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ProShares Trust UltraShort Lehman 20+ Year Treasury
TBT

108 hedge funds and large institutions have $224M invested in ProShares Trust UltraShort Lehman 20+ Year Treasury in 2022 Q1 according to their latest regulatory filings, with 22 funds opening new positions, 20 increasing their positions, 31 reducing their positions, and 35 closing their positions.

New
Increased
Maintained
Reduced
Closed

40% more funds holding in top 10

Funds holding in top 10: 5 → 7 (+2)

35% more call options, than puts

Call options by funds: $272M | Put options by funds: $201M

1.33% more ownership

Funds ownership: 15.79% → 17.12% (+1.3%)

1% more capital invested

Capital invested by funds: $222M → $224M (+$1.94M)

12% less funds holding

Funds holding: 123 → 108 (-15)

35% less repeat investments, than reductions

Existing positions increased: 20 | Existing positions reduced: 31

37% less first-time investments, than exits

New positions opened: 22 | Existing positions closed: 35

Holders
108
Holders Change
-15
Holders Change %
-12.2%
% of All Funds
1.7%
Holding in Top 10
7
Holding in Top 10 Change
+2
Holding in Top 10 Change %
+40%
% of All Funds
0.11%
New
22
Increased
20
Reduced
31
Closed
35
Calls
$272M
Puts
$201M
Net Calls
+$71.1M
Net Calls Change
-$31.9M

Top Buyers

Rank Fund Capital Flow
1
Parallax Volatility Advisers
Parallax Volatility Advisers
California
+$18.7M
2
AAP
Ardsley Advisory Partners
Connecticut
+$13.9M
3
BNP Paribas Financial Markets
BNP Paribas Financial Markets
France
+$11.5M
4
SIM
Seaview Investment Managers
Florida
+$9.22M
5
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$7.73M

Top Sellers

Rank Fund Capital Flow
1
KCM
Kornitzer Capital Management
Kansas
-$19.4M
2
Citadel Advisors
Citadel Advisors
Florida
-$13.2M
3
Jane Street
Jane Street
New York
-$10.4M
4
FFG
Frisch Financial Group
New York
-$7.9M
5
CS
Credit Suisse
Switzerland
-$7.68M
Name Holding Trade Value Shares
Change 		Change in
Stake
LCM
101
Logan Capital Management
Pennsylvania
$1K – – –
PFGIA
102
Patriot Financial Group Insurance Agency
Massachusetts
$1K – – –
TIM
103
Tortoise Investment Management
New York
$1K – – –
HWMA
104
Heritage Wealth Management (Arizona)
Arizona
$1K +$576 +30 New
NFSG
105
Newbridge Financial Services Group
Florida
$1K +$922 +48 +200%
Citadel Advisors
106
Citadel Advisors
Florida
– -$13.2M -685,895 Closed
FFG
107
Frisch Financial Group
New York
– -$7.9M -471,519 Closed
IMC Chicago
108
IMC Chicago
Illinois
– -$4.25M -251,320 Closed
HT
109
HAP Trading
New York
– -$4.34M -225,835 Closed
IIA
110
IPG Investment Advisors
California
– -$2.02M -119,250 Closed
FTUS
111
Flow Traders U.S.
New York
– -$1.62M -95,873 Closed
ACM
112
Ategra Capital Management
Virginia
– -$1.24M -73,679 Closed
AWM
113
Avaii Wealth Management
Wisconsin
– -$1.22M -71,921 Closed
EWM
114
Endurance Wealth Management
Rhode Island
– -$1.18M -70,000 Closed
SFS
115
Sowell Financial Services
Arkansas
– -$896K -53,037 Closed
IA
116
Insight Advisors
Pennsylvania
– -$895K -53,000 Closed
GECH
117
Garnet Equity Capital Holdings
New York
– -$845K -50,000 Closed
Verition Fund Management
118
Verition Fund Management
Connecticut
– -$845K -50,000 Closed
CC
119
Claybrook Capital
Massachusetts
– -$644K -38,100 Closed
CCFM
120
Clear Creek Financial Management
Washington
– -$533K -31,570 Closed
BCV
121
Banque Cantonale Vaudoise
Switzerland
– -$509K -30,160 Closed
HighTower Advisors
122
HighTower Advisors
Illinois
– -$381K -22,586 Closed
LNWWM
123
Laird Norton Wetherby Wealth Management
California
– -$314K -18,604 Closed
RIA
124
Realta Investment Advisors
Delaware
– -$309K -18,285 Closed
FFA
125
First Foundation Advisors
California
– -$280K -16,585 Closed
2 3 4
5
6

TBT Hedge Fund Activity: Q1 2022 in Review

108 of the 6,340 institutional investors tracked by Wall St. Rank reported a position in ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) for Q1 2022, worth a combined $224M — up 0.87% from $222M a quarter earlier.

Sellers outnumbered buyers: 35 funds closed out of TBT and 22 opened new positions — a net loss of 13 holders — while 31 trimmed existing stakes and 20 added.

The largest buyer was Parallax Volatility Advisers, adding an estimated $18.7M. The largest seller was Kornitzer Capital Management, cutting an estimated $19.4M.

  • 108 institutional investors held ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) as of Q1 2022, down from 123 in Q4 2021.
  • Funds reported $224M of ProShares Trust UltraShort Lehman 20+ Year Treasury stock for Q1 2022, up 0.87% quarter-over-quarter.
  • 22 funds opened new ProShares Trust UltraShort Lehman 20+ Year Treasury positions in Q1 2022 and 35 closed out, a net change of -13 holders.
  • The largest ProShares Trust UltraShort Lehman 20+ Year Treasury buyer in Q1 2022 was Parallax Volatility Advisers, an estimated $18.7M added.
  • The largest ProShares Trust UltraShort Lehman 20+ Year Treasury seller in Q1 2022 was Kornitzer Capital Management, an estimated $19.4M sold.

Based on aggregated 13F filings for Q1 2022.