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iShares 20+ Year Treasury Bond ETF

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: 106129 (+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: 1,2181,179 (-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
Name Holding Trade Value Shares
Change
Change in
Stake
Bank of America
1
Bank of America
North Carolina
$8.45B +$1.21B +13,588,369 +17%
Rafferty Asset Management
2
Rafferty Asset Management
New York
$3.81B +$4.25M +47,739 +0.1%
Northwestern Mutual Wealth Management
3
Northwestern Mutual Wealth Management
Wisconsin
$3.46B +$33.4M +374,811 +1%
Citigroup
4
Citigroup
New York
$2.51B +$2.19B +24,657,424 +849%
Susquehanna International Group
5
Susquehanna International Group
Pennsylvania
$1.93B +$1.61B +18,067,184 +583%
Morgan Stanley
6
Morgan Stanley
New York
$1.72B -$160M -1,797,755 -9%
BlackRock
7
BlackRock
New York
$1.62B +$7.2M +80,874 +0.5%
UBS Group
8
UBS Group
Switzerland
$1.06B +$32.1M +360,305 +3%
Bank of Montreal
9
Bank of Montreal
Ontario, Canada
$1.04B +$63.5M +713,048 +7%
Fidelity Investments
10
Fidelity Investments
Massachusetts
$690M +$26.9M +302,628 +4%
Envestnet Asset Management
11
Envestnet Asset Management
Illinois
$643M -$791M -8,889,711 -56%
Barclays
12
Barclays
United Kingdom
$528M +$419M +4,702,961 +430%
Goldman Sachs
13
Goldman Sachs
New York
$504M +$179M +2,007,400 +57%
Jane Street
14
Jane Street
New York
$470M -$184M -2,066,013 -29%
Wells Fargo
15
Wells Fargo
California
$408M -$93.5K -1,050 -0%
LPL Financial
16
LPL Financial
California
$399M -$148M -1,657,226 -27%
JP Morgan Chase
17
JP Morgan Chase
New York
$389M -$32.7M -367,550 -8%
NSLI
18
Nan Shan Life Insurance
Taiwan
$364M
Mackenzie Financial
19
Mackenzie Financial
Ontario, Canada
$340M -$16M -179,500 -5%
HPG
20
Harvest Portfolios Group
Ontario, Canada
$331M +$53.3M +599,149 +20%
Ameriprise
21
Ameriprise
Minnesota
$293M -$69.6M -781,591 -20%
Simplex Trading
22
Simplex Trading
Illinois
$278M +$272M +3,057,978 New
Raymond James Financial
23
Raymond James Financial
Florida
$262M +$7.43M +83,460 +3%
Royal Bank of Canada
24
Royal Bank of Canada
Ontario, Canada
$261M +$11.4M +128,031 +5%
AllianceBernstein
25
AllianceBernstein
Tennessee
$250M +$2.76M +30,969 +1%

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.