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ProShares Trust UltraShort Lehman 20+ Year Treasury
TBT

165 hedge funds and large institutions have $511M invested in ProShares Trust UltraShort Lehman 20+ Year Treasury in 2014 Q1 according to their latest regulatory filings, with 29 funds opening new positions, 49 increasing their positions, 41 reducing their positions, and 32 closing their positions.

New
Increased
Maintained
Reduced
Closed

20% more repeat investments, than reductions

Existing positions increased: 49 | Existing positions reduced: 41

0.77% less ownership

Funds ownership: 12.8% → 12.03% (-0.77%)

9% less first-time investments, than exits

New positions opened: 29 | Existing positions closed: 32

2% less funds holding

Funds holding: 168 → 165 (-3)

12% less capital invested

Capital invested by funds: $581M → $511M (-$70.2M)

56% less call options, than puts

Call options by funds: $422M | Put options by funds: $967M

60% less funds holding in top 10

Funds holding in top 10: 15 → 6 (-9)

Holders
165
Holders Change
-3
Holders Change %
-1.79%
% of All Funds
4.77%
Holding in Top 10
6
Holding in Top 10 Change
-9
Holding in Top 10 Change %
-60%
% of All Funds
0.17%
New
29
Increased
49
Reduced
41
Closed
32
Calls
$422M
Puts
$967M
Net Calls
-$546M
Net Calls Change
-$280M

Top Buyers

1
ACM
Aviance Capital Management
Florida
+$37M
2
LPL Financial
LPL Financial
California
+$27.2M
3
Jane Street
Jane Street
New York
+$23.5M
4
SG Americas Securities
SG Americas Securities
New York
+$15.3M
5
Bank of America
Bank of America
North Carolina
+$10.6M

Top Sellers

1
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$51.6M
2
FWP
FAS Wealth Partners
Kansas
-$24.5M
3
AAP
Ardsley Advisory Partners
Connecticut
-$19.8M
4
VF
Virtu Financial
New York
-$16.1M
5
SCM
Stevens Capital Management
Pennsylvania
-$9.71M
Name Holding Trade Value Shares
Change 		Change in
Stake
MA
151
MUFG Americas
New York
$15K +$1.79K +25 +13%
LFR
152
Lehman Financial Resources
Pennsylvania
$14K – – –
Citigroup
153
Citigroup
New York
$11K -$188K -2,635 -94%
M&T Bank
154
M&T Bank
New York
$7K +$7.86K +110 New
GAM
155
Gemmer Asset Management
California
$5K +$5.36K +75 New
CTC
156
Central Trust Company
Missouri
$3K – – –
JAM
157
Jolley Asset Management
North Carolina
$3K – – –
SFSIG
158
San Francisco Sentry Investment Group
California
$3K +$3.57K +50 New
PCTC
159
Perkins Coie Trust Company
Washington
$2K – – –
TCM
160
Tradewinds Capital Management
Washington
$2K – – –
TFA
161
Transamerica Financial Advisors
Florida
$1K -$71 -1 -8%
GI
162
Gradient Investments
Minnesota
$1K – – –
WRM
163
Westport Resources Management
Connecticut
$1K – – –
FFS
164
Founders Financial Securities
Maryland
$224 -$32.3K -452 -12%
Manulife (Manufacturers Life Insurance)
165
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$181 – – –
FWP
166
FAS Wealth Partners
Kansas
– -$24.5M -309,968 Closed
AAP
167
Ardsley Advisory Partners
Connecticut
– -$19.8M -250,000 Closed
VF
168
Virtu Financial
New York
– -$16.1M -203,904 Closed
SCM
169
Stevens Capital Management
Pennsylvania
– -$9.71M -122,600 Closed
SM
170
Seminole Management
New York
– -$9.66M -122,000 Closed
UAS
171
United Asset Strategies
New York
– -$7.93M -100,084 Closed
PWPCM
172
Perella Weinberg Partners Capital Management
New York
– -$5M -70,000 Closed
CM
173
Cascabel Management
New York
– -$3.96M -50,000 Closed
Walleye Trading
174
Walleye Trading
New York
– -$3.12M -43,697 Closed
GIM
175
Guild Investment Management
California
– -$2.54M -32,040 Closed
4 5 6
7
8

TBT Hedge Fund Activity: Q1 2014 in Review

165 of the 3,462 institutional investors tracked by Wall St. Rank reported a position in ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) for Q1 2014, worth a combined $511M — down 12% from $581M a quarter earlier.

Sellers outnumbered buyers: 32 funds closed out of TBT and 29 opened new positions — a net loss of 3 holders — while 41 trimmed existing stakes and 49 added.

The largest buyer was Aviance Capital Management, adding an estimated $37M. The largest seller was Susquehanna International Group, cutting an estimated $51.6M.

  • 165 institutional investors held ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) as of Q1 2014, down from 168 in Q4 2013.
  • Funds reported $511M of ProShares Trust UltraShort Lehman 20+ Year Treasury stock for Q1 2014, down 12% quarter-over-quarter.
  • 29 funds opened new ProShares Trust UltraShort Lehman 20+ Year Treasury positions in Q1 2014 and 32 closed out, a net change of -3 holders.
  • The largest ProShares Trust UltraShort Lehman 20+ Year Treasury buyer in Q1 2014 was Aviance Capital Management, an estimated $37M added.
  • The largest ProShares Trust UltraShort Lehman 20+ Year Treasury seller in Q1 2014 was Susquehanna International Group, an estimated $51.6M sold.

Based on aggregated 13F filings for Q1 2014.