Cash Trimmed, Not Abandoned

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Right. So, Jim Saulnier & Associates. They’ve been having a little… tidy-up. Sold off about $5.82 million worth of that Vanguard 0-3 Month Treasury Bill ETF (VBIL, if you’re keeping score). Honestly, it’s a relief. It’s easy to get carried away, isn’t it? Accumulating… things. Cash, in this case. It just sits there, looking safe. But safe doesn’t do anything. It’s like a sensible pair of shoes. Utterly necessary, but not exactly thrilling.

Apparently, they shifted 77,109 shares during the last quarter. A substantial chunk, yes. But it’s not a panic, I don’t think. More a… recalibration. Like deciding you don’t need all seven cardigans, even though they were on sale. The fund’s overall holding in VBIL is down a bit in value – $5.86 million, factoring in both the sale and… well, the market doing its thing. Which it always does, doesn’t it? It’s terribly distracting.

Currently, VBIL makes up about 5.55% of their $192.93 million in assets. Which is… a respectable amount, I suppose. Not enough to fund a small island, but certainly not insignificant. It’s the kind of percentage that feels… responsible. Like having a savings account. Or at least thinking about opening a savings account.

Their top holdings, as of the last filing, look like this:

  • NYSEMKT:AOR: $25.49 million (13.2% of AUM) – Sounds… solid.
  • NYSEMKT:AOA: $17.19 million (8.9% of AUM) – More solidity. I’m sensing a theme.
  • NASDAQ:VBIL: $10.70 million (5.6% of AUM) – Still hanging in there. Good for it.
  • NYSEMKT:VEA: $7.31 million (3.8% of AUM) – A bit exotic, perhaps?
  • NYSEMKT:BIL: $3.92 million (2.0% of AUM) – More short-term stuff. Sensible.

As of January 28th, VBIL was trading at $75.62, up a smidge over the year. And the 30-day SEC yield was 3.56%. Not going to make anyone a millionaire overnight, but it’s better than nothing. Which, let’s be honest, is often the best we can hope for.

Just to recap, because my memory is like a sieve: VBIL is an ETF that tracks those super-short-term U.S. Treasury bills. It’s basically a way to park your cash somewhere safe and earn a tiny bit of interest. It’s not glamorous, but it’s… reliable. Like a slightly boring friend.

Here’s a little list I made, to help me understand it all (and also because I like lists):

  • Price (Jan 28): $75.62
  • Market Cap: $4.64 billion (Impressive, if you think about it)
  • 30-day SEC Yield: 3.56% (Not exactly a fortune, but…)

So, what does all this mean for us, the investors? Well, Jim Saulnier & Associates isn’t running for the hills. They’re just… adjusting. Fine-tuning. They’re not abandoning liquidity entirely. They’re acknowledging that idle cash has a cost. Which is… surprisingly profound, when you think about it.

VBIL is still a perfectly good way to “park” your cash. It’s cheap (0.06% expense ratio), virtually risk-free, and reasonably liquid. It does exactly what it says on the tin. Which is… refreshing, in a world full of hype and empty promises.

And, crucially, they’ve still got a good chunk of their portfolio in those broader, growth-oriented funds. Cash-like holdings still account for over 5% of their assets. A decent buffer, I think. It’s not about chasing cash or discarding it. It’s about… sizing it. Like choosing the right pair of jeans. Not too tight, not too loose. Just… right.

Units of VBIL held: Unknown. Hours spent researching Treasury Bills: 4. Number of times I questioned my life choices: Too many to count.

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2026-02-02 13:03