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ProShares Trust UltraShort Lehman 20+ Year Treasury
TBT

168 hedge funds and large institutions have $581M invested in ProShares Trust UltraShort Lehman 20+ Year Treasury in 2013 Q4 according to their latest regulatory filings, with 49 funds opening new positions, 47 increasing their positions, 41 reducing their positions, and 25 closing their positions.

New
Increased
Maintained
Reduced
Closed

150% more funds holding in top 10

Funds holding in top 10: 6 → 15 (+9)

96% more first-time investments, than exits

New positions opened: 49 | Existing positions closed: 25

59% more capital invested

Capital invested by funds: $366M → $581M (+$215M)

15% more repeat investments, than reductions

Existing positions increased: 47 | Existing positions reduced: 41

14% more funds holding

Funds holding: 147 → 168 (+21)

3.41% more ownership

Funds ownership: 9.39% → 12.8% (+3.4%)

21% less call options, than puts

Call options by funds: $972M | Put options by funds: $1.24B

Holders
168
Holders Change
+21
Holders Change %
+14.29%
% of All Funds
4.88%
Holding in Top 10
15
Holding in Top 10 Change
+9
Holding in Top 10 Change %
+150%
% of All Funds
0.44%
New
49
Increased
47
Reduced
41
Closed
25
Calls
$972M
Puts
$1.24B
Net Calls
-$265M
Net Calls Change
+$25.1M

Top Buyers

Rank Fund Capital Flow
1
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$62.1M
2
AAP
Ardsley Advisory Partners
Connecticut
+$19.1M
3
VF
Virtu Financial
New York
+$15.6M
4
Bank of America
Bank of America
North Carolina
+$11M
5
SM
Seminole Management
New York
+$9.33M

Top Sellers

Rank Fund Capital Flow
1
U
UBS
Switzerland
-$10.2M
2
TAL
TIG Advisors LLC
New York
-$7.53M
3
BCM
BBT Capital Management
Texas
-$5.95M
4
Millennium Management
Millennium Management
New York
-$5.88M
5
Goldman Sachs
Goldman Sachs
New York
-$4.85M
Name Holding Trade Value Shares
Change 		Change in
Stake
KFS
76
KMS Financial Services
Washington
$846K +$214K +2,796 +35%
EAM
77
Evanson Asset Management
California
$845K +$816K +10,670 New
WCM
78
Windsor Capital Management
Arizona
$809K -$6.27K -82 -0.8%
TFCP
79
Twin Focus Capital Partners
Massachusetts
$792K -$229K -3,000 -23%
PNC Financial Services Group
80
PNC Financial Services Group
Pennsylvania
$790K – – –
CAM
81
Carret Asset Management
New York
$691K -$120K -1,575 -15%
US Bancorp
82
US Bancorp
Minnesota
$681K -$1.15K -15 -0.2%
GG
83
Gofen & Glossberg
Illinois
$679K -$19.1K -250 -3%
CAM
84
CMT Asset Management
Illinois
$671K -$880K -11,515 -58%
RA
85
Royce & Associates
New York
$649K – – –
JP Morgan Chase
86
JP Morgan Chase
New York
$637K -$905K -11,833 -60%
Northern Trust
87
Northern Trust
Illinois
$610K -$16.7K -218 -3%
SB
88
Suntrust Banks
Georgia
$541K +$38.1K +499 +8%
WS
89
Wedbush Securities
California
$537K +$165K +2,153 +47%
HPC
90
HM Payson & Co
Maine
$532K -$19.1K -250 -4%
CNB
91
City National Bank
California
$508K +$490K +6,408 New
SRF
92
Silver Rock Financial
California
$493K +$476K +6,221 New
BPC
93
Banque Pictet & Cie
Switzerland
$475K +$459K +6,000 New
HC
94
Highmount Capital
New York
$461K – – –
BAM
95
Burnham Asset Management
New York
$448K – – –
PI
96
Placemark Investments
Illinois
$443K +$5.35K +70 +1%
CA
97
Cetera Advisors
Colorado
$433K -$31.8K -416 -7%
LCM
98
Lucas Capital Management
New Jersey
$429K +$22.9K +300 +6%
BRWA
99
B. Riley Wealth Advisors
Florida
$409K -$3.44K -45 -0.9%
PCA
100
PL Capital Advisors
Florida
$396K – – –
2 3
4
5 6

TBT Hedge Fund Activity: Q4 2013 in Review

168 of the 3,445 institutional investors tracked by Wall St. Rank reported a position in ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) for Q4 2013, worth a combined $581M — up 59% from $366M a quarter earlier.

Buyers outnumbered sellers: 49 funds opened new TBT positions and 25 closed out — a net gain of 24 holders — while 47 added to existing stakes and 41 trimmed.

The largest buyer was Susquehanna International Group, adding an estimated $62.1M. The largest seller was UBS, cutting an estimated $10.2M.

  • 168 institutional investors held ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) as of Q4 2013, up from 147 in Q3 2013.
  • Funds reported $581M of ProShares Trust UltraShort Lehman 20+ Year Treasury stock for Q4 2013, up 59% quarter-over-quarter.
  • 49 funds opened new ProShares Trust UltraShort Lehman 20+ Year Treasury positions in Q4 2013 and 25 closed out, a net change of +24 holders.
  • The largest ProShares Trust UltraShort Lehman 20+ Year Treasury buyer in Q4 2013 was Susquehanna International Group, an estimated $62.1M added.
  • The largest ProShares Trust UltraShort Lehman 20+ Year Treasury seller in Q4 2013 was UBS, an estimated $10.2M sold.

Based on aggregated 13F filings for Q4 2013.