We are live on ! Find out more
TLT icon

iShares 20+ Year Treasury Bond ETF
TLT

1,179 hedge funds and large institutions have $41.8B invested in iShares 20+ Year Treasury Bond ETF in 2025 Q1 according to their latest regulatory filings, with 174 funds opening new positions, 432 increasing their positions, 456 reducing their positions, and 181 closing their positions.

New
Increased
Maintained
Reduced
Closed

35% more call options, than puts

Call options by funds: $15.9B | Put options by funds: $11.8B

22% more funds holding in top 10

Funds holding in top 10: 106 → 129 (+23)

13% more capital invested

Capital invested by funds: $37.1B → $41.8B (+$4.68B)

8.85% more ownership

Funds ownership: 70.98% → 79.83% (+8.8%)

4% less first-time investments, than exits

New positions opened: 174 | Existing positions closed: 181

5% less repeat investments, than reductions

Existing positions increased: 432 | Existing positions reduced: 456

3% less funds holding

Funds holding: 1,218 → 1,179 (-39)

Holders
1,179
Holders Change
-39
Holders Change %
-3.2%
% of All Funds
15.81%
Holding in Top 10
129
Holding in Top 10 Change
+23
Holding in Top 10 Change %
+21.7%
% of All Funds
1.73%
New
174
Increased
432
Reduced
456
Closed
181
Calls
$15.9B
Puts
$11.8B
Net Calls
+$4.1B
Net Calls Change
+$2.47B

Top Buyers

Rank Fund Capital Flow
1
Citigroup
Citigroup
New York
+$2.19B
2
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$1.61B
3
Bank of America
Bank of America
North Carolina
+$1.21B
4
Barclays
Barclays
United Kingdom
+$419M
5
Simplex Trading
Simplex Trading
Illinois
+$272M

Top Sellers

Rank Fund Capital Flow
1
Envestnet Asset Management
Envestnet Asset Management
Illinois
-$791M
2
CM
Capula Management
Cayman Islands
-$449M
3
Jane Street
Jane Street
New York
-$184M
4
Morgan Stanley
Morgan Stanley
New York
-$160M
5
LPL Financial
LPL Financial
California
-$148M
Name Holding Trade Value Shares
Change 		Change in
Stake
EDRH
1226
Edmond de Rothschild Holding
Switzerland
– -$2.27M -25,960 Closed
HT
1227
HAP Trading
New York
– -$2.27M -25,506 Closed
Natixis Advisors
1228
Natixis Advisors
Massachusetts
– -$2.06M -23,606 Closed
TVM
1229
True Vision MN
Minnesota
– -$2M -22,936 Closed
CFG
1230
Carr Financial Group
Massachusetts
– -$1.98M -22,617 Closed
WAM
1231
Worth Asset Management
Texas
– -$1.96M -22,397 Closed
SF
1232
SWP Financial
California
– -$1.95M -22,300 Closed
MAM
1233
Milestone Asset Management
Pennsylvania
– -$1.92M -21,938 Closed
PCM
1234
Penserra Capital Management
California
– -$1.67M -19,091 Closed
CSD
1235
Clear Street Derivatives
New York
– -$1.66M -18,964 Closed
RAM
1236
Readystate Asset Management
Illinois
– -$1.58M -17,700 Closed
CWM
1237
Certus Wealth Management
California
– -$1.38M -15,493 Closed
TWM
1238
Tradition Wealth Management
Minnesota
– -$1.3M -14,848 Closed
TF
1239
Theory Financial
Colorado
– -$1.2M -13,743 Closed
SL
1240
Sentinus LLC
Illinois
– -$1.18M -13,468 Closed
FA
1241
Fedenia Advisers
Wisconsin
– -$1.15M -13,168 Closed
CGF
1242
Constant Guidance Financial
Massachusetts
– -$1.13M -12,935 Closed
LA
1243
Lane & Associates
New Jersey
– -$1.08M -12,358 Closed
EC
1244
Estate Counselors
Wisconsin
– -$1.06M -12,120 Closed
AAA
1245
American Alpha Advisors
New York
– -$1.02M -11,718 Closed
NL
1246
NWAM LLC
Washington
– -$1.02M -11,712 Closed
MS
1247
Maven Securities
Jersey
– -$955K -10,933 Closed
KG
1248
Kilter Group
New York
– -$951K -10,895 Closed
EPW
1249
Endeavor Private Wealth
Kansas
– -$907K -10,384 Closed
TPWA
1250
Twin Peaks Wealth Advisors
California
– -$887K -10,154 Closed
48 49
50
51 52

TLT Hedge Fund Activity: Q1 2025 in Review

1,179 of the 7,458 institutional investors tracked by Wall St. Rank reported a position in iShares 20+ Year Treasury Bond ETF (TLT) for Q1 2025, worth a combined $41.8B — up 13% from $37.1B a quarter earlier.

Sellers outnumbered buyers: 181 funds closed out of TLT and 174 opened new positions — a net loss of 7 holders — while 456 trimmed existing stakes and 432 added.

The largest buyer was Citigroup, adding an estimated $2.19B. The largest seller was Envestnet Asset Management, cutting an estimated $791M.

  • 1,179 institutional investors held iShares 20+ Year Treasury Bond ETF (TLT) as of Q1 2025, down from 1,218 in Q4 2024.
  • Funds reported $41.8B of iShares 20+ Year Treasury Bond ETF stock for Q1 2025, up 13% quarter-over-quarter.
  • 174 funds opened new iShares 20+ Year Treasury Bond ETF positions in Q1 2025 and 181 closed out, a net change of -7 holders.
  • The largest iShares 20+ Year Treasury Bond ETF buyer in Q1 2025 was Citigroup, an estimated $2.19B added.
  • The largest iShares 20+ Year Treasury Bond ETF seller in Q1 2025 was Envestnet Asset Management, an estimated $791M sold.

Based on aggregated 13F filings for Q1 2025.