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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>TWDC Enterprises 18 Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Canadian Natural Resources Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Georgia Power Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Medtronic, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>International Business Machines Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Pfizer, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Nomura Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Valero Energy Corp.</name>
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        <name>Molson Coors Beverage Co.</name>
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        <name>Anheuser-Busch InBev Worldwide, Inc.</name>
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        <name>United Airlines Pass-Through Trust</name>
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        <name>John Deere Capital Corp.</name>
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        <name>Williams Cos., Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Time Warner Cable LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HP, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Wells Fargo &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sumitomo Mitsui Financial Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RTX Corp.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>Philip Morris International, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.25000000</annualizedRt>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.30000000</annualizedRt>
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        <name>Oracle Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sumitomo Mitsui Financial Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HSBC Holdings plc</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>UnitedHealth Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Altria Group, Inc.</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>Altria Group, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>General Motors Co.</name>
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        <name>Walt Disney Co. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BHP Billiton Finance USA Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Occidental Petroleum Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cooperatieve Rabobank UA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>General Electric Co.</name>
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        <name>ConocoPhillips</name>
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        <name>Target Corp.</name>
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        <name>Elevance Health, Inc.</name>
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        <name>Vodafone Group plc</name>
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        <name>Paramount Global</name>
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        <name>Johnson &amp; Johnson</name>
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        <name>Eaton Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Vodafone Group plc</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Wells Fargo &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GlaxoSmithKline Capital, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Nomura Holdings, Inc.</name>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Baker Hughes Holdings LLC</name>
        <lei>549300XU3XH6F05YEQ93</lei>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-09-15</maturityDt>
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        <name>TransCanada PipeLines Ltd.</name>
        <lei>5BV01I6231JPDAPMGH09</lei>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.62500000</annualizedRt>
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        <name>Walt Disney Co. (The)</name>
        <lei>549300GZKULIZ0WOW665</lei>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-11-15</maturityDt>
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          <annualizedRt>6.65000000</annualizedRt>
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        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Merck &amp; Co., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cisco Systems, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>John Deere Capital Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Caterpillar, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cumberland Combined Cycle Generation LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Phillips 66</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Toronto-Dominion Bank (The)</name>
        <lei>PT3QB789TSUIDF371261</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Telefonica Emisiones SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BHP Billiton Finance USA Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>International Business Machines Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Shell Finance US, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Oracle Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Citigroup, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Apple, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>American Express Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Southern Copper Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Citigroup, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Westpac Banking Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Novartis Capital Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Each Repurchase Agreement was fully collateralized which had an aggregate value at the Trust level." noteItem="C.10.f.iii"/>
      <explntrNote note="The portfolio level risk metrics included in Item B.3. do not consider the impact related to the Fund investments in swaps on fixed income instruments.  The Fund continues to work with its vendor to include these instruments prospectively in their coverage." noteItem="B.3.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-09-30</ncom:dateSigned>
      <ncom:nameOfApplicant>ProShares Trust</ncom:nameOfApplicant>
      <ncom:signature>Maria Clem Sell</ncom:signature>
      <ncom:signerName>Maria Clem Sell</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
