Invesco DB US Dollar Index Bearish Fund
35 hedge funds and large institutions have $45.8M invested in Invesco DB US Dollar Index Bearish Fund in 2025 Q4 according to their latest regulatory filings, with 9 funds opening new positions, 8 increasing their positions, 10 reducing their positions, and 4 closing their positions.
3,005% more call options, than puts
Call options by funds: $12.4M | Put options by funds: $398K
125% more first-time investments, than exits
New positions opened: 9 | Existing positions closed: 4
13% more funds holding
Funds holding: 31 → 35 (+4)
1.19% less ownership
Funds ownership: 34.19% → 33.01% (-1.2%)
20% less repeat investments, than reductions
Existing positions increased: 8 | Existing positions reduced: 10
26% less capital inflows, than outflows
Capital inflows: $9.8M | Capital outflows: $13.3M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
GA
GFS Advisors
Houston,
Texas
|
+$2.97M |
| 2 |
Alliance Wealth Advisors (Utah)
Centerville,
Utah
|
+$1.52M |
| 3 |
Bank of America
Charlotte,
North Carolina
|
+$667K |
| 4 |
UBS Group
Zurich,
Switzerland
|
+$601K |
| 5 |
Bay Colony Advisors
Concord,
Massachusetts
|
+$427K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
-$6.41M |
| 2 |
Jane Street
New York
|
-$3.12M |
| 3 |
LPL Financial
San Diego,
California
|
-$820K |
| 4 |
Solstein Capital
Menlo Park,
California
|
-$809K |
| 5 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$403K |
UDN Hedge Fund Activity: Q4 2025 in Review
35 of the 8,303 institutional investors tracked by Wall St. Rank reported a position in Invesco DB US Dollar Index Bearish Fund (UDN) for Q4 2025, worth a combined $45.8M — down 11% from $51.5M a quarter earlier.
Buyers outnumbered sellers: 9 funds opened new UDN positions and 4 closed out — a net gain of 5 holders — while 8 added to existing stakes and 10 trimmed.
The largest buyer was GFS Advisors, opening a new position worth an estimated $2.97M. The largest seller was Morgan Stanley, cutting an estimated $6.41M.
- 35 institutional investors held Invesco DB US Dollar Index Bearish Fund (UDN) as of Q4 2025, up from 31 in Q3 2025.
- Funds reported $45.8M of Invesco DB US Dollar Index Bearish Fund stock for Q4 2025, down 11% quarter-over-quarter.
- 9 funds opened new Invesco DB US Dollar Index Bearish Fund positions in Q4 2025 and 4 closed out, a net change of +5 holders.
- The largest Invesco DB US Dollar Index Bearish Fund buyer in Q4 2025 was GFS Advisors, an estimated $2.97M added.
- The largest Invesco DB US Dollar Index Bearish Fund seller in Q4 2025 was Morgan Stanley, an estimated $6.41M sold.
Based on aggregated 13F filings for Q4 2025.