Treasury Bill Shuffle: A Hint of Adventure?

A curious transaction has come to our attention. Strong Tower Advisory Services, a firm that clearly appreciates liquidity—or perhaps, a change of scenery—has relieved itself of its entire $17.14 million stake in the F/m US Treasury 3 Month Bill ETF (TBIL +0.06%). A complete evacuation, as it were. One imagines the portfolio managers, not fleeing a sinking ship, but rather, preparing for a slightly more… spirited voyage.

The Disappearance Act

The SEC filings, those bureaucratic scrolls detailing the comings and goings of capital, reveal that Strong Tower offloaded 342,799 shares during the last quarter. A tidy sum, vanished into the ether of the market. One wonders if they mistook the ETF for a particularly dull relative, finally severing ties. The fund’s value, at quarter’s end, felt the loss acutely.

What Remains in the Vault

Let us examine the treasures Strong Tower still clings to, those glittering prizes that have captured their fancy:

NYSEMKT:LQD: $28.54 million (5.1% of AUM)
NYSEMKT:BINC: $26.39 million (4.7% of AUM)
NASDAQ:NVDA: $24.68 million (4.4% of AUM)
NYSEMKT:BLV: $21.82 million (3.9% of AUM)
NASDAQ:MSTR: $19.56 million (3.5% of AUM)

A decidedly more ambitious collection. Bonds, of course, provide a certain… stability. But NVDA and MSTR? Ah, now we’re talking. A touch of the gambler, perhaps? Or simply a keen eye for the potential of silicon and digital treasure?

A Closer Look at the Bill

As of January 22nd, TBIL shares traded at a modest $49.98 – about as exciting as watching paint dry, frankly. The yield, a respectable 4.06%, is enough to keep the moths at bay, but hardly enough to fund a lavish lifestyle. Still, it’s a safe harbor, a place to park capital when the seas of speculation grow rough. One might say it’s the financial equivalent of a very comfortable, but exceedingly plain, armchair.

The Fund’s Particulars

Metric	Value
AUM	$6.31 billion
Yield	4.06%
Price (as of January 22)	$49.98
1-year total return	4.13%

The ETF in Brief

TBIL’s strategy is simplicity itself: track the latest 3-month Treasury bill. A bit like following a particularly predictable snail.
