In the fourth quarter, Nicholas Hoffman & Company acquired 1,411,985 shares of the Vanguard 0-3 Month Treasury Bill ETF (VBIL), deploying an estimated $106.59 million based on the quarter’s average closing prices. This transaction lifted the firm’s total VBIL stake to 1,800,411 shares, valued at approximately $135.80 million, representing 3.15% of its reported 13F assets. The purchase underscores the manager’s emphasis on maintaining a liquid, low-duration allocation with a 30-day SEC yield of 3.56% and an expense ratio of just 0.06%.

Also in Q4, Focused Wealth Management sold 300,114 VBIL shares for an estimated $22.66 million. Following the sale, the manager held just 8,506 shares, worth $641,642 at quarter end, reducing VBIL to 0.07% of its 13F assets, down from 2.48%. This shift coincided with broad equity allocations climbing above 40% and suggests redeployment of short-term cash into higher-growth opportunities as market volatility eased.

Westfuller Advisors increased its VBIL allocation by purchasing 42,962 shares, a trade valued at approximately $3.24 million using average quarterly pricing. The addition bolstered the advisor’s cash-equivalent sleeve, reflecting continued confidence in ultra-short Treasury bills for liquidity management. With net assets of $4.64 billion, VBIL remains positioned as a tactical parking spot rather than a return engine.

SJS Investment acquired 84,687 VBIL shares in the same period, committing an estimated $6.39 million to the ETF. This move expanded the firm’s ultra-short Treasury holdings, enhancing its ready-cash component with an instrument offering negligible credit risk and minimal duration exposure. The purchase aligns with SJS’s broader strategy of balancing equity and fixed-income allocations while preserving immediate liquidity.