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ProShares Trust UltraShort Lehman 20+ Year Treasury
TBT

130 hedge funds and large institutions have $118M invested in ProShares Trust UltraShort Lehman 20+ Year Treasury in 2018 Q2 according to their latest regulatory filings, with 21 funds opening new positions, 26 increasing their positions, 27 reducing their positions, and 29 closing their positions.

New
Increased
Maintained
Reduced
Closed

16% more call options, than puts

Call options by funds: $243M | Put options by funds: $208M

4% less repeat investments, than reductions

Existing positions increased: 26 | Existing positions reduced: 27

5.44% less ownership

Funds ownership: 12.16% → 6.72% (-5.4%)

7% less funds holding

Funds holding: 140 → 130 (-10)

28% less first-time investments, than exits

New positions opened: 21 | Existing positions closed: 29

33% less funds holding in top 10

Funds holding in top 10: 6 → 4 (-2)

54% less capital invested

Capital invested by funds: $255M → $118M (-$136M)

Holders
130
Holders Change
-10
Holders Change %
-7.14%
% of All Funds
2.98%
Holding in Top 10
4
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-33.33%
% of All Funds
0.09%
New
21
Increased
26
Reduced
27
Closed
29
Calls
$243M
Puts
$208M
Net Calls
+$34.2M
Net Calls Change
-$36M

Top Buyers

Rank Fund Capital Flow
1
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$6.74M
2
RA
Raffles Associates
New York
+$6.55M
3
TA
Tiedemann Advisors
New York
+$2.49M
4
SG Americas Securities
SG Americas Securities
New York
+$1.16M
5
OTC
Opera Trading Capital
France
+$954K

Top Sellers

Rank Fund Capital Flow
1
BI
Bramshill Investments
Florida
-$60.1M
2
AAP
Ardsley Advisory Partners
Connecticut
-$43.9M
3
MVP
Miller Value Partners
Florida
-$9.35M
4
CCM
Cobalt Capital Management
New Jersey
-$6.22M
5
PSCM
Prince Street Capital Management
New York
-$6.17M
Name Holding Trade Value Shares
Change 		Change in
Stake
OIM
51
Orca Investment Management
Oregon
$433K -$11K -295 -2%
GF
52
Gabelli Funds
New York
$431K – – –
William Blair & Company
53
William Blair & Company
Illinois
$419K +$1.87K +50 +0.4%
ACM
54
Alpha Capital Management
Texas
$390K – – –
TFA
55
Toth Financial Advisory
Virginia
$363K +$50.6K +1,352 +15%
FPC
56
Falcon Point Capital
California
$359K – – –
CCM
57
Compton Capital Management
Rhode Island
$347K – – –
ANBT
58
American National Bank & Trust
Texas
$342K +$8.23K +220 +2%
SLA
59
Silver Lake Advisory
Utah
$318K +$13.1K +349 +4%
IP
60
Intellectus Partners
California
$314K – – –
AFP
61
Ausdal Financial Partners
Iowa
$310K -$105K -2,806 -25%
HFM
62
Hartford Financial Management
Connecticut
$298K – – –
PAA
63
Peregrine Asset Advisers
Oregon
$288K – – –
TSS
64
Two Sigma Securities
New York
$260K +$271K +7,231 New
Chevy Chase Trust
65
Chevy Chase Trust
Maryland
$257K +$267K +7,135 New
MFW
66
Meristem Family Wealth
Minnesota
$256K +$266K +7,112 New
MC
67
Moors & Cabot
Massachusetts
$254K +$44.9K +1,200 +20%
Toronto Dominion Bank
68
Toronto Dominion Bank
Ontario, Canada
$252K – – –
Northern Trust
69
Northern Trust
Illinois
$248K +$258K +6,895 New
TWM
70
Torch Wealth Management
Ohio
$241K – – –
11A
71
10-15 Associates
New York
$240K -$1.96M -52,472 -89%
WIA
72
Wealthstreet Investment Advisors
Texas
$226K +$236K +6,300 New
MCI
73
McDonald Capital Investors
California
$203K – – –
MA
74
MUFG Americas
New York
$173K – – –
Parallax Volatility Advisers
75
Parallax Volatility Advisers
California
$150K -$5.81M -155,400 -97%
1 2
3
4 5

TBT Hedge Fund Activity: Q2 2018 in Review

130 of the 4,368 institutional investors tracked by Wall St. Rank reported a position in ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) for Q2 2018, worth a combined $118M — down 54% from $255M a quarter earlier.

Sellers outnumbered buyers: 29 funds closed out of TBT and 21 opened new positions — a net loss of 8 holders — while 27 trimmed existing stakes and 26 added.

The largest buyer was Susquehanna International Group, opening a new position worth an estimated $6.74M. The largest seller was Bramshill Investments, exiting entirely with an estimated $60.1M sold.

  • 130 institutional investors held ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) as of Q2 2018, down from 140 in Q1 2018.
  • Funds reported $118M of ProShares Trust UltraShort Lehman 20+ Year Treasury stock for Q2 2018, down 54% quarter-over-quarter.
  • 21 funds opened new ProShares Trust UltraShort Lehman 20+ Year Treasury positions in Q2 2018 and 29 closed out, a net change of -8 holders.
  • The largest ProShares Trust UltraShort Lehman 20+ Year Treasury buyer in Q2 2018 was Susquehanna International Group, an estimated $6.74M added.
  • The largest ProShares Trust UltraShort Lehman 20+ Year Treasury seller in Q2 2018 was Bramshill Investments, an estimated $60.1M sold.

Based on aggregated 13F filings for Q2 2018.