(b)

1,268

9,802

Genelux

Corp.*(b)

1,158

8,453

Generation

Bio

Co.*

2,826

7,093

Geron

Corp.*

31,975

63,950

Graphite

Bio,

Inc.*

1,748

5,926

Gritstone

bio,

Inc.*(b)

5,476

15,333

Halozyme

Therapeutics,

Inc.*

8,098

322,381

Heron

Therapeutics,

Inc.*(b)

6,462

17,189

HilleVax,

Inc.*(b)

1,636

29,693

Humacyte,

Inc.*

3,821

16,621

Ideaya

Biosciences,

Inc.*

3,756

167,893

IGM

Biosciences,

Inc.*(b)

829

10,470

Immuneering

Corp.,

Class

a

A*

1,397

8,661

ImmunityBio,

Inc.*(b)

8,275

39,141

Immunovant,

Inc.*

3,368

119,126

Inhibrx,

Inc.*

2,144

78,535

Inozyme

Pharma,

Inc.*(b)

2,979

18,946

Insmed,

Inc.*

8,627

239,140

Intellia

Therapeutics,

Inc.*

5,507

176,885

Iovance

Biotherapeutics,

Inc.*

14,316

227,768

Ironwood

Pharmaceuticals,

Inc.,

Class

a

A*

8,652

81,588

iTeos

Therapeutics,

Inc.*

1,547

16,568

Janux

Therapeutics,

Inc.*(b)

1,080

52,250

KalVista

Pharmaceuticals,

Inc.*

1,933

26,385

Karyopharm

Therapeutics,

Inc.*(b)

7,068

8,199

Keros

Therapeutics,

Inc.*

1,405

94,838

Kezar

Life

Sciences,

Inc.*

4,453

4,676

Kiniksa

Pharmaceuticals

Ltd.,

Class

a

A*

1,958

41,392

Kodiak

Sciences,

Inc.*

2,023

12,158

Krystal

Biotech,

Inc.*

1,349

215,125

Kura

Oncology,

Inc.*

4,404

92,836

Kymera

Therapeutics,

Inc.*

2,371

101,242

Larimar

Therapeutics,

Inc.*

1,600

18,400

Lexicon

Pharmaceuticals,

Inc.*(b)

5,781

14,395

Lineage

Cell

Therapeutics,

Inc.*(b)

8,281

8,612

Lyell

Immunopharma,

Inc.*

10,830

31,624

MacroGenics,

Inc.*

3,798

68,136

Madrigal

Pharmaceuticals,

Inc.*

924

218,249

MannKind

Corp.*

16,277

66,898

MeiraGTx

Holdings

plc*

2,035

12,556

Merrimack

Pharmaceuticals,

Inc.*

653

9,599

Mersana

Therapeutics,

Inc.*

6,918

37,634

MiMedx

Group,

Inc.*

7,203

58,776

Mineralys

Therapeutics,

Inc.*(b)

1,212

18,641

Mirum

Pharmaceuticals,

Inc.*

1,545

44,357

Monte

Rosa

Therapeutics,

Inc.*(b)

1,903

12,046

Morphic

Holding,

Inc.*

2,293

84,726

Mural

Oncology

plc*

1,035

5,475

Myriad

Genetics,

Inc.*

5,042

105,529

Nkarta,

Inc.*(b)

1,887

22,795

Novavax,

Inc.*(b)

5,944

29,363

Nurix

Therapeutics,

Inc.*

2,972

36,704

Nuvalent,

Inc.,

Class

a

A*

1,659

139,555

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Common

Stocks

(a)

(continued)

Nuvectis

Pharma,

Inc.*(b)

463

$

4,570

Ocean

Biomedical,

Inc.*(b)

540

950

Olema

Pharmaceuticals,

Inc.*

1,677

20,795

Omega

Therapeutics,

Inc.*(b)

1,520

6,247

Organogenesis

Holdings,

Inc.,

Class

a

A*

4,383

15,647

ORIC

Pharmaceuticals,

Inc.*(b)

2,436

31,035

Outlook

Therapeutics,

Inc.*(b)

9,814

4,287

Ovid

therapeutics,

Inc.*

3,721

12,651

PDS

Biotechnology

Corp.*(b)

1,740

11,467

PepGen,

Inc.*

627

10,628

PMV

Pharmaceuticals,

Inc.*

2,406

4,451

Poseida

Therapeutics,

Inc.,

Class

a

A*

4,242

16,798

Precigen,

Inc.*(b)

8,432

12,985

Prelude

Therapeutics,

Inc.*

929

3,995

Prime

Medicine,

Inc.*(b)

2,465

21,273

ProKidney

Corp.,

Class

a

A*(b)

2,807

4,575

Protagonist

Therapeutics,

Inc.*

3,565

108,305

Protalix

BioTherapeutics,

Inc.*(b)

4,140

6,748

Prothena

Corp.

plc*

2,634

72,672

PTC

Therapeutics,

Inc.*

4,497

126,770

Rallybio

Corp.*(b)

1,907

4,434

RAPT

Therapeutics,

Inc.*(b)

1,844

15,803

Recursion

Pharmaceuticals,

Inc.,

Class

a

A*

8,517

114,639

REGENXBIO,

Inc.*

2,565

44,734

Relay

Therapeutics,

Inc.*

5,635

56,463

Reneo

Pharmaceuticals,

Inc.*(b)

808

1,333

Replimune

Group,

Inc.*

3,086

26,478

REVOLUTION

Medicines,

Inc.*

8,977

264,642

Rhythm

Pharmaceuticals,

Inc.*

3,207

139,248

Rigel

Pharmaceuticals,

Inc.*

10,680

16,234

Rocket

Pharmaceuticals,

Inc.*

3,916

114,739

Sage

Therapeutics,

Inc.*

3,299

70,863

Sagimet

Biosciences,

Inc.,

Class

a

A*(b)

347

2,127

Sana

Biotechnology,

Inc.*

5,989

60,130

Sangamo

Therapeutics,

Inc.*(b)

9,390

10,892

Savara,

Inc.*

5,638

28,472

Scholar

Rock

Holding

Corp.*

3,462

53,661

Seres

Therapeutics,

Inc.*

6,070

6,920

SpringWorks

Therapeutics,

Inc.*

4,188

206,301

Stoke

Therapeutics,

Inc.*

1,721

13,321

Summit

Therapeutics,

Inc.*(b)

7,231

32,829

Sutro

Biopharma,

Inc.*

3,753

18,427

Syndax

Pharmaceuticals,

Inc.*

4,171

97,768

Tango

Therapeutics,

Inc.*

2,787

31,019

Tenaya

Therapeutics,

Inc.*

2,899

17,249

TG

Therapeutics,

Inc.*

8,654

149,022

Travere

Therapeutics,

Inc.*

4,547

34,375

Turnstone

Biologics

Corp.*(b)

410

1,870

Twist

Bioscience

Corp.*

3,553

139,597

Tyra

Biosciences,

Inc.*(b)

872

17,431

UroGen

Pharma

Ltd.*

1,698

31,124

Vanda

Pharmaceuticals,

Inc.*

3,525

15,757

Vaxcyte,

Inc.*

6,538

482,635

Vaxxinity,

Inc.,

Class

a

A*(b)

2,659

2,273

Vera

Therapeutics,

Inc.,

Class

a

A*

2,112

99,433

Investments

Shares

Value

Common

Stocks

(a)

(continued)

Veracyte,

Inc.*

4,544

$

107,011

Vericel

Corp.*

2,973

135,807

Verve

Therapeutics,

Inc.*

3,258

55,549

Vigil

Neuroscience,

Inc.*(b)

1,002

3,487

Viking

Therapeutics,

Inc.*

6,001

462,377

Vir

Biotechnology,

Inc.*

5,224

58,718

Viridian

Therapeutics,

Inc.*

2,668

49,918

Vor

BioPharma,

Inc.*(b)

2,351

5,407

Voyager

Therapeutics,

Inc.*

1,982

16,490

X4

Pharmaceuticals,

Inc.*

7,683

7,457

Xencor,

Inc.*

3,618

83,033

XOMA

Corp.*

457

11,110

Y-mAbs

Therapeutics,

Inc.*(b)

2,296

38,343

Zentalis

Pharmaceuticals,

Inc.*

3,635

54,198

Zura

Bio

Ltd.,

Class

a

A*

1,063

3,912

Zymeworks,

Inc.*

3,386

40,666

12,940,068

Broadline

Retail

—

0.1%

Big

Lots,

Inc.

1,776

9,626

ContextLogic,

Inc.,

Class

a

A*

1,402

9,113

Dillard's,

Inc.,

Class

a

A

217

89,997

Qurate

Retail,

Inc.,

Class

a

B*

83

458

Savers

Value

Village,

Inc.*

1,618

32,748

141,942

Building

Products

—

1.6%

AAON,

Inc.

4,232

355,403

American

Woodmark

Corp.*

1,024

102,646

Apogee

Enterprises,

Inc.

1,380

78,950

AZZ,

Inc.

1,550

112,840

CSW

Industrials,

Inc.

962

221,635

Gibraltar

Industries,

Inc.*

1,909

147,852

Griffon

Corp.

2,617

186,854

Insteel

Industries,

Inc.

1,169

42,563

Janus

International

Group,

Inc.*

5,303

76,098

JELD-WEN

Holding,

Inc.*

5,316

96,751

Masonite

International

Corp.*

1,388

180,773

Masterbrand,

Inc.*

8,101

140,228

PGT

Innovations,

Inc.*

3,542

147,949

Quanex

Building

Products

Corp.

2,062

71,304

Resideo

Technologies,

Inc.*

9,148

204,275

Simpson

Manufacturing

Co.,

Inc.

2,682

559,680

UFP

Industries,

Inc.

3,751

429,977

Zurn

Elkay

Water

Solutions

Corp.

9,242

293,434

3,449,212

Capital

Markets

—

1.1%

AlTi

Global,

Inc.*(b)

1,425

8,350

Artisan

Partners

Asset

Management,

Inc.,

Class

a

A

3,837

165,260

AssetMark

Financial

Holdings,

Inc.*

1,372

48,500

B

Riley

Financial,

Inc.(b)

1,273

23,334

Bakkt

Holdings,

Inc.*(b)

4,443

2,577

BGC

Group,

Inc.,

Class

a

A

22,363

155,423

BlackRock

Capital

Investment

Corp.

2

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Common

Stocks

(a)

(continued)

Brightsphere

Investment

Group,

Inc.

2,034

$

46,090

Cohen

&

Steers,

Inc.

1,624

119,445

Diamond

Hill

Investment

Group,

Inc.

171

24,740

Donnelley

Financial

Solutions,

Inc.*

1,545

99,745

Forge

Global

Holdings,

Inc.*(b)

6,858

14,265

GCM

Grosvenor,

Inc.,

Class

a

A

2,589

21,929

Hamilton

Lane,

Inc.,

Class

a

A

2,282

262,088

Hercules

Capital,

Inc.

6

108

MarketWise,

Inc.

2,012

3,642

Moelis

&

Co.,

Class

a

A

4,173

225,509

Open

Lending

Corp.*

6,214

45,114

P10,

Inc.,

Class

a

A

2,728

25,289

Patria

Investments

Ltd.,

Class

a

A

3,395

50,585

Perella

Weinberg

Partners,

Class

a

A

2,626

35,871

Piper

Sandler

Cos.

1,083

203,896

PJT

Partners,

Inc.,

Class

a

A

1,484

156,414

Prospect

Capital

Corp.

3

17

Silvercrest

Asset

Management

Group,

Inc.,

Class

a

A

589

9,878

StepStone

Group,

Inc.,

Class

a

A

3,369

117,005

StoneX

Group,

Inc.*

1,674

115,941

Value

Line,

Inc.

53

2,284

Victory

Capital

Holdings,

Inc.,

Class

a

A

1,674

64,332

Virtus

Investment

Partners,

Inc.

433

100,595

WisdomTree,

Inc.

8,618

69,461

2,217,694

Chemicals

—

1.5%

AdvanSix,

Inc.

1,628

45,551

American

Vanguard

Corp.

1,686

18,074

Arcadium

Lithium

plc*

63,737

349,916

Aspen

Aerogels,

Inc.*

3,190

54,804

Avient

Corp.

5,649

228,672

Balchem

Corp.

1,998

314,066

Cabot

Corp.

3,460

293,927

Core

Molding

Technologies,

Inc.*

457

8,395

Danimer

Scientific,

Inc.,

Class

a

A*(b)

5,476

7,338

Ecovyst,

Inc.*

5,779

55,767

Hawkins,

Inc.

1,209

84,932

HB

Fuller

Co.

3,379

268,732

Ingevity

Corp.*

2,283

104,287

Innospec,

Inc.

1,558

193,613

Intrepid

Potash,

Inc.*

663

13,976

Koppers

Holdings,

Inc.

1,259

71,285

Kronos

Worldwide,

Inc.

1,378

12,526

LSB

Industries,

Inc.*

3,352

24,671

Mativ

Holdings,

Inc.

3,404

59,127

Minerals

Technologies,

Inc.

2,032

147,036

Origin

Materials,

Inc.*(b)

7,295

4,330

Orion

SA

3,459

77,966

Perimeter

Solutions

SA*

9,530

57,942

PureCycle

Technologies,

Inc.*(b)

7,252

41,989

Quaker

Chemical

Corp.

868

174,034

Investments

Shares

Value

Common

Stocks

(a)

(continued)

Rayonier

Advanced

Materials,

Inc.*

3,980

$

13,492

Sensient

Technologies

Corp.

2,629

175,828

Stepan

Co.

1,331

118,725

Trinseo

plc

2,185

9,833

Tronox

Holdings

plc

7,312

107,486

Valhi,

Inc.

151

2,058

3,140,378

Commercial

Services

&

Supplies

—

1.2%

ABM

Industries,

Inc.

4,137

170,899

ACCO

Brands

Corp.

5,767

32,180

ACV

Auctions,

Inc.,

Class

a

A*

7,935

140,846

Aris

Water

Solutions,

Inc.,

Class

a

A

1,865

22,455

BrightView

Holdings,

Inc.*

2,582

22,489

Brink's

Co.

(The)

2,883

238,799

Casella

Waste

Systems,

Inc.,

Class

a

A*

3,526

317,693

CECO

Environmental

Corp.*

1,854

41,993

Cimpress

plc*

1,124

110,163

CompX

International,

Inc.

95

2,214

CoreCivic,

Inc.*

7,101

108,148

Deluxe

Corp.

2,718

52,756

Ennis,

Inc.

1,591

32,329

Enviri

Corp.*

4,927

38,726

GEO

Group,

Inc.

(The)*

7,523

92,307

Healthcare

Services

Group,

Inc.*

4,647

59,296

HNI

Corp.

2,885

129,277

Interface,

Inc.,

Class

a

A

3,580

56,278

LanzaTech

Global,

Inc.*(b)

1,288

4,147

Li-Cycle

Holdings

Corp.*(b)

8,702

3,133

Liquidity

Services,

Inc.*

1,438

25,783

Matthews

International

Corp.,

Class

a

A

1,855

53,684

MillerKnoll,

Inc.

4,609

140,805

Montrose

Environmental

Group,

Inc.*

1,742

72,084

NL

Industries,

Inc.

524

2,672

OPENLANE,

Inc.*

6,741

102,935

Performant

Financial

Corp.*

4,199

12,219

Pitney

Bowes,

Inc.

10,958

44,161

Quad/Graphics,

Inc.

1,912

11,453

SP

Plus

Corp.*

1,221

62,772

Steelcase,

Inc.,

Class

a

A

5,786

79,500

UniFirst

Corp.

937

158,091

Viad

Corp.*

1,271

47,319

VSE

Corp.

817

60,540

2,550,146

Communications

Equipment

—

0.4%

ADTRAN

Holdings,

Inc.

4,869

27,705

Aviat

Networks,

Inc.*

711

25,233

Calix,

Inc.*

3,683

128,426

Cambium

Networks

Corp.*

758

3,222

Clearfield,

Inc.*(b)

817

24,649

CommScope

Holding

Co.,

Inc.*

13,075

15,232

Comtech

Telecommunications

Corp.*

1,703

11,512

Digi

International,

Inc.*

2,195

64,884

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Common

Stocks

(a)

(continued)

DZS,

Inc.*(b)

1,359

$

1,998

Extreme

Networks,

Inc.*

7,876

99,553

Harmonic,

Inc.*

6,877

90,295

Infinera

Corp.*

12,455

62,524

KVH

Industries,

Inc.*

1,171

5,562

NETGEAR,

Inc.*

1,805

27,057

NetScout

Systems,

Inc.*

4,331

93,766

Ribbon

Communications,

Inc.*

5,544

16,577

Viavi

Solutions,

Inc.*

13,818

131,962

830,157

Construction

&

Engineering

—

1.4%

Ameresco,

Inc.,

Class

a

A*

2,008

42,088

API

Group

Corp.*

13,065

457,928

Arcosa,

Inc.

3,030

251,490

Argan,

Inc.

791

37,066

Bowman

Consulting

Group

Ltd.,

Class

a

A*

674

21,952

Comfort

Systems

USA,

Inc.

2,211

675,969

Concrete

Pumping

Holdings,

Inc.*

1,598

13,088

Construction

Partners,

Inc.,

Class

a

A*

2,509

120,633

Dycom

Industries,

Inc.*

1,790

226,417

Fluor

Corp.*

8,908

327,814

Granite

Construction,

Inc.

2,755

141,965

Great

Lakes

Dredge

&

Dock

Corp.*

4,094

36,600

IES

Holdings,

Inc.*

511

56,169

INNOVATE

Corp.*(b)

3,387

2,657

Limbach

Holdings,

Inc.*

574

28,264

MYR

Group,

Inc.*

1,026

166,684

Northwest

Pipe

Co.*

614

18,316

Primoris

Services

Corp.

3,316

131,015

Southland

Holdings,

Inc.*(b)

252

1,149

Sterling

Infrastructure,

Inc.*

1,870

199,417

Tutor

Perini

Corp.*

2,651

30,036

2,986,717

Construction

Materials

—

0.3%

Knife

River

Corp.*

3,534

261,834

Summit

Materials,

Inc.,

Class

a

A*

7,461

318,659

United

States

Lime

&

Minerals,

Inc.

129

32,893

613,386

Consumer

Finance

—

0.6%

Atlanticus

Holdings

Corp.*

287

9,514

Bread

Financial

Holdings,

Inc.

3,103

118,783

Consumer

Portfolio

Services,

Inc.*(b)

533

4,706

Encore

Capital

Group,

Inc.*

1,451

69,648

Enova

International,

Inc.*

1,817

114,925

FirstCash

Holdings,

Inc.

2,353

269,419

Green

Dot

Corp.,

Class

a

A*

2,901

23,817

LendingClub

Corp.*

6,780

54,986

LendingTree,

Inc.*

664

26,275

Navient

Corp.

5,373

87,365

Nelnet,

Inc.,

Class

a

A

806

69,211

NerdWallet,

Inc.,

Class

a

A*

2,110

35,596

Investments

Shares

Value

Common

Stocks

(a)

(continued)

OppFi,

Inc.*(b)

671

$

2,362

PRA

Group,

Inc.*

2,412

61,651

PROG

Holdings,

Inc.*

2,767

85,417

Regional

Management

Corp.

502

11,747

Upstart

Holdings,

Inc.*(b)

4,571

117,703

World

Acceptance

Corp.*

253

30,299

1,193,424

Consumer

Staples

Distribution

&

Retail

—

0.5%

Andersons,

Inc.

(The)

2,008

111,002

Chefs'

Warehouse,

Inc.

(The)*

2,199

83,584

HF

Foods

Group,

Inc.*

2,514

9,453

Ingles

Markets,

Inc.,

Class

a

A

878

67,615

Natural

Grocers

by

Vitamin

Cottage,

Inc.

582

9,644

PriceSmart,

Inc.

1,572

132,268

SpartanNash

Co.

2,155

45,406

Sprouts

Farmers

Market,

Inc.*

6,363

397,306

United

Natural

Foods,

Inc.*

3,651

56,992

Village

Super

Market,

Inc.,

Class

a

A

550

15,042

Weis

Markets,

Inc.

1,029

66,823

995,135

Containers

&

Packaging

—

0.2%

Greif,

Inc.,

Class

a

A

1,519

97,915

Greif,

Inc.,

Class

a

B

323

20,678

Myers

Industries,

Inc.

2,283

43,902

O-I

Glass,

Inc.*

9,704

164,192

Pactiv

Evergreen,

Inc.

2,500

36,875

Ranpak

Holdings

Corp.,

Class

a

A*

2,707

12,858

TriMas

Corp.

2,591

60,889

437,309

Distributors

—

0.0%(d)

Weyco

Group,

Inc.

371

11,961

Diversified

Consumer

Services

—

0.9%

2U,

Inc.*(b)

5,004

2,255

Adtalem

Global

Education,

Inc.*

2,483

122,909

Carriage

Services,

Inc.,

Class

a

A

837

20,774

Chegg,

Inc.*

7,110

63,563

Coursera,

Inc.*

8,130

130,649

Duolingo,

Inc.,

Class

a

A*

1,827

436,653

European

Wax

Center,

Inc.,

Class

a

A*

2,131

30,218

Frontdoor,

Inc.*

5,065

158,838

Graham

Holdings

Co.,

Class

a

B

224

157,322

Laureate

Education,

Inc.

8,182

109,721

Lincoln

Educational

Services

Corp.*

1,478

14,869

Nerdy,

Inc.*

3,904

11,322

OneSpaWorld

Holdings

Ltd.*

5,209

67,925

Perdoceo

Education

Corp.

4,079

72,647

Strategic

Education,

Inc.

1,413

156,546

Stride,

Inc.*

2,648

158,218

Udemy,

Inc.*

5,489

62,026

FEBRUARY

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INVESTMENTS

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Investments

Shares

Value

Common

Stocks

(a)

(continued)

Universal

Technical

Institute,

Inc.*

2,047

$

30,787

WW

International,

Inc.*

3,403

10,617

1,817,859

Diversified

REITs

—

0.4%

Alexander

&

Baldwin,

Inc.,

REIT

4,532

73,690

Alpine

Income

Property

Trust,

Inc.,

REIT

792

12,363

American

Assets

Trust,

Inc.,

REIT

3,048

65,745

Armada

Hoffler

Properties,

Inc.,

REIT

4,207

42,827

Broadstone

Net

Lease,

Inc.,

REIT

11,736

174,984

CTO

Realty

Growth,

Inc.,

REIT

1,399

23,853

Empire

State

Realty

Trust,

Inc.,

Class

a

A,

REIT

8,249

82,243

Essential

Properties

Realty

Trust,

Inc.,

REIT

9,742

232,736

Gladstone

Commercial

Corp.,

REIT

2,482

30,727

Global

Net

Lease,

Inc.,

REIT

12,156

87,645

NexPoint

Diversified

Real

Estate

Trust,

REIT

1,943

12,299

One

Liberty

Properties,

Inc.,

REIT

1,015

20,544

859,656

Diversified

Telecommunication

Services

—

0.3%

Anterix,

Inc.*

804

31,919

AST

SpaceMobile,

Inc.,

Class

a

A*(b)

5,017

15,904

ATN

International,

Inc.

679

22,774

Bandwidth,

Inc.,

Class

a

A*

1,464

30,071

Cogent

Communications

Holdings,

Inc.

2,734

221,208

Consolidated

Communications

Holdings,

Inc.*

4,788

20,636

Globalstar,

Inc.*

43,740

68,234

IDT

Corp.,

Class

a

B*

957

35,610

Liberty

Latin

America

Ltd.,

Class

a

A*

2,196

14,120

Liberty

Latin

America

Ltd.,

Class

a

C*

8,588

55,994

Lumen

Technologies,

Inc.*

62,939

101,961

Ooma,

Inc.*

1,506

15,361

Shenandoah

Telecommunications

Co.

3,034

56,614

690,406

Electric

Utilities

—

0.5%

ALLETE,

Inc.

3,610

204,471

Genie

Energy

Ltd.,

Class

a

B

1,234

22,508

MGE

Energy,

Inc.

2,279

144,010

Otter

Tail

Corp.

2,579

233,296

PNM

Resources,

Inc.

5,355

195,511

Portland

General

Electric

Co.

6,351

255,120

1,054,916

Investments

Shares

Value

Common

Stocks

(a)

(continued)

Electrical

Equipment

—

1.1%

Allient,

Inc.

807

$

22,935

Amprius

Technologies,

Inc.*

341

1,108

Array

Technologies,

Inc.*

9,460

129,034

Atkore,

Inc.

2,367

400,970

Babcock

&

Wilcox

Enterprises,

Inc.*

3,669

4,696

Blink

Charging

Co.*(b)

3,391

10,783

Bloom

Energy

Corp.,

Class

a

A*(b)

12,031

105,512

Dragonfly

Energy

Holdings

Corp.*(b)

1,826

1,198

Encore

Wire

Corp.

940

226,540

Energy

Vault

Holdings,

Inc.*(b)

6,182

10,386

EnerSys

2,577

236,775

Enovix

Corp.*(b)

8,656

84,396

Eos

Energy

Enterprises,

Inc.*(b)

6,716

6,395

ESS

Tech,

Inc.*(b)

5,693

4,945

Fluence

Energy,

Inc.*(b)

3,661

55,977

FTC

Solar,

Inc.*

4,224

2,163

FuelCell

Energy,

Inc.*(b)

28,396

33,791

GrafTech

International

Ltd.

12,101

21,298

LSI

Industries,

Inc.

1,749

25,238

NEXTracker,

Inc.,

Class

a

A*

8,042

452,282

NuScale

Power

Corp.,

Class

a

A*(b)

3,389

10,506

Powell

Industries,

Inc.

572

105,957

Preformed

Line

Products

Co.

155

21,309

SES

AI

Corp.*(b)

7,793

13,794

Shoals

Technologies

Group,

Inc.,

Class

a

A*

10,709

137,396

SKYX

Platforms

Corp.*(b)

3,911

5,045

Stem,

Inc.*(b)

8,892

23,831

SunPower

Corp.*(b)

5,452

16,956

Thermon

Group

Holdings,

Inc.*

2,088

56,981

TPI

Composites,

Inc.*(b)

2,583

7,207

Vicor

Corp.*

1,385

51,577

2,286,981

Electronic

Equipment,

Instruments

&

Components

—

2.1%

908

Devices,

Inc.*

1,369

10,062

Advanced

Energy

Industries,

Inc.

2,349

237,719

Aeva

Technologies,

Inc.*(b)

5,025

5,075

Akoustis

Technologies,

Inc.*(b)

4,363

2,713

Arlo

Technologies,

Inc.*

5,588

58,171

Badger

Meter,

Inc.

1,838

291,672

Bel

Fuse,

Inc.,

Class

a

B

653

33,936

Belden,

Inc.

2,655

226,153

Benchmark

Electronics,

Inc.

2,209

67,838

Climb

Global

Solutions,

Inc.

259

17,604

CTS

Corp.

1,935

86,224

Daktronics,

Inc.*

2,353

20,424

ePlus,

Inc.*

1,660

136,767

Evolv

Technologies

Holdings,

Inc.*(b)

7,122

33,972

Fabrinet*

2,299

495,595

FARO

Technologies,

Inc.*

1,184

26,510

Insight

Enterprises,

Inc.*

1,793

337,084

Iteris,

Inc.*

2,672

13,948

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Common

Stocks

(a)

(continued)

Itron,

Inc.*

2,845

$

263,675

Kimball

Electronics,

Inc.*

1,495

33,653

Knowles

Corp.*

5,613

91,716

Lightwave

Logic,

Inc.*(b)

7,313

30,788

Luna

Innovations,

Inc.*

2,033

13,784

Methode

Electronics,

Inc.

2,129

45,348

MicroVision,

Inc.*(b)

11,778

27,796

Mirion

Technologies,

Inc.,

Class

a

A*

12,512

122,367

Napco

Security

Technologies,

Inc.

2,073

93,347

nLight,

Inc.*

2,796

36,991

Novanta,

Inc.*

2,236

386,694

OSI

Systems,

Inc.*

1,006

131,967

PAR

Technology

Corp.*

1,663

72,873

PC

Connection,

Inc.

715

47,462

Plexus

Corp.*

1,715

161,896

Presto

Automation,

Inc.*

230

72

Richardson

Electronics

Ltd.

756

6,645

Rogers

Corp.*

1,081

121,148

Sanmina

Corp.*

3,531

223,159

ScanSource,

Inc.*

1,543

66,704

SmartRent,

Inc.,

Class

a

A*(b)

11,503

33,359

TTM

Technologies,

Inc.*

6,466

96,020

Vishay

Intertechnology,

Inc.

8,055

175,196

Vishay

Precision

Group,

Inc.*

774

26,742

Vuzix

Corp.*(b)

3,683

6,224

4,417,093

Energy

Equipment

&

Services

—

1.8%

Archrock,

Inc.

8,683

158,638

Atlas

Energy

Solutions,

Inc.,

Class

a

A(b)

1,111

20,953

Borr

Drilling

Ltd.

13,725

82,624

Bristow

Group,

Inc.,

Class

a

A*

1,475

39,751

Cactus,

Inc.,

Class

a

A

4,037

185,298

ChampionX

Corp.

12,230

379,864

Core

Laboratories,

Inc.

2,916

43,653

Diamond

Offshore

Drilling,

Inc.*

6,354

70,466

DMC

Global,

Inc.*

1,219

20,333

Dril-Quip,

Inc.*

2,124

48,002

Expro

Group

Holdings

NV*

5,593

100,059

Forum

Energy

Technologies,

Inc.*

604

12,086

Helix

Energy

Solutions

Group,

Inc.*

8,985

80,865

Helmerich

&

Payne,

Inc.

6,081

233,450

KLX

Energy

Services

Holdings,

Inc.*

791

6,423

Kodiak

Gas

Services,

Inc.

990

25,245

Liberty

Energy,

Inc.,

Class

a

A

10,264

219,444

Mammoth

Energy

Services,

Inc.*(b)

1,454

5,293

Nabors

Industries

Ltd.*

572

44,828

Newpark

Resources,

Inc.*

4,767

30,652

Noble

Corp.

plc

7,034

294,092

Oceaneering

International,

Inc.*

6,276

124,014

Oil

States

International,

Inc.*

3,937

21,220

Patterson-UTI

Energy,

Inc.

22,115

255,871

Investments

Shares

Value

Common

Stocks

(a)

(continued)

ProFrac

Holding

Corp.,

Class

a

A*(b)

1,623

$

13,276

ProPetro

Holding

Corp.*

6,030

44,622

Ranger

Energy

Services,

Inc.,

Class

a

A

917

9,619

RPC,

Inc.

5,311

39,248

SEACOR

Marine

Holdings,

Inc.*

1,503

15,781

Seadrill

Ltd.*

3,155

133,141

Select

Water

Solutions,

Inc.,

Class

a

A

4,986

42,580

Solaris

Oilfield

Infrastructure,

Inc.,

Class

a

A

1,825

15,458

TETRA

Technologies,

Inc.*

7,823

30,510

Tidewater,

Inc.*

2,901

203,157

US

Silica

Holdings,

Inc.*

4,704

54,096

Valaris

Ltd.*

3,773

237,888

Weatherford

International

plc*

4,448

456,409

3,798,909

Entertainment

—

0.3%

Atlanta

Braves

Holdings,

Inc.,

Class

a

A*

627

26,303

Atlanta

Braves

Holdings,

Inc.,

Class

a

C*

2,844

111,257

Cinemark

Holdings,

Inc.*

6,864

119,502

Eventbrite,

Inc.,

Class

a

A*

4,828

27,037

IMAX

Corp.*

2,805

48,050

Lions

Gate

Entertainment

Corp.,

Class

a

A*

3,638

35,325

Lions

Gate

Entertainment

Corp.,

Class

a

B*

7,523

68,309

Loop

Media,

Inc.*(b)

2,395

1,197

Madison

Square

Garden

Entertainment

Corp.,

Class

a

A*

2,482

95,532

Marcus

Corp.

(The)

1,514

22,210

Playstudios,

Inc.*

5,340

12,656

Reservoir

Media,

Inc.*

1,239

8,946

Sphere

Entertainment

Co.*

1,662

71,965

Vivid

Seats,

Inc.,

Class

a

A*

1,524

9,174

657,463

Equity

Real

Estate

Investment

Trusts

(REITs)

—

0.0%(d)

Hudson

Pacific

Properties,

Inc.

8,626

54,689

Financial

Services

—

1.8%

Acacia

Research

Corp.*

2,372

9,583

Alerus

Financial

Corp.

1,119

24,405

A-Mark

Precious

Metals,

Inc.

1,187

30,494

AvidXchange

Holdings,

Inc.*

9,328

123,969

Banco

Latinoamericano

de

Comercio

Exterior

SA,

Class

a

E

1,717

48,025

Cannae

Holdings,

Inc.*

4,288

93,564

Cantaloupe,

Inc.*

3,579

23,264

Cass

Information

Systems,

Inc.

855

41,314

Compass

Diversified

Holdings

3,945

90,735

Enact

Holdings,

Inc.

1,849

51,254

Essent

Group

Ltd.

6,546

350,669

EVERTEC,

Inc.

4,081

147,447

Federal

Agricultural

Mortgage

Corp.,

Class

a

C

570

101,956

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Common

Stocks

(a)

(continued)

Finance

of

America

Cos.,

Inc.,

Class

a

A*(b)

3,334

$

2,882

Flywire

Corp.*

6,636

188,396

I3

Verticals,

Inc.,

Class

a

A*

1,406

29,962

International

Money

Express,

Inc.*

1,999

39,380

Jackson

Financial,

Inc.,

Class

a

A

5,174

284,829

Marqeta,

Inc.,

Class

a

A*

29,986

195,809

Merchants

Bancorp

991

42,474

Mr

Cooper

Group,

Inc.*

4,029

287,187

NewtekOne,

Inc.

1,454

16,779

NMI

Holdings,

Inc.,

Class

a

A*

5,052

151,964

Ocwen

Financial

Corp.*(b)

401

10,458

Pagseguro

Digital

Ltd.,

Class

a

A*

12,401

172,622

Payoneer

Global,

Inc.*

16,547

80,418

Paysafe

Ltd.*

2,027

29,184

Paysign,

Inc.*

2,037

6,233

PennyMac

Financial

Services,

Inc.

1,594

135,378

Priority

Technology

Holdings,

Inc.*

1,102

3,648

Radian

Group,

Inc.

9,829

286,417

Remitly

Global,

Inc.*

8,312

171,393

Repay

Holdings

Corp.,

Class

a

A*

5,178

44,997

Security

National

Financial

Corp.,

Class

a

A*

788

6,793

StoneCo

Ltd.,

Class

a

A*

18,168

312,671

SWK

Holdings

Corp.*

229

3,792

Velocity

Financial,

Inc.*

547

8,943

Walker

&

Dunlop,

Inc.

1,986

189,425

Waterstone

Financial,

Inc.

1,098

13,890

3,852,603

Food

Products

—

0.7%

Alico,

Inc.

445

12,331

B&G

Foods,

Inc.(b)

4,440

51,282

Benson

Hill,

Inc.*(b)

10,810

2,676

Beyond

Meat,

Inc.*(b)

3,701

39,564

BRC,

Inc.,

Class

a

A*(b)

2,443

10,090

Calavo

Growers,

Inc.

1,080

31,169

Cal-Maine

Foods,

Inc.

2,564

147,404

Dole

plc

4,466

52,743

Forafric

Global

plc*(b)

331

3,456

Fresh

Del

Monte

Produce,

Inc.

2,126

50,875

Hain

Celestial

Group,

Inc.

(The)*(b)

5,585

55,850

J

&

J

Snack

Foods

Corp.

941

136,520

John

B

Sanfilippo

&

Son,

Inc.

559

57,225

Lancaster

Colony

Corp.

1,220

252,442

Limoneira

Co.

1,093

20,177

Mission

Produce,

Inc.*

3,026

31,924

Seneca

Foods

Corp.,

Class

a

A*

328

16,616

Simply

Good

Foods

Co.

(The)*

5,670

201,172

Sovos

Brands,

Inc.*

3,451

78,648

SunOpta,

Inc.*

5,851

41,133

TreeHouse

Foods,

Inc.*

3,217

115,136

Utz

Brands,

Inc.

4,497

79,552

Vital

Farms,

Inc.*

1,906

34,251

Westrock

Coffee

Co.*(b)

1,773

17,943

1,540,179

Investments

Shares

Value

Common

Stocks

(a)

(continued)

Gas

Utilities

—

0.7%

Brookfield

Infrastructure

Corp.,

Class

a

A(b)

7,488

$

248,377

Chesapeake

Utilities

Corp.

1,329

135,598

New

Jersey

Resources

Corp.

6,071

252,614

Northwest

Natural

Holding

Co.

2,243

82,408

ONE

Gas,

Inc.

3,448

205,501

RGC

Resources,

Inc.

500

9,380

Southwest

Gas

Holdings,

Inc.

3,859

262,991

Spire,

Inc.

3,219

190,951

1,387,820

Ground

Transportation

—

0.3%

ArcBest

Corp.

1,486

212,290

Covenant

Logistics

Group,

Inc.,

Class

a

A

519

25,265

Daseke,

Inc.*

2,564

21,153

FTAI

Infrastructure,

Inc.

6,177

28,291

Heartland

Express,

Inc.

2,926

37,394

Marten

Transport

Ltd.

3,628

68,388

PAM

Transportation

Services,

Inc.*

386

7,149

RXO,

Inc.*

7,258

156,192

Universal

Logistics

Holdings,

Inc.

424

14,344

Werner

Enterprises,

Inc.

3,953

158,673

729,139

Health

Care

Equipment

&

Supplies

—

2.0%

Accuray,

Inc.*(b)

5,888

15,309

Alphatec

Holdings,

Inc.*

5,757

77,317

AngioDynamics,

Inc.*

2,392

13,132

Artivion,

Inc.*

2,459

47,459

AtriCure,

Inc.*

2,908

101,693

Atrion

Corp.

86

31,647

Avanos

Medical,

Inc.*

2,888

53,630

Axogen,

Inc.*

2,538

26,801

Axonics,

Inc.*

3,105

210,954

Beyond

Air,

Inc.*(b)

1,692

3,469

Butterfly

Network,

Inc.*(b)

8,843

10,523

Cerus

Corp.*

11,075

24,144

ClearPoint

Neuro,

Inc.*

1,430

9,138

CONMED

Corp.

1,913

153,652

Cutera,

Inc.*(b)

1,143

2,560

CVRx,

Inc.*

694

13,623

Embecta

Corp.

3,607

51,508

Glaukos

Corp.*

2,961

262,315

Haemonetics

Corp.*

3,131

228,500

Inari

Medical,

Inc.*

3,335

153,810

Inmode

Ltd.*

4,836

106,392

Inogen,

Inc.*

1,454

9,669

Integer

Holdings

Corp.*

2,073

228,631

iRadimed

Corp.

457

19,180

iRhythm

Technologies,

Inc.*

1,916

227,333

KORU

Medical

Systems,

Inc.*

2,143

4,543

Lantheus

Holdings,

Inc.*

4,248

277,734

LeMaitre

Vascular,

Inc.

1,233

86,310

LivaNova

plc*

3,387

185,641

Merit

Medical

Systems,

Inc.*

3,550

270,510

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Common

Stocks

(a)

(continued)

Neogen

Corp.*

13,605

$

233,870

Nevro

Corp.*

2,217

32,280

Omnicell,

Inc.*

2,806

73,629

OraSure

Technologies,

Inc.*

4,497

32,356

Orchestra

BioMed

Holdings,

Inc.*(b)

910

5,860

Orthofix

Medical,

Inc.*

2,195

28,667

OrthoPediatrics

Corp.*

991

27,213

Outset

Medical,

Inc.*(b)

3,121

9,831

Paragon

28,

Inc.*

2,741

34,208

PROCEPT

BioRobotics

Corp.*

2,518

121,720

Pulmonx

Corp.*

2,289

21,105

Pulse

Biosciences,

Inc.*(b)

1,008

9,959

RxSight,

Inc.*

1,774

96,807

Sanara

Medtech,

Inc.*(b)

241

9,168

Semler

Scientific,

Inc.*

287

13,538

SI-BONE,

Inc.*

2,483

43,080

Sight

Sciences,

Inc.*(b)

1,349

5,423

Silk

Road

Medical,

Inc.*

2,398

43,140

STAAR

Surgical

Co.*

3,034

94,782

Surmodics,

Inc.*

860

27,434

Tactile

Systems

Technology,

Inc.*

1,452

22,143

Tela

Bio,

Inc.*

1,010

6,828

TransMedics

Group,

Inc.*

1,981

161,650

Treace

Medical

Concepts,

Inc.*

2,822

37,928

UFP

Technologies,

Inc.*

443

92,281

Utah

Medical

Products,

Inc.

215

15,089

Varex

Imaging

Corp.*

2,422

41,658

Vicarious

Surgical,

Inc.,

Class

a

A*

6,246

2,651

Zimvie,

Inc.*

1,613

27,340

Zynex,

Inc.*(b)

1,138

15,431

4,294,196

Health

Care

Providers

&

Services

—

1.9%

23andMe

Holding

Co.,

Class

a

A*

18,997

10,828

Accolade,

Inc.*

4,233

43,388

AdaptHealth

Corp.,

Class

a

A*

5,974

61,114

Addus

HomeCare

Corp.*

977

90,157

Agiliti,

Inc.*

1,851

18,269

AirSculpt

Technologies,

Inc.*(b)

760

4,796

Alignment

Healthcare,

Inc.*

5,312

31,872

AMN

Healthcare

Services,

Inc.*

2,380

133,923

Astrana

Health,

Inc.*

2,675

120,482

Aveanna

Healthcare

Holdings,

Inc.*

3,160

7,489

Brookdale

Senior

Living,

Inc.*

11,637

66,564

CareMax,

Inc.*

156

1,200

Castle

Biosciences,

Inc.*

1,550

27,993

Community

Health

Systems,

Inc.*

7,847

21,893

CorVel

Corp.*

545

132,980

Cross

Country

Healthcare,

Inc.*

2,150

39,280

DocGo,

Inc.*

4,855

19,760

Enhabit,

Inc.*

3,143

28,287

Ensign

Group,

Inc.

(The)

3,405

425,353

Fulgent

Genetics,

Inc.*

1,277

28,809

Guardant

Health,

Inc.*

7,050

133,950

HealthEquity,

Inc.*

5,249

433,620

Hims

&

Hers

Health,

Inc.*

7,629

99,482

Investments

Shares

Value

Common

Stocks

(a)

(continued)

InfuSystem

Holdings,

Inc.*

1,134

$

10,489

Innovage

Holding

Corp.*

1,180

5,711

Joint

Corp.

(The)*

888

8,756

LifeStance

Health

Group,

Inc.*(b)

6,625

55,319

ModivCare,

Inc.*

796

22,320

Nano-X

Imaging

Ltd.*(b)

2,978

33,234

National

HealthCare

Corp.

780

76,955

National

Research

Corp.

898

36,207

NeoGenomics,

Inc.*

7,953

124,067

OPKO

Health,

Inc.*(b)

25,173

25,173

Option

Care

Health,

Inc.*

10,467

337,770

Owens

&

Minor,

Inc.*

4,637

112,818

P3

Health

Partners,

Inc.*

2,545

2,647

Patterson

Cos.,

Inc.

5,364

145,311

Pediatrix

Medical

Group,

Inc.*

5,254

48,074

Pennant

Group,

Inc.

(The)*

1,780

33,197

PetIQ,

Inc.,

Class

a

A*

1,706

31,066

Privia

Health

Group,

Inc.*

7,030

156,910

Progyny,

Inc.*

4,960

181,139

Quipt

Home

Medical

Corp.*

2,558

10,974

RadNet,

Inc.*

3,760

142,354

Select

Medical

Holdings

Corp.

6,491

176,750

Surgery

Partners,

Inc.*

4,752

147,454

US

Physical

Therapy,

Inc.

929

98,725

Viemed

Healthcare,

Inc.*

2,130

18,020

4,022,929

Health

Care

REITs

—

0.3%

CareTrust

REIT,

Inc.,

REIT

6,256

141,135

Community

Healthcare

Trust,

Inc.,

REIT

1,667

45,242

Diversified

Healthcare

Trust,

REIT

14,920

48,938

Global

Medical

REIT,

Inc.,

REIT

3,808

34,082

LTC

Properties,

Inc.,

REIT

2,562

80,601

National

Health

Investors,

Inc.,

REIT

2,607

149,824

Sabra

Health

Care

REIT,

Inc.,

REIT

14,458

200,677

Universal

Health

Realty

Income

Trust,

REIT

804

31,179

731,678

Health

Care

Technology

—

0.3%

American

Well

Corp.,

Class

a

A*

15,541

16,784

Computer

Programs

and

Systems,

Inc.*

892

7,903

Definitive

Healthcare

Corp.,

Class

a

A*

2,897

27,580

Evolent

Health,

Inc.,

Class

a

A*

6,876

233,165

Health

Catalyst,

Inc.*

3,528

29,353

HealthStream,

Inc.

1,505

41,057

Multiplan

Corp.*(b)

24,019

26,901

OptimizeRx

Corp.*

1,009

15,973

Phreesia,

Inc.*

3,307

81,848

Schrodinger,

Inc.*

3,402

86,615

Sharecare,

Inc.*

19,246

18,091

Simulations

Plus,

Inc.

990

41,085

626,355

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Common

Stocks

(a)

(continued)

Hotel

&

Resort

REITs

—

0.7%

Apple

Hospitality

REIT,

Inc.,

REIT

13,468

$

216,700

Braemar

Hotels

&

Resorts,

Inc.,

REIT

4,094

9,334

Chatham

Lodging

Trust,

REIT

3,010

30,702

DiamondRock

Hospitality

Co.,

REIT

13,134

123,459

Pebblebrook

Hotel

Trust,

REIT

7,421

117,549

RLJ

Lodging

Trust,

REIT

9,677

114,866

Ryman

Hospitality

Properties,

Inc.,

REIT

3,645

431,860

Service

Properties

Trust,

REIT

10,299

70,033

Summit

Hotel

Properties,

Inc.,

REIT

6,545

42,019

Sunstone

Hotel

Investors,

Inc.,

REIT

13,012

145,604

Xenia

Hotels

&

Resorts,

Inc.,

REIT

6,708

102,901

1,405,027

Hotels,

Restaurants

&

Leisure

—

1.7%

Accel

Entertainment,

Inc.,

Class

a

A*

3,330

37,729

Bally's

Corp.*

1,841

20,693

Biglari

Holdings,

Inc.,

Class

a

B*

46

7,968

BJ's

Restaurants,

Inc.*

1,421

49,763

Bloomin'

Brands,

Inc.

5,474

148,783

Bowlero

Corp.,

Class

a

A(b)

1,054

13,122

Brinker

International,

Inc.*

2,740

126,972

Carrols

Restaurant

Group,

Inc.

2,293

21,715

Century

Casinos,

Inc.*

1,717

4,996

Cheesecake

Factory,

Inc.

(The)

3,030

107,201

Chuy's

Holdings,

Inc.*

1,128

38,160

Cracker

Barrel

Old

Country

Store,

Inc.(b)

1,378

91,127

Dave

&

Buster's

Entertainment,

Inc.*

2,257

139,347

Denny's

Corp.*

3,203

29,564

Dine

Brands

Global,

Inc.

966

46,861

El

Pollo

Loco

Holdings,

Inc.*

1,735

15,719

Everi

Holdings,

Inc.*

5,271

62,514

First

Watch

Restaurant

Group,

Inc.*

1,387

34,744

Full

House

Resorts,

Inc.*

2,050

10,517

Global

Business

Travel

Group

I*(b)

2,014

12,084

Golden

Entertainment,

Inc.

1,264

46,844

Hilton

Grand

Vacations,

Inc.*

5,021

225,342

Inspired

Entertainment,

Inc.*

1,355

13,414

International

Game

Technology

plc

6,782

184,267

Jack

in

the

Box,

Inc.

1,266

92,418

Krispy

Kreme,

Inc.

5,467

70,743

Kura

Sushi

USA,

Inc.,

Class

a

A*

364

34,591

Life

Time

Group

Holdings,

Inc.*

2,788

38,307

Light

&

Wonder,

Inc.*

5,705

573,410

Lindblad

Expeditions

Holdings,

Inc.*

2,183

20,236

Monarch

Casino

&

Resort,

Inc.

841

59,164

Investments

Shares

Value

Common

Stocks

(a)

(continued)

Mondee

Holdings,

Inc.,

Class

a

A*(b)

2,833

$

6,374

Nathan's

Famous,

Inc.

176

12,364

Noodles

&

Co.,

Class

a

A*

2,505

6,288

ONE

Group

Hospitality,

Inc.

(The)*

1,371

5,361

Papa

John's

International,

Inc.

2,054

147,662

PlayAGS,

Inc.*

2,305

21,390

Portillo's,

Inc.,

Class

a

A*

2,830

41,120

Potbelly

Corp.*

1,629

22,611

RCI

Hospitality

Holdings,

Inc.

546

30,773

Red

Robin

Gourmet

Burgers,

Inc.*

991

7,413

Red

Rock

Resorts,

Inc.,

Class

a

A

2,973

172,404

Rush

Street

Interactive,

Inc.*

4,035

23,605

Sabre

Corp.*

20,682

54,807

Shake

Shack,

Inc.,

Class

a

A*

2,359

250,809

Six

Flags

Entertainment

Corp.*

4,512

114,334

Super

Group

SGHC

Ltd.*

8,517

28,106

Sweetgreen,

Inc.,

Class

a

A*

6,032

76,848

Target

Hospitality

Corp.*

1,952

18,895

United

Parks

&

Resorts,

Inc.*

2,271

116,616

Xponential

Fitness,

Inc.,

Class

a

A*

1,571

15,836

3,551,931

Household

Durables

—

1.8%

Beazer

Homes

USA,

Inc.*

1,840

57,647

Cavco

Industries,

Inc.*

547

203,796

Century

Communities,

Inc.

1,776

153,251

Cricut,

Inc.,

Class

a

A

2,985

14,418

Dream

Finders

Homes,

Inc.,

Class

a

A*

1,513

59,204

Ethan

Allen

Interiors,

Inc.

1,426

47,671

GoPro,

Inc.,

Class

a

A*

7,876

18,430

Green

Brick

Partners,

Inc.*

1,629

95,297

Helen

of

Troy

Ltd.*

1,485

185,625

Hooker

Furnishings

Corp.

667

16,348

Hovnanian

Enterprises,

Inc.,

Class

a

A*

305

47,781

Installed

Building

Products,

Inc.

1,481

353,855

iRobot

Corp.*(b)

1,712

19,534

KB

Home

4,449

295,547

Landsea

Homes

Corp.*

1,261

17,175

La-Z-Boy,

Inc.

2,711

102,991

Legacy

Housing

Corp.*

619

15,921

LGI

Homes,

Inc.*

1,300

148,317

Lovesac

Co.

(The)*

876

20,183

M/I

Homes,

Inc.*

1,683

213,724

MDC

Holdings,

Inc.

3,746

234,874

Meritage

Homes

Corp.

2,275

358,676

Purple

Innovation,

Inc.,

Class

a

A

3,420

6,361

Skyline

Champion

Corp.*

3,347

280,445

Snap

One

Holdings

Corp.*(b)

1,142

9,456

Sonos,

Inc.*

7,933

150,410

Taylor

Morrison

Home

Corp.,

Class

a

A*

6,472

366,380

Traeger,

Inc.*

2,215

4,917

Tri

Pointe

Homes,

Inc.*

6,005

212,457

United

Homes

Group,

Inc.*(b)

337

2,352

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Common

Stocks

(a)

(continued)

Vizio

Holding

Corp.,

Class

a

A*

4,794

$

52,782

VOXX

International

Corp.,

Class

a

A*

740

6,290

Worthington

Enterprises,

Inc.

1,924

119,519

3,891,634

Household

Products

—

0.2%

Central

Garden

&

Pet

Co.*

602

26,410

Central

Garden

&

Pet

Co.,

Class

a

A*

3,223

121,475

Energizer

Holdings,

Inc.

4,475

127,761

Oil-Dri

Corp.

of

America

306

21,815

WD-40

Co.

848

227,594

525,055

Independent

Power

and

Renewable

Electricity

Producers

—

0.2%

Altus

Power,

Inc.,

Class

a

A*

3,989

27,165

Montauk

Renewables,

Inc.*

4,161

23,635

Ormat

Technologies,

Inc.

3,340

217,601

Sunnova

Energy

International,

Inc.*

6,637

48,317

316,718

Industrial

Conglomerates

—

0.0%(d)

Brookfield

Business

Corp.,

Class

a

A

1,622

37,079

Industrial

REITs

—

0.3%

Innovative

Industrial

Properties,

Inc.,

REIT

1,744

170,895

LXP

Industrial

Trust,

REIT

18,099

156,737

Plymouth

Industrial

REIT,

Inc.,

REIT

2,758

59,490

Terreno

Realty

Corp.,

REIT

5,177

332,881

720,003

Insurance

—

1.4%

Ambac

Financial

Group,

Inc.*

2,763

45,203

American

Coastal

Insurance

Corp.*(b)

1,224

17,063

American

Equity

Investment

Life

Holding

Co.*

4,910

272,701

AMERISAFE,

Inc.

1,191

62,837

BRP

Group,

Inc.,

Class

a

A*

3,760

104,603

CNO

Financial

Group,

Inc.

6,996

186,723

Crawford

&

Co.,

Class

a

A

904

10,586

Donegal

Group,

Inc.,

Class

a

A

974

13,636

eHealth,

Inc.*

1,750

11,550

Employers

Holdings,

Inc.

1,602

73,227

Enstar

Group

Ltd.*

745

229,415

F&G

Annuities

&

Life,

Inc.

1,169

44,165

Fidelis

Insurance

Holdings

Ltd.*

946

14,152

Genworth

Financial,

Inc.,

Class

a

A*

28,865

177,520

GoHealth,

Inc.,

Class

a

A*

259

3,486

Goosehead

Insurance,

Inc.,

Class

a

A*

1,346

101,825

Greenlight

Capital

Re

Ltd.,

Class

a

A*

1,613

20,372

HCI

Group,

Inc.

402

39,243

Investments

Shares

Value

Common

Stocks

(a)

(continued)

Hippo

Holdings,

Inc.*(b)

664

$

9,329

Horace

Mann

Educators

Corp.

2,566

92,864

Investors

Title

Co.

76

11,812

James

River

Group

Holdings

Ltd.

2,312

23,097

Kingsway

Financial

Services,

Inc.*

680

5,998

Lemonade,

Inc.*(b)

3,166

51,416

Maiden

Holdings

Ltd.*(b)

5,665

7,648

MBIA,

Inc.

2,854

18,637

Mercury

General

Corp.

1,674

81,507

National

Western

Life

Group,

Inc.,

Class

a

A

142

68,952

NI

Holdings,

Inc.*

515

7,210

Oscar

Health,

Inc.,

Class

a

A*

9,844

160,063

Palomar

Holdings,

Inc.*

1,523

115,961

ProAssurance

Corp.

3,255

40,134

Safety

Insurance

Group,

Inc.

897

73,697

Selective

Insurance

Group,

Inc.

3,760

392,845

Selectquote,

Inc.*

8,515

16,519

SiriusPoint

Ltd.*

4,363

53,534

Skyward

Specialty

Insurance

Group,

Inc.*

1,490

54,519

Stewart

Information

Services

Corp.

1,671

105,240

Tiptree,

Inc.,

Class

a

A

1,498

26,230

Trupanion,

Inc.*(b)

2,472

66,126

United

Fire

Group,

Inc.

1,313

30,580

Universal

Insurance

Holdings,

Inc.

1,516

30,608

2,972,833

Interactive

Media

&

Services

—

0.5%

Bumble,

Inc.,

Class

a

A*

6,320

72,364

Cargurus,

Inc.,

Class

a

A*

6,109

135,253

Cars.com,

Inc.*

4,154

76,184

DHI

Group,

Inc.*

2,672

7,562

EverQuote,

Inc.,

Class

a

A*

1,340

21,467

fuboTV,

Inc.*

17,683

36,604

Grindr,

Inc.*(b)

2,559

21,189

MediaAlpha,

Inc.,

Class

a

A*

1,411

29,278

Nextdoor

Holdings,

Inc.*

9,084

19,894

Outbrain,

Inc.*

2,561

9,425

QuinStreet,

Inc.*

3,299

48,264

Shutterstock,

Inc.

1,540

75,090

System1,

Inc.*(b)

2,041

3,408

TrueCar,

Inc.*

5,589

19,450

Vimeo,

Inc.*

9,505

45,529

Yelp,

Inc.,

Class

a

A*

4,158

159,834

Ziff

Davis,

Inc.*

2,891

198,785

ZipRecruiter,

Inc.,

Class

a

A*

4,224

53,729

1,033,309

IT

Services

—

0.4%

Applied

Digital

Corp.*(b)

5,119

21,244

BigBear.ai

Holdings,

Inc.*(b)

1,827

6,139

BigCommerce

Holdings,

Inc.,

Series

1*

4,195

32,511

Brightcove,

Inc.*

2,723

6,031

Couchbase,

Inc.*

2,172

60,990

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Value

Common

Stocks

(a)

(continued)

DigitalOcean

Holdings,

Inc.*

3,959

$

150,125

Fastly,

Inc.,

Class

a

A*

7,544

107,276

Grid

Dynamics

Holdings,

Inc.*

3,517

47,444

Hackett

Group,

Inc.

(The)

1,562

38,613

Information

Services

Group,

Inc.

2,191

9,487

Perficient,

Inc.*

2,144

139,081

Rackspace

Technology,

Inc.*(b)

3,948

8,330

Squarespace,

Inc.,

Class

a

A*

3,153

104,932

Thoughtworks

Holding,

Inc.*

5,779

18,030

Tucows,

Inc.,

Class

a

A*

620

11,718

Unisys

Corp.*

4,150

21,539

783,490

Leisure

Products

—

0.3%

Acushnet

Holdings

Corp.

1,926

124,073

AMMO,

Inc.*(b)

5,629

13,397

Clarus

Corp.

1,827

10,524

Escalade,

Inc.(b)

621

9,209

Funko,

Inc.,

Class

a

A*

2,226

15,671

JAKKS

Pacific,

Inc.*

460

16,151

Johnson

Outdoors,

Inc.,

Class

a

A

338

15,534

Latham

Group,

Inc.*

2,424

8,217

Malibu

Boats,

Inc.,

Class

a

A*

1,269

55,379

Marine

Products

Corp.

525

6,016

MasterCraft

Boat

Holdings,

Inc.*

1,059

23,224

Smith

&

Wesson

Brands,

Inc.

2,855

39,199

Solo

Brands,

Inc.,

Class

a

A*

1,241

3,351

Sturm

Ruger

&

Co.,

Inc.

1,093

47,349

Topgolf

Callaway

Brands

Corp.*

8,988

127,989

Vista

Outdoor,

Inc.*

3,609

112,601

627,884

Life

Sciences

Tools

&

Services

—

0.2%

Adaptive

Biotechnologies

Corp.*

7,089

29,136

Akoya

Biosciences,

Inc.*

1,446

8,300

BioLife

Solutions,

Inc.*

2,172

36,707

Codexis,

Inc.*

4,350

20,227

CryoPort,

Inc.*

2,701

47,727

Cytek

Biosciences,

Inc.*

7,564

58,243

Harvard

Bioscience,

Inc.*

2,530

10,955

MaxCyte,

Inc.*

5,454

25,088

Mesa

Laboratories,

Inc.

322

35,159

Nautilus

Biotechnology,

Inc.,

Class

a

A*

3,150

8,473

OmniAb,

Inc.*

5,820

33,989

Pacific

Biosciences

of

California,

Inc.*

15,716

86,909

Quanterix

Corp.*

2,199

52,688

Quantum-Si,

Inc.*(b)

6,349

10,603

Seer,

Inc.,

Class

a

A*

3,658

6,658

470,862

Machinery

—

2.7%

374Water,

Inc.*(b)

3,850

5,120

3D

Systems

Corp.*

8,158

33,774

Alamo

Group,

Inc.

630

127,443

Albany

International

Corp.,

Class

a

A

1,954

183,422

Astec

Industries,

Inc.

1,419

57,611

Barnes

Group,

Inc.

3,059

106,881

Investments

Shares

Value

Common

Stocks

(a)

(continued)

Blue

Bird

Corp.*

1,581

$

53,501

Chart

Industries,

Inc.*

2,685

383,579

Columbus

McKinnon

Corp.

1,761

73,557

Commercial

Vehicle

Group,

Inc.*

2,029

13,270

Desktop

Metal,

Inc.,

Class

a

A*(b)

17,508

10,710

Douglas

Dynamics,

Inc.

1,409

35,366

Energy

Recovery,

Inc.*

3,478

54,361

Enerpac

Tool

Group

Corp.,

Class

a

A

3,410

114,951

Enpro,

Inc.

1,308

203,813

ESCO

Technologies,

Inc.

1,599

162,922

Federal

Signal

Corp.

3,743

306,589

Franklin

Electric

Co.,

Inc.

2,885

299,925

Gencor

Industries,

Inc.*

658

10,785

Gorman-Rupp

Co.

(The)

1,429

53,345

Greenbrier

Cos.,

Inc.

(The)

1,906

98,635

Helios

Technologies,

Inc.

2,072

91,479

Hillenbrand,

Inc.

4,378

208,174

Hillman

Solutions

Corp.*

12,194

118,770

Hyliion

Holdings

Corp.*

9,213

16,768

Hyster-Yale

Materials

Handling,

Inc.

695

40,922

John

Bean

Technologies

Corp.

1,989

201,844

Kadant,

Inc.

731

246,566

Kennametal,

Inc.

5,038

127,159

Lindsay

Corp.

691

82,443

Luxfer

Holdings

plc

1,664

16,507

Manitowoc

Co.,

Inc.

(The)*

2,176

30,333

Mayville

Engineering

Co.,

Inc.*

700

8,568

Microvast

Holdings,

Inc.*(b)

13,417

11,543

Miller

Industries,

Inc.

694

31,237

Mueller

Industries,

Inc.

7,001

359,711

Mueller

Water

Products,

Inc.,

Class

a

A

9,693

150,726

Nikola

Corp.*(b)

38,775

28,856

Omega

Flex,

Inc.

204

14,209

Park-Ohio

Holdings

Corp.

534

14,343

Proto

Labs,

Inc.*

1,646

59,964

REV

Group,

Inc.

1,976

40,785

Shyft

Group,

Inc.

(The)

2,111

21,764

SPX

Technologies,

Inc.*

2,757

323,093

Standex

International

Corp.

736

127,328

Tennant

Co.

1,156

130,848

Terex

Corp.

4,154

238,232

Titan

International,

Inc.*

3,273

41,763

Trinity

Industries,

Inc.

5,071

128,702

Velo3D,

Inc.*(b)

5,676

1,550

Wabash

National

Corp.

2,876

78,457

Watts

Water

Technologies,

Inc.,

Class

a

A

1,709

348,550

5,730,754

Marine

Transportation

—

0.2%

Costamare,

Inc.

2,901

32,984

Eagle

Bulk

Shipping,

Inc.(b)

578

35,414

Genco

Shipping

&

Trading

Ltd.

2,628

53,611

Golden

Ocean

Group

Ltd.

7,686

98,919

Himalaya

Shipping

Ltd.*(b)

1,760

13,887

Matson,

Inc.

2,155

239,313

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Common

Stocks

(a)

(continued)

Pangaea

Logistics

Solutions

Ltd.

2,274

$

19,056

Safe

Bulkers,

Inc.

