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ProShares Trust UltraShort Lehman 20+ Year Treasury
TBT

136 hedge funds and large institutions have $139M invested in ProShares Trust UltraShort Lehman 20+ Year Treasury in 2016 Q4 according to their latest regulatory filings, with 33 funds opening new positions, 26 increasing their positions, 33 reducing their positions, and 36 closing their positions.

New
Increased
Maintained
Reduced
Closed

4% less call options, than puts

Call options by funds: $266M | Put options by funds: $276M

8% less first-time investments, than exits

New positions opened: 33 | Existing positions closed: 36

5% less funds holding

Funds holding: 143 → 136 (-7)

8.58% less ownership

Funds ownership: 14.89% → 6.31% (-8.6%)

21% less repeat investments, than reductions

Existing positions increased: 26 | Existing positions reduced: 33

50% less funds holding in top 10

Funds holding in top 10: 4 → 2 (-2)

51% less capital invested

Capital invested by funds: $286M → $139M (-$147M)

Holders
136
Holders Change
-7
Holders Change %
-4.9%
% of All Funds
3.4%
Holding in Top 10
2
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-50%
% of All Funds
0.05%
New
33
Increased
26
Reduced
33
Closed
36
Calls
$266M
Puts
$276M
Net Calls
-$9.95M
Net Calls Change
-$14.3M

Top Buyers

Rank Fund Capital Flow
1
KAS
Kemnay Advisory Services
New York
+$8.08M
2
Morgan Stanley
Morgan Stanley
New York
+$4.77M
3
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$3.91M
4
Goldman Sachs
Goldman Sachs
New York
+$2.86M
5
Bank of America
Bank of America
North Carolina
+$2.47M

Top Sellers

Rank Fund Capital Flow
1
NSLI
Nan Shan Life Insurance
Taiwan
-$158M
2
UBS Group
UBS Group
Switzerland
-$8.45M
3
SG Americas Securities
SG Americas Securities
New York
-$7.66M
4
AWA
Arete Wealth Advisors
Illinois
-$5.7M
5
Parallax Volatility Advisers
Parallax Volatility Advisers
California
-$5.55M
Name Holding Trade Value Shares
Change 		Change in
Stake
CPP
51
Crow Point Partners
Massachusetts
$433K +$401K +10,610 New
Bank of Montreal
52
Bank of Montreal
Ontario, Canada
$410K -$464K -12,300 -55%
FPC
53
Falcon Point Capital
California
$408K -$151K -4,000 -29%
William Blair & Company
54
William Blair & Company
Illinois
$398K +$368K +9,740 New
AAM
55
AR Asset Management
California
$367K – – –
SFFS
56
Stonehage Fleming Financial Services
Jersey
$345K +$170K +4,500 +127%
FAM
57
Formidable Asset Management
Ohio
$342K +$11.3K +300 +4%
HFM
58
Hartford Financial Management
Connecticut
$339K – – –
LIM
59
Loudon Investment Management
New Hampshire
$339K – – –
SLA
60
Silver Lake Advisory
Utah
$317K – – –
Cambridge Investment Research Advisors
61
Cambridge Investment Research Advisors
Iowa
$308K +$285K +7,535 New
TWM
62
Torch Wealth Management
Ohio
$298K – – –
Toronto Dominion Bank
63
Toronto Dominion Bank
Ontario, Canada
$286K +$75.5K +2,000 +40%
BCA
64
Benchmark Capital Advisors
New York
$286K +$264K +7,000 New
RIG
65
Roosevelt Investment Group
New York
$284K +$263K +6,963 New
SB
66
Suntrust Banks
Georgia
$279K – – –
HF
67
HRT Financial
New York
$270K +$251K +6,637 New
NHC
68
Nicholas Hoffman & Company
Georgia
$264K – – –
BOTW
69
Bank of the West
California
$258K -$442K -11,710 -65%
AAP
70
Ardsley Advisory Partners
Connecticut
$245K -$2.08M -55,000 -90%
BWP
71
Baldwin Wealth Partners
Massachusetts
$245K +$227K +6,000 New
LRPA
72
L. Roy Papp & Associates
Arizona
$245K +$227K +6,000 New
P3I
73
Progeny 3 Inc
Washington
$243K +$225K +5,950 New
JP Morgan Chase
74
JP Morgan Chase
New York
$226K -$589K -15,588 -74%
US Bancorp
75
US Bancorp
Minnesota
$211K -$142K -3,757 -42%
1 2
3
4 5

TBT Hedge Fund Activity: Q4 2016 in Review

136 of the 4,000 institutional investors tracked by Wall St. Rank reported a position in ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) for Q4 2016, worth a combined $139M — down 51% from $286M a quarter earlier.

Sellers outnumbered buyers: 36 funds closed out of TBT and 33 opened new positions — a net loss of 3 holders — while 33 trimmed existing stakes and 26 added.

The largest buyer was Kemnay Advisory Services, opening a new position worth an estimated $8.08M. The largest seller was Nan Shan Life Insurance, exiting entirely with an estimated $158M sold.

  • 136 institutional investors held ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) as of Q4 2016, down from 143 in Q3 2016.
  • Funds reported $139M of ProShares Trust UltraShort Lehman 20+ Year Treasury stock for Q4 2016, down 51% quarter-over-quarter.
  • 33 funds opened new ProShares Trust UltraShort Lehman 20+ Year Treasury positions in Q4 2016 and 36 closed out, a net change of -3 holders.
  • The largest ProShares Trust UltraShort Lehman 20+ Year Treasury buyer in Q4 2016 was Kemnay Advisory Services, an estimated $8.08M added.
  • The largest ProShares Trust UltraShort Lehman 20+ Year Treasury seller in Q4 2016 was Nan Shan Life Insurance, an estimated $158M sold.

Based on aggregated 13F filings for Q4 2016.