ProShares Trust UltraShort Lehman 20+ Year Treasury
TBT
167 hedge funds and large institutions have $478M invested in ProShares Trust UltraShort Lehman 20+ Year Treasury in 2014 Q3 according to their latest regulatory filings, with 20 funds opening new positions, 44 increasing their positions, 56 reducing their positions, and 26 closing their positions.
13% more funds holding in top 10
Funds holding in top 10: 8 → 9 (+1)
1.18% less ownership
Funds ownership: 12.48% → 11.3% (-1.2%)
3% less funds holding
Funds holding: 173 → 167 (-6)
7% less capital invested
Capital invested by funds: $517M → $478M (-$38.2M)
21% less repeat investments, than reductions
Existing positions increased: 44 | Existing positions reduced: 56
23% less first-time investments, than exits
New positions opened: 20 | Existing positions closed: 26
34% less call options, than puts
Call options by funds: $597M | Put options by funds: $911M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$22M |
| 2 |
Goldman Sachs
New York
|
+$16.5M |
| 3 |
JMPWA
JP Morgan Private Wealth Advisors
San Francisco,
California
|
+$15.4M |
| 4 |
CS
Credit Suisse
Zurich,
Switzerland
|
+$12.1M |
| 5 |
Citadel Advisors
Miami,
Florida
|
+$9.53M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Deutsche Bank
Frankfurt Am Main Ge,
Germany
|
-$27.4M |
| 2 |
LPL Financial
San Diego,
California
|
-$13M |
| 3 |
AAP
Ardsley Advisory Partners
Stamford,
Connecticut
|
-$11.8M |
| 4 |
NSLI
Nan Shan Life Insurance
Taipei City,
Taiwan
|
-$9.87M |
| 5 |
CA
Commerzbank Aktiengesellschaft
Frankfurt,
Germany
|
-$7.44M |
TBT Hedge Fund Activity: Q3 2014 in Review
167 of the 3,446 institutional investors tracked by Wall St. Rank reported a position in ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) for Q3 2014, worth a combined $478M — down 7.4% from $517M a quarter earlier.
Sellers outnumbered buyers: 26 funds closed out of TBT and 20 opened new positions — a net loss of 6 holders — while 56 trimmed existing stakes and 44 added.
The largest buyer was Susquehanna International Group, adding an estimated $22M. The largest seller was Deutsche Bank, cutting an estimated $27.4M.
- 167 institutional investors held ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) as of Q3 2014, down from 173 in Q2 2014.
- Funds reported $478M of ProShares Trust UltraShort Lehman 20+ Year Treasury stock for Q3 2014, down 7.4% quarter-over-quarter.
- 20 funds opened new ProShares Trust UltraShort Lehman 20+ Year Treasury positions in Q3 2014 and 26 closed out, a net change of -6 holders.
- The largest ProShares Trust UltraShort Lehman 20+ Year Treasury buyer in Q3 2014 was Susquehanna International Group, an estimated $22M added.
- The largest ProShares Trust UltraShort Lehman 20+ Year Treasury seller in Q3 2014 was Deutsche Bank, an estimated $27.4M sold.
Based on aggregated 13F filings for Q3 2014.