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ProShares Trust UltraShort Lehman 20+ Year Treasury
TBT

143 hedge funds and large institutions have $280M invested in ProShares Trust UltraShort Lehman 20+ Year Treasury in 2017 Q4 according to their latest regulatory filings, with 35 funds opening new positions, 26 increasing their positions, 39 reducing their positions, and 26 closing their positions.

New
Increased
Maintained
Reduced
Closed

35% more first-time investments, than exits

New positions opened: 35 | Existing positions closed: 26

28% more call options, than puts

Call options by funds: $293M | Put options by funds: $229M

7% more funds holding

Funds holding: 134 → 143 (+9)

1.09% more ownership

Funds ownership: 12.85% → 13.94% (+1.1%)

4% more capital invested

Capital invested by funds: $269M → $280M (+$10.5M)

33% less funds holding in top 10

Funds holding in top 10: 3 → 2 (-1)

33% less repeat investments, than reductions

Existing positions increased: 26 | Existing positions reduced: 39

Holders
143
Holders Change
+9
Holders Change %
+6.72%
% of All Funds
3.24%
Holding in Top 10
2
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-33.33%
% of All Funds
0.05%
New
35
Increased
26
Reduced
39
Closed
26
Calls
$293M
Puts
$229M
Net Calls
+$63.9M
Net Calls Change
-$136M

Top Buyers

1
BI
Bramshill Investments
Florida
+$10.1M
2
QFA
Quattro Financial Advisors
Texas
+$7.33M
3
PSCM
Prince Street Capital Management
New York
+$5.92M
4
Wolverine Trading
Wolverine Trading
Illinois
+$3.65M
5
CS
Credit Suisse
Switzerland
+$3.27M

Top Sellers

1
AAP
Ardsley Advisory Partners
Connecticut
-$6.65M
2
AIP
Almanack Investment Partners
Pennsylvania
-$5.73M
3
Bank of America
Bank of America
North Carolina
-$4.91M
4
CI
Conning Inc
Connecticut
-$1.82M
5
SCM
Southport Capital Management
Tennessee
-$1.25M
Name Holding Trade Value Shares
Change 		Change in
Stake
NSLI
1
Nan Shan Life Insurance
Taiwan
$87.8M – – –
BI
2
Bramshill Investments
Florida
$54.4M +$10.1M +290,071 +22%
CCM
3
Cobalt Capital Management
New Jersey
$15.2M +$1.74M +50,000 +13%
Bank of America
4
Bank of America
North Carolina
$12.2M -$4.91M -140,972 -28%
MVP
5
Miller Value Partners
Florida
$8.45M – – –
QFA
6
Quattro Financial Advisors
Texas
$7.59M +$7.33M +210,427 New
TAM
7
Trust Asset Management
Texas
$6.91M -$500K -14,346 -7%
PSCM
8
Prince Street Capital Management
New York
$5.74M +$5.92M +170,000 New
TB
9
Terril Brothers
Missouri
$5.65M +$869K +24,938 +18%
Wolverine Trading
10
Wolverine Trading
Illinois
$4.67M +$3.65M +104,797 +315%
PAM
11
PVG Asset Management
Colorado
$4.46M +$2M +57,484 +77%
CS
12
Credit Suisse
Switzerland
$4.02M +$3.27M +93,910 +376%
CCMG
13
Clark Capital Management Group
Pennsylvania
$3.63M +$243K +6,976 +7%
Morgan Stanley
14
Morgan Stanley
New York
$3.37M +$3.04M +87,367 +707%
VAM
15
Verity Asset Management
North Carolina
$2.76M -$337K -9,683 -11%
KC
16
Kingfisher Capital
North Carolina
$2.74M +$36.3K +1,041 +1%
Jane Street
17
Jane Street
New York
$2.65M +$2.74M +78,531 New
WI
18
Wafra Inc
New York
$2.53M – – –
Macquarie Group
19
Macquarie Group
Australia
$2.3M +$961K +27,600 +68%
AAP
20
Ardsley Advisory Partners
Connecticut
$2.2M -$6.65M -191,000 -75%
11A
21
10-15 Associates
New York
$2.01M -$142K -4,070 -6%
HNB
22
Huntington National Bank
Ohio
$1.95M – – –
HighTower Advisors
23
HighTower Advisors
Illinois
$1.94M -$108K -3,109 -5%
Goldman Sachs
24
Goldman Sachs
New York
$1.87M +$97.1K +2,787 +5%
CA
25
Commerzbank Aktiengesellschaft
Germany
$1.68M – – –
1
2 3 4 5

TBT Hedge Fund Activity: Q4 2017 in Review

143 of the 4,409 institutional investors tracked by Wall St. Rank reported a position in ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) for Q4 2017, worth a combined $280M — up 3.9% from $269M a quarter earlier.

Buyers outnumbered sellers: 35 funds opened new TBT positions and 26 closed out — a net gain of 9 holders — while 26 added to existing stakes and 39 trimmed.

The largest buyer was Bramshill Investments, adding an estimated $10.1M. The largest seller was Ardsley Advisory Partners, cutting an estimated $6.65M.

  • 143 institutional investors held ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) as of Q4 2017, up from 134 in Q3 2017.
  • Funds reported $280M of ProShares Trust UltraShort Lehman 20+ Year Treasury stock for Q4 2017, up 3.9% quarter-over-quarter.
  • 35 funds opened new ProShares Trust UltraShort Lehman 20+ Year Treasury positions in Q4 2017 and 26 closed out, a net change of +9 holders.
  • The largest ProShares Trust UltraShort Lehman 20+ Year Treasury buyer in Q4 2017 was Bramshill Investments, an estimated $10.1M added.
  • The largest ProShares Trust UltraShort Lehman 20+ Year Treasury seller in Q4 2017 was Ardsley Advisory Partners, an estimated $6.65M sold.

Based on aggregated 13F filings for Q4 2017.