4,139

19,205

512,389

Media

—

0.5%

Advantage

Solutions,

Inc.*

5,422

20,658

AMC

Networks,

Inc.,

Class

a

A*

1,929

24,961

Boston

Omaha

Corp.,

Class

a

A*

1,465

24,041

Cardlytics,

Inc.*

2,281

18,909

Clear

Channel

Outdoor

Holdings,

Inc.*

23,414

40,272

Daily

Journal

Corp.*

84

28,438

EchoStar

Corp.,

Class

a

A*

7,625

99,964

Emerald

Holding,

Inc.*

975

5,226

Entravision

Communications

Corp.,

Class

a

A

3,748

14,430

EW

Scripps

Co.

(The),

Class

a

A*

3,715

14,971

Gambling.com

Group

Ltd.*

957

8,766

Gannett

Co.,

Inc.*

9,004

19,179

Gray

Television,

Inc.

5,271

30,783

iHeartMedia,

Inc.,

Class

a

A*

6,482

17,955

Integral

Ad

Science

Holding

Corp.*

3,031

31,401

John

Wiley

&

Sons,

Inc.,

Class

a

A

2,276

75,905

Magnite,

Inc.*

8,450

101,569

PubMatic,

Inc.,

Class

a

A*

2,670

55,910

Scholastic

Corp.

1,671

65,904

Sinclair,

Inc.

2,049

30,428

Stagwell,

Inc.,

Class

a

A*

5,010

26,753

TechTarget,

Inc.*

1,588

50,355

TEGNA,

Inc.

12,611

176,680

Thryv

Holdings,

Inc.*

1,935

40,519

Townsquare

Media,

Inc.,

Class

a

A

729

7,757

Urban

One,

Inc.*

711

2,069

Urban

One,

Inc.,

Class

a

A*

565

1,870

WideOpenWest,

Inc.*

3,123

12,492

1,048,165

Metals

&

Mining

—

1.3%

5E

Advanced

Materials,

Inc.*(b)

2,453

4,440

Alpha

Metallurgical

Resources,

Inc.

721

271,997

Arch

Resources,

Inc.

1,124

185,786

ATI,

Inc.*

8,056

396,194

Caledonia

Mining

Corp.

plc

1,025

10,137

Carpenter

Technology

Corp.

3,056

197,570

Century

Aluminum

Co.*

3,285

34,394

Coeur

Mining,

Inc.*

20,677

53,553

Commercial

Metals

Co.

7,318

395,172

Compass

Minerals

International,

Inc.

2,139

48,769

Constellium

SE,

Class

a

A*

8,046

156,012

Contango

ORE,

Inc.*(b)

486

8,228

Dakota

Gold

Corp.*

3,510

7,441

Haynes

International,

Inc.

781

46,415

Hecla

Mining

Co.

38,125

134,963

i-80

Gold

Corp.*

12,056

15,191

Ivanhoe

Electric,

Inc.*

3,944

29,186

Investments

Shares

Value

Common

Stocks

(a)

(continued)

Kaiser

Aluminum

Corp.

997

$

72,302

Materion

Corp.

1,283

172,333

Metallus,

Inc.*

2,715

59,051

NioCorp

Developments

Ltd.*

131

342

Novagold

Resources,

Inc.*

15,099

37,446

Olympic

Steel,

Inc.

615

41,832

Perpetua

Resources

Corp.*(b)

2,357

6,812

Piedmont

Lithium,

Inc.*(b)

1,120

16,307

Radius

Recycling,

Inc.,

Class

a

A

1,615

31,912

Ramaco

Resources,

Inc.,

Class

a

A

1,392

24,471

Ramaco

Resources,

Inc.,

Class

a

B

282

3,384

Ryerson

Holding

Corp.

1,757

55,486

SunCoke

Energy,

Inc.

5,219

55,896

Tredegar

Corp.

1,665

7,243

Warrior

Met

Coal,

Inc.

3,231

184,070

Worthington

Steel,

Inc.*

1,924

60,914

2,825,249

Mortgage

Real

Estate

Investment

Trusts

(REITs)

—

0.8%

AFC

Gamma,

Inc.

1,023

11,764

Angel

Oak

Mortgage

REIT,

Inc.

737

7,716

Apollo

Commercial

Real

Estate

Finance,

Inc.

8,868

99,410

Arbor

Realty

Trust,

Inc.(b)

11,497

154,060

Ares

Commercial

Real

Estate

Corp.

3,246

24,475

ARMOUR

Residential

REIT,

Inc.

(b)

3,070

60,786

Blackstone

Mortgage

Trust,

Inc.,

Class

a

A(b)

10,763

219,242

BrightSpire

Capital,

Inc.,

Class

a

A

8,046

55,598

Chicago

Atlantic

Real

Estate

Finance,

Inc.

1,022

16,648

Chimera

Investment

Corp.

14,206

61,938

Claros

Mortgage

Trust,

Inc.

5,668

54,866

Dynex

Capital,

Inc.

3,525

43,499

Ellington

Financial,

Inc.

4,694

53,183

Franklin

BSP

Realty

Trust,

Inc.

5,192

67,029

Granite

Point

Mortgage

Trust,

Inc.

3,191

15,125

Hannon

Armstrong

Sustainable

Infrastructure

Capital,

Inc.

6,611

166,399

Invesco

Mortgage

Capital,

Inc.

2,807

25,349

KKR

Real

Estate

Finance

Trust,

Inc.

3,678

35,861

Ladder

Capital

Corp.,

Class

a

A

7,073

76,459

MFA

Financial,

Inc.

6,389

71,685

New

York

Mortgage

Trust,

Inc.

5,683

40,974

Nexpoint

Real

Estate

Finance,

Inc.

503

7,062

Orchid

Island

Capital,

Inc.(b)

3,287

28,268

PennyMac

Mortgage

Investment

Trust

5,427

76,684

Ready

Capital

Corp.

10,008

88,371

Redwood

Trust,

Inc.

7,113

43,603

TPG

RE

Finance

Trust,

Inc.

4,313

32,261

Two

Harbors

Investment

Corp.

6,073

76,945

1,715,260

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Investments

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Common

Stocks

(a)

(continued)

Multi-Utilities

—

0.3%

Avista

Corp.

4,790

$

159,028

Black

Hills

Corp.

4,215

219,307

Northwestern

Energy

Group,

Inc.

3,851

184,540

Unitil

Corp.

997

50,807

613,682

Office

REITs

—

0.5%

Brandywine

Realty

Trust,

REIT

10,628

45,700

City

Office

REIT,

Inc.,

REIT

2,435

11,152

COPT

Defense

Properties,

REIT

7,044

170,676

Douglas

Emmett,

Inc.,

REIT

10,072

133,152

Easterly

Government

Properties,

Inc.,

Class

a

A,

REIT

5,986

70,635

Equity

Commonwealth,

REIT*

6,376

120,060

JBG

SMITH

Properties,

REIT

6,339

105,101

Office

Properties

Income

Trust,

REIT

3,006

8,026

Orion

Office

REIT,

Inc.,

REIT

3,569

12,527

Paramount

Group,

Inc.,

REIT

11,554

51,184

Peakstone

Realty

Trust,

REIT(b)

2,259

31,106

Piedmont

Office

Realty

Trust,

Inc.,

Class

a

A,

REIT

7,713

48,361

Postal

Realty

Trust,

Inc.,

Class

a

A,

REIT

1,274

18,244

SL

Green

Realty

Corp.,

REIT(b)

4,047

196,199

1,022,123

Oil,

Gas

&

Consumable

Fuels

—

3.4%

Amplify

Energy

Corp.*

2,264

13,675

Ardmore

Shipping

Corp.

2,606

42,295

Berry

Corp.

4,706

33,177

California

Resources

Corp.

4,352

227,044

Callon

Petroleum

Co.*

3,825

119,187

Centrus

Energy

Corp.,

Class

a

A*

766

31,245

Chord

Energy

Corp.

2,614

424,644

Civitas

Resources,

Inc.

5,056

347,246

Clean

Energy

Fuels

Corp.*

10,590

31,241

CNX

Resources

Corp.*

9,783

204,954

Comstock

Resources,

Inc.

5,741

49,086

CONSOL

Energy,

Inc.

1,909

163,830

Crescent

Energy

Co.,

Class

a

A

4,815

53,832

CVR

Energy,

Inc.

1,852

61,449

Delek

US

Holdings,

Inc.

4,018

102,499

DHT

Holdings,

Inc.

8,565

92,673

Dorian

LPG

Ltd.

2,153

77,831

Empire

Petroleum

Corp.*(b)

815

4,833

Encore

Energy

Corp.*(b)

9,160

35,358

Energy

Fuels,

Inc.*(b)

9,810

62,097

Enviva,

Inc.*(b)

1,953

781

Equitrans

Midstream

Corp.

27,283

291,655

Evolution

Petroleum

Corp.

1,937

11,351

Excelerate

Energy,

Inc.,

Class

a

A

1,130

17,741

FLEX

LNG

Ltd.

1,861

46,972

FutureFuel

Corp.

1,631

9,672

Gevo,

Inc.*(b)

14,594

13,012

Golar

LNG

Ltd.

6,257

126,955

Granite

Ridge

Resources,

Inc.(b)

2,128

13,087

Investments

Shares

Value

Common

Stocks

(a)

(continued)

Green

Plains,

Inc.*

3,631

$

77,340

Gulfport

Energy

Corp.*

700

99,393

Hallador

Energy

Co.*

1,426

10,838

HighPeak

Energy,

Inc.(b)

751

12,444

International

Seaways,

Inc.

2,537

134,283

Kinetik

Holdings,

Inc.,

Class

a

A(b)

1,136

40,124

Kosmos

Energy

Ltd.*

28,511

175,058

Magnolia

Oil

&

Gas

Corp.,

Class

a

A

11,206

254,152

Matador

Resources

Co.

7,078

446,976

Murphy

Oil

Corp.

9,286

368,376

NACCO

Industries,

Inc.,

Class

a

A

263

8,739

NextDecade

Corp.*(b)

4,874

22,372

Nordic

American

Tankers

Ltd.

12,816

52,161

Northern

Oil

&

Gas,

Inc.

5,498

196,444

Overseas

Shipholding

Group,

Inc.,

Class

a

A

3,856

23,444

Par

Pacific

Holdings,

Inc.*

3,451

124,650

PBF

Energy,

Inc.,

Class

a

A

6,969

325,452

Peabody

Energy

Corp.

7,142

176,907

Permian

Resources

Corp.,

Class

a

A

24,307

378,217

PrimeEnergy

Resources

Corp.*

46

4,547

REX

American

Resources

Corp.*

968

42,573

Riley

Exploration

Permian,

Inc.

553

13,078

Ring

Energy,

Inc.*(b)

7,484

10,702

SandRidge

Energy,

Inc.

1,992

25,976

Scorpio

Tankers,

Inc.

2,983

200,249

SFL

Corp.

Ltd.

7,191

96,072

SilverBow

Resources,

Inc.*

1,316

37,361

Sitio

Royalties

Corp.,

Class

a

A

5,134

117,158

SM

Energy

Co.

7,385

323,241

Talos

Energy,

Inc.*

8,473

111,759

Teekay

Corp.*

3,869

29,288

Teekay

Tankers

Ltd.,

Class

a

A

1,493

81,846

Tellurian,

Inc.*(b)

34,517

27,403

Uranium

Energy

Corp.*

23,613

153,012

VAALCO

Energy,

Inc.

6,727

30,002

Verde

Clean

Fuels,

Inc.*(b)

38

162

Vertex

Energy,

Inc.*(b)

4,077

5,504

Vital

Energy,

Inc.*

1,458

73,381

Vitesse

Energy,

Inc.

1,565

35,572

W&T

Offshore,

Inc.

6,137

18,534

World

Kinect

Corp.

3,733

90,936

7,165,148

Paper

&

Forest

Products

—

0.1%

Clearwater

Paper

Corp.*

1,021

40,115

Glatfelter

Corp.*(b)

2,753

6,139

Sylvamo

Corp.

2,236

135,077

181,331

Passenger

Airlines

—

0.3%

Allegiant

Travel

Co.

987

71,834

Blade

Air

Mobility,

Inc.*

3,758

11,950

Frontier

Group

Holdings,

Inc.*(b)

2,406

16,698

Hawaiian

Holdings,

Inc.*

3,182

44,898

JetBlue

Airways

Corp.*

20,990

136,015

Joby

Aviation,

Inc.*(b)

17,405

97,816

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Common

Stocks

(a)

(continued)

SkyWest,

Inc.*

2,530

$

162,477

Spirit

Airlines,

Inc.(b)

6,852

44,195

Sun

Country

Airlines

Holdings,

Inc.*

2,354

35,310

621,193

Personal

Care

Products

—

0.8%

Beauty

Health

Co.

(The)*

5,106

17,003

BellRing

Brands,

Inc.*

8,240

469,268

Edgewell

Personal

Care

Co.

3,149

120,260

elf

Beauty,

Inc.*

3,370

702,746

Herbalife

Ltd.*

6,171

54,490

Inter

Parfums,

Inc.

1,146

168,141

Medifast,

Inc.

670

26,860

Nature's

Sunshine

Products,

Inc.*

823

14,608

Nu

Skin

Enterprises,

Inc.,

Class

a

A

3,113

38,913

USANA

Health

Sciences,

Inc.*

710

34,265

Waldencast

plc,

Class

a

A*(b)

2,251

15,037

1,661,591

Pharmaceuticals

—

1.4%

Aclaris

Therapeutics,

Inc.*

4,334

5,157

Amneal

Pharmaceuticals,

Inc.*

7,607

41,991

Amphastar

Pharmaceuticals,

Inc.*

2,404

111,954

Amylyx

Pharmaceuticals,

Inc.*

3,170

59,754

ANI

Pharmaceuticals,

Inc.*

906

61,309

Arvinas,

Inc.*

3,065

140,929

Assertio

Holdings,

Inc.*

5,538

4,895

Atea

Pharmaceuticals,

Inc.*

4,784

20,619

Axsome

Therapeutics,

Inc.*

2,225

181,070

Biote

Corp.,

Class

a

A*

873

5,194

Bright

Green

Corp.*(b)

3,878

966

Cara

Therapeutics,

Inc.*(b)

2,918

2,481

Cassava

Sciences,

Inc.*(b)

2,482

57,036

Citius

Pharmaceuticals,

Inc.*(b)

7,669

5,892

Collegium

Pharmaceutical,

Inc.*

2,163

79,404

Corcept

Therapeutics,

Inc.*

5,009

117,712

CorMedix,

Inc.*(b)

3,430

12,142

Cymabay

Therapeutics,

Inc.*

7,062

227,326

Edgewise

Therapeutics,

Inc.*

2,670

43,601

Enliven

Therapeutics,

Inc.*(b)

1,457

23,268

Evolus,

Inc.*

2,585

38,336

Eyenovia,

Inc.*(b)

1,877

4,064

EyePoint

Pharmaceuticals,

Inc.*

1,667

45,359

Harmony

Biosciences

Holdings,

Inc.*

2,011

64,553

Harrow,

Inc.*(b)

1,892

20,481

Ikena

Oncology,

Inc.*

1,931

2,761

Innoviva,

Inc.*

3,719

56,826

Intra-Cellular

Therapies,

Inc.*

5,848

406,553

Ligand

Pharmaceuticals,

Inc.*

1,051

83,397

Liquidia

Corp.*(b)

2,962

41,942

Longboard

Pharmaceuticals,

Inc.*

973

21,581

Marinus

Pharmaceuticals,

Inc.*

3,164

30,058

Neumora

Therapeutics,

Inc.*(b)

928

16,361

Investments

Shares

Value

Common

Stocks

(a)

(continued)

NGM

Biopharmaceuticals,

Inc.*(b)

2,719

$

4,133

Nuvation

Bio,

Inc.*

9,091

17,000

Ocular

Therapeutix,

Inc.*

4,988

50,179

Omeros

Corp.*(b)

3,792

17,064

Optinose,

Inc.*

4,549

8,097

Pacira

BioSciences,

Inc.*

2,844

84,524

Phathom

Pharmaceuticals,

Inc.*(b)

2,001

21,411

Phibro

Animal

Health

Corp.,

Class

a

A

1,276

16,499

Pliant

Therapeutics,

Inc.*

3,566

56,592

Prestige

Consumer

Healthcare,

Inc.*

3,111

216,463

Revance

Therapeutics,

Inc.*

5,461

38,992

Scilex

Holding

Co.*

3,181

7,221

scPharmaceuticals,

Inc.*(b)

1,803

10,854

SIGA

Technologies,

Inc.

2,876

14,984

Supernus

Pharmaceuticals,

Inc.*

3,067

91,090

Taro

Pharmaceutical

Industries

Ltd.*

510

21,456

Tarsus

Pharmaceuticals,

Inc.*

1,791

68,452

Terns

Pharmaceuticals,

Inc.*(b)

2,675

19,581

Theravance

Biopharma,

Inc.*(b)

3,216

30,456

Third

Harmonic

Bio,

Inc.*(b)

1,216

12,330

Trevi

Therapeutics,

Inc.*

2,629

7,677

Ventyx

Biosciences,

Inc.*(b)

2,920

20,674

Verrica

Pharmaceuticals,

Inc.*(b)

1,319

6,951

WaVe

Life

Sciences

Ltd.*

3,691

17,754

Xeris

Biopharma

Holdings,

Inc.*

8,304

25,535

Zevra

Therapeutics,

Inc.*(b)

2,269

15,293

2,936,234

Professional

Services

—

1.8%

Alight,

Inc.,

Class

a

A*

25,860

232,999

ASGN,

Inc.*

2,953

293,292

Asure

Software,

Inc.*

1,427

13,300

Barrett

Business

Services,

Inc.

413

50,382

BlackSky

Technology,

Inc.,

Class

a

A*(b)

7,460

10,593

CBIZ,

Inc.*

2,993

226,061

Conduent,

Inc.*

10,743

36,956

CRA

International,

Inc.

425

56,329

CSG

Systems

International,

Inc.

1,975

107,756

ExlService

Holdings,

Inc.*

10,098

314,250

Exponent,

Inc.

3,163

255,855

First

Advantage

Corp.

3,376

52,868

FiscalNote

Holdings,

Inc.*(b)

3,729

6,153

Forrester

Research,

Inc.*

734

14,805

Franklin

Covey

Co.*

726

27,719

Heidrick

&

Struggles

International,

Inc.

1,237

42,058

HireQuest,

Inc.(b)

334

4,476

HireRight

Holdings

Corp.*

858

12,158

Huron

Consulting

Group,

Inc.*

1,190

116,775

IBEX

Holdings

Ltd.*

582

9,289

ICF

International,

Inc.

1,169

181,020

Innodata,

Inc.*

1,618

11,973

Insperity,

Inc.

2,220

225,974

Kelly

Services,

Inc.,

Class

a

A

1,952

47,882

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Stocks

(a)

(continued)

Kforce,

Inc.

1,196

$

83,289

Korn

Ferry

3,258

207,404

Legalzoom.com,

Inc.*

7,399

91,748

Maximus,

Inc.

3,799

317,824

Mistras

Group,

Inc.*

1,300

11,245

NV5

Global,

Inc.*

869

88,386

Planet

Labs

PBC*

10,939

23,956

Resources

Connection,

Inc.

2,025

28,006

Skillsoft

Corp.*

273

3,331

Sterling

Check

Corp.*

1,959

30,697

TriNet

Group,

Inc.*

2,000

256,020

TrueBlue,

Inc.*

1,898

22,301

TTEC

Holdings,

Inc.

1,214

21,184

Upwork,

Inc.*

7,810

102,311

Verra

Mobility

Corp.,

Class

a

A*

8,718

188,483

Willdan

Group,

Inc.*

760

15,869

3,842,977

Real

Estate

Management

&

Development

—

0.5%

American

Realty

Investors,

Inc.*

94

1,819

Anywhere

Real

Estate,

Inc.*

6,733

42,216

Compass,

Inc.,

Class

a

A*

17,776

70,215

Cushman

&

Wakefield

plc*

10,372

103,616

DigitalBridge

Group,

Inc.

10,105

185,629

Douglas

Elliman,

Inc.

5,060

9,310

eXp

World

Holdings,

Inc.(b)

4,451

58,308

Forestar

Group,

Inc.*

1,144

38,576

FRP

Holdings,

Inc.*

412

24,802

Kennedy-Wilson

Holdings,

Inc.

7,474

65,622

Marcus

&

Millichap,

Inc.

1,482

54,375

Maui

Land

&

Pineapple

Co.,

Inc.*

470

9,198

Newmark

Group,

Inc.,

Class

a

A

8,573

92,503

Opendoor

Technologies,

Inc.*

34,699

106,873

RE/MAX

Holdings,

Inc.,

Class

a

A

1,091

9,306

Redfin

Corp.*

6,829

48,520

RMR

Group,

Inc.

(The),

Class

a

A

961

23,516

St

Joe

Co.

(The)

2,151

115,874

Star

Holdings*

808

9,979

Stratus

Properties,

Inc.*

352

7,691

Tejon

Ranch

Co.*

1,307

21,735

Transcontinental

Realty

Investors,

Inc.*

79

3,071

1,102,754

Residential

REITs

—

0.3%

Apartment

Investment

and

Management

Co.,

Class

a

A,

REIT*

9,134

67,409

BRT

Apartments

Corp.,

REIT

734

11,362

Centerspace,

REIT

944

52,477

Clipper

Realty,

Inc.,

REIT

715

3,346

Elme

Communities,

REIT

5,489

70,698

Independence

Realty

Trust,

Inc.,

REIT

14,093

206,322

NexPoint

Residential

Trust,

Inc.,

REIT

1,426

41,654

UMH

Properties,

Inc.,

REIT

3,738

57,565

Veris

Residential,

Inc.,

REIT

4,941

72,139

582,972

Investments

Shares

Value

Common

Stocks

(a)

(continued)

Retail

REITs

—

0.9%

Acadia

Realty

Trust,

REIT

5,837

$

95,668

Alexander's,

Inc.,

REIT

134

29,621

CBL

&

Associates

Properties,

Inc.,

REIT(b)

1,680

38,741

Getty

Realty

Corp.,

REIT

2,981

78,579

InvenTrust

Properties

Corp.,

REIT

4,247

107,237

Kite

Realty

Group

Trust,

REIT

13,600

291,176

Macerich

Co.

(The),

REIT

13,499

221,519

NETSTREIT

Corp.,

REIT

4,320

72,619

Phillips

Edison

&

Co.,

Inc.,

REIT

7,369

263,221

Retail

Opportunity

Investments

Corp.,

REIT

7,689

99,419

Saul

Centers,

Inc.,

REIT

728

26,346

SITE

Centers

Corp.,

REIT

11,906

161,683

Tanger,

Inc.,

REIT

6,383

183,894

Urban

Edge

Properties,

REIT

7,176

122,064

Whitestone

REIT,

REIT

3,038

37,428

1,829,215

Semiconductors

&

Semiconductor

Equipment

—

2.3%

ACM

Research,

Inc.,

Class

a

A*

3,004

92,884

Aehr

Test

Systems*

1,715

27,903

Alpha

&

Omega

Semiconductor

Ltd.*

1,448

31,711

Ambarella,

Inc.*

2,368

132,253

Amkor

Technology,

Inc.

7,030

218,071

Atomera,

Inc.*(b)

1,397

8,801

Axcelis

Technologies,

Inc.*

2,035

229,283

CEVA,

Inc.*

1,451

32,851

Cohu,

Inc.*

2,916

93,691

Credo

Technology

Group

Holding

Ltd.*

7,162

154,269

Diodes,

Inc.*

2,821

191,772

FormFactor,

Inc.*

4,819

207,361

Ichor

Holdings

Ltd.*

1,781

76,227

Impinj,

Inc.*

1,457

159,133

indie

Semiconductor,

Inc.,

Class

a

A*(b)

9,403

58,205

inTEST

Corp.*

732

8,550

Kulicke

&

Soffa

Industries,

Inc.

3,459

164,718

MACOM

Technology

Solutions

Holdings,

Inc.*

3,396

299,969

Maxeon

Solar

Technologies

Ltd.*(b)

1,836

7,362

MaxLinear,

Inc.,

Class

a

A*

4,750

92,340

Navitas

Semiconductor

Corp.,

Class

a

A*

6,821

41,881

NVE

Corp.

298

24,910

Onto

Innovation,

Inc.*

3,058

563,161

PDF

Solutions,

Inc.*

1,912

64,989

Photronics,

Inc.*

3,813

109,776

Power

Integrations,

Inc.

3,548

253,540

Rambus,

Inc.*

6,810

403,424

Semtech

Corp.*

3,991

84,609

Silicon

Laboratories,

Inc.*

1,983

272,742

SiTime

Corp.*

1,086

100,455

SkyWater

Technology,

Inc.*(b)

1,146

13,248

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Stocks

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SMART

Global

Holdings,

Inc.*

3,017

$

64,172

Synaptics,

Inc.*

2,465

246,746

Transphorm,

Inc.*(b)

1,832

8,812

Ultra

Clean

Holdings,

Inc.*

2,777

119,966

Veeco

Instruments,

Inc.*

3,176

115,003

4,774,788

Software

—

4.5%

8x8,

Inc.*

7,499

21,222

A10

Networks,

Inc.

4,411

58,710

ACI

Worldwide,

Inc.*

6,775

222,965

Adeia,

Inc.

6,682

75,774

Agilysys,

Inc.*

1,251

97,328

Alarm.com

Holdings,

Inc.*

2,992

226,464

Alkami

Technology,

Inc.*

2,504

62,475

Altair

Engineering,

Inc.,

Class

a

A*

3,393

288,676

American

Software,

Inc.,

Class

a

A

2,017

22,631

Amplitude,

Inc.,

Class

a

A*

4,227

50,132

Appfolio,

Inc.,

Class

a

A*

1,200

290,508

Appian

Corp.,

Class

a

A*

2,562

89,286

Asana,

Inc.,

Class

a

A*

5,072

99,918

Aurora

Innovation,

Inc.,

Class

a

A*

21,128

53,665

AvePoint,

Inc.*

9,273

74,184

Bit

Digital,

Inc.*(b)

5,500

14,300

Blackbaud,

Inc.*

2,720

188,170

BlackLine,

Inc.*

3,556

201,732

Box,

Inc.,

Class

a

A*

8,805

227,081

Braze,

Inc.,

Class

a

A*

3,271

186,120

C3.ai,

Inc.,

Class

a

A*(b)

5,081

187,845

Cerence,

Inc.*

2,518

37,518

Cipher

Mining,

Inc.*(b)

2,624

7,767

Cleanspark,

Inc.*

9,350

156,332

Clear

Secure,

Inc.,

Class

a

A

5,133

98,810

CommVault

Systems,

Inc.*

2,752

263,394

Consensus

Cloud

Solutions,

Inc.*

1,224

19,486

CoreCard

Corp.*

452

5,768

CS

Disco,

Inc.*

1,411

9,397

CXApp,

Inc.*(b)

136

405

Digimarc

Corp.*(b)

887

31,098

Digital

Turbine,

Inc.*

5,976

18,944

Domo,

Inc.,

Class

a

B*

1,989

22,893

E2open

Parent

Holdings,

Inc.*

10,606

44,863

eGain

Corp.*

1,300

7,969

Enfusion,

Inc.,

Class

a

A*

2,356

20,427

Envestnet,

Inc.*

3,129

161,237

Everbridge,

Inc.*

2,540

71,806

EverCommerce,

Inc.*

1,458

14,274

Expensify,

Inc.,

Class

a

A*

3,447

7,170

Freshworks,

Inc.,

Class

a

A*

10,118

206,812

Instructure

Holdings,

Inc.*

1,218

27,917

Intapp,

Inc.*

1,730

67,868

InterDigital,

Inc.

1,651

176,690

Jamf

Holding

Corp.*

4,416

79,444

Kaltura,

Inc.*

5,259

6,994

LivePerson,

Inc.*

4,899

6,222

LiveRamp

Holdings,

Inc.*

4,109

143,733

Marathon

Digital

Holdings,

Inc.*

13,286

344,107

Matterport,

Inc.*

15,947

33,808

Investments

Shares

Value

Common

Stocks

(a)

(continued)

MeridianLink,

Inc.*

1,639

$

31,075

MicroStrategy,

Inc.,

Class

a

A*

763

780,427

Mitek

Systems,

Inc.*

2,718

31,556

Model

N,

Inc.*

2,373

58,281

N-able,

Inc.*

4,368

58,837

NextNav,

Inc.*(b)

3,460

14,809

Olo,

Inc.,

Class

a

A*

6,458

37,586

ON24,

Inc.

1,938

13,605

OneSpan,

Inc.*

2,502

24,044

PagerDuty,

Inc.*

5,660

136,746

PowerSchool

Holdings,

Inc.,

Class

a

A*

3,500

73,115

Progress

Software

Corp.

2,718

145,032

PROS

Holdings,

Inc.*

2,791

99,778

Q2

Holdings,

Inc.*

3,555

164,348

Qualys,

Inc.*

2,323

399,231

Rapid7,

Inc.*

3,787

221,842

Red

Violet,

Inc.*

695

12,413

Rimini

Street,

Inc.*

3,263

10,539

Riot

Platforms,

Inc.*

11,870

167,604

Sapiens

International

Corp.

NV

1,919

59,048

SEMrush

Holdings,

Inc.,

Class

a

A*

1,956

24,411

SolarWinds

Corp.*

3,180

37,969

SoundHound

AI,

Inc.,

Class

a

A*(b)

8,615

63,923

SoundThinking,

Inc.*

595

10,347

Sprinklr,

Inc.,

Class

a

A*

6,595

85,933

Sprout

Social,

Inc.,

Class

a

A*

2,983

184,409

SPS

Commerce,

Inc.*

2,292

424,387

Tenable

Holdings,

Inc.*

7,132

343,477

Terawulf,

Inc.*(b)

9,239

17,323

Varonis

Systems,

Inc.,

Class

a

B*

6,789

344,881

Verint

Systems,

Inc.*

3,901

123,311

Veritone,

Inc.*(b)

1,652

3,783

Viant

Technology,

Inc.,

Class

a

A*

916

8,326

Weave

Communications,

Inc.*

2,086

26,138

Workiva,

Inc.,

Class

a

A*

3,105

267,403

Xperi,

Inc.*

2,711

29,713

Yext,

Inc.*

6,683

39,563

Zeta

Global

Holdings

Corp.,

Class

a

A*

8,677

91,109

Zuora,

Inc.,

Class

a

A*

8,306

67,112

9,565,773

Specialized

REITs

—

0.3%

Farmland

Partners,

Inc.,

REIT(b)

2,790

32,922

Four

Corners

Property

Trust,

Inc.,

REIT

5,651

136,641

Gladstone

Land

Corp.,

REIT

2,093

27,230

Outfront

Media,

Inc.,

REIT

9,217

132,448

PotlatchDeltic

Corp.,

REIT

4,942

223,428

Safehold,

Inc.,

REIT

3,039

61,145

Uniti

Group,

Inc.,

REIT

14,865

87,109

700,923

Specialty

Retail

—

2.1%

1-800-Flowers.com,

Inc.,

Class

a

A*

1,626

16,943

Aaron's

Co.,

Inc.

(The)

1,880

14,570

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

RUSSELL2000

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

79

UWM

::

Investments

Shares

Value

Common

Stocks

(a)

(continued)

Abercrombie

&

Fitch

Co.,

Class

a

A*

3,049

$

389,540

Academy

Sports

&

Outdoors,

Inc.

4,517

337,510

American

Eagle

Outfitters,

Inc.

11,412

271,035

America's

Car-Mart,

Inc.*

366

24,646

Arko

Corp.

5,073

33,127

Asbury

Automotive

Group,

Inc.*

1,293

270,017

BARK,

Inc.*

8,328

9,994

Beyond,

Inc.*

2,815

94,387

Big

5

Sporting

Goods

Corp.(b)

1,342

6,442

Boot

Barn

Holdings,

Inc.*

1,859

171,957

Buckle,

Inc.

(The)

1,908

78,113

Build-A-Bear

Workshop,

Inc.

821

19,655

Caleres,

Inc.

2,121

81,892

Camping

World

Holdings,

Inc.,

Class

a

A

2,611

69,688

CarParts.com,

Inc.*

3,397

8,662

Carvana

Co.,

Class

a

A*

5,992

454,973

Cato

Corp.

(The),

Class

a

A

1,087

7,185

Children's

Place,

Inc.

(The)*(b)

744

14,315

Designer

Brands,

Inc.,

Class

a

A

2,695

28,459

Destination

XL

Group,

Inc.*

3,509

14,001

Duluth

Holdings,

Inc.,

Class

a

B*

845

4,022

Envela

Corp.*(b)

474

2,038

EVgo,

Inc.,

Class

a

A*(b)

6,461

19,125

Foot

Locker,

Inc.

5,128

176,557

Genesco,

Inc.*

688

21,961

Group

1

Automotive,

Inc.

853

230,864

GrowGeneration

Corp.*

3,672

7,858

Guess?,

Inc.

1,757

44,593

Haverty

Furniture

Cos.,

Inc.

913

31,316

Hibbett,

Inc.

764

62,610

J

Jill,

Inc.*

284

7,097

Lands'

End,

Inc.*

926

9,010

Lazydays

Holdings,

Inc.*

475

1,909

Leslie's,

Inc.*

11,092

87,627

MarineMax,

Inc.*

1,335

44,322

Monro,

Inc.

1,945

65,294

National

Vision

Holdings,

Inc.*

4,851

113,513

ODP

Corp.

(The)*

2,027

114,485

OneWater

Marine,

Inc.,

Class

a

A*

720

18,727

PetMed

Express,

Inc.

1,283

6,492

Rent

the

Runway,

Inc.,

Class

a

A*(b)

3,117

1,265

Revolve

Group,

Inc.,

Class

a

A*(b)

2,562

56,185

Sally

Beauty

Holdings,

Inc.*

6,702

84,646

Shoe

Carnival,

Inc.

1,137

37,259

Signet

Jewelers

Ltd.

2,784

283,300

Sleep

Number

Corp.*

1,335

22,054

Sonic

Automotive,

Inc.,

Class

a

A

916

48,090

Sportsman's

Warehouse

Holdings,

Inc.*

2,338

8,440

Stitch

Fix,

Inc.,

Class

a

A*

5,342

17,255

ThredUp,

Inc.,

Class

a

A*(b)

4,481

8,962

Tile

Shop

Holdings,

Inc.*

1,798

12,496

Tilly's,

Inc.,

Class

a

A*

1,398

10,751

Torrid

Holdings,

Inc.*(b)

753

3,788

Upbound

Group,

Inc.

3,442

116,202

Urban

Outfitters,

Inc.*

3,985

165,577

Investments

Shares

Value

Common

Stocks

(a)

(continued)

Warby

Parker,

Inc.,

Class

a

A*

5,292

$

67,261

Winmark

Corp.

178

67,560

Zumiez,

Inc.*

994

17,514

4,515,136

Technology

Hardware,

Storage

&

Peripherals

—

1.3%

CompoSecure,

Inc.*(b)

1,026

4,966

Corsair

Gaming,

Inc.*

2,307

29,876

CPI

Card

Group,

Inc.*

266

5,027

Eastman

Kodak

Co.*

3,559

19,005

Immersion

Corp.

1,954

13,189

Intevac,

Inc.*

1,616

6,238

IonQ,

Inc.*(b)

10,038

103,994

Super

Micro

Computer,

Inc.*

2,897

2,509,150

Turtle

Beach

Corp.*

1,019

10,883

Xerox

Holdings

Corp.

7,304

136,219

2,838,547

Textiles,

Apparel

&

Luxury

Goods

—

0.4%

Allbirds,

Inc.,

Class

a

A*(b)

6,041

5,497

Figs,

Inc.,

Class

a

A*

7,981

41,741

Fossil

Group,

Inc.*

3,004

3,184

G-III

Apparel

Group

Ltd.*

2,580

85,837

Hanesbrands,

Inc.*

21,980

118,692

Kontoor

Brands,

Inc.

3,510

207,476

Movado

Group,

Inc.

957

27,475

Oxford

Industries,

Inc.

935

94,800

Rocky

Brands,

Inc.

435

10,853

Steven

Madden

Ltd.

4,696

201,083

Vera

Bradley,

Inc.*

1,636

12,761

Wolverine

World

Wide,

Inc.

4,847

49,294

858,693

Tobacco

—

0.1%

Ispire

Technology,

Inc.*(b)

1,107

11,203

Turning

Point

Brands,

Inc.

1,070

27,071

Universal

Corp.

1,506

72,303

Vector

Group

Ltd.

9,078

101,310

211,887

Trading

Companies

&

Distributors

—

1.6%

Alta

Equipment

Group,

Inc.

1,441

16,543

Applied

Industrial

Technologies,

Inc.

2,410

457,635

Beacon

Roofing

Supply,

Inc.*

3,950

339,265

BlueLinx

Holdings,

Inc.*

529

67,104

Boise

Cascade

Co.

2,481

337,193

Custom

Truck

One

Source,

Inc.*

3,541

22,733

Distribution

Solutions

Group,

Inc.*

626

19,663

DNOW,

Inc.*

6,651

94,112

DXP

Enterprises,

Inc.*

849

30,156

EVI

Industries,

Inc.

296

6,373

FTAI

Aviation

Ltd.

6,217

349,955

GATX

Corp.

2,218

281,331

Global

Industrial

Co.

819

35,913

GMS,

Inc.*

2,563

228,902

H&E

Equipment

Services,

Inc.

2,008

113,432

Herc

Holdings,

Inc.

1,766

280,229

ULTRA

RUSSELL2000

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

80

UWM

::

Investments

Shares

Value

Common

Stocks

(a)

(continued)

Hudson

Technologies,

Inc.*

2,736

$

40,082

Karat

Packaging,

Inc.

424

12,546

McGrath

RentCorp

1,542

191,948

MRC

Global,

Inc.*

5,240

60,417

Rush

Enterprises,

Inc.,

Class

a

A

3,847

187,349

Rush

Enterprises,

Inc.,

Class

a

B(b)

570

28,745

Textainer

Group

Holdings

Ltd.

2,524

125,948

Titan

Machinery,

Inc.*

1,285

32,421

Transcat,

Inc.*

513

53,947

Willis

Lease

Finance

Corp.*

184

8,817

Xometry,

Inc.,

Class

a

A*

2,120

41,467

3,464,226

Water

Utilities

—

0.3%

American

States

Water

Co.

2,314

165,243

Artesian

Resources

Corp.,

Class

a

A

571

19,682

Cadiz,

Inc.*(b)

2,530

7,337

California

Water

Service

Group

3,610

165,663

Consolidated

Water

Co.

Ltd.

938

27,727

Global

Water

Resources,

Inc.

718

9,291

Middlesex

Water

Co.

1,095

55,724

Pure

Cycle

Corp.*

1,221

12,173

SJW

Group

1,994

109,790

York

Water

Co.

(The)

889

31,471

604,101

Wireless

Telecommunication

Services

—

0.1%

Gogo,

Inc.*

4,139

33,774

Spok

Holdings,

Inc.

1,110

19,947

Telephone

and

Data

Systems,

Inc.

6,179

94,539

Tingo

Group,

Inc.*(b)

5,282

—

148,260

Total

Common

Stocks

(Cost

$156,458,564)

160,020,664

Number

of

Rights

Rights

—

0.0%(d)

Biotechnology

—

0.0%(d)

Aduro

Biotech,

Inc.,

CVR*(e)(f)

687

—

Cartesian

Therapeutics,

Inc.,

expiring

5/3/2024*(b)(e)(f)

5,386

969

Chinook

Therape,

CVR*(e)(f)

3,154

—

Oncternal

Therapeutics,

Inc.,

CVR*(e)(f)

42

—

Tobira

Therapeutics,

Inc.,

CVR*(e)(f)

756

—

969

Food

Products

—

0.0%(d)

Contraf-Nicotex-Tobacco

GmbH,

CVR*(e)(f)

2,444

1,222

Investments

Number

of

Rights

Value

Rights

(continued)

Pharmaceuticals

—

0.0%(d)

ANI

Pharmaceuticals,

Inc.,

expiring

12/31/2050*(e)(f)

2

$

—

Total

Rights

(Cost

2604)

2,191

Shares

Securities

Lending

Reinvestments

(g)

—

2.0%

Investment

Companies

—

2.0%

Invesco

Government

&

Agency

Portfolio,

Institutional

Class

5.25%

(h)

(Cost

$4,258,253)

4,258,253

4,258,253

Principal

Amount

Short-Term

Investments

—

11.6%

Repurchase

Agreements

(i)

—

11.6%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$24,485,031

(Cost

$24,481,430)

$

24,481,430

24,481,430

Total

Investments

—

89.2%

(Cost

$185,200,851)

188,762,538

Other

assets

less

liabilities

—

10.8%

22,785,792

Net

Assets

—

100.0%

$

211,548,330

*

Non-income

producing

security.

(a)

All

or

a

portion

of

these

securities

are

segregated

in

connection

with

obligations

for

swaps

with

a

total

value

of

$132.

(b)

The

security

or

a

portion

of

this

security

is

on

loan

at

February

29,

2024.

The

total

value

of

securities

on

loan

at

February

29,

2024

was

$4,315,711,

collateralized

in

the

form

of

cash

with

a

value

of

$4,258,253

that

was

reinvested

in

the

securities

shown

in

the

Securities

Lending

Reinvestment

section

of

the

Schedule

of

Portfolio

Investments

and

$235,860

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

6.25%,

and

maturity

dates

ranging

from

March

28,

2024

–

February

15,

2053.

The

total

value

of

collateral

is

$4,494,113.

(c)

Security

exempt

from

registration

pursuant

to

Regulation

S

under

the

Securities

Act

of

1933.

Regulation

S

applies

to

securities

offerings

that

are

made

outside

of

the

United

States

and

do

not

involve

direct

selling

efforts

in

the

United

States

and

as

such

may

have

restrictions

on

resale.

(d)

Represents

less

than

0.05%

of

net

assets.

(e)

Security

fair

valued

as

of

February

29,

2024

in

accordance

with

procedures

approved

by

the

Board

of

Trustees.

Total

value

of

all

such

securities

at

February

29,

2024

amounted

to

$2,191,

which

represents

approximately

0.00%

of

net

assets

of

the

Fund.

(f)

Illiquid

security.

(g)

The

security

was

purchased

with

cash

collateral

held

from

securities

on

loan

at

February

29,

2024.

The

total

value

of

securities

purchased

was

$4,258,253.

(h)

Rate

shown

is

the

7-day

yield

as

of

February

29,

2024.

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

RUSSELL2000

SCHEDULE

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INVESTMENTS

PROSHARES

TRUST

81

UWM

::

(i)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Abbreviations

CVR

Contingent

Value

Rights

-

No

defined

expiration

REIT

Real

Estate

Investment

Trust

Futures

Contracts

Purchased

Ultra

Russell2000

had

the

following

open

long

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

AAAAAA

Expiration

Date

AAAAAA

Trading

Currency

AA

Notional

Amount

AAAAAA

Value

and

Unrealized

Appreciation

AAAAAA

Russell

2000

E-Mini

Index

145

3/15/2024

U.S.

Dollar

$

14,915,425

$

934,966

Swap

Agreements

Ultra

Russell2000

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

($)

22,403,921

3/6/2025

Bank

of

America

NA

5.58%

Russell

2000

®

Index

918,294

30,627,390

11/6/2025

Barclays

Capital

5.83%

Russell

2000

®

Index

4,069,311

38,639,211

2/11/2025

BNP

Paribas

SA

5.58%

Russell

2000

®

Index

6,179,669

29,240,373

3/6/2025

Citibank

NA

5.62%

Russell

2000

®

Index

2,700,937

15,721,581

11/7/2024

Goldman

Sachs

International

5.73%

Russell

2000

®

Index

24,899

12,942,675

3/6/2024

Morgan

Stanley

&

Co.

International

plc

5.78%

iShares

®

Russell

2000

ETF

953,548

25,572,484

3/6/2024

Morgan

Stanley

&

Co.

International

plc

5.78%

Russell

2000

®

Index

1,992,038

38,515,159

2,945,586

38,852,915

11/14/2024

Societe

Generale

5.88%

Russell

2000

®

Index

1,168,511

34,248,018

11/7/2024

UBS

AG

5.33%

Russell

2000

®

Index

1,424,199

248,248,568

19,431,406

Total

Unrealized

Appreciation

19,431,406

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRA

S&P500

®

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

82

SSO

::

Investments

Shares

Value

Common

Stocks

(a)

—

67.0%

Aerospace

&

Defense

—

1.0%

Axon

Enterprise,

Inc.*

4,781

$

1,469,536

Boeing

Co.

(The)*

38,596

7,862,777

General

Dynamics

Corp.

15,373

4,200,672

Howmet

Aerospace,

Inc.

26,548

1,766,769

Huntington

Ingalls

Industries,

Inc.

2,696

786,208

L3Harris

Technologies,

Inc.

12,864

2,722,794

Lockheed

Martin

Corp.

14,986

6,417,605

Northrop

Grumman

Corp.

9,620

4,435,013

RTX

Corp.

97,600

8,751,792

Textron,

Inc.

13,303

1,184,898

TransDigm

Group,

Inc.

3,754

4,421,236

44,019,300

Air

Freight

&

Logistics

—

0.3%

CH

Robinson

Worldwide,

Inc.

7,917

586,491

Expeditors

International

of

Washington,

Inc.

9,867

1,180,093

FedEx

Corp.

15,699

3,908,580

United

Parcel

Service,

Inc.,

Class

a

B

49,087

7,277,639

12,952,803

Automobile

Components

—

0.1%

Aptiv

plc*

19,198

1,526,049

BorgWarner,

Inc.

15,953

496,617

2,022,666

Automobiles

—

1.0%

Ford

Motor

Co.

266,870

3,319,863

General

Motors

Co.

92,946

3,808,927

Tesla,

Inc.*

187,676

37,888,031

45,016,821

Banks

—

2.2%

Bank

of

America

Corp.

467,278

16,130,437

Citigroup,

Inc.

129,894

7,207,818

Citizens

Financial

Group,

Inc.

31,642

993,242

Comerica,

Inc.

8,950

441,951

Fifth

Third

Bancorp

46,220

1,587,195

Huntington

Bancshares,

Inc.

98,280

1,281,571

JPMorgan

Chase

&

Co.

196,211

36,507,019

KeyCorp

63,543

906,759

M&T

Bank

Corp.

11,264

1,574,031

PNC

Financial

Services

Group,

Inc.

(The)

27,035

3,979,552

Regions

Financial

Corp.

63,123

1,175,981

Truist

Financial

Corp.

90,515

3,166,215

US

Bancorp

105,673

4,434,039

Wells

Fargo

&

Co.

246,478

13,701,712

Zions

Bancorp

NA

10,055

396,469

93,483,991

Beverages

—

0.9%

Brown-Forman

Corp.,

Class

a

B

12,419

747,996

Coca-Cola

Co.

(The)

264,085

15,850,382

Investments

Shares

Value

Common

Stocks

(a)

(continued)

Constellation

Brands,

Inc.,

Class

a

A

10,969

$

2,726,016

Keurig

Dr

Pepper,

Inc.

68,331

2,043,780

Molson

Coors

Beverage

Co.,

Class

a

B

12,567

784,432

Monster

Beverage

Corp.*

50,136

2,963,038

PepsiCo,

Inc.

93,311

15,428,041

40,543,685

Biotechnology

—

1.3%

AbbVie,

Inc.

119,826

21,095,367

Amgen,

Inc.

36,322

9,946,053

Biogen,

Inc.*

9,834

2,133,880

Gilead

Sciences,

Inc.

84,568

6,097,353

Incyte

Corp.*

12,624

736,737

Moderna,

Inc.*

22,513

2,076,599

Regeneron

Pharmaceuticals,

Inc.*

7,271

7,024,440

Vertex

Pharmaceuticals,

Inc.*

17,489

7,358,322

56,468,751

Broadline

Retail

—

2.6%

Amazon.com,

Inc.*

617,237

109,102,812

eBay,

Inc.

35,224

1,665,391

Etsy,

Inc.*

8,127

582,624

111,350,827

Building

Products

—

0.3%

A

O

Smith

Corp.

8,336

691,054

Allegion

plc

5,958

761,849

Builders

FirstSource,

Inc.*

8,375

1,634,633

Carrier

Global

Corp.

56,946

3,165,059

Johnson

Controls

International

plc

46,173

2,736,674

Masco

Corp.

15,237

1,169,592

Trane

Technologies

plc

15,501

4,370,817

14,529,678

Capital

Markets

—

1.9%

Ameriprise

Financial,

Inc.

6,868

2,797,748

Bank

of

New

York

Mellon

Corp.

(The)

52,197

2,927,730

BlackRock,

Inc.

9,491

7,700,428

Blackstone,

Inc.

48,224

6,163,992

Cboe

Global

Markets,

Inc.

7,164

1,375,488

Charles

Schwab

Corp.

(The)

101,004

6,745,047

CME

Group,

Inc.

24,432

5,383,591

FactSet

Research

Systems,

Inc.

2,578

1,192,531

Franklin

Resources,

Inc.

19,137

525,311

Goldman

Sachs

Group,

Inc.

(The)

22,133

8,610,844

Intercontinental

Exchange,

Inc.

38,846

5,377,063

Invesco

Ltd.

30,511

470,175

MarketAxess

Holdings,

Inc.

2,573

549,104

Moody's

Corp.

10,681

4,052,585

Morgan

Stanley

85,769

7,379,565

MSCI,

Inc.,

Class

a

A

5,368

3,011,287

Nasdaq,

Inc.

23,103

1,298,389

Northern

Trust

Corp.

14,051

1,154,009

Raymond

James

Financial,

Inc.

12,754

1,534,561

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Common

Stocks

(a)

(continued)

S&P

Global,

Inc.

21,990

$

9,420,076

State

Street

Corp.

20,943

1,544,127

T.

Rowe

Price

Group,

Inc.

15,167

1,719,179

80,932,830

Chemicals

—

1.0%

Air

Products

and

Chemicals,

Inc.

15,077

3,528,621

Albemarle

Corp.

7,965

1,097,975

Celanese

Corp.,

Class

a

A

6,797

1,032,940

CF

Industries

Holdings,

Inc.

12,967

1,046,696

Corteva,

Inc.

47,821

2,559,380

Dow,

Inc.

47,603

2,660,056

DuPont

de

Nemours,

Inc.

29,183

2,019,172

Eastman

Chemical

Co.

8,047

706,044

Ecolab,

Inc.

17,224

3,872,644

FMC

Corp.

8,467

477,454

International

Flavors

&

Fragrances,

Inc.

17,326

1,308,113

Linde

plc

32,909

14,770,217

LyondellBasell

Industries

NV,

Class

a

A

17,391

1,743,970

Mosaic

Co.

(The)

22,182

691,191

PPG

Industries,

Inc.

16,004

2,266,166

Sherwin-Williams

Co.

(The)

15,982

5,306,504

45,087,143

Commercial

Services

&

Supplies

—

0.4%

Cintas

Corp.

5,876

3,693,712

Copart,

Inc.*

59,302

3,151,901

Republic

Services,

Inc.,

Class

a

A

13,880

2,548,368

Rollins,

Inc.

19,054

839,710

Veralto

Corp.

14,878

1,285,757

Waste

Management,

Inc.

24,876

5,115,750

16,635,198

Communications

Equipment

—

0.5%

Arista

Networks,

Inc.*

17,102

4,746,489

Cisco

Systems,

Inc.

274,880

13,295,946

F5,

Inc.*

4,052

758,615

Juniper

Networks,

Inc.

21,641

801,366

Motorola

Solutions,

Inc.

11,264

3,721,513

23,323,929

Construction

&

Engineering

—

0.1%

Quanta

Services,

Inc.

9,860

2,381,289

Construction

Materials

—

0.1%

Martin

Marietta

Materials,

Inc.

4,195

2,423,494

Vulcan

Materials

Co.

9,018

2,397,435

4,820,929

Consumer

Finance

—

0.4%

American

Express

Co.

39,073

8,573,398

Capital

One

Financial

Corp.

25,848

3,556,943

Discover

Financial

Services

16,971

2,048,400

Synchrony

Financial

28,085

1,159,910

15,338,651

Investments

Shares

Value

Common

Stocks

(a)

(continued)

Consumer

Staples

Distribution

&

Retail

—

1.3%

Costco

Wholesale

Corp.

30,049

$

22,353,151

Dollar

General

Corp.

14,896

2,164,538

Dollar

Tree,

Inc.*

14,180

2,079,922

Kroger

Co.

(The)

44,914

2,228,184

Sysco

Corp.

34,220

2,770,793

Target

Corp.

31,329

4,790,831

Walgreens

Boots

Alliance,

Inc.

48,666

1,034,639

Walmart,

Inc.

290,453

17,023,450

54,445,508

Containers

&

Packaging

—

0.1%

Amcor

plc

98,095

888,741

Avery

Dennison

Corp.

5,466

1,183,553

Ball

Corp.

21,399

1,369,964

International

Paper

Co.

23,484

830,394

Packaging

Corp.

of

America

6,083

1,102,179

Westrock

Co.

17,402

788,136

6,162,967

Distributors

—

0.1%

Genuine

Parts

Co.

9,515

1,420,209

LKQ

Corp.

18,162

949,691

Pool

Corp.

2,625

1,045,065

3,414,965

Diversified

Telecommunication

Services

—

0.5%

AT&T,

Inc.

485,268

8,215,587

Verizon

Communications,

Inc.

285,330

11,418,907

19,634,494

Electric

Utilities

—

1.0%

Alliant

Energy

Corp.

17,319

826,982

American

Electric

Power

Co.,

Inc.

35,691

3,040,516

Constellation

Energy

Corp.

21,676

3,651,322

Duke

Energy

Corp.

52,308

4,803,444

Edison

International

26,014

1,769,472

Entergy

Corp.

14,353

1,457,834

Evergy,

Inc.

15,591

772,378

Eversource

Energy

23,709

1,391,718

Exelon

Corp.

67,560

2,421,351

FirstEnergy

Corp.

35,050

1,283,181

NextEra

Energy,

Inc.

139,248

7,685,097

NRG

Energy,

Inc.

15,322

847,613

PG&E

Corp.

144,800

2,416,712

Pinnacle

West

Capital

Corp.

7,696

525,868

PPL

Corp.

50,028

1,319,239

Southern

Co.

(The)

74,020

4,977,845

Xcel

Energy,

Inc.

37,451

1,973,293

41,163,865

Electrical

Equipment

—

0.4%

AMETEK,

Inc.

15,664

2,822,339

Eaton

Corp.

plc

27,100

7,831,900

Emerson

Electric

Co.

38,692

4,134,240

Generac

Holdings,

Inc.*

4,169

469,054

Hubbell,

Inc.,

Class

a

B

3,640

1,385,639

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Common

Stocks

(a)

(continued)

Rockwell

Automation,

Inc.

7,783

$

2,218,778

18,861,950

Electronic

Equipment,

Instruments

&

Components

—

0.4%

Amphenol

Corp.,

Class

a

A

40,607

4,435,909

CDW

Corp.

9,092

2,238,541

Corning,

Inc.

52,114

1,680,155

Jabil,

Inc.

8,684

1,251,278

Keysight

Technologies,

Inc.*

12,052

1,859,624

TE

Connectivity

Ltd.

21,092

3,027,967

Teledyne

Technologies,

Inc.*

3,202

1,368,119

Trimble,

Inc.*

16,884

1,033,132

Zebra

Technologies

Corp.,

Class

a

A*

3,486

974,267

17,868,992

Energy

Equipment

&

Services

—

0.2%

Baker

Hughes

Co.,

Class

a

A

68,293

2,020,790

Halliburton

Co.

60,747

2,130,397

Schlumberger

NV

96,949

4,685,545

8,836,732

Entertainment

—

0.9%

Electronic

Arts,

Inc.

16,612

2,317,042

Live

Nation

Entertainment,

Inc.*

9,630

933,917

Netflix,

Inc.*

29,705

17,909,738

Take-Two

Interactive

Software,

Inc.*

10,734

1,577,147

Walt

Disney

Co.

(The)

124,186

13,856,674

Warner

Bros

Discovery,

Inc.*

150,609

1,323,853

37,918,371

Financial

Services

—

2.9%

Berkshire

Hathaway,

Inc.,

Class

a

B*

123,485

50,554,759

Fidelity

National

Information

Services,

Inc.

40,212

2,782,268

Fiserv,

Inc.*

40,734

6,080,364

FleetCor

Technologies,

Inc.*

4,900

1,368,423

Global

Payments,

Inc.

17,672

2,292,058

Jack

Henry

&

Associates,

Inc.

4,943

858,945

Mastercard,

Inc.,

Class

a

A

56,202

26,682,462

PayPal

Holdings,

Inc.*

73,173

4,415,259

Visa,

Inc.,

Class

a

A

108,184

30,577,126

125,611,664

Food

Products

—

0.5%

Archer-Daniels-Midland

Co.

36,200

1,922,582

Bunge

Global

SA

9,861

930,583

Campbell

Soup

Co.

13,332

568,476

Conagra

Brands,

Inc.

32,439

910,887

General

Mills,

Inc.

39,451

2,531,965

Hershey

Co.

(The)

10,173

1,911,710

Hormel

Foods

Corp.

19,657

694,285

J

M

Smucker

Co.

(The)

7,203

865,585

Kellanova

17,900

987,185

Kraft

Heinz

Co.

(The)

54,109

1,908,966

Lamb

Weston

Holdings,

Inc.

9,836

1,005,338

McCormick

&

Co.,

Inc.

(Non-Voting)

17,055

1,174,407

Investments

Shares

Value

Common

Stocks

(a)

(continued)

Mondelez

International,

Inc.,

Class

a

A

92,331

$

6,746,626

Tyson

Foods,

Inc.,

Class

a

A

19,358

1,049,978

23,208,573

Gas

Utilities

—

0.0%(b)

Atmos

Energy

Corp.

10,078

1,137,907

Ground

Transportation

—

0.8%

CSX

Corp.

134,119

5,088,475

JB

Hunt

Transport

Services,

Inc.

5,530

1,140,894

Norfolk

Southern

Corp.

15,348

3,888,876

Old

Dominion

Freight

Line,

Inc.

6,073

2,687,181

Uber

Technologies,

Inc.*

139,666

11,103,447

Union

Pacific

Corp.

41,373

10,495,917

34,404,790

Health

Care

Equipment

&

Supplies

—

1.7%

Abbott

Laboratories

117,778

13,973,182

Align

Technology,

Inc.*

4,834

1,461,898

Baxter

International,

Inc.

34,432

1,408,957

Becton

Dickinson

&

Co.

19,690

4,637,980

Boston

Scientific

Corp.*

99,376

6,579,685

Cooper

Cos.,

Inc.

(The)

13,445

1,258,452

DENTSPLY

SIRONA,

Inc.

14,379

469,906

Dexcom,

Inc.*

26,223

3,017,481

Edwards

Lifesciences

Corp.*

41,163

3,493,504

GE

HealthCare

Technologies,

Inc.

27,505

2,510,656

Hologic,

Inc.*

16,624

1,226,851

IDEXX

Laboratories,

Inc.*

5,640

3,244,297

Insulet

Corp.*

4,739

777,196

Intuitive

Surgical,

Inc.*

23,895

9,213,912

Medtronic

plc

90,303

7,527,658

ResMed,

Inc.

9,983

1,734,247

STERIS

plc

6,706

1,561,895

Stryker

Corp.

22,947

8,010,109

Teleflex,

Inc.

3,189

710,477

Zimmer

Biomet

Holdings,

Inc.

14,183

1,763,798

74,582,141

Health

Care

Providers

&

Services

—

1.8%

Cardinal

Health,

Inc.

16,728

1,873,201

Cencora,

Inc.

11,314

2,665,578

Centene

Corp.*

36,256

2,843,558

Cigna

Group

(The)

19,860

6,675,740

CVS

Health

Corp.

87,171

6,482,907

DaVita,

Inc.*

3,656

464,202

Elevance

Health,

Inc.

15,947

7,993,434

HCA

Healthcare,

Inc.

13,443

4,190,183

Henry

Schein,

Inc.*

8,863

677,754

Humana,

Inc.

8,355

2,926,924

Laboratory

Corp.

of

America

Holdings

5,762

1,243,612

McKesson

Corp.

9,031

4,708,854

Molina

Healthcare,

Inc.*

3,957

1,558,702

Quest

Diagnostics,

Inc.

7,631

953,036

UnitedHealth

Group,

Inc.

62,774

30,985,246

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Common

Stocks

(a)

(continued)

Universal

Health

Services,

Inc.,

Class

a

B

4,141

$

691,796

76,934,727

Health

Care

REITs

—

0.1%

Healthpeak

Properties,

Inc.,

REIT

47,536

796,228

Ventas,

Inc.,

REIT

27,309

1,154,898

Welltower,

Inc.,

REIT

37,564

3,461,898

5,413,024

Hotel

&

Resort

REITs

—

0.0%(b)

Host

Hotels

&

Resorts,

Inc.,

REIT

47,878

992,990

Hotels,

Restaurants

&

Leisure

—

1.4%

Airbnb,

Inc.,

Class

a

A*

29,506

4,646,310

Booking

Holdings,

Inc.*

2,368

8,214,189

Caesars

Entertainment,

Inc.*

14,640

636,401

Carnival

Corp.*

68,379

1,084,491

Chipotle

Mexican

Grill,

Inc.,

Class

a

A*

1,863

5,009,179

Darden

Restaurants,

Inc.

8,166

1,394,018

Domino's

Pizza,

Inc.

2,367

1,061,244

Expedia

Group,

Inc.*

9,049

1,238,084

Hilton

Worldwide

Holdings,

Inc.

17,404

3,555,985

Las

Vegas

Sands

Corp.

25,054

1,365,944

Marriott

International,

Inc.,

Class

a

A

16,743

4,183,573

McDonald's

Corp.

49,229

14,388,652

MGM

Resorts

International*

18,546

802,671

Norwegian

Cruise

Line

Holdings

Ltd.*

28,873

559,848

Royal

Caribbean

Cruises

Ltd.*

15,999

1,973,477

Starbucks

Corp.

77,548

7,359,305

Wynn

Resorts

Ltd.

6,516

685,483

Yum!

Brands,

Inc.

19,024

2,633,302

60,792,156

Household

Durables

—

0.3%

DR

Horton,

Inc.

20,453

3,056,496

Garmin

Ltd.

10,388

1,426,792

Lennar

Corp.,

Class

a

A

16,978

2,691,183

Mohawk

Industries,

Inc.*

3,587

425,490

NVR,

Inc.*

216

1,647,123

PulteGroup,

Inc.

14,632

1,585,816

Whirlpool

Corp.

3,723

399,813

11,232,713

Household

Products

—

0.8%

Church

&

Dwight

Co.,

Inc.

16,722

1,674,207

Clorox

Co.

(The)

8,416

1,290,257

Colgate-Palmolive

Co.

55,882

4,834,911

Kimberly-Clark

Corp.

22,936

2,779,155

Procter

&

Gamble

Co.

(The)

159,961

25,424,201

36,002,731

Independent

Power

and

Renewable

Electricity

Producers

—

0.0%(b)

AES

Corp.

(The)

45,447

690,794

Investments

Shares

Value

Common

Stocks

(a)

(continued)

Industrial

Conglomerates

—

0.6%

3M

Co.

37,485

$

3,453,118

General

Electric

Co.

73,868

11,589,151

Honeywell

International,

Inc.

44,743

8,891,776

23,934,045

Industrial

REITs

—

0.2%

Prologis,

Inc.,

REIT

62,709

8,357,228

Insurance

—

1.4%

Aflac,

Inc.

36,092

2,914,068

Allstate

Corp.

(The)

17,761

2,833,235

American

International

Group,

Inc.

