In the fourth quarter, Nicholas Hoffman & Company acquired 1,411,985 shares of the Vanguard 0-3 Month Treasury Bill ETF (VBIL), representing approximately $106.59 million based on the fund’s average closing prices for the period. Following this transaction, the firm’s total position in VBIL stood at 1,800,411 shares, valued at roughly $135.80 million. VBIL now accounts for 3.15% of Nicholas Hoffman & Company’s Form 13F assets under management. This strategic allocation enhances the firm’s liquidity sleeve with ultra-short U.S. Treasury bills, offering a current SEC yield of 3.56% and virtually no credit risk, while preserving capital and maintaining optionality for future equity or fixed-income deployments.

During the same quarter, Focused Wealth Management liquidated 300,114 shares of VBIL, realizing an estimated $22.66 million. The fund’s quarter-end holding was reduced to 8,506 shares, valued at $641,642, and the overall stake declined to just 0.07% of its reported 13F assets, down from 2.48% in the prior period. This reallocation coincided with a shift back into broad equity and intermediate-term bond exposures, reflecting renewed risk appetite as major stock indices reached fresh highs. By trimming its ultra-short Treasury allocation, Focused Wealth freed up dry powder for higher-return opportunities, while still maintaining a minimal balance in VBIL’s low-volatility, highly liquid cash alternative.

The Vanguard 0-3 Month Treasury Bill ETF holds U.S. Treasury bills maturing in three months or less, operates at a 0.06% expense ratio, and manages over $4.6 billion in assets. Its primary objectives are capital preservation, liquidity and stable income, making it a go-to solution for risk-averse investors and institutions seeking a cash management vehicle. Over the past year, the fund’s share price has remained essentially flat, underscoring its purpose as a parking place for cash rather than a generator of total return. The recent inflows and outflows by two distinct asset managers highlight VBIL’s function as both a tactical liquidity reserve and an operational cash sleeve within broader portfolio strategies.