Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

PROSHARES TR II (ZSL)

28 + Investors. Track Smart Money conviction in ZSL. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +13
Streak
1Q ▲
Buyers last Q
83%

Smart Money Signals — ZSL

Based on 22 hedge funds · latest filing: 2025 Q4 · updated quarterly

📈

Buying streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds added ZSL than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️

At the ownership peak (100% of max)

100% of all-time peak
22 hedge funds hold ZSL right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
🚀

Fast accumulation — +120% more funds vs a year ago

fund count last 6Q
+12 new funds entered over the past year (+120% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟢

More buyers than sellers — 83% buying

20 buying4 selling
Last quarter: 20 funds were net buyers (15 opened a brand new position + 5 added to an existing one). Only 4 were sellers (2 trimmed + 2 sold completely). A clear majority buying is a strong confirmation signal.
📈

More new buyers each quarter (+13 vs last Q)

new funds entering per quarter
Funds opening a new ZSL position: 5 → 2 → 2 → 15. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

45% of holders stayed for 2+ years

■ 45% conviction (2yr+) ■ 0% medium ■ 55% new
10 out of 22 hedge funds have held ZSL for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💎

Buying through price weakness — shares +2703%, value +874%

Value
+874%
Shares
+2703%
Last quarter: funds added +2703% more shares while total portfolio value only changed +874%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈

Growing discovery — still being found

1 → 5 → 2 → 2 → 15 new funds/Q
New funds entering each quarter: 5 → 2 → 2 → 15. A growing number of institutions are discovering ZSL each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Deep conviction — 61% of holders stayed 2+ years

■ 61% veterans ■ 4% 1-2yr ■ 36% new
Of 28 current holders: 17 (61%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
📋

Smaller funds dominant — 1% AUM from top-100

1% from top-100 AUM funds
4 of 22 holders rank in the top 100 by AUM, but together hold only 1% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
5.3
out of 10
Moderate Exit Risk
Exit risk score 5.3/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Hedge Fund Ownership: ZSL

How many hedge funds hold ZSL — quarterly history vs. share price
Quarterly hedge fund ownership of ZSL vs. share price

Market Analysis: ZSL

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: ZSL

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

2 top-rated funds 0 high-conviction
Consensus
2.1
/ 10
breadth
×
Elite
0.1
/ 10
conviction
Hedge Fund Positioning: ZSL
2026 Q1 Stats Unlock in 13 days 28 + Investors

Track Smart Money conviction in ZSL. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2025 Q4) Prior (2025 Q3) Change
Funds Holding 28 11 154.55%
13F Shares 6M 206K 2703.4%
Total Value $31M $3M 873.96%
New Positions 15 2 +13
Increased Positions 17 5 +12
Closed Positions 2 3 -1
Reduced Positions 2 10 -8
Total Calls 3 2 50.0%
Total Puts 3 1 200.0%
PUT/CALL Ratio 1.0 0.5 Neutral

Statistics: ZSL

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Valuation Measures Data as of: --

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PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
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Institutional Holders (2026 Q1)

28 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in ZSL. Verified SEC 13F-HR filings.

Top 25 institutional holders of ZSL — 2025 Q4 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 ALTFEST L J & CO INC 0.28% 482,922 $2.6M
2 RAFFLES ASSOCIATES LP 0.20% 50,000 $267K
3 TWO SIGMA SECURITIES, LLC 0.10% 134,983 $721K
4 FLOW TRADERS U.S. LLC 0.06% 341,476 $1.8M
5 Walser Wealth Management Company, A Ltd Liability Co 0.03% 11,324 $60K
6 StoneX Group Inc. 0.01% 60,000 $320K
7 Jump Financial, LLC 0.01% 186,860 $998K
8 XTX Topco Ltd 0.00% 24,175 $129K
9 Aprio Wealth Management, LLC 0.00% 10,000 $53K
10 MISSION WEALTH MANAGEMENT, LP 0.00% 20,000 $107K
11 JANE STREET GROUP, LLC 0.00% 2,466,257 $13.2M
12 FOUNDATIONS INVESTMENT ADVISORS, LLC 0.00% 11,324 $60K
13 HRT FINANCIAL LP 0.00% 29,285 $156K
14 CITADEL ADVISORS LLC 0.00% 487,863 $2.6M
15 SIMPLEX TRADING, LLC 0.00% 122,891 $656K
16 JANE STREET GROUP, LLC 0.00% 295,700 $1.6M
17 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% 345,000 $1.8M
18 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% 203,130 $1.1M
19 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% 193,200 $1.0M
20 CITADEL ADVISORS LLC 0.00% 132,900 $710K
21 CITADEL ADVISORS LLC 0.00% 65,100 $348K
22 Tower Research Capital LLC (TRC) 0.00% 351 $2K
23 BARCLAYS PLC 0.00% 33,870 $181K
24 JANE STREET GROUP, LLC 0.00% 45,000 $240K
25 SIGNATUREFD, LLC 0.00% 400 $2K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — PROSHARES TR II (ZSL)

What does the Smart Money Trend signal show for ZSL?

Buying streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds added ZSL than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for ZSL?

More buyers than sellers — 83% buying: Last quarter: 20 funds were net buyers (15 opened a brand new position + 5 added to an existing one). Only 4 were sellers (2 trimmed + 2 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for ZSL holders?

Smaller funds dominant — 1% AUM from top-100: 4 of 22 holders rank in the top 100 by AUM, but together hold only 1% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

How long have hedge funds held ZSL?

45% of holders stayed for 2+ years: 10 out of 22 hedge funds have held ZSL for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.