47,647

3,472,990

Aon

plc,

Class

a

A

13,589

4,293,988

Arch

Capital

Group

Ltd.*

25,327

2,218,392

Arthur

J

Gallagher

&

Co.

14,653

3,574,306

Assurant,

Inc.

3,569

647,595

Brown

&

Brown,

Inc.

16,032

1,350,055

Chubb

Ltd.

27,690

6,968,742

Cincinnati

Financial

Corp.

10,649

1,213,986

Everest

Group

Ltd.

2,946

1,086,720

Globe

Life,

Inc.

5,813

737,844

Hartford

Financial

Services

Group,

Inc.

(The)

20,413

1,956,382

Loews

Corp.

12,425

933,490

Marsh

&

McLennan

Cos.,

Inc.

33,465

6,768,966

MetLife,

Inc.

42,198

2,942,889

Principal

Financial

Group,

Inc.

14,886

1,203,682

Progressive

Corp.

(The)

39,706

7,526,669

Prudential

Financial,

Inc.

24,501

2,670,364

Travelers

Cos.,

Inc.

(The)

15,501

3,425,101

W

R

Berkley

Corp.

13,826

1,155,854

Willis

Towers

Watson

plc

7,008

1,910,451

61,805,769

Interactive

Media

&

Services

—

4.1%

Alphabet,

Inc.,

Class

a

A*

401,681

55,616,751

Alphabet,

Inc.,

Class

a

C*

338,041

47,251,371

Match

Group,

Inc.*

18,448

664,866

Meta

Platforms,

Inc.,

Class

a

A

150,644

73,835,144

177,368,132

IT

Services

—

0.8%

Accenture

plc,

Class

a

A

42,596

15,964,129

Akamai

Technologies,

Inc.*

10,237

1,135,488

Cognizant

Technology

Solutions

Corp.,

Class

a

A

34,031

2,689,130

EPAM

Systems,

Inc.*

3,916

1,192,030

Gartner,

Inc.*

5,290

2,462,812

International

Business

Machines

Corp.

61,963

11,465,014

VeriSign,

Inc.*

6,029

1,177,404

36,086,007

Leisure

Products

—

0.0%(b)

Hasbro,

Inc.

8,851

445,117

ULTRA

S&P500

®

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

86

SSO

::

Investments

Shares

Value

Common

Stocks

(a)

(continued)

Life

Sciences

Tools

&

Services

—

1.0%

Agilent

Technologies,

Inc.

19,858

$

2,727,695

Bio-Rad

Laboratories,

Inc.,

Class

a

A*

1,421

463,075

Bio-Techne

Corp.

10,734

789,700

Charles

River

Laboratories

International,

Inc.*

3,482

885,090

Danaher

Corp.

44,634

11,298,651

Illumina,

Inc.*

10,778

1,507,088

IQVIA

Holdings,

Inc.*

12,428

3,071,704

Mettler-Toledo

International,

Inc.*

1,472

1,835,908

Revvity,

Inc.

8,376

917,926

Thermo

Fisher

Scientific,

Inc.

26,223

14,951,830

Waters

Corp.*

4,013

1,354,066

West

Pharmaceutical

Services,

Inc.

5,022

1,799,684

41,602,417

Machinery

—

1.2%

Caterpillar,

Inc.

34,623

11,562,697

Cummins,

Inc.

9,620

2,584,028

Deere

&

Co.

18,178

6,635,879

Dover

Corp.

9,494

1,570,118

Fortive

Corp.

23,852

2,030,521

IDEX

Corp.

5,133

1,210,875

Illinois

Tool

Works,

Inc.

18,583

4,871,533

Ingersoll

Rand,

Inc.

27,473

2,509,109

Nordson

Corp.

3,676

976,529

Otis

Worldwide

Corp.

27,776

2,647,053

PACCAR,

Inc.

35,501

3,936,706

Parker-Hannifin

Corp.

8,720

4,669,124

Pentair

plc

11,219

872,726

Snap-on,

Inc.

3,582

987,414

Stanley

Black

&

Decker,

Inc.

10,405

929,063

Westinghouse

Air

Brake

Technologies

Corp.

12,159

1,717,945

Xylem,

Inc.

16,362

2,078,792

51,790,112

Media

—

0.4%

Charter

Communications,

Inc.,

Class

a

A*

6,827

2,006,660

Comcast

Corp.,

Class

a

A

272,539

11,678,296

Fox

Corp.,

Class

a

A

16,779

499,846

Fox

Corp.,

Class

a

B

8,954

245,161

Interpublic

Group

of

Cos.,

Inc.

(The)

25,990

816,086

News

Corp.,

Class

a

A

25,830

694,310

News

Corp.,

Class

a

B

7,792

218,098

Omnicom

Group,

Inc.

13,435

1,187,520

Paramount

Global,

Class

a

B(c)

32,744

361,494

17,707,471

Metals

&

Mining

—

0.3%

Freeport-McMoRan,

Inc.

97,323

3,679,783

Newmont

Corp.

78,219

2,444,344

Nucor

Corp.

16,685

3,208,525

Investments

Shares

Value

Common

Stocks

(a)

(continued)

Steel

Dynamics,

Inc.

10,323

$

1,381,424

10,714,076

Multi-Utilities

—

0.4%

Ameren

Corp.

17,846

1,270,457

CenterPoint

Energy,

Inc.

42,841

1,178,127

CMS

Energy

Corp.

19,802

1,136,041

Consolidated

Edison,

Inc.

23,430

2,043,330

Dominion

Energy,

Inc.

56,793

2,716,409

DTE

Energy

Co.

13,993

1,516,142

NiSource,

Inc.

28,047

730,905

Public

Service

Enterprise

Group,

Inc.

33,820

2,110,368

Sempra

42,718

3,015,891

WEC

Energy

Group,

Inc.

21,408

1,680,314

17,397,984

Office

REITs

—

0.0%(b)

Alexandria

Real

Estate

Equities,

Inc.,

REIT

10,615

1,324,009

Boston

Properties,

Inc.,

REIT

9,799

634,191

1,958,200

Oil,

Gas

&

Consumable

Fuels

—

2.3%

APA

Corp.

20,817

620,138

Chevron

Corp.

119,152

18,112,295

ConocoPhillips

80,589

9,069,486

Coterra

Energy,

Inc.

51,051

1,316,095

Devon

Energy

Corp.

43,484

1,915,905

Diamondback

Energy,

Inc.

12,148

2,217,253

EOG

Resources,

Inc.

39,578

4,530,098

EQT

Corp.

27,917

1,037,117

Exxon

Mobil

Corp.

271,863

28,415,121

Hess

Corp.

18,762

2,734,561

Kinder

Morgan,

Inc.

131,247

2,282,385

Marathon

Oil

Corp.

39,720

963,210

Marathon

Petroleum

Corp.

25,770

4,361,057

Occidental

Petroleum

Corp.

44,813

2,716,116

ONEOK,

Inc.

39,537

2,970,019

Phillips

66

29,860

4,255,349

Pioneer

Natural

Resources

Co.

15,835

3,724,234

Targa

Resources

Corp.

15,133

1,486,666

Valero

Energy

Corp.

23,106

3,268,575

Williams

Cos.,

Inc.

(The)

82,563

2,967,314

98,962,994

Passenger

Airlines

—

0.1%

American

Airlines

Group,

Inc.*

44,355

695,486

Delta

Air

Lines,

Inc.

43,671

1,845,973

Southwest

Airlines

Co.

40,458

1,386,496

United

Airlines

Holdings,

Inc.*

22,260

1,012,608

4,940,563

Personal

Care

Products

—

0.1%

Estee

Lauder

Cos.,

Inc.

(The),

Class

a

A

15,766

2,342,512

Kenvue,

Inc.

116,973

2,222,487

4,564,999

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

S&P500

®

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

87

SSO

::

Investments

Shares

Value

Common

Stocks

(a)

(continued)

Pharmaceuticals

—

2.6%

Bristol-Myers

Squibb

Co.

138,098

$

7,008,473

Catalent,

Inc.*

12,235

701,555

Eli

Lilly

&

Co.

54,120

40,789,161

Johnson

&

Johnson

163,381

26,366,426

Merck

&

Co.,

Inc.

171,983

21,867,638

Pfizer,

Inc.

383,219

10,178,297

Viatris,

Inc.

81,421

1,007,178

Zoetis,

Inc.,

Class

a

A

31,160

6,179,963

114,098,691

Professional

Services

—

0.5%

Automatic

Data

Processing,

Inc.

27,915

7,010,294

Broadridge

Financial

Solutions,

Inc.

7,985

1,625,586

Dayforce,

Inc.*

10,586

738,479

Equifax,

Inc.

8,363

2,288,033

Jacobs

Solutions,

Inc.

8,546

1,253,271

Leidos

Holdings,

Inc.

9,332

1,193,190

Paychex,

Inc.

21,820

2,675,568

Paycom

Software,

Inc.

3,329

607,176

Robert

Half,

Inc.

7,187

577,835

Verisk

Analytics,

Inc.,

Class

a

A

9,843

2,381,022

20,350,454

Real

Estate

Management

&

Development

—

0.1%

CBRE

Group,

Inc.,

Class

a

A*

20,686

1,900,837

CoStar

Group,

Inc.*

27,715

2,412,036

4,312,873

Residential

REITs

—

0.2%

AvalonBay

Communities,

Inc.,

REIT

9,638

1,706,215

Camden

Property

Trust,

REIT

7,246

684,602

Equity

Residential,

REIT

23,452

1,412,045

Essex

Property

Trust,

Inc.,

REIT

4,356

1,007,978

Invitation

Homes,

Inc.,

REIT

39,041

1,330,127

Mid-America

Apartment

Communities,

Inc.,

REIT

7,920

995,386

UDR,

Inc.,

REIT

20,538

729,099

7,865,452

Retail

REITs

—

0.2%

Federal

Realty

Investment

Trust,

REIT

4,986

502,838

Kimco

Realty

Corp.,

REIT

45,134

891,848

Realty

Income

Corp.,

REIT

56,441

2,941,140

Regency

Centers

Corp.,

REIT

11,149

690,681

Simon

Property

Group,

Inc.,

REIT

22,142

3,280,116

8,306,623

Semiconductors

&

Semiconductor

Equipment

—

6.6%

Advanced

Micro

Devices,

Inc.*

109,656

21,111,975

Analog

Devices,

Inc.

33,820

6,487,352

Applied

Materials,

Inc.

56,778

11,447,580

Broadcom,

Inc.

29,791

38,742,898

Enphase

Energy,

Inc.*

9,268

1,177,129

Investments

Shares

Value

Common

Stocks

(a)

(continued)

First

Solar,

Inc.*

7,251

$

1,115,856

Intel

Corp.

286,138

12,318,241

KLA

Corp.

9,226

6,294,900

Lam

Research

Corp.

8,945

8,392,646

Microchip

Technology,

Inc.

36,720

3,089,621

Micron

Technology,

Inc.

74,523

6,752,529

Monolithic

Power

Systems,

Inc.

3,252

2,341,570

NVIDIA

Corp.

167,638

132,621,775

NXP

Semiconductors

NV

17,494

4,368,777

ON

Semiconductor

Corp.*

29,231

2,306,910

Qorvo,

Inc.*

6,607

756,832

QUALCOMM,

Inc.

75,539

11,919,299

Skyworks

Solutions,

Inc.

10,818

1,135,024

Teradyne,

Inc.

10,376

1,074,850

Texas

Instruments,

Inc.

61,639

10,314,054

283,769,818

Software

—

7.3%

Adobe,

Inc.*

30,901

17,313,212

ANSYS,

Inc.*

5,890

1,968,261

Autodesk,

Inc.*

14,508

3,745,530

Cadence

Design

Systems,

Inc.*

18,465

5,620,377

Fair

Isaac

Corp.*

1,677

2,129,639

Fortinet,

Inc.*

43,258

2,989,560

Gen

Digital,

Inc.

38,267

822,358

Intuit,

Inc.

19,021

12,608,831

Microsoft

Corp.

504,473

208,670,212

Oracle

Corp.

107,834

12,042,901

Palo

Alto

Networks,

Inc.*

21,095

6,551,052

PTC,

Inc.*

8,065

1,475,976

Roper

Technologies,

Inc.

7,250

3,949,293

Salesforce,

Inc.*

66,037

20,393,546

ServiceNow,

Inc.*

13,913

10,731,653

Synopsys,

Inc.*

10,322

5,922,041

Tyler

Technologies,

Inc.*

2,856

1,248,472

318,182,914

Specialized

REITs

—

0.7%

American

Tower

Corp.,

REIT

31,638

6,291,533

Crown

Castle,

Inc.,

REIT

29,455

3,238,283

Digital

Realty

Trust,

Inc.,

REIT

20,554

3,017,533

Equinix,

Inc.,

REIT

6,372

5,663,561

Extra

Space

Storage,

Inc.,

REIT

14,339

2,021,369

Iron

Mountain,

Inc.,

REIT

19,817

1,558,409

Public

Storage,

REIT

10,741

3,049,047

SBA

Communications

Corp.,

Class

a

A,

REIT

7,322

1,531,982

VICI

Properties,

Inc.,

Class

a

A,

REIT

70,213

2,101,475

Weyerhaeuser

Co.,

REIT

49,545

1,703,357

30,176,549

Specialty

Retail

—

1.4%

AutoZone,

Inc.*

1,197

3,598,206

Bath

&

Body

Works,

Inc.

15,432

705,242

Best

Buy

Co.,

Inc.

13,146

1,063,248

CarMax,

Inc.*

10,769

850,751

Home

Depot,

Inc.

(The)

67,874

25,833,523

Lowe's

Cos.,

Inc.

39,168

9,426,563

O'Reilly

Automotive,

Inc.*

4,015

4,365,991

ULTRA

S&P500

®

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

88

SSO

::

Investments

Shares

Value

Common

Stocks

(a)

(continued)

Ross

Stores,

Inc.

22,983

$

3,423,548

TJX

Cos.,

Inc.

(The)

77,648

7,698,023

Tractor

Supply

Co.

7,338

1,866,200

Ulta

Beauty,

Inc.*

3,341

1,832,739

60,664,034

Technology

Hardware,

Storage

&

Peripherals

—

4.3%

Apple,

Inc.

992,224

179,344,488

Hewlett

Packard

Enterprise

Co.

87,067

1,326,030

HP,

Inc.

59,025

1,672,178

NetApp,

Inc.

14,171

1,262,920

Seagate

Technology

Holdings

plc

13,201

1,228,353

Western

Digital

Corp.*

22,006

1,308,697

186,142,666

Textiles,

Apparel

&

Luxury

Goods

—

0.3%

Lululemon

Athletica,

Inc.*

7,815

3,650,308

NIKE,

Inc.,

Class

a

B

83,073

8,633,777

Ralph

Lauren

Corp.,

Class

a

A

2,698

501,612

Tapestry,

Inc.

15,555

739,329

VF

Corp.

22,434

366,572

13,891,598

Tobacco

—

0.3%

Altria

Group,

Inc.

120,037

4,910,714

Philip

Morris

International,

Inc.

105,361

9,478,275

14,388,989

Trading

Companies

&

Distributors

—

0.2%

Fastenal

Co.

38,782

2,831,474

United

Rentals,

Inc.

4,600

3,189,042

WW

Grainger,

Inc.

2,998

2,918,433

8,938,949

Water

Utilities

—

0.0%(b)

American

Water

Works

Co.,

Inc.

13,215

1,566,506

Wireless

Telecommunication

Services

—

0.1%

T-Mobile

US,

Inc.

34,535

5,639,565

Total

Common

Stocks

(Cost

$3,022,973,421)

2,904,151,340

Securities

Lending

Reinvestments

(d)

—

0.0%

(b)

Investment

Companies

—

0.0%

(b)

Invesco

Government

&

Agency

Portfolio,

Institutional

Class

5.25%

(e)

(Cost

$10,649)

10,649

10,649

Investments

Principal

Amount

Value

Short-Term

Investments

—

16.2%

Repurchase

Agreements

(f)

—

2.4%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$105,027,899

(Cost

$105,012,450)

$

105,012,450

$

105,012,450

U.S.

Treasury

Obligations

(a)

—

13.8%

U.S.

Treasury

Bills

5.29%,

3/5/2024

(g)

100,000,000

99,941,494

5.27%,

3/12/2024

(g)

100,000,000

99,838,850

5.44%,

3/21/2024

(g)

150,000,000

149,559,584

5.46%,

3/28/2024

(g)

75,000,000

74,703,281

5.32%,

4/25/2024

(g)

25,000,000

24,798,314

5.30%,

5/21/2024

(g)

150,000,000

148,236,393

Total

U.S.

Treasury

Obligations

(Cost

$597,082,817)

597,077,916

Total

Short-Term

Investments

(Cost

$702,095,267)

702,090,366

Total

Investments

—

83.2%

(Cost

$3,725,079,337)

3,606,252,355

Other

assets

less

liabilities

—

16.8%

728,397,936

Net

Assets

—

100.0%

$

4,334,650,291

*

Non-income

producing

security.

(a)

All

or

a

portion

of

these

securities

are

segregated

in

connection

with

obligations

for

swaps

with

a

total

value

of

$315,140,972.

(b)

Represents

less

than

0.05%

of

net

assets.

(c)

The

security

or

a

portion

of

this

security

is

on

loan

at

February

29,

2024.

The

total

value

of

securities

on

loan

at

February

29,

2024

was

$10,223,

collateralized

in

the

form

of

cash

with

a

value

of

$10,649

that

was

reinvested

in

the

securities

shown

in

the

Securities

Lending

Reinvestment

section

of

the

Schedule

of

Portfolio

Investments.

(d)

The

security

was

purchased

with

cash

collateral

held

from

securities

on

loan

at

February

29,

2024.

The

total

value

of

securities

purchased

was

$10,649.

(e)

Rate

shown

is

the

7-day

yield

as

of

February

29,

2024.

(f)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

(g)

The

rate

shown

was

the

current

yield

as

of

February

29,

2024.

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

S&P500

®

SCHEDULE

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TRUST

89

SSO

::

Futures

Contracts

Purchased

Ultra

S&P500

®

had

the

following

open

long

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

AAAAAA

Expiration

Date

AAAAAA

Trading

Currency

AA

Notional

Amount

AAAAAA

Value

and

Unrealized

Appreciation

AAAAAA

S&P

500

E-Mini

Index

1,149

3/15/2024

U.S.

Dollar

$

293,210,438

$

25,568,209

Swap

Agreements

Ultra

S&P500

®

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

($)

545,688,207

3/6/2025

Bank

of

America

NA

5.93%

S&P

500

®

64,691,236

976,965,152

2/11/2025

BNP

Paribas

SA

5.93%

S&P

500

®

120,838,466

395,098,524

3/6/2025

Citibank

NA

5.93%

S&P

500

®

59,642,275

611,613,555

11/6/2025

Goldman

Sachs

International

5.93%

S&P

500

®

16,537,555

1,470,027,891

12/6/2025

Goldman

Sachs

International

5.84%

SPDR

®

S&P

500

®

ETF

Trust

37,621,349

2,081,641,446

54,158,904

152,974,737

4/7/2025

J.P.

Morgan

Securities

5.83%

S&P

500

®

14,706,437

223,471,439

3/6/2025

Morgan

Stanley

&

Co.

International

plc

5.88%

S&P

500

®

43,456,075

700,115,380

11/6/2025

Societe

Generale

5.98%

S&P

500

®

96,177,492

395,327,856

11/7/2024

UBS

AG

5.83%

S&P

500

®

53,158,917

5,471,282,741

506,829,802

Total

Unrealized

Appreciation

506,829,802

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRA

SEMICONDUCTORS

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

90

USD

::

Investments

Shares

Value

Common

Stocks

—

62

.0

%

Semiconductors

&

Semiconductor

Equipment

—

62.0%

Advanced

Micro

Devices,

Inc.*

151,013

$

29,074,533

Allegro

MicroSystems,

Inc.*

6,659

209,692

Amkor

Technology,

Inc.

9,654

299,467

Analog

Devices,

Inc.

46,580

8,934,976

Applied

Materials,

Inc.

78,194

15,765,474

Axcelis

Technologies,

Inc.*

3,062

344,996

Broadcom,

Inc.

41,026

53,353,903

Cirrus

Logic,

Inc.*

5,042

462,956

Enphase

Energy,

Inc.*

12,761

1,620,775

Entegris,

Inc.

14,034

1,885,608

GLOBALFOUNDRIES,

Inc.*(a)

7,755

423,966

Intel

Corp.

394,069

16,964,670

KLA

Corp.

12,712

8,673,398

Lam

Research

Corp.

12,322

11,561,116

Lattice

Semiconductor

Corp.*

12,903

988,499

Marvell

Technology,

Inc.

80,652

5,779,522

Microchip

Technology,

Inc.

50,578

4,255,633

Micron

Technology,

Inc.

102,609

9,297,401

MKS

Instruments,

Inc.

5,871

720,724

Monolithic

Power

Systems,

Inc.

4,483

3,227,939

NVIDIA

Corp.

230,867

182,643,501

NXP

Semiconductors

NV

24,087

6,015,247

ON

Semiconductor

Corp.*

40,262

3,177,477

Power

Integrations,

Inc.

5,311

379,524

Qorvo,

Inc.*

9,105

1,042,978

QUALCOMM,

Inc.

104,037

16,415,998

Rambus,

Inc.*

10,044

595,007

Silicon

Laboratories,

Inc.*

2,974

409,044

Skyworks

Solutions,

Inc.

14,902

1,563,518

SolarEdge

Technologies,

Inc.*

5,307

356,471

Teradyne,

Inc.

14,296

1,480,923

Texas

Instruments,

Inc.

84,894

14,205,313

Universal

Display

Corp.

4,074

710,587

Wolfspeed,

Inc.*

11,720

304,954

Total

Common

Stocks

(Cost

$271,425,343)

403,145,790

Securities

Lending

Reinvestments

(b)

—

0

.1

%

Investment

Companies

—

0

.1

%

Invesco

Government

&

Agency

Portfolio,

Institutional

Class

5.25%

(c)

(Cost

$375,113)

375,113

375,113

Investments

Principal

Amount

Value

Short-Term

Investments

—

1

.9

%

Repurchase

Agreements

(d)

—

1

.9

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$12,100,002

(Cost

$12,098,222)

$

12,098,222

$

12,098,222

Total

Investments

—

64.0%

(Cost

$283,898,678)

415,619,125

Other

assets

less

liabilities

—

36.0%

233,377,237

Net

Assets

—

100.0%

$

648,996,362

*

Non-income

producing

security.

(a)

The

security

or

a

portion

of

this

security

is

on

loan

at

February

29,

2024.

The

total

value

of

securities

on

loan

at

February

29,

2024

was

$381,542,

collateralized

in

the

form

of

cash

with

a

value

of

$375,113

that

was

reinvested

in

the

securities

shown

in

the

Securities

Lending

Reinvestment

section

of

the

Schedule

of

Portfolio

Investments.

The

market

value

of

the

loaned

securities

is

determined

at

the

close

of

each

business

day

of

the

Fund

and

any

additional

required

collateral

is

delivered

to

the

Fund,

or

excess

collateral

returned

by

the

Fund,

on

the

next

business

day.

(b)

The

security

was

purchased

with

cash

collateral

held

from

securities

on

loan

at

February

29,

2024.

The

total

value

of

securities

purchased

was

$375,113.

(c)

Rate

shown

is

the

7-day

yield

as

of

February

29,

2024.

(d)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

SEMICONDUCTORS

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

91

USD

::

Swap

Agreements

Ultra

Semiconductors

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

($)

160,336,273

5/6/2025

Bank

of

America

NA

5.93%

Dow

Jones

U.S.

Semiconductors

SM

Index

c

21,431,529

81,706,047

11/6/2025

BNP

Paribas

SA

5.83%

Dow

Jones

U.S.

Semiconductors

SM

Index

c

14,056,774

40,845,735

4/8/2024

Goldman

Sachs

International

5.93%

Dow

Jones

U.S.

Semiconductors

SM

Index

c

12,688,611

128,951,238

4/7/2025

J.P.

Morgan

Securities

5.78%

Dow

Jones

U.S.

Semiconductors

SM

Index

c

21,357,959

146,793,914

3/6/2024

Morgan

Stanley

&

Co.

International

plc

5.93%

Dow

Jones

U.S.

Semiconductors

SM

Index

c

40,471,471

51,035,302

3/6/2025

Societe

Generale

6.18%

Dow

Jones

U.S.

Semiconductors

SM

Index

c

12,179,927

285,132,966

5/6/2025

UBS

AG

5.68%

Dow

Jones

U.S.

Semiconductors

SM

Index

c

92,410,594

894,801,475

214,596,865

Total

Unrealized

Appreciation

214,596,865

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

c

See

the

Common

Stocks

section

of

the

preceding

Schedule

of

Portfolio

Investments

for

the

representative

components

of

the

underlying

reference

instrument

and

their

relative

weightings.

ULTRA

SMALLCAP600

::

FEBRUARY

29,

2024

(UNAUDITED)

SUMMARY

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

92

SAA

::

Investments

Shares

Value

Common

Stocks

—

76

.3

%

Aerospace

&

Defense

—

1.0%

AAR

Corp.*

750

$

50,085

AeroVironment,

Inc.*

588

74,553

Kaman

Corp.

631

28,906

Mercury

Systems,

Inc.*

1,166

34,828

Moog,

Inc.,

Class

a

A

643

96,418

National

Presto

Industries,

Inc.

117

9,048

Triumph

Group,

Inc.*

1,718

23,880

317,718

Air

Freight

&

Logistics

—

0.2%

Forward

Air

Corp.

574

21,313

Hub

Group,

Inc.,

Class

a

A*

1,395

59,329

80,642

Automobile

Components

—

1.1%

American

Axle

&

Manufacturing

Holdings,

Inc.*

2,617

18,110

Dana,

Inc.

2,872

35,900

Dorman

Products,

Inc.*

634

59,735

Gentherm,

Inc.*

733

41,678

LCI

Industries

566

71,305

Patrick

Industries,

Inc.

465

55,772

Phinia,

Inc.

1,044

35,726

Standard

Motor

Products,

Inc.

418

13,276

XPEL,

Inc.*(a)

476

25,028

356,530

Automobiles

—

0.1%

Winnebago

Industries,

Inc.

669

47,987

Banks

—

6.6%

Ameris

Bancorp

1,451

67,225

Atlantic

Union

Bankshares

Corp.

1,677

55,777

Axos

Financial,

Inc.*

1,149

59,886

Banc

of

California,

Inc.

2,925

42,793

BancFirst

Corp.

324

28,428

Bancorp,

Inc.

(The)*

1,200

53,568

Bank

of

Hawaii

Corp.

889

53,589

BankUnited,

Inc.

1,664

44,628

Banner

Corp.

768

33,669

Berkshire

Hills

Bancorp,

Inc.

959

20,609

Brookline

Bancorp,

Inc.

1,987

19,413

Capitol

Federal

Financial,

Inc.

2,827

16,368

Cathay

General

Bancorp

1,624

63,417

Central

Pacific

Financial

Corp.

605

11,289

City

Holding

Co.

332

33,359

Community

Bank

System,

Inc.

1,194

54,088

Customers

Bancorp,

Inc.*

632

34,324

CVB

Financial

Corp.

2,960

50,379

Dime

Community

Bancshares,

Inc.

781

14,636

Eagle

Bancorp,

Inc.

669

15,936

FB

Financial

Corp.

786

28,013

First

Bancorp(b)

3,858

65,509

First

Bancorp

919

31,356

First

Commonwealth

Financial

Corp.

2,283

29,747

Investments

Shares

Value

Common

Stocks

(continued)

First

Financial

Bancorp

2,127

$

46,156

First

Hawaiian,

Inc.

2,853

59,799

Fulton

Financial

Corp.

3,671

56,533

Hanmi

Financial

Corp.

680

10,275

Heritage

Financial

Corp.

780

14,313

Hilltop

Holdings,

Inc.

1,035

31,961

Hope

Bancorp,

Inc.

2,686

29,465

Independent

Bank

Corp.

981

51,179

Independent

Bank

Group,

Inc.

803

35,115

Lakeland

Financial

Corp.

569

36,245

National

Bank

Holdings

Corp.,

Class

a

A

844

28,561

NBT

Bancorp,

Inc.

1,053

36,213

Northfield

Bancorp,

Inc.

885

8,939

Northwest

Bancshares,

Inc.

2,842

32,569

OFG

Bancorp

1,052

38,103

Pacific

Premier

Bancorp,

Inc.

2,144

49,012

Park

National

Corp.

321

41,252

Pathward

Financial,

Inc.

585

29,741

Preferred

Bank

279

20,046

Provident

Financial

Services,

Inc.

1,689

25,470

Renasant

Corp.

1,255

39,671

S&T

Bancorp,

Inc.

855

26,667

Seacoast

Banking

Corp.

of

Florida

1,904

45,963

ServisFirst

Bancshares,

Inc.

1,095

69,193

Simmons

First

National

Corp.,

Class

a

A

2,799

53,741

Southside

Bancshares,

Inc.

641

18,371

Stellar

Bancorp,

Inc.

1,048

24,838

Tompkins

Financial

Corp.

279

13,437

Triumph

Financial,

Inc.*

484

36,300

TrustCo

Bank

Corp.

425

11,598

Trustmark

Corp.

1,366

36,691

United

Community

Banks,

Inc.

2,660

69,187

Veritex

Holdings,

Inc.

1,215

23,850

WaFd,

Inc.

1,523

41,487

Westamerica

Bancorp

596

27,243

WSFS

Financial

Corp.

1,358

57,566

2,204,756

Beverages

—

0.2%

MGP

Ingredients,

Inc.

350

29,813

National

Beverage

Corp.*

522

27,478

57,291

Biotechnology

—

1.7%

Alkermes

plc*

3,731

110,774

Arcus

Biosciences,

Inc.*

1,205

23,052

Catalyst

Pharmaceuticals,

Inc.*

2,477

39,706

Cytokinetics,

Inc.*

2,192

158,350

Dynavax

Technologies

Corp.*

2,890

36,616

Ironwood

Pharmaceuticals,

Inc.,

Class

a

A*

3,072

28,969

Myriad

Genetics,

Inc.*

1,983

41,504

REGENXBIO,

Inc.*

905

15,783

Vericel

Corp.*

1,067

48,741

Vir

Biotechnology,

Inc.*

1,925

21,637

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

SMALLCAP600

SUMMARY

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

93

SAA

::

Investments

Shares

Value

Common

Stocks

(continued)

Xencor,

Inc.*

1,361

$

31,235

556,367

Broadline

Retail

—

0.2%

Kohl's

Corp.

2,475

68,978

Building

Products

—

2.2%

AAON,

Inc.

1,508

126,642

American

Woodmark

Corp.*

367

36,788

Apogee

Enterprises,

Inc.

494

28,262

Armstrong

World

Industries,

Inc.

988

119,163

AZZ,

Inc.

561

40,841

Gibraltar

Industries,

Inc.*

681

52,743

Griffon

Corp.

916

65,402

Hayward

Holdings,

Inc.*

2,819

41,693

Insteel

Industries,

Inc.

435

15,838

Masterbrand,

Inc.*

2,834

49,057

PGT

Innovations,

Inc.*

1,276

53,299

Quanex

Building

Products

Corp.

738

25,520

Resideo

Technologies,

Inc.*

3,265

72,907

728,155

Capital

Markets

—

1.3%

Artisan

Partners

Asset

Management,

Inc.,

Class

a

A

1,531

65,940

B

Riley

Financial,

Inc.(b)

369

6,764

Brightsphere

Investment

Group,

Inc.

724

16,406

Donnelley

Financial

Solutions,

Inc.*

553

35,702

Moelis

&

Co.,

Class

a

A

1,491

80,574

Piper

Sandler

Cos.

336

63,259

PJT

Partners,

Inc.,

Class

a

A

499

52,594

StoneX

Group,

Inc.*

600

41,556

Virtus

Investment

Partners,

Inc.

151

35,080

WisdomTree,

Inc.

2,469

19,900

417,775

Chemicals

—

1.9%

AdvanSix,

Inc.

603

16,872

Balchem

Corp.

721

113,334

Hawkins,

Inc.

423

29,716

HB

Fuller

Co.

1,208

96,072

Ingevity

Corp.*

753

34,397

Innospec,

Inc.

556

69,094

Koppers

Holdings,

Inc.

466

26,385

Mativ

Holdings,

Inc.

1,212

21,052

Minerals

Technologies,

Inc.

728

52,678

Quaker

Chemical

Corp.

310

62,155

Sensient

Technologies

Corp.

945

63,202

Stepan

Co.

475

42,370

627,327

Commercial

Services

&

Supplies

—

1.7%

ABM

Industries,

Inc.

1,465

60,519

Brady

Corp.,

Class

a

A

1,002

58,397

CoreCivic,

Inc.*

2,540

38,684

Deluxe

Corp.

977

18,964

Enviri

Corp.*

1,785

14,030

Investments

Shares

Value

Common

Stocks

(continued)

GEO

Group,

Inc.

(The)*

2,729

$

33,485

Healthcare

Services

Group,

Inc.*

1,651

21,067

HNI

Corp.

1,042

46,692

Interface,

Inc.,

Class

a

A

1,299

20,420

Liquidity

Services,

Inc.*

501

8,983

Matthews

International

Corp.,

Class

a

A

681

19,708

MillerKnoll,

Inc.

1,643

50,194

OPENLANE,

Inc.*

2,415

36,877

Pitney

Bowes,

Inc.

3,430

13,823

UniFirst

Corp.

338

57,027

Vestis

Corp.

2,923

54,835

Viad

Corp.*

468

17,424

571,129

Communications

Equipment

—

0.6%

ADTRAN

Holdings,

Inc.

1,584

9,013

Digi

International,

Inc.*

804

23,766

Extreme

Networks,

Inc.*

2,898

36,631

Harmonic,

Inc.*

2,509

32,943

NetScout

Systems,

Inc.*

1,587

34,359

Viasat,

Inc.*

1,670

32,682

Viavi

Solutions,

Inc.*

4,973

47,492

216,886

Construction

&

Engineering

—

0.9%

Arcosa,

Inc.

1,090

90,470

Dycom

Industries,

Inc.*

656

82,977

Granite

Construction,

Inc.

982

50,603

MYR

Group,

Inc.*

374

60,760

284,810

Consumer

Finance

—

0.7%

Bread

Financial

Holdings,

Inc.

1,103

42,223

Encore

Capital

Group,

Inc.*

526

25,248

Enova

International,

Inc.*

668

42,251

EZCORP,

Inc.,

Class

a

A*

1,165

12,221

Green

Dot

Corp.,

Class

a

A*

1,009

8,284

Navient

Corp.

1,893

30,780

PRA

Group,

Inc.*

877

22,416

PROG

Holdings,

Inc.*

1,000

30,870

World

Acceptance

Corp.*

76

9,102

223,395

Consumer

Staples

Distribution

&

Retail

—

0.5%

Andersons,

Inc.

(The)

709

39,194

Chefs'

Warehouse,

Inc.

(The)*

789

29,990

PriceSmart,

Inc.

560

47,118

SpartanNash

Co.

774

16,308

United

Natural

Foods,

Inc.*

1,328

20,730

153,340

Containers

&

Packaging

—

0.6%

Myers

Industries,

Inc.

823

15,826

O-I

Glass,

Inc.*

3,467

58,662

Sealed

Air

Corp.

3,230

112,630

187,118

ULTRA

SMALLCAP600

::

FEBRUARY

29,

2024

(UNAUDITED)

SUMMARY

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

94

SAA

::

Investments

Shares

Value

Common

Stocks

(continued)

Diversified

Consumer

Services

—

0.8%

Adtalem

Global

Education,

Inc.*

891

$

44,104

Frontdoor,

Inc.*

1,780

55,821

Mister

Car

Wash,

Inc.*

2,037

16,886

Perdoceo

Education

Corp.

1,469

26,163

Strategic

Education,

Inc.

491

54,398

Stride,

Inc.*

889

53,118

250,490

Diversified

REITs

—

0.5%

Alexander

&

Baldwin,

Inc.,

REIT

1,622

26,374

American

Assets

Trust,

Inc.,

REIT

1,086

23,425

Armada

Hoffler

Properties,

Inc.,

REIT

1,507

15,341

Essential

Properties

Realty

Trust,

Inc.,

REIT

3,489

83,352

Global

Net

Lease,

Inc.,

REIT

4,378

31,566

180,058

Diversified

Telecommunication

Services

—

0.5%

ATN

International,

Inc.

234

7,848

Cogent

Communications

Holdings,

Inc.

968

78,321

Consolidated

Communications

Holdings,

Inc.*

1,667

7,185

Lumen

Technologies,

Inc.*

22,559

36,545

Shenandoah

Telecommunications

Co.

1,124

20,974

150,873

Electric

Utilities

—

0.3%

Otter

Tail

Corp.

933

84,399

Electrical

Equipment

—

0.4%

Encore

Wire

Corp.

353

85,073

Powell

Industries,

Inc.

204

37,789

SunPower

Corp.*(b)

1,919

5,968

Vicor

Corp.*

505

18,806

147,636

Electronic

Equipment,

Instruments

&

Components

—

3.2%

Advanced

Energy

Industries,

Inc.

834

84,401

Arlo

Technologies,

Inc.*

2,116

22,027

Badger

Meter,

Inc.

656

104,101

Benchmark

Electronics,

Inc.

798

24,507

CTS

Corp.

697

31,058

ePlus,

Inc.*

602

49,599

Fabrinet*

812

175,043

Insight

Enterprises,

Inc.*

619

116,372

Itron,

Inc.*

1,017

94,256

Knowles

Corp.*

2,018

32,974

Methode

Electronics,

Inc.

805

17,146

OSI

Systems,

Inc.*

349

45,782

PC

Connection,

Inc.

253

16,794

Plexus

Corp.*

614

57,962

Rogers

Corp.*

375

42,026

Investments

Shares

Value

Common

Stocks

(continued)

Sanmina

Corp.*

1,280

$

80,896

ScanSource,

Inc.*

558

24,122

TTM

Technologies,

Inc.*

2,286

33,947

1,053,013

Energy

Equipment

&

Services

—

1.5%

Archrock,

Inc.

3,071

56,107

Bristow

Group,

Inc.,

Class

a

A*

537

14,472

Core

Laboratories,

Inc.

1,045

15,644

Dril-Quip,

Inc.*

764

17,266

Helix

Energy

Solutions

Group,

Inc.*

3,168

28,512

Helmerich

&

Payne,

Inc.(b)

2,223

85,341

Liberty

Energy,

Inc.,

Class

a

A

3,431

73,355

Nabors

Industries

Ltd.*

199

15,596

Oceaneering

International,

Inc.*

2,252

44,500

Oil

States

International,

Inc.*

1,429

7,702

Patterson-UTI

Energy,

Inc.

7,184

83,119

ProPetro

Holding

Corp.*

1,898

14,045

RPC,

Inc.

1,902

14,056

US

Silica

Holdings,

Inc.*

1,725

19,837

489,552

Entertainment

—

0.4%

Cinemark

Holdings,

Inc.*

2,372

41,297

Madison

Square

Garden

Sports

Corp.*

373

70,195

Marcus

Corp.

(The)

550

8,068

119,560

Financial

Services

—

1.6%

EVERTEC,

Inc.

1,471

53,147

Jackson

Financial,

Inc.,

Class

a

A

1,582

87,089

Mr

Cooper

Group,

Inc.*

1,473

104,995

NCR

Atleos

Corp.*

1,496

32,553

NMI

Holdings,

Inc.,

Class

a

A*

1,813

54,535

Payoneer

Global,

Inc.*

5,825

28,310

Radian

Group,

Inc.

3,425

99,805

Walker

&

Dunlop,

Inc.

748

71,344

531,778

Food

Products

—

1.0%

B&G

Foods,

Inc.(b)

1,757

20,293

Calavo

Growers,

Inc.

397

11,458

Cal-Maine

Foods,

Inc.

909

52,258

Fresh

Del

Monte

Produce,

Inc.

753

18,019

Hain

Celestial

Group,

Inc.

(The)*(b)

2,006

20,060

J

&

J

Snack

Foods

Corp.

345

50,053

John

B

Sanfilippo

&

Son,

Inc.

201

20,576

Simply

Good

Foods

Co.

(The)*

2,027

71,918

Tootsie

Roll

Industries,

Inc.

386

12,553

TreeHouse

Foods,

Inc.*

1,125

40,264

WK

Kellogg

Co.

1,474

21,579

339,031

Gas

Utilities

—

0.2%

Chesapeake

Utilities

Corp.

484

49,383

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

SMALLCAP600

SUMMARY

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

95

SAA

::

Investments

Shares

Value

Common

Stocks

(continued)

Northwest

Natural

Holding

Co.

822

$

30,200

79,583

Ground

Transportation

—

0.5%

ArcBest

Corp.

529

75,573

Heartland

Express,

Inc.

1,025

13,100

Marten

Transport

Ltd.

1,291

24,335

RXO,

Inc.*

2,616

56,296

169,304

Health

Care

Equipment

&

Supplies

—

1.9%

Artivion,

Inc.*

872

16,830

Avanos

Medical,

Inc.*

1,046

19,424

CONMED

Corp.

688

55,260

Embecta

Corp.

1,281

18,293

Glaukos

Corp.*

1,089

96,475

ICU

Medical,

Inc.*

453

49,481

Integer

Holdings

Corp.*

745

82,166

LeMaitre

Vascular,

Inc.

443

31,010

Merit

Medical

Systems,

Inc.*

1,291

98,374

Omnicell,

Inc.*

1,017

26,686

OraSure

Technologies,

Inc.*

1,643

11,821

STAAR

Surgical

Co.*

1,092

34,114

Tandem

Diabetes

Care,

Inc.*

1,455

38,747

UFP

Technologies,

Inc.*

157

32,705

Varex

Imaging

Corp.*

906

15,583

626,969

Health

Care

Providers

&

Services

—

2.5%

AdaptHealth

Corp.,

Class

a

A*

1,830

18,721

Addus

HomeCare

Corp.*

363

33,498

Agiliti,

Inc.*

784

7,738

AMN

Healthcare

Services,

Inc.*

845

47,548

Astrana

Health,

Inc.*

929

41,842

CorVel

Corp.*

203

49,532

Cross

Country

Healthcare,

Inc.*

739

13,501

Enhabit,

Inc.*

1,121

10,089

Ensign

Group,

Inc.

(The)

1,262

157,649

Fulgent

Genetics,

Inc.*

451

10,175

ModivCare,

Inc.*

276

7,739

National

HealthCare

Corp.

302

29,795

NeoGenomics,

Inc.*

2,850

44,460

Owens

&

Minor,

Inc.*

1,711

41,629

Patterson

Cos.,

Inc.

1,903

51,552

Pediatrix

Medical

Group,

Inc.*

1,852

16,946

Premier,

Inc.,

Class

a

A

2,676

55,821

Privia

Health

Group,

Inc.*

2,297

51,269

RadNet,

Inc.*

1,351

51,149

Select

Medical

Holdings

Corp.

2,351

64,018

US

Physical

Therapy,

Inc.

335

35,600

840,271

Health

Care

REITs

—

0.3%

CareTrust

REIT,

Inc.,

REIT

2,663

60,077

Community

Healthcare

Trust,

Inc.,

REIT

567

15,388

LTC

Properties,

Inc.,

REIT

926

29,132

Investments

Shares

Value

Common

Stocks

(continued)

Universal

Health

Realty

Income

Trust,

REIT

284

$

11,014

115,611

Health

Care

Technology

—

0.3%

Certara,

Inc.*

2,395

40,428

HealthStream,

Inc.

535

14,595

Schrodinger,

Inc.*

1,223

31,138

Simulations

Plus,

Inc.

357

14,815

Veradigm,

Inc.*

2,443

14,633

115,609

Hotel

&

Resort

REITs

—

0.9%

Apple

Hospitality

REIT,

Inc.,

REIT

4,758

76,556

Chatham

Lodging

Trust,

REIT

1,092

11,138

DiamondRock

Hospitality

Co.,

REIT

4,687

44,058

Pebblebrook

Hotel

Trust,

REIT

2,694

42,673

Service

Properties

Trust,

REIT

3,707

25,208

Summit

Hotel

Properties,

Inc.,

REIT

2,405

15,440

Sunstone

Hotel

Investors,

Inc.,

REIT

4,594

51,407

Xenia

Hotels

&

Resorts,

Inc.,

REIT

2,370

36,356

302,836

Hotels,

Restaurants

&

Leisure

—

1.6%

BJ's

Restaurants,

Inc.*

520

18,211

Bloomin'

Brands,

Inc.

1,941

52,756

Brinker

International,

Inc.*

988

45,784

Cheesecake

Factory,

Inc.

(The)

1,044

36,937

Chuy's

Holdings,

Inc.*

388

13,126

Cracker

Barrel

Old

Country

Store,

Inc.(b)

495

32,734

Dave

&

Buster's

Entertainment,

Inc.*

768

47,416

Dine

Brands

Global,

Inc.

348

16,882

Golden

Entertainment,

Inc.

480

17,789

Jack

in

the

Box,

Inc.

450

32,850

Monarch

Casino

&

Resort,

Inc.

298

20,964

Papa

John's

International,

Inc.

732

52,624

Sabre

Corp.*

8,485

22,485

Shake

Shack,

Inc.,

Class

a

A*

838

89,096

Six

Flags

Entertainment

Corp.*

1,606

40,696

540,350

Household

Durables

—

2.8%

Cavco

Industries,

Inc.*

173

64,455

Century

Communities,

Inc.

632

54,535

Ethan

Allen

Interiors,

Inc.

511

17,083

Green

Brick

Partners,

Inc.*

568

33,228

Installed

Building

Products,

Inc.

527

125,916

iRobot

Corp.*(b)

623

7,108

La-Z-Boy,

Inc.

963

36,584

LGI

Homes,

Inc.*

458

52,253

M/I

Homes,

Inc.*

623

79,115

MDC

Holdings,

Inc.

1,336

83,767

Meritage

Homes

Corp.

822

129,597

ULTRA

SMALLCAP600

::

FEBRUARY

29,

2024

(UNAUDITED)

SUMMARY

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

96

SAA

::

Investments

Shares

Value

Common

Stocks

(continued)

Newell

Brands,

Inc.

8,521

$

63,907

Sonos,

Inc.*

2,868

54,377

Tri

Pointe

Homes,

Inc.*

2,170

76,775

Worthington

Enterprises,

Inc.

681

42,304

921,004

Household

Products

—

0.5%

Central

Garden

&

Pet

Co.*

213

9,344

Central

Garden

&

Pet

Co.,

Class

a

A*

1,196

45,077

Energizer

Holdings,

Inc.

1,487

42,454

WD-40

Co.

303

81,322

178,197

Independent

Power

and

Renewable

Electricity

Producers

—

0.2%

Clearway

Energy,

Inc.,

Class

a

A

774

15,681

Clearway

Energy,

Inc.,

Class

a

C

1,842

40,156

55,837

Industrial

REITs

—

0.4%

Innovative

Industrial

Properties,

Inc.,

REIT

627

61,440

LXP

Industrial

Trust,

REIT

6,547

56,697

118,137

Insurance

—

2.1%

Ambac

Financial

Group,

Inc.*

1,011

16,540

American

Equity

Investment

Life

Holding

Co.*

1,396

77,534

AMERISAFE,

Inc.

429

22,634

Assured

Guaranty

Ltd.

1,215

111,294

Employers

Holdings,

Inc.

575

26,283

Genworth

Financial,

Inc.,

Class

a

A*

10,084

62,017

Goosehead

Insurance,

Inc.,

Class

a

A*

547

41,381

HCI

Group,

Inc.

134

13,081

Horace

Mann

Educators

Corp.

913

33,042

Lincoln

National

Corp.

3,794

104,487

Mercury

General

Corp.

594

28,922

Palomar

Holdings,

Inc.*

553

42,105

ProAssurance

Corp.

1,140

14,056

Safety

Insurance

Group,

Inc.

331

27,195

SiriusPoint

Ltd.*

2,023

24,822

Stewart

Information

Services

Corp.

612

38,544

Trupanion,

Inc.*(b)

799

21,373

United

Fire

Group,

Inc.

474

11,039

716,349

Interactive

Media

&

Services

—

0.7%

Cargurus,

Inc.,

Class

a

A*

1,916

42,420

Cars.com,

Inc.*

1,377

25,254

QuinStreet,

Inc.*

1,159

16,956

Shutterstock,

Inc.

535

26,087

TripAdvisor,

Inc.*

2,417

64,824

Yelp,

Inc.,

Class

a

A*

1,531

58,852

234,393

Investments

Shares

Value

Common

Stocks

(continued)

IT

Services

—

0.4%

DXC

Technology

Co.*

4,330

$

94,654

Perficient,

Inc.*

777

50,404

145,058

Leisure

Products

—

0.3%

Sturm

Ruger

&

Co.,

Inc.

396

17,155

Topgolf

Callaway

Brands

Corp.*

3,177

45,240

Vista

Outdoor,

Inc.*

1,298

40,498

102,893

Life

Sciences

Tools

&

Services

—

0.3%

BioLife

Solutions,

Inc.*

778

13,148

Cytek

Biosciences,

Inc.*

2,212

17,032

Fortrea

Holdings,

Inc.*

1,986

74,555

Mesa

Laboratories,

Inc.

115

12,557

117,292

Machinery

—

3.8%

3D

Systems

Corp.*

2,984

12,354

Alamo

Group,

Inc.

231

46,729

Albany

International

Corp.,

Class

a

A

698

65,521

Astec

Industries,

Inc.

508

20,625

Barnes

Group,

Inc.

1,133

39,587

Enerpac

Tool

Group

Corp.,

Class

a

A

1,215

40,958

Enpro,

Inc.

467

72,768

ESCO

Technologies,

Inc.

577

58,791

Federal

Signal

Corp.

1,362

111,561

Franklin

Electric

Co.,

Inc.

887

92,212

Greenbrier

Cos.,

Inc.

(The)

695

35,966

Hillenbrand,

Inc.

1,563

74,321

John

Bean

Technologies

Corp.

712

72,254

Kennametal,

Inc.

1,780

44,927

Lindsay

Corp.

246

29,350

Mueller

Industries,

Inc.

2,538

130,402

Proto

Labs,

Inc.*

577

21,020

SPX

Technologies,

Inc.*

1,021

119,651

Standex

International

Corp.

266

46,018

Tennant

Co.

418

47,313

Titan

International,

Inc.*

1,131

14,432

Trinity

Industries,

Inc.

1,831

46,471

Wabash

National

Corp.

1,031

28,126

1,271,357

Marine

Transportation

—

0.3%

Matson,

Inc.

781

86,730

Media

—

0.4%

AMC

Networks,

Inc.,

Class

a

A*

681

8,812

EchoStar

Corp.,

Class

a

A*

2,693

35,305

EW

Scripps

Co.

(The),

Class

a

A*

1,316

5,303

John

Wiley

&

Sons,

Inc.,

Class

a

A

950

31,683

Scholastic

Corp.

611

24,098

TechTarget,

Inc.*

578

18,328

Thryv

Holdings,

Inc.*

692

14,491

138,020

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

SMALLCAP600

SUMMARY

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

97

SAA

::

Investments

Shares

Value

Common

Stocks

(continued)

Metals

&

Mining

—

1.8%

Alpha

Metallurgical

Resources,

Inc.

264

$

99,594

ATI,

Inc.*

2,853

140,311

Carpenter

Technology

Corp.

1,102

71,244

Century

Aluminum

Co.*

1,157

12,114

Compass

Minerals

International,

Inc.

755

17,214

Haynes

International,

Inc.

285

16,938

Kaiser

Aluminum

Corp.

358

25,962

Materion

Corp.

461

61,922

Metallus,

Inc.*

859

18,683

Olympic

Steel,

Inc.

219

14,896

SunCoke

Energy,

Inc.

1,873

20,060

Warrior

Met

Coal,

Inc.

1,163

66,256

Worthington

Steel,

Inc.*

681

21,560

586,754

Mortgage

Real

Estate

Investment

Trusts

(REITs)

—

1.3%

Apollo

Commercial

Real

Estate

Finance,

Inc.

2,908

32,599

Arbor

Realty

Trust,

Inc.(b)

4,215

56,481

ARMOUR

Residential

REIT,

Inc.

(b)

1,096

21,701

Blackstone

Mortgage

Trust,

Inc.,

Class

a

A(b)

3,853

78,485

Ellington

Financial,

Inc.(b)

1,755

19,884

Franklin

BSP

Realty

Trust,

Inc.

1,835

23,690

Hannon

Armstrong

Sustainable

Infrastructure

Capital,

Inc.

2,486

62,573

KKR

Real

Estate

Finance

Trust,

Inc.

1,302

12,694

New

York

Mortgage

Trust,

Inc.

2,028

14,622

PennyMac

Mortgage

Investment

Trust

1,940

27,412

Ready

Capital

Corp.

3,541

31,267

Redwood

Trust,

Inc.

2,653

16,263

Two

Harbors

Investment

Corp.

2,151

27,253

424,924

Multi-Utilities

—

0.2%

Avista

Corp.

1,730

57,436

Unitil

Corp.

360

18,346

75,782

Office

REITs

—

0.8%

Brandywine

Realty

Trust,

REIT

3,848

16,547

Douglas

Emmett,

Inc.,

REIT

3,728

49,284

Easterly

Government

Properties,

Inc.,

Class

a

A,

REIT

2,129

25,122

Highwoods

Properties,

Inc.,

REIT

2,363

57,776

Hudson

Pacific

Properties,

Inc.,

REIT

2,836

17,980

JBG

SMITH

Properties,

REIT

1,947

32,281

SL

Green

Realty

Corp.,

REIT(b)

1,440

69,811

268,801

Investments

Shares

Value

Common

Stocks

(continued)

Oil,

Gas

&

Consumable

Fuels

—

2.0%

California

Resources

Corp.

1,442

$

75,229

Callon

Petroleum

Co.*

1,243

38,732

Comstock

Resources,

Inc.

2,054

17,562

CONSOL

Energy,

Inc.

623

53,466

CVR

Energy,

Inc.

652

21,633

Dorian

LPG

Ltd.

763

27,582

Green

Plains,

Inc.*

1,436

30,587

Northern

Oil

&

Gas,

Inc.

2,045

73,068

Par

Pacific

Holdings,

Inc.*

1,245

44,969

Peabody

Energy

Corp.

2,462

60,984

REX

American

Resources

Corp.*

341

14,997

SM

Energy

Co.

2,601

113,846

Talos

Energy,

Inc.*

2,928

38,620

Vital

Energy,

Inc.*

554

27,883

World

Kinect

Corp.

1,346

32,789

671,947

Paper

&

Forest

Products

—

0.2%

Clearwater

Paper

Corp.*

370

14,537

Mercer

International,

Inc.

982

9,015

Sylvamo

Corp.

790

47,724

71,276

Passenger

Airlines

—

0.8%

Alaska

Air

Group,

Inc.*

2,863

107,048

Allegiant

Travel

Co.

337

24,527

JetBlue

Airways

Corp.*

7,452

48,289

SkyWest,

Inc.*

916

58,825

Sun

Country

Airlines

Holdings,

Inc.*

872

13,080

251,769

Personal

Care

Products

—

0.4%

Edgewell

Personal

Care

Co.

1,136

43,384

Inter

Parfums,

Inc.

400

58,688

Medifast,

Inc.

244

9,782

Nu

Skin

Enterprises,

Inc.,

Class

a

A

1,105

13,813

USANA

Health

Sciences,

Inc.*

248

11,968

137,635

Pharmaceuticals

—

1.4%

Amphastar

Pharmaceuticals,

Inc.*

836

38,933

ANI

Pharmaceuticals,

Inc.*

337

22,805

Collegium

Pharmaceutical,

Inc.*

729

26,762

Corcept

Therapeutics,

Inc.*

2,018

47,423

Harmony

Biosciences

Holdings,

Inc.*

733

23,529

Innoviva,

Inc.*

1,261

19,268

Ligand

Pharmaceuticals,

Inc.*

366

29,042

Organon

&

Co.

5,715

99,498

Pacira

BioSciences,

Inc.*

1,038

30,849

Phibro

Animal

Health

Corp.,

Class

a

A

455

5,883

Prestige

Consumer

Healthcare,

Inc.*

1,109

77,164

ULTRA

SMALLCAP600

::

FEBRUARY

29,

2024

(UNAUDITED)

SUMMARY

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

98

SAA

::

Investments

Shares

Value

Common

Stocks

(continued)

Supernus

Pharmaceuticals,

Inc.*

1,222

$

36,294

457,450

Professional

Services

—

0.8%

CSG

Systems

International,

Inc.

635

34,646

Forrester

Research,

Inc.*

258

5,204

Heidrick

&

Struggles

International,

Inc.

450

15,300

Kelly

Services,

Inc.,

Class

a

A

716

17,563

Korn

Ferry

1,178

74,991

NV5

Global,

Inc.*

284

28,886

Resources

Connection,

Inc.

716

9,902

TrueBlue,

Inc.*

696

8,178

TTEC

Holdings,

Inc.

424

7,399

Verra

Mobility

Corp.,

Class

a

A*

3,719

80,405

282,474

Real

Estate

Management

&

Development

—

0.5%

Anywhere

Real

Estate,

Inc.*

2,471

15,493

Cushman

&

Wakefield

plc*

3,760

37,562

eXp

World

Holdings,

Inc.(b)

1,719

22,519

Kennedy-Wilson

Holdings,

Inc.

2,649

23,258

Marcus

&

Millichap,

Inc.

532

19,519

St

Joe

Co.

(The)

796

42,881

161,232

Residential

REITs

—

0.3%

Centerspace,

REIT

337

18,734

Elme

Communities,

REIT

1,964

25,296

NexPoint

Residential

Trust,

Inc.,

REIT

511

14,926

Veris

Residential,

Inc.,

REIT

1,793

26,178

85,134

Retail

REITs

—

1.4%

Acadia

Realty

Trust,

REIT

2,132

34,943

Getty

Realty

Corp.,

REIT

1,072

28,258

Macerich

Co.

(The),

REIT

4,817

79,047

Phillips

Edison

&

Co.,

Inc.,

REIT

2,674

95,515

Retail

Opportunity

Investments

Corp.,

REIT

2,817

36,424

Saul

Centers,

Inc.,

REIT

289

10,459

SITE

Centers

Corp.,

REIT

4,025

54,660

Tanger,

Inc.,

REIT

2,356

67,876

Urban

Edge

Properties,

REIT

2,630

44,736

Whitestone

REIT,

REIT

1,053

12,973

464,891

Semiconductors

&

Semiconductor

Equipment

—

2.2%

Alpha

&

Omega

Semiconductor

Ltd.*

503

11,016

Axcelis

Technologies,

Inc.*

732

82,474

CEVA,

Inc.*

527

11,931

Cohu,

Inc.*

1,062

34,122

Diodes,

Inc.*

1,027

69,815

FormFactor,

Inc.*

1,741

74,915

Ichor

Holdings

Ltd.*

657

28,120

Kulicke

&

Soffa

Industries,

Inc.

1,263

60,144

MaxLinear,

Inc.,

Class

a

A*

1,660

32,270

Investments

Shares

Value

Common

Stocks

(continued)

PDF

Solutions,

Inc.*

684

$

23,249

Photronics,

Inc.*

1,399

40,277

Semtech

Corp.*

1,435

30,422

SiTime

Corp.*

387

35,798

SMART

Global

Holdings,

Inc.*

1,161

24,695

SolarEdge

Technologies,

Inc.*

1,270

85,306

Ultra

Clean

Holdings,

Inc.*

1,002

43,286

Veeco

Instruments,

Inc.*

1,260

45,625

733,465

Software

—

2.5%

A10

Networks,

Inc.

1,558

20,737

ACI

Worldwide,

Inc.*

2,431

80,004

Adeia,

Inc.

2,396

27,171

Agilysys,

Inc.*

454

35,321

Alarm.com

Holdings,

Inc.*

1,118

84,622

Cerence,

Inc.*

902

13,440

Consensus

Cloud

Solutions,

Inc.*

398

6,336

Digital

Turbine,

Inc.*

2,039

6,464

DoubleVerify

Holdings,

Inc.*

3,117

96,284

Envestnet,

Inc.*

1,112

57,301

InterDigital,

Inc.

575

61,537

LiveRamp

Holdings,

Inc.*

1,465

51,246

N-able,

Inc.*

1,554

20,932

NCR

Voyix

Corp.*

2,999

43,815

Progress

Software

Corp.

974

51,973

SPS

Commerce,

Inc.*

821

152,016

Xperi,

Inc.*

972

10,653

819,852

Specialized

REITs

—

0.4%

Four

Corners

Property

Trust,

Inc.,

REIT

2,025

48,964

Outfront

Media,

Inc.,

REIT

3,248

46,674

Safehold,

Inc.,

REIT

1,001

20,140

Uniti

Group,

Inc.,

REIT

5,337

31,275

147,053

Specialty

Retail

—

4.0%

Abercrombie

&

Fitch

Co.,

Class

a

A*

1,126

143,858

Academy

Sports

&

Outdoors,

Inc.

1,667

124,558

Advance

Auto

Parts,

Inc.

1,330

89,828

American

Eagle

Outfitters,

Inc.

4,151

98,586

America's

Car-Mart,

Inc.*

130

8,754

Asbury

Automotive

Group,

Inc.*

460

96,062

Boot

Barn

Holdings,

Inc.*

677

62,622

Buckle,

Inc.

(The)

666

27,266

Caleres,

Inc.

747

28,842

Designer

Brands,

Inc.,

Class

a

A

980

10,349

Foot

Locker,

Inc.

1,832

63,076

Group

1

Automotive,

Inc.

309

83,631

Guess?,

Inc.

611

15,507

Haverty

Furniture

Cos.,

Inc.

298

10,221

Hibbett,

Inc.

277

22,700

Leslie's,

Inc.*

4,114

32,501

MarineMax,

Inc.*

446

14,807

Monro,

Inc.

703

23,600

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

SMALLCAP600

SUMMARY

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

99

SAA

::

Investments

Shares

Value

Common

Stocks

(continued)

National

Vision

Holdings,

Inc.*

1,750

$

40,950

ODP

Corp.

(The)*

744

42,021

Sally

Beauty

Holdings,

Inc.*

2,410

30,438

Shoe

Carnival,

Inc.

404

13,239

Signet

Jewelers

Ltd.

1,004

102,167

Sonic

Automotive,

Inc.,

Class

a

A

332

17,430

Upbound

Group,

Inc.

996

33,625

Urban

Outfitters,

Inc.*

1,265

52,561

Victoria's

Secret

&

Co.*

1,728

49,352

1,338,551

Technology

Hardware,

Storage

&

Peripherals

—

0.2%

Corsair

Gaming,

Inc.*

967

12,523

Xerox

Holdings

Corp.

2,528

47,147

59,670

Textiles,

Apparel

&

Luxury

Goods

—

0.8%

G-III

Apparel

Group

Ltd.*

910

30,276

Hanesbrands,

Inc.*

7,827

42,266

Kontoor

Brands,

Inc.

1,118

66,085

Movado

Group,

Inc.

350

10,048

Oxford

Industries,

Inc.

328

33,256

Steven

Madden

Ltd.

1,568

67,142

Wolverine

World

Wide,

Inc.

1,778

18,082

267,155

Tobacco

—

0.2%

Universal

Corp.

549

26,358

Vector

Group

Ltd.

2,964

33,078

59,436

Trading

Companies

&

Distributors

—

1.4%

Applied

Industrial

Technologies,

Inc.

867

164,635

Boise

Cascade

Co.

