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ProShares Trust UltraShort Lehman 20+ Year Treasury

61 hedge funds and large institutions have $121M invested in ProShares Trust UltraShort Lehman 20+ Year Treasury in 2025 Q1 according to their latest regulatory filings, with 4 funds opening new positions, 17 increasing their positions, 12 reducing their positions, and 16 closing their positions.

New
Increased
Maintained
Reduced
Closed

42% more repeat investments, than reductions

Existing positions increased: 17 | Existing positions reduced: 12

23% more call options, than puts

Call options by funds: $38.6M | Put options by funds: $31.4M

16% more capital invested

Capital invested by funds: $104M → $121M (+$16.4M)

12.32% more ownership

Funds ownership: 34.01%46.32% (+12%)

18% less funds holding

Funds holding: 7461 (-13)

75% less first-time investments, than exits

New positions opened: 4 | Existing positions closed: 16

100% less funds holding in top 10

Funds holding in top 10: 10 (-1)

Holders
61
Holders Change
-13
Holders Change %
-17.57%
% of All Funds
0.82%
Holding in Top 10
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-100%
% of All Funds
New
4
Increased
17
Reduced
12
Closed
16
Calls
$38.6M
Puts
$31.4M
Net Calls
+$7.2M
Net Calls Change
-$7.61M
Name Holding Trade Value Shares
Change
Change in
Stake
VCM
26
Virtue Capital Management
Tennessee
$342K -$184K -5,195 -34%
GC
27
Gruss & Co
Florida
$337K -$177K -5,000 -33%
FIA
28
Foundations Investment Advisors
Arizona
$317K -$44.5K -1,258 -12%
CICI
29
Capital Investment Counsel Inc
North Carolina
$289K -$8.85K -250 -3%
WAM
30
Weinberger Asset Management
California
$249K
AI
31
Auour Investments
Massachusetts
$246K +$26.6K +752 +12%
EL
32
Essex LLC
Illinois
$223K
EWA
33
EP Wealth Advisors
California
$184K -$2.62K -74 -1%
GCM
34
Gables Capital Management
Florida
$171K
Morgan Stanley
35
Morgan Stanley
New York
$144K +$138K +3,892 +1,016%
OIA
36
Optimum Investment Advisors
Illinois
$74K
Bank of America
37
Bank of America
North Carolina
$50.8K
Barclays
38
Barclays
United Kingdom
$33.6K
Bank of Montreal
39
Bank of Montreal
Ontario, Canada
$30.6K
ACA
40
Aptus Capital Advisors
Alabama
$18.5K
VWM
41
Vermillion Wealth Management
Minnesota
$18K
JP Morgan Chase
42
JP Morgan Chase
New York
$15.7K -$11.6K -329 -41%
MCM
43
Manchester Capital Management
Vermont
$10.8K
Qube Research & Technologies (QRT)
44
Qube Research & Technologies (QRT)
United Kingdom
$5.89K +$4.99K +141 +415%
William Blair & Company
45
William Blair & Company
Illinois
$5.05K
Osaic Holdings
46
Osaic Holdings
Arizona
$5.05K -$23.5K -663 -82%
AA
47
Ancora Advisors
Ohio
$4.61K
TRCT
48
Tower Research Capital (TRC)
New York
$4.54K +$3.89K +110 +440%
OWP
49
ORG Wealth Partners
Texas
$4.16K
LC
50
Lindbrook Capital
California
$3.37K

TBT Hedge Fund Activity: Q1 2025 in Review

61 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) for Q1 2025, worth a combined $121M — up 16% from $104M a quarter earlier.

Sellers outnumbered buyers: 16 funds closed out of TBT and 4 opened new positions — a net loss of 12 holders — while 12 trimmed existing stakes and 17 added.

The largest buyer was Goldman Sachs, adding an estimated $32.6M. The largest seller was Cercano Management, exiting entirely with an estimated $4.98M sold.

  • 61 institutional investors held ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) as of Q1 2025, down from 74 in Q4 2024.
  • Funds reported $121M of ProShares Trust UltraShort Lehman 20+ Year Treasury stock for Q1 2025, up 16% quarter-over-quarter.
  • 4 funds opened new ProShares Trust UltraShort Lehman 20+ Year Treasury positions in Q1 2025 and 16 closed out, a net change of -12 holders.
  • The largest ProShares Trust UltraShort Lehman 20+ Year Treasury buyer in Q1 2025 was Goldman Sachs, an estimated $32.6M added.
  • The largest ProShares Trust UltraShort Lehman 20+ Year Treasury seller in Q1 2025 was Cercano Management, an estimated $4.98M sold.

Based on aggregated 13F filings for Q1 2025.