ProShares Trust UltraShort Lehman 20+ Year Treasury
TBT
140 hedge funds and large institutions have $255M invested in ProShares Trust UltraShort Lehman 20+ Year Treasury in 2018 Q1 according to their latest regulatory filings, with 23 funds opening new positions, 42 increasing their positions, 30 reducing their positions, and 25 closing their positions.
200% more funds holding in top 10
Funds holding in top 10: 2 → 6 (+4)
40% more repeat investments, than reductions
Existing positions increased: 42 | Existing positions reduced: 30
39% more call options, than puts
Call options by funds: $252M | Put options by funds: $182M
8% less first-time investments, than exits
New positions opened: 23 | Existing positions closed: 25
1.78% less ownership
Funds ownership: 13.94% → 12.16% (-1.8%)
2% less funds holding
Funds holding: 143 → 140 (-3)
9% less capital invested
Capital invested by funds: $280M → $255M (-$25.3M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AAP
Ardsley Advisory Partners
Stamford,
Connecticut
|
+$42.5M |
| 2 |
MVP
Miller Value Partners
Sarasota,
Florida
|
+$9.29M |
| 3 |
TB
Terril Brothers
St. Louis,
Missouri
|
+$9.03M |
| 4 |
Parallax Volatility Advisers
San Francisco,
California
|
+$5.93M |
| 5 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$5.75M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
NSLI
Nan Shan Life Insurance
Taipei City,
Taiwan
|
-$87.8M |
| 2 |
CCM
Cobalt Capital Management
Short Hills,
New Jersey
|
-$10.3M |
| 3 |
QFA
Quattro Financial Advisors
The Woodlands,
Texas
|
-$7.7M |
| 4 |
TAM
Trust Asset Management
Houston,
Texas
|
-$7.48M |
| 5 |
Wolverine Trading
Chicago,
Illinois
|
-$4.13M |
TBT Hedge Fund Activity: Q1 2018 in Review
140 of the 4,364 institutional investors tracked by Wall St. Rank reported a position in ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) for Q1 2018, worth a combined $255M — down 9% from $280M a quarter earlier.
Sellers outnumbered buyers: 25 funds closed out of TBT and 23 opened new positions — a net loss of 2 holders — while 30 trimmed existing stakes and 42 added.
The largest buyer was Ardsley Advisory Partners, adding an estimated $42.5M. The largest seller was Nan Shan Life Insurance, exiting entirely with an estimated $87.8M sold.
- 140 institutional investors held ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) as of Q1 2018, down from 143 in Q4 2017.
- Funds reported $255M of ProShares Trust UltraShort Lehman 20+ Year Treasury stock for Q1 2018, down 9% quarter-over-quarter.
- 23 funds opened new ProShares Trust UltraShort Lehman 20+ Year Treasury positions in Q1 2018 and 25 closed out, a net change of -2 holders.
- The largest ProShares Trust UltraShort Lehman 20+ Year Treasury buyer in Q1 2018 was Ardsley Advisory Partners, an estimated $42.5M added.
- The largest ProShares Trust UltraShort Lehman 20+ Year Treasury seller in Q1 2018 was Nan Shan Life Insurance, an estimated $87.8M sold.
Based on aggregated 13F filings for Q1 2018.