885

120,280

DNOW,

Inc.*

2,378

33,649

DXP

Enterprises,

Inc.*

297

10,549

GMS,

Inc.*

908

81,093

Rush

Enterprises,

Inc.,

Class

a

A

1,377

67,060

477,266

Water

Utilities

—

0.5%

American

States

Water

Co.

827

59,056

California

Water

Service

Group

1,290

59,198

Middlesex

Water

Co.

398

20,254

SJW

Group

650

35,789

174,297

Wireless

Telecommunication

Services

—

0.1%

Gogo,

Inc.*

1,383

11,285

Telephone

and

Data

Systems,

Inc.

2,204

33,721

45,006

Total

Common

Stocks

(Cost

$24,512,224)

25,384,214

Investments

Shares

Value

Securities

Lending

Reinvestments

(c)

—

0

.7

%

Investment

Companies

—

0

.7

%

Invesco

Government

&

Agency

Portfolio,

Institutional

Class

5.25%

(d)

(Cost

$239,034)

239,034

$

239,034

Principal

Amount

Short-Term

Investments

—

18

.1

%

Repurchase

Agreements

(e)

—

18

.1

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$6,025,164

(Cost

$6,024,278)

$

6,024,278

6,024,278

Total

Investments

—

95.1%

(Cost

$30,775,536)

31,647,526

Other

assets

less

liabilities

—

4.9%

1,633,003

Net

Assets

—

100.0%

$

33,280,529

*

Non-income

producing

security.

(a)

Security

exempt

from

registration

pursuant

to

Regulation

S

under

the

Securities

Act

of

1933.

Regulation

S

applies

to

securities

offerings

that

are

made

outside

of

the

United

States

and

do

not

involve

direct

selling

efforts

in

the

United

States

and

as

such

may

have

restrictions

on

resale.

(b)

The

security

or

a

portion

of

this

security

is

on

loan

at

February

29,

2024.

The

total

value

of

securities

on

loan

at

February

29,

2024

was

$284,014,

collateralized

in

the

form

of

cash

with

a

value

of

$239,034

that

was

reinvested

in

the

securities

shown

in

the

Securities

Lending

Reinvestment

section

of

the

Schedule

of

Portfolio

Investments

and

$48,915

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

6.25%,

and

maturity

dates

ranging

from

April

15,

2024

–

August

15,

2049.

The

total

value

of

collateral

is

$287,949.

(c)

The

security

was

purchased

with

cash

collateral

held

from

securities

on

loan

at

February

29,

2024.

The

total

value

of

securities

purchased

was

$239,034.

(d)

Rate

shown

is

the

7-day

yield

as

of

February

29,

2024.

(e)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

ULTRA

SMALLCAP600

::

FEBRUARY

29,

2024

(UNAUDITED)

SUMMARY

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

100

SAA

::

Swap

Agreements

Ultra

SmallCap600

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

($)

9,486,554

2/11/2025

Bank

of

America

NA

5.88%

S&P

SmallCap

600

®

208,788

9,307,759

3/6/2024

Citibank

NA

5.68%

S&P

SmallCap

600

®

269,248

7,369,730

3/6/2024

Morgan

Stanley

&

Co.

International

plc

5.93%

S&P

SmallCap

600

®

349,868

6,114,253

4/8/2024

Societe

Generale

5.98%

S&P

SmallCap

600

®

190,620

8,900,578

11/7/2024

UBS

AG

5.63%

S&P

SmallCap

600

®

96,480

41,178,874

1,115,004

Total

Unrealized

Appreciation

1,115,004

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

TECHNOLOGY

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

101

ROM

::

Investments

Shares

Value

Common

Stocks

(a)

—

70.9%

Communications

Equipment

—

2.5%

Arista

Networks,

Inc.*

12,381

$

3,436,223

Cisco

Systems,

Inc.

198,979

9,624,614

F5,

Inc.*

2,930

548,555

Juniper

Networks,

Inc.

15,667

580,149

Motorola

Solutions,

Inc.

8,154

2,694,000

16,883,541

Electronic

Equipment,

Instruments

&

Components

—

1.9%

Amphenol

Corp.,

Class

a

A

29,394

3,211,001

CDW

Corp.

6,582

1,620,554

Corning,

Inc.

37,717

1,215,996

Jabil,

Inc.

6,283

905,317

Keysight

Technologies,

Inc.*

8,721

1,345,650

TE

Connectivity

Ltd.

15,266

2,191,587

Teledyne

Technologies,

Inc.*

2,317

989,985

Trimble,

Inc.*

12,221

747,803

Zebra

Technologies

Corp.,

Class

a

A

*

2,524

705,408

12,933,301

IT

Services

—

3.8%

Accenture

plc,

Class

a

A

30,832

11,555,217

Akamai

Technologies,

Inc.*

7,411

822,028

Cognizant

Technology

Solutions

Corp.,

Class

a

A

24,635

1,946,658

EPAM

Systems,

Inc.*

2,830

861,452

Gartner,

Inc.*

3,827

1,781,698

International

Business

Machines

Corp.

44,860

8,300,446

VeriSign,

Inc.*

4,367

852,831

26,120,330

Semiconductors

&

Semiconductor

Equipment

—

20.6%

Advanced

Micro

Devices,

Inc.*

79,369

15,280,983

Analog

Devices,

Inc.

24,481

4,695,945

Applied

Materials,

Inc.

41,092

8,284,969

Broadcom,

Inc.

20,823

27,080,103

Enphase

Energy,

Inc.*

6,710

852,237

First

Solar,

Inc.*

5,253

808,384

Intel

Corp.

207,107

8,915,956

KLA

Corp.

6,680

4,557,764

Lam

Research

Corp.

6,474

6,074,230

Microchip

Technology,

Inc.

26,577

2,236,189

Micron

Technology,

Inc.

53,937

4,887,232

Monolithic

Power

Systems,

Inc.

2,353

1,694,254

NVIDIA

Corp.

41,396

32,749,204

NXP

Semiconductors

NV

12,660

3,161,582

ON

Semiconductor

Corp.*

21,159

1,669,868

Qorvo,

Inc.*

4,781

547,664

QUALCOMM,

Inc.

54,672

8,626,695

Skyworks

Solutions,

Inc.

7,827

821,209

Teradyne,

Inc.

7,512

778,168

Texas

Instruments,

Inc.

44,616

7,465,595

141,188,231

Software

—

27.8%

Adobe,

Inc.*

22,363

12,529,542

Investments

Shares

Value

Common

Stocks

(a)

(continued)

ANSYS,

Inc.*

4,266

$

1,425,569

Autodesk,

Inc.*

10,501

2,711,043

Cadence

Design

Systems,

Inc.*

13,361

4,066,821

Fair

Isaac

Corp.*

1,210

1,536,591

Fortinet,

Inc.*

31,308

2,163,696

Gen

Digital,

Inc.

27,699

595,252

Intuit,

Inc.

13,768

9,126,670

Microsoft

Corp.

268,577

111,094,190

Oracle

Corp.

78,046

8,716,177

Palo

Alto

Networks,

Inc.*

15,268

4,741,478

PTC,

Inc.*

5,839

1,068,595

Roper

Technologies,

Inc.

5,251

2,860,377

Salesforce,

Inc.*

47,798

14,760,978

ServiceNow,

Inc.*

10,074

7,770,479

Synopsys,

Inc.*

7,473

4,287,484

Tyler

Technologies,

Inc.*

2,063

901,820

190,356,762

Technology

Hardware,

Storage

&

Peripherals

—

14.3%

Apple,

Inc.

513,563

92,826,512

Hewlett

Packard

Enterprise

Co.

63,019

959,779

HP,

Inc.

42,721

1,210,286

NetApp,

Inc.

10,254

913,837

Seagate

Technology

Holdings

plc

9,555

889,093

Western

Digital

Corp.*

15,926

947,119

97,746,626

Total

Common

Stocks

(Cost

$384,145,996)

485,228,791

Principal

Amount

Short-Term

Investments

—

11.0%

Repurchase

Agreements

(b)

—

2.4%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$16,589,702

(Cost

$16,587,261)

$

16,587,261

16,587,261

U.S.

Treasury

Obligations

(a)

—

8.6%

U.S.

Treasury

Bills

5.24%,

8/8/2024

(c)

(Cost

$58,634,711)

60,000,000

58,632,934

Total

Short-Term

Investments

(Cost

$75,221,972)

75,220,195

Total

Investments

—

81.9%

(Cost

$459,367,968)

560,448,986

Other

assets

less

liabilities

—

18.1%

123,713,548

Net

Assets

—

100.0%

$

684,162,534

ULTRA

TECHNOLOGY

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

102

ROM

::

*

Non-income

producing

security.

(a)

All

or

a

portion

of

these

securities

are

segregated

in

connection

with

obligations

for

swaps

with

a

total

value

of

$87,079,275.

(b)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

(c)

The

rate

shown

was

the

current

yield

as

of

February

29,

2024.

Swap

Agreements

Ultra

Technology

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

($)

64,974,196

5/6/2025

Bank

of

America

NA

5.93%

S&P

Technology

Select

Sector

Index

c

11,965,220

146,781,279

3/6/2025

BNP

Paribas

SA

6.03%

S&P

Technology

Select

Sector

Index

c

16,419,534

20,799,329

4/7/2025

Citibank

NA

5.78%

S&P

Technology

Select

Sector

Index

c

8,816,727

50,213,112

3/6/2025

Goldman

Sachs

International

5.93%

S&P

Technology

Select

Sector

Index

c

9,818,296

345,647,380

4/7/2025

J.P.

Morgan

Securities

5.73%

S&P

Technology

Select

Sector

Index

c

25,659,938

100,913,953

3/6/2025

Societe

Generale

6.08%

S&P

Technology

Select

Sector

Index

c

32,978,373

153,734,537

5/6/2025

UBS

AG

5.78%

S&P

Technology

Select

Sector

Index

c

14,972,002

883,063,786

120,630,090

Total

Unrealized

Appreciation

120,630,090

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

c

See

the

Common

Stocks

section

of

the

preceding

Schedule

of

Portfolio

Investments

for

the

representative

components

of

the

underlying

reference

instrument

and

their

relative

weightings.

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRA

UTILITIES

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

103

UPW

::

Investments

Shares

Value

Common

Stocks

—

81

.5

%

Electric

Utilities

—

54.2%

Alliant

Energy

Corp.

2,338

$

111,639

American

Electric

Power

Co.,

Inc.

4,817

410,360

Constellation

Energy

Corp.

2,926

492,885

Duke

Energy

Corp.

7,060

648,320

Edison

International

3,511

238,818

Entergy

Corp.

1,937

196,741

Evergy,

Inc.

2,104

104,232

Eversource

Energy

3,200

187,840

Exelon

Corp.

9,119

326,825

FirstEnergy

Corp.

4,731

173,202

NextEra

Energy,

Inc.

18,795

1,037,296

NRG

Energy,

Inc.

2,068

114,402

PG&E

Corp.

19,544

326,189

Pinnacle

West

Capital

Corp.

1,039

70,995

PPL

Corp.

6,753

178,077

Southern

Co.

(The)

9,991

671,895

Xcel

Energy,

Inc.

5,055

266,348

5,556,064

Gas

Utilities

—

1.5%

Atmos

Energy

Corp.

1,360

153,558

Independent

Power

and

Renewable

Electricity

Producers

—

0.9%

AES

Corp.

(The)

6,134

93,237

Multi-Utilities

—

22.9%

Ameren

Corp.

2,409

171,497

CenterPoint

Energy,

Inc.

5,782

159,005

CMS

Energy

Corp.

2,673

153,350

Consolidated

Edison,

Inc.

3,162

275,758

Dominion

Energy,

Inc.

7,666

366,665

Investments

Shares

Value

Common

Stocks

(continued)

DTE

Energy

Co.

1,889

$

204,673

NiSource,

Inc.

3,786

98,663

Public

Service

Enterprise

Group,

Inc.

4,565

284,856

Sempra

5,765

407,009

WEC

Energy

Group,

Inc.

2,890

226,836

2,348,312

Water

Utilities

—

2.0%

American

Water

Works

Co.,

Inc.

1,784

211,475

Total

Common

Stocks

(Cost

$9,150,687)

8,362,646

Principal

Amount

Short-Term

Investments

—

4

.3

%

Repurchase

Agreements

(a)

—

4

.3

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$441,451

(Cost

$441,386)

$

441,386

441,386

Total

Investments

—

85.8%

(Cost

$9,592,073)

8,804,032

Other

assets

less

liabilities

—

14.2%

1,454,161

Net

Assets

—

100.0%

$

10,258,193

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

Ultra

Utilities

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

6,099,681

3/6/2025

Bank

of

America

NA

5.53%

S&P

Utilities

Select

Sector

Index

c

(

798,849

)

1,118,358

3/6/2025

Goldman

Sachs

International

5.93%

S&P

Utilities

Select

Sector

Index

c

(

147,195

)

3,455,777

3/6/2025

Societe

Generale

6.08%

S&P

Utilities

Select

Sector

Index

c

(

399,956

)

1,508,032

3/6/2025

UBS

AG

5.68%

S&P

Utilities

Select

Sector

Index

c

(

502,008

)

12,181,848

(

1,848,008

)

Total

Unrealized

Depreciation

(

1,848,008

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

c

See

the

Common

Stocks

section

of

the

preceding

Schedule

of

Portfolio

Investments

for

the

representative

components

of

the

underlying

reference

instrument

and

their

relative

weightings.

ULTRAPRO

DOW30

~

SM

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

104

UDOW

::

Investments

Shares

Value

Common

Stocks

—

60

.5

%

Aerospace

&

Defense

—

2.1%

Boeing

Co.

(The)*

61,814

$

12,592,748

Banks

—

1.9%

JPMorgan

Chase

&

Co.

61,814

11,501,113

Beverages

—

0.6%

Coca-Cola

Co.

(The)

61,814

3,710,076

Biotechnology

—

2.8%

Amgen,

Inc.

61,814

16,926,528

Broadline

Retail

—

1.8%

Amazon.com,

Inc.*

61,814

10,926,243

Capital

Markets

—

4.0%

Goldman

Sachs

Group,

Inc.

(The)

61,814

24,048,737

Chemicals

—

0.6%

Dow,

Inc.

61,814

3,454,166

Communications

Equipment

—

0.5%

Cisco

Systems,

Inc.

61,814

2,989,943

Consumer

Finance

—

2.2%

American

Express

Co.

61,814

13,563,228

Consumer

Staples

Distribution

&

Retail

—

0.6%

Walmart,

Inc.

61,815

3,622,977

Diversified

Telecommunication

Services

—

0.4%

Verizon

Communications,

Inc.

61,814

2,473,796

Entertainment

—

1.1%

Walt

Disney

Co.

(The)

61,814

6,897,206

Financial

Services

—

2.9%

Visa,

Inc.,

Class

a

A

61,814

17,471,109

Health

Care

Providers

&

Services

—

5.0%

UnitedHealth

Group,

Inc.

61,814

30,511,390

Hotels,

Restaurants

&

Leisure

—

3.0%

McDonald's

Corp.

61,814

18,066,996

Household

Products

—

1.6%

Procter

&

Gamble

Co.

(The)

61,814

9,824,717

Investments

Shares

Value

Common

Stocks

(continued)

Industrial

Conglomerates

—

3.0%

3M

Co.

61,814

$

5,694,306

Honeywell

International,

Inc.

61,814

12,284,296

17,978,602

Insurance

—

2.2%

Travelers

Cos.,

Inc.

(The)

61,814

13,658,422

IT

Services

—

1.9%

International

Business

Machines

Corp.

61,814

11,437,444

Machinery

—

3.4%

Caterpillar,

Inc.

61,814

20,643,403

Oil,

Gas

&

Consumable

Fuels

—

1.5%

Chevron

Corp.

61,814

9,396,346

Pharmaceuticals

—

2.9%

Johnson

&

Johnson

61,814

9,975,543

Merck

&

Co.,

Inc.

61,814

7,859,650

17,835,193

Semiconductors

&

Semiconductor

Equipment

—

0.4%

Intel

Corp.

61,814

2,661,093

Software

—

7.3%

Microsoft

Corp.

61,814

25,568,743

Salesforce,

Inc.*

61,814

19,089,399

44,658,142

Specialty

Retail

—

3.9%

Home

Depot,

Inc.

(The)

61,814

23,527,027

Technology

Hardware,

Storage

&

Peripherals

—

1.8%

Apple,

Inc.

61,814

11,172,881

Textiles,

Apparel

&

Luxury

Goods

—

1.1%

NIKE,

Inc.,

Class

a

B

61,814

6,424,329

Total

Common

Stocks

(Cost

$356,840,853)

367,973,855

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRAPRO

DOW30

~

SM

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

105

UDOW

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

5

.0

%

Repurchase

Agreements

(a)

—

5

.0

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$30,116,229

(Cost

$30,111,798)

$

30,111,798

$

30,111,798

Total

Investments

—

65.5%

(Cost

$386,952,651)

398,085,653

Other

assets

less

liabilities

—

34.5%

209,621,533

Net

Assets

—

100.0%

$

607,707,186

*

Non-income

producing

security.

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Futures

Contracts

Purchased

UltraPro

Dow30

SM

had

the

following

open

long

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

AAAAAA

Expiration

Date

AAAAAA

Trading

Currency

AA

Notional

Amount

AAAAAA

Value

and

Unrealized

Appreciation

AAAAAA

DJIA

CBOT

E-Mini

Index

94

3/15/2024

U.S.

Dollar

$

18,350,210

$

1,175,162

Swap

Agreements

UltraPro

Dow30

SM

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

($)

229,883,719

2/11/2025

Bank

of

America

NA

5.98%

Dow

Jones

Industrial

Average

SM

23,181,873

109,813,834

11/6/2025

Barclays

Capital

5.93%

Dow

Jones

Industrial

Average

SM

18,433,182

238,462,925

5/6/2025

BNP

Paribas

SA

5.93%

Dow

Jones

Industrial

Average

SM

6,480,381

218,925,734

5/6/2025

Citibank

NA

5.93%

Dow

Jones

Industrial

Average

SM

4,516,029

187,221,668

11/6/2025

Morgan

Stanley

&

Co.

International

plc

5.88%

Dow

Jones

Industrial

Average

SM

21,818,505

226,179,062

3/6/2025

Societe

Generale

5.93%

Dow

Jones

Industrial

Average

SM

29,700,688

226,023,076

5/6/2025

UBS

AG

5.48%

Dow

Jones

Industrial

Average

SM

5,033,293

1,436,510,018

109,163,951

Total

Unrealized

Appreciation

109,163,951

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRAPRO

MIDCAP400

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

106

UMDD

::

Investments

Shares

Value

Common

Stocks

—

64

.2

%

Aerospace

&

Defense

—

0.8%

BWX

Technologies,

Inc.

681

$

68,665

Curtiss-Wright

Corp.

285

67,337

Hexcel

Corp.

626

46,612

Woodward,

Inc.

450

63,671

246,285

Air

Freight

&

Logistics

—

0.1%

GXO

Logistics,

Inc.*

886

45,859

Automobile

Components

—

0.9%

Adient

plc*

698

23,690

Autoliv,

Inc.

558

64,745

Fox

Factory

Holding

Corp.*

316

15,986

Gentex

Corp.

1,737

63,453

Goodyear

Tire

&

Rubber

Co.

(The)*

2,112

25,090

Lear

Corp.

434

59,610

Visteon

Corp.*

207

23,416

275,990

Automobiles

—

0.3%

Harley-Davidson,

Inc.

944

34,239

Thor

Industries,

Inc.

397

50,887

85,126

Banks

—

3.2%

Associated

Banc-Corp.

1,107

23,070

Bank

OZK

784

34,339

Cadence

Bank

1,361

37,673

Columbia

Banking

System,

Inc.

1,553

28,109

Commerce

Bancshares,

Inc.

885

46,055

Cullen/Frost

Bankers,

Inc.

477

51,759

East

West

Bancorp,

Inc.

1,050

76,503

First

Financial

Bankshares,

Inc.

(a)

957

29,610

First

Horizon

Corp.

4,162

58,684

FNB

Corp.

2,673

35,658

Glacier

Bancorp,

Inc.

826

30,909

Hancock

Whitney

Corp.

642

27,991

Home

BancShares,

Inc.

1,398

32,797

International

Bancshares

Corp.

398

20,652

New

York

Community

Bancorp,

Inc.

5,381

25,775

Old

National

Bancorp

2,179

35,801

Pinnacle

Financial

Partners,

Inc.

572

47,316

Prosperity

Bancshares,

Inc.

698

43,562

SouthState

Corp.

567

47,651

Synovus

Financial

Corp.

1,089

41,317

Texas

Capital

Bancshares,

Inc.*

358

20,997

UMB

Financial

Corp.

325

26,523

United

Bankshares,

Inc.

1,005

34,863

Valley

National

Bancorp

3,176

26,011

Webster

Financial

Corp.

1,281

61,027

Wintrust

Financial

Corp.

456

43,936

988,588

Investments

Shares

Value

Common

Stocks

(continued)

Beverages

—

0.5%

Boston

Beer

Co.,

Inc.

(The),

Class

a

A*

70

$

21,570

Celsius

Holdings,

Inc.*

1,105

90,190

Coca-Cola

Consolidated,

Inc.

35

29,428

141,188

Biotechnology

—

1.0%

Arrowhead

Pharmaceuticals,

Inc.*

916

29,404

Exelixis,

Inc.*

2,316

50,720

Halozyme

Therapeutics,

Inc.*

984

39,173

Neurocrine

Biosciences,

Inc.*

732

95,453

United

Therapeutics

Corp.*

350

78,974

293,724

Broadline

Retail

—

0.3%

Macy's,

Inc.

2,038

35,543

Nordstrom,

Inc.(a)

723

15,161

Ollie's

Bargain

Outlet

Holdings,

Inc.*

460

36,878

87,582

Building

Products

—

2.3%

Advanced

Drainage

Systems,

Inc.

511

83,416

Carlisle

Cos.,

Inc.

363

127,050

Fortune

Brands

Innovations,

Inc.

939

76,378

Lennox

International,

Inc.

238

112,148

Owens

Corning

662

99,154

Simpson

Manufacturing

Co.,

Inc.

318

66,360

Trex

Co.,

Inc.*

809

74,234

UFP

Industries,

Inc.

460

52,730

691,470

Capital

Markets

—

1.9%

Affiliated

Managers

Group,

Inc.

252

39,390

Carlyle

Group,

Inc.

(The)

1,613

73,956

Evercore,

Inc.,

Class

a

A

258

48,267

Federated

Hermes,

Inc.,

Class

a

B

642

22,618

Houlihan

Lokey,

Inc.,

Class

a

A

384

49,405

Interactive

Brokers

Group,

Inc.,

Class

a

A

797

86,650

Janus

Henderson

Group

plc

987

30,755

Jefferies

Financial

Group,

Inc.

1,254

52,442

Morningstar,

Inc.

194

57,926

SEI

Investments

Co.

745

50,101

Stifel

Financial

Corp.

760

57,654

569,164

Chemicals

—

1.5%

Arcadium

Lithium

plc*

7,651

42,004

Ashland,

Inc.

382

35,771

Avient

Corp.

679

27,486

Axalta

Coating

Systems

Ltd.*

1,639

53,645

Cabot

Corp.

411

34,914

Chemours

Co.

(The)

1,106

21,755

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRAPRO

MIDCAP400

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

107

UMDD

::

Investments

Shares

Value

Common

Stocks

(continued)

NewMarket

Corp.

51

$

32,725

Olin

Corp.

913

49,119

RPM

International,

Inc.

960

110,736

Scotts

Miracle-Gro

Co.

(The)(a)

310

20,367

Westlake

Corp.

239

33,152

461,674

Commercial

Services

&

Supplies

—

0.8%

Brink's

Co.

(The)

336

27,831

Clean

Harbors,

Inc.*

375

68,287

MSA

Safety,

Inc.

275

50,641

Stericycle,

Inc.*

689

37,475

Tetra

Tech,

Inc.

397

70,396

254,630

Communications

Equipment

—

0.3%

Calix,

Inc.*

437

15,238

Ciena

Corp.*

1,101

62,735

Lumentum

Holdings,

Inc.*(a)

499

24,187

102,160

Construction

&

Engineering

—

1.4%

AECOM

1,033

91,761

Comfort

Systems

USA,

Inc.

266

81,324

EMCOR

Group,

Inc.

350

109,732

Fluor

Corp.*

1,269

46,699

MasTec,

Inc.*

450

33,957

MDU

Resources

Group,

Inc.

1,517

32,889

Valmont

Industries,

Inc.(a)

156

33,061

429,423

Construction

Materials

—

0.3%

Eagle

Materials,

Inc.

260

65,923

Knife

River

Corp.*

421

31,192

97,115

Consumer

Finance

—

0.5%

Ally

Financial,

Inc.

2,022

74,794

FirstCash

Holdings,

Inc.

275

31,487

SLM

Corp.

1,685

35,099

141,380

Consumer

Staples

Distribution

&

Retail

—

1.3%

BJ's

Wholesale

Club

Holdings,

Inc.*

996

72,748

Casey's

General

Stores,

Inc.

278

84,648

Grocery

Outlet

Holding

Corp.*

739

19,059

Performance

Food

Group

Co.*

1,159

88,976

Sprouts

Farmers

Market,

Inc.*

756

47,205

US

Foods

Holding

Corp.*

1,685

85,581

398,217

Containers

&

Packaging

—

1.1%

AptarGroup,

Inc.

490

68,825

Berry

Global

Group,

Inc.

879

51,167

Crown

Holdings,

Inc.

899

68,881

Graphic

Packaging

Holding

Co.

2,280

59,166

Greif,

Inc.,

Class

a

A

190

12,247

Silgan

Holdings,

Inc.

603

26,478

Investments

Shares

Value

Common

Stocks

(continued)

Sonoco

Products

Co.

730

$

41,377

328,141

Diversified

Consumer

Services

—

0.6%

Graham

Holdings

Co.,

Class

a

B

27

18,963

Grand

Canyon

Education,

Inc.*

220

29,656

H&R

Block,

Inc.

1,072

52,474

Service

Corp.

International

1,100

80,509

181,602

Diversified

REITs

—

0.3%

WP

Carey,

Inc.,

REIT

1,629

91,762

Diversified

Telecommunication

Services

—

0.2%

Frontier

Communications

Parent,

Inc.*

1,647

39,001

Iridium

Communications,

Inc.

922

26,692

65,693

Electric

Utilities

—

0.5%

ALLETE,

Inc.

428

24,242

IDACORP,

Inc.

377

33,217

OGE

Energy

Corp.

1,492

49,102

PNM

Resources,

Inc.

639

23,330

Portland

General

Electric

Co.

753

30,248

160,139

Electrical

Equipment

—

1.0%

Acuity

Brands,

Inc.

231

58,036

EnerSys

301

27,656

nVent

Electric

plc

1,236

83,208

Regal

Rexnord

Corp.

494

84,716

Sensata

Technologies

Holding

plc

1,127

38,791

Sunrun,

Inc.*

1,618

19,481

311,888

Electronic

Equipment,

Instruments

&

Components

—

1.5%

Arrow

Electronics,

Inc.*

403

47,353

Avnet,

Inc.

674

31,402

Belden,

Inc.

310

26,406

Cognex

Corp.

1,282

50,575

Coherent

Corp.*

982

58,409

Crane

NXT

Co.

360

21,031

IPG

Photonics

Corp.*

220

18,997

Littelfuse,

Inc.

185

44,074

Novanta,

Inc.*

267

46,175

TD

SYNNEX

Corp.

429

44,573

Vishay

Intertechnology,

Inc.

940

20,445

Vontier

Corp.

1,149

49,407

458,847

Energy

Equipment

&

Services

—

0.6%

ChampionX

Corp.

1,451

45,068

NOV,

Inc.

2,934

49,585

Valaris

Ltd.*

467

29,444

Weatherford

International

plc*

537

55,102

179,199

ULTRAPRO

MIDCAP400

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

108

UMDD

::

Investments

Shares

Value

Common

Stocks

(continued)

Entertainment

—

0.1%

TKO

Group

Holdings,

Inc.,

Class

a

A

447

$

37,427

Financial

Services

—

1.2%

Equitable

Holdings,

Inc.

2,370

81,149

Essent

Group

Ltd.

795

42,588

Euronet

Worldwide,

Inc.*

326

35,677

MGIC

Investment

Corp.

2,065

41,073

Voya

Financial,

Inc.

778

53,184

Western

Union

Co.

(The)

2,714

36,395

WEX,

Inc.*

318

69,874

359,940

Food

Products

—

0.7%

Darling

Ingredients,

Inc.*

1,188

50,264

Flowers

Foods,

Inc.

1,431

32,083

Ingredion,

Inc.

486

57,168

Lancaster

Colony

Corp.

152

31,452

Pilgrim's

Pride

Corp.*

300

9,552

Post

Holdings,

Inc.*

379

39,477

219,996

Gas

Utilities

—

0.6%

National

Fuel

Gas

Co.

684

33,338

New

Jersey

Resources

Corp.

727

30,251

ONE

Gas,

Inc.

413

24,615

Southwest

Gas

Holdings,

Inc.

447

30,463

Spire,

Inc.

392

23,253

UGI

Corp.

1,560

38,189

180,109

Ground

Transportation

—

1.4%

Avis

Budget

Group,

Inc.

138

14,910

Hertz

Global

Holdings,

Inc.*

986

7,740

Knight-Swift

Transportation

Holdings,

Inc.,

Class

a

A

1,201

67,664

Landstar

System,

Inc.

268

50,974

Ryder

System,

Inc.

330

37,653

Saia,

Inc.*

198

113,929

Werner

Enterprises,

Inc.

472

18,946

XPO,

Inc.*

864

103,956

415,772

Health

Care

Equipment

&

Supplies

—

1.4%

Enovis

Corp.*

370

22,131

Envista

Holdings

Corp.*

1,277

26,370

Globus

Medical,

Inc.,

Class

a

A*

859

46,377

Haemonetics

Corp.*

378

27,586

Inari

Medical,

Inc.*

381

17,572

Integra

LifeSciences

Holdings

Corp.*

507

18,713

Lantheus

Holdings,

Inc.*

510

33,344

LivaNova

plc*

401

21,979

Masimo

Corp.*

331

42,547

Neogen

Corp.*

1,466

25,201

Penumbra,

Inc.*

287

67,422

QuidelOrtho

Corp.*

368

16,781

Investments

Shares

Value

Common

Stocks

(continued)

Shockwave

Medical,

Inc.*

275

$

71,739

437,762

Health

Care

Providers

&

Services

—

1.4%

Acadia

Healthcare

Co.,

Inc.*

687

57,330

Amedisys,

Inc.*

243

22,604

Chemed

Corp.

112

70,127

Encompass

Health

Corp.

747

55,577

HealthEquity,

Inc.*

638

52,705

Option

Care

Health,

Inc.*

1,319

42,564

Progyny,

Inc.*

621

22,679

R1

RCM,

Inc.*

1,467

20,611

Tenet

Healthcare

Corp.*

756

70,308

414,505

Health

Care

REITs

—

0.5%

Healthcare

Realty

Trust,

Inc.,

Class

a

A,

REIT

2,837

39,094

Medical

Properties

Trust,

Inc.,

REIT(a)

4,461

18,781

Omega

Healthcare

Investors,

Inc.,

REIT

1,825

56,794

Sabra

Health

Care

REIT,

Inc.,

REIT

1,722

23,901

138,570

Health

Care

Technology

—

0.1%

Doximity,

Inc.,

Class

a

A*

880

24,842

Hotel

&

Resort

REITs

—

0.1%

Park

Hotels

&

Resorts,

Inc.,

REIT

1,564

25,962

Hotels,

Restaurants

&

Leisure

—

2.3%

Aramark

1,944

58,962

Boyd

Gaming

Corp.

518

34,255

Choice

Hotels

International,

Inc.(a)

185

20,709

Churchill

Downs,

Inc.

506

61,666

Hilton

Grand

Vacations,

Inc.*

531

23,831

Hyatt

Hotels

Corp.,

Class

a

A

329

50,531

Light

&

Wonder,

Inc.*

671

67,442

Marriott

Vacations

Worldwide

Corp.

246

22,925

Penn

Entertainment,

Inc.*

1,130

20,679

Planet

Fitness,

Inc.,

Class

a

A*

636

39,464

Texas

Roadhouse,

Inc.,

Class

a

A

497

74,237

Travel

+

Leisure

Co.

539

24,088

Vail

Resorts,

Inc.

284

65,408

Wendy's

Co.

(The)

1,244

22,529

Wingstop,

Inc.

219

76,880

Wyndham

Hotels

&

Resorts,

Inc.

618

47,308

710,914

Household

Durables

—

1.2%

Helen

of

Troy

Ltd.*

177

22,125

KB

Home

570

37,865

Leggett

&

Platt,

Inc.

993

20,277

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRAPRO

MIDCAP400

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

109

UMDD

::

Investments

Shares

Value

Common

Stocks

(continued)

Taylor

Morrison

Home

Corp.,

Class

a

A*

800

$

45,288

Tempur

Sealy

International,

Inc.

1,284

69,939

Toll

Brothers,

Inc.

801

91,827

TopBuild

Corp.*

237

95,364

382,685

Independent

Power

and

Renewable

Electricity

Producers

—

0.5%

Ormat

Technologies,

Inc.

400

26,060

Vistra

Corp.

2,503

136,514

162,574

Industrial

REITs

—

0.8%

EastGroup

Properties,

Inc.,

REIT

345

60,613

First

Industrial

Realty

Trust,

Inc.,

REIT

985

52,205

Rexford

Industrial

Realty,

Inc.,

REIT

1,572

79,984

STAG

Industrial,

Inc.,

REIT

1,352

50,213

243,015

Insurance

—

3.0%

American

Financial

Group,

Inc.

487

62,175

Brighthouse

Financial,

Inc.*

478

22,251

CNO

Financial

Group,

Inc.

835

22,286

Erie

Indemnity

Co.,

Class

a

A

186

75,680

Fidelity

National

Financial,

Inc.

1,926

97,417

First

American

Financial

Corp.

769

44,917

Hanover

Insurance

Group,

Inc.

(The)

266

34,971

Kemper

Corp.

449

25,741

Kinsale

Capital

Group,

Inc.

164

84,654

Old

Republic

International

Corp.

1,942

56,240

Primerica,

Inc.

261

64,013

Reinsurance

Group

of

America,

Inc.

491

86,833

RenaissanceRe

Holdings

Ltd.

391

87,905

RLI

Corp.

299

43,789

Selective

Insurance

Group,

Inc.

451

47,120

Unum

Group

1,366

67,549

923,541

Interactive

Media

&

Services

—

0.2%

Ziff

Davis,

Inc.*

343

23,585

ZoomInfo

Technologies,

Inc.,

Class

a

A*

2,206

36,972

60,557

IT

Services

—

0.5%

GoDaddy,

Inc.,

Class

a

A*

1,049

119,743

Kyndryl

Holdings,

Inc.*

1,709

37,547

157,290

Leisure

Products

—

0.5%

Brunswick

Corp.

513

44,836

Mattel,

Inc.*

2,631

51,831

Polaris,

Inc.

395

36,620

YETI

Holdings,

Inc.*

647

26,553

159,840

Investments

Shares

Value

Common

Stocks

(continued)

Life

Sciences

Tools

&

Services

—

0.8%

Azenta,

Inc.*

448

$

29,187

Bruker

Corp.

691

59,799

Medpace

Holdings,

Inc.*

174

69,169

Repligen

Corp.*

387

75,074

Sotera

Health

Co.*

737

11,062

244,291

Machinery

—

3.1%

AGCO

Corp.

463

50,791

Chart

Industries,

Inc.*

313

44,715

Crane

Co.

364

44,248

Donaldson

Co.,

Inc.

899

64,386

Esab

Corp.

422

41,829

Flowserve

Corp.

977

41,347

Graco,

Inc.

1,257

114,714

ITT,

Inc.

611

77,071

Lincoln

Electric

Holdings,

Inc.

426

109,311

Middleby

Corp.

(The)*

399

60,712

Oshkosh

Corp.

487

53,989

RBC

Bearings,

Inc.*

217

59,204

Terex

Corp.

501

28,732

Timken

Co.

(The)

483

40,567

Toro

Co.

(The)

773

71,356

Watts

Water

Technologies,

Inc.,

Class

a

A

204

41,606

944,578

Marine

Transportation

—

0.1%

Kirby

Corp.*

440

38,597

Media

—

0.4%

Cable

One,

Inc.

34

15,504

New

York

Times

Co.

(The),

Class

a

A

1,219

53,977

Nexstar

Media

Group,

Inc.,

Class

a

A

240

39,881

TEGNA,

Inc.

1,467

20,553

129,915

Metals

&

Mining

—

1.4%

Alcoa

Corp.

1,329

36,162

Cleveland-Cliffs,

Inc.*

3,760

78,208

Commercial

Metals

Co.

871

47,034

MP

Materials

Corp.*

1,073

16,320

Reliance,

Inc.

428

137,482

Royal

Gold,

Inc.

489

50,186

United

States

Steel

Corp.

1,661

78,632

444,024

Mortgage

Real

Estate

Investment

Trusts

(REITs)

—

0.4%

Annaly

Capital

Management,

Inc.

3,726

71,125

Starwood

Property

Trust,

Inc.

2,216

45,184

116,309

Multi-Utilities

—

0.2%

Black

Hills

Corp.

506

26,327

ULTRAPRO

MIDCAP400

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

110

UMDD

::

Investments

Shares

Value

Common

Stocks

(continued)

Northwestern

Energy

Group,

Inc.

456

$

21,852

48,179

Office

REITs

—

0.4%

COPT

Defense

Properties,

REIT

838

20,305

Cousins

Properties,

Inc.,

REIT

1,130

25,775

Kilroy

Realty

Corp.,

REIT

795

30,167

Vornado

Realty

Trust,

REIT

1,191

31,323

107,570

Oil,

Gas

&

Consumable

Fuels

—

2.6%

Antero

Midstream

Corp.

2,537

33,996

Antero

Resources

Corp.*

2,104

54,073

Chesapeake

Energy

Corp.

830

68,707

Chord

Energy

Corp.

307

49,872

Civitas

Resources,

Inc.

636

43,680

CNX

Resources

Corp.*

1,183

24,784

DT

Midstream,

Inc.

722

41,609

Equitrans

Midstream

Corp.

3,227

34,497

HF

Sinclair

Corp.

1,166

64,713

Matador

Resources

Co.

825

52,099

Murphy

Oil

Corp.

1,093

43,359

Ovintiv,

Inc.

1,890

93,385

PBF

Energy,

Inc.,

Class

a

A(a)

810

37,827

Permian

Resources

Corp.,

Class

a

A

3,096

48,174

Range

Resources

Corp.

1,797

56,821

Southwestern

Energy

Co.*

8,204

57,182

804,778

Paper

&

Forest

Products

—

0.1%

Louisiana-Pacific

Corp.

478

35,358

Personal

Care

Products

—

0.6%

BellRing

Brands,

Inc.*

979

55,754

Coty,

Inc.,

Class

a

A*

2,789

35,030

elf

Beauty,

Inc.*

411

85,706

176,490

Pharmaceuticals

—

0.3%

Jazz

Pharmaceuticals

plc*

469

55,764

Perrigo

Co.

plc

1,009

26,496

82,260

Professional

Services

—

1.8%

ASGN,

Inc.*

352

34,961

CACI

International,

Inc.,

Class

a

A*

166

62,225

Concentrix

Corp.

352

25,502

ExlService

Holdings,

Inc.*

1,228

38,215

Exponent,

Inc.

377

30,496

FTI

Consulting,

Inc.*

264

54,616

Genpact

Ltd.

1,243

42,262

Insperity,

Inc.

264

26,873

KBR,

Inc.

1,006

60,390

ManpowerGroup,

Inc.

364

26,266

Maximus,

Inc.

453

37,898

Paylocity

Holding

Corp.*

322

54,293

Investments

Shares

Value

Common

Stocks

(continued)

Science

Applications

International

Corp.

394

$

55,144

549,141

Real

Estate

Management

&

Development

—

0.2%

Jones

Lang

LaSalle,

Inc.*

354

67,345

Residential

REITs

—

0.8%

American

Homes

4

Rent,

Class

a

A,

REIT

2,356

87,196

Apartment

Income

REIT

Corp.,

Class

a

A,

REIT

1,095

33,201

Equity

LifeStyle

Properties,

Inc.,

REIT

1,388

93,440

Independence

Realty

Trust,

Inc.,

REIT

1,674

24,507

238,344

Retail

REITs

—

0.6%

Agree

Realty

Corp.,

REIT

749

41,157

Brixmor

Property

Group,

Inc.,

REIT

2,239

50,624

Kite

Realty

Group

Trust,

REIT

1,634

34,984

NNN

REIT,

Inc.,

REIT

1,359

55,298

182,063

Semiconductors

&

Semiconductor

Equipment

—

1.7%

Allegro

MicroSystems,

Inc.*

530

16,690

Amkor

Technology,

Inc.

769

23,854

Cirrus

Logic,

Inc.*

401

36,820

Lattice

Semiconductor

Corp.*

1,028

78,755

MACOM

Technology

Solutions

Holdings,

Inc.*

403

35,597

MKS

Instruments,

Inc.

468

57,452

Onto

Innovation,

Inc.*

366

67,402

Power

Integrations,

Inc.

423

30,228

Rambus,

Inc.*

801

47,451

Silicon

Laboratories,

Inc.*

237

32,597

Synaptics,

Inc.*

292

29,229

Universal

Display

Corp.

325

56,686

Wolfspeed,

Inc.*

933

24,277

537,038

Software

—

1.5%

Aspen

Technology,

Inc.*

209

40,523

Blackbaud,

Inc.*

321

22,207

CommVault

Systems,

Inc.*

326

31,201

Dolby

Laboratories,

Inc.,

Class

a

A

444

35,964

Dropbox,

Inc.,

Class

a

A*

1,908

45,697

Dynatrace,

Inc.*

1,776

88,001

Manhattan

Associates,

Inc.*

459

116,278

Qualys,

Inc.*

274

47,090

Teradata

Corp.*

728

27,387

454,348

Specialized

REITs

—

1.1%

CubeSmart,

REIT

1,675

73,047

EPR

Properties,

REIT

561

23,046

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRAPRO

MIDCAP400

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

111

UMDD

::

Investments

Shares

Value

Common

Stocks

(continued)

Gaming

and

Leisure

Properties,

Inc.,

REIT

1,989

$

90,484

Lamar

Advertising

Co.,

Class

a

A,

REIT

652

72,078

National

Storage

Affiliates

Trust,

REIT

575

20,591

PotlatchDeltic

Corp.,

REIT

591

26,719

Rayonier,

Inc.,

REIT

1,016

34,981

340,946

Specialty

Retail

—

2.5%

AutoNation,

Inc.*

193

28,912

Burlington

Stores,

Inc.*

483

99,063

Dick's

Sporting

Goods,

Inc.

458

81,474

Five

Below,

Inc.*

415

83,282

Floor

&

Decor

Holdings,

Inc.,

Class

a

A*

794

96,169

GameStop

Corp.,

Class

a

A*(a)

2,001

28,554

Gap,

Inc.

(The)

1,598

30,266

Lithia

Motors,

Inc.,

Class

a

A

205

61,307

Murphy

USA,

Inc.

144

60,050

Penske

Automotive

Group,

Inc.

145

22,258

RH*

115

31,556

Valvoline,

Inc.*

1,033

44,047

Williams-Sonoma,

Inc.

478

112,583

779,521

Technology

Hardware,

Storage

&

Peripherals

—

1.3%

Pure

Storage,

Inc.,

Class

a

A*

2,184

114,988

Super

Micro

Computer,

Inc.*

345

298,811

413,799

Textiles,

Apparel

&

Luxury

Goods

—

1.5%

Capri

Holdings

Ltd.*

866

39,949

Carter's,

Inc.

274

22,180

Columbia

Sportswear

Co.

257

21,251

Crocs,

Inc.*

451

55,135

Deckers

Outdoor

Corp.*

192

171,953

PVH

Corp.

450

61,502

Skechers

USA,

Inc.,

Class

a

A*

995

61,501

Under

Armour,

Inc.,

Class

a

A*

1,406

12,598

Under

Armour,

Inc.,

Class

a

C*

1,441

12,306

458,375

Trading

Companies

&

Distributors

—

0.9%

Core

&

Main,

Inc.,

Class

a

A*

1,251

59,710

GATX

Corp.

264

33,486

MSC

Industrial

Direct

Co.,

Inc.,

Class

a

A

345

34,825

Watsco,

Inc.

252

99,318

WESCO

International,

Inc.

327

48,883

276,222

Water

Utilities

—

0.2%

Essential

Utilities,

Inc.

1,872

65,108

Total

Common

Stocks

(Cost

$18,235,076)

19,676,746

Investments

Shares

Value

Securities

Lending

Reinvestments

(b)

—

0

.3

%

Investment

Companies

—

0

.3

%

Invesco

Government

&

Agency

Portfolio,

Institutional

Class

5.25%

(c)

(Cost

$107,295)

107,295

$

107,295

Principal

Amount

Short-Term

Investments

—

6

.7

%

Repurchase

Agreements

(d)

—

6

.7

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$2,062,521

(Cost

$2,062,216)

$

2,062,216

2,062,216

Total

Investments

—

71.2%

(Cost

$20,404,587)

21,846,257

Other

assets

less

liabilities

—

28.8%

8,844,079

Net

Assets

—

100.0%

$

30,690,336

*

Non-income

producing

security.

(a)

The

security

or

a

portion

of

this

security

is

on

loan

at

February

29,

2024.

The

total

value

of

securities

on

loan

at

February

29,

2024

was

$148,576,

collateralized

in

the

form

of

cash

with

a

value

of

$107,295

that

was

reinvested

in

the

securities

shown

in

the

Securities

Lending

Reinvestment

section

of

the

Schedule

of

Portfolio

Investments

and

$45,101

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

7.63%,

and

maturity

dates

ranging

from

March

15,

2024

–

August

15,

2053.

The

total

value

of

collateral

is

$152,396.

(b)

The

security

was

purchased

with

cash

collateral

held

from

securities

on

loan

at

February

29,

2024.

The

total

value

of

securities

purchased

was

$107,295.

(c)

Rate

shown

is

the

7-day

yield

as

of

February

29,

2024.

(d)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

ULTRAPRO

MIDCAP400

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

112

UMDD

::

Futures

Contracts

Purchased

UltraPro

MidCap400

had

the

following

open

long

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

AAAAAA

Expiration

Date

AAAAAA

Trading

Currency

AA

Notional

Amount

AAAAAA

Value

and

Unrealized

Appreciation

AAAAAA

S&P

Midcap

400

E-Mini

Index

11

3/15/2024

U.S.

Dollar

$

3,181,860

$

228,015

Swap

Agreements

UltraPro

MidCap400

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

($)

9,967,030

4/8/2024

Bank

of

America

NA

5.98%

S&P

MidCap

400

®

451,050

12,262,222

4/8/2024

BNP

Paribas

SA

5.88%

S&P

MidCap

400

®

440,433

13,947,483

3/6/2025

Citibank

NA

5.73%

S&P

MidCap

400

®

1,013,376

7,861,223

11/7/2024

Goldman

Sachs

International

5.83%

S&P

MidCap

400

®

184,922

6,290,098

4/8/2024

Morgan

Stanley

&

Co.

International

plc

5.88%

S&P

MidCap

400

®

1,185,968

7,316,286

4/8/2024

Societe

Generale

5.85%

S&P

MidCap

400

®

609,802

11,568,461

1/26/2026

UBS

AG

5.68%

S&P

MidCap

400

®

534,515

69,212,803

4,420,066

Total

Unrealized

Appreciation

4,420,066

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRAPRO

QQQ

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

113

TQQQ

::

Investments

Shares

Value

Common

Stocks

—

43

.4

%

Automobiles

—

1.2%

Tesla,

Inc.*

1,303,807

$

263,212,557

Beverages

—

1.2%

Coca-Cola

Europacific

Partners

plc

319,728

21,942,933

Keurig

Dr

Pepper,

Inc.

978,019

29,252,548

Monster

Beverage

Corp.*

727,485

42,994,364

PepsiCo,

Inc.

961,904

159,041,207

253,231,052

Biotechnology

—

1.7%

Amgen,

Inc.

374,425

102,528,798

Biogen,

Inc.*

101,122

21,942,463

Gilead

Sciences,

Inc.

872,476

62,905,520

Moderna,

Inc.*

266,650

24,595,796

Regeneron

Pharmaceuticals,

Inc.*

75,292

72,738,848

Vertex

Pharmaceuticals,

Inc.*

180,268

75,845,958

360,557,383

Broadline

Retail

—

2.8%

Amazon.com,

Inc.*

2,799,920

494,913,859

MercadoLibre,

Inc.*

35,290

56,298,137

PDD

Holdings,

Inc.,

ADR*

466,404

58,085,954

609,297,950

Commercial

Services

&

Supplies

—

0.4%

Cintas

Corp.

71,939

45,221,575

Copart,

Inc.*

671,378

35,683,741

80,905,316

Communications

Equipment

—

0.6%

Cisco

Systems,

Inc.

2,843,513

137,540,724

Consumer

Staples

Distribution

&

Retail

—

1.2%

Costco

Wholesale

Corp.

309,723

230,399,842

Dollar

Tree,

Inc.*

152,372

22,349,925

Walgreens

Boots

Alliance,

Inc.

603,657

12,833,748

265,583,515

Electric

Utilities

—

0.5%

American

Electric

Power

Co.,

Inc.

368,409

31,384,763

Constellation

Energy

Corp.

223,898

37,715,618

Exelon

Corp.

696,394

24,958,761

Xcel

Energy,

Inc.

385,922

20,334,230

114,393,372

Electronic

Equipment,

Instruments

&

Components

—

0.1%

CDW

Corp.

93,482

23,016,203

Energy

Equipment

&

Services

—

0.1%

Baker

Hughes

Co.,

Class

a

A

704,292

20,840,000

Investments

Shares

Value

Common

Stocks

(continued)

Entertainment

—

1.1%

Electronic

Arts,

Inc.

188,537

$

26,297,141

Netflix,

Inc.*

306,107

184,558,032

Take-Two

Interactive

Software,

Inc.*

118,850

17,462,631

Warner

Bros

Discovery,

Inc.*

1,705,071

14,987,574

243,305,378

Financial

Services

—

0.2%

PayPal

Holdings,

Inc.*

754,105

45,502,696

Food

Products

—

0.5%

Kraft

Heinz

Co.

(The)

857,585

30,255,599

Mondelez

International,

Inc.,

Class

a

A

952,596

69,606,190

99,861,789

Ground

Transportation

—

0.4%

CSX

Corp.

1,383,103

52,474,928

Old

Dominion

Freight

Line,

Inc.

75,817

33,547,506

86,022,434

Health

Care

Equipment

&

Supplies

—

0.9%

Dexcom,

Inc.*

270,130

31,083,859

GE

HealthCare

Technologies,

Inc.

318,898

29,109,010

IDEXX

Laboratories,

Inc.*

58,103

33,422,589

Intuitive

Surgical,

Inc.*

246,689

95,123,278

188,738,736

Hotels,

Restaurants

&

Leisure

—

1.3%

Airbnb,

Inc.,

Class

a

A*

304,293

47,917,019

Booking

Holdings,

Inc.*

24,173

83,852,027

DoorDash,

Inc.,

Class

a

A*

258,892

32,250,176

Marriott

International,

Inc.,

Class

a

A

205,594

51,371,773

Starbucks

Corp.

795,002

75,445,690

290,836,685

Industrial

Conglomerates

—

0.4%

Honeywell

International,

Inc.

460,993

91,613,139

Interactive

Media

&

Services

—

4.2%

Alphabet,

Inc.,

Class

a

A*

1,603,245

221,985,302

Alphabet,

Inc.,

Class

a

C*

1,550,996

216,798,221

Meta

Platforms,

Inc.,

Class

a

A

957,345

469,223,505

908,007,028

IT

Services

—

0.2%

Cognizant

Technology

Solutions

Corp.,

Class

a

A

350,646

27,708,047

MongoDB,

Inc.,

Class

a

A*

50,324

22,524,016

50,232,063

Life

Sciences

Tools

&

Services

—

0.1%

Illumina,

Inc.*

110,441

15,442,965

ULTRAPRO

QQQ

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

114

TQQQ

::

Investments

Shares

Value

Common

Stocks

(continued)

Machinery

—

0.2%

PACCAR,

Inc.

365,855

$

40,569,661

Media

—

0.9%

Charter

Communications,

Inc.,

Class

a

A*

103,546

30,435,276

Comcast

Corp.,

Class

a

A

2,810,097

120,412,656

Sirius

XM

Holdings,

Inc.(a)

2,686,121

11,872,655

Trade

Desk,

Inc.

(The),

Class

a

A*

311,913

26,646,728

189,367,315

Oil,

Gas

&

Consumable

Fuels

—

0.1%

Diamondback

Energy,

Inc.

124,562

22,735,056

Pharmaceuticals

—

0.1%

AstraZeneca

plc,

ADR

407,212

26,126,722

Professional

Services

—

0.6%

Automatic

Data

Processing,

Inc.

287,768

72,267,178

Paychex,

Inc.

252,670

30,982,395

Verisk

Analytics,

Inc.,

Class

a

A

101,230

24,487,537

127,737,110

Real

Estate

Management

&

Development

—

0.1%

CoStar

Group,

Inc.*

285,405

24,838,797

Semiconductors

&

Semiconductor

Equipment

—

9.9%

Advanced

Micro

Devices,

Inc.*

1,129,447

217,452,431

Analog

Devices,

Inc.

346,905

66,543,317

Applied

Materials,

Inc.

585,895

118,128,150

ASML

Holding

NV

(Registered),

NYRS

61,309

58,346,549

Broadcom,

Inc.

326,167

424,176,922

GLOBALFOUNDRIES,

Inc.*(a)

382,716

20,923,084

Intel

Corp.

2,950,094

127,001,547

KLA

Corp.

95,003

64,820,547

Lam

Research

Corp.

92,381

86,676,473

Marvell

Technology,

Inc.

604,209

43,297,617

Microchip

Technology,

Inc.

379,075

31,895,370

Micron

Technology,

Inc.

772,030

69,953,638

NVIDIA

Corp.

669,100

529,338,392

NXP

Semiconductors

NV

180,369

45,043,550

ON

Semiconductor

Corp.*

300,752

23,735,348

QUALCOMM,

Inc.

778,523

122,843,144

Texas

Instruments,

Inc.

634,521

106,174,399

2,156,350,478

Software

—

7.6%

Adobe,

Inc.*

318,969

178,711,951

ANSYS,

Inc.*

61,599

20,584,538

Atlassian

Corp.,

Class

a

A*

108,174

22,437,451

Autodesk,

Inc.*

149,979

38,720,079

Cadence

Design

Systems,

Inc.*

190,694

58,043,440

Crowdstrike

Holdings,

Inc.,

Class

a

A*

159,161

51,592,038

Datadog,

Inc.,

Class

a

A*

211,619

27,819,434

Investments

Shares

Value

Common

Stocks

(continued)

Fortinet,

Inc.*

537,537

$

37,149,182

Intuit,

Inc.

195,169

129,375,578

Microsoft

Corp.

2,013,913

833,034,973

Palo

Alto

Networks,

Inc.*

220,229

68,392,116

Roper

Technologies,

Inc.

75,182

40,953,891

Splunk,

Inc.*

117,917

18,420,994

Synopsys,

Inc.*

106,896

61,329,442

Workday,

Inc.,

Class

a

A*

145,705

42,933,435

Zscaler,

Inc.*

104,053

25,177,704

1,654,676,246

Specialty

Retail

—

0.4%

O'Reilly

Automotive,

Inc.*

41,208

44,810,403

Ross

Stores,

Inc.

237,008

35,304,712

80,115,115

Technology

Hardware,

Storage

&

Peripherals

—

3.5%

Apple,

Inc.

4,212,010

761,320,808

Textiles,

Apparel

&

Luxury

Goods

—

0.2%

Lululemon

Athletica,

Inc.*

85,015

39,709,656

Trading

Companies

&

Distributors

—

0.1%

Fastenal

Co.

400,056

29,208,089

Wireless

Telecommunication

Services

—

0.6%

T-Mobile

US,

Inc.

808,861

132,087,001

Total

Common

Stocks

(Cost

$9,257,856,198)

9,432,983,039

Securities

Lending

Reinvestments

(b)

—

0

.1

%

Investment

Companies

—

0

.1

%

Invesco

Government

&

Agency

Portfolio,

Institutional

Class

5.25%

(c)

(Cost

$28,966,537)

28,966,537

28,966,537

Principal

Amount

Short-Term

Investments

—

36

.4

%

Repurchase

Agreements

(d)

—

1

.5

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$332,363,788

(Cost

$332,314,901)

$

332,314,901

332,314,901

U.S.

Treasury

Obligations

(e)

—

34

.9

%

U.S.

Treasury

Bills

5.33%,

3/5/2024

(f)

350,000,000

349,795,229

5.27%,

3/7/2024

(f)

500,000,000

499,561,770

5.27%,

3/12/2024

(f)

100,000,000

99,838,850

5.42%,

3/14/2024

(f)

100,000,000

99,809,749

5.29%,

3/19/2024

(f)

250,000,000

249,337,500

5.44%,

3/21/2024

(f)

500,000,000

498,531,945

5.46%,

3/28/2024

(f)

200,000,000

199,208,750

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRAPRO

QQQ

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

115

TQQQ

::

Investments

Principal

Amount

Value

U.S.

Treasury

Obligations

(e)

(continued)

5.31%,

4/2/2024

(f)

$

200,000,000

$

199,058,666

5.45%,

4/4/2024

(f)

1,550,000,000

1,542,268,228

5.33%,

4/18/2024

(f)

600,000,000

595,788,000

5.30%,

5/9/2024

(f)

500,000,000

494,971,145

5.30%,

5/21/2024

(f)

400,000,000

395,297,048

5.30%,

5/23/2024

(f)

300,000,000

296,378,778

5.20%,

6/13/2024

(f)

500,000,000

492,467,220

5.30%,

6/18/2024

(f)

350,000,000

344,446,525

5.17%,

7/5/2024

(f)

200,000,000

196,395,000

4.91%,

7/11/2024

(f)

200,000,000

196,229,200

5.19%,

8/8/2024

(f)

850,000,000

830,633,226

Total

U.S.

Treasury

Obligations

(Cost

$7,580,905,369)

7,580,016,829

Total

Short-Term

Investments

(Cost

$7,913,220,270)

7,912,331,730

Total

Investments

—

79.9%

(Cost

$17,200,043,005)

17,374,281,306

Other

assets

less

liabilities

—

20.1%

4,371,116,839

Net

Assets

—

100.0%

$

21,745,398,145

*

Non-income

producing

security.

(a)

The

security

or

a

portion

of

this

security

is

on

loan

at

February

29,

2024.

The

total

value

of

securities

on

loan

at

February

29,

2024

was

$28,546,377,

collateralized

in

the

form

of

cash

with

a

value

of

$28,966,537

that

was

reinvested

in

the

securities

shown

in

the

Securities

Lending

Reinvestment

section

of

the

Schedule

of

Portfolio

Investments

and

$32,339

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

4.38%,

and

maturity

dates

ranging

from

March

31,

2025

–

November

15,

2052.

The

total

value

of

collateral

is

$28,998,876.

(b)

The

security

was

purchased

with

cash

collateral

held

from

securities

on

loan

at

February

29,

2024.

The

total

value

of

securities

purchased

was

$28,966,537.

(c)

Rate

shown

is

the

7-day

yield

as

of

February

29,

2024.

(d)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

(e)

All

or

a

portion

of

these

securities

are

segregated

in

connection

with

obligations

for

swaps

with

a

total

value

of

$6,148,127,100.

(f)

The

rate

shown

was

the

current

yield

as

of

February

29,

2024.

Abbreviations

ADR

American

Depositary

Receipt

NYRS

New

York

Registry

Shares

Futures

Contracts

Purchased

UltraPro

QQQ

had

the

following

open

long

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

AAAAAA

Expiration

Date

AAAAAA

Trading

Currency

AA

Notional

Amount

AAAAAA

Value

and

Unrealized

Appreciation

AAAAAA

Nasdaq

100

E-Mini

Index

3,027

3/15/2024

U.S.

Dollar

$

1,094,729,685

$

106,105,729

Swap

Agreements

UltraPro

QQQ

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

($)

5,512,396,175

5/6/2025

Bank

of

America

NA

5.98%

Nasdaq-100

Index

®

1,141,725,005

6,857,619,324

5/6/2025

Barclays

Capital

5.93%

Nasdaq-100

Index

®

209,399,955

6,523,122,433

11/6/2025

BNP

Paribas

SA

6.08%

Nasdaq-100

Index

®

212,839,325

6,687,826,696

2/11/2025

Citibank

NA

6.08%

Nasdaq-100

Index

®

269,838,208

7,662,826,130

3/13/2025

Goldman

Sachs

International

6.03%

Nasdaq-100

Index

®

720,290,370

5,511,042,886

4/7/2025

J.P.

Morgan

Securities

5.93%

Nasdaq-100

Index

®

479,953,975

5,283,924,946

11/6/2025

Morgan

Stanley

&

Co.

International

plc

5.88%

Nasdaq-100

Index

®

199,417,588

5,439,715,547

12/11/2025

Societe

Generale

6.28%

Nasdaq-100

Index

®

98,626,519

5,231,272,992

4/7/2025

UBS

AG

6.13%

Nasdaq-100

Index

®

1,155,972,098

54,709,747,129

4,488,063,043

Total

Unrealized

Appreciation

4,488,063,043

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRAPRO

RUSSELL2000

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

116

URTY

::

Investments

Shares

Value

Common

Stocks

—

56

.8

%

Aerospace

&

Defense

—

0.6%

AAR

Corp.*

2,780

$

185,648

AeroVironment,

Inc.*

2,137

270,950

AerSale

Corp.*

2,103

18,591

Archer

Aviation,

Inc.,

Class

a

A*(a)

12,530

60,520

Astronics

Corp.*

2,160

41,407

Cadre

Holdings,

Inc.

1,597

57,380

Ducommun,

Inc.*

1,100

52,492

Eve

Holding,

Inc.*(a)

1,487

8,253

Kaman

Corp.

2,315

106,050

Kratos

Defense

&

Security

Solutions,

Inc.*

11,838

215,925

Leonardo

DRS,

Inc.*

5,643

128,153

Moog,

Inc.,

Class

a

A

2,331

349,534

National

Presto

Industries,

Inc.

424

32,788

Park

Aerospace

Corp.

1,529

23,271

Parsons

Corp.*

3,392

273,429

Redwire

Corp.*(a)

645

2,083

Rocket

Lab

USA,

Inc.*

22,902

105,006

Terran

Orbital

Corp.*(a)

8,125

8,775

Triumph

Group,

Inc.*

5,292

73,559

V2X,

Inc.*

946

36,421

Virgin

Galactic

Holdings,

Inc.*(a)

26,961

46,912

2,097,147

Air

Freight

&

Logistics

—

0.1%

Air

Transport

Services

Group,

Inc.*

4,631

55,896

Forward

Air

Corp.

2,116

78,567

Hub

Group,

Inc.,

Class

a

A*

5,167

219,753

Radiant

Logistics,

Inc.*

2,995

17,371

371,587

Automobile

Components

—

0.7%

Adient

plc*

7,710

261,677

American

Axle

&

Manufacturing

Holdings,

Inc.*

9,382

64,923

Atmus

Filtration

Technologies,

Inc.*

1,349

32,201

Cooper-Standard

Holdings,

Inc.*

1,389

19,529

Dana,

Inc.

