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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
Envestnet Asset Management
51
Envestnet Asset Management
Illinois
$1.37M -$441K -7,574 -24%
HCM
52
Howland Capital Management
Massachusetts
$1.31M +$622K +10,680 +85%
CCM
53
Compton Capital Management
Rhode Island
$1.18M -$58.2K -1,000 -5%
RJA
54
Raymond James & Associates
Florida
$1.13M -$62.6K -1,075 -5%
FPCP
55
Fort Point Capital Partners
California
$971K – – –
JWA
56
JFS Wealth Advisors
Pennsylvania
$958K +$116K +2,000 +13%
CAM
57
Carret Asset Management
New York
$915K +$56.8K +975 +6%
SCM
58
Southport Capital Management
Tennessee
$883K -$185K -3,175 -17%
PCM
59
Prelude Capital Management
New York
$875K +$815K +14,000 +918%
AC
60
Alexandria Capital
Virginia
$850K -$24.1K -414 -3%
PSW
61
Portfolio Strategies (Washington)
Washington
$833K -$294K -5,045 -25%
BC
62
BMI Capital
New York
$830K -$9.43K -162 -1%
ACP
63
Aviance Capital Partners
Florida
$786K -$1.17M -20,050 -59%
N
64
Natixis
France
$739K +$123K +2,105 +19%
MCI
65
McDonald Capital Investors
California
$724K – – –
CWA
66
Convergent Wealth Advisors
Maryland
$718K – – –
Walleye Trading
67
Walleye Trading
New York
$711K -$926K -15,896 -56%
ST
68
Spot Trading
Illinois
$694K -$125K -2,138 -15%
Citigroup
69
Citigroup
New York
$673K -$102K -1,758 -13%
TDC
70
Thompson Davis & Co
Virginia
$669K +$72.8K +1,250 +12%
IPC
71
Independent Portfolio Consultants
Florida
$645K +$667K +11,455 New
SRF
72
Silver Rock Financial
California
$632K +$58.2K +1,000 +10%
JG
73
Jefferies Group
New York
$625K +$646K +11,100 New
EAM
74
Evanson Asset Management
California
$601K – – –
ID
75
Integral Derivatives
New York
$597K +$617K +10,600 New
1 2
3
4 5

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.