PROSHARES TR TBF
SHRT 20+YR TRE · ETP · CUSIP 74347X849
56
institutional holders
-8 vs Q3 2023
2.0m
shares reported held*
$45.0mreported value*
11 new
15 added
13 reduced
20 sold out
net sold ≈ $34.0m (-1.5m shares)
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $22.11. Options: 3 managers hold calls ($1.5m notional), 2 hold puts ($227.5k).
Trends to Q4 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 94 |
| Q4 2022 | 85 |
| Q1 2023 | 72 |
| Q2 2023 | 66 |
| Q3 2023 | 64 |
| Q4 2023 | 56 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Bought or addedCut or sold out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 31 | 56 |
| Q1 2023 | 28 | 44 |
| Q2 2023 | 25 | 42 |
| Q3 2023 | 29 | 31 |
| Q4 2023 | 26 | 33 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
CallsPuts
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2023 | $1.2m | $1.2m | 0.95 |
| Q2 2023 | $4.0m | $210.4k | 0.05 |
| Q3 2023 | $6.4m | $794.2k | 0.12 |
| Q4 2023 | $1.5m | $227.5k | 0.15 |
Biggest buyers
| JANE STREET GROUP, LLC | Added | +489.8k |
| UBS Group AG | Added | +130.0k |
| MORGAN STANLEY | Added | +102.6k |
| CITADEL ADVISORS LLC | New | +52.7k |
| Lynwood Capital Management Inc. | New | +50.0k |
| AXS Investments LLC | Added | +40.0k |
| HRT FINANCIAL LP | New | +39.7k |
| TWO SIGMA SECURITIES, LLC | New | +26.8k |
| CIBC WORLD MARKET INC. | New | +25.6k |
| Corient Private Wealth LP | New | +23.0k |
Biggest sellers
| MEDICI CAPITAL LLC | Sold out | -690.6k |
| Advisors Preferred, LLC | Sold out | -521.4k |
| Synergy Asset Management, LLC | Sold out | -390.8k |
| Hilltop Holdings Inc. | Sold out | -149.8k |
| LPL Financial LLC | Reduced | -133.0k |
| Dynamic Advisor Solutions LLC | Sold out | -93.2k |
| Deane Retirement Strategies, Inc. | Sold out | -72.7k |
| First Heartland Consultants, Inc. | Sold out | -72.2k |
| Cambridge Investment Research Advisors, Inc. | Sold out | -72.0k |
| Baird Financial Group, Inc. | Reduced | -58.9k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $1.4m63.3k shares |
| CITADEL ADVISORS LLC | Reduced | $115.0k5.2k shares |
| Cutler Group LLC / CA | Reduced | $02.0k shares |
Biggest puts
| CITADEL ADVISORS LLC | Reduced | $214.5k9.7k shares |
| Cutler Group LLC / CA | Reduced | $13.0k7.0k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Holders, Q4 2023
| Manager | Shares | Change |
|---|---|---|
| JANE STREET GROUP, LLC 0.02% of their portfolio | 697.7k $15.4m | Added +489.8k |
| MORGAN STANLEY 0.00% of their portfolio | 230.9k $5.1m | Added +102.6k |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 140.0k $3.1m | Added +5.1k |
| UBS Group AG 0.00% of their portfolio | 136.5k $3.0m | Added +130.0k |
| Sepio Capital, LP 0.24% of their portfolio | 131.6k $2.9m | Added +3.1k |
| AXS Investments LLC 0.37% of their portfolio | 70.0k $1.5m | Added +40.0k |
| LPL Financial LLC 0.00% of their portfolio | 67.9k $1.5m | Reduced -133.0k |
| SSI INVESTMENT MANAGEMENT LLC 0.09% of their portfolio | 55.0k $1.2m | Reduced -10.0k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 52.7k $1.2m | New |
| Lynwood Capital Management Inc. 4.87% of their portfolio | 50.0k $1.1m | New |
| HRT FINANCIAL LP 0.01% of their portfolio | 39.7k $878.0k | New |
| Baird Financial Group, Inc. 0.00% of their portfolio | 38.8k $857.2k | Reduced -58.9k |
| Worth Asset Management, LLC 0.55% of their portfolio | 34.7k $768.0k | Reduced -38.9k |
