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ProShares Trust UltraShort Lehman 20+ Year Treasury
TBT

165 hedge funds and large institutions have $511M invested in ProShares Trust UltraShort Lehman 20+ Year Treasury in 2014 Q1 according to their latest regulatory filings, with 29 funds opening new positions, 49 increasing their positions, 41 reducing their positions, and 32 closing their positions.

New
Increased
Maintained
Reduced
Closed

20% more repeat investments, than reductions

Existing positions increased: 49 | Existing positions reduced: 41

0.77% less ownership

Funds ownership: 12.8% → 12.03% (-0.77%)

9% less first-time investments, than exits

New positions opened: 29 | Existing positions closed: 32

2% less funds holding

Funds holding: 168 → 165 (-3)

12% less capital invested

Capital invested by funds: $581M → $511M (-$70.2M)

56% less call options, than puts

Call options by funds: $422M | Put options by funds: $967M

60% less funds holding in top 10

Funds holding in top 10: 15 → 6 (-9)

Holders
165
Holders Change
-3
Holders Change %
-1.79%
% of All Funds
4.77%
Holding in Top 10
6
Holding in Top 10 Change
-9
Holding in Top 10 Change %
-60%
% of All Funds
0.17%
New
29
Increased
49
Reduced
41
Closed
32
Calls
$422M
Puts
$967M
Net Calls
-$546M
Net Calls Change
-$280M

Top Buyers

Rank Fund Capital Flow
1
ACM
Aviance Capital Management
Florida
+$37M
2
LPL Financial
LPL Financial
California
+$27.2M
3
Jane Street
Jane Street
New York
+$23.5M
4
SG Americas Securities
SG Americas Securities
New York
+$15.3M
5
Bank of America
Bank of America
North Carolina
+$10.6M

Top Sellers

Rank Fund Capital Flow
1
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$51.6M
2
FWP
FAS Wealth Partners
Kansas
-$24.5M
3
AAP
Ardsley Advisory Partners
Connecticut
-$19.8M
4
VF
Virtu Financial
New York
-$16.1M
5
SCM
Stevens Capital Management
Pennsylvania
-$9.71M
Name Holding Trade Value Shares
Change 		Change in
Stake
AIS
26
AlphaOne Investment Services
Pennsylvania
$3.4M +$3.6M +50,400 New
BCM
27
Buckhead Capital Management
Georgia
$3.38M – – –
Royal Bank of Canada
28
Royal Bank of Canada
Ontario, Canada
$3.37M -$5.85M -81,865 -62%
IIA
29
IPG Investment Advisors
California
$3.21M +$1.13M +15,829 +51%
Bank of Montreal
30
Bank of Montreal
Ontario, Canada
$3.16M -$6.58M -91,995 -66%
WPIC
31
White Pine Investment Company
Michigan
$3.1M +$151K +2,118 +5%
EM
32
EnTrustPermal Management
New York
$2.57M +$234K +3,275 +9%
RAM
33
Ramsey Asset Management
Virginia
$2.52M – – –
BCM
34
Bluefin Capital Management
New York
$2.5M +$2.7M +37,747 New
SCM
35
Summit Capital Management
Washington
$2.43M +$2.57M +36,012 New
ACP
36
Aviance Capital Partners
Florida
$2.39M -$711K -9,943 -22%
OIM
37
Orca Investment Management
Oregon
$2.22M -$1.36M -19,028 -37%
PGIM
38
Pacific Global Investment Management
California
$2.09M -$91.5K -1,280 -4%
ST
39
Spot Trading
Illinois
$2.06M +$2.19M +30,564 New
HNB
40
Huntington National Bank
Ohio
$2.05M – – –
GC
41
Gruss & Co
Florida
$2.03M -$2.86M -40,000 -57%
Blackstone Inc
42
Blackstone Inc
New York
$2.03M +$2.14M +30,000 New
MC
43
MSF Capital
New York
$2.02M +$2.14M +29,962 New
KC
44
Kingfisher Capital
North Carolina
$1.8M -$23.8K -333 -1%
Morgan Stanley
45
Morgan Stanley
New York
$1.71M -$351K -4,913 -16%
Millennium Management
46
Millennium Management
New York
$1.66M +$674K +9,426 +62%
JP Morgan Chase
47
JP Morgan Chase
New York
$1.64M +$1.16M +16,281 +202%
Nomura Holdings
48
Nomura Holdings
Japan
$1.62M +$126K +1,764 +8%
CICI
49
Capital Investment Counsel Inc
North Carolina
$1.59M +$567K +7,932 +51%
CCM
50
Compton Capital Management
Rhode Island
$1.48M +$25K +350 +2%
1
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3 4 5

TBT Hedge Fund Activity: Q1 2014 in Review

165 of the 3,462 institutional investors tracked by Wall St. Rank reported a position in ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) for Q1 2014, worth a combined $511M — down 12% from $581M a quarter earlier.

Sellers outnumbered buyers: 32 funds closed out of TBT and 29 opened new positions — a net loss of 3 holders — while 41 trimmed existing stakes and 49 added.

The largest buyer was Aviance Capital Management, adding an estimated $37M. The largest seller was Susquehanna International Group, cutting an estimated $51.6M.

  • 165 institutional investors held ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) as of Q1 2014, down from 168 in Q4 2013.
  • Funds reported $511M of ProShares Trust UltraShort Lehman 20+ Year Treasury stock for Q1 2014, down 12% quarter-over-quarter.
  • 29 funds opened new ProShares Trust UltraShort Lehman 20+ Year Treasury positions in Q1 2014 and 32 closed out, a net change of -3 holders.
  • The largest ProShares Trust UltraShort Lehman 20+ Year Treasury buyer in Q1 2014 was Aviance Capital Management, an estimated $37M added.
  • The largest ProShares Trust UltraShort Lehman 20+ Year Treasury seller in Q1 2014 was Susquehanna International Group, an estimated $51.6M sold.

Based on aggregated 13F filings for Q1 2014.