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ProShares Trust UltraShort Lehman 20+ Year Treasury
TBT

167 hedge funds and large institutions have $478M invested in ProShares Trust UltraShort Lehman 20+ Year Treasury in 2014 Q3 according to their latest regulatory filings, with 20 funds opening new positions, 44 increasing their positions, 56 reducing their positions, and 26 closing their positions.

New
Increased
Maintained
Reduced
Closed

13% more funds holding in top 10

Funds holding in top 10: 8 → 9 (+1)

1.18% less ownership

Funds ownership: 12.48% → 11.3% (-1.2%)

3% less funds holding

Funds holding: 173 → 167 (-6)

7% less capital invested

Capital invested by funds: $517M → $478M (-$38.2M)

21% less repeat investments, than reductions

Existing positions increased: 44 | Existing positions reduced: 56

23% less first-time investments, than exits

New positions opened: 20 | Existing positions closed: 26

34% less call options, than puts

Call options by funds: $597M | Put options by funds: $911M

Holders
167
Holders Change
-6
Holders Change %
-3.47%
% of All Funds
4.85%
Holding in Top 10
9
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+12.5%
% of All Funds
0.26%
New
20
Increased
44
Reduced
56
Closed
26
Calls
$597M
Puts
$911M
Net Calls
-$313M
Net Calls Change
+$141M

Top Buyers

Rank Fund Capital Flow
1
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$22M
2
Goldman Sachs
Goldman Sachs
New York
+$16.5M
3
JMPWA
JP Morgan Private Wealth Advisors
California
+$15.4M
4
CS
Credit Suisse
Switzerland
+$12.1M
5
Citadel Advisors
Citadel Advisors
Florida
+$9.53M

Top Sellers

Rank Fund Capital Flow
1
Deutsche Bank
Deutsche Bank
Germany
-$27.4M
2
LPL Financial
LPL Financial
California
-$13M
3
AAP
Ardsley Advisory Partners
Connecticut
-$11.8M
4
NSLI
Nan Shan Life Insurance
Taiwan
-$9.87M
5
CA
Commerzbank Aktiengesellschaft
Germany
-$7.44M
Name Holding Trade Value Shares
Change 		Change in
Stake
BCM
26
Buckhead Capital Management
Georgia
$3.94M +$582K +10,000 +17%
EM
27
EnTrustPermal Management
New York
$3.64M +$483K +8,300 +15%
Barclays
28
Barclays
United Kingdom
$3.23M -$1.75M -30,086 -34%
Royal Bank of Canada
29
Royal Bank of Canada
Ontario, Canada
$3.05M -$1.62M -27,744 -34%
AGM
30
Alpine Global Management
New York
$3.01M +$2.8M +48,000 +889%
MC
31
MSF Capital
New York
$2.9M +$1.32M +22,720 +79%
WPIC
32
White Pine Investment Company
Michigan
$2.84M +$182K +3,125 +7%
Nomura Holdings
33
Nomura Holdings
Japan
$2.78M +$841K +14,447 +41%
HighTower Advisors
34
HighTower Advisors
Illinois
$2.77M -$2.01M -34,580 -41%
VKH
35
Virtu KCG Holdings
New York
$2.7M +$766K +13,155 +38%
SG Americas Securities
36
SG Americas Securities
New York
$2.67M -$4.41M -75,742 -61%
V
37
Veritable
Delaware
$2.31M +$1.16M +20,000 +95%
GCA
38
Greenwood Capital Associates
South Carolina
$2.27M +$239K +4,107 +11%
RAM
39
Ramsey Asset Management
Virginia
$2.11M – – –
BNP Paribas Financial Markets
40
BNP Paribas Financial Markets
France
$1.74M -$3.35M -57,604 -65%
HNB
41
Huntington National Bank
Ohio
$1.74M – – –
SCM
42
Seamans Capital Management
Massachusetts
$1.71M +$24.7K +425 +1%
OIM
43
Orca Investment Management
Oregon
$1.71M -$27.8K -477 -2%
AAP
44
Ardsley Advisory Partners
Connecticut
$1.6M -$11.8M -203,000 -88%
PAAMCP
45
Pacific Alternative Asset Management Company (PAAMCO)
California
$1.54M +$127K +2,185 +9%
CICI
46
Capital Investment Counsel Inc
North Carolina
$1.52M +$115K +1,975 +8%
U
47
UBS
Switzerland
$1.43M -$5.95M -102,192 -80%
UAS
48
United Asset Strategies
New York
$1.41M -$3.22M -55,242 -69%
Cambridge Investment Research Advisors
49
Cambridge Investment Research Advisors
Iowa
$1.39M -$22.7K -389 -2%
Jane Street
50
Jane Street
New York
$1.39M -$1.27M -21,862 -47%
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TBT Hedge Fund Activity: Q3 2014 in Review

167 of the 3,446 institutional investors tracked by Wall St. Rank reported a position in ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) for Q3 2014, worth a combined $478M — down 7.4% from $517M a quarter earlier.

Sellers outnumbered buyers: 26 funds closed out of TBT and 20 opened new positions — a net loss of 6 holders — while 56 trimmed existing stakes and 44 added.

The largest buyer was Susquehanna International Group, adding an estimated $22M. The largest seller was Deutsche Bank, cutting an estimated $27.4M.

  • 167 institutional investors held ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) as of Q3 2014, down from 173 in Q2 2014.
  • Funds reported $478M of ProShares Trust UltraShort Lehman 20+ Year Treasury stock for Q3 2014, down 7.4% quarter-over-quarter.
  • 20 funds opened new ProShares Trust UltraShort Lehman 20+ Year Treasury positions in Q3 2014 and 26 closed out, a net change of -6 holders.
  • The largest ProShares Trust UltraShort Lehman 20+ Year Treasury buyer in Q3 2014 was Susquehanna International Group, an estimated $22M added.
  • The largest ProShares Trust UltraShort Lehman 20+ Year Treasury seller in Q3 2014 was Deutsche Bank, an estimated $27.4M sold.

Based on aggregated 13F filings for Q3 2014.