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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
FNYS
151
First New York Securities
New York
$40K -$38.2K -500 -50%
BCI
152
Brinker Capital Investments
Pennsylvania
$40K – – –
BAM
153
Brave Asset Management
New Jersey
$20K +$19.1K +250 New
HI
154
Hudock Inc
Pennsylvania
$19K – – –
Ameriprise
155
Ameriprise
Minnesota
$17K -$535 -7 -3%
Invesco
156
Invesco
Georgia
$16K – – –
LFR
157
Lehman Financial Resources
Pennsylvania
$16K – – –
MA
158
MUFG Americas
New York
$16K – – –
NES
159
New England Securities
New York
$14K +$11.5K +151 +604%
PWAG
160
Polaris Wealth Advisory Group
California
$13K +$12.6K +165 New
CTC
161
Central Trust Company
Missouri
$4K – – –
JAM
162
Jolley Asset Management
North Carolina
$4K – – –
TCM
163
Tradewinds Capital Management
Washington
$3K +$2.83K +37 New
DAM
164
Delta Asset Management
Tennessee
$3K +$3.13K +41 New
PCTC
165
Perkins Coie Trust Company
Washington
$2K +$2.29K +30 New
WRM
166
Westport Resources Management
Connecticut
$1K -$3.75K -49 -80%
GI
167
Gradient Investments
Minnesota
$1K – – –
PSC
168
Prentiss Smith & Co
Vermont
$1K – – –
TFA
169
Transamerica Financial Advisors
Florida
$1K – – –
Manulife (Manufacturers Life Insurance)
170
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$212 +$205K +2,681 New
TAL
171
TIG Advisors LLC
New York
– -$7.53M -100,000 Closed
Jane Street
172
Jane Street
New York
– -$4.38M -57,350 Closed
RHBC
173
R.H. Bluestein & Co
Michigan
– -$2.47M -32,825 Closed
Artisan Partners
174
Artisan Partners
Wisconsin
– -$1.9M -25,200 Closed
AI
175
Atria Investments
North Carolina
– -$991K -13,162 Closed
4 5 6
7
8

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.