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ProShares Trust UltraShort Lehman 20+ Year Treasury
TBT

82 hedge funds and large institutions have $99.2M invested in ProShares Trust UltraShort Lehman 20+ Year Treasury in 2023 Q4 according to their latest regulatory filings, with 25 funds opening new positions, 16 increasing their positions, 19 reducing their positions, and 21 closing their positions.

New
Increased
Maintained
Reduced
Closed

19% more first-time investments, than exits

New positions opened: 25 | Existing positions closed: 21

4% more funds holding

Funds holding: 79 → 82 (+3)

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

16% less repeat investments, than reductions

Existing positions increased: 16 | Existing positions reduced: 19

30% less call options, than puts

Call options by funds: $75.2M | Put options by funds: $108M

32.89% less ownership

Funds ownership: 60.35% → 27.46% (-33%)

69% less capital invested

Capital invested by funds: $315M → $99.2M (-$216M)

Holders
82
Holders Change
+3
Holders Change %
+3.8%
% of All Funds
1.2%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.03%
New
25
Increased
16
Reduced
19
Closed
21
Calls
$75.2M
Puts
$108M
Net Calls
-$32.7M
Net Calls Change
-$19.4M

Top Buyers

Rank Fund Capital Flow
1
CM
CastleKnight Management
New York
+$4.68M
2
CCMG
Clark Capital Management Group
Pennsylvania
+$4.17M
3
PEA
Park Edge Advisors
Ohio
+$3.53M
4
Citadel Advisors
Citadel Advisors
Florida
+$3.2M
5
Osaic Holdings
Osaic Holdings
Arizona
+$2.87M

Top Sellers

Rank Fund Capital Flow
1
Jane Street
Jane Street
New York
-$174M
2
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$8.2M
3
JFG
Jefferies Financial Group
New York
-$3.81M
4
GS
GTS Securities
New York
-$3.68M
5
CFA
Camarda Financial Advisors
Florida
-$3.59M
Name Holding Trade Value Shares
Change 		Change in
Stake
FIA
26
Foundations Investment Advisors
Arizona
$575K -$261K -6,946 -27%
GC
27
Gruss & Co
Florida
$529K – – –
EA
28
Ellsworth Advisors
Ohio
$513K +$638K +17,000 New
FAM
29
Forte Asset Management
New York
$453K +$563K +15,000 New
FWSM
30
First Wilshire Securities Management
California
$413K – – –
HT
31
HAP Trading
New York
$399K -$166K -4,430 -25%
Verition Fund Management
32
Verition Fund Management
Connecticut
$362K – – –
FFA
33
First Foundation Advisors
California
$352K +$437K +11,656 New
UBS Group
34
UBS Group
Switzerland
$345K +$183K +4,867 +74%
Cerity Partners
35
Cerity Partners
New York
$316K +$6.49K +173 +2%
CS
36
Credit Suisse
Switzerland
$302K – – –
CAPTRUST Financial Advisors
37
CAPTRUST Financial Advisors
North Carolina
$274K -$281K -7,500 -45%
CICI
38
Capital Investment Counsel Inc
North Carolina
$267K -$135K -3,600 -29%
CA
39
Cumberland Advisors
Florida
$267K -$50.6K -1,350 -13%
TSS
40
Two Sigma Securities
New York
$237K -$785K -20,940 -73%
PVI
41
Pine Valley Investments
New Jersey
$225K -$196K -5,219 -41%
WAM
42
Weinberger Asset Management
California
$218K +$4.65K +124 +2%
Tudor Investment Corp
43
Tudor Investment Corp
Connecticut
$209K +$260K +6,919 New
PAS
44
Park Avenue Securities
New York
$206K +$257K +6,838 New
GCM
45
Gables Capital Management
Florida
$198K – – –
PS
46
Principal Securities
Iowa
$196K +$243K +6,482 New
EWA
47
EP Wealth Advisors
California
$165K – – –
GEA
48
Glen Eagle Advisors
New Jersey
$132K – – –
OIA
49
Optimum Investment Advisors
Illinois
$66.4K – – –
TRCT
50
Tower Research Capital (TRC)
New York
$53K +$65.8K +1,755 New
1
2
3 4 5

TBT Hedge Fund Activity: Q4 2023 in Review

82 of the 6,859 institutional investors tracked by Wall St. Rank reported a position in ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) for Q4 2023, worth a combined $99.2M — down 69% from $315M a quarter earlier.

Buyers outnumbered sellers: 25 funds opened new TBT positions and 21 closed out — a net gain of 4 holders — while 16 added to existing stakes and 19 trimmed.

The largest buyer was CastleKnight Management, adding an estimated $4.68M. The largest seller was Jane Street, cutting an estimated $174M.

  • 82 institutional investors held ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) as of Q4 2023, up from 79 in Q3 2023.
  • Funds reported $99.2M of ProShares Trust UltraShort Lehman 20+ Year Treasury stock for Q4 2023, down 69% quarter-over-quarter.
  • 25 funds opened new ProShares Trust UltraShort Lehman 20+ Year Treasury positions in Q4 2023 and 21 closed out, a net change of +4 holders.
  • The largest ProShares Trust UltraShort Lehman 20+ Year Treasury buyer in Q4 2023 was CastleKnight Management, an estimated $4.68M added.
  • The largest ProShares Trust UltraShort Lehman 20+ Year Treasury seller in Q4 2023 was Jane Street, an estimated $174M sold.

Based on aggregated 13F filings for Q4 2023.