YCLHIGH SIGNALFINANCIAL10-K

YCL experienced substantial growth in total assets and stockholders' equity, nearly doubling both metrics year-over-year.

The dramatic expansion in assets and equity suggests significant capital inflows or investment growth, which could indicate strong investor demand for YCL's investment products. However, the magnitude of this growth warrants careful monitoring to ensure it reflects sustainable business expansion rather than volatile market conditions or one-time events.

Comparing 2026-02-26 vs 2025-02-28View on EDGAR →
FINANCIAL ANALYSIS

YCL's balance sheet expanded substantially, with total assets growing from $3.2B to $6.1B and stockholders' equity increasing from $3.0B to $5.7B, representing roughly a doubling of both key metrics. Cash and equivalents grew more modestly by 41% to $55.7M, while share buybacks increased to $13.0B from $8.8B. The overall picture suggests significant business expansion and strong capital generation, though the scale of growth raises questions about sustainability and underlying drivers.

FINANCIAL STATEMENT CHANGES
Total Assets
Balance Sheet
+92.4%
$3.2B$6.1B

Asset base grew 92.4% — expansion through organic growth, acquisitions, or capital deployment.

Stockholders Equity
Balance Sheet
+89.2%
$3.0B$5.7B

Equity base grew 89.2% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Share Buybacks
Cash Flow
+48%
$8.8B$13.0B

Share repurchases increased 48% — management returning capital, signals confidence in intrinsic value.

Cash & Equivalents
Balance Sheet
+41.1%
$39.5M$55.7M

Cash position surged 41.1% — strong cash generation or capital raise providing significant financial cushion.

LANGUAGE CHANGES
NEW — 2026-02-26
PRIOR — 2025-02-28
ADDED
10-K false FY 0001415311 Rates shown represent discount rate at the time of purchase.
See Note 1 and Note 8 of these Notes to Financial Statements.
The positions and counterparties herein are as of December 31, 2025.
Government Agencies Short-term Debt Securities | ProShares VIX Short-Term Futures ETF 2024-12-31 0001415311 U.S.
Government Agencies Short-term Debt Securities | ProShares Ultra Bloomberg Crude Oil 2024-12-31 0001415311 U.S.
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REMOVED
The aggregate market value of each Fund s units held by non-affiliates as of June 30, 2024 and the number of outstanding units for each Fund as of February 21 , 2 0 25, are included in the table below.
On March 11, 2022, ProShares Capital Management LLC announced that it planned to close and liquidate ProShares UltraShort Australian Dollar ETF (ticker symbol: CROC) and ProShares Short Euro ETF (ticker symbol: EUFX).
The last day the liquidated funds accepted creation orders was on May 2, 2022.
Trading in each liquidated fund was suspended prior to market open on May 3, 2022.
Proceeds of the liquidation were sent to shareholders on May 12, 2022.
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