| SHEPHERD KAPLAN KROCHUK, LLC 0.53% of their portfolio | 29.2k $646.4k | Reduced -3.0k |
| TWIN FOCUS CAPITAL PARTNERS, LLC 0.13% of their portfolio | 29.2k $645.6k | Unchanged |
| Parallax Volatility Advisers, L.P. 0.02% of their portfolio | 29.1k $643.4k | Unchanged |
| TWO SIGMA SECURITIES, LLC 0.03% of their portfolio | 26.8k $592.5k | New |
| CIBC WORLD MARKET INC. 0.00% of their portfolio | 25.6k $567.0k | New |
| Corient Private Wealth LP 0.00% of their portfolio | 23.0k $508.5k | New |
| Geneos Wealth Management Inc. 0.02% of their portfolio | 21.0k $464.3k | Unchanged |
| OPPENHEIMER & CO INC 0.01% of their portfolio | 17.3k $382.0k | New |
| EXECUTIVE WEALTH GROUP LLC 0.22% of their portfolio | 15.6k $344.4k | Added +184 |
| CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio | 12.7k $280.4k | Reduced -2.1k |
| Kovack Advisors, Inc. 0.03% of their portfolio | 12.5k $276.7k | Reduced -3.3k |
| Private Wealth Partners, LLC 0.02% of their portfolio | 10.0k $221.1k | Unchanged |
| Horrell Capital Management, Inc. 0.07% of their portfolio | 10.0k $221.0k | Unchanged |
| Coppell Advisory Solutions LLC 0.02% of their portfolio | 5.6k $124.7k | Added +5.0k |
| PITTENGER & ANDERSON INC 0.00% of their portfolio | 4.4k $97.3k | Unchanged |
| Cullen/Frost Bankers, Inc. 0.00% of their portfolio | 3.0k $66.3k | Added +1.5k |
| BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC 0.01% of their portfolio | 2.8k $61.4k | Unchanged |
| SIMPLEX TRADING, LLC 0.00% of their portfolio | 2.5k $56.0k | New |
| BLAIR WILLIAM & CO/IL 0.00% of their portfolio | 2.4k $52.0k | Unchanged |
| BANK OF MONTREAL /CAN/ 0.00% of their portfolio | 1.4k $30.7k | Unchanged |
| US BANCORP \DE\ 0.00% of their portfolio | 1.1k $24.9k | Unchanged |
| Ancora Advisors LLC 0.00% of their portfolio | 1.1k $24.4k | Reduced -236 |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 896 $19.8k | Reduced -104 |
| CITIGROUP INC 0.00% of their portfolio | 500 $11.1k | Unchanged |
| Parallel Advisors, LLC 0.00% of their portfolio | 492 $10.9k | Reduced -470 |
| LANARK FINANCIAL, INC. 0.00% of their portfolio | 432 $9.0k | Unchanged |
| Tradition Wealth Management, LLC 0.00% of their portfolio | 407 $9.0k | Added +7 |
| NFSG Corp 0.00% of their portfolio | 307 $6.8k | New |
| Cutler Group LLC / CA 0.00% of their portfolio | 200 $4.0k | Reduced -200 |
| Qube Research & Technologies Ltd 0.00% of their portfolio | 199 $4.4k | Reduced -58 |
| Spire Wealth Management 0.00% of their portfolio | 190 $4.4k | Added +4 |
| Global Retirement Partners, LLC 0.00% of their portfolio | 113 $2.6k | Added +1 |
| TD Waterhouse Canada Inc. 0.00% of their portfolio | 101 $2.3k | Added +100 |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 90 $2.0k | Unchanged |
| Avior Wealth Management, LLC 0.00% of their portfolio | 68 $1.5k | Added +1 |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 44 $973 | Added +30 |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 26 $575 | Reduced -229 |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 25 $553 | New |
| Semmax Financial Advisors Inc. 0.00% of their portfolio | 14 $341 | Unchanged |
| Clear Point Advisors Inc. 0.00% of their portfolio | 4 $92 | First filing |
| FMR LLC 0.00% of their portfolio | 1 $22 | New |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 0 $1 | Unchanged |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio | 0 $0 | Unchanged |