iShares 20+ Year Treasury Bond ETF
1,101 hedge funds and large institutions have $32.2B invested in iShares 20+ Year Treasury Bond ETF in 2026 Q1 according to their latest regulatory filings, with 120 funds opening new positions, 432 increasing their positions, 417 reducing their positions, and 156 closing their positions.
25% more call options, than puts
Call options by funds: $18.1B | Put options by funds: $14.5B
7% more funds holding in top 10
Funds holding in top 10: 90 → 96 (+6)
4% more repeat investments, than reductions
Existing positions increased: 432 | Existing positions reduced: 417
4.49% less ownership
Funds ownership: 79.96% → 75.47% (-4.5%)
5% less funds holding
Funds holding: 1,155 → 1,101 (-54)
16% less capital invested
Capital invested by funds: $38.3B → $32.2B (-$6.08B)
23% less first-time investments, than exits
New positions opened: 120 | Existing positions closed: 156
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of Montreal
Toronto,
Ontario, Canada
|
+$428M |
| 2 |
BHCM
Brevan Howard Capital Management
St. Helier,
Jersey
|
+$228M |
| 3 |
BlackRock
New York
|
+$197M |
| 4 |
BNP Paribas Financial Markets
Paris,
France
|
+$142M |
| 5 |
Goldman Sachs
New York
|
+$114M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of America
Charlotte,
North Carolina
|
-$2.15B |
| 2 |
Citigroup
New York
|
-$867M |
| 3 |
Jane Street
New York
|
-$802M |
| 4 |
Morgan Stanley
New York
|
-$705M |
| 5 |
Rafferty Asset Management
New York
|
-$647M |
TLT Hedge Fund Activity: Q1 2026 in Review
1,101 of the 8,208 institutional investors tracked by Wall St. Rank reported a position in iShares 20+ Year Treasury Bond ETF (TLT) for Q1 2026, worth a combined $32.2B — down 16% from $38.3B a quarter earlier.
Sellers outnumbered buyers: 156 funds closed out of TLT and 120 opened new positions — a net loss of 36 holders — while 417 trimmed existing stakes and 432 added.
The largest buyer was Bank of Montreal, adding an estimated $428M. The largest seller was Bank of America, cutting an estimated $2.15B.
- 1,101 institutional investors held iShares 20+ Year Treasury Bond ETF (TLT) as of Q1 2026, down from 1,155 in Q4 2025.
- Funds reported $32.2B of iShares 20+ Year Treasury Bond ETF stock for Q1 2026, down 16% quarter-over-quarter.
- 120 funds opened new iShares 20+ Year Treasury Bond ETF positions in Q1 2026 and 156 closed out, a net change of -36 holders.
- The largest iShares 20+ Year Treasury Bond ETF buyer in Q1 2026 was Bank of Montreal, an estimated $428M added.
- The largest iShares 20+ Year Treasury Bond ETF seller in Q1 2026 was Bank of America, an estimated $2.15B sold.
Based on aggregated 13F filings for Q1 2026.