10,713

133,913

Dorman

Products,

Inc.*

2,164

203,892

Fox

Factory

Holding

Corp.*

3,506

177,369

Gentherm,

Inc.*

2,694

153,181

Goodyear

Tire

&

Rubber

Co.

(The)*

23,135

274,844

Holley,

Inc.*

4,336

18,601

LCI

Industries

2,030

255,739

Luminar

Technologies,

Inc.,

Class

a

A*(a)

22,373

53,472

Modine

Manufacturing

Co.*

4,229

379,384

Patrick

Industries,

Inc.

1,753

210,255

Solid

Power,

Inc.*(a)

12,728

20,874

Standard

Motor

Products,

Inc.

1,690

53,674

Stoneridge,

Inc.*

2,174

38,197

Visteon

Corp.*

2,268

256,556

XPEL,

Inc.*(b)

1,857

97,641

2,705,922

Investments

Shares

Value

Common

Stocks

(continued)

Automobiles

—

0.1%

Fisker,

Inc.,

Class

a

A*(a)

17,172

$

12,504

Livewire

Group,

Inc.*(a)

1,579

14,811

Winnebago

Industries,

Inc.

2,385

171,076

Workhorse

Group,

Inc.*(a)

16,951

5,672

204,063

Banks

—

4.8%

1st

Source

Corp.

1,356

67,502

ACNB

Corp.

684

24,104

Amalgamated

Financial

Corp.

1,452

33,512

Amerant

Bancorp,

Inc.,

Class

a

A

2,119

44,902

American

National

Bankshares,

Inc.

843

38,036

Ameris

Bancorp

5,439

251,989

Ames

National

Corp.(a)

708

13,431

Arrow

Financial

Corp.

1,211

29,040

Associated

Banc-Corp.

12,441

259,270

Atlantic

Union

Bankshares

Corp.

6,172

205,281

Axos

Financial,

Inc.*

4,564

237,876

Banc

of

California,

Inc.

10,787

157,814

BancFirst

Corp.

1,811

158,897

Bancorp,

Inc.

(The)*

4,278

190,970

Bank

First

Corp.(a)

767

66,346

Bank

of

Hawaii

Corp.(a)

3,222

194,222

Bank

of

Marin

Bancorp

1,293

21,477

Bank

of

NT

Butterfield

&

Son

Ltd.

(The)

3,989

119,231

Bank7

Corp.

307

8,599

BankUnited,

Inc.

6,114

163,977

Bankwell

Financial

Group,

Inc.

483

12,302

Banner

Corp.

2,812

123,278

Bar

Harbor

Bankshares

1,228

30,970

BayCom

Corp.

921

18,438

BCB

Bancorp,

Inc.

1,237

12,976

Berkshire

Hills

Bancorp,

Inc.

3,573

76,784

Blue

Foundry

Bancorp*

1,859

17,512

Blue

Ridge

Bankshares,

Inc.

1,464

3,587

Bridgewater

Bancshares,

Inc.*

1,680

19,908

Brookline

Bancorp,

Inc.

7,173

70,080

Burke

&

Herbert

Financial

Services

Corp.(a)

529

28,926

Business

First

Bancshares,

Inc.

1,972

44,271

Byline

Bancorp,

Inc.

2,033

42,368

C&F

Financial

Corp.

262

13,999

Cadence

Bank

14,975

414,508

Cambridge

Bancorp

626

39,601

Camden

National

Corp.

1,173

37,278

Capital

Bancorp,

Inc.

780

16,060

Capital

City

Bank

Group,

Inc.

1,085

30,760

Capitol

Federal

Financial,

Inc.

10,492

60,749

Capstar

Financial

Holdings,

Inc.

1,571

29,456

Carter

Bankshares,

Inc.*

1,864

24,605

Cathay

General

Bancorp

5,713

223,093

Central

Pacific

Financial

Corp.

2,182

40,716

Central

Valley

Community

Bancorp

820

15,326

Chemung

Financial

Corp.

289

12,311

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRAPRO

RUSSELL2000

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

117

URTY

::

Investments

Shares

Value

Common

Stocks

(continued)

ChoiceOne

Financial

Services,

Inc.

574

$

15,274

Citizens

&

Northern

Corp.

1,229

22,564

Citizens

Financial

Services,

Inc.

313

14,633

City

Holding

Co.

1,223

122,887

Civista

Bancshares,

Inc.

1,270

19,075

CNB

Financial

Corp.

1,686

33,703

Coastal

Financial

Corp.*

888

34,090

Codorus

Valley

Bancorp,

Inc.

766

17,633

Colony

Bankcorp,

Inc.

1,356

15,377

Columbia

Financial,

Inc.*

2,439

40,804

Community

Bank

System,

Inc.

4,378

198,323

Community

Trust

Bancorp,

Inc.

1,277

50,774

ConnectOne

Bancorp,

Inc.

3,008

59,528

CrossFirst

Bankshares,

Inc.*

3,712

47,773

Customers

Bancorp,

Inc.*

2,350

127,629

CVB

Financial

Corp.

10,935

186,114

Dime

Community

Bancshares,

Inc.

2,873

53,840

Eagle

Bancorp,

Inc.

2,421

57,668

Eastern

Bankshares,

Inc.

12,735

164,536

Enterprise

Bancorp,

Inc.

788

21,355

Enterprise

Financial

Services

Corp.

2,982

119,041

Equity

Bancshares,

Inc.,

Class

a

A

1,202

38,260

Esquire

Financial

Holdings,

Inc.

565

28,691

ESSA

Bancorp,

Inc.

714

12,395

Evans

Bancorp,

Inc.

431

12,801

Farmers

&

Merchants

Bancorp,

Inc.

1,042

21,048

Farmers

National

Banc

Corp.

2,992

40,332

FB

Financial

Corp.

2,914

103,855

Fidelity

D&D

Bancorp,

Inc.

384

19,177

Financial

Institutions,

Inc.

1,247

22,895

First

Bancorp(a)

14,134

239,995

First

Bancorp

3,271

111,607

First

Bancorp,

Inc.

(The)

803

18,967

First

Bancshares,

Inc.

(The)

2,521

62,596

First

Bank

1,674

22,448

First

Busey

Corp.

4,268

98,420

First

Business

Financial

Services,

Inc.

645

22,756

First

Commonwealth

Financial

Corp.

8,411

109,595

First

Community

Bankshares,

Inc.

1,412

46,794

First

Community

Corp.

606

9,957

First

Financial

Bancorp

7,741

167,980

First

Financial

Bankshares,

Inc.

10,711

331,398

First

Financial

Corp.

939

34,959

First

Foundation,

Inc.

4,206

33,354

First

Interstate

BancSystem,

Inc.,

Class

a

A

6,788

178,660

First

Merchants

Corp.

4,858

161,286

First

Mid

Bancshares,

Inc.

1,828

55,388

First

of

Long

Island

Corp.

(The)

1,750

19,495

First

Western

Financial,

Inc.*

657

9,297

Five

Star

Bancorp

1,049

24,893

Flushing

Financial

Corp.

2,276

29,224

FS

Bancorp,

Inc.

542

18,087

Fulton

Financial

Corp.

13,208

203,403

Investments

Shares

Value

Common

Stocks

(continued)

FVCBankcorp,

Inc.*

1,317

$

15,949

German

American

Bancorp,

Inc.

2,305

72,515

Glacier

Bancorp,

Inc.

9,167

343,029

Great

Southern

Bancorp,

Inc.

728

37,958

Greene

County

Bancorp,

Inc.

574

16,393

Guaranty

Bancshares,

Inc.

672

19,327

Hancock

Whitney

Corp.

7,131

310,912

Hanmi

Financial

Corp.

2,501

37,790

HarborOne

Bancorp,

Inc.

3,369

34,296

HBT

Financial,

Inc.

1,090

20,775

Heartland

Financial

USA,

Inc.

3,474

118,116

Heritage

Commerce

Corp.

4,868

40,356

Heritage

Financial

Corp.

2,849

52,279

Hilltop

Holdings,

Inc.

3,837

118,487

Hingham

Institution

For

Savings

(The)(a)

123

20,662

Home

Bancorp,

Inc.

589

21,646

Home

BancShares,

Inc.

15,677

367,782

HomeStreet,

Inc.

1,488

20,758

HomeTrust

Bancshares,

Inc.

1,208

31,710

Hope

Bancorp,

Inc.

9,484

104,039

Horizon

Bancorp,

Inc.

3,544

42,670

Independent

Bank

Corp.

1,637

40,025

Independent

Bank

Corp.

3,631

189,429

Independent

Bank

Group,

Inc.

2,973

130,009

International

Bancshares

Corp.

4,414

229,042

John

Marshall

Bancorp,

Inc.

1,025

17,938

Kearny

Financial

Corp.

4,602

29,269

Lakeland

Bancorp,

Inc.

5,125

59,860

Lakeland

Financial

Corp.

2,039

129,884

LCNB

Corp.

868

12,221

Live

Oak

Bancshares,

Inc.

2,764

109,786

Macatawa

Bank

Corp.

2,162

21,188

MainStreet

Bancshares,

Inc.

574

10,341

Mercantile

Bank

Corp.

1,289

47,487

Metrocity

Bankshares,

Inc.

1,501

36,474

Metropolitan

Bank

Holding

Corp.*

849

33,289

Mid

Penn

Bancorp,

Inc.

1,167

24,542

Middlefield

Banc

Corp.

645

15,828

Midland

States

Bancorp,

Inc.

1,709

41,614

MidWestOne

Financial

Group,

Inc.

1,168

26,771

MVB

Financial

Corp.

934

19,997

National

Bank

Holdings

Corp.,

Class

a

A

3,027

102,434

National

Bankshares,

Inc.(a)

473

14,791

NBT

Bancorp,

Inc.

3,765

129,478

Nicolet

Bankshares,

Inc.

1,057

83,429

Northeast

Bank

550

29,365

Northeast

Community

Bancorp,

Inc.

1,041

16,229

Northfield

Bancorp,

Inc.

3,295

33,280

Northrim

Bancorp,

Inc.

443

22,030

Northwest

Bancshares,

Inc.

10,472

120,009

Norwood

Financial

Corp.(a)

597

16,483

Oak

Valley

Bancorp

551

13,736

OceanFirst

Financial

Corp.

4,786

72,747

OFG

Bancorp

3,793

137,382

Old

National

Bancorp

24,079

395,618

ULTRAPRO

RUSSELL2000

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

118

URTY

::

Investments

Shares

Value

Common

Stocks

(continued)

Old

Second

Bancorp,

Inc.

3,566

$

47,891

Orange

County

Bancorp,

Inc.

420

19,312

Origin

Bancorp,

Inc.

2,398

71,556

Orrstown

Financial

Services,

Inc.

839

22,611

Pacific

Premier

Bancorp,

Inc.

7,797

178,239

Park

National

Corp.

1,176

151,128

Parke

Bancorp,

Inc.

858

14,801

Pathward

Financial,

Inc.

2,142

108,899

PCB

Bancorp

896

14,470

Peapack-Gladstone

Financial

Corp.

1,385

33,559

Penns

Woods

Bancorp,

Inc.

562

10,869

Peoples

Bancorp,

Inc.

2,867

80,477

Peoples

Financial

Services

Corp.

564

22,757

Pioneer

Bancorp,

Inc.*

956

8,910

Plumas

Bancorp

449

15,643

Ponce

Financial

Group,

Inc.*

1,599

14,103

Preferred

Bank

1,064

76,448

Premier

Financial

Corp.

2,906

56,318

Primis

Financial

Corp.

1,664

20,550

Princeton

Bancorp,

Inc.

417

12,835

Provident

Financial

Services,

Inc.

6,035

91,008

QCR

Holdings,

Inc.

1,356

77,292

RBB

Bancorp

1,376

23,695

Red

River

Bancshares,

Inc.

396

19,721

Renasant

Corp.

4,536

143,383

Republic

Bancorp,

Inc.,

Class

a

A

699

34,433

S&T

Bancorp,

Inc.

3,133

97,718

Sandy

Spring

Bancorp,

Inc.

3,603

79,194

Seacoast

Banking

Corp.

of

Florida

6,922

167,097

ServisFirst

Bancshares,

Inc.

4,187

264,577

Shore

Bancshares,

Inc.

2,448

27,809

Sierra

Bancorp

1,107

20,601

Simmons

First

National

Corp.,

Class

a

A

10,201

195,859

SmartFinancial,

Inc.

1,302

28,019

South

Plains

Financial,

Inc.

961

25,639

Southern

First

Bancshares,

Inc.*

631

20,791

Southern

Missouri

Bancorp,

Inc.

779

33,404

Southern

States

Bancshares,

Inc.

625

15,538

Southside

Bancshares,

Inc.

2,360

67,638

SouthState

Corp.

6,258

525,922

Stellar

Bancorp,

Inc.

4,000

94,800

Sterling

Bancorp,

Inc.*

1,788

9,012

Stock

Yards

Bancorp,

Inc.

2,229

102,111

Summit

Financial

Group,

Inc.

924

24,930

Texas

Capital

Bancshares,

Inc.*

3,935

230,788

Third

Coast

Bancshares,

Inc.*

1,058

20,282

Timberland

Bancorp,

Inc.

612

16,034

Tompkins

Financial

Corp.

1,138

54,806

Towne

Bank

5,768

156,370

TriCo

Bancshares

2,553

85,296

Triumph

Financial,

Inc.*

1,825

136,875

TrustCo

Bank

Corp.

1,528

41,699

Trustmark

Corp.

4,999

134,273

UMB

Financial

Corp.

3,638

296,897

Investments

Shares

Value

Common

Stocks

(continued)

United

Bankshares,

Inc.

10,756

$

373,126

United

Community

Banks,

Inc.

9,500

247,095

Unity

Bancorp,

Inc.

592

16,209

Univest

Financial

Corp.

2,383

47,708

USCB

Financial

Holdings,

Inc.

864

9,435

Valley

National

Bancorp

35,478

290,565

Veritex

Holdings,

Inc.

4,310

84,605

Virginia

National

Bankshares

Corp.

387

11,773

WaFd,

Inc.

5,606

152,707

Washington

Trust

Bancorp,

Inc.

1,390

35,779

WesBanco,

Inc.

4,741

137,394

West

Bancorp,

Inc.

1,330

23,142

Westamerica

Bancorp

2,126

97,179

WSFS

Financial

Corp.

5,032

213,306

17,823,336

Beverages

—

0.2%

Coca-Cola

Consolidated,

Inc.

392

329,593

Duckhorn

Portfolio,

Inc.

(The)*

3,606

34,293

MGP

Ingredients,

Inc.

1,302

110,904

National

Beverage

Corp.*

1,948

102,543

Primo

Water

Corp.

12,861

208,477

Vita

Coco

Co.,

Inc.

(The)*

2,347

61,257

Zevia

PBC,

Class

a

A*

2,080

3,120

850,187

Biotechnology

—

4.6%

2seventy

bio,

Inc.*(a)

4,125

21,450

4D

Molecular

Therapeutics,

Inc.*

3,281

91,934

89bio,

Inc.*

5,258

60,309

Aadi

Bioscience,

Inc.*

1,329

2,618

ACADIA

Pharmaceuticals,

Inc.*

9,950

231,238

ACELYRIN,

Inc.*

2,721

22,992

Acrivon

Therapeutics,

Inc.*

714

3,470

Actinium

Pharmaceuticals,

Inc.*(a)

2,240

19,107

Adicet

Bio,

Inc.*

2,495

5,863

ADMA

Biologics,

Inc.*

17,503

93,816

Aerovate

Therapeutics,

Inc.*

919

21,210

Agenus,

Inc.*

31,294

20,967

Agios

Pharmaceuticals,

Inc.*

4,561

147,411

Akero

Therapeutics,

Inc.*

4,215

113,763

Aldeyra

Therapeutics,

Inc.*

3,824

13,843

Alector,

Inc.*

5,213

36,335

Alkermes

plc*

13,626

404,556

Allakos,

Inc.*

5,458

8,078

Allogene

Therapeutics,

Inc.*

7,759

38,097

Allovir,

Inc.*

4,181

3,080

Alpine

Immune

Sciences,

Inc.*

2,674

94,178

Altimmune,

Inc.*

4,339

52,502

ALX

Oncology

Holdings,

Inc.*

2,213

32,465

Amicus

Therapeutics,

Inc.*

23,334

299,142

AnaptysBio,

Inc.*

1,537

39,240

Anavex

Life

Sciences

Corp.*(a)

5,935

30,506

Anika

Therapeutics,

Inc.*

1,202

29,185

Annexon,

Inc.*

3,749

20,882

Apogee

Therapeutics,

Inc.*(a)

1,685

58,672

Arbutus

Biopharma

Corp.*

10,401

29,123

Arcellx,

Inc.*

3,150

207,333

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRAPRO

RUSSELL2000

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

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URTY

::

Investments

Shares

Value

Common

Stocks

(continued)

Arcturus

Therapeutics

Holdings,

Inc.*

1,915

$

74,225

Arcus

Biosciences,

Inc.*

4,416

84,478

Arcutis

Biotherapeutics,

Inc.*(a)

6,494

66,758

Ardelyx,

Inc.*

18,933

176,456

Arrowhead

Pharmaceuticals,

Inc.*

9,511

305,303

ARS

Pharmaceuticals,

Inc.*

2,016

16,874

Astria

Therapeutics,

Inc.*

2,716

38,621

Atara

Biotherapeutics,

Inc.*

7,952

6,187

Aura

Biosciences,

Inc.*

2,279

20,670

Aurinia

Pharmaceuticals,

Inc.*

11,119

63,601

Avid

Bioservices,

Inc.*

5,095

39,130

Avidity

Biosciences,

Inc.*

6,074

111,154

Avita

Medical,

Inc.*

2,064

37,420

Beam

Therapeutics,

Inc.*

5,953

235,084

BioAtla,

Inc.*

3,631

9,804

BioCryst

Pharmaceuticals,

Inc.*

15,565

87,631

Biohaven

Ltd.*

5,618

270,450

Biomea

Fusion,

Inc.*(a)

1,631

28,542

BioVie,

Inc.,

Class

a

A*

992

1,230

Bioxcel

Therapeutics,

Inc.*(a)

1,665

5,295

Bluebird

Bio,

Inc.*

8,788

12,215

Blueprint

Medicines

Corp.*

4,994

467,039

Bridgebio

Pharma,

Inc.*

9,405

321,181

Cabaletta

Bio,

Inc.*

2,827

64,682

CareDx,

Inc.*

4,275

45,486

Caribou

Biosciences,

Inc.*

6,722

53,171

Carisma

Therapeutics,

Inc.(a)

2,189

5,648

Cartesian

Therapeutics,

Inc.*(a)

9,646

7,056

Catalyst

Pharmaceuticals,

Inc.*

8,246

132,183

Celcuity,

Inc.*(a)

1,433

22,297

Celldex

Therapeutics,

Inc.*

3,814

183,301

Century

Therapeutics,

Inc.*

1,922

7,054

Cerevel

Therapeutics

Holdings,

Inc.*

5,741

235,381

Cogent

Biosciences,

Inc.*

6,821

47,747

Coherus

Biosciences,

Inc.*

8,195

18,685

Compass

Therapeutics,

Inc.*

7,492

13,336

Crinetics

Pharmaceuticals,

Inc.*

5,363

219,561

Cue

Biopharma,

Inc.*(a)

2,954

6,129

Cullinan

Oncology,

Inc.*

2,123

39,212

Cytokinetics,

Inc.*

7,647

552,419

Day

One

Biopharmaceuticals,

Inc.*

5,145

86,076

Deciphera

Pharmaceuticals,

Inc.*

4,388

73,236

Denali

Therapeutics,

Inc.*

9,701

191,886

Design

Therapeutics,

Inc.*

2,690

7,478

Disc

Medicine,

Inc.*

735

50,472

Dynavax

Technologies

Corp.*

10,643

134,847

Dyne

Therapeutics,

Inc.*

3,653

98,266

Eagle

Pharmaceuticals,

Inc.*

850

4,981

Editas

Medicine,

Inc.*

6,754

67,945

Emergent

BioSolutions,

Inc.*

4,270

13,792

Enanta

Pharmaceuticals,

Inc.*

1,643

23,610

Entrada

Therapeutics,

Inc.*(a)

1,757

23,245

Erasca,

Inc.*

6,626

15,770

Fate

Therapeutics,

Inc.*

6,960

49,346

Fennec

Pharmaceuticals,

Inc.*

1,492

14,129

Investments

Shares

Value

Common

Stocks

(continued)

FibroGen,

Inc.*

7,580

$

12,962

Foghorn

Therapeutics,

Inc.*(a)

1,670

12,909

Genelux

Corp.*(a)

1,524

11,125

Generation

Bio

Co.*

3,716

9,327

Geron

Corp.*

42,068

84,136

Graphite

Bio,

Inc.*

2,301

7,800

Gritstone

bio,

Inc.*(a)

7,207

20,180

Halozyme

Therapeutics,

Inc.*

10,664

424,534

Heron

Therapeutics,

Inc.*(a)

8,502

22,615

HilleVax,

Inc.*(a)

2,152

39,059

Humacyte,

Inc.*

5,029

21,876

Ideaya

Biosciences,

Inc.*

4,942

220,907

IGM

Biosciences,

Inc.*(a)

1,090

13,767

Immuneering

Corp.,

Class

a

A*(a)

1,838

11,396

ImmunityBio,

Inc.*(a)

10,887

51,495

Immunovant,

Inc.*

4,431

156,724

Inhibrx,

Inc.*

2,820

103,297

Inozyme

Pharma,

Inc.*(a)

3,921

24,938

Insmed,

Inc.*

11,350

314,622

Intellia

Therapeutics,

Inc.*

7,247

232,774

Iovance

Biotherapeutics,

Inc.*

18,835

299,665

Ironwood

Pharmaceuticals,

Inc.,

Class

a

A*

11,385

107,361

iTeos

Therapeutics,

Inc.*

2,035

21,795

Janux

Therapeutics,

Inc.*(a)

1,421

68,748

KalVista

Pharmaceuticals,

Inc.*

2,542

34,698

Karyopharm

Therapeutics,

Inc.*(a)

9,300

10,788

Keros

Therapeutics,

Inc.*

1,848

124,740

Kezar

Life

Sciences,

Inc.*

5,861

6,154

Kiniksa

Pharmaceuticals

Ltd.,

Class

a

A*

2,577

54,478

Kodiak

Sciences,

Inc.*

2,663

16,005

Krystal

Biotech,

Inc.*

1,776

283,219

Kura

Oncology,

Inc.*

5,795

122,159

Kymera

Therapeutics,

Inc.*

3,118

133,139

Larimar

Therapeutics,

Inc.*

2,107

24,230

Lexicon

Pharmaceuticals,

Inc.*(a)

7,606

18,939

Lineage

Cell

Therapeutics,

Inc.*(a)

10,895

11,331

Lyell

Immunopharma,

Inc.*

14,248

41,604

MacroGenics,

Inc.*

4,998

89,664

Madrigal

Pharmaceuticals,

Inc.*

1,215

286,983

MannKind

Corp.*

21,416

88,020

MeiraGTx

Holdings

plc*

2,679

16,529

Merrimack

Pharmaceuticals,

Inc.*

859

12,627

Mersana

Therapeutics,

Inc.*

9,104

49,526

MiMedx

Group,

Inc.*

9,478

77,340

Mineralys

Therapeutics,

Inc.*(a)

1,596

24,546

Mirum

Pharmaceuticals,

Inc.*

2,030

58,281

Monte

Rosa

Therapeutics,

Inc.*(a)

2,506

15,863

Morphic

Holding,

Inc.*

3,017

111,478

Mural

Oncology

plc*

1,364

7,216

Myriad

Genetics,

Inc.*

6,634

138,850

Nkarta,

Inc.*(a)

2,484

30,007

Novavax,

Inc.*(a)

7,821

38,636

Nurix

Therapeutics,

Inc.*

3,907

48,251

Nuvalent,

Inc.,

Class

a

A*

2,182

183,550

ULTRAPRO

RUSSELL2000

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

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INVESTMENTS

PROSHARES

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URTY

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Investments

Shares

Value

Common

Stocks

(continued)

Nuvectis

Pharma,

Inc.*(a)

612

$

6,040

Ocean

Biomedical,

Inc.*(a)

713

1,255

Olema

Pharmaceuticals,

Inc.*

2,205

27,342

Omega

Therapeutics,

Inc.*(a)

2,001

8,224

Organogenesis

Holdings,

Inc.,

Class

a

A*

5,767

20,588

ORIC

Pharmaceuticals,

Inc.*

3,203

40,806

Outlook

Therapeutics,

Inc.*(a)

12,915

5,641

Ovid

therapeutics,

Inc.*

4,894

16,640

PDS

Biotechnology

Corp.*(a)

2,296

15,131

PepGen,

Inc.*

826

14,001

PMV

Pharmaceuticals,

Inc.*

3,165

5,855

Poseida

Therapeutics,

Inc.,

Class

a

A*

5,579

22,093

Precigen,

Inc.*(a)

11,093

17,083

Prelude

Therapeutics,

Inc.*

1,222

5,255

Prime

Medicine,

Inc.*

3,249

28,039

ProKidney

Corp.,

Class

a

A*(a)

3,695

6,023

Protagonist

Therapeutics,

Inc.*

4,689

142,452

Protalix

BioTherapeutics,

Inc.*(a)

5,446

8,877

Prothena

Corp.

plc*

3,465

95,599

PTC

Therapeutics,

Inc.*

5,917

166,800

Rallybio

Corp.*(a)

2,510

5,836

RAPT

Therapeutics,

Inc.*(a)

2,424

20,774

Recursion

Pharmaceuticals,

Inc.,

Class

a

A*

11,205

150,819

REGENXBIO,

Inc.*

3,376

58,877

Relay

Therapeutics,

Inc.*

7,413

74,278

Reneo

Pharmaceuticals,

Inc.*(a)

1,064

1,756

Replimune

Group,

Inc.*

4,060

34,835

REVOLUTION

Medicines,

Inc.*

11,810

348,159

Rhythm

Pharmaceuticals,

Inc.*

4,218

183,146

Rigel

Pharmaceuticals,

Inc.*

14,051

21,357

Rocket

Pharmaceuticals,

Inc.*

5,152

150,954

Sage

Therapeutics,

Inc.*

4,341

93,245

Sagimet

Biosciences,

Inc.,

Class

a

A*(a)

455

2,789

Sana

Biotechnology,

Inc.*

7,880

79,115

Sangamo

Therapeutics,

Inc.*(a)

12,233

14,190

Savara,

Inc.*

7,419

37,466

Scholar

Rock

Holding

Corp.*

4,555

70,602

Seres

Therapeutics,

Inc.*(a)

7,987

9,105

SpringWorks

Therapeutics,

Inc.*

5,510

271,423

Stoke

Therapeutics,

Inc.*

2,267

17,547

Summit

Therapeutics,

Inc.*(a)

9,515

43,198

Sutro

Biopharma,

Inc.*

4,939

24,250

Syndax

Pharmaceuticals,

Inc.*

5,488

128,639

Tango

Therapeutics,

Inc.*(a)

3,667

40,814

Tenaya

Therapeutics,

Inc.*

3,814

22,693

TG

Therapeutics,

Inc.*

11,386

196,067

Travere

Therapeutics,

Inc.*

5,982

45,224

Turnstone

Biologics

Corp.*(a)

541

2,467

Twist

Bioscience

Corp.*

4,674

183,641

Tyra

Biosciences,

Inc.*(a)

1,148

22,948

UroGen

Pharma

Ltd.*(a)

2,232

40,913

Vanda

Pharmaceuticals,

Inc.*

4,638

20,732

Vaxcyte,

Inc.*

8,596

634,557

Vaxxinity,

Inc.,

Class

a

A*(a)

3,500

2,992

VBI

Vaccines,

Inc.*

1

—

(c)

Investments

Shares

Value

Common

Stocks

(continued)

Vera

Therapeutics,

Inc.,

Class

a

A*

2,776

$

130,694

Veracyte,

Inc.*

5,978

140,782

Vericel

Corp.*

3,909

178,563

Verve

Therapeutics,

Inc.*

4,288

73,110

Vigil

Neuroscience,

Inc.*(a)

1,319

4,590

Viking

Therapeutics,

Inc.*

7,896

608,387

Vir

Biotechnology,

Inc.*

6,876

77,286

Viridian

Therapeutics,

Inc.*

3,510

65,672

Vor

BioPharma,

Inc.*

3,093

7,114

Voyager

Therapeutics,

Inc.*

2,608

21,699

X4

Pharmaceuticals,

Inc.*

10,109

9,812

Xencor,

Inc.*

4,763

109,311

XOMA

Corp.*

600

14,586

Y-mAbs

Therapeutics,

Inc.*(a)

3,020

50,434

Zentalis

Pharmaceuticals,

Inc.*

4,782

71,300

Zura

Bio

Ltd.,

Class

a

A*

1,400

5,152

Zymeworks,

Inc.*

4,454

53,492

17,025,139

Broadline

Retail

—

0.0%(d)

Big

Lots,

Inc.

2,338

12,672

ContextLogic,

Inc.,

Class

a

A*

1,846

11,999

Dillard's,

Inc.,

Class

a

A

286

118,613

Qurate

Retail,

Inc.,

Class

a

B*

109

602

Savers

Value

Village,

Inc.*

2,127

43,050

186,936

Building

Products

—

1.2%

AAON,

Inc.

5,569

467,685

American

Woodmark

Corp.*

1,347

135,023

Apogee

Enterprises,

Inc.

1,817

103,951

AZZ,

Inc.

2,038

148,366

CSW

Industrials,

Inc.

1,267

291,904

Gibraltar

Industries,

Inc.*

2,513

194,632

Griffon

Corp.

3,442

245,759

Insteel

Industries,

Inc.

1,539

56,035

Janus

International

Group,

Inc.*

6,978

100,134

JELD-WEN

Holding,

Inc.*

6,994

127,291

Masonite

International

Corp.*

1,825

237,688

Masterbrand,

Inc.*

10,659

184,507

PGT

Innovations,

Inc.*

4,662

194,732

Quanex

Building

Products

Corp.

2,711

93,746

Resideo

Technologies,

Inc.*

12,036

268,764

Simpson

Manufacturing

Co.,

Inc.

3,527

736,014

UFP

Industries,

Inc.

4,936

565,814

Zurn

Elkay

Water

Solutions

Corp.

12,162

386,144

4,538,189

Capital

Markets

—

0.8%

AlTi

Global,

Inc.*(a)

1,875

10,988

Artisan

Partners

Asset

Management,

Inc.,

Class

a

A

5,049

217,461

AssetMark

Financial

Holdings,

Inc.*

1,806

63,842

B

Riley

Financial,

Inc.(a)

1,679

30,776

Bakkt

Holdings,

Inc.*(a)

5,847

3,391

BGC

Group,

Inc.,

Class

a

A

29,423

204,490

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRAPRO

RUSSELL2000

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

121

URTY

::

Investments

Shares

Value

Common

Stocks

(continued)

Brightsphere

Investment

Group,

Inc.

2,677

$

60,661

Cohen

&

Steers,

Inc.

2,137

157,176

Diamond

Hill

Investment

Group,

Inc.

225

32,553

Donnelley

Financial

Solutions,

Inc.*

2,031

131,121

Fidus

Investment

Corp.

1

13

Forge

Global

Holdings,

Inc.*

9,021

18,764

GCM

Grosvenor,

Inc.,

Class

a

A

3,405

28,840

Hamilton

Lane,

Inc.,

Class

a

A

3,004

345,009

MarketWise,

Inc.

2,646

4,789

Moelis

&

Co.,

Class

a

A

5,490

296,680

Open

Lending

Corp.*

8,176

59,358

P10,

Inc.,

Class

a

A

3,592

33,298

Patria

Investments

Ltd.,

Class

a

A

4,469

66,588

Perella

Weinberg

Partners,

Class

a

A

3,454

47,182

Piper

Sandler

Cos.

1,426

268,473

PJT

Partners,

Inc.,

Class

a

A

1,949

205,425

Silvercrest

Asset

Management

Group,

Inc.,

Class

a

A

776

13,014

StepStone

Group,

Inc.,

Class

a

A

4,432

153,923

StoneX

Group,

Inc.*

2,203

152,580

Value

Line,

Inc.

69

2,974

Victory

Capital

Holdings,

Inc.,

Class

a

A

2,203

84,661

Virtus

Investment

Partners,

Inc.

570

132,422

WisdomTree,

Inc.

11,338

91,384

2,917,836

Chemicals

—

1.1%

AdvanSix,

Inc.

2,141

59,905

American

Vanguard

Corp.

2,219

23,788

Arcadium

Lithium

plc*

84,077

461,583

Aspen

Aerogels,

Inc.*

4,195

72,070

Avient

Corp.

7,432

300,847

Balchem

Corp.

2,628

413,095

Cabot

Corp.

4,554

386,862

Core

Molding

Technologies,

Inc.*

600

11,022

Danimer

Scientific,

Inc.,

Class

a

A*(a)

7,206

9,656

Ecovyst,

Inc.*

7,604

73,379

Hawkins,

Inc.

1,589

111,627

HB

Fuller

Co.

4,446

353,590

Ingevity

Corp.*

3,005

137,268

Innospec,

Inc.

2,050

254,754

Intrepid

Potash,

Inc.*

874

18,424

Koppers

Holdings,

Inc.

1,656

93,763

Kronos

Worldwide,

Inc.

1,816

16,507

LSB

Industries,

Inc.*

4,410

32,458

Mativ

Holdings,

Inc.

4,480

77,818

Minerals

Technologies,

Inc.

2,675

193,563

Origin

Materials,

Inc.*(a)

9,598

5,697

Orion

SA

4,551

102,580

Perimeter

Solutions

SA*

12,539

76,237

PureCycle

Technologies,

Inc.*(a)

9,541

55,242

Quaker

Chemical

Corp.

1,141

228,770

Rayonier

Advanced

Materials,

Inc.*

5,237

17,753

Investments

Shares

Value

Common

Stocks

(continued)

Sensient

Technologies

Corp.

3,461

$

231,472

Stepan

Co.

1,750

156,100

Trinseo

plc

2,875

12,938

Tronox

Holdings

plc

9,618

141,385

Valhi,

Inc.(a)

198

2,699

4,132,852

Commercial

Services

&

Supplies

—

0.9%

ABM

Industries,

Inc.

5,443

224,850

ACCO

Brands

Corp.

7,587

42,335

ACV

Auctions,

Inc.,

Class

a

A*

10,440

185,310

Aris

Water

Solutions,

Inc.,

Class

a

A

2,454

29,546

BrightView

Holdings,

Inc.*

3,400

29,614

Brink's

Co.

(The)

3,793

314,174

Casella

Waste

Systems,

Inc.,

Class

a

A*

4,639

417,974

CECO

Environmental

Corp.*

2,438

55,221

Cimpress

plc*

1,479

144,957

CompX

International,

Inc.

126

2,937

CoreCivic,

Inc.*

9,344

142,309

Deluxe

Corp.

3,576

69,410

Ennis,

Inc.

2,095

42,570

Enviri

Corp.*

6,483

50,956

GEO

Group,

Inc.

(The)*

9,898

121,448

Healthcare

Services

Group,

Inc.*

6,115

78,027

HNI

Corp.

3,796

170,099

Interface,

Inc.,

Class

a

A

4,711

74,057

LanzaTech

Global,

Inc.*(a)

1,695

5,458

Li-Cycle

Holdings

Corp.*(a)

11,452

4,123

Liquidity

Services,

Inc.*

1,894

33,959

Matthews

International

Corp.,

Class

a

A

2,441

70,643

MillerKnoll,

Inc.

6,063

185,225

Montrose

Environmental

Group,

Inc.*

2,292

94,843

NL

Industries,

Inc.

690

3,519

OPENLANE,

Inc.*

8,870

135,445

Performant

Financial

Corp.*

5,526

16,081

Pitney

Bowes,

Inc.

14,416

58,096

Quad/Graphics,

Inc.

2,515

15,065

SP

Plus

Corp.*

1,608

82,667

Steelcase,

Inc.,

Class

a

A

7,613

104,603

UniFirst

Corp.

1,232

207,863

Viad

Corp.*

1,672

62,249

VSE

Corp.

1,075

79,658

3,355,291

Communications

Equipment

—

0.3%

ADTRAN

Holdings,

Inc.

6,410

36,473

Aviat

Networks,

Inc.*

937

33,254

Calix,

Inc.*

4,846

168,980

Cambium

Networks

Corp.*

998

4,242

Clearfield,

Inc.*(a)

1,075

32,433

CommScope

Holding

Co.,

Inc.*

17,201

20,039

Comtech

Telecommunications

Corp.*

2,240

15,143

Digi

International,

Inc.*

2,888

85,369

DZS,

Inc.*(a)

1,787

2,627

Extreme

Networks,

Inc.*

10,369

131,064

ULTRAPRO

RUSSELL2000

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

122

URTY

::

Investments

Shares

Value

Common

Stocks

(continued)

Harmonic,

Inc.*

9,047

$

118,787

Infinera

Corp.*(a)

16,387

82,263

KVH

Industries,

Inc.*

1,539

7,310

NETGEAR,

Inc.*

2,375

35,601

NetScout

Systems,

Inc.*

5,699

123,383

Ribbon

Communications,

Inc.*

7,294

21,809

Viavi

Solutions,

Inc.*

18,180

173,619

1,092,396

Construction

&

Engineering

—

1.1%

Ameresco,

Inc.,

Class

a

A*

2,642

55,376

API

Group

Corp.*

17,191

602,545

Arcosa,

Inc.

3,987

330,921

Argan,

Inc.

1,040

48,734

Bowman

Consulting

Group

Ltd.,

Class

a

A*

885

28,824

Comfort

Systems

USA,

Inc.

2,908

889,063

Concrete

Pumping

Holdings,

Inc.*

2,104

17,232

Construction

Partners,

Inc.,

Class

a

A*

3,302

158,760

Dycom

Industries,

Inc.*

2,355

297,884

Fluor

Corp.*

11,719

431,259

Granite

Construction,

Inc.

3,624

186,745

Great

Lakes

Dredge

&

Dock

Corp.*

5,386

48,151

IES

Holdings,

Inc.*

672

73,866

INNOVATE

Corp.*(a)

4,457

3,496

Limbach

Holdings,

Inc.*

754

37,127

MYR

Group,

Inc.*

1,350

219,321

Northwest

Pipe

Co.*

809

24,132

Primoris

Services

Corp.

4,364

172,422

Southland

Holdings,

Inc.*(a)

333

1,519

Sterling

Infrastructure,

Inc.*

2,461

262,441

Tutor

Perini

Corp.*

3,488

39,519

3,929,337

Construction

Materials

—

0.2%

Knife

River

Corp.*

4,651

344,593

Summit

Materials,

Inc.,

Class

a

A*

9,816

419,241

United

States

Lime

&

Minerals,

Inc.

168

42,837

806,671

Consumer

Finance

—

0.4%

Atlanticus

Holdings

Corp.*

376

12,464

Bread

Financial

Holdings,

Inc.

4,084

156,336

Consumer

Portfolio

Services,

Inc.*

701

6,190

Encore

Capital

Group,

Inc.*

1,911

91,728

Enova

International,

Inc.*

2,393

151,357

FirstCash

Holdings,

Inc.

3,098

354,721

Green

Dot

Corp.,

Class

a

A*

3,815

31,321

LendingClub

Corp.*

8,922

72,357

LendingTree,

Inc.*

875

34,624

Navient

Corp.

7,068

114,926

Nelnet,

Inc.,

Class

a

A

1,059

90,936

NerdWallet,

Inc.,

Class

a

A*

2,776

46,831

OppFi,

Inc.*(a)

883

3,108

PRA

Group,

Inc.*

3,174

81,128

Investments

Shares

Value

Common

Stocks

(continued)

PROG

Holdings,

Inc.*

3,640

$

112,367

Regional

Management

Corp.

661

15,467

Upstart

Holdings,

Inc.*(a)

6,013

154,835

World

Acceptance

Corp.*

334

40,000

1,570,696

Consumer

Staples

Distribution

&

Retail

—

0.4%

Andersons,

Inc.

(The)

2,644

146,160

Chefs'

Warehouse,

Inc.

(The)*

2,893

109,963

HF

Foods

Group,

Inc.*

3,307

12,434

Ingles

Markets,

Inc.,

Class

a

A

1,155

88,946

Natural

Grocers

by

Vitamin

Cottage,

Inc.

767

12,709

PriceSmart,

Inc.

2,068

174,001

SpartanNash

Co.

2,837

59,776

Sprouts

Farmers

Market,

Inc.*

8,372

522,748

United

Natural

Foods,

Inc.*

4,801

74,944

Village

Super

Market,

Inc.,

Class

a

A

725

19,829

Weis

Markets,

Inc.

1,355

87,994

1,309,504

Containers

&

Packaging

—

0.2%

Greif,

Inc.,

Class

a

A

1,999

128,856

Greif,

Inc.,

Class

a

B

425

27,208

Myers

Industries,

Inc.

3,005

57,786

O-I

Glass,

Inc.*

12,766

216,001

Pactiv

Evergreen,

Inc.

3,289

48,513

Ranpak

Holdings

Corp.,

Class

a

A*

3,561

16,915

TriMas

Corp.

3,407

80,064

575,343

Distributors

—

0.0%(d)

Weyco

Group,

Inc.

488

15,733

Diversified

Consumer

Services

—

0.6%

2U,

Inc.*(a)

6,584

2,967

Adtalem

Global

Education,

Inc.*

3,266

161,667

Carriage

Services,

Inc.,

Class

a

A

1,102

27,352

Chegg,

Inc.*

9,355

83,634

Coursera,

Inc.*

10,696

171,885

Duolingo,

Inc.,

Class

a

A*

2,403

574,317

European

Wax

Center,

Inc.,

Class

a

A*

2,805

39,775

Frontdoor,

Inc.*

6,662

208,920

Graham

Holdings

Co.,

Class

a

B

294

206,485

Laureate

Education,

Inc.

10,765

144,359

Lincoln

Educational

Services

Corp.*

1,944

19,556

Nerdy,

Inc.*

5,136

14,894

OneSpaWorld

Holdings

Ltd.*

6,853

89,363

Perdoceo

Education

Corp.

5,368

95,604

Strategic

Education,

Inc.

1,858

205,848

Stride,

Inc.*

3,487

208,348

Udemy,

Inc.*

7,223

81,620

Universal

Technical

Institute,

Inc.*

2,693

40,503

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRAPRO

RUSSELL2000

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

123

URTY

::

Investments

Shares

Value

Common

Stocks

(continued)

WW

International,

Inc.*

4,479

$

13,974

2,391,071

Diversified

REITs

—

0.3%

Alexander

&

Baldwin,

Inc.,

REIT

5,960

96,910

Alpine

Income

Property

Trust,

Inc.,

REIT

1,041

16,250

American

Assets

Trust,

Inc.,

REIT

4,009

86,474

Armada

Hoffler

Properties,

Inc.,

REIT

5,537

56,367

Broadstone

Net

Lease,

Inc.,

REIT

15,448

230,330

CTO

Realty

Growth,

Inc.,

REIT

1,846

31,474

Empire

State

Realty

Trust,

Inc.,

Class

a

A,

REIT

10,854

108,214

Essential

Properties

Realty

Trust,

Inc.,

REIT

12,817

306,198

Gladstone

Commercial

Corp.,

REIT

3,266

40,433

Global

Net

Lease,

Inc.,

REIT

15,994

115,317

NexPoint

Diversified

Real

Estate

Trust,

REIT

2,520

15,951

One

Liberty

Properties,

Inc.,

REIT

1,334

27,000

1,130,918

Diversified

Telecommunication

Services

—

0.2%

Anterix,

Inc.*

1,057

41,963

AST

SpaceMobile,

Inc.,

Class

a

A*(a)

6,602

20,928

ATN

International,

Inc.

894

29,985

Bandwidth,

Inc.,

Class

a

A*

1,923

39,498

Cogent

Communications

Holdings,

Inc.

3,598

291,114

Consolidated

Communications

Holdings,

Inc.*

6,299

27,149

Globalstar,

Inc.*

57,548

89,775

IDT

Corp.,

Class

a

B*

1,259

46,847

Liberty

Latin

America

Ltd.,

Class

a

A*

2,892

18,596

Liberty

Latin

America

Ltd.,

Class

a

C*

11,298

73,663

Lumen

Technologies,

Inc.*

82,808

134,149

Ooma,

Inc.*

1,982

20,216

Shenandoah

Telecommunications

Co.

3,991

74,472

908,355

Electric

Utilities

—

0.4%

ALLETE,

Inc.

4,750

269,040

Genie

Energy

Ltd.,

Class

a

B

1,625

29,640

MGE

Energy,

Inc.

2,999

189,507

Otter

Tail

Corp.

3,394

307,021

PNM

Resources,

Inc.

7,046

257,250

Portland

General

Electric

Co.

8,355

335,620

1,388,078

Electrical

Equipment

—

0.8%

Allient,

Inc.

1,062

30,182

Amprius

Technologies,

Inc.*

449

1,459

Investments

Shares

Value

Common

Stocks

(continued)

Array

Technologies,

Inc.*

12,447

$

169,777

Atkore,

Inc.

3,113

527,342

Babcock

&

Wilcox

Enterprises,

Inc.*

4,828

6,180

Blink

Charging

Co.*(a)

4,462

14,189

Bloom

Energy

Corp.,

Class

a

A*(a)

15,828

138,812

Dragonfly

Energy

Holdings

Corp.*(a)

2,401

1,575

Encore

Wire

Corp.

1,234

297,394

Energy

Vault

Holdings,

Inc.*(a)

8,133

13,663

EnerSys

3,392

311,657

Enovix

Corp.*(a)

11,386

111,013

Eos

Energy

Enterprises,

Inc.*(a)

8,837

8,415

ESS

Tech,

Inc.*(a)

7,491

6,507

Fluence

Energy,

Inc.*(a)

4,816

73,637

FTC

Solar,

Inc.*(a)

5,559

2,846

FuelCell

Energy,

Inc.*(a)

37,361

44,460

GrafTech

International

Ltd.

15,922

28,023

LSI

Industries,

Inc.

2,301

33,203

NEXTracker,

Inc.,

Class

a

A*

10,581

595,075

NuScale

Power

Corp.,

Class

a

A*(a)

4,458

13,820

Powell

Industries,

Inc.

752

139,300

Preformed

Line

Products

Co.

204

28,046

SES

AI

Corp.*(a)

10,254

18,150

Shoals

Technologies

Group,

Inc.,

Class

a

A*

14,090

180,775

SKYX

Platforms

Corp.*(a)

5,146

6,638

Stem,

Inc.*(a)

11,698

31,351

SunPower

Corp.*(a)

7,172

22,305

Thermon

Group

Holdings,

Inc.*

2,746

74,938

TPI

Composites,

Inc.*(a)

3,400

9,486

Vicor

Corp.*

1,823

67,889

3,008,107

Electronic

Equipment,

Instruments

&

Components

—

1.6%

908

Devices,

Inc.*

1,801

13,237

Advanced

Energy

Industries,

Inc.

3,092

312,910

Aeva

Technologies,

Inc.*(a)

6,613

6,679

Akoustis

Technologies,

Inc.*(a)

5,742

3,570

Arlo

Technologies,

Inc.*

7,352

76,534

Badger

Meter,

Inc.

2,417

383,554

Bel

Fuse,

Inc.,

Class

a

B

859

44,642

Belden,

Inc.

3,493

297,534

Benchmark

Electronics,

Inc.

2,907

89,274

Climb

Global

Solutions,

Inc.

343

23,314

CTS

Corp.

2,545

113,405

Daktronics,

Inc.*

3,097

26,882

ePlus,

Inc.*

2,184

179,940

Evolv

Technologies

Holdings,

Inc.*(a)

9,373

44,709

Fabrinet*

3,025

652,099

FARO

Technologies,

Inc.*

1,558

34,884

Insight

Enterprises,

Inc.*

2,358

443,304

Iteris,

Inc.*

3,508

18,312

Itron,

Inc.*

3,743

346,901

Kimball

Electronics,

Inc.*

1,968

44,300

Knowles

Corp.*

7,387

120,704

Lightwave

Logic,

Inc.*(a)

9,622

40,509

ULTRAPRO

RUSSELL2000

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

124

URTY

::

Investments

Shares

Value

Common

Stocks

(continued)

Luna

Innovations,

Inc.*

2,676

$

18,143

Methode

Electronics,

Inc.

2,801

59,661

MicroVision,

Inc.*(a)

15,496

36,571

Mirion

Technologies,

Inc.,

Class

a

A*

16,461

160,989

Napco

Security

Technologies,

Inc.

2,727

122,797

nLight,

Inc.*

3,679

48,673

Novanta,

Inc.*

2,942

508,789

OSI

Systems,

Inc.*

1,324

173,682

PAR

Technology

Corp.*

2,189

95,922

PC

Connection,

Inc.

940

62,397

Plexus

Corp.*

2,257

213,061

Presto

Automation,

Inc.*

302

95

Richardson

Electronics

Ltd.

994

8,737

Rogers

Corp.*

1,424

159,588

Sanmina

Corp.*

4,646

293,627

ScanSource,

Inc.*

2,030

87,757

SmartRent,

Inc.,

Class

a

A*(a)

15,134

43,889

TTM

Technologies,

Inc.*

8,512

126,403

Vishay

Intertechnology,

Inc.

10,597

230,485

Vishay

Precision

Group,

Inc.*

1,018

35,172

Vuzix

Corp.*(a)

4,847

8,191

5,811,826

Energy

Equipment

&

Services

—

1.3%

Archrock,

Inc.

11,424

208,717

Atlas

Energy

Solutions,

Inc.,

Class

a

A(a)

1,461

27,555

Borr

Drilling

Ltd.

18,058

108,709

Bristow

Group,

Inc.,

Class

a

A*

1,939

52,256

Cactus,

Inc.,

Class

a

A

5,310

243,729

ChampionX

Corp.

16,089

499,724

Core

Laboratories,

Inc.

3,852

57,664

Diamond

Offshore

Drilling,

Inc.*

8,358

92,690

DMC

Global,

Inc.*

1,604

26,755

Dril-Quip,

Inc.*

2,798

63,235

Expro

Group

Holdings

NV*

7,358

131,635

Forum

Energy

Technologies,

Inc.*

795

15,908

Helix

Energy

Solutions

Group,

Inc.*

11,823

106,407

Helmerich

&

Payne,

Inc.

8,002

307,197

KLX

Energy

Services

Holdings,

Inc.*

1,039

8,437

Kodiak

Gas

Services,

Inc.

1,302

33,201

Liberty

Energy,

Inc.,

Class

a

A

13,500

288,630

Mammoth

Energy

Services,

Inc.*(a)

1,915

6,971

Nabors

Industries

Ltd.*

752

58,934

Newpark

Resources,

Inc.*

6,273

40,335

Noble

Corp.

plc

9,256

386,993

Oceaneering

International,

Inc.*

8,257

163,158

Oil

States

International,

Inc.*

5,181

27,926

Patterson-UTI

Energy,

Inc.

29,055

336,166

ProFrac

Holding

Corp.,

Class

a

A*(a)

2,133

17,448

ProPetro

Holding

Corp.*

7,935

58,719

Ranger

Energy

Services,

Inc.,

Class

a

A

1,208

12,672

RPC,

Inc.

6,987

51,634

Investments

Shares

Value

Common

Stocks

(continued)

SEACOR

Marine

Holdings,

Inc.*

1,979

$

20,780

Seadrill

Ltd.*

4,152

175,214

Select

Water

Solutions,

Inc.,

Class

a

A

6,560

56,022

Solaris

Oilfield

Infrastructure,

Inc.,

Class

a

A

2,402

20,345

TETRA

Technologies,

Inc.*

10,294

40,147

Tidewater,

Inc.*

3,815

267,164

US

Silica

Holdings,

Inc.*

6,194

71,231

Valaris

Ltd.*

4,965

313,043

Weatherford

International

plc*

5,852

600,474

4,997,825

Entertainment

—

0.2%

Atlanta

Braves

Holdings,

Inc.,

Class

a

A*

826

34,650

Atlanta

Braves

Holdings,

Inc.,

Class

a

C*

3,742

146,387

Cinemark

Holdings,

Inc.*

9,031

157,230

Eventbrite,

Inc.,

Class

a

A*

6,353

35,577

IMAX

Corp.*

3,691

63,227

Lions

Gate

Entertainment

Corp.,

Class

a

A*

4,786

46,472

Lions

Gate

Entertainment

Corp.,

Class

a

B*

9,899

89,883

Loop

Media,

Inc.*(a)

3,152

1,576

Madison

Square

Garden

Entertainment

Corp.,

Class

a

A*

3,265

125,670

Marcus

Corp.

(The)

1,991

29,208

Playstudios,

Inc.*

7,025

16,649

Reservoir

Media,

Inc.*

1,628

11,754

Sphere

Entertainment

Co.*

2,186

94,654

Vivid

Seats,

Inc.,

Class

a

A*

2,006

12,076

865,013

Equity

Real

Estate

Investment

Trusts

(REITs)

—

0.0%(d)

Hudson

Pacific

Properties,

Inc.

11,349

71,953

Financial

Services

—

1.4%

Acacia

Research

Corp.*

3,120

12,605

Alerus

Financial

Corp.

1,472

32,104

A-Mark

Precious

Metals,

Inc.

1,561

40,102

AvidXchange

Holdings,

Inc.*

12,272

163,095

Banco

Latinoamericano

de

Comercio

Exterior

SA,

Class

a

E

2,260

63,212

Cannae

Holdings,

Inc.*

5,641

123,087

Cantaloupe,

Inc.*

4,710

30,615

Cass

Information

Systems,

Inc.

1,125

54,360

Compass

Diversified

Holdings

5,189

119,347

Enact

Holdings,

Inc.

2,433

67,443

Essent

Group

Ltd.

8,613

461,398

EVERTEC,

Inc.

5,370

194,018

Federal

Agricultural

Mortgage

Corp.,

Class

a

C

748

133,795

Finance

of

America

Cos.,

Inc.,

Class

a

A*

4,386

3,791

Flywire

Corp.*

8,731

247,873

I3

Verticals,

Inc.,

Class

a

A*

1,850

39,423

International

Money

Express,

Inc.*

2,629

51,791

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRAPRO

RUSSELL2000

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

125

URTY

::

Investments

Shares

Value

Common

Stocks

(continued)

Jackson

Financial,

Inc.,

Class

a

A

6,808

$

374,780

Marqeta,

Inc.,

Class

a

A*

39,452

257,622

Merchants

Bancorp

1,303

55,847

Mr

Cooper

Group,

Inc.*

5,299

377,713

NewtekOne,

Inc.

1,915

22,099

NMI

Holdings,

Inc.,

Class

a

A*

6,645

199,882

Ocwen

Financial

Corp.*

528

13,770

Pagseguro

Digital

Ltd.,

Class

a

A*

16,314

227,091

Payoneer

Global,

Inc.*

21,771

105,807

Paysafe

Ltd.*

2,666

38,389

Paysign,

Inc.*

2,682

8,207

PennyMac

Financial

Services,

Inc.

2,098

178,183

Priority

Technology

Holdings,

Inc.*

1,449

4,796

Radian

Group,

Inc.

12,933

376,868

Remitly

Global,

Inc.*

10,936

225,500

Repay

Holdings

Corp.,

Class

a

A*

6,814

59,214

Security

National

Financial

Corp.,

Class

a

A*

1,035

8,922

StoneCo

Ltd.,

Class

a

A*

23,916

411,594

SWK

Holdings

Corp.*

304

5,034

Velocity

Financial,

Inc.*

720

11,772

Walker

&

Dunlop,

Inc.

2,613

249,228

Waterstone

Financial,

Inc.

1,444

18,267

5,068,644

Food

Products

—

0.5%

Alico,

Inc.

586

16,238

B&G

Foods,

Inc.(a)

5,842

67,475

Benson

Hill,

Inc.*(a)

14,225

3,521

Beyond

Meat,

Inc.*(a)

4,872

52,082

BRC,

Inc.,

Class

a

A*(a)

3,213

13,270

Calavo

Growers,

Inc.

1,422

41,039

Cal-Maine

Foods,

Inc.

3,374

193,971

Dole

plc

5,875

69,384

Forafric

Global

plc*(a)

437

4,562

Fresh

Del

Monte

Produce,

Inc.

2,798

66,956

Hain

Celestial

Group,

Inc.

(The)*(a)

7,347

73,470

J

&

J

Snack

Foods

Corp.

1,235

179,174

John

B

Sanfilippo

&

Son,

Inc.

737

75,447

Lancaster

Colony

Corp.

1,606

332,313

Limoneira

Co.(a)

1,436

26,508

Mission

Produce,

Inc.*

3,982

42,010

Seneca

Foods

Corp.,

Class

a

A*

431

21,834

Simply

Good

Foods

Co.

(The)*

7,460

264,681

Sovos

Brands,

Inc.*

4,540

103,467

SunOpta,

Inc.*

7,698

54,117

Tootsie

Roll

Industries,

Inc.

1

18

TreeHouse

Foods,

Inc.*

4,231

151,427

Utz

Brands,

Inc.

5,917

104,672

Vital

Farms,

Inc.*

2,509

45,087

Westrock

Coffee

Co.*(a)

2,332

23,600

2,026,323

Gas

Utilities

—

0.5%

Brookfield

Infrastructure

Corp.,

Class

a

A(a)

9,850

326,725

Chesapeake

Utilities

Corp.

1,747

178,246

Investments

Shares

Value

Common

Stocks

(continued)

New

Jersey

Resources

Corp.

7,989

$

332,422

Northwest

Natural

Holding

Co.

2,950

108,383

ONE

Gas,

Inc.

4,537

270,405

RGC

Resources,

Inc.

657

12,325

Southwest

Gas

Holdings,

Inc.

5,077

345,998

Spire,

Inc.

4,235

251,220

1,825,724

Ground

Transportation

—

0.3%

ArcBest

Corp.

1,955

279,291

Covenant

Logistics

Group,

Inc.,

Class

a

A

684

33,297

Daseke,

Inc.*

3,375

27,844

FTAI

Infrastructure,

Inc.

8,128

37,226

Heartland

Express,

Inc.

3,849

49,190

Marten

Transport

Ltd.

4,773

89,971

PAM

Transportation

Services,

Inc.*

508

9,408

RXO,

Inc.*

9,550

205,516

Universal

Logistics

Holdings,

Inc.

556

18,810

Werner

Enterprises,

Inc.

5,203

208,849

959,402

Health

Care

Equipment

&

Supplies

—

1.5%

Accuray,

Inc.*(a)

7,746

20,140

Alphatec

Holdings,

Inc.*

7,574

101,719

AngioDynamics,

Inc.*

3,146

17,272

Artivion,

Inc.*

3,234

62,416

AtriCure,

Inc.*

3,824

133,725

Atrion

Corp.

114

41,951

Avanos

Medical,

Inc.*

3,799

70,547

Axogen,

Inc.*

3,338

35,249

Axonics,

Inc.*

4,087

277,671

Beyond

Air,

Inc.*(a)

2,219

4,549

Butterfly

Network,

Inc.*(a)

11,635

13,846

Cerus

Corp.*

14,569

31,760

ClearPoint

Neuro,

Inc.*

1,882

12,026

CONMED

Corp.

2,518

202,246

Cutera,

Inc.*(a)

1,505

3,371

CVRx,

Inc.*

914

17,942

Embecta

Corp.

4,746

67,773

Glaukos

Corp.*

3,894

344,969

Haemonetics

Corp.*

4,120

300,678

Inari

Medical,

Inc.*

4,392

202,559

Inmode

Ltd.*

6,361

139,942

Inogen,

Inc.*

1,914

12,728

Integer

Holdings

Corp.*

2,727

300,761

iRadimed

Corp.

600

25,182

iRhythm

Technologies,

Inc.*

2,520

298,998

KORU

Medical

Systems,

Inc.*

2,820

5,978

Lantheus

Holdings,

Inc.*

5,588

365,343

LeMaitre

Vascular,

Inc.

1,623

113,610

LivaNova

plc*

4,456

244,233

Merit

Medical

Systems,

Inc.*

4,672

356,006

Neogen

Corp.*

17,900

307,701

Nevro

Corp.*

2,915

42,442

Omnicell,

Inc.*

3,692

96,878

OraSure

Technologies,

Inc.*

5,912

42,537

ULTRAPRO

RUSSELL2000

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

126

URTY

::

Investments

Shares

Value

Common

Stocks

(continued)

Orchestra

BioMed

Holdings,

Inc.*(a)

1,198

$

7,715

Orthofix

Medical,

Inc.*

2,888

37,717

OrthoPediatrics

Corp.*

1,302

35,753

Outset

Medical,

Inc.*

4,104

12,928

Paragon

28,

Inc.*

3,606

45,003

PROCEPT

BioRobotics

Corp.*

3,313

160,150

Pulmonx

Corp.*

3,012

27,771

Pulse

Biosciences,

Inc.*(a)

1,327

13,111

RxSight,

Inc.*

2,334

127,366

Sanara

Medtech,

Inc.*(a)

317

12,059

Semler

Scientific,

Inc.*

377

17,783

SI-BONE,

Inc.*

3,266

56,665

Sight

Sciences,

Inc.*

1,775

7,135

Silk

Road

Medical,

Inc.*

3,154

56,740

STAAR

Surgical

Co.*

3,991

124,679

Surmodics,

Inc.*

1,132

36,111

Tactile

Systems

Technology,

Inc.*

1,912

29,158

Tela

Bio,

Inc.*

1,329

8,984

TransMedics

Group,

Inc.*

2,606

212,650

Treace

Medical

Concepts,

Inc.*

3,713

49,903

UFP

Technologies,

Inc.*

583

121,445

Utah

Medical

Products,

Inc.

281

19,721

Varex

Imaging

Corp.*

3,186

54,799

Vicarious

Surgical,

Inc.,

Class

a

A*

8,220

3,489

Zimvie,

Inc.*

2,121

35,951

Zynex,

Inc.*(a)

1,498

20,313

5,649,847

Health

Care

Providers

&

Services

—

1.4%

23andMe

Holding

Co.,

Class

a

A*

24,993

14,246

Accolade,

Inc.*

5,570

57,093

AdaptHealth

Corp.,

Class

a

A*

7,859

80,398

Addus

HomeCare

Corp.*

1,286

118,672

Agiliti,

Inc.*

2,434

24,024

AirSculpt

Technologies,

Inc.*(a)

1,001

6,316

Alignment

Healthcare,

Inc.*

6,989

41,934

AMN

Healthcare

Services,

Inc.*

3,131

176,181

Astrana

Health,

Inc.*

3,518

158,451

Aveanna

Healthcare

Holdings,

Inc.*

4,159

9,857

Brookdale

Senior

Living,

Inc.*

15,313

87,590

CareMax,

Inc.*

206

1,584

Castle

Biosciences,

Inc.*

2,039

36,824

Community

Health

Systems,

Inc.*

10,324

28,804

CorVel

Corp.*

716

174,704

Cross

Country

Healthcare,

Inc.*

2,826

51,631

DocGo,

Inc.*

6,387

25,995

Enhabit,

Inc.*

4,136

37,224

Ensign

Group,

Inc.

(The)

4,481

559,767

Fulgent

Genetics,

Inc.*

1,682

37,946

Guardant

Health,

Inc.*

9,276

176,244

HealthEquity,

Inc.*

6,905

570,422

Hims

&

Hers

Health,

Inc.*

10,039

130,909

InfuSystem

Holdings,

Inc.*

1,492

13,801

Innovage

Holding

Corp.*

1,554

7,521

Joint

Corp.

