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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
CCMG
176
Clark Capital Management Group
Pennsylvania
– -$1.53M -19,350 Closed
DS
177
Dudley & Shanley
Florida
– -$1.35M -17,100 Closed
OAM
178
Orinda Asset Management
California
– -$1.13M -14,300 Closed
DS
179
DRW Securities
Illinois
– -$917K -11,578 Closed
CAM
180
CMT Asset Management
Illinois
– -$671K -8,469 Closed
CNB
181
City National Bank
California
– -$508K -6,408 Closed
PI
182
Placemark Investments
Illinois
– -$443K -5,582 Closed
HIM
183
Hillsdale Investment Management
Ontario, Canada
– -$352K -4,450 Closed
BHA
184
Beech Hill Advisors
New York
– -$317K -4,000 Closed
BCA
185
Benchmark Capital Advisors
New York
– -$317K -4,000 Closed
MWM
186
Merriman Wealth Management
Washington
– -$317K -4,000 Closed
IHL
187
Investment House LLC
California
– -$297K -3,755 Closed
CIA
188
Capital Investment Advisors
Georgia
– -$257K -3,241 Closed
UMA
189
USA Mutuals Advisors
Texas
– -$214K -3,000 Closed
PA
190
Pinnacle Associates
New York
– -$223K -2,820 Closed
FANJ
191
Financial Architects (New Jersey)
New Jersey
– -$210K -2,647 Closed
DLG
192
Daniel L. Goodwin
– -$204K -2,575 Closed
SGC
193
South Georgia Capital
Illinois
– -$125K -1,580 Closed
FNYS
194
First New York Securities
New York
– -$35.7K -500 Closed
NES
195
New England Securities
New York
– -$14K -176 Closed
PWAG
196
Polaris Wealth Advisory Group
California
– -$13K -165 Closed
DAM
197
Delta Asset Management
Tennessee
– -$3K -41 Closed
NMIS
198
Northwestern Mutual Investment Services
Wisconsin
– +$286 +4 New
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.