ProShares Short 20+ Year Treasury ETF
30 hedge funds and large institutions have $12.3M invested in ProShares Short 20+ Year Treasury ETF in 2025 Q4 according to their latest regulatory filings, with 8 funds opening new positions, 3 increasing their positions, 6 reducing their positions, and 6 closing their positions.
33% more first-time investments, than exits
New positions opened: 8 | Existing positions closed: 6
17% more capital invested
Capital invested by funds: $10.6M → $12.3M (+$1.78M)
7% more funds holding
Funds holding: 28 → 30 (+2)
2.71% more ownership
Funds ownership: 15.72% → 18.43% (+2.7%)
50% less repeat investments, than reductions
Existing positions increased: 3 | Existing positions reduced: 6
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Jane Street
New York
|
+$1.2M |
| 2 |
LPL Financial
San Diego,
California
|
+$1.09M |
| 3 |
Focus Partners Wealth
Boston,
Massachusetts
|
+$398K |
| 4 |
WAM
Worth Asset Management
Dallas,
Texas
|
+$226K |
| 5 |
Mariner
Overland Park,
Kansas
|
+$197K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
-$1.28M |
| 2 |
VCM
Virtue Capital Management
Brentwood,
Tennessee
|
-$564K |
| 3 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
-$210K |
| 4 |
Citadel Advisors
Miami,
Florida
|
-$201K |
| 5 |
PFA
Pettinga Financial Advisors
Evansville,
Indiana
|
-$166K |
TBF Hedge Fund Activity: Q4 2025 in Review
30 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in ProShares Short 20+ Year Treasury ETF (TBF) for Q4 2025, worth a combined $12.3M — up 17% from $10.6M a quarter earlier.
Buyers outnumbered sellers: 8 funds opened new TBF positions and 6 closed out — a net gain of 2 holders — while 3 added to existing stakes and 6 trimmed.
The largest buyer was Jane Street, opening a new position worth an estimated $1.2M. The largest seller was Morgan Stanley, cutting an estimated $1.28M.
- 30 institutional investors held ProShares Short 20+ Year Treasury ETF (TBF) as of Q4 2025, up from 28 in Q3 2025.
- Funds reported $12.3M of ProShares Short 20+ Year Treasury ETF stock for Q4 2025, up 17% quarter-over-quarter.
- 8 funds opened new ProShares Short 20+ Year Treasury ETF positions in Q4 2025 and 6 closed out, a net change of +2 holders.
- The largest ProShares Short 20+ Year Treasury ETF buyer in Q4 2025 was Jane Street, an estimated $1.2M added.
- The largest ProShares Short 20+ Year Treasury ETF seller in Q4 2025 was Morgan Stanley, an estimated $1.28M sold.
Based on aggregated 13F filings for Q4 2025.