(The)*

1,168

11,517

Investments

Shares

Value

Common

Stocks

(continued)

LifeStance

Health

Group,

Inc.*(a)

8,718

$

72,795

ModivCare,

Inc.*

1,046

29,330

Nano-X

Imaging

Ltd.*(a)

3,917

43,714

National

HealthCare

Corp.

1,027

101,324

National

Research

Corp.

1,183

47,699

NeoGenomics,

Inc.*

10,464

163,238

OPKO

Health,

Inc.*(a)

33,120

33,120

Option

Care

Health,

Inc.*

13,771

444,390

Owens

&

Minor,

Inc.*

6,099

148,389

P3

Health

Partners,

Inc.*(a)

3,349

3,483

Patterson

Cos.,

Inc.

7,057

191,174

Pediatrix

Medical

Group,

Inc.*

6,913

63,254

Pennant

Group,

Inc.

(The)*

2,342

43,678

PetIQ,

Inc.,

Class

a

A*

2,244

40,863

Privia

Health

Group,

Inc.*

9,250

206,460

Progyny,

Inc.*

6,527

238,366

Quipt

Home

Medical

Corp.*

3,366

14,440

RadNet,

Inc.*

4,948

187,331

Select

Medical

Holdings

Corp.

8,538

232,490

Surgery

Partners,

Inc.*

6,210

192,696

US

Physical

Therapy,

Inc.

1,223

129,968

Viemed

Healthcare,

Inc.*

2,805

23,730

5,291,587

Health

Care

REITs

—

0.3%

CareTrust

REIT,

Inc.,

REIT

8,232

185,714

Community

Healthcare

Trust,

Inc.,

REIT

2,193

59,518

Diversified

Healthcare

Trust,

REIT

19,630

64,386

Global

Medical

REIT,

Inc.,

REIT

5,011

44,848

LTC

Properties,

Inc.,

REIT

3,368

105,957

National

Health

Investors,

Inc.,

REIT

3,431

197,180

Sabra

Health

Care

REIT,

Inc.,

REIT

19,023

264,039

Universal

Health

Realty

Income

Trust,

REIT

1,057

40,991

962,633

Health

Care

Technology

—

0.2%

American

Well

Corp.,

Class

a

A*

20,448

22,084

Computer

Programs

and

Systems,

Inc.*

1,173

10,393

Definitive

Healthcare

Corp.,

Class

a

A*

3,811

36,281

Evolent

Health,

Inc.,

Class

a

A*

9,047

306,784

Health

Catalyst,

Inc.*

4,642

38,621

HealthStream,

Inc.

1,980

54,014

Multiplan

Corp.*

31,602

35,394

OptimizeRx

Corp.*

1,328

21,022

Phreesia,

Inc.*

4,352

107,712

Schrodinger,

Inc.*

4,475

113,934

Sharecare,

Inc.*

25,322

23,803

Simulations

Plus,

Inc.

1,302

54,033

824,075

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRAPRO

RUSSELL2000

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

127

URTY

::

Investments

Shares

Value

Common

Stocks

(continued)

Hotel

&

Resort

REITs

—

0.5%

Apple

Hospitality

REIT,

Inc.,

REIT

17,719

$

285,099

Braemar

Hotels

&

Resorts,

Inc.,

REIT

5,387

12,282

Chatham

Lodging

Trust,

REIT

3,961

40,402

DiamondRock

Hospitality

Co.,

REIT

17,279

162,422

Pebblebrook

Hotel

Trust,

REIT

9,771

154,773

RLJ

Lodging

Trust,

REIT

12,733

151,141

Ryman

Hospitality

Properties,

Inc.,

REIT

4,796

568,230

Service

Properties

Trust,

REIT

13,554

92,167

Summit

Hotel

Properties,

Inc.,

REIT

8,612

55,289

Sunstone

Hotel

Investors,

Inc.,

REIT

17,119

191,562

Xenia

Hotels

&

Resorts,

Inc.,

REIT

8,824

135,360

1,848,727

Hotels,

Restaurants

&

Leisure

—

1.3%

Accel

Entertainment,

Inc.,

Class

a

A*

4,381

49,637

Bally's

Corp.*

2,421

27,212

Biglari

Holdings,

Inc.,

Class

a

B*

59

10,219

BJ's

Restaurants,

Inc.*

1,868

65,417

Bloomin'

Brands,

Inc.

7,201

195,723

Bowlero

Corp.,

Class

a

A(a)

1,385

17,243

Brinker

International,

Inc.*

3,605

167,056

Carrols

Restaurant

Group,

Inc.

3,017

28,571

Century

Casinos,

Inc.*

2,258

6,571

Cheesecake

Factory,

Inc.

(The)

3,987

141,060

Chuy's

Holdings,

Inc.*

1,484

50,204

Cracker

Barrel

Old

Country

Store,

Inc.(a)

1,815

120,026

Dave

&

Buster's

Entertainment,

Inc.*

2,971

183,430

Denny's

Corp.*

4,214

38,895

Dine

Brands

Global,

Inc.

1,271

61,656

El

Pollo

Loco

Holdings,

Inc.*

2,284

20,693

Everi

Holdings,

Inc.*

6,935

82,249

First

Watch

Restaurant

Group,

Inc.*

1,825

45,716

Full

House

Resorts,

Inc.*

2,700

13,851

Global

Business

Travel

Group

I*(a)

2,650

15,900

Golden

Entertainment,

Inc.

1,662

61,594

Hilton

Grand

Vacations,

Inc.*

6,606

296,477

Inspired

Entertainment,

Inc.*

1,782

17,642

International

Game

Technology

plc

8,923

242,438

Jack

in

the

Box,

Inc.

1,665

121,545

Krispy

Kreme,

Inc.(a)

7,192

93,065

Kura

Sushi

USA,

Inc.,

Class

a

A*

479

45,519

Life

Time

Group

Holdings,

Inc.*

3,669

50,412

Light

&

Wonder,

Inc.*

7,506

754,428

Lindblad

Expeditions

Holdings,

Inc.*

2,871

26,614

Monarch

Casino

&

Resort,

Inc.

1,107

77,877

Investments

Shares

Value

Common

Stocks

(continued)

Mondee

Holdings,

Inc.,

Class

a

A*(a)

3,727

$

8,386

Nathan's

Famous,

Inc.

233

16,368

Noodles

&

Co.,

Class

a

A*

3,298

8,278

ONE

Group

Hospitality,

Inc.

(The)*

1,805

7,058

Papa

John's

International,

Inc.

2,702

194,247

PlayAGS,

Inc.*

3,032

28,137

Portillo's,

Inc.,

Class

a

A*

3,723

54,095

Potbelly

Corp.*

2,142

29,731

RCI

Hospitality

Holdings,

Inc.

719

40,523

Red

Robin

Gourmet

Burgers,

Inc.*

1,303

9,746

Red

Rock

Resorts,

Inc.,

Class

a

A

3,911

226,799

Rush

Street

Interactive,

Inc.*

5,308

31,052

Sabre

Corp.*

27,212

72,112

Shake

Shack,

Inc.,

Class

a

A*

3,105

330,124

Six

Flags

Entertainment

Corp.*

5,935

150,393

Super

Group

SGHC

Ltd.*

11,204

36,973

Sweetgreen,

Inc.,

Class

a

A*

7,936

101,105

Target

Hospitality

Corp.*(a)

2,568

24,858

United

Parks

&

Resorts,

Inc.*

2,988

153,434

Xponential

Fitness,

Inc.,

Class

a

A*

2,068

20,845

4,673,204

Household

Durables

—

1.4%

Beazer

Homes

USA,

Inc.*

2,421

75,850

Cavco

Industries,

Inc.*

719

267,878

Century

Communities,

Inc.

2,339

201,832

Cricut,

Inc.,

Class

a

A

3,929

18,977

Dream

Finders

Homes,

Inc.,

Class

a

A*

1,991

77,908

Ethan

Allen

Interiors,

Inc.

1,876

62,715

GoPro,

Inc.,

Class

a

A*

10,363

24,249

Green

Brick

Partners,

Inc.*

2,142

125,307

Helen

of

Troy

Ltd.*

1,953

244,125

Hooker

Furnishings

Corp.

876

21,471

Hovnanian

Enterprises,

Inc.,

Class

a

A*

400

62,664

Installed

Building

Products,

Inc.

1,948

465,436

iRobot

Corp.*(a)

2,252

25,695

KB

Home

5,857

389,080

Landsea

Homes

Corp.*

1,659

22,596

La-Z-Boy,

Inc.

3,568

135,548

Legacy

Housing

Corp.*

815

20,962

LGI

Homes,

Inc.*

1,711

195,208

Lovesac

Co.

(The)*

1,153

26,565

M/I

Homes,

Inc.*

2,213

281,029

MDC

Holdings,

Inc.

4,929

309,048

Meritage

Homes

Corp.

2,993

471,876

Purple

Innovation,

Inc.,

Class

a

A

4,500

8,370

Skyline

Champion

Corp.*

4,402

368,844

Snap

One

Holdings

Corp.*(a)

1,503

12,445

Sonos,

Inc.*

10,437

197,886

Taylor

Morrison

Home

Corp.,

Class

a

A*

8,515

482,034

Traeger,

Inc.*

2,914

6,469

Tri

Pointe

Homes,

Inc.*

7,904

279,644

United

Homes

Group,

Inc.*(a)

443

3,092

ULTRAPRO

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2024

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SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

128

URTY

::

Investments

Shares

Value

Common

Stocks

(continued)

Vizio

Holding

Corp.,

Class

a

A*

6,307

$

69,440

VOXX

International

Corp.,

Class

a

A*

973

8,270

Worthington

Enterprises,

Inc.

2,529

157,101

5,119,614

Household

Products

—

0.2%

Central

Garden

&

Pet

Co.*

792

34,745

Central

Garden

&

Pet

Co.,

Class

a

A*

4,241

159,843

Energizer

Holdings,

Inc.

5,887

168,074

Oil-Dri

Corp.

of

America

403

28,730

WD-40

Co.

1,116

299,523

690,915

Independent

Power

and

Renewable

Electricity

Producers

—

0.1%

Altus

Power,

Inc.,

Class

a

A*

5,249

35,746

Montauk

Renewables,

Inc.*

5,474

31,092

Ormat

Technologies,

Inc.

4,393

286,204

Sunnova

Energy

International,

Inc.*(a)

8,732

63,569

416,611

Industrial

Conglomerates

—

0.0%(d)

Brookfield

Business

Corp.,

Class

a

A

2,135

48,806

Industrial

REITs

—

0.3%

Innovative

Industrial

Properties,

Inc.,

REIT

2,295

224,887

LXP

Industrial

Trust,

REIT

23,809

206,186

Plymouth

Industrial

REIT,

Inc.,

REIT

3,628

78,256

Terreno

Realty

Corp.,

REIT

6,812

438,011

947,340

Insurance

—

1.1%

Ambac

Financial

Group,

Inc.*

3,635

59,469

American

Coastal

Insurance

Corp.*(a)

1,612

22,471

American

Equity

Investment

Life

Holding

Co.*

6,460

358,788

AMERISAFE,

Inc.

1,567

82,675

BRP

Group,

Inc.,

Class

a

A*

4,948

137,653

CNO

Financial

Group,

Inc.

9,204

245,655

Crawford

&

Co.,

Class

a

A

1,191

13,947

Donegal

Group,

Inc.,

Class

a

A

1,281

17,934

eHealth,

Inc.*

2,302

15,193

Employers

Holdings,

Inc.

2,108

96,357

Enstar

Group

Ltd.*

980

301,781

F&G

Annuities

&

Life,

Inc.

1,538

58,106

Fidelis

Insurance

Holdings

Ltd.*

1,245

18,625

Genworth

Financial,

Inc.,

Class

a

A*

37,978

233,565

GoHealth,

Inc.,

Class

a

A*

342

4,603

Goosehead

Insurance,

Inc.,

Class

a

A*

1,771

133,976

Greenlight

Capital

Re

Ltd.,

Class

a

A*

2,122

26,801

HCI

Group,

Inc.

530

51,739

Investments

Shares

Value

Common

Stocks

(continued)

Hippo

Holdings,

Inc.*(a)

875

$

12,294

Horace

Mann

Educators

Corp.

3,378

122,250

Investors

Title

Co.

100

15,542

James

River

Group

Holdings

Ltd.

3,042

30,389

Kingsway

Financial

Services,

Inc.*

896

7,903

Lemonade,

Inc.*(a)

4,166

67,656

Maiden

Holdings

Ltd.*

7,452

10,060

MBIA,

Inc.

3,756

24,527

Mercury

General

Corp.

2,203

107,264

National

Western

Life

Group,

Inc.,

Class

a

A

186

90,318

NI

Holdings,

Inc.*

677

9,478

Oscar

Health,

Inc.,

Class

a

A*

12,953

210,616

Palomar

Holdings,

Inc.*

2,003

152,508

ProAssurance

Corp.

4,282

52,797

Safety

Insurance

Group,

Inc.

1,181

97,031

Selective

Insurance

Group,

Inc.

4,949

517,071

Selectquote,

Inc.*

11,203

21,734

SiriusPoint

Ltd.*

5,741

70,442

Skyward

Specialty

Insurance

Group,

Inc.*

1,959

71,680

Stewart

Information

Services

Corp.

2,201

138,619

Tiptree,

Inc.,

Class

a

A

1,972

34,530

Trupanion,

Inc.*(a)

3,251

86,964

United

Fire

Group,

Inc.

1,727

40,222

Universal

Insurance

Holdings,

Inc.

1,997

40,319

3,911,552

Interactive

Media

&

Services

—

0.4%

Bumble,

Inc.,

Class

a

A*

8,315

95,207

Cargurus,

Inc.,

Class

a

A*

8,035

177,895

Cars.com,

Inc.*

5,467

100,265

DHI

Group,

Inc.*

3,514

9,945

EverQuote,

Inc.,

Class

a

A*

1,762

28,227

fuboTV,

Inc.*

23,265

48,158

Grindr,

Inc.*(a)

3,368

27,887

MediaAlpha,

Inc.,

Class

a

A*

1,857

38,533

Nextdoor

Holdings,

Inc.*

11,952

26,175

Outbrain,

Inc.*

3,371

12,405

QuinStreet,

Inc.*

4,341

63,509

Shutterstock,

Inc.

2,026

98,788

System1,

Inc.*(a)

2,686

4,486

TrueCar,

Inc.*

7,353

25,588

Vimeo,

Inc.*

12,504

59,894

Yelp,

Inc.,

Class

a

A*

5,472

210,344

Ziff

Davis,

Inc.*

3,802

261,425

ZipRecruiter,

Inc.,

Class

a

A*

5,558

70,698

1,359,429

IT

Services

—

0.3%

Applied

Digital

Corp.*(a)

6,735

27,950

BigBear.ai

Holdings,

Inc.*(a)

2,404

8,077

BigCommerce

Holdings,

Inc.,

Series

1*

5,521

42,788

Brightcove,

Inc.*

3,584

7,939

Couchbase,

Inc.*

2,857

80,225

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRAPRO

RUSSELL2000

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

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URTY

::

Investments

Shares

Value

Common

Stocks

(continued)

DigitalOcean

Holdings,

Inc.*

5,210

$

197,563

Fastly,

Inc.,

Class

a

A*

9,924

141,119

Grid

Dynamics

Holdings,

Inc.*

4,627

62,418

Hackett

Group,

Inc.

(The)

2,055

50,800

Information

Services

Group,

Inc.

2,883

12,483

Perficient,

Inc.*

2,820

182,933

Rackspace

Technology,

Inc.*

5,194

10,959

Squarespace,

Inc.,

Class

a

A*

4,148

138,046

Thoughtworks

Holding,

Inc.*

7,604

23,725

Tucows,

Inc.,

Class

a

A*(a)

816

15,422

Unisys

Corp.*

5,461

28,343

1,030,790

Leisure

Products

—

0.2%

Acushnet

Holdings

Corp.

2,533

163,176

AMMO,

Inc.*

7,406

17,626

Clarus

Corp.

2,405

13,853

Escalade,

Inc.(a)

818

12,131

Funko,

Inc.,

Class

a

A*

2,929

20,620

JAKKS

Pacific,

Inc.*

606

21,277

Johnson

Outdoors,

Inc.,

Class

a

A

444

20,406

Latham

Group,

Inc.*

3,189

10,811

Malibu

Boats,

Inc.,

Class

a

A*

1,670

72,879

Marine

Products

Corp.

692

7,930

MasterCraft

Boat

Holdings,

Inc.*

1,395

30,592

Smith

&

Wesson

Brands,

Inc.

3,757

51,584

Solo

Brands,

Inc.,

Class

a

A*

1,631

4,404

Sturm

Ruger

&

Co.,

Inc.

1,436

62,208

Topgolf

Callaway

Brands

Corp.*

11,826

168,402

Vista

Outdoor,

Inc.*

4,747

148,106

826,005

Life

Sciences

Tools

&

Services

—

0.2%

Adaptive

Biotechnologies

Corp.*

9,326

38,330

Akoya

Biosciences,

Inc.*

1,904

10,929

BioLife

Solutions,

Inc.*

2,857

48,283

Codexis,

Inc.*

5,723

26,612

CryoPort,

Inc.*

3,554

62,799

Cytek

Biosciences,

Inc.*

9,953

76,638

Harvard

Bioscience,

Inc.*

3,328

14,410

MaxCyte,

Inc.*

7,176

33,010

Mesa

Laboratories,

Inc.

424

46,297

Nautilus

Biotechnology,

Inc.,

Class

a

A*

4,146

11,153

OmniAb,

Inc.*

7,656

44,711

Pacific

Biosciences

of

California,

Inc.*

20,699

114,465

Quanterix

Corp.*

2,894

69,340

Quantum-Si,

Inc.*(a)

8,354

13,951

Seer,

Inc.,

Class

a

A*

4,813

8,760

619,688

Machinery

—

2.0%

374Water,

Inc.*(a)

5,066

6,738

3D

Systems

Corp.*

10,733

44,435

Alamo

Group,

Inc.

830

167,901

Albany

International

Corp.,

Class

a

A

2,570

241,246

Astec

Industries,

Inc.

1,867

75,800

Barnes

Group,

Inc.

4,025

140,633

Investments

Shares

Value

Common

Stocks

(continued)

Blue

Bird

Corp.*

2,080

$

70,387

Chart

Industries,

Inc.*

3,531

504,439

Columbus

McKinnon

Corp.

2,317

96,781

Commercial

Vehicle

Group,

Inc.*

2,672

17,475

Desktop

Metal,

Inc.,

Class

a

A*(a)

23,036

14,091

Douglas

Dynamics,

Inc.

1,854

46,535

Energy

Recovery,

Inc.*

4,578

71,554

Enerpac

Tool

Group

Corp.,

Class

a

A

4,484

151,156

Enpro,

Inc.

1,722

268,322

ESCO

Technologies,

Inc.

2,105

214,478

Federal

Signal

Corp.

4,925

403,407

Franklin

Electric

Co.,

Inc.

3,796

394,632

Gencor

Industries,

Inc.*

866

14,194

Gorman-Rupp

Co.

(The)

1,881

70,218

Greenbrier

Cos.,

Inc.

(The)

2,509

129,841

Helios

Technologies,

Inc.

2,724

120,265

Hillenbrand,

Inc.

5,759

273,840

Hillman

Solutions

Corp.*

16,042

156,249

Hyliion

Holdings

Corp.*

12,122

22,062

Hyster-Yale

Materials

Handling,

Inc.

914

53,816

John

Bean

Technologies

Corp.

2,616

265,472

Kadant,

Inc.

960

323,808

Kennametal,

Inc.

6,628

167,291

Lindsay

Corp.

910

108,572

Luxfer

Holdings

plc

2,195

21,774

Manitowoc

Co.,

Inc.

(The)*

2,863

39,910

Mayville

Engineering

Co.,

Inc.*

922

11,285

Microvast

Holdings,

Inc.*(a)

17,655

15,189

Miller

Industries,

Inc.

914

41,139

Mueller

Industries,

Inc.

9,213

473,364

Mueller

Water

Products,

Inc.,

Class

a

A

12,754

198,325

Nikola

Corp.*(a)

51,067

38,004

Omega

Flex,

Inc.

269

18,736

Park-Ohio

Holdings

Corp.

703

18,883

Proto

Labs,

Inc.*

2,165

78,871

REV

Group,

Inc.

2,602

53,705

Shyft

Group,

Inc.

(The)

2,777

28,631

SPX

Technologies,

Inc.*

3,628

425,165

Standex

International

Corp.

969

167,637

Tennant

Co.

1,522

172,275

Terex

Corp.

5,466

313,475

Titan

International,

Inc.*

4,307

54,957

Trinity

Industries,

Inc.

6,671

169,310

Velo3D,

Inc.*(a)

7,470

2,040

Wabash

National

Corp.

3,785

103,255

Watts

Water

Technologies,

Inc.,

Class

a

A

2,247

458,276

7,539,844

Marine

Transportation

—

0.2%

Costamare,

Inc.

3,816

43,388

Eagle

Bulk

Shipping,

Inc.(a)

759

46,504

Genco

Shipping

&

Trading

Ltd.

3,459

70,564

Golden

Ocean

Group

Ltd.

10,113

130,154

Himalaya

Shipping

Ltd.*

2,317

18,281

Matson,

Inc.

2,837

315,049

ULTRAPRO

RUSSELL2000

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(UNAUDITED)

SCHEDULE

OF

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INVESTMENTS

PROSHARES

TRUST

130

URTY

::

Investments

Shares

Value

Common

Stocks

(continued)

Pangaea

Logistics

Solutions

Ltd.

2,991

$

25,064

Safe

Bulkers,

Inc.

5,448

25,279

674,283

Media

—

0.4%

Advantage

Solutions,

Inc.*

7,134

27,181

AMC

Networks,

Inc.,

Class

a

A*

2,537

32,829

Boston

Omaha

Corp.,

Class

a

A*

1,927

31,622

Cardlytics,

Inc.*

3,002

24,887

Clear

Channel

Outdoor

Holdings,

Inc.*

30,804

52,983

Daily

Journal

Corp.*

110

37,241

EchoStar

Corp.,

Class

a

A*

10,000

131,100

Emerald

Holding,

Inc.*

1,283

6,877

Entravision

Communications

Corp.,

Class

a

A

4,942

19,027

EW

Scripps

Co.

(The),

Class

a

A*

4,887

19,695

Gambling.com

Group

Ltd.*

1,259

11,532

Gannett

Co.,

Inc.*

11,847

25,234

Gray

Television,

Inc.

6,943

40,547

iHeartMedia,

Inc.,

Class

a

A*

8,528

23,623

Integral

Ad

Science

Holding

Corp.*

3,988

41,316

John

Wiley

&

Sons,

Inc.,

Class

a

A

2,995

99,883

Magnite,

Inc.*

11,117

133,626

PubMatic,

Inc.,

Class

a

A*

3,512

73,541

Scholastic

Corp.

2,200

86,768

Sinclair,

Inc.

2,698

40,065

Stagwell,

Inc.,

Class

a

A*

6,592

35,201

TechTarget,

Inc.*

2,088

66,210

TEGNA,

Inc.

16,593

232,468

Thryv

Holdings,

Inc.*

2,546

53,313

Townsquare

Media,

Inc.,

Class

a

A

958

10,193

Urban

One,

Inc.*

936

2,724

Urban

One,

Inc.,

Class

a

A*

743

2,459

WideOpenWest,

Inc.*

4,109

16,436

1,378,581

Metals

&

Mining

—

1.0%

5E

Advanced

Materials,

Inc.*(a)

3,227

5,841

Alpha

Metallurgical

Resources,

Inc.

949

358,010

Arch

Resources,

Inc.

1,479

244,464

ATI,

Inc.*

10,597

521,160

Caledonia

Mining

Corp.

plc

1,348

13,332

Carpenter

Technology

Corp.

4,020

259,893

Century

Aluminum

Co.*

4,321

45,241

Coeur

Mining,

Inc.*

27,205

70,461

Commercial

Metals

Co.

9,627

519,858

Compass

Minerals

International,

Inc.

2,814

64,159

Constellium

SE,

Class

a

A*

10,587

205,282

Contango

ORE,

Inc.*(a)

641

10,852

Dakota

Gold

Corp.*

4,617

9,788

Haynes

International,

Inc.

1,028

61,094

Hecla

Mining

Co.

50,213

177,754

i-80

Gold

Corp.*

15,863

19,987

Ivanhoe

Electric,

Inc.*

5,189

38,399

Investments

Shares

Value

Common

Stocks

(continued)

Kaiser

Aluminum

Corp.

1,311

$

95,074

Materion

Corp.

1,689

226,867

Metallus,

Inc.*

3,573

77,713

NioCorp

Developments

Ltd.*

171

446

Novagold

Resources,

Inc.*

19,865

49,265

Olympic

Steel,

Inc.

811

55,164

Perpetua

Resources

Corp.*(a)

3,102

8,965

Piedmont

Lithium,

Inc.*

1,474

21,461

Radius

Recycling,

Inc.,

Class

a

A

2,125

41,990

Ramaco

Resources,

Inc.,

Class

a

A

1,829

32,154

Ramaco

Resources,

Inc.,

Class

a

B(a)

371

4,452

Ryerson

Holding

Corp.

2,312

73,013

SunCoke

Energy,

Inc.

6,866

73,535

Tredegar

Corp.

2,192

9,535

Warrior

Met

Coal,

Inc.

4,251

242,180

Worthington

Steel,

Inc.*

2,529

80,068

3,717,457

Mortgage

Real

Estate

Investment

Trusts

(REITs)

—

0.6%

AFC

Gamma,

Inc.

1,346

15,479

Angel

Oak

Mortgage

REIT,

Inc.

970

10,156

Apollo

Commercial

Real

Estate

Finance,

Inc.

11,667

130,787

Arbor

Realty

Trust,

Inc.(a)

15,127

202,702

Ares

Commercial

Real

Estate

Corp.

4,271

32,203

ARMOUR

Residential

REIT,

Inc.

(a)

4,040

79,992

Blackstone

Mortgage

Trust,

Inc.,

Class

a

A(a)

14,159

288,419

BrightSpire

Capital,

Inc.,

Class

a

A

10,586

73,149

Chicago

Atlantic

Real

Estate

Finance,

Inc.

1,343

21,877

Chimera

Investment

Corp.

18,690

81,488

Claros

Mortgage

Trust,

Inc.

7,456

72,174

Dynex

Capital,

Inc.

4,637

57,221

Ellington

Financial,

Inc.

6,174

69,951

Franklin

BSP

Realty

Trust,

Inc.

6,831

88,188

Granite

Point

Mortgage

Trust,

Inc.

4,198

19,899

Hannon

Armstrong

Sustainable

Infrastructure

Capital,

Inc.

8,696

218,878

Invesco

Mortgage

Capital,

Inc.

3,693

33,351

KKR

Real

Estate

Finance

Trust,

Inc.

4,839

47,180

Ladder

Capital

Corp.,

Class

a

A

9,306

100,598

MFA

Financial,

Inc.

8,406

94,315

New

York

Mortgage

Trust,

Inc.

7,477

53,909

Nexpoint

Real

Estate

Finance,

Inc.

662

9,295

Orchid

Island

Capital,

Inc.(a)

4,323

37,178

PennyMac

Mortgage

Investment

Trust

7,144

100,945

Ready

Capital

Corp.

13,160

116,203

Redwood

Trust,

Inc.

9,358

57,365

TPG

RE

Finance

Trust,

Inc.

5,674

42,442

Two

Harbors

Investment

Corp.

7,991

101,246

2,256,590

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRAPRO

RUSSELL2000

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

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URTY

::

Investments

Shares

Value

Common

Stocks

(continued)

Multi-Utilities

—

0.2%

Avista

Corp.

6,301

$

209,193

Black

Hills

Corp.

5,546

288,558

Northwestern

Energy

Group,

Inc.

5,067

242,811

Unitil

Corp.

1,311

66,809

807,371

Office

REITs

—

0.4%

Brandywine

Realty

Trust,

REIT

13,982

60,123

City

Office

REIT,

Inc.,

REIT

3,201

14,661

COPT

Defense

Properties,

REIT

9,267

224,539

Douglas

Emmett,

Inc.,

REIT

13,253

175,205

Easterly

Government

Properties,

Inc.,

Class

a

A,

REIT

7,875

92,925

Equity

Commonwealth,

REIT*

8,388

157,946

JBG

SMITH

Properties,

REIT

8,333

138,161

Office

Properties

Income

Trust,

REIT

3,955

10,560

Orion

Office

REIT,

Inc.,

REIT

4,695

16,479

Paramount

Group,

Inc.,

REIT

15,201

67,340

Peakstone

Realty

Trust,

REIT(a)

2,973

40,938

Piedmont

Office

Realty

Trust,

Inc.,

Class

a

A,

REIT

10,147

63,622

Postal

Realty

Trust,

Inc.,

Class

a

A,

REIT

1,677

24,015

SL

Green

Realty

Corp.,

REIT(a)

5,324

258,107

1,344,621

Oil,

Gas

&

Consumable

Fuels

—

2.5%

Amplify

Energy

Corp.*

2,980

17,999

Ardmore

Shipping

Corp.

3,429

55,653

Berry

Corp.

6,192

43,654

California

Resources

Corp.

5,724

298,621

Callon

Petroleum

Co.*

5,035

156,891

Centrus

Energy

Corp.,

Class

a

A*

1,009

41,157

Chord

Energy

Corp.

3,439

558,666

Civitas

Resources,

Inc.

6,645

456,379

Clean

Energy

Fuels

Corp.*

13,934

41,105

CNX

Resources

Corp.*

12,872

269,668

Comstock

Resources,

Inc.

7,551

64,561

CONSOL

Energy,

Inc.

2,512

215,580

Crescent

Energy

Co.,

Class

a

A(a)

6,334

70,814

CVR

Energy,

Inc.

2,434

80,760

Delek

US

Holdings,

Inc.

5,288

134,895

DHT

Holdings,

Inc.

11,269

121,931

Dorian

LPG

Ltd.

2,833

102,413

Empire

Petroleum

Corp.*(a)

1,072

6,357

Encore

Energy

Corp.*(a)

12,051

46,517

Energy

Fuels,

Inc.*(a)

12,907

81,701

Enviva,

Inc.*(a)

2,570

1,027

Equitrans

Midstream

Corp.

35,894

383,707

Evolution

Petroleum

Corp.

2,550

14,943

Excelerate

Energy,

Inc.,

Class

a

A

1,488

23,362

FLEX

LNG

Ltd.

2,448

61,787

FutureFuel

Corp.

2,147

12,732

Gevo,

Inc.*(a)

19,202

17,120

Golar

LNG

Ltd.

8,231

167,007

Granite

Ridge

Resources,

Inc.(a)

2,800

17,220

Investments

Shares

Value

Common

Stocks

(continued)

Green

Plains,

Inc.*

4,779

$

101,793

Gulfport

Energy

Corp.*

921

130,773

Hallador

Energy

Co.*

1,876

14,258

HighPeak

Energy,

Inc.(a)

989

16,388

International

Seaways,

Inc.

3,338

176,680

Kinetik

Holdings,

Inc.,

Class

a

A(a)

1,496

52,839

Kosmos

Energy

Ltd.*

37,511

230,318

Magnolia

Oil

&

Gas

Corp.,

Class

a

A

14,743

334,371

Matador

Resources

Co.

9,313

588,116

Murphy

Oil

Corp.

12,213

484,490

NACCO

Industries,

Inc.,

Class

a

A

345

11,464

NextDecade

Corp.*(a)

6,414

29,440

Nordic

American

Tankers

Ltd.

16,863

68,632

Northern

Oil

&

Gas,

Inc.

7,233

258,435

Overseas

Shipholding

Group,

Inc.,

Class

a

A

5,076

30,862

Par

Pacific

Holdings,

Inc.*

4,540

163,985

PBF

Energy,

Inc.,

Class

a

A

9,171

428,286

Peabody

Energy

Corp.

9,397

232,764

Permian

Resources

Corp.,

Class

a

A

32,084

499,227

PrimeEnergy

Resources

Corp.*

59

5,832

REX

American

Resources

Corp.*

1,275

56,074

Riley

Exploration

Permian,

Inc.

728

17,217

Ring

Energy,

Inc.*(a)

9,847

14,081

SandRidge

Energy,

Inc.

2,622

34,191

Scorpio

Tankers,

Inc.

3,924

263,418

SFL

Corp.

Ltd.

9,460

126,386

SilverBow

Resources,

Inc.*

1,732

49,171

Sitio

Royalties

Corp.,

Class

a

A

6,753

154,103

SM

Energy

Co.

9,713

425,138

Talos

Energy,

Inc.*

11,148

147,042

Teekay

Corp.*

5,089

38,524

Teekay

Tankers

Ltd.,

Class

a

A

1,963

107,612

Tellurian,

Inc.*(a)

45,415

36,055

Uranium

Energy

Corp.*

31,067

201,314

VAALCO

Energy,

Inc.

8,852

39,480

Verde

Clean

Fuels,

Inc.*

50

212

Vertex

Energy,

Inc.*(a)

5,364

7,241

Vital

Energy,

Inc.*

1,920

96,634

Vitesse

Energy,

Inc.

2,060

46,824

W&T

Offshore,

Inc.

8,073

24,380

World

Kinect

Corp.

4,912

119,656

9,427,933

Paper

&

Forest

Products

—

0.1%

Clearwater

Paper

Corp.*

1,341

52,688

Glatfelter

Corp.*(a)

3,634

8,104

Sylvamo

Corp.

2,942

177,726

238,518

Passenger

Airlines

—

0.2%

Allegiant

Travel

Co.

1,298

94,468

Blade

Air

Mobility,

Inc.*

4,944

15,722

Frontier

Group

Holdings,

Inc.*(a)

3,167

21,979

Hawaiian

Holdings,

Inc.*

4,186

59,065

JetBlue

Airways

Corp.*

27,617

178,958

Joby

Aviation,

Inc.*(a)

22,900

128,698

SkyWest,

Inc.*

3,327

213,660

ULTRAPRO

RUSSELL2000

::

FEBRUARY

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2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

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URTY

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Investments

Shares

Value

Common

Stocks

(continued)

Spirit

Airlines,

Inc.(a)

9,016

$

58,153

Sun

Country

Airlines

Holdings,

Inc.*

3,098

46,470

817,173

Personal

Care

Products

—

0.6%

Beauty

Health

Co.

(The)*

6,720

22,378

BellRing

Brands,

Inc.*

10,841

617,395

Edgewell

Personal

Care

Co.

4,142

158,183

elf

Beauty,

Inc.*

4,434

924,622

Herbalife

Ltd.*

8,119

71,691

Inter

Parfums,

Inc.

1,508

221,254

Medifast,

Inc.

882

35,359

Nature's

Sunshine

Products,

Inc.*

1,084

19,241

Nu

Skin

Enterprises,

Inc.,

Class

a

A

4,095

51,187

USANA

Health

Sciences,

Inc.*

936

45,171

Waldencast

plc,

Class

a

A*(a)

2,962

19,786

2,186,267

Pharmaceuticals

—

1.0%

Aclaris

Therapeutics,

Inc.*

5,702

6,785

Amneal

Pharmaceuticals,

Inc.*

10,009

55,250

Amphastar

Pharmaceuticals,

Inc.*

3,163

147,301

Amylyx

Pharmaceuticals,

Inc.*

4,171

78,623

ANI

Pharmaceuticals,

Inc.*

1,193

80,730

Arvinas,

Inc.*

4,031

185,345

Assertio

Holdings,

Inc.*

7,286

6,440

Atea

Pharmaceuticals,

Inc.*

6,295

27,131

Axsome

Therapeutics,

Inc.*

2,926

238,118

Biote

Corp.,

Class

a

A*

1,150

6,843

Bright

Green

Corp.*(a)

5,100

1,271

Cara

Therapeutics,

Inc.*(a)

3,840

3,265

Cassava

Sciences,

Inc.*(a)

3,266

75,053

Citius

Pharmaceuticals,

Inc.*(a)

10,091

7,753

Collegium

Pharmaceutical,

Inc.*

2,846

104,477

Corcept

Therapeutics,

Inc.*

6,590

154,865

CorMedix,

Inc.*(a)

4,512

15,973

Cymabay

Therapeutics,

Inc.*

9,297

299,270

Edgewise

Therapeutics,

Inc.*

3,512

57,351

Enliven

Therapeutics,

Inc.*(a)

1,918

30,630

Evolus,

Inc.*

3,401

50,437

Eyenovia,

Inc.*(a)

2,469

5,345

EyePoint

Pharmaceuticals,

Inc.*

2,194

59,699

Harmony

Biosciences

Holdings,

Inc.*

2,647

84,969

Harrow,

Inc.*(a)

2,490

26,954

Ikena

Oncology,

Inc.*

2,542

3,635

Innoviva,

Inc.*

4,896

74,811

Intra-Cellular

Therapies,

Inc.*

7,694

534,887

Ligand

Pharmaceuticals,

Inc.*

1,382

109,662

Liquidia

Corp.*(a)

3,895

55,153

Longboard

Pharmaceuticals,

Inc.*

1,278

28,346

Marinus

Pharmaceuticals,

Inc.*

4,165

39,568

Neumora

Therapeutics,

Inc.*(a)

1,223

21,562

NGM

Biopharmaceuticals,

Inc.*(a)

3,578

5,439

Investments

Shares

Value

Common

Stocks

(continued)

Nuvation

Bio,

Inc.*

11,962

$

22,369

Ocular

Therapeutix,

Inc.*

6,562

66,014

Omeros

Corp.*(a)

4,999

22,496

Optinose,

Inc.*

5,987

10,657

Pacira

BioSciences,

Inc.*

3,741

111,183

Phathom

Pharmaceuticals,

Inc.*(a)

2,632

28,162

Phibro

Animal

Health

Corp.,

Class

a

A

1,681

21,735

Pliant

Therapeutics,

Inc.*

4,692

74,462

Prestige

Consumer

Healthcare,

Inc.*

4,093

284,791

Revance

Therapeutics,

Inc.*

7,185

51,301

Scilex

Holding

Co.*

4,873

11,062

scPharmaceuticals,

Inc.*(a)

2,371

14,273

SIGA

Technologies,

Inc.

3,783

19,709

Supernus

Pharmaceuticals,

Inc.*

4,036

119,869

Taro

Pharmaceutical

Industries

Ltd.*

671

28,229

Tarsus

Pharmaceuticals,

Inc.*

2,355

90,008

Terns

Pharmaceuticals,

Inc.*

3,519

25,759

Theravance

Biopharma,

Inc.*(a)

4,231

40,068

Third

Harmonic

Bio,

Inc.*(a)

1,599

16,214

Trevi

Therapeutics,

Inc.*

3,460

10,103

Ventyx

Biosciences,

Inc.*(a)

3,843

27,208

Verrica

Pharmaceuticals,

Inc.*(a)

1,715

9,038

WaVe

Life

Sciences

Ltd.*

4,856

23,357

Xeris

Biopharma

Holdings,

Inc.*

10,924

33,591

Zevra

Therapeutics,

Inc.*(a)

2,987

20,132

3,864,731

Professional

Services

—

1.4%

Alight,

Inc.,

Class

a

A*

34,046

306,755

ASGN,

Inc.*

3,887

386,057

Asure

Software,

Inc.*

1,878

17,503

Barrett

Business

Services,

Inc.

542

66,119

BlackSky

Technology,

Inc.,

Class

a

A*(a)

9,815

13,937

CBIZ,

Inc.*

3,938

297,437

Conduent,

Inc.*

14,135

48,624

CRA

International,

Inc.

558

73,957

CSG

Systems

International,

Inc.

2,599

141,802

ExlService

Holdings,

Inc.*

13,286

413,460

Exponent,

Inc.

4,163

336,745

First

Advantage

Corp.

4,442

69,562

FiscalNote

Holdings,

Inc.*(a)

4,904

8,092

Forrester

Research,

Inc.*

963

19,424

Franklin

Covey

Co.*

954

36,424

Heidrick

&

Struggles

International,

Inc.

1,627

55,318

HireQuest,

Inc.(a)

441

5,909

HireRight

Holdings

Corp.*

1,131

16,026

Huron

Consulting

Group,

Inc.*

1,564

153,475

IBEX

Holdings

Ltd.*

766

12,225

ICF

International,

Inc.

1,538

238,159

Innodata,

Inc.*(a)

2,126

15,732

Insperity,

Inc.

2,922

297,430

Kelly

Services,

Inc.,

Class

a

A

2,568

62,993

Kforce,

Inc.

1,575

109,683

Korn

Ferry

4,288

272,974

FEBRUARY

29,

2024

(UNAUDITED)

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INVESTMENTS

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Investments

Shares

Value

Common

Stocks

(continued)

Legalzoom.com,

Inc.*

9,733

$

120,689

Maximus,

Inc.

4,999

418,216

Mistras

Group,

Inc.*

1,711

14,800

NV5

Global,

Inc.*

1,142

116,153

Planet

Labs

PBC*

14,392

31,519

Resources

Connection,

Inc.

2,664

36,843

Skillsoft

Corp.*

358

4,368

Sterling

Check

Corp.*

2,577

40,382

TriNet

Group,

Inc.*

2,631

336,794

TrueBlue,

Inc.*

2,498

29,352

TTEC

Holdings,

Inc.

1,598

27,885

Upwork,

Inc.*

10,275

134,603

Verra

Mobility

Corp.,

Class

a

A*

11,471

248,003

Willdan

Group,

Inc.*

1,001

20,901

5,056,330

Real

Estate

Management

&

Development

—

0.4%

American

Realty

Investors,

Inc.*(a)

123

2,380

Anywhere

Real

Estate,

Inc.*

8,858

55,540

Compass,

Inc.,

Class

a

A*

23,387

92,379

Cushman

&

Wakefield

plc*

13,648

136,344

DigitalBridge

Group,

Inc.

13,295

244,229

Douglas

Elliman,

Inc.

6,655

12,245

eXp

World

Holdings,

Inc.(a)

5,858

76,740

Forestar

Group,

Inc.*

1,506

50,782

FRP

Holdings,

Inc.*

542

32,628

Kennedy-Wilson

Holdings,

Inc.

9,835

86,351

Marcus

&

Millichap,

Inc.

1,949

71,509

Maui

Land

&

Pineapple

Co.,

Inc.*

619

12,114

Newmark

Group,

Inc.,

Class

a

A

11,280

121,711

Opendoor

Technologies,

Inc.*

45,653

140,611

RE/MAX

Holdings,

Inc.,

Class

a

A

1,436

12,249

Redfin

Corp.*

8,984

63,831

RMR

Group,

Inc.

(The),

Class

a

A

1,265

30,955

St

Joe

Co.

(The)

2,829

152,398

Star

Holdings*

1,065

13,153

Stratus

Properties,

Inc.*

462

10,095

Tejon

Ranch

Co.*

1,722

28,637

Transcontinental

Realty

Investors,

Inc.*

105

4,081

1,450,962

Residential

REITs

—

0.2%

Apartment

Investment

and

Management

Co.,

Class

a

A,

REIT*

12,016

88,678

BRT

Apartments

Corp.,

REIT

963

14,907

Centerspace,

REIT

1,240

68,932

Clipper

Realty,

Inc.,

REIT

940

4,399

Elme

Communities,

REIT

7,223

93,032

Independence

Realty

Trust,

Inc.,

REIT

18,542

271,455

NexPoint

Residential

Trust,

Inc.,

REIT

1,878

54,856

UMH

Properties,

Inc.,

REIT

4,917

75,722

Veris

Residential,

Inc.,

REIT

6,501

94,915

766,896

Investments

Shares

Value

Common

Stocks

(continued)

Retail

REITs

—

0.6%

Acadia

Realty

Trust,

REIT

7,680

$

125,875

Alexander's,

Inc.,

REIT

175

38,684

CBL

&

Associates

Properties,

Inc.,

REIT(a)

2,211

50,986

Getty

Realty

Corp.,

REIT

3,922

103,384

InvenTrust

Properties

Corp.,

REIT

5,585

141,021

Kite

Realty

Group

Trust,

REIT

17,892

383,068

Macerich

Co.

(The),

REIT

17,760

291,442

NETSTREIT

Corp.,

REIT

5,682

95,514

Phillips

Edison

&

Co.,

Inc.,

REIT

9,695

346,305

Retail

Opportunity

Investments

Corp.,

REIT

10,114

130,774

Saul

Centers,

Inc.,

REIT

955

34,561

SITE

Centers

Corp.,

REIT

15,664

212,717

Tanger,

Inc.,

REIT

8,397

241,918

Urban

Edge

Properties,

REIT

9,440

160,574

Whitestone

REIT,

REIT

3,996

49,231

2,406,054

Semiconductors

&

Semiconductor

Equipment

—

1.7%

ACM

Research,

Inc.,

Class

a

A*

3,953

122,227

Aehr

Test

Systems*

2,269

36,916

Alpha

&

Omega

Semiconductor

Ltd.*

1,905

41,719

Ambarella,

Inc.*

3,115

173,973

Amkor

Technology,

Inc.

9,250

286,935

Atomera,

Inc.*(a)

1,839

11,586

Axcelis

Technologies,

Inc.*

2,680

301,955

CEVA,

Inc.*

1,911

43,265

Cohu,

Inc.*

3,836

123,251

Credo

Technology

Group

Holding

Ltd.*

9,424

202,993

Diodes,

Inc.*

3,710

252,206

FormFactor,

Inc.*

6,342

272,896

Ichor

Holdings

Ltd.*

2,343

100,280

Impinj,

Inc.*

1,918

209,484

indie

Semiconductor,

Inc.,

Class

a

A*

12,372

76,583

inTEST

Corp.*

962

11,236

Kulicke

&

Soffa

Industries,

Inc.

4,561

217,195

MACOM

Technology

Solutions

Holdings,

Inc.*

4,469

394,747

Maxeon

Solar

Technologies

Ltd.*

2,415

9,684

MaxLinear,

Inc.,

Class

a

A*

6,250

121,500

Navitas

Semiconductor

Corp.,

Class

a

A*

8,985

55,168

NVE

Corp.

392

32,767

Onto

Innovation,

Inc.*

4,025

741,244

PDF

Solutions,

Inc.*

2,516

85,519

Photronics,

Inc.*

5,015

144,382

Power

Integrations,

Inc.

4,669

333,647

Rambus,

Inc.*

8,961

530,850

Semtech

Corp.*

5,254

111,385

Silicon

Laboratories,

Inc.*

2,611

359,117

SiTime

Corp.*

1,430

132,275

SkyWater

Technology,

Inc.*(a)

1,508

17,432

ULTRAPRO

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2024

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OF

PORTFOLIO

INVESTMENTS

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URTY

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Investments

Shares

Value

Common

Stocks

(continued)

SMART

Global

Holdings,

Inc.*

3,970

$

84,442

Synaptics,

Inc.*

3,243

324,624

Transphorm,

Inc.*(a)

2,412

11,602

Ultra

Clean

Holdings,

Inc.*

3,654

157,853

Veeco

Instruments,

Inc.*

4,177

151,249

6,284,187

Software

—

3.4%

8x8,

Inc.*

9,865

27,918

A10

Networks,

Inc.

5,801

77,211

ACI

Worldwide,

Inc.*

8,914

293,360

Adeia,

Inc.

8,791

99,690

Agilysys,

Inc.*

1,646

128,059

Alarm.com

Holdings,

Inc.*

3,936

297,916

Alkami

Technology,

Inc.*

3,295

82,210

Altair

Engineering,

Inc.,

Class

a

A*

4,463

379,712

American

Software,

Inc.,

Class

a

A

2,654

29,778

Amplitude,

Inc.,

Class

a

A*

5,563

65,977

Appfolio,

Inc.,

Class

a

A*

1,577

381,776

Appian

Corp.,

Class

a

A*

3,371

117,479

Asana,

Inc.,

Class

a

A*

6,677

131,537

Aurora

Innovation,

Inc.,

Class

a

A*

27,798

70,607

AvePoint,

Inc.*

12,200

97,600

Bit

Digital,

Inc.*(a)

7,237

18,816

Blackbaud,

Inc.*

3,579

247,595

BlackLine,

Inc.*

4,680

265,496

Box,

Inc.,

Class

a

A*

11,584

298,751

Braze,

Inc.,

Class

a

A*

4,305

244,955

C3.ai,

Inc.,

Class

a

A*(a)

6,685

247,144

Cerence,

Inc.*

3,312

49,349

Cipher

Mining,

Inc.*(a)

3,453

10,221

Cleanspark,

Inc.*

12,299

205,639

Clear

Secure,

Inc.,

Class

a

A

6,753

129,995

CommVault

Systems,

Inc.*

3,622

346,662

Consensus

Cloud

Solutions,

Inc.*

1,611

25,647

CoreCard

Corp.*

595

7,592

CS

Disco,

Inc.*

1,856

12,361

CXApp,

Inc.*

178

530

Digimarc

Corp.*

1,166

40,880

Digital

Turbine,

Inc.*

7,862

24,923

Domo,

Inc.,

Class

a

B*

2,615

30,099

E2open

Parent

Holdings,

Inc.*

13,954

59,025

eGain

Corp.*

1,711

10,488

Enfusion,

Inc.,

Class

a

A*

3,100

26,877

Envestnet,

Inc.*

4,115

212,046

Everbridge,

Inc.*

3,343

94,507

EverCommerce,

Inc.*

1,920

18,797

Expensify,

Inc.,

Class

a

A*

4,534

9,431

Freshworks,

Inc.,

Class

a

A*

13,313

272,118

Instructure

Holdings,

Inc.*

1,603

36,741

Intapp,

Inc.*

2,277

89,327

InterDigital,

Inc.

2,172

232,447

Jamf

Holding

Corp.*

5,808

104,486

Kaltura,

Inc.*

6,921

9,205

LivePerson,

Inc.*

6,445

8,185

LiveRamp

Holdings,

Inc.*

5,405

189,067

Marathon

Digital

Holdings,

Inc.*

17,494

453,095

Matterport,

Inc.*

20,980

44,478

Investments

Shares

Value

Common

Stocks

(continued)

MeridianLink,

Inc.*

2,157

$

40,897

MicroStrategy,

Inc.,

Class

a

A*(a)

1,003

1,025,909

Mitek

Systems,

Inc.*

3,577

41,529

Model

N,

Inc.*

3,123

76,701

N-able,

Inc.*

5,747

77,412

NextNav,

Inc.*(a)

4,552

19,483

Olo,

Inc.,

Class

a

A*

8,497

49,453

ON24,

Inc.

2,552

17,915

OneSpan,

Inc.*

3,292

31,636

PagerDuty,

Inc.*

7,445

179,871

PowerSchool

Holdings,

Inc.,

Class

a

A*

4,604

96,178

Progress

Software

Corp.

3,576

190,815

PROS

Holdings,

Inc.*

3,673

131,310

Q2

Holdings,

Inc.*

4,677

216,218

Qualys,

Inc.*

3,056

525,204

Rapid7,

Inc.*

4,981

291,787

Red

Violet,

Inc.*

914

16,324

Rimini

Street,

Inc.*

4,292

13,863

Riot

Platforms,

Inc.*

15,627

220,653

Sapiens

International

Corp.

NV

2,523

77,633

SEMrush

Holdings,

Inc.,

Class

a

A*

2,573

32,111

SolarWinds

Corp.*

4,185

49,969

SoundHound

AI,

Inc.,

Class

a

A*(a)

11,336

84,113

SoundThinking,

Inc.*

781

13,582

Sprinklr,

Inc.,

Class

a

A*

8,676

113,048

Sprout

Social,

Inc.,

Class

a

A*

3,925

242,644

SPS

Commerce,

Inc.*

3,015

558,257

Tenable

Holdings,

Inc.*

9,383

451,885

Terawulf,

Inc.*(a)

12,155

22,791

Varonis

Systems,

Inc.,

Class

a

B*

8,933

453,796

Verint

Systems,

Inc.*

5,133

162,254

Veritone,

Inc.*(a)

2,174

4,978

Viant

Technology,

Inc.,

Class

a

A*

1,205

10,953

Weave

Communications,

Inc.*

2,744

34,382

Workiva,

Inc.,

Class

a

A*

4,086

351,886

Xperi,

Inc.*

3,568

39,105

Yext,

Inc.*

8,792

52,049

Zeta

Global

Holdings

Corp.,

Class

a

A*

11,416

119,868

Zuora,

Inc.,

Class

a

A*

10,929

88,306

12,584,573

Specialized

REITs

—

0.2%

Farmland

Partners,

Inc.,

REIT(a)

3,671

43,318

Four

Corners

Property

Trust,

Inc.,

REIT

7,436

179,802

Gladstone

Land

Corp.,

REIT

2,754

35,830

Outfront

Media,

Inc.,

REIT

12,126

174,251

PotlatchDeltic

Corp.,

REIT

6,502

293,955

Safehold,

Inc.,

REIT

3,998

80,440

Uniti

Group,

Inc.,

REIT

19,575

114,709

922,305

Specialty

Retail

—

1.6%

1-800-Flowers.com,

Inc.,

Class

a

A*

2,138

22,278

Aaron's

Co.,

Inc.

(The)

2,474

19,173

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRAPRO

RUSSELL2000

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

135

URTY

::

Investments

Shares

Value

Common

Stocks

(continued)

Abercrombie

&

Fitch

Co.,

Class

a

A*

4,010

$

512,318

Academy

Sports

&

Outdoors,

Inc.

5,944

444,136

American

Eagle

Outfitters,

Inc.

15,016

356,630

America's

Car-Mart,

Inc.*

481

32,391

Arko

Corp.

6,675

43,588

Asbury

Automotive

Group,

Inc.*

1,702

355,429

BARK,

Inc.*

10,959

13,151

Beyond,

Inc.*

3,705

124,229

Big

5

Sporting

Goods

Corp.(a)

1,768

8,486

Boot

Barn

Holdings,

Inc.*

2,443

225,977

Buckle,

Inc.

(The)

2,511

102,800

Build-A-Bear

Workshop,

Inc.

1,080

25,855

Caleres,

Inc.

2,790

107,722

Camping

World

Holdings,

Inc.,

Class

a

A

3,433

91,627

CarParts.com,

Inc.*

4,470

11,398

Carvana

Co.,

Class

a

A*

7,885

598,708

Cato

Corp.

(The),

Class

a

A

1,431

9,459

Children's

Place,

Inc.

(The)*

979

18,836

Designer

Brands,

Inc.,

Class

a

A

3,547

37,456

Destination

XL

Group,

Inc.*

4,616

18,418

Duluth

Holdings,

Inc.,

Class

a

B*

1,111

5,288

Envela

Corp.*(a)

624

2,683

EVgo,

Inc.,

Class

a

A*(a)

8,500

25,160

Foot

Locker,

Inc.

6,748

232,334

Genesco,

Inc.*

906

28,919

Group

1

Automotive,

Inc.

1,123

303,940

GrowGeneration

Corp.*

4,833

10,343

Guess?,

Inc.

2,312

58,679

Haverty

Furniture

Cos.,

Inc.

1,202

41,229

Hibbett,

Inc.

1,006

82,442

J

Jill,

Inc.*

373

9,321

Lands'

End,

Inc.*

1,219

11,861

Lazydays

Holdings,

Inc.*

625

2,512

Leslie's,

Inc.*

14,593

115,285

MarineMax,

Inc.*

1,756

58,299

Monro,

Inc.

2,560

85,939

National

Vision

Holdings,

Inc.*

6,381

149,315

ODP

Corp.

(The)*

2,667

150,632

OneWater

Marine,

Inc.,

Class

a

A*

946

24,605

PetMed

Express,

Inc.

1,689

8,546

Rent

the

Runway,

Inc.,

Class

a

A*(a)

4,102

1,665

Revolve

Group,

Inc.,

Class

a

A*(a)

3,371

73,926

Sally

Beauty

Holdings,

Inc.*

8,818

111,371

Shoe

Carnival,

Inc.

1,497

49,057

Signet

Jewelers

Ltd.

3,664

372,849

Sleep

Number

Corp.*

1,754

28,976

Sonic

Automotive,

Inc.,

Class

a

A

1,205

63,262

Sportsman's

Warehouse

Holdings,

Inc.*

3,076

11,104

Stitch

Fix,

Inc.,

Class

a

A*

7,030

22,707

ThredUp,

Inc.,

Class

a

A*

5,895

11,790

Tile

Shop

Holdings,

Inc.*

2,366

16,444

Tilly's,

Inc.,

Class

a

A*

1,839

14,142

Torrid

Holdings,

Inc.*(a)

992

4,990

Upbound

Group,

Inc.

4,527

152,832

Urban

Outfitters,

Inc.*

5,244

217,888

Investments

Shares

Value

Common

Stocks

(continued)

Warby

Parker,

Inc.,

Class

a

A*

6,962

$

88,487

Winmark

Corp.

236

89,574

Zumiez,

Inc.*

1,309

23,065

5,941,526

Technology

Hardware,

Storage

&

Peripherals

—

1.0%

CompoSecure,

Inc.*(a)

1,349

6,529

Corsair

Gaming,

Inc.*

3,035

39,303

CPI

Card

Group,

Inc.*

348

6,577

Eastman

Kodak

Co.*

4,683

25,007

Immersion

Corp.

2,570

17,348

Intevac,

Inc.*

2,126

8,207

IonQ,

Inc.*(a)

13,206

136,814

Super

Micro

Computer,

Inc.*

3,811

3,300,783

Turtle

Beach

Corp.*

1,340

14,311

Xerox

Holdings

Corp.

9,612

179,264

3,734,143

Textiles,

Apparel

&

Luxury

Goods

—

0.3%

Allbirds,

Inc.,

Class

a

A*(a)

7,949

7,234

Figs,

Inc.,

Class

a

A*(a)

10,500

54,915

Fossil

Group,

Inc.*

3,953

4,190

G-III

Apparel

Group

Ltd.*

3,395

112,952

Hanesbrands,

Inc.*

28,919

156,163

Kontoor

Brands,

Inc.

4,618

272,970

Movado

Group,

Inc.

1,258

36,117

Oxford

Industries,

Inc.

1,231

124,811

Rocky

Brands,

Inc.

574

14,321

Steven

Madden

Ltd.

6,186

264,885

Vera

Bradley,

Inc.*

2,153

16,793

Wolverine

World

Wide,

Inc.

6,384

64,925

1,130,276

Tobacco

—

0.1%

Ispire

Technology,

Inc.*(a)

1,456

14,735

Turning

Point

Brands,

Inc.

1,407

35,597

Universal

Corp.

1,981

95,108

Vector

Group

Ltd.

11,946

133,317

278,757

Trading

Companies

&

Distributors

—

1.2%

Alta

Equipment

Group,

Inc.

1,896

21,766

Applied

Industrial

Technologies,

Inc.

3,172

602,331

Beacon

Roofing

Supply,

Inc.*

5,197

446,370

BlueLinx

Holdings,

Inc.*

695

88,161

Boise

Cascade

Co.

3,264

443,610

Custom

Truck

One

Source,

Inc.*

4,660

29,917

Distribution

Solutions

Group,

Inc.*

824

25,882

DNOW,

Inc.*

8,750

123,812

DXP

Enterprises,

Inc.*

1,117

39,676

EVI

Industries,

Inc.

388

8,354

FTAI

Aviation

Ltd.

8,181

460,508

GATX

Corp.

2,917

369,992

Global

Industrial

Co.

1,077

47,226

GMS,

Inc.*

3,372

301,153

H&E

Equipment

Services,

Inc.

2,642

149,247

Herc

Holdings,

Inc.

2,323

368,614

ULTRAPRO

RUSSELL2000

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

136

URTY

::

Investments

Shares

Value

Common

Stocks

(continued)

Hudson

Technologies,

Inc.*

3,599

$

52,725

Karat

Packaging,

Inc.

557

16,482

McGrath

RentCorp

2,029

252,570

MRC

Global,

Inc.*

6,894

79,488

Rush

Enterprises,

Inc.,

Class

a

A

5,064

246,617

Rush

Enterprises,

Inc.,

Class

a

B

748

37,722

Textainer

Group

Holdings

Ltd.

3,321

165,718

Titan

Machinery,

Inc.*

1,692

42,689

Transcat,

Inc.*

672

70,668

Willis

Lease

Finance

Corp.*

243

11,645

Xometry,

Inc.,

Class

a

A*

2,788

54,533

4,557,476

Water

Utilities

—

0.2%

American

States

Water

Co.

3,045

217,443

Artesian

Resources

Corp.,

Class

a

A

750

25,853

Cadiz,

Inc.*(a)

3,329

9,654

California

Water

Service

Group

4,750

217,978

Consolidated

Water

Co.

Ltd.

1,234

36,477

Global

Water

Resources,

Inc.

944

12,215

Middlesex

Water

Co.

1,439

73,231

Pure

Cycle

Corp.*

1,607

16,022

SJW

Group

2,623

144,422

York

Water

Co.

(The)

1,170

41,418

794,713

Wireless

Telecommunication

Services

—

0.1%

Gogo,

Inc.*

5,448

44,456

Spok

Holdings,

Inc.

1,459

26,218

Telephone

and

Data

Systems,

Inc.

8,131

124,404

Tingo

Group,

Inc.*(a)

8,034

—

195,078

Total

Common

Stocks

(Cost

$179,758,264)

210,538,872

Number

of

Rights

Rights

—

0

.0

%

(d)

Biotechnology

—

0.0%(d)

Aduro

Biotech,

Inc.,

CVR*(e)(f)

899

—

Cartesian

Therapeutics,

Inc.,

expiring

5/3/2024*(e)(f)

9,359

1,685

Chinook

Therape,

CVR*(e)(f)

4,511

—

Oncternal

Therapeutics,

Inc.,

CVR*(e)(f)

23

—

Tobira

Therapeutics,

Inc.,

CVR*(e)(f)

218

—

1,685

Food

Products

—

0.0%(d)

Contraf-Nicotex-Tobacco

GmbH,

CVR*(e)(f)

1,074

537

Total

Rights

(Cost

3929)

2,222

Investments

Shares

Value

Securities

Lending

Reinvestments

(g)

—

1

.6

%

Investment

Companies

—

1

.6

%

Invesco

Government

&

Agency

Portfolio,

Institutional

Class

5.25%

(h)

(Cost

$6,018,930)

6,018,930

$

6,018,930

Principal

Amount

Short-Term

Investments

—

2

.6

%

Repurchase

Agreements

(i)

—

2

.6

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$9,808,575

(Cost

$9,807,132)

$

9,807,132

9,807,132

Total

Investments

—

61.0%

(Cost

$195,588,255)

226,367,156

Other

assets

less

liabilities

—

39.0%

144,760,218

Net

Assets

—

100.0%

$

371,127,374

*

Non-income

producing

security.

(a)

The

security

or

a

portion

of

this

security

is

on

loan

at

February

29,

2024.

The

total

value

of

securities

on

loan

at

February

29,

2024

was

$6,278,529,

collateralized

in

the

form

of

cash

with

a

value

of

$6,018,930

that

was

reinvested

in

the

securities

shown

in

the

Securities

Lending

Reinvestment

section

of

the

Schedule

of

Portfolio

Investments

and

$501,803

of

collateral

in

the

form

of

U.S.

Government

Treasury

Securities,

interest

rates

ranging

from

0.00%

–

7.63%,

and

maturity

dates

ranging

from

March

15,

2024

–

August

15,

2053.

The

total

value

of

collateral

is

$6,520,733.

(b)

Security

exempt

from

registration

pursuant

to

Regulation

S

under

the

Securities

Act

of

1933.

Regulation

S

applies

to

securities

offerings

that

are

made

outside

of

the

United

States

and

do

not

involve

direct

selling

efforts

in

the

United

States

and

as

such

may

have

restrictions

on

resale.

(c)

Amount

less

than

one

dollar.

(d)

Represents

less

than

0.05%

of

net

assets.

(e)

Security

fair

valued

as

of

February

29,

2024

in

accordance

with

procedures

approved

by

the

Board

of

Trustees.

