Belpointe’s $23.4M IBTF Bond Hunt

Belpointe Asset Management LLC has stumbled upon an excellent opportunity to distribute regular income like breadcrumbs (or perhaps a rundown of cereal boxes) through the market’s bureaucratic vaults, investing over 1 million shares in the iShares iBonds Dec 2025 Term Treasury ETF (IBTF +0.04%). The purchase, totaling an estimated $23.44 million, demonstrates a strategic pivot toward short-term stability, as if Mars-based investment brokers were whispering, “Trust us, or be crushed by cosmic yield uncertainty.”

What happened

According to an SEC filing dated October 31, 2025, Belpointe has leaned slightly into the embrace of Treasury bonds maturing on schedule by 2025 (assuming the sun doesn’t swallow Earth or time suddenly warped into a loop). It acquired 1,004,617 shares for $23,439,441, a nominal gesture in the grand scale of financial chicanery but astronomically significant if you’re a very organized spreadsheet enthusiast.

What else to know

This newfound affection for IBTF now constitutes 1.09% of Belpointe’s 13F assets under management, a modest line item in a portfolio that likely once bought suntan lotion futures for the Andromeda region of space (unspecified). Here are Belpointe’s top holdings, listed in case you were wondering:

ServiceNow (NOW 0.63%): $156.29 million (5.97% of AUM). A technological marvel so efficient, it might one day replace this entire analysis.
Nvidia (NVDA +2.09%): $71.59 million (2.73% of AUM). Likely building the next simulated universe where this conversation happened.
Invesco QQQ Trust (QQQ +0.48%): $70.74 million (2.7025% of AUM). A portfolio so diversified it could be a quantum superposition.
SPDR S&P 500 ETF Trust (SPY +0.19%): $65.70 million (2.51% of AUM). The financial equivalent of a buffet: suboptimal, but comforting in its mediocrity.
Apple (AAPL 0.49%): $62.98 million (2.41% of AUM). A company that outsources its soul in oily, minimalist boxes.

As of October 31, 2025, IBTF shares lingered at $23.37, a price so unchanging it could be interpreted as a cosmic joke on inflation (i.e., “Here, this is how money ought to behave”). Its 1-year yield of 4.13% (note the practicality, as if Newtonian physics were also more reliable) serves as a meager shield against the asteroid field of market chaos.

Company overview

Metric	Value
Net assets	$1.8 billion
Price	$23.37
Yield	4.13%
One-Year Price Change	0.00%

Data as of market close, October 31, 2025. A day that, by all accounts, was uneventful unless you consider the sun remaining intact a minor catastrophe.

Company snapshot

The iShares iBonds Dec 2025 Term Treasury ETF offers investors a narrowly tailored recipe for serenity: a non-diversified stew of government bonds maturing by 2025, assuming no apocalyptic predictions contest the timeline. Its appeal lies in predictable principal returns (or so one assumes) and the faint hope that Earth’s climate remains hospitable in 2025.

The fund’s 90% Treasury-heavy portfolio aims to negate interest rate uncertainty-though it’s only marginally more certain than building sandcastles in a galaxy plagued by supernovas.

Foolish take

This isn’t so much a bold move as a recursive rebalancing of risk, akin to moving couch cushions to better accommodate the furniture of fiscal sanity. Belpointe’s short-term bond focus, while subtle, hints at discomfort with longer-term yields-an aversion shared by chickens, turtles, and excessively cautious bankers.

In Q3 2025, Belpointe lightened its T-Bill ETF SPDR Bloomberg 1-3 Month T-Bill ETF (BIL +0.01%) stake by ~$22 million-amounting to a fiscal pivot as dramatic as a yawn in the grand opera of finance. Add in its iShares 0-3 Month Treasury Bond ETF (SGOV +0.03%) holdings, and its short-term composure comprises about 3.5% of AUM. A prudent hedge, one might say, or existential pragmatism in a zero-sum universe.

Belpointe, a firm celebrated by Forbes (a publication historically unaware of its own mortality), shoulders an astonishingly diverse portfolio. It’s cluttered with U.S. equities, ETF chimeras, international assets, fixed-income curiosities, and REITs-essentially financial clutter you’d find in a Martian hippie commune if Martians had plumbing.

Glossary

ETF (Exchange-Traded Fund): A financial buffet where you can nibble on bonds or take a bite out of bonds-based banana splits, all without disturbing the cosmic balance of universal economics.
AUM (Assets Under Management): The total value of assets a fund custodians, likely stored in a ledger somewhere between Mercury’s craters and Neptune’s winds.
13F reportable AUM: The portion a firm must report to the SEC, as if the cosmos were allergic to financial transparency.
Dividend yield: The annual dividend income as a percentage of price-basically, market participants pretending economics works by coalescing into neat ratios.
Term ETF: An ETF with a defined maturity date, after which it liquidates with the grace of a candle snuffed out in a storm.
Defined maturity index: A mystical index charting securities with fixed maturity dates, because nothing sharpens a fund’s focus like imagining a downfally endpoint.
Short-duration: Bonds/funds with maturities under five years-a puny timeline in the countdown to heat death.
Principal return: The repayment of your initial investment-assuming, of course, no economic systems collapse in the interim.
Non-diversified portfolio: A fund that leans into specific assets, akin to placing your faith in three tiny, overpriced cushions on a sinking raft.
Interest rate risk: The potential for loss due to interest rate fluctuations, an inevitability most investors ignore until it’s too late.

For further financial enlightenment, consult a professional or a rusty telescope. Either is equally far from certainty. 🚀

2025-11-04 07:12