New York, April 20, 2026, 14:38 EDT
Between April 18 and April 20, three reports relying on the latest 13F filings found that money managers boosted their holdings in ProShares UltraPro QQQ during the fourth quarter. Oriental Harbor Investment Master Fund took the most aggressive stance, raising its position to 2.40 million shares—about $126.6 million in value. Q3 Asset Management and Main Street Group wrapped up the period with 234,413 shares and 113,470 shares, respectively.
Though the positions were set up months back, the filings surfaced just as the Nasdaq pulled away from its peak. By late morning Monday, the index slipped 0.55%. Fresh U.S.-Iran strains weighed, coming despite global investors adding a net $28 billion to U.S. stocks since right before the ceasefire announcement.
Institutional managers with over $100 million in reportable securities must file a Form 13F with the SEC every quarter. TQQQ, a leveraged ETF, aims for triple the daily move of the Nasdaq-100 before fees and expenses by using derivatives. According to ProShares, those returns can swing well above or below that target over longer stretches.
Oriental Harbor went big, snapping up 1,200,820 more shares in the fourth quarter. That move brought its total to 2,401,640 shares—enough to make TQQQ the fund’s third-largest holding, representing roughly 9.6% of the overall portfolio, according to the filing summaries.
Q3 Asset Management took a sharper leap percentage-wise, bumping its TQQQ stake up 353.5% after snapping up 182,719 more shares. That pushed the position to roughly $12.36 million, now ranking fourth among the firm’s top holdings. Over at Main Street Group, the move was tamer but still notable—the firm lifted its stake by 82.1%, picking up 51,168 shares for a total around $5.98 million.
TQQQ is hardly a lightweight—ProShares reports net assets at roughly $31.6 billion and a market price pegged at $58.59 on April 17. Nvidia, Apple, Microsoft, and Amazon make up some of the fund’s largest holdings. Investors looking for a twist on that index can check out ProShares’ QLD, which offers 2x bullish exposure; SQQQ, on the other hand, gives a -3x leveraged play for the bears.
It’s part of a wider move back into U.S. risk assets. Since the ceasefire was announced, global investors poured a net $28 billion into U.S. equities. Leveraged ETFs, according to Nomura, scooped up another $27.5 billion in equities over the past week. But systematic positioning, says strategist Joanna Wang, is still “historically light.” Reuters
The trade can reverse quickly. ProShares cautions that TQQQ isn’t designed to achieve triple the Nasdaq-100’s return beyond a single day. Morningstar ETF analyst Bryan Armour, commenting earlier this year, called out the surge in leveraged product launches as evidence of a “growing reliance on speculation.” ProShares
Some bullish voices are bracing for a breather. Victoria Fernandez, chief market strategist at Crossmark Global Investments, called Monday’s dip “not surprising” given last week’s strong rally. With Tesla and other major U.S. names reporting earnings this week, she said, the appetite for tech faces a real test. Reuters
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