Total

value

of

all

such

securities

at

February

29,

2024

amounted

to

$2,222,

which

represents

approximately

0.00%

of

net

assets

of

the

Fund.

(f)

Illiquid

security.

(g)

The

security

was

purchased

with

cash

collateral

held

from

securities

on

loan

at

February

29,

2024.

The

total

value

of

securities

purchased

was

$6,018,930.

(h)

Rate

shown

is

the

7-day

yield

as

of

February

29,

2024.

(i)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Abbreviations

CVR

Contingent

Value

Rights

-

No

defined

expiration

REIT

Real

Estate

Investment

Trust

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRAPRO

RUSSELL2000

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

137

URTY

::

Futures

Contracts

Purchased

UltraPro

Russell2000

had

the

following

open

long

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

AAAAAA

Expiration

Date

AAAAAA

Trading

Currency

AA

Notional

Amount

AAAAAA

Value

and

Unrealized

Appreciation

AAAAAA

Russell

2000

E-Mini

Index

183

3/15/2024

U.S.

Dollar

$

18,824,295

$

1,352,515

Swap

Agreements

UltraPro

Russell2000

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

($)

88,479,356

3/6/2025

Bank

of

America

NA

5.58%

Russell

2000

®

Index

11,571,575

167,888,647

11/6/2025

Barclays

Capital

5.83%

Russell

2000

®

Index

8,204,531

97,781,616

2/11/2025

BNP

Paribas

SA

5.58%

Russell

2000

®

Index

8,418,282

114,253,214

11/6/2025

Citibank

NA

5.62%

Russell

2000

®

Index

9,056,660

150,422,507

3/6/2025

Goldman

Sachs

International

5.73%

Russell

2000

®

Index

14,980,558

74,286,576

11/6/2025

Morgan

Stanley

&

Co.

International

plc

5.78%

Russell

2000

®

Index

5,150,063

72,272,832

4/8/2024

Societe

Generale

5.88%

Russell

2000

®

Index

23,152,979

118,755,368

11/7/2024

UBS

AG

5.33%

Russell

2000

®

Index

11,235,174

884,140,116

91,769,822

Total

Unrealized

Appreciation

91,769,822

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRAPRO

S&P500

®

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

138

UPRO

::

Investments

Shares

Value

Common

Stocks

—

57

.1

%

Aerospace

&

Defense

—

0.9%

Axon

Enterprise,

Inc.*

2,813

$

864,632

Boeing

Co.

(The)*

22,732

4,630,963

General

Dynamics

Corp.

9,053

2,473,732

Howmet

Aerospace,

Inc.

15,639

1,040,775

Huntington

Ingalls

Industries,

Inc.

1,588

463,093

L3Harris

Technologies,

Inc.

7,574

1,603,113

Lockheed

Martin

Corp.

8,829

3,780,931

Northrop

Grumman

Corp.

5,668

2,613,061

RTX

Corp.

57,486

5,154,770

Textron,

Inc.

7,836

697,953

TransDigm

Group,

Inc.

2,210

2,602,805

25,925,828

Air

Freight

&

Logistics

—

0.3%

CH

Robinson

Worldwide,

Inc.

4,664

345,509

Expeditors

International

of

Washington,

Inc.

5,812

695,115

FedEx

Corp.

9,250

2,302,973

United

Parcel

Service,

Inc.,

Class

a

B

28,913

4,286,641

7,630,238

Automobile

Components

—

0.0%(a)

Aptiv

plc*

11,312

899,191

BorgWarner,

Inc.

9,398

292,560

1,191,751

Automobiles

—

0.9%

Ford

Motor

Co.

157,192

1,955,468

General

Motors

Co.

54,746

2,243,491

Tesla,

Inc.*

110,551

22,318,036

26,516,995

Banks

—

1.8%

Bank

of

America

Corp.

275,240

9,501,285

Citigroup,

Inc.

76,514

4,245,762

Citizens

Financial

Group,

Inc.

18,634

584,921

Comerica,

Inc.

5,272

260,331

Fifth

Third

Bancorp

27,226

934,941

Huntington

Bancshares,

Inc.

57,888

754,860

JPMorgan

Chase

&

Co.

115,574

21,503,698

KeyCorp

37,427

534,083

M&T

Bank

Corp.

6,638

927,594

PNC

Financial

Services

Group,

Inc.

(The)

15,922

2,343,718

Regions

Financial

Corp.

37,183

692,719

Truist

Financial

Corp.

53,320

1,865,134

US

Bancorp

62,248

2,611,926

Wells

Fargo

&

Co.

145,179

8,070,501

Zions

Bancorp

NA

5,920

233,426

55,064,899

Beverages

—

0.8%

Brown-Forman

Corp.,

Class

a

B

7,316

440,643

Coca-Cola

Co.

(The)

155,552

9,336,231

Investments

Shares

Value

Common

Stocks

(continued)

Constellation

Brands,

Inc.,

Class

a

A

6,459

$

1,605,191

Keurig

Dr

Pepper,

Inc.

40,252

1,203,937

Molson

Coors

Beverage

Co.,

Class

a

B

7,402

462,033

Monster

Beverage

Corp.*

29,530

1,745,223

PepsiCo,

Inc.

54,966

9,088,078

23,881,336

Biotechnology

—

1.1%

AbbVie,

Inc.

70,578

12,425,257

Amgen,

Inc.

21,397

5,859,141

Biogen,

Inc.*

5,792

1,256,806

Gilead

Sciences,

Inc.

49,814

3,591,589

Incyte

Corp.*

7,435

433,907

Moderna,

Inc.*

13,259

1,223,010

Regeneron

Pharmaceuticals,

Inc.*

4,281

4,135,831

Vertex

Pharmaceuticals,

Inc.*

10,305

4,335,726

33,261,267

Broadline

Retail

—

2.2%

Amazon.com,

Inc.*

363,569

64,264,456

eBay,

Inc.

20,752

981,155

Etsy,

Inc.*

4,786

343,108

65,588,719

Building

Products

—

0.3%

A

O

Smith

Corp.

4,908

406,873

Allegion

plc

3,512

449,080

Builders

FirstSource,

Inc.*

4,930

962,237

Carrier

Global

Corp.

33,544

1,864,376

Johnson

Controls

International

plc

27,199

1,612,085

Masco

Corp.

8,974

688,844

Trane

Technologies

plc

9,128

2,573,822

8,557,317

Capital

Markets

—

1.6%

Ameriprise

Financial,

Inc.

4,048

1,648,993

Bank

of

New

York

Mellon

Corp.

(The)

30,749

1,724,711

BlackRock,

Inc.

5,593

4,537,825

Blackstone,

Inc.

28,405

3,630,727

Cboe

Global

Markets,

Inc.

4,220

810,240

Charles

Schwab

Corp.

(The)

59,492

3,972,876

CME

Group,

Inc.

14,388

3,170,396

FactSet

Research

Systems,

Inc.

1,520

703,121

Franklin

Resources,

Inc.

11,268

309,307

Goldman

Sachs

Group,

Inc.

(The)

13,038

5,072,434

Intercontinental

Exchange,

Inc.

22,885

3,167,742

Invesco

Ltd.

17,970

276,918

MarketAxess

Holdings,

Inc.

1,516

323,529

Moody's

Corp.

6,292

2,387,311

Morgan

Stanley

50,519

4,346,655

MSCI,

Inc.,

Class

a

A

3,162

1,773,787

Nasdaq,

Inc.

13,609

764,826

Northern

Trust

Corp.

8,279

679,954

Raymond

James

Financial,

Inc.

7,510

903,603

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRAPRO

S&P500

®

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

139

UPRO

::

Investments

Shares

Value

Common

Stocks

(continued)

S&P

Global,

Inc.

12,955

$

5,549,663

State

Street

Corp.

12,332

909,238

T.

Rowe

Price

Group,

Inc.

8,934

1,012,669

47,676,525

Chemicals

—

0.9%

Air

Products

and

Chemicals,

Inc.

8,882

2,078,743

Albemarle

Corp.

4,692

646,792

Celanese

Corp.,

Class

a

A

4,007

608,944

CF

Industries

Holdings,

Inc.

7,642

616,862

Corteva,

Inc.

28,171

1,507,712

Dow,

Inc.

28,037

1,566,708

DuPont

de

Nemours,

Inc.

17,192

1,189,514

Eastman

Chemical

Co.

4,740

415,888

Ecolab,

Inc.

10,143

2,280,552

FMC

Corp.

4,984

281,048

International

Flavors

&

Fragrances,

Inc.

10,202

770,251

Linde

plc

19,385

8,700,376

LyondellBasell

Industries

NV,

Class

a

A

10,248

1,027,669

Mosaic

Co.

(The)

13,067

407,168

PPG

Industries,

Inc.

9,427

1,334,863

Sherwin-Williams

Co.

(The)

9,415

3,126,062

26,559,152

Commercial

Services

&

Supplies

—

0.3%

Cintas

Corp.

3,464

2,177,505

Copart,

Inc.*

34,935

1,856,795

Republic

Services,

Inc.,

Class

a

A

8,179

1,501,664

Rollins,

Inc.

11,220

494,465

Veralto

Corp.

8,766

757,558

Waste

Management,

Inc.

14,653

3,013,390

9,801,377

Communications

Equipment

—

0.5%

Arista

Networks,

Inc.*

10,072

2,795,383

Cisco

Systems,

Inc.

161,910

7,831,587

F5,

Inc.*

2,391

447,643

Juniper

Networks,

Inc.

12,745

471,947

Motorola

Solutions,

Inc.

6,638

2,193,129

13,739,689

Construction

&

Engineering

—

0.0%(a)

Quanta

Services,

Inc.

5,808

1,402,690

Construction

Materials

—

0.1%

Martin

Marietta

Materials,

Inc.

2,473

1,428,677

Vulcan

Materials

Co.

5,311

1,411,929

2,840,606

Consumer

Finance

—

0.3%

American

Express

Co.

23,017

5,050,390

Capital

One

Financial

Corp.

15,225

2,095,112

Discover

Financial

Services

9,996

1,206,517

Synchrony

Financial

16,539

683,061

9,035,080

Investments

Shares

Value

Common

Stocks

(continued)

Consumer

Staples

Distribution

&

Retail

—

1.1%

Costco

Wholesale

Corp.

17,702

$

13,168,341

Dollar

General

Corp.

8,776

1,275,241

Dollar

Tree,

Inc.*

8,353

1,225,218

Kroger

Co.

(The)

26,453

1,312,333

Sysco

Corp.

20,154

1,631,869

Target

Corp.

18,453

2,821,833

Walgreens

Boots

Alliance,

Inc.

28,669

609,503

Walmart,

Inc.

171,095

10,027,878

32,072,216

Containers

&

Packaging

—

0.1%

Amcor

plc

57,780

523,487

Avery

Dennison

Corp.

3,218

696,793

Ball

Corp.

12,605

806,972

International

Paper

Co.

13,830

489,029

Packaging

Corp.

of

America

3,584

649,385

Westrock

Co.

10,254

464,404

3,630,070

Distributors

—

0.1%

Genuine

Parts

Co.

5,607

836,901

LKQ

Corp.

10,695

559,241

Pool

Corp.

1,547

615,892

2,012,034

Diversified

Telecommunication

Services

—

0.4%

AT&T,

Inc.

285,835

4,839,187

Verizon

Communications,

Inc.

168,068

6,726,081

11,565,268

Electric

Utilities

—

0.8%

Alliant

Energy

Corp.

10,198

486,955

American

Electric

Power

Co.,

Inc.

21,023

1,790,949

Constellation

Energy

Corp.

12,765

2,150,264

Duke

Energy

Corp.

30,814

2,829,650

Edison

International

15,321

1,042,134

Entergy

Corp.

8,453

858,571

Evergy,

Inc.

9,180

454,777

Eversource

Energy

13,968

819,922

Exelon

Corp.

39,797

1,426,324

FirstEnergy

Corp.

20,643

755,740

NextEra

Energy,

Inc.

82,020

4,526,684

NRG

Energy,

Inc.

9,024

499,208

PG&E

Corp.

85,288

1,423,457

Pinnacle

West

Capital

Corp.

4,536

309,945

PPL

Corp.

29,467

777,045

Southern

Co.

(The)

43,600

2,932,100

Xcel

Energy,

Inc.

22,060

1,162,341

24,246,066

Electrical

Equipment

—

0.4%

AMETEK,

Inc.

9,230

1,663,061

Eaton

Corp.

plc

15,960

4,612,440

Emerson

Electric

Co.

22,788

2,434,898

Generac

Holdings,

Inc.*

2,458

276,549

Hubbell,

Inc.,

Class

a

B

2,143

815,776

ULTRAPRO

S&P500

®

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

140

UPRO

::

Investments

Shares

Value

Common

Stocks

(continued)

Rockwell

Automation,

Inc.

4,586

$

1,307,377

11,110,101

Electronic

Equipment,

Instruments

&

Components

—

0.3%

Amphenol

Corp.,

Class

a

A

23,922

2,613,239

CDW

Corp.

5,354

1,318,208

Corning,

Inc.

30,693

989,542

Jabil,

Inc.

5,117

737,309

Keysight

Technologies,

Inc.*

7,103

1,095,993

TE

Connectivity

Ltd.

12,427

1,784,020

Teledyne

Technologies,

Inc.*

1,890

807,540

Trimble,

Inc.*

9,946

608,596

Zebra

Technologies

Corp.,

Class

a

A*

2,054

574,052

10,528,499

Energy

Equipment

&

Services

—

0.2%

Baker

Hughes

Co.,

Class

a

A

40,230

1,190,406

Halliburton

Co.

35,781

1,254,840

Schlumberger

NV

57,108

2,760,029

5,205,275

Entertainment

—

0.7%

Electronic

Arts,

Inc.

9,788

1,365,230

Live

Nation

Entertainment,

Inc.*

5,674

550,265

Netflix,

Inc.*

17,495

10,548,086

Take-Two

Interactive

Software,

Inc.*

6,323

929,038

Walt

Disney

Co.

(The)

73,147

8,161,742

Warner

Bros

Discovery,

Inc.*

88,714

779,796

22,334,157

Financial

Services

—

2.5%

Berkshire

Hathaway,

Inc.,

Class

a

B*

72,732

29,776,481

Fidelity

National

Information

Services,

Inc.

23,685

1,638,765

Fiserv,

Inc.*

23,996

3,581,883

FleetCor

Technologies,

Inc.*

2,883

805,135

Global

Payments,

Inc.

10,411

1,350,307

Jack

Henry

&

Associates,

Inc.

2,915

506,540

Mastercard,

Inc.,

Class

a

A

33,104

15,716,455

PayPal

Holdings,

Inc.*

43,100

2,600,654

Visa,

Inc.,

Class

a

A

63,721

18,010,103

73,986,323

Food

Products

—

0.5%

Archer-Daniels-Midland

Co.

21,326

1,132,624

Bunge

Global

SA

5,808

548,101

Campbell

Soup

Co.

7,853

334,852

Conagra

Brands,

Inc.

19,105

536,468

General

Mills,

Inc.

23,236

1,491,287

Hershey

Co.

(The)

5,989

1,125,453

Hormel

Foods

Corp.

11,578

408,935

J

M

Smucker

Co.

(The)

4,242

509,761

Kellanova

10,543

581,446

Kraft

Heinz

Co.

(The)

31,874

1,124,515

Lamb

Weston

Holdings,

Inc.

5,794

592,205

McCormick

&

Co.,

Inc.

(Non-Voting)

10,045

691,699

Investments

Shares

Value

Common

Stocks

(continued)

Mondelez

International,

Inc.,

Class

a

A

54,389

$

3,974,204

Tyson

Foods,

Inc.,

Class

a

A

11,405

618,607

13,670,157

Gas

Utilities

—

0.0%(a)

Atmos

Energy

Corp.

5,934

670,008

Ground

Transportation

—

0.7%

CSX

Corp.

78,997

2,997,146

JB

Hunt

Transport

Services,

Inc.

3,256

671,745

Norfolk

Southern

Corp.

9,039

2,290,302

Old

Dominion

Freight

Line,

Inc.

3,578

1,583,194

Uber

Technologies,

Inc.*

82,270

6,540,465

Union

Pacific

Corp.

24,367

6,181,664

20,264,516

Health

Care

Equipment

&

Supplies

—

1.5%

Abbott

Laboratories

69,374

8,230,531

Align

Technology,

Inc.*

2,844

860,083

Baxter

International,

Inc.

20,284

830,021

Becton

Dickinson

&

Co.

11,597

2,731,673

Boston

Scientific

Corp.*

58,532

3,875,404

Cooper

Cos.,

Inc.

(The)

7,919

741,219

DENTSPLY

SIRONA,

Inc.

8,469

276,767

Dexcom,

Inc.*

15,443

1,777,026

Edwards

Lifesciences

Corp.*

24,245

2,057,673

GE

HealthCare

Technologies,

Inc.

16,204

1,479,101

Hologic,

Inc.*

9,795

722,871

IDEXX

Laboratories,

Inc.*

3,319

1,909,188

Insulet

Corp.*

2,789

457,396

Intuitive

Surgical,

Inc.*

14,076

5,427,706

Medtronic

plc

53,189

4,433,835

ResMed,

Inc.

5,879

1,021,300

STERIS

plc

3,954

920,926

Stryker

Corp.

13,519

4,719,077

Teleflex,

Inc.

1,882

419,291

Zimmer

Biomet

Holdings,

Inc.

8,355

1,039,028

43,930,116

Health

Care

Providers

&

Services

—

1.5%

Cardinal

Health,

Inc.

9,855

1,103,563

Cencora,

Inc.

6,667

1,570,745

Centene

Corp.*

21,359

1,675,186

Cigna

Group

(The)

11,696

3,931,493

CVS

Health

Corp.

51,348

3,818,751

DaVita,

Inc.*

2,153

273,366

Elevance

Health,

Inc.

9,394

4,708,742

HCA

Healthcare,

Inc.

7,918

2,468,041

Henry

Schein,

Inc.*

5,221

399,250

Humana,

Inc.

4,919

1,723,224

Laboratory

Corp.

of

America

Holdings

3,390

731,664

McKesson

Corp.

5,318

2,772,858

Molina

Healthcare,

Inc.*

2,327

916,629

Quest

Diagnostics,

Inc.

4,498

561,755

UnitedHealth

Group,

Inc.

36,973

18,249,873

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRAPRO

S&P500

®

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

141

UPRO

::

Investments

Shares

Value

Common

Stocks

(continued)

Universal

Health

Services,

Inc.,

Class

a

B

2,442

$

407,961

45,313,101

Health

Care

REITs

—

0.1%

Healthpeak

Properties,

Inc.,

REIT

28,003

469,050

Ventas,

Inc.,

REIT

16,089

680,404

Welltower,

Inc.,

REIT

22,125

2,039,040

3,188,494

Hotel

&

Resort

REITs

—

0.0%(a)

Host

Hotels

&

Resorts,

Inc.,

REIT

28,204

584,951

Hotels,

Restaurants

&

Leisure

—

1.2%

Airbnb,

Inc.,

Class

a

A*

17,379

2,736,671

Booking

Holdings,

Inc.*

1,398

4,849,424

Caesars

Entertainment,

Inc.*

8,620

374,712

Carnival

Corp.*

40,279

638,825

Chipotle

Mexican

Grill,

Inc.,

Class

a

A*

1,096

2,946,892

Darden

Restaurants,

Inc.

4,809

820,944

Domino's

Pizza,

Inc.

1,397

626,345

Expedia

Group,

Inc.*

5,329

729,114

Hilton

Worldwide

Holdings,

Inc.

10,256

2,095,506

Las

Vegas

Sands

Corp.

14,757

804,552

Marriott

International,

Inc.,

Class

a

A

9,864

2,464,718

McDonald's

Corp.

28,995

8,474,659

MGM

Resorts

International*

10,926

472,877

Norwegian

Cruise

Line

Holdings

Ltd.*

17,004

329,708

Royal

Caribbean

Cruises

Ltd.*

9,424

1,162,450

Starbucks

Corp.

45,678

4,334,842

Wynn

Resorts

Ltd.

3,836

403,547

Yum!

Brands,

Inc.

11,203

1,550,719

35,816,505

Household

Durables

—

0.2%

DR

Horton,

Inc.

12,048

1,800,453

Garmin

Ltd.

6,122

840,857

Lennar

Corp.,

Class

a

A

10,000

1,585,100

Mohawk

Industries,

Inc.*

2,113

250,644

NVR,

Inc.*

125

953,196

PulteGroup,

Inc.

8,616

933,802

Whirlpool

Corp.

2,191

235,292

6,599,344

Household

Products

—

0.7%

Church

&

Dwight

Co.,

Inc.

9,852

986,382

Clorox

Co.

(The)

4,954

759,498

Colgate-Palmolive

Co.

32,919

2,848,152

Kimberly-Clark

Corp.

13,512

1,637,249

Procter

&

Gamble

Co.

(The)

94,218

14,975,009

21,206,290

Independent

Power

and

Renewable

Electricity

Producers

—

0.0%(a)

AES

Corp.

(The)

26,770

406,904

Investments

Shares

Value

Common

Stocks

(continued)

Industrial

Conglomerates

—

0.5%

3M

Co.

22,080

$

2,034,009

General

Electric

Co.

43,512

6,826,598

Honeywell

International,

Inc.

26,353

5,237,132

14,097,739

Industrial

REITs

—

0.2%

Prologis,

Inc.,

REIT

36,935

4,922,327

Insurance

—

1.2%

Aflac,

Inc.

21,255

1,716,129

Allstate

Corp.

(The)

10,462

1,668,898

American

International

Group,

Inc.

28,062

2,045,439

Aon

plc,

Class

a

A

8,002

2,528,552

Arch

Capital

Group

Ltd.*

14,915

1,306,405

Arthur

J

Gallagher

&

Co.

8,628

2,104,628

Assurant,

Inc.

2,102

381,408

Brown

&

Brown,

Inc.

9,443

795,195

Chubb

Ltd.

16,310

4,104,738

Cincinnati

Financial

Corp.

6,273

715,122

Everest

Group

Ltd.

1,733

639,269

Globe

Life,

Inc.

3,428

435,116

Hartford

Financial

Services

Group,

Inc.

(The)

12,025

1,152,476

Loews

Corp.

7,319

549,876

Marsh

&

McLennan

Cos.,

Inc.

19,715

3,987,753

MetLife,

Inc.

24,854

1,733,318

Principal

Financial

Group,

Inc.

8,771

709,223

Progressive

Corp.

(The)

23,392

4,434,187

Prudential

Financial,

Inc.

14,428

1,572,508

Travelers

Cos.,

Inc.

(The)

9,128

2,016,923

W

R

Berkley

Corp.

8,148

681,173

Willis

Towers

Watson

plc

4,129

1,125,607

36,403,943

Interactive

Media

&

Services

—

3.5%

Alphabet,

Inc.,

Class

a

A*

236,598

32,759,359

Alphabet,

Inc.,

Class

a

C*

199,115

27,832,295

Match

Group,

Inc.*

10,869

391,719

Meta

Platforms,

Inc.,

Class

a

A

88,734

43,491,195

104,474,568

IT

Services

—

0.7%

Accenture

plc,

Class

a

A

25,092

9,403,980

Akamai

Technologies,

Inc.*

6,026

668,404

Cognizant

Technology

Solutions

Corp.,

Class

a

A

20,044

1,583,877

EPAM

Systems,

Inc.*

2,304

701,338

Gartner,

Inc.*

3,117

1,451,150

International

Business

Machines

Corp.

36,502

6,753,965

VeriSign,

Inc.*

3,553

693,865

21,256,579

Leisure

Products

—

0.0%(a)

Hasbro,

Inc.

5,214

262,212

ULTRAPRO

S&P500

®

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

142

UPRO

::

Investments

Shares

Value

Common

Stocks

(continued)

Life

Sciences

Tools

&

Services

—

0.8%

Agilent

Technologies,

Inc.

11,695

$

1,606,425

Bio-Rad

Laboratories,

Inc.,

Class

a

A*

840

273,739

Bio-Techne

Corp.

6,322

465,109

Charles

River

Laboratories

International,

Inc.*

2,051

521,344

Danaher

Corp.

26,290

6,655,051

Illumina,

Inc.*

6,348

887,641

IQVIA

Holdings,

Inc.*

7,321

1,809,458

Mettler-Toledo

International,

Inc.*

870

1,085,081

Revvity,

Inc.

4,930

540,279

Thermo

Fisher

Scientific,

Inc.

15,443

8,805,290

Waters

Corp.*

2,368

799,011

West

Pharmaceutical

Services,

Inc.

2,961

1,061,104

24,509,532

Machinery

—

1.0%

Caterpillar,

Inc.

20,395

6,811,114

Cummins,

Inc.

5,668

1,522,481

Deere

&

Co.

10,704

3,907,495

Dover

Corp.

5,595

925,301

Fortive

Corp.

14,051

1,196,162

IDEX

Corp.

3,025

713,597

Illinois

Tool

Works,

Inc.

10,947

2,869,756

Ingersoll

Rand,

Inc.

16,184

1,478,085

Nordson

Corp.

2,164

574,867

Otis

Worldwide

Corp.

16,360

1,559,108

PACCAR,

Inc.

20,914

2,319,098

Parker-Hannifin

Corp.

5,138

2,751,142

Pentair

plc

6,612

514,347

Snap-on,

Inc.

2,110

581,643

Stanley

Black

&

Decker,

Inc.

6,132

547,526

Westinghouse

Air

Brake

Technologies

Corp.

7,165

1,012,343

Xylem,

Inc.

9,635

1,224,127

30,508,192

Media

—

0.3%

Charter

Communications,

Inc.,

Class

a

A*

4,024

1,182,774

Comcast

Corp.,

Class

a

A

160,536

6,878,968

Fox

Corp.,

Class

a

A

9,885

294,474

Fox

Corp.,

Class

a

B

5,274

144,402

Interpublic

Group

of

Cos.,

Inc.

(The)

15,308

480,671

News

Corp.,

Class

a

A

15,215

408,979

News

Corp.,

Class

a

B

4,592

128,530

Omnicom

Group,

Inc.

7,913

699,430

Paramount

Global,

Class

a

B(b)

19,289

212,951

10,431,179

Metals

&

Mining

—

0.2%

Freeport-McMoRan,

Inc.

57,325

2,167,458

Newmont

Corp.

46,075

1,439,844

Nucor

Corp.

9,830

1,890,309

Investments

Shares

Value

Common

Stocks

(continued)

Steel

Dynamics,

Inc.

6,084

$

814,161

6,311,772

Multi-Utilities

—

0.3%

Ameren

Corp.

10,512

748,349

CenterPoint

Energy,

Inc.

25,234

693,935

CMS

Energy

Corp.

11,662

669,049

Consolidated

Edison,

Inc.

13,799

1,203,411

Dominion

Energy,

Inc.

33,455

1,600,152

DTE

Energy

Co.

8,245

893,346

NiSource,

Inc.

16,517

430,433

Public

Service

Enterprise

Group,

Inc.

19,922

1,243,133

Sempra

25,163

1,776,508

WEC

Energy

Group,

Inc.

12,610

989,759

10,248,075

Office

REITs

—

0.0%(a)

Alexandria

Real

Estate

Equities,

Inc.,

REIT

6,253

779,936

Boston

Properties,

Inc.,

REIT

5,772

373,564

1,153,500

Oil,

Gas

&

Consumable

Fuels

—

1.9%

APA

Corp.

12,259

365,196

Chevron

Corp.

70,187

10,669,126

ConocoPhillips

47,466

5,341,824

Coterra

Energy,

Inc.

30,068

775,153

Devon

Energy

Corp.

25,615

1,128,597

Diamondback

Energy,

Inc.

7,158

1,306,478

EOG

Resources,

Inc.

23,310

2,668,063

EQT

Corp.

16,441

610,783

Exxon

Mobil

Corp.

160,136

16,737,415

Hess

Corp.

11,051

1,610,683

Kinder

Morgan,

Inc.

77,307

1,344,369

Marathon

Oil

Corp.

23,400

567,450

Marathon

Petroleum

Corp.

15,180

2,568,911

Occidental

Petroleum

Corp.

26,394

1,599,740

ONEOK,

Inc.

23,286

1,749,244

Phillips

66

17,584

2,505,896

Pioneer

Natural

Resources

Co.

9,329

2,194,087

Targa

Resources

Corp.

8,914

875,711

Valero

Energy

Corp.

13,611

1,925,412

Williams

Cos.,

Inc.

(The)

48,635

1,747,942

58,292,080

Passenger

Airlines

—

0.1%

American

Airlines

Group,

Inc.*

26,129

409,703

Delta

Air

Lines,

Inc.

25,724

1,087,353

Southwest

Airlines

Co.

23,828

816,586

United

Airlines

Holdings,

Inc.*

13,112

596,465

2,910,107

Personal

Care

Products

—

0.1%

Estee

Lauder

Cos.,

Inc.

(The),

Class

a

A

9,289

1,380,160

Kenvue,

Inc.

68,899

1,309,081

2,689,241

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRAPRO

S&P500

®

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

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UPRO

::

Investments

Shares

Value

Common

Stocks

(continued)

Pharmaceuticals

—

2.2%

Bristol-Myers

Squibb

Co.

81,345

$

4,128,259

Catalent,

Inc.*

7,209

413,364

Eli

Lilly

&

Co.

31,881

24,028,072

Johnson

&

Johnson

96,234

15,530,243

Merck

&

Co.,

Inc.

101,304

12,880,804

Pfizer,

Inc.

225,729

5,995,362

Viatris,

Inc.

47,957

593,228

Zoetis,

Inc.,

Class

a

A

18,354

3,640,149

67,209,481

Professional

Services

—

0.4%

Automatic

Data

Processing,

Inc.

16,440

4,128,577

Broadridge

Financial

Solutions,

Inc.

4,704

957,640

Dayforce,

Inc.*

6,237

435,093

Equifax,

Inc.

4,923

1,346,884

Jacobs

Solutions,

Inc.

5,037

738,676

Leidos

Holdings,

Inc.

5,493

702,335

Paychex,

Inc.

12,849

1,575,545

Paycom

Software,

Inc.

1,963

358,032

Robert

Half,

Inc.

4,233

340,333

Verisk

Analytics,

Inc.,

Class

a

A

5,797

1,402,294

11,985,409

Real

Estate

Management

&

Development

—

0.1%

CBRE

Group,

Inc.,

Class

a

A*

12,183

1,119,496

CoStar

Group,

Inc.*

16,324

1,420,678

2,540,174

Residential

REITs

—

0.1%

AvalonBay

Communities,

Inc.,

REIT

5,679

1,005,353

Camden

Property

Trust,

REIT

4,267

403,146

Equity

Residential,

REIT

13,812

831,621

Essex

Property

Trust,

Inc.,

REIT

2,567

594,004

Invitation

Homes,

Inc.,

REIT

22,998

783,542

Mid-America

Apartment

Communities,

Inc.,

REIT

4,666

586,423

UDR,

Inc.,

REIT

12,097

429,443

4,633,532

Retail

REITs

—

0.2%

Federal

Realty

Investment

Trust,

REIT

2,940

296,499

Kimco

Realty

Corp.,

REIT

26,588

525,379

Realty

Income

Corp.,

REIT

33,243

1,732,293

Regency

Centers

Corp.,

REIT

6,571

407,073

Simon

Property

Group,

Inc.,

REIT

13,043

1,932,190

4,893,434

Semiconductors

&

Semiconductor

Equipment

—

5.6%

Advanced

Micro

Devices,

Inc.*

64,590

12,435,608

Analog

Devices,

Inc.

19,922

3,821,438

Applied

Materials,

Inc.

33,446

6,743,382

Broadcom,

Inc.

17,544

22,815,797

Enphase

Energy,

Inc.*

5,456

692,967

Investments

Shares

Value

Common

Stocks

(continued)

First

Solar,

Inc.*

4,270

$

657,110

Intel

Corp.

168,544

7,255,819

KLA

Corp.

5,431

3,705,571

Lam

Research

Corp.

5,268

4,942,701

Microchip

Technology,

Inc.

21,628

1,819,780

Micron

Technology,

Inc.

43,900

3,977,779

Monolithic

Power

Systems,

Inc.

1,918

1,381,037

NVIDIA

Corp.

98,743

78,117,562

NXP

Semiconductors

NV

10,308

2,574,217

ON

Semiconductor

Corp.*

17,220

1,359,002

Qorvo,

Inc.*

3,888

445,370

QUALCOMM,

Inc.

44,497

7,021,182

Skyworks

Solutions,

Inc.

6,371

668,445

Teradyne,

Inc.

6,115

633,453

Texas

Instruments,

Inc.

36,306

6,075,083

167,143,303

Software

—

6.3%

Adobe,

Inc.*

18,204

10,199,337

ANSYS,

Inc.*

3,473

1,160,573

Autodesk,

Inc.*

8,543

2,205,546

Cadence

Design

Systems,

Inc.*

10,879

3,311,350

Fair

Isaac

Corp.*

989

1,255,941

Fortinet,

Inc.*

25,484

1,761,199

Gen

Digital,

Inc.

22,541

484,406

Intuit,

Inc.

11,201

7,425,031

Microsoft

Corp.

297,151

122,913,540

Oracle

Corp.

63,518

7,093,690

Palo

Alto

Networks,

Inc.*

12,428

3,859,515

PTC,

Inc.*

4,750

869,298

Roper

Technologies,

Inc.

4,269

2,325,452

Salesforce,

Inc.*

38,897

12,012,172

ServiceNow,

Inc.*

8,198

6,323,445

Synopsys,

Inc.*

6,083

3,490,000

Tyler

Technologies,

Inc.*

1,681

734,832

187,425,327

Specialized

REITs

—

0.6%

American

Tower

Corp.,

REIT

18,632

3,705,159

Crown

Castle,

Inc.,

REIT

17,350

1,907,459

Digital

Realty

Trust,

Inc.,

REIT

12,107

1,777,429

Equinix,

Inc.,

REIT

3,752

3,334,853

Extra

Space

Storage,

Inc.,

REIT

8,446

1,190,633

Iron

Mountain,

Inc.,

REIT

11,671

917,807

Public

Storage,

REIT

6,326

1,795,762

SBA

Communications

Corp.,

Class

a

A,

REIT

4,311

901,990

VICI

Properties,

Inc.,

Class

a

A,

REIT

41,360

1,237,905

Weyerhaeuser

Co.,

REIT

29,187

1,003,449

17,772,446

Specialty

Retail

—

1.2%

AutoZone,

Inc.*

702

2,110,226

Bath

&

Body

Works,

Inc.

9,088

415,322

Best

Buy

Co.,

Inc.

7,746

626,497

CarMax,

Inc.*

6,342

501,018

Home

Depot,

Inc.

(The)

39,979

15,216,407

Lowe's

Cos.,

Inc.

23,072

5,552,738

O'Reilly

Automotive,

Inc.*

2,369

2,576,098

ULTRAPRO

S&P500

®

::

FEBRUARY

29,

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INVESTMENTS

PROSHARES

TRUST

144

UPRO

::

Investments

Shares

Value

Common

Stocks

(continued)

Ross

Stores,

Inc.

13,539

$

2,016,770

TJX

Cos.,

Inc.

(The)

45,736

4,534,267

Tractor

Supply

Co.

4,320

1,098,662

Ulta

Beauty,

Inc.*

1,970

1,080,663

35,728,668

Technology

Hardware,

Storage

&

Peripherals

—

3.7%

Apple,

Inc.

584,450

105,639,337

Hewlett

Packard

Enterprise

Co.

51,288

781,116

HP,

Inc.

34,766

984,921

NetApp,

Inc.

8,348

743,974

Seagate

Technology

Holdings

plc

7,777

723,650

Western

Digital

Corp.*

12,965

771,029

109,644,027

Textiles,

Apparel

&

Luxury

Goods

—

0.3%

Lululemon

Athletica,

Inc.*

4,605

2,150,950

NIKE,

Inc.,

Class

a

B

48,931

5,085,399

Ralph

Lauren

Corp.,

Class

a

A

1,589

295,427

Tapestry,

Inc.

9,159

435,327

VF

Corp.

13,213

215,900

8,183,003

Tobacco

—

0.3%

Altria

Group,

Inc.

70,708

2,892,664

Philip

Morris

International,

Inc.

62,059

5,582,828

8,475,492

Trading

Companies

&

Distributors

—

0.2%

Fastenal

Co.

22,839

1,667,475

United

Rentals,

Inc.

2,708

1,877,375

WW

Grainger,

Inc.

1,763

1,716,210

5,261,060

Water

Utilities

—

0.0%(a)

American

Water

Works

Co.,

Inc.

7,785

922,834

Wireless

Telecommunication

Services

—

0.1%

T-Mobile

US,

Inc.

20,344

3,322,175

Total

Common

Stocks

(Cost

$1,779,058,930)

1,710,625,275

Securities

Lending

Reinvestments

(c)

—

0

.0

%

(a)

Investment

Companies

—

0

.0

%

(a)

Invesco

Government

&

Agency

Portfolio,

Institutional

Class

5.25%

(d)

(Cost

$12,133)

12,133

12,133

Investments

Principal

Amount

Value

Short-Term

Investments

—

16

.1

%

Repurchase

Agreements

(e)

—

3

.0

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$88,911,415

(Cost

$88,898,336)

$

88,898,336

$

88,898,336

U.S.

Treasury

Obligations

(f)

—

13

.1

%

U.S.

Treasury

Bills

5.29%,

3/5/2024

(g)

25,000,000

24,985,373

5.39%,

5/9/2024

(g)

100,000,000

98,994,229

5.30%,

6/18/2024

(g)

50,000,000

49,206,647

5.11%,

7/18/2024

(g)

50,000,000

49,008,467

5.13%,

7/25/2024

(g)

75,000,000

73,439,625

5.25%,

8/8/2024

(g)

100,000,000

97,721,556

Total

U.S.

Treasury

Obligations

(Cost

$393,429,255)

393,355,897

Total

Short-Term

Investments

(Cost

$482,327,591)

482,254,233

Total

Investments

—

73.2%

(Cost

$2,261,398,654)

2,192,891,641

Other

assets

less

liabilities

—

26.8%

801,784,059

Net

Assets

—

100.0%

$

2,994,675,700

*

Non-income

producing

security.

(a)

Represents

less

than

0.05%

of

net

assets.

(b)

The

security

or

a

portion

of

this

security

is

on

loan

at

February

29,

2024.

The

total

value

of

securities

on

loan

at

February

29,

2024

was

$11,647,

collateralized

in

the

form

of

cash

with

a

value

of

$12,133

that

was

reinvested

in

the

securities

shown

in

the

Securities

Lending

Reinvestment

section

of

the

Schedule

of

Portfolio

Investments.

(c)

The

security

was

purchased

with

cash

collateral

held

from

securities

on

loan

at

February

29,

2024.

The

total

value

of

securities

purchased

was

$12,133.

(d)

Rate

shown

is

the

7-day

yield

as

of

February

29,

2024.

(e)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

(f)

All

or

a

portion

of

these

securities

are

segregated

in

connection

with

obligations

for

swaps

with

a

total

value

of

$235,308,203.

(g)

The

rate

shown

was

the

current

yield

as

of

February

29,

2024.

Futures

Contracts

Purchased

UltraPro

S&P500

®

had

the

following

open

long

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

AAAAAA

Expiration

Date

AAAAAA

Trading

Currency

AA

Notional

Amount

AAAAAA

Value

and

Unrealized

Appreciation

AAAAAA

S&P

500

E-Mini

Index

695

3/15/2024

U.S.

Dollar

$

177,355,313

$

15,807,317

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRAPRO

S&P500

®

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

145

UPRO

::

Swap

Agreements

UltraPro

S&P500

®

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

($)

718,518,011

12/8/2025

Bank

of

America

NA

5.93%

S&P

500

®

5,040,625

1,163,442,767

12/8/2025

BNP

Paribas

SA

5.93%

S&P

500

®

10,802,345

1,083,900,185

3/6/2025

Citibank

NA

5.93%

S&P

500

®

123,116,564

1,188,139,292

11/6/2025

Goldman

Sachs

International

5.93%

S&P

500

®

49,862,848

434,390,766

4/7/2025

J.P.

Morgan

Securities

5.83%

S&P

500

®

50,503,147

459,484,799

3/6/2025

Morgan

Stanley

&

Co.

International

plc

5.88%

S&P

500

®

86,261,074

1,073,152,152

11/6/2025

Societe

Generale

5.98%

S&P

500

®

39,824,676

974,656,541

4/7/2025

UBS

AG

5.83%

S&P

500

®

11,808,586

7,095,684,513

377,219,865

Total

Unrealized

Appreciation

377,219,865

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRAPRO

SHORT

20+

YEAR

TREASURY

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

146

TTT

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

11

.4

%

Repurchase

Agreements

(a)

—

11

.4

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$4,770,461

(Cost

$4,769,758)

$

4,769,758

$

4,769,758

Total

Investments

—

11.4%

(Cost

$4,769,758)

4,769,758

Other

assets

less

liabilities

—

88.6%

37,153,010

Net

Assets

—

100.0%

$

41,922,768

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Futures

Contracts

Sold

UltraPro

Short

20+

Year

Treasury

had

the

following

open

short

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

A

Expiration

Date

A

Trading

Currency

A

Notional

Amount

A

Value

and

Unrealized

Depreciation

A

U.S.

Treasury

Long

Bond

12

6/18/2024

U.S.

Dollar

$

1,431,375

$

(

3,773

)

Swap

Agreements

UltraPro

Short

20+

Year

Treasury

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

/

(Depreciation)

($)

(5,205,747)

11/6/2024

Bank

of

America

NA

(5.03)%

ICE

U.S.

Treasury

20+

Year

Bond

Index

8,230,347

(47,713,439)

12/10/2024

Barclays

Capital

(5.11)%

ICE

U.S.

Treasury

20+

Year

Bond

Index

803,490

(33,052,949)

12/10/2024

Citibank

NA

(4.88)%

ICE

U.S.

Treasury

20+

Year

Bond

Index

1,122,992

(384,712)

11/6/2024

Goldman

Sachs

International

(4.91)%

ICE

U.S.

Treasury

20+

Year

Bond

Index

8,199,534

(7,116,690)

12/10/2024

Morgan

Stanley

&

Co.

International

plc

(5.16)%

ICE

U.S.

Treasury

20+

Year

Bond

Index

10,395,424

(5,812,123)

12/10/2024

Societe

Generale

(5.01)%

ICE

U.S.

Treasury

20+

Year

Bond

Index

(

205,243

)

(25,793,509)

12/10/2024

UBS

AG

(4.88)%

ICE

U.S.

Treasury

20+

Year

Bond

Index

27,615

(125,079,169)

28,574,159

Total

Unrealized

Appreciation

28,779,402

Total

Unrealized

Depreciation

(

205,243

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRAPRO

SHORT

DOW30

~

SM

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

147

SDOW

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

125

.9

%

Repurchase

Agreements

(a)

—

22

.3

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$87,695,636

(Cost

$87,682,738)

$

87,682,738

$

87,682,738

U.S.

Treasury

Obligations

(b)

—

103

.6

%

U.S.

Treasury

Bills

5.29%,

3/5/2024

(c)

25,000,000

24,985,374

5.32%,

3/12/2024

(c)

75,000,000

74,879,138

5.44%,

3/21/2024

(c)

50,000,000

49,853,194

5.46%,

3/28/2024

(c)

75,000,000

74,703,281

5.29%,

4/11/2024

(c)

50,000,000

49,699,618

5.39%,

5/9/2024

(c)

35,000,000

34,647,980

4.91%,

7/11/2024

(c)

100,000,000

98,114,600

Total

U.S.

Treasury

Obligations

(Cost

$407,017,501)

406,883,185

Total

Short-Term

Investments

(Cost

$494,700,239)

494,565,923

Total

Investments

—

125.9%

(Cost

$494,700,239)

494,565,923

Liabilities

in

excess

of

other

assets

—

(25.9%)

(

101,868,138

)

Net

Assets

—

100.0%

$

392,697,785

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

(b)

All

or

a

portion

of

these

securities

are

segregated

in

connection

with

obligations

for

swaps

with

a

total

value

of

$225,616,509.

(c)

The

rate

shown

was

the

current

yield

as

of

February

29,

2024.

Futures

Contracts

Sold

UltraPro

Short

Dow30

SM

had

the

following

open

short

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

A

Expiration

Date

A

Trading

Currency

A

Notional

Amount

A

Value

and

Unrealized

Depreciation

A

DJIA

CBOT

E-Mini

Index

48

3/15/2024

U.S.

Dollar

$

9,370,320

$

(

139,804

)

ULTRAPRO

SHORT

DOW30

~

SM

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

148

SDOW

::

Swap

Agreements

UltraPro

Short

Dow30

SM

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(94,839,221)

3/6/2025

Bank

of

America

NA

(5.78)%

Dow

Jones

Industrial

Average

SM

(

11,254,672

)

(89,028,758)

11/6/2025

Barclays

Capital

(5.53)%

Dow

Jones

Industrial

Average

SM

(

17,000,750

)

(175,756,730)

2/11/2025

BNP

Paribas

SA

(5.63)%

Dow

Jones

Industrial

Average

SM

(

14,273,180

)

(190,029,408)

3/6/2025

Citibank

NA

(5.63)%

Dow

Jones

Industrial

Average

SM

(

22,078,415

)

(130,559,914)

11/7/2024

Goldman

Sachs

International

(5.68)%

Dow

Jones

Industrial

Average

SM

(

34,171,781

)

(141,790,874)

3/6/2025

Morgan

Stanley

&

Co.

International

plc

(5.13)%

Dow

Jones

Industrial

Average

SM

(

15,325,922

)

(215,065,091)

3/6/2025

Societe

Generale

(5.63)%

Dow

Jones

Industrial

Average

SM

(

20,399,232

)

(131,719,237)

11/7/2024

UBS

AG

(5.18)%

Dow

Jones

Industrial

Average

SM

(

31,264,330

)

(1,168,789,233)

(

165,768,282

)

Total

Unrealized

Depreciation

(

165,768,282

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRAPRO

SHORT

MIDCAP400

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

149

MZZ

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

77

.4

%

Repurchase

Agreements

(a)

—

77

.4

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$2,389,426

(Cost

$2,389,078)

$

2,389,078

$

2,389,078

Total

Investments

—

77.4%

(Cost

$2,389,078)

2,389,078

Other

assets

less

liabilities

—

22.6%

699,022

Net

Assets

—

100.0%

$

3,088,100

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Futures

Contracts

Sold

UltraPro

Short

MidCap400

had

the

following

open

short

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

A

Expiration

Date

A

Trading

Currency

A

Notional

Amount

A

Value

and

Unrealized

Depreciation

A

S&P

Midcap

400

E-Mini

Index

1

3/15/2024

U.S.

Dollar

$

289,260

$

(

24,327

)

Swap

Agreements

UltraPro

Short

MidCap400

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

/

(Depreciation)

($)

(1,546,508)

3/6/2024

Bank

of

America

NA

(5.68)%

S&P

MidCap

400

®

(

647,711

)

(1,121,580)

2/11/2025

BNP

Paribas

SA

(5.53)%

S&P

MidCap

400

®

(

489,651

)

(2,714,339)

4/8/2024

Citibank

NA

(5.53)%

S&P

MidCap

400

®

(

1,375,048

)

(3,069,892)

3/6/2025

Morgan

Stanley

&

Co.

International

plc

(5.13)%

S&P

MidCap

400

®

(

508,116

)

(523,211)

11/14/2024

Societe

Generale

(5.31)%

S&P

MidCap

400

®

339,138

(8,975,530)

(

2,681,388

)

Total

Unrealized

Appreciation

339,138

Total

Unrealized

Depreciation

(

3,020,526

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRAPRO

SHORT

QQQ

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

150

SQQQ

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

163

.2

%

Repurchase

Agreements

(a)

—

7

.9

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$265,071,264

(Cost

$265,032,274)

$

265,032,274

$

265,032,274

U.S.

Treasury

Obligations

(b)

—

155

.3

%

U.S.

Treasury

Bills

5.32%,

3/5/2024

(c)

175,000,000

174,897,615

5.28%,

3/7/2024

(c)

100,000,000

99,912,354

5.30%,

3/12/2024

(c)

250,000,000

249,597,125

5.42%,

3/14/2024

(c)

250,000,000

249,524,372

5.44%,

3/21/2024

(c)

200,000,000

199,412,778

5.46%,

3/28/2024

(c)

120,000,000

119,525,250

5.38%,

4/4/2024

(c)

310,000,000

308,453,646

5.29%,

4/11/2024

(c)

400,000,000

397,596,944

5.32%,

4/25/2024

(c)

150,000,000

148,789,885

5.31%,

5/2/2024

(c)

200,000,000

198,186,328

5.28%,

5/9/2024

(c)

135,000,000

133,642,209

5.30%,

5/21/2024

(c)

500,000,000

494,121,310

5.30%,

5/23/2024

(c)

300,000,000

296,378,778

5.28%,

5/28/2024

(c)

500,000,000

493,594,945

5.29%,

6/11/2024

(c)

200,000,000

197,031,800

5.20%,

6/13/2024

(c)

200,000,000

196,986,888

5.30%,

6/18/2024

(c)

150,000,000

147,619,940

5.17%,

7/5/2024

(c)

160,000,000

157,116,000

4.91%,

7/11/2024

(c)

100,000,000

98,114,600

5.11%,

7/18/2024

(c)

100,000,000

98,016,933

5.13%,

7/25/2024

(c)

100,000,000

97,919,500

5.20%,

8/8/2024

(c)

700,000,000

684,050,892

Total

U.S.

Treasury

Obligations

(Cost

$5,241,198,761)

5,240,490,092

Total

Short-Term

Investments

(Cost

$5,506,231,035)

5,505,522,366

Total

Investments

—

163.2%

(Cost

$5,506,231,035)

5,505,522,366

Liabilities

in

excess

of

other

assets

—

(63.2%)

(

2,131,560,176

)

Net

Assets

—

100.0%

$

3,373,962,190

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

(b)

All

or

a

portion

of

these

securities

are

segregated

in

connection

with

obligations

for

swaps

with

a

total

value

of

$3,142,311,204.

(c)

The

rate

shown

was

the

current

yield

as

of

February

29,

2024.

Futures

Contracts

Sold

UltraPro

Short

QQQ

had

the

following

open

short

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

A

Expiration

Date

A

Trading

Currency

A

Notional

Amount

A

Value

and

Unrealized

Depreciation

A

Nasdaq

100

E-Mini

Index

312

3/15/2024

U.S.

Dollar

$

112,836,360

$

(

2,809,194

)

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRAPRO

SHORT

QQQ

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

151

SQQQ

::

Swap

Agreements

UltraPro

Short

QQQ

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(1,188,115,347)

3/6/2025

Bank

of

America

NA

(5.68)%

Nasdaq-100

Index

®

(

136,771,131

)

(739,202,403)

11/6/2025

Barclays

Capital

(5.53)%

Nasdaq-100

Index

®

(

214,351,947

)

(1,075,196,934)

11/14/2024

BNP

Paribas

SA

(5.73)%

Nasdaq-100

Index

®

(

675,581,275

)

(1,381,888,252)

11/6/2025

Citibank

NA

(5.68)%

Nasdaq-100

Index

®

(

194,872,417

)

(1,135,878,401)

3/13/2025

Goldman

Sachs

International

(5.68)%

Nasdaq-100

Index

®

(

223,172,445

)

(1,112,042,475)

4/7/2025

J.P.

Morgan

Securities

(5.63)%

Nasdaq-100

Index

®

(

101,738,622

)

(877,562,645)

4/10/2025

Morgan

Stanley

&

Co.

International

plc

(5.13)%

Nasdaq-100

Index

®

(

147,080,402

)

(1,336,742,540)

11/6/2025

Societe

Generale

(5.98)%

Nasdaq-100

Index

®

(

256,535,843

)

(1,162,596,002)

11/6/2025

UBS

AG

(5.48)%

Nasdaq-100

Index

®

(

228,225,814

)

(10,009,224,999)

(

2,178,329,896

)

Total

Unrealized

Depreciation

(

2,178,329,896

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRAPRO

SHORT

RUSSELL2000

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

152

SRTY

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

129

.9

%

Repurchase

Agreements

(a)

—

29

.5

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$36,497,745

(Cost

$36,492,376)

$

36,492,376

$

36,492,376

U.S.

Treasury

Obligations

(b)

—

100

.4

%

U.S.

Treasury

Bills

5.32%,

3/12/2024

(c)

25,000,000

24,959,712

5.31%,

4/2/2024

(c)

50,000,000

49,764,667

5.30%,

5/21/2024

(c)

50,000,000

49,412,131

Total

U.S.

Treasury

Obligations

(Cost

$124,138,422)

124,136,510

Total

Short-Term

Investments

(Cost

$160,630,798)

160,628,886

Total

Investments

—

129.9%

(Cost

$160,630,798)

160,628,886

Liabilities

in

excess

of

other

assets

—

(29.9%)

(

36,940,486

)

Net

Assets

—

100.0%

$

123,688,400

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

(b)

All

or

a

portion

of

these

securities

are

segregated

in

connection

with

obligations

for

swaps

with

a

total

value

of

$63,525,503.

(c)

The

rate

shown

was

the

current

yield

as

of

February

29,

2024.

Futures

Contracts

Sold

UltraPro

Short

Russell2000

had

the

following

open

short

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

A

Expiration

Date

A

Trading

Currency

A

Notional

Amount

A

Value

and

Unrealized

Depreciation

A

Russell

2000

E-Mini

Index

107

3/15/2024

U.S.

Dollar

$

11,006,555

$

(

83,082

)

Swap

Agreements

UltraPro

Short

Russell2000

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(48,481,895)

11/14/2024

Bank

of

America

NA

(5.08)%

Russell

2000

®

Index

(

8,509,132

)

(40,011,845)

11/6/2025

Barclays

Capital

(5.43)%

Russell

2000

®

Index

(

9,137,189

)

(33,504,166)

11/14/2024

BNP

Paribas

SA

(5.23)%

Russell

2000

®

Index

(

12,569,160

)

(47,051,726)

11/6/2025

Citibank

NA

(5.14)%

Russell

2000

®

Index

(

9,929,778

)

(31,034,249)

11/6/2025

Goldman

Sachs

International

(5.33)%

Russell

2000

®

Index

(

8,766,297

)

(36,574,097)

3/6/2024

Morgan

Stanley

&

Co.

International

plc

(5.03)%

Russell

2000

®

Index

(

2,887,588

)

(72,852,297)

3/6/2024

Societe

Generale

(5.18)%

Russell

2000

®

Index

(

10,858,228

)

(50,559,449)

11/6/2025

UBS

AG

(4.83)%

Russell

2000

®

Index

(

12,749,810

)

(360,069,724)

(

75,407,182

)

Total

Unrealized

Depreciation

(

75,407,182

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRAPRO

SHORT

S&P500

®

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

153

SPXU

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

192

.7

%

Repurchase

Agreements

(a)

—

16

.5

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$105,097,974

(Cost

$105,082,514)

$

105,082,514

$

105,082,514

U.S.

Treasury

Obligations

(b)

—

176

.2

%

U.S.

Treasury

Bills

5.29%,

3/5/2024

(c)

75,000,000

74,956,120

5.29%,

3/12/2024

(c)

100,000,000

99,838,850

5.42%,

3/14/2024

(c)

100,000,000

99,809,749

5.44%,

3/21/2024

(c)

75,000,000

74,779,792

5.46%,

3/28/2024

(c)

50,000,000

49,802,187

5.31%,

4/2/2024

(c)

50,000,000

49,764,667

5.29%,

4/4/2024

(c)

30,000,000

29,850,353

5.29%,

4/11/2024

(c)

50,000,000

49,699,618

5.32%,

4/25/2024

(c)

50,000,000

49,596,628

5.31%,

5/2/2024

(c)

50,000,000

49,546,582

5.32%,

5/9/2024

(c)

100,000,000

98,994,229

5.30%,

5/21/2024

(c)

50,000,000

49,412,131

5.30%,

5/23/2024

(c)

50,000,000

49,396,463

5.29%,

6/11/2024

(c)

50,000,000

49,257,950

5.30%,

6/18/2024

(c)

75,000,000

73,809,970

5.17%,

7/5/2024

(c)

30,000,000

29,459,250

5.11%,

7/18/2024

(c)

50,000,000

49,008,467

5.13%,

7/25/2024

(c)

50,000,000

48,959,750

5.25%,

8/8/2024

(c)

50,000,000

48,860,778

Total

U.S.

Treasury

Obligations

(Cost

$1,124,908,751)

1,124,803,534

Total

Short-Term

Investments

(Cost

$1,229,991,265)

1,229,886,048

Total

Investments

—

192.7%

(Cost

$1,229,991,265)

1,229,886,048

Liabilities

in

excess

of

other

assets

—

(92.7%)

(

591,685,496

)

Net

Assets

—

100.0%

$

638,200,552

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

(b)

All

or

a

portion

of

these

securities

are

segregated

in

connection

with

obligations

for

swaps

with

a

total

value

of

$700,420,866.

(c)

The

rate

shown

was

the

current

yield

as

of

February

29,

2024.

Futures

Contracts

Sold

UltraPro

Short

S&P500

®

had

the

following

open

short

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

A

Expiration

Date

A

Trading

Currency

A

Notional

Amount

A

Value

and

Unrealized

Depreciation

A

S&P

500

E-Mini

Index

256

3/15/2024

U.S.

Dollar

$

65,328,000

$

(

2,773,496

)

ULTRAPRO

SHORT

S&P500

®

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

154

SPXU

::

Swap

Agreements

UltraPro

Short

S&P500

®

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(242,867,843)

3/6/2025

Bank

of

America

NA

(5.63)%

S&P

500

®

(

56,353,212

)

(260,990,179)

3/6/2024

BNP

Paribas

SA

(5.63)%

S&P

500

®

(

89,950,057

)

(289,009,472)

4/8/2024

Citibank

NA

(5.58)%

S&P

500

®

(

165,851,088

)

(113,891,442)

11/7/2024

Goldman

Sachs

International

(5.68)%

S&P

500

®

(

109,029,019

)

(250,716,099)

4/7/2025

J.P.

Morgan

Securities

(5.53)%

S&P

500

®

(

32,393,019

)

(235,870,664)

4/10/2025

Morgan

Stanley

&

Co.

International

plc

(5.13)%

S&P

500

®

(

18,989,490

)

(217,508,804)

11/14/2024

Societe

Generale

(5.68)%

S&P

500

®

(

78,539,517

)

(238,446,768)

11/7/2024

UBS

AG

(5.48)%

S&P

500

®

(

73,461,024

)

(1,849,301,271)

(

624,566,426

)

Total

Unrealized

Depreciation

(

624,566,426

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRASHORT

7-10

YEAR

TREASURY

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

155

PST

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

79

.9

%

Repurchase

Agreements

(a)

—

79

.9

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$16,921,687

(Cost

$16,919,197)

$

16,919,197

$

16,919,197

Total

Investments

—

79.9%

(Cost

$16,919,197)

16,919,197

Other

assets

less

liabilities

—

20.1%

4,253,872

Net

Assets

—

100.0%

$

21,173,069

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Futures

Contracts

Sold

UltraShort

7-10

Year

Treasury

had

the

following

open

short

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

A

Expiration

Date

A

Trading

Currency

A

Notional

Amount

A

Value

and

Unrealized

Depreciation

A

U.S.

Treasury

10

Year

Note

5

6/18/2024

U.S.

Dollar

$

552,500

$

(

1,181

)

Swap

Agreements

UltraShort

7-10

Year

Treasury

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

/

(Depreciation)

($)

(12,061,829)

11/6/2024

Bank

of

America

NA

(4.84)%

ICE

U.S.

Treasury

7-10

Year

Bond

Index

149,426

(10,273,629)

11/6/2024

Citibank

NA

(4.86)%

ICE

U.S.

Treasury

7-10

Year

Bond

Index

(

469,363

)

(7,746,818)

11/6/2024

Goldman

Sachs

International

(5.11)%

ICE

U.S.

Treasury

7-10

Year

Bond

Index

139,663

(11,831,645)

11/6/2024

Societe

Generale

(5.05)%

ICE

U.S.

Treasury

7-10

Year

Bond

Index

2,364,679

(41,913,921)

2,184,405

Total

Unrealized

Appreciation

2,653,768

Total

Unrealized

Depreciation

(

469,363

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRASHORT

20+

YEAR

TREASURY

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

156

TBT

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

112

.9

%

Repurchase

Agreements

(a)

—

21

.0

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$68,056,728

(Cost

$68,046,719)

$

68,046,719

$

68,046,719

U.S.

Treasury

Obligations

(b)

—

91

.9

%

U.S.

Treasury

Bills

5.42%,

3/14/2024

(c)

25,000,000

24,952,437

5.44%,

3/21/2024

(c)

75,000,000

74,779,792

5.46%,

3/28/2024

(c)

75,000,000

74,703,281

5.37%,

4/18/2024

(c)

25,000,000

24,824,500

5.32%,

5/9/2024

(c)

50,000,000

49,497,115

5.30%,

5/21/2024

(c)

50,000,000

49,412,131

Total

U.S.

Treasury

Obligations

(Cost

$298,172,458)

298,169,256

Total

Short-Term

Investments

(Cost

$366,219,177)

366,215,975

Total

Investments

—

112.9%

(Cost

$366,219,177)

366,215,975

Liabilities

in

excess

of

other

assets

—

(12.9%)

(

41,980,765

)

Net

Assets

—

100.0%

$

324,235,210

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

(b)

All

or

a

portion

of

these

securities

are

segregated

in

connection

with

obligations

for

swaps

with

a

total

value

of

$83,115,135.

(c)

The

rate

shown

was

the

current

yield

as

of

February

29,

2024.

Futures

Contracts

Sold

UltraShort

20+

Year

Treasury

had

the

following

open

short

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

A

Expiration

Date

A

Trading

Currency

A

Notional

Amount

A

Value

and

Unrealized

Depreciation

A

U.S.

Treasury

Long

Bond

77

6/18/2024

U.S.

Dollar

$

9,184,656

$

(

24,208

)

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRASHORT

20+

YEAR

TREASURY

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

157

TBT

::

Swap

Agreements

UltraShort

20+

Year

Treasury

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

/

(Depreciation)

($)

(108,154,704)

12/10/2024

Bank

of

America

NA

(5.03)%

ICE

U.S.

Treasury

20+

Year

Bond

Index

(

26,808,447

)

(130,733,842)

11/6/2024

Barclays

Capital

(5.11)%

ICE

U.S.

Treasury

20+

Year

Bond

Index

(

1,024,995

)

(91,556,239)

12/10/2024

Citibank

NA

(4.88)%

ICE

U.S.

Treasury

20+

Year

Bond

Index

2,528,030

(141,832,715)

12/10/2024

Goldman

Sachs

International

(4.91)%

ICE

U.S.

Treasury

20+

Year

Bond

Index

(

24,699,114

)

(128,076,619)

11/6/2024

Morgan

Stanley

&

Co.

International

plc

(5.16)%

ICE

U.S.

Treasury

20+

Year

Bond

Index

15,613,862

(44,409,149)

12/10/2024

Societe

Generale

(5.01)%

ICE

U.S.

