ProShares Short 20+ Year Treasury ETF
TBF
37 hedge funds and large institutions have $25.1M invested in ProShares Short 20+ Year Treasury ETF in 2026 Q1 according to their latest regulatory filings, with 12 funds opening new positions, 7 increasing their positions, 6 reducing their positions, and 5 closing their positions.
140% more first-time investments, than exits
New positions opened: 12 | Existing positions closed: 5
103% more capital invested
Capital invested by funds: $12.3M → $25.1M (+$12.7M)
23% more funds holding
Funds holding: 30 → 37 (+7)
17% more repeat investments, than reductions
Existing positions increased: 7 | Existing positions reduced: 6
5.97% more ownership
Funds ownership: 18.43% → 24.4% (+6%)
41% less call options, than puts
Call options by funds: $715K | Put options by funds: $1.22M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AP
Advisors Preferred
Rockville,
Maryland
|
+$2.45M |
| 2 |
HC
Hourglass Capital
Houston,
Texas
|
+$1.27M |
| 3 |
ASN
Advisory Services Network
Atlanta,
Georgia
|
+$715K |
| 4 |
CTA
Camelot Technology Advisors
San Francisco,
California
|
+$498K |
| 5 |
LPL Financial
San Diego,
California
|
+$401K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Jane Street
New York
|
-$630K |
| 2 |
KAS
Kestra Advisory Services
Austin,
Texas
|
-$72.3K |
| 3 |
Simplex Trading
Chicago,
Illinois
|
-$67.8K |
| 4 |
SKK
Shepherd Kaplan Krochuk
Boston,
Massachusetts
|
-$32.9K |
| 5 |
VCM
Virtue Capital Management
Brentwood,
Tennessee
|
-$18K |
TBF Hedge Fund Activity: Q1 2026 in Review
37 of the 8,187 institutional investors tracked by Wall St. Rank reported a position in ProShares Short 20+ Year Treasury ETF (TBF) for Q1 2026, worth a combined $25.1M — up 103% from $12.3M a quarter earlier.
Buyers outnumbered sellers: 12 funds opened new TBF positions and 5 closed out — a net gain of 7 holders — while 7 added to existing stakes and 6 trimmed.
The largest buyer was Advisors Preferred, opening a new position worth an estimated $2.45M. The largest seller was Jane Street, cutting an estimated $630K.
- 37 institutional investors held ProShares Short 20+ Year Treasury ETF (TBF) as of Q1 2026, up from 30 in Q4 2025.
- Funds reported $25.1M of ProShares Short 20+ Year Treasury ETF stock for Q1 2026, up 103% quarter-over-quarter.
- 12 funds opened new ProShares Short 20+ Year Treasury ETF positions in Q1 2026 and 5 closed out, a net change of +7 holders.
- The largest ProShares Short 20+ Year Treasury ETF buyer in Q1 2026 was Advisors Preferred, an estimated $2.45M added.
- The largest ProShares Short 20+ Year Treasury ETF seller in Q1 2026 was Jane Street, an estimated $630K sold.
Based on aggregated 13F filings for Q1 2026.