Treasury

20+

Year

Bond

Index

(

8,691,253

)

(644,763,268)

(

43,081,917

)

Total

Unrealized

Appreciation

18,141,892

Total

Unrealized

Depreciation

(

61,223,809

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRASHORT

CONSUMER

DISCRETIONARY

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

158

SCC

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

118

.6

%

Repurchase

Agreements

(a)

—

118

.6

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$1,484,044

(Cost

$1,483,827)

$

1,483,827

$

1,483,827

Total

Investments

—

118.6%

(Cost

$1,483,827)

1,483,827

Liabilities

in

excess

of

other

assets

—

(18.6%)

(

233,046

)

Net

Assets

—

100.0%

$

1,250,781

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

UltraShort

Consumer

Discretionary

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(629,403)

3/6/2025

BNP

Paribas

SA

(5.63)%

S&P

Consumer

Discretionary

Select

Sector

Index

c

(

489,161

)

(528,848)

3/6/2025

Goldman

Sachs

International

(5.43)%

S&P

Consumer

Discretionary

Select

Sector

Index

c

(

289,517

)

(906,862)

3/6/2025

Societe

Generale

(5.43)%

S&P

Consumer

Discretionary

Select

Sector

Index

c

(

386,591

)

(439,465)

3/6/2025

UBS

AG

(5.08)%

S&P

Consumer

Discretionary

Select

Sector

Index

c

(

115,977

)

(2,504,578)

(

1,281,246

)

Total

Unrealized

Depreciation

(

1,281,246

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

c

See

the

Common

Stocks

section

of

the

Schedule

of

Portfolio

Investments

of

ProShares

Ultra

Consumer

Discretionary

for

the

components

of

the

underlying

reference

instrument

and

their

relative

weightings.

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRASHORT

CONSUMER

STAPLES

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

159

SZK

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

125

.8

%

Repurchase

Agreements

(a)

—

125

.8

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$1,108,730

(Cost

$1,108,568)

$

1,108,568

$

1,108,568

Total

Investments

—

125.8%

(Cost

$1,108,568)

1,108,568

Liabilities

in

excess

of

other

assets

—

(25.8%)

(

227,482

)

Net

Assets

—

100.0%

$

881,086

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

UltraShort

Consumer

Staples

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(451,313)

3/6/2025

Bank

of

America

NA

(5.18)%

S&P

Consumer

Staples

Select

Sector

Index

c

(

71,801

)

(305,874)

3/6/2025

Goldman

Sachs

International

(5.43)%

S&P

Consumer

Staples

Select

Sector

Index

c

(

7,168

)

(569,015)

3/6/2025

Societe

Generale

(5.43)%

S&P

Consumer

Staples

Select

Sector

Index

c

(

141,126

)

(431,821)

3/6/2025

UBS

AG

(5.08)%

S&P

Consumer

Staples

Select

Sector

Index

c

(

98,917

)

(1,758,023)

(

319,012

)

Total

Unrealized

Depreciation

(

319,012

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

c

See

the

Common

Stocks

section

of

the

Schedule

of

Portfolio

Investments

of

ProShares

Ultra

Consumer

Staples

for

the

components

of

the

underlying

reference

instrument

and

their

relative

weightings.

ULTRASHORT

DOW30

~

SM

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

160

DXD

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

98

.2

%

Repurchase

Agreements

(a)

—

65

.9

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$50,972,868

(Cost

$50,965,372)

$

50,965,372

$

50,965,372

U.S.

Treasury

Obligations

(b)

—

32

.3

%

U.S.

Treasury

Bills

5.32%,

3/12/2024

(c)

(Cost

$24,959,716)

25,000,000

24,959,713

Total

Short-Term

Investments

(Cost

$75,925,088)

75,925,085

Total

Investments

—

98.2%

(Cost

$75,925,088)

75,925,085

Other

assets

less

liabilities

—

1.8%

1,409,783

Net

Assets

—

100.0%

$

77,334,868

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

(b)

All

or

a

portion

of

these

securities

are

segregated

in

connection

with

obligations

for

swaps

with

a

total

value

of

$7,973,115.

(c)

The

rate

shown

was

the

current

yield

as

of

February

29,

2024.

Futures

Contracts

Sold

UltraShort

Dow30

SM

had

the

following

open

short

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

A

Expiration

Date

A

Trading

Currency

A

Notional

Amount

A

Value

and

Unrealized

Depreciation

A

DJIA

CBOT

E-Mini

Index

15

3/15/2024

U.S.

Dollar

$

2,928,225

$

(

77,171

)

Swap

Agreements

UltraShort

Dow30

SM

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(18,055,328)

3/6/2024

Bank

of

America

NA

(5.78)%

Dow

Jones

Industrial

Average

SM

(

1,986,842

)

(20,473,105)

11/6/2025

Barclays

Capital

(5.53)%

Dow

Jones

Industrial

Average

SM

(

1,719,108

)

(21,136,043)

2/11/2025

BNP

Paribas

SA

(5.63)%

Dow

Jones

Industrial

Average

SM

(

3,679,931

)

(31,587,076)

3/6/2025

Citibank

NA

(5.63)%

Dow

Jones

Industrial

Average

SM

(

4,651,743

)

(26,414,712)

11/7/2024

Goldman

Sachs

International

(5.68)%

Dow

Jones

Industrial

Average

SM

(

4,195,771

)

(19,030,238)

11/14/2024

Societe

Generale

(5.63)%

Dow

Jones

Industrial

Average

SM

(

1,528,756

)

(15,028,897)

11/7/2024

UBS

AG

(5.18)%

Dow

Jones

Industrial

Average

SM

(

4,842,007

)

(151,725,399)

(

22,604,158

)

Total

Unrealized

Depreciation

(

22,604,158

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRASHORT

ENERGY

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

161

DUG

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

142

.5

%

Repurchase

Agreements

(a)

—

43

.6

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$6,070,198

(Cost

$6,069,303)

$

6,069,303

$

6,069,303

U.S.

Treasury

Obligations

(b)

—

98

.9

%

U.S.

Treasury

Bills

5.30%,

5/9/2024

(c)

7,000,000

6,929,596

5.08%,

8/8/2024

(c)

7,000,000

6,840,509

Total

U.S.

Treasury

Obligations

(Cost

$13,775,858)

13,770,105

Total

Short-Term

Investments

(Cost

$19,845,161)

19,839,408

Total

Investments

—

142.5%

(Cost

$19,845,161)

19,839,408

Liabilities

in

excess

of

other

assets

—

(42.5%)

(

5,916,031

)

Net

Assets

—

100.0%

$

13,923,377

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

(b)

All

or

a

portion

of

these

securities

are

segregated

in

connection

with

obligations

for

swaps

with

a

total

value

of

$7,479,162.

(c)

The

rate

shown

was

the

current

yield

as

of

February

29,

2024.

Swap

Agreements

UltraShort

Energy

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(5,090,122)

3/6/2025

Bank

of

America

NA

(5.03)%

S&P

Energy

Select

Sector

Index

c

(

1,280,197

)

(10,856,227)

3/6/2025

BNP

Paribas

SA

(5.63)%

S&P

Energy

Select

Sector

Index

c

(

2,278,587

)

(4,439,342)

3/6/2025

Goldman

Sachs

International

(5.43)%

S&P

Energy

Select

Sector

Index

c

(

711,334

)

(4,455,544)

3/6/2025

Societe

Generale

(5.43)%

S&P

Energy

Select

Sector

Index

c

(

1,114,346

)

(3,008,168)

3/6/2025

UBS

AG

(5.13)%

S&P

Energy

Select

Sector

Index

c

(

491,896

)

(27,849,403)

(

5,876,360

)

Total

Unrealized

Depreciation

(

5,876,360

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

c

See

the

Common

Stocks

section

of

the

Schedule

of

Portfolio

Investments

of

ProShares

Ultra

Energy

for

the

components

of

the

underlying

reference

instrument

and

their

relative

weightings.

ULTRASHORT

FINANCIALS

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

162

SKF

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

165

.2

%

Repurchase

Agreements

(a)

—

39

.2

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$6,724,331

(Cost

$6,723,343)

$

6,723,343

$

6,723,343

U.S.

Treasury

Obligations

(b)

—

126

.0

%

U.S.

Treasury

Bills

5.30%,

5/9/2024

(c)

10,000,000

9,899,423

5.08%,

8/8/2024

(c)

12,000,000

11,726,587

Total

U.S.

Treasury

Obligations

(Cost

$21,635,797)

21,626,010

Total

Short-Term

Investments

(Cost

$28,359,140)

28,349,353

Total

Investments

—

165.2%

(Cost

$28,359,140)

28,349,353

Liabilities

in

excess

of

other

assets

—

(65.2%)

(

11,186,581

)

Net

Assets

—

100.0%

$

17,162,772

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

(b)

All

or

a

portion

of

these

securities

are

segregated

in

connection

with

obligations

for

swaps

with

a

total

value

of

$11,895,125.

(c)

The

rate

shown

was

the

current

yield

as

of

February

29,

2024.

Swap

Agreements

UltraShort

Financials

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(11,747,239)

3/6/2025

Bank

of

America

NA

(5.43)%

S&P

Financial

Select

Sector

Index

c

(

2,835,189

)

(8,222,868)

3/6/2025

BNP

Paribas

SA

(5.63)%

S&P

Financial

Select

Sector

Index

c

(

2,023,087

)

(837,386)

4/7/2025

Citibank

NA

(5.28)%

S&P

Financial

Select

Sector

Index

c

(

168,791

)

(5,809,052)

3/6/2025

Goldman

Sachs

International

(5.43)%

S&P

Financial

Select

Sector

Index

c

(

1,384,598

)

(4,383,113)

3/6/2025

Societe

Generale

(5.63)%

S&P

Financial

Select

Sector

Index

c

(

2,618,858

)

(3,327,689)

3/6/2025

UBS

AG

(5.43)%

S&P

Financial

Select

Sector

Index

c

(

2,119,471

)

(34,327,347)

(

11,149,994

)

Total

Unrealized

Depreciation

(

11,149,994

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

c

See

the

Common

Stocks

section

of

the

Schedule

of

Portfolio

Investments

of

ProShares

Ultra

Financials

for

the

components

of

the

underlying

reference

instrument

and

their

relative

weightings.

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRASHORT

FTSE

CHINA

50

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

163

FXP

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

47

.9

%

Repurchase

Agreements

(a)

—

47

.9

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$8,596,880

(Cost

$8,595,614)

$

8,595,614

$

8,595,614

Total

Investments

—

47.9%

(Cost

$8,595,614)

8,595,614

Other

assets

less

liabilities

—

52.1%

9,332,115

Net

Assets

—

100.0%

$

17,927,729

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

a

UltraShort

FTSE

China

50

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

b

Counterparty

Rate

Paid

(Received)

c

Reference

Instrument

Value

and

Unrealized

Appreciation

/

(Depreciation)

($)

(10,607,715)

3/6/2025

Bank

of

America

NA

(3.83)%

iShares

®

China

Large-Cap

ETF

(

120,356

)

(431,752)

11/14/2024

Citibank

NA

(2.58)%

iShares

®

China

Large-Cap

ETF

1,494,839

(16,033,348)

3/6/2025

Goldman

Sachs

International

(4.83)%

iShares

®

China

Large-Cap

ETF

(

1,654,707

)

(1,087,552)

11/14/2024

Morgan

Stanley

&

Co.

International

plc

(4.78)%

iShares

®

China

Large-Cap

ETF

282,454

(690,593)

11/14/2024

Societe

Generale

(3.88)%

iShares

®

China

Large-Cap

ETF

981,728

(6,872,715)

11/13/2025

UBS

AG

(3.58)%

iShares

®

China

Large-Cap

ETF

(

889,169

)

(35,723,675)

94,789

Total

Unrealized

Appreciation

2,759,021

Total

Unrealized

Depreciation

(

2,664,232

)

a

In

order

to

facilitate

the

daily

valuation

of

these

swap

transactions

as

of

close

of

business

New

York

time,

one

or

more

financial

products

traded

on

a

U.S.

exchange

are

used

as

the

reference

entity

as

a

surrogate

for

the

respective

underlying

index

for

the

purposes

of

both

daily

valuation

calculation

as

well

as

final

settlement

of

the

swap.

b

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

c

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRASHORT

FTSE

EUROPE

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

164

EPV

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

87

.2

%

Repurchase

Agreements

(a)

—

87

.2

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$26,084,129

(Cost

$26,080,291)

$

26,080,291

$

26,080,291

Total

Investments

—

87.2%

(Cost

$26,080,291)

26,080,291

Other

assets

less

liabilities

—

12.8%

3,840,899

Net

Assets

—

100.0%

$

29,921,190

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

a

UltraShort

FTSE

Europe

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

b

Counterparty

Rate

Paid

(Received)

c

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(8,832,201)

11/14/2024

Citibank

NA

(4.53)%

Vanguard

®

FTSE

Europe

ETF

Shares

(

465,176

)

(22,017,181)

3/6/2025

Goldman

Sachs

International

(1.83)%

Vanguard

®

FTSE

Europe

ETF

Shares

(

13,360,820

)

(393,705)

11/14/2024

Morgan

Stanley

&

Co.

International

plc

(4.78)%

Vanguard

®

FTSE

Europe

ETF

Shares

(

17,370

)

(20,406,570)

11/14/2024

Societe

Generale

(4.58)%

Vanguard

®

FTSE

Europe

ETF

Shares

(

1,957,390

)

(8,199,185)

4/10/2024

UBS

AG

(2.58)%

Vanguard

®

FTSE

Europe

ETF

Shares

(

1,718,797

)

(59,848,842)

(

17,519,553

)

Total

Unrealized

Depreciation

(

17,519,553

)

a

In

order

to

facilitate

the

daily

valuation

of

these

swap

transactions

as

of

close

of

business

New

York

time,

one

or

more

financial

products

traded

on

a

U.S.

exchange

are

used

as

the

reference

entity

as

a

surrogate

for

the

respective

underlying

index

for

the

purposes

of

both

daily

valuation

calculation

as

well

as

final

settlement

of

the

swap.

b

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

c

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRASHORT

HEALTH

CARE

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

165

RXD

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

129

.3

%

Repurchase

Agreements

(a)

—

129

.3

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$1,395,351

(Cost

$1,395,146)

$

1,395,146

$

1,395,146

Total

Investments

—

129.3%

(Cost

$1,395,146)

1,395,146

Liabilities

in

excess

of

other

assets

—

(29.3%)

(

316,474

)

Net

Assets

—

100.0%

$

1,078,672

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

UltraShort

Health

Care

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(560,046)

3/6/2025

Bank

of

America

NA

(5.38)%

S&P

Health

Care

Select

Sector

Index

c

(

81,404

)

(381,650)

3/6/2025

BNP

Paribas

SA

(5.63)%

S&P

Health

Care

Select

Sector

Index

c

(

154,814

)

(112,594)

4/7/2025

Citibank

NA

(5.13)%

S&P

Health

Care

Select

Sector

Index

c

(

8,661

)

(232,499)

3/6/2025

Goldman

Sachs

International

(5.43)%

S&P

Health

Care

Select

Sector

Index

c

(

61,495

)

(538,112)

3/6/2025

Societe

Generale

(5.53)%

S&P

Health

Care

Select

Sector

Index

c

(

164,991

)

(329,008)

3/6/2025

UBS

AG

(5.08)%

S&P

Health

Care

Select

Sector

Index

c

(

143,261

)

(2,153,909)

(

614,626

)

Total

Unrealized

Depreciation

(

614,626

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

c

See

the

Common

Stocks

section

of

the

Schedule

of

Portfolio

Investments

of

ProShares

Ultra

Health

Care

for

the

components

of

the

underlying

reference

instrument

and

their

relative

weightings.

ULTRASHORT

INDUSTRIALS

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

166

SIJ

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

123

.9

%

Repurchase

Agreements

(a)

—

123

.9

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$1,958,606

(Cost

$1,958,319)

$

1,958,319

$

1,958,319

Total

Investments

—

123.9%

(Cost

$1,958,319)

1,958,319

Liabilities

in

excess

of

other

assets

—

(23.9%)

(

378,095

)

Net

Assets

—

100.0%

$

1,580,224

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

UltraShort

Industrials

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(640,963)

3/6/2025

Bank

of

America

NA

(5.23)%

S&P

Industrials

Select

Sector

Index

c

(

231,688

)

(1,376,973)

3/6/2025

BNP

Paribas

SA

(5.63)%

S&P

Industrials

Select

Sector

Index

c

(

563,521

)

(201,062)

3/6/2025

Goldman

Sachs

International

(5.43)%

S&P

Industrials

Select

Sector

Index

c

(

77,328

)

(644,618)

3/6/2025

Societe

Generale

(5.43)%

S&P

Industrials

Select

Sector

Index

c

(

325,032

)

(293,673)

3/6/2025

UBS

AG

(5.08)%

S&P

Industrials

Select

Sector

Index

c

(

101,770

)

(3,157,289)

(

1,299,339

)

Total

Unrealized

Depreciation

(

1,299,339

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

c

See

the

Common

Stocks

section

of

the

Schedule

of

Portfolio

Investments

of

ProShares

Ultra

Industrials

for

the

components

of

the

underlying

reference

instrument

and

their

relative

weightings.

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRASHORT

MATERIALS

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

167

SMN

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

108

.2

%

Repurchase

Agreements

(a)

—

108

.2

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$1,153,334

(Cost

$1,153,164)

$

1,153,164

$

1,153,164

Total

Investments

—

108.2%

(Cost

$1,153,164)

1,153,164

Liabilities

in

excess

of

other

assets

—

(8.2%)

(

87,102

)

Net

Assets

—

100.0%

$

1,066,062

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

UltraShort

Materials

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(368,821)

3/6/2025

Bank

of

America

NA

(4.93)%

S&P

Materials

Select

Sector

Index

c

(

80,474

)

(837,047)

3/6/2025

BNP

Paribas

SA

(5.63)%

S&P

Materials

Select

Sector

Index

c

(

284,251

)

(311,222)

3/6/2025

Goldman

Sachs

International

(5.43)%

S&P

Materials

Select

Sector

Index

c

(

47,463

)

(279,635)

3/6/2025

Societe

Generale

(5.43)%

S&P

Materials

Select

Sector

Index

c

(

158,130

)

(335,376)

3/6/2025

UBS

AG

(5.08)%

S&P

Materials

Select

Sector

Index

c

(

130,893

)

(2,132,101)

(

701,211

)

Total

Unrealized

Depreciation

(

701,211

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

c

See

the

Common

Stocks

section

of

the

Schedule

of

Portfolio

Investments

of

ProShares

Ultra

Materials

for

the

components

of

the

underlying

reference

instrument

and

their

relative

weightings.

ULTRASHORT

MIDCAP400

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

168

MZZ

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

122

.1

%

Repurchase

Agreements

(a)

—

122

.1

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$1,987,616

(Cost

$1,987,322)

$

1,987,322

$

1,987,322

Total

Investments

—

122.1%

(Cost

$1,987,322)

1,987,322

Liabilities

in

excess

of

other

assets

—

(22.1%)

(

359,120

)

Net

Assets

—

100.0%

$

1,628,202

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Futures

Contracts

Sold

UltraShort

MidCap400

had

the

following

open

short

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

A

Expiration

Date

A

Trading

Currency

A

Notional

Amount

A

Value

and

Unrealized

Depreciation

A

S&P

Midcap

400

E-Mini

Index

1

3/15/2024

U.S.

Dollar

$

289,260

$

(

24,327

)

Swap

Agreements

UltraShort

MidCap400

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(326,646)

2/11/2025

Bank

of

America

NA

(5.68)%

S&P

MidCap

400

®

(

193,249

)

(659,073)

2/11/2025

BNP

Paribas

SA

(5.53)%

S&P

MidCap

400

®

(

154,892

)

(404,694)

11/6/2025

Citibank

NA

(5.53)%

S&P

MidCap

400

®

(

86,442

)

(1,081,110)

3/6/2024

Morgan

Stanley

&

Co.

International

plc

(5.13)%

S&P

MidCap

400

®

(

205,565

)

(494,304)

11/14/2024

Societe

Generale

(5.31)%

S&P

MidCap

400

®

(

16,022

)

(2,965,827)

(

656,170

)

Total

Unrealized

Depreciation

(

656,170

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRASHORT

MSCI

BRAZIL

CAPPED

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

169

BZQ

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

77

.1

%

Repurchase

Agreements

(a)

—

77

.1

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$5,242,263

(Cost

$5,241,491)

$

5,241,491

$

5,241,491

Total

Investments

—

77.1%

(Cost

$5,241,491)

5,241,491

Other

assets

less

liabilities

—

22.9%

1,558,535

Net

Assets

—

100.0%

$

6,800,026

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

a

UltraShort

MSCI

Brazil

Capped

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

b

Counterparty

Rate

Paid

(Received)

c

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(1,015,626)

4/10/2024

Bank

of

America

NA

(3.83)%

iShares

®

MSCI

Brazil

Capped

ETF

(

220,468

)

(4,565,845)

11/14/2024

Citibank

NA

(5.13)%

iShares

®

MSCI

Brazil

Capped

ETF

(

2,044,234

)

(1,529,911)

3/6/2025

Goldman

Sachs

International

(3.33)%

iShares

®

MSCI

Brazil

Capped

ETF

(

1,414,450

)

(2,000,827)

11/14/2024

Morgan

Stanley

&

Co.

International

plc

(4.78)%

iShares

®

MSCI

Brazil

Capped

ETF

(

372,095

)

(1,077,193)

11/14/2024

Societe

Generale

(4.48)%

iShares

®

MSCI

Brazil

Capped

ETF

(

621,047

)

(3,409,028)

3/6/2025

UBS

AG

(4.58)%

iShares

®

MSCI

Brazil

Capped

ETF

(

1,204,759

)

(13,598,430)

(

5,877,053

)

Total

Unrealized

Depreciation

(

5,877,053

)

a

In

order

to

facilitate

the

daily

valuation

of

these

swap

transactions

as

of

close

of

business

New

York

time,

one

or

more

financial

products

traded

on

a

U.S.

exchange

are

used

as

the

reference

entity

as

a

surrogate

for

the

respective

underlying

index

for

the

purposes

of

both

daily

valuation

calculation

as

well

as

final

settlement

of

the

swap.

b

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

c

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRASHORT

MSCI

EAFE

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

170

EFU

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

156

.1

%

Repurchase

Agreements

(a)

—

156

.1

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$1,105,193

(Cost

$1,105,031)

$

1,105,031

$

1,105,031

Total

Investments

—

156.1%

(Cost

$1,105,031)

1,105,031

Liabilities

in

excess

of

other

assets

—

(56.1%)

(

397,034

)

Net

Assets

—

100.0%

$

707,997

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

a

UltraShort

MSCI

EAFE

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

b

Counterparty

Rate

Paid

(Received)

c

Reference

Instrument

Value

and

Unrealized

Appreciation

/

(Depreciation)

($)

(119,103)

11/14/2024

Citibank

NA

(4.93)%

iShares

®

MSCI

EAFE

ETF

(

69,035

)

(152,696)

11/14/2024

Goldman

Sachs

International

(5.38)%

iShares

®

MSCI

EAFE

ETF

16,977

(326,770)

11/14/2024

Societe

Generale

(4.73)%

iShares

®

MSCI

EAFE

ETF

(

213,377

)

(823,031)

4/10/2024

UBS

AG

(4.93)%

iShares

®

MSCI

EAFE

ETF

(

681,825

)

(1,421,600)

(

947,260

)

Total

Unrealized

Appreciation

16,977

Total

Unrealized

Depreciation

(

964,237

)

a

In

order

to

facilitate

the

daily

valuation

of

these

swap

transactions

as

of

close

of

business

New

York

time,

one

or

more

financial

products

traded

on

a

U.S.

exchange

are

used

as

the

reference

entity

as

a

surrogate

for

the

respective

underlying

index

for

the

purposes

of

both

daily

valuation

calculation

as

well

as

final

settlement

of

the

swap.

b

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

c

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRASHORT

MSCI

EMERGING

MARKETS

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

171

EEV

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

83

.3

%

Repurchase

Agreements

(a)

—

83

.3

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$5,025,724

(Cost

$5,024,983)

$

5,024,983

$

5,024,983

Total

Investments

—

83.3%

(Cost

$5,024,983)

5,024,983

Other

assets

less

liabilities

—

16.7%

1,008,354

Net

Assets

—

100.0%

$

6,033,337

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

a

UltraShort

MSCI

Emerging

Markets

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

b

Counterparty

Rate

Paid

(Received)

c

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(2,656,377)

11/14/2024

Citibank

NA

(4.78)%

iShares

®

MSCI

Emerging

Markets

ETF

(

33,255

)

(2,079,718)

11/14/2024

Goldman

Sachs

International

(4.83)%

iShares

®

MSCI

Emerging

Markets

ETF

(

199,869

)

(2,075,555)

11/14/2024

Societe

Generale

(3.83)%

iShares

®

MSCI

Emerging

Markets

ETF

(

222,473

)

(5,253,422)

3/6/2025

UBS

AG

(4.23)%

iShares

®

MSCI

Emerging

Markets

ETF

(

212,111

)

(12,065,072)

(

667,708

)

Total

Unrealized

Depreciation

(

667,708

)

a

In

order

to

facilitate

the

daily

valuation

of

these

swap

transactions

as

of

close

of

business

New

York

time,

one

or

more

financial

products

traded

on

a

U.S.

exchange

are

used

as

the

reference

entity

as

a

surrogate

for

the

respective

underlying

index

for

the

purposes

of

both

daily

valuation

calculation

as

well

as

final

settlement

of

the

swap.

b

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

c

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRASHORT

MSCI

JAPAN

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

172

EWV

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

90

.0

%

Repurchase

Agreements

(a)

—

90

.0

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$3,622,183

(Cost

$3,621,651)

$

3,621,651

$

3,621,651

Total

Investments

—

90.0%

(Cost

$3,621,651)

3,621,651

Other

assets

less

liabilities

—

10.0%

401,896

Net

Assets

—

100.0%

$

4,023,547

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

a

UltraShort

MSCI

Japan

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

b

Counterparty

Rate

Paid

(Received)

c

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(3,906,480)

4/10/2024

Bank

of

America

NA

(4.88)%

iShares

®

MSCI

Japan

ETF

(

1,268,864

)

(1,302,304)

11/14/2024

Morgan

Stanley

&

Co.

International

plc

(4.78)%

iShares

®

MSCI

Japan

ETF

(

192,500

)

(1,675,535)

11/14/2024

Societe

Generale

(4.38)%

iShares

®

MSCI

Japan

ETF

(

471,075

)

(1,190,174)

11/14/2024

UBS

AG

(4.68)%

iShares

®

MSCI

Japan

ETF

(

360,866

)

(8,074,493)

(

2,293,305

)

Total

Unrealized

Depreciation

(

2,293,305

)

a

In

order

to

facilitate

the

daily

valuation

of

these

swap

transactions

as

of

close

of

business

New

York

time,

one

or

more

financial

products

traded

on

a

U.S.

exchange

are

used

as

the

reference

entity

as

a

surrogate

for

the

respective

underlying

index

for

the

purposes

of

both

daily

valuation

calculation

as

well

as

final

settlement

of

the

swap.

b

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

c

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRASHORT

NASDAQ

BIOTECHNOLOGY

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

173

BIS

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

99

.4

%

Repurchase

Agreements

(a)

—

99

.4

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$3,878,160

(Cost

$3,877,589)

$

3,877,589

$

3,877,589

Total

Investments

—

99.4%

(Cost

$3,877,589)

3,877,589

Other

assets

less

liabilities

—

0.6%

24,366

Net

Assets

—

100.0%

$

3,901,955

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

UltraShort

Nasdaq

Biotechnology

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

/

(Depreciation)

($)

(588,998)

3/6/2025

Bank

of

America

NA

(5.08)%

Nasdaq

Biotechnology

Index

®

164,737

(1,377,282)

11/6/2025

BNP

Paribas

SA

(5.13)%

Nasdaq

Biotechnology

Index

®

(

285,525

)

(965,426)

3/6/2025

Citibank

NA

(4.33)%

Nasdaq

Biotechnology

Index

®

(

4,501

)

(1,018,569)

3/6/2024

Morgan

Stanley

&

Co.

International

plc

(4.78)%

Nasdaq

Biotechnology

Index

®

(

41,714

)

(3,272,706)

11/14/2024

Societe

Generale

(5.38)%

Nasdaq

Biotechnology

Index

®

(

34,778

)

(584,570)

11/6/2025

UBS

AG

(4.33)%

Nasdaq

Biotechnology

Index

®

(

148,514

)

(7,807,551)

(

350,295

)

Total

Unrealized

Appreciation

164,737

Total

Unrealized

Depreciation

(

515,032

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRASHORT

QQQ

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

174

QID

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

178

.7

%

Repurchase

Agreements

(a)

—

31

.8

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$85,657,370

(Cost

$85,644,771)

$

85,644,771

$

85,644,771

U.S.

Treasury

Obligations

(b)

—

146

.9

%

U.S.

Treasury

Bills

5.27%,

3/12/2024

(c)

25,000,000

24,959,713

5.42%,

3/14/2024

(c)

25,000,000

24,952,437

5.44%,

3/21/2024

(c)

75,000,000

74,779,792

5.31%,

4/2/2024

(c)

25,000,000

24,882,333

5.29%,

4/4/2024

(c)

25,000,000

24,875,294

5.29%,

4/11/2024

(c)

25,000,000

24,849,809

5.32%,

4/25/2024

(c)

25,000,000

24,798,314

5.25%,

5/9/2024

(c)

25,000,000

24,748,557

5.30%,

5/21/2024

(c)

50,000,000

49,412,131

5.17%,

7/5/2024

(c)

25,000,000

24,549,375

5.13%,

7/25/2024

(c)

25,000,000

24,479,875

5.25%,

8/8/2024

(c)

50,000,000

48,860,778

Total

U.S.

Treasury

Obligations

(Cost

$396,184,548)

396,148,408

Total

Short-Term

Investments

(Cost

$481,829,319)

481,793,179

Total

Investments

—

178.7%

(Cost

$481,829,319)

481,793,179

Liabilities

in

excess

of

other

assets

—

(78.7%)

(

212,214,253

)

Net

Assets

—

100.0%

$

269,578,926

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

(b)

All

or

a

portion

of

these

securities

are

segregated

in

connection

with

obligations

for

swaps

with

a

total

value

of

$234,799,584.

(c)

The

rate

shown

was

the

current

yield

as

of

February

29,

2024.

Futures

Contracts

Sold

UltraShort

QQQ

had

the

following

open

short

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

A

Expiration

Date

A

Trading

Currency

A

Notional

Amount

A

Value

and

Unrealized

Depreciation

A

Nasdaq

100

E-Mini

Index

30

3/15/2024

U.S.

Dollar

$

10,849,650

$

(

189,850

)

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRASHORT

QQQ

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

175

QID

::

Swap

Agreements

UltraShort

QQQ

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(65,805,921)

11/14/2024

Bank

of

America

NA

(5.68)%

Nasdaq-100

Index

®

(

38,102,806

)

(36,214,007)

11/6/2025

Barclays

Capital

(5.53)%

Nasdaq-100

Index

®

(

9,123,896

)

(65,174,386)

11/14/2024

BNP

Paribas

SA

(5.73)%

Nasdaq-100

Index

®

(

48,958,097

)

(70,515,366)

3/6/2025

Citibank

NA

(5.68)%

Nasdaq-100

Index

®

(

40,639,686

)

(59,147,740)

11/7/2024

Goldman

Sachs

International

(5.68)%

Nasdaq-100

Index

®

(

25,978,720

)

(28,924,292)

4/7/2025

J.P.

Morgan

Securities

(5.63)%

Nasdaq-100

Index

®

(

5,047,582

)

(43,738,292)

4/10/2025

Morgan

Stanley

&

Co.

International

plc

(5.13)%

Nasdaq-100

Index

®

(

7,644,722

)

(80,710,141)

4/8/2024

Societe

Generale

(5.98)%

Nasdaq-100

Index

®

(

57,409,143

)

(78,071,030)

11/7/2024

UBS

AG

(5.48)%

Nasdaq-100

Index

®

(

30,737,423

)

(528,301,175)

(

263,642,075

)

Total

Unrealized

Depreciation

(

263,642,075

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRASHORT

REAL

ESTATE

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

176

SRS

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

123

.9

%

Repurchase

Agreements

(a)

—

55

.6

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$22,451,372

(Cost

$22,448,070)

$

22,448,070

$

22,448,070

U.S.

Treasury

Obligations

(b)

—

68

.3

%

U.S.

Treasury

Bills

5.30%,

5/9/2024

(c)

14,000,000

13,859,192

5.08%,

8/8/2024

(c)

14,000,000

13,681,018

Total

U.S.

Treasury

Obligations

(Cost

$27,551,715)

27,540,210

Total

Short-Term

Investments

(Cost

$49,999,785)

49,988,280

Total

Investments

—

123.9%

(Cost

$49,999,785)

49,988,280

Liabilities

in

excess

of

other

assets

—

(23.9%)

(

9,633,634

)

Net

Assets

—

100.0%

$

40,354,646

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

(b)

All

or

a

portion

of

these

securities

are

segregated

in

connection

with

obligations

for

swaps

with

a

total

value

of

$13,797,589.

(c)

The

rate

shown

was

the

current

yield

as

of

February

29,

2024.

Swap

Agreements

UltraShort

Real

Estate

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(36,781,426)

3/6/2025

Bank

of

America

NA

(5.68)%

S&P

Real

Estate

Select

Sector

index

c

(

2,432,464

)

(27,293,800)

3/6/2025

BNP

Paribas

SA

(5.63)%

S&P

Real

Estate

Select

Sector

index

c

(

4,268,974

)

(4,656,919)

4/7/2025

Citibank

NA

(5.23)%

S&P

Real

Estate

Select

Sector

index

c

(

372,725

)

(5,285,050)

3/6/2025

Goldman

Sachs

International

(5.43)%

S&P

Real

Estate

Select

Sector

index

c

(

1,256,553

)

(3,512,229)

3/6/2025

Societe

Generale

(5.58)%

S&P

Real

Estate

Select

Sector

index

c

(

1,022,249

)

(3,029,465)

3/6/2025

UBS

AG

(4.98)%

S&P

Real

Estate

Select

Sector

index

c

(

598,698

)

(80,558,889)

(

9,951,663

)

Total

Unrealized

Depreciation

(

9,951,663

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

c

See

the

Common

Stocks

section

of

the

Schedule

of

Portfolio

Investments

of

ProShares

Ultra

Real

Estate

for

the

components

of

the

underlying

reference

instrument

and

their

relative

weightings.

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRASHORT

RUSSELL2000

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

177

TWM

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

93

.1

%

Repurchase

Agreements

(a)

—

93

.1

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$55,756,265

(Cost

$55,748,063)

$

55,748,063

$

55,748,063

Total

Investments

—

93.1%

(Cost

$55,748,063)

55,748,063

Other

assets

less

liabilities

—

6.9%

4,138,796

Net

Assets

—

100.0%

$

59,886,859

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Futures

Contracts

Sold

UltraShort

Russell2000

had

the

following

open

short

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

A

Expiration

Date

A

Trading

Currency

A

Notional

Amount

A

Value

and

Unrealized

Depreciation

A

Russell

2000

E-Mini

Index

48

3/15/2024

U.S.

Dollar

$

4,937,520

$

(

70,569

)

Swap

Agreements

UltraShort

Russell2000

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

/

(Depreciation)

($)

(8,562,518)

3/6/2024

Bank

of

America

NA

(5.08)%

Russell

2000

®

Index

(

3,792,682

)

(14,905,809)

11/6/2025

Barclays

Capital

(5.43)%

Russell

2000

®

Index

(

2,305,199

)

(6,869,330)

2/11/2025

BNP

Paribas

SA

(5.23)%

Russell

2000

®

Index

(

1,140,189

)

(7,876,202)

3/6/2025

Citibank

NA

(5.14)%

Russell

2000

®

Index

(

2,598,439

)

(1,456,882)

11/7/2024

Goldman

Sachs

International

(5.33)%

Russell

2000

®

Index

277,180

(31,525,355)

11/6/2025

Morgan

Stanley

&

Co.

International

plc

(5.03)%

Russell

2000

®

Index

(

6,604,301

)

(13,468,252)

11/6/2025

Morgan

Stanley

&

Co.

International

plc

(5.03)%

iShares

®

Russell

2000

ETF

(

3,172,569

)

(44,993,607)

(

9,776,870

)

(15,627,058)

11/6/2025

Societe

Generale

(5.18)%

Russell

2000

®

Index

(

4,157,776

)

(14,545,914)

11/7/2024

UBS

AG

(4.83)%

Russell

2000

®

Index

(

144,835

)

(114,837,320)

(

23,638,810

)

Total

Unrealized

Appreciation

277,180

Total

Unrealized

Depreciation

(

23,915,990

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRASHORT

S&P500

®

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

178

SDS

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

149

.3

%

Repurchase

Agreements

(a)

—

16

.6

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$102,413,745

(Cost

$102,398,679)

$

102,398,679

$

102,398,679

U.S.

Treasury

Obligations

(b)

—

132

.7

%

U.S.

Treasury

Bills

5.32%,

3/12/2024

(c)

75,000,000

74,879,138

5.42%,

3/14/2024

(c)

50,000,000

49,904,874

5.44%,

3/21/2024

(c)

100,000,000

99,706,389

5.31%,

4/2/2024

(c)

50,000,000

49,764,667

5.29%,

4/11/2024

(c)

40,000,000

39,759,694

5.32%,

4/25/2024

(c)

30,000,000

29,757,977

5.31%,

5/2/2024

(c)

50,000,000

49,546,582

5.33%,

5/9/2024

(c)

60,000,000

59,396,537

5.30%,

5/21/2024

(c)

50,000,000

49,412,131

5.30%,

6/18/2024

(c)

75,000,000

73,809,970

4.91%,

7/11/2024

(c)

100,000,000

98,114,600

5.11%,

7/18/2024

(c)

100,000,000

98,016,933

5.13%,

7/25/2024

(c)

50,000,000

48,959,750

Total

U.S.

Treasury

Obligations

(Cost

$821,267,134)

821,029,242

Total

Short-Term

Investments

(Cost

$923,665,813)

923,427,921

Total

Investments

—

149.3%

(Cost

$923,665,813)

923,427,921

Liabilities

in

excess

of

other

assets

—

(49.3%)

(

304,719,098

)

Net

Assets

—

100.0%

$

618,708,823

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

(b)

All

or

a

portion

of

these

securities

are

segregated

in

connection

with

obligations

for

swaps

with

a

total

value

of

$364,597,187.

(c)

The

rate

shown

was

the

current

yield

as

of

February

29,

2024.

Futures

Contracts

Sold

UltraShort

S&P500

®

had

the

following

open

short

futures

contracts

as

of

February

29,

2024:

Number

of

Contracts

A

Expiration

Date

A

Trading

Currency

A

Notional

Amount

A

Value

and

Unrealized

Depreciation

A

S&P

500

E-Mini

Index

227

3/15/2024

U.S.

Dollar

$

57,927,563

$

(

3,182,585

)

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRASHORT

S&P500

®

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

179

SDS

::

Swap

Agreements

UltraShort

S&P500

®

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(131,198,375)

3/6/2025

Bank

of

America

NA

(5.63)%

S&P

500

®

(

25,451,143

)

(161,011,554)

2/11/2025

BNP

Paribas

SA

(5.63)%

S&P

500

®

(

37,185,057

)

(145,687,071)

4/8/2024

Citibank

NA

(5.58)%

S&P

500

®

(

87,909,826

)

(112,805,936)

11/7/2024

Goldman

Sachs

International

(5.68)%

S&P

500

®

(

54,249,493

)

(121,428,825)

4/7/2025

J.P.

Morgan

Securities

(5.53)%

S&P

500

®

(

14,572,646

)

(184,286,219)

4/10/2025

Morgan

Stanley

&

Co.

International

plc

(5.13)%

S&P

500

®

(

14,288,652

)

(183,266,966)

11/14/2024

Societe

Generale

(5.68)%

S&P

500

®

(

54,391,093

)

(139,814,435)

11/7/2024

UBS

AG

(5.48)%

S&P

500

®

(

49,151,557

)

(1,179,499,381)

(

337,199,467

)

Total

Unrealized

Depreciation

(

337,199,467

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRASHORT

SEMICONDUCTORS

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

180

SSG

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

111

.5

%

Repurchase

Agreements

(a)

—

111

.5

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$6,247,499

(Cost

$6,246,580)

$

6,246,580

$

6,246,580

Total

Investments

—

111.5%

(Cost

$6,246,580)

6,246,580

Liabilities

in

excess

of

other

assets

—

(11.5%)

(

644,380

)

Net

Assets

—

100.0%

$

5,602,200

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

UltraShort

Semiconductors

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(2,317,799)

3/6/2025

Bank

of

America

NA

(5.53)%

Dow

Jones

U.S.

Semiconductors

SM

Index

c

(

1,934,415

)

(743,445)

11/6/2025

BNP

Paribas

SA

(5.43)%

Dow

Jones

U.S.

Semiconductors

SM

Index

c

(

528,530

)

(1,034,992)

3/6/2024

Goldman

Sachs

International

(5.43)%

Dow

Jones

U.S.

Semiconductors

SM

Index

c

(

781,473

)

(932,950)

4/7/2025

J.P.

Morgan

Securities

(5.53)%

Dow

Jones

U.S.

Semiconductors

SM

Index

c

(

317,052

)

(626,826)

4/7/2025

Morgan

Stanley

&

Co.

International

plc

(4.98)%

Dow

Jones

U.S.

Semiconductors

SM

Index

c

(

8,213

)

(3,221,594)

11/6/2025

Societe

Generale

(5.53)%

Dow

Jones

U.S.

Semiconductors

SM

Index

c

(

47,528

)

(2,332,376)

11/6/2025

UBS

AG

(5.43)%

Dow

Jones

U.S.

Semiconductors

SM

Index

c

(

44,078

)

(11,209,982)

(

3,661,289

)

Total

Unrealized

Depreciation

(

3,661,289

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

c

See

the

Common

Stocks

section

of

the

Schedule

of

Portfolio

Investments

of

ProShares

Ultra

Semiconductors

for

the

components

of

the

underlying

reference

instrument

and

their

relative

weightings.

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRASHORT

SMALLCAP600

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

181

SDD

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

92

.7

%

Repurchase

Agreements

(a)

—

92

.7

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$2,162,203

(Cost

$2,161,885)

$

2,161,885

$

2,161,885

Total

Investments

—

92.7%

(Cost

$2,161,885)

2,161,885

Other

assets

less

liabilities

—

7.3%

171,370

Net

Assets

—

100.0%

$

2,333,255

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

UltraShort

SmallCap600

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

/

(Depreciation)

($)

(747,805)

3/6/2024

Bank

of

America

NA

(5.53)%

S&P

SmallCap

600

®

(

415,534

)

(1,515,186)

3/6/2024

Morgan

Stanley

&

Co.

International

plc

(4.98)%

S&P

SmallCap

600

®

(

196,965

)

(1,509,966)

3/6/2025

Societe

Generale

(5.18)%

S&P

SmallCap

600

®

(

81,321

)

(893,973)

11/7/2024

UBS

AG

(5.18)%

S&P

SmallCap

600

®

87,735

(4,666,930)

(

606,085

)

Total

Unrealized

Appreciation

87,735

Total

Unrealized

Depreciation

(

693,820

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

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).

ULTRASHORT

TECHNOLOGY

::

FEBRUARY

29,

2024

(UNAUDITED)

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

182

REW

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

105

.7

%

Repurchase

Agreements

(a)

—

105

.7

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$3,732,468

(Cost

$3,731,919)

$

3,731,919

$

3,731,919

Total

Investments

—

105.7%

(Cost

$3,731,919)

3,731,919

Liabilities

in

excess

of

other

assets

—

(5.7%)

(

200,874

)

Net

Assets

—

100.0%

$

3,531,045

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

UltraShort

Technology

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Depreciation

($)

(854,567)

3/6/2025

Bank

of

America

NA

(5.53)%

S&P

Technology

Select

Sector

Index

c

(

352,837

)

(1,788,338)

3/6/2025

BNP

Paribas

SA

(5.63)%

S&P

Technology

Select

Sector

Index

c

(

882,736

)

(54,192)

4/7/2025

Citibank

NA

(5.18)%

S&P

Technology

Select

Sector

Index

c

(

13,159

)

(771,195)

3/6/2025

Goldman

Sachs

International

(5.43)%

S&P

Technology

Select

Sector

Index

c

(

307,600

)

(1,265,176)

4/7/2025

J.P.

Morgan

Securities

(5.48)%

S&P

Technology

Select

Sector

Index

c

(

109,838

)

(1,273,513)

3/6/2025

Societe

Generale

(5.43)%

S&P

Technology

Select

Sector

Index

c

(

844,899

)

(1,054,661)

3/6/2025

UBS

AG

(5.18)%

S&P

Technology

Select

Sector

Index

c

(

678,852

)

(7,061,642)

(

3,189,921

)

Total

Unrealized

Depreciation

(

3,189,921

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

c

See

the

Common

Stocks

section

of

the

Schedule

of

Portfolio

Investments

of

ProShares

Ultra

Technology

for

the

components

of

the

underlying

reference

instrument

and

their

relative

weightings.

FEBRUARY

29,

2024

(UNAUDITED)

::

ULTRASHORT

UTILITIES

SCHEDULE

OF

PORTFOLIO

INVESTMENTS

PROSHARES

TRUST

183

SDP

::

Investments

Principal

Amount

Value

Short-Term

Investments

—

78

.5

%

Repurchase

Agreements

(a)

—

78

.5

%

Repurchase

Agreements

with

various

counterparties,

rates

5.2%

-

5.3%,

dated

2/29/2024,

due

3/1/2024,

total

to

be

received

$756,732

(Cost

$756,620)

$

756,620

$

756,620

Total

Investments

—

78.5%

(Cost

$756,620)

756,620

Other

assets

less

liabilities

—

21.5%

206,997

Net

Assets

—

100.0%

$

963,617

(a)

The

Fund

invests

in

Repurchase

Agreements

jointly

with

other

funds

in

the

Trust.

See

"Repurchase

Agreements"

in

the

Notes

to

Schedules

of

Portfolio

Investments

to

view

the

details

of

each

individual

agreement

and

counterparty

as

well

as

a

description

of

the

securities

subject

to

repurchase.

Swap

Agreements

UltraShort

Utilities

had

the

following

open

non-exchange

traded

total

return

swap

agreements

as

of

February

29,

2024:

Notional

Amount  

($)

Termination

Date

a

Counterparty

Rate

Paid

(Received)

b

Reference

Instrument

Value

and

Unrealized

Appreciation

/

(Depreciation)

($)

(380,917)

3/6/2025

Bank

of

America

NA

(5.13)%

S&P

Utilities

Select

Sector

Index

c

48,956

(450,346)

4/7/2025

Goldman

Sachs

International

(5.43)%

S&P

Utilities

Select

Sector

Index

c

(

5,663

)

(959,486)

3/6/2025

Societe

Generale

(5.43)%

S&P

Utilities

Select

Sector

Index

c

(

164,839

)

(133,227)

3/6/2025

UBS

AG

(5.08)%

S&P

Utilities

Select

Sector

Index

c

83,079

(1,923,976)

(

38,467

)

Total

Unrealized

Appreciation

132,035

Total

Unrealized

Depreciation

(

170,502

)

a

Agreements

may

be

terminated

at

will

by

either

party

without

penalty.

Payment

is

due

at

termination/maturity.

b

Reflects

the

floating

financing

rate,

as

of

February

29,

2024,

on

the

notional

amount

of

the

swap

agreement

paid

to

the

counterparty

or

received

from

the

counterparty,

excluding

any

commissions.

This

amount

is

included

as

part

of

the

unrealized

appreciation/(depreciation).

c

See

the

Common

Stocks

section

of

the

Schedule

of

Portfolio

Investments

of

ProShares

Ultra

Utilities

for

the

components

of

the

underlying

reference

instrument

and

their

relative

weightings.

184

::

FEBRUARY

29,

2024

(UNAUDITED)

::

NOTES

TO

FINANCIAL

STATEMENTS

PROSHARES

TRUST

Repurchase

Agreements 

Each

of

the

Funds

may

enter

into

repurchase

agreements.

Repurchase

agreements

are

primarily

used

by

the

Funds

as

short

term

investments

for

cash

positions.

Under

a

repurchase

agreement,

a

Fund

purchases

one

or

more

debt

securities

and

simultaneously

agrees

to

sell

those

securities

back

to

the

seller

at

a

mutually

agreed-upon

future

price

and

date,

normally

one

day

or

a

few

days

later.

The

resale

price

is

greater

than

the

purchase

price,

reflecting

an

agreed-upon

market

interest

rate

during

the

purchaser’s

holding

period.

While

the

maturities

of

the

underlying

securities

in

repurchase

transactions

may

be

more

than

one

year,

the

term

of

each

repurchase

agreement

will

always

be

less

than

one

year.

The

Funds

follow

certain

procedures

designed

to

minimize

the

risks

inherent

in

such

agreements.

These

procedures

include

effecting

repurchase

transactions

generally

with

major

global

financial

institutions

whose

creditworthiness

is

monitored

by

the

Advisor.

In

addition,

the

value

of

the

collateral

underlying

the

repurchase

agreement

is

required

to

be

at

least

equal

to

the

repurchase

price,

including

any

accrued

interest

income

earned

on

the

repurchase

agreement.

The

Funds

may

invest

in

repurchase

agreements

through

joint

account

arrangements;

in

such

cases,

each

Fund

holds

a

pro

rata

share

of

the

collateral

and

interest

income

based

upon

the

dollar

amount

of

the

repurchase

agreements

entered

into

by

each

Fund.

The

collateral

underlying

the

repurchase

agreement

is

held

by

the

Fund’s

custodian.

A

repurchase

agreement

is

subject

to

the

risk

that

the

counterparty

to

the

repurchase

agreement

that

sells

the

securities

may

default

on

its

obligation

to

repurchase

them.

In

this

circumstance,

a

Fund

may

lose

money

because

it

may

not

be

able

to

sell

the

securities

at

the

agreed

upon

time

and

price,

the

securities

may

lose

value

before

they

can

be

sold,

the

selling

institution

may

declare

bankruptcy

or

the

Fund

may

have

difficulty

exercising

rights

to

the

collateral.

During

periods

of

high

demand

for

repurchase

agreements,

the

Funds

may

be

unable

to

invest

available

cash

in

these

instruments

to

the

extent

desired

by

the

Advisor.

On

February

29,

2024,

the

Funds

had

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.

Each

Repurchase

Agreement

was

fully

collateralized

by

U.S.

government

and/or

agency

securities

at

February

29,

2024

as

follows: 

Fund

Name

A

Bank

of

America

Securities,

Inc.,  5.3%,

dated

02/29/2024

due

03/01/2024

(a)

Barclays

Capital,

Inc.,  5.2%,

dated

02/29/2024

due

03/01/2024

(b)

Barclays

Capital,

Inc.,  5.28%,

dated

02/29/2024

due

03/01/2024

(c)

BNP

Paribas

Securities

Corp.,

5.3%,

dated

2/29/2024

due

03/01/2024

(d)

ING

Financial

Markets

LLC,

5.3%,

dated

02/29/2024

due

03/01/2024

(e)

Total

Short

7-10

Year

Treasury

.......................

$

2,109,044

$

306,770

$

1,211,504

$

7,285,789

$

3,029,354

$

13,942,461

Short

20+

Year

Treasury

........................

3,496,853

508,633

2,008,707

12,080,038

5,022,753

23,116,984

Short

Dow30

SM

.............................

14,085,218

2,048,759

8,091,010

48,658,028

20,231,495

93,114,510

Short

Financials

.............................

1,297,097

188,668

745,094

4,480,876

1,863,101

8,574,836

Short

FTSE

China

50

..........................

675,119

98,199

387,810

2,332,228

969,716

4,463,072

Short

High

Yield

.............................

2,732,894

397,511

1,569,864

9,440,907

3,925,430

18,066,606

Short

MidCap400

............................

857,794

124,770

492,745

2,963,289

1,232,104

5,670,702

Short

MSCI

EAFE

............................

3,621,565

526,772

2,080,345

12,510,857

5,201,884

23,941,423

Short

MSCI

Emerging

Markets

...................

2,699,318

392,628

1,550,577

9,324,917

3,877,202

17,844,642

Short

QQQ

................................

24,683,055

3,590,263

14,178,755

85,268,736

35,453,844

163,174,653

Short

Real

Estate

............................

2,554,343

371,541

1,467,298

8,824,090

3,668,964

16,886,236

Short

Russell2000

...........................

6,916,279

1,006,004

3,972,937

23,892,600

9,934,292

45,722,112

Short

S&P500

®

.............................

22,902,049

3,331,207

13,155,686

79,116,169

32,895,670

151,400,781

Short

SmallCap600

...........................

1,099,774

159,967

631,746

3,799,221

1,579,677

7,270,385

Ultra

7-10

Year

Treasury

........................

2,893,398

420,858

1,662,061

9,995,374

4,155,972

19,127,663

Ultra

20+

Year

Treasury

........................

11,399,196

1,658,065

6,548,072

39,379,042

16,373,391

75,357,766

Ultra

Communication

Services

...................

60,138

8,747

34,545

207,748

86,379

397,557

Ultra

Consumer

Discretionary

....................

208,177

30,280

119,583

719,155

299,017

1,376,212

Ultra

Consumer

Staples

........................

98,430

14,317

56,542

340,031

141,380

650,700

Ultra

Dow30

SM

..............................

4,268,887

620,929

2,452,189

14,747,067

6,131,674

28,220,746

Ultra

Energy

...............................

1,469,487

213,743

844,121

5,076,409

2,110,716

9,714,476

Ultra

Financials

.............................

1,426,896

207,548

819,655

4,929,277

2,049,541

9,432,917

Ultra

FTSE

China

50

..........................

793,003

115,346

455,527

2,739,466

1,139,042

5,242,384

Ultra

FTSE

Europe

...........................

356,899

51,913

205,014

1,232,924

512,637

2,359,387

Ultra

Health

Care

............................

1,498,161

217,914

860,592

5,175,465

2,151,904

9,904,036

Ultra

High

Yield

.............................

1,212,203

176,320

696,329

4,187,609

1,741,163

8,013,624

Ultra

Industrials

.............................

76,935

11,191

44,194

265,778

110,507

508,605

NOTES

TO

FINANCIAL

STATEMENTS

::

FEBRUARY

29,

2024

(UNAUDITED)

::

185

PROSHARES

TRUST

Fund

Name

A

Bank

of

America

Securities,

Inc.,  5.3%,

dated

02/29/2024

due

03/01/2024

(a)

Barclays

Capital,

Inc.,  5.2%,

dated

02/29/2024

due

03/01/2024

(b)

Barclays

Capital,

Inc.,  5.28%,

dated

02/29/2024

due

03/01/2024

(c)

BNP

Paribas

Securities

Corp.,

5.3%,

dated

2/29/2024

due

03/01/2024

(d)

ING

Financial

Markets

LLC,

5.3%,

dated

02/29/2024

due

03/01/2024

(e)

Total

Ultra

Materials

..............................

$

409,655

$

59,586

$

235,319

$

1,415,172

$

588,414

$

2,708,146

Ultra

MidCap400

............................

1,146,777

166,804

658,746

3,961,594

1,647,188

7,581,109

Ultra

MSCI

Brazil

Capped

......................

518,386

75,402

297,778

1,790,791

744,591

3,426,948

Ultra

MSCI

EAFE

............................

736,115

107,071

422,849

2,542,942

1,057,329

4,866,306

Ultra

MSCI

Emerging

Markets

....................

1,744,543

253,752

1,002,123

6,026,603

2,505,799

11,532,820

Ultra

MSCI

Japan

............................

305,977

44,506

175,764

1,057,008

439,493

2,022,748

Ultra

Nasdaq

Biotechnology

.....................

1,280,746

186,290

735,702

4,424,393

1,839,617

8,466,748

Ultra

Nasdaq

Cloud

Computing

...................

69,167

10,061

39,732

238,943

99,350

457,253

Ultra

Nasdaq

Cybersecurity

.....................

483,192

70,282

277,561

1,669,207

694,038

3,194,280

Ultra

QQQ

.................................

13,585,607

1,976,088

7,804,017

46,932,093

19,513,872

89,811,677

Ultra

Real

Estate

............................

1,019,913

148,351

585,871

3,523,336

1,464,966

6,742,437

Ultra

Russell2000

............................

3,703,249

538,655

2,127,268

12,793,045

5,319,213

24,481,430

Ultra

S&P500

®

..............................

15,884,992

2,310,544

9,124,860

54,875,428

22,816,626

105,012,450

Ultra

Semiconductors

.........................

1,830,071

266,192

1,051,253

6,322,060

2,628,646

12,098,222

Ultra

SmallCap600

...........................

911,278

132,550

523,468

3,148,054

1,308,928

6,024,278

Ultra

Technology

............................

2,509,117

364,962

1,441,320

8,667,858

3,604,004

16,587,261

Ultra

Utilities

...............................

66,767

9,712

38,353

230,651

95,903

441,386

UltraPro

Dow30

SM

............................

4,554,942

662,537

2,616,508

15,735,258

6,542,553

30,111,798

UltraPro

MidCap400

..........................

311,947

45,374

179,192

1,077,634

448,069

2,062,216

UltraPro

QQQ

..............................

50,268,513

7,311,784

28,875,878

173,654,862

72,203,864

332,314,901

UltraPro

Russell2000

..........................

1,483,502

215,782

852,173

5,124,826

2,130,849

9,807,132

UltraPro

S&P500

®

............................

13,447,447

1,955,992

7,724,654

46,454,819

19,315,424

88,898,336

UltraPro

Short

20+

Year

Treasury

..................

721,510

104,947

414,460

2,492,490

1,036,351

4,769,758

UltraPro

Short

Dow30

SM

........................

13,263,567

1,929,246

7,619,026

45,819,594

19,051,305

87,682,738

UltraPro

Short

MidCap400

......................

361,390

52,566

207,594

1,248,440

519,088

2,389,078

UltraPro

Short

QQQ

..........................

40,090,824

5,831,393

23,029,481

138,495,574

57,585,002

265,032,274

UltraPro

Short

Russell2000

......................

5,520,118

802,926

3,170,936

19,069,499

7,928,897

36,492,376

UltraPro

Short

S&P500

®

........................

15,895,591

2,312,086

9,130,947

54,912,041

22,831,849

105,082,514

UltraShort

7-10

Year

Treasury

....................

2,559,328

372,266

1,470,162

8,841,316

3,676,125

16,919,197

UltraShort

20+

Year

Treasury

....................

10,293,271

1,497,203

5,912,792

35,558,573

14,784,880

68,046,719

UltraShort

Consumer

Discretionary

................

224,455

32,648

128,934

775,391

322,399

1,483,827

UltraShort

Consumer

Staples

....................

167,691

24,391

96,327

579,295

240,864

1,108,568

UltraShort

Dow30

SM

..........................

7,709,414

1,121,369

4,428,541

26,632,525

11,073,523

50,965,372

UltraShort

Energy

............................

918,090

133,540

527,381

3,171,582

1,318,710

6,069,303

UltraShort

Financials

..........................

1,017,025

147,930

584,212

3,513,358

1,460,818

6,723,343

UltraShort

FTSE

China

50

......................

1,300,239

189,126

746,900

4,491,733

1,867,616

8,595,614

UltraShort

FTSE

Europe

........................

3,945,105

573,834

2,266,197

13,628,548

5,666,607

26,080,291

UltraShort

Health

Care

........................

211,041

30,697

121,229

729,049

303,130

1,395,146

UltraShort

Industrials

.........................

296,230

43,088

170,165

1,023,341

425,495

1,958,319

UltraShort

Materials

..........................

174,436

25,373

100,202

602,599

250,554

1,153,164

UltraShort

MidCap400

.........................

300,617

43,726

172,685

1,038,498

431,796

1,987,322

UltraShort

MSCI

Brazil

Capped

...................

792,869

115,326

455,450

2,738,998

1,138,848

5,241,491

UltraShort

MSCI

EAFE

.........................

167,155

24,314

96,019

577,446

240,097

1,105,031

UltraShort

MSCI

Emerging

Markets

................

760,118

110,563

436,636

2,625,861

1,091,805

5,024,983

UltraShort

MSCI

Japan

........................

547,839

79,686

314,697

1,892,533

786,896

3,621,651

UltraShort

Nasdaq

Biotechnology

.................

586,554

85,317

336,936

2,026,277

842,505

3,877,589

UltraShort

QQQ

.............................

12,955,288

1,884,406

7,441,941

44,754,632

18,608,504

85,644,771

UltraShort

Real

Estate

.........................

3,395,669

493,915

1,950,583

11,730,489

4,877,414

22,448,070

UltraShort

Russell2000

........................

8,432,882

1,226,601

4,844,123

29,131,773

12,112,684

55,748,063

UltraShort

S&P500

®

..........................

15,489,613

2,253,035

8,897,740

53,509,574

22,248,717

102,398,679

186

::

FEBRUARY

29,

2024

(UNAUDITED)

::

NOTES

TO

FINANCIAL

STATEMENTS

PROSHARES

TRUST

Fund

Name

A

Bank

of

America

Securities,

Inc.,  5.3%,

dated

02/29/2024

due

03/01/2024

(a)

Barclays

Capital,

Inc.,  5.2%,

dated

02/29/2024

due

03/01/2024

(b)

Barclays

Capital,

Inc.,  5.28%,

dated

02/29/2024

due

03/01/2024

(c)

BNP

Paribas

Securities

Corp.,

5.3%,

dated

2/29/2024

due

03/01/2024

(d)

ING

Financial

Markets

LLC,

5.3%,

dated

02/29/2024

due

03/01/2024

(e)

Total

UltraShort

Semiconductors

.....................

$

944,906

$

137,440

$

542,785

$

3,264,220

$

1,357,229

$

6,246,580

UltraShort

SmallCap600

.......................

327,023

47,567

187,853

1,129,717

469,725

2,161,885

UltraShort

Technology

.........................

564,518

82,112

324,278

1,950,158

810,853

3,731,919

UltraShort

Utilities

...........................

114,452

16,648

65,745

395,380

164,395

756,620

$

381,812,943

$

55,536,425

$

219,325,848

$

1,318,990,171

$

548,422,226

$

2,524,087,613

Each

Repurchase

Agreement

was

fully

collateralized

by

U.S.

government

and/or

agency

securities

at

February

29,

2024

as

follows:

(a)

U.S.

Treasury

Bonds,

0%

to

4.75%,

due

8/15/2033

to

8/15/2048;

U.S.

Treasury

Notes,

0.13%

to

4.88%,

due

8/31/2024

to

1/15/2030,

which

had

an

aggregate

value

at

the

Trust

level

of

$561,000,000.

(b)

U.S.

Treasury

Notes,

4.88%,

due

10/31/2030,

which

had

an

aggregate

value

at

the

Trust

level

of

$81,600,038.

(c)

U.S.

Treasury

Notes,

3.63%

to

4.88%,

due

5/31/2028

to

10/31/2030

,

which

had

an

aggregate

value

at

the

Trust

level

of

$322,256,847.

(d)

U.S.

Treasury

Bills,

0%,

due

5/14/2024

to

8/8/2024;

U.S.

Treasury

Bonds,

0%

to

6.75%,

due

1/15/2025

to

8/15/2052;

U.S.

Treasury

Notes,

0.13%

to

5.25%,

due

4/30/2024

to

7/15/2031,

which

had

an

aggregate

value

at

the

Trust

level

of

$1,938,000,138.

(e)

Federal

Home

Loan

Banks,

0%,

due

3/28/2024

to

11/1/2024;

U.S.

Treasury

Bills,

0%,

due

4/2/2024

to

10/31/2024;

U.S.

Treasury

Bonds,

1.88%

to

4.38%,

due

2/15/2041

to

5/15/2049;

U.S.

Treasury

Notes,

0.25%

to

4.63%,

due

1/31/2025

to

2/15/2034,

which

had

an

aggregate

value

at

the

Trust

level

of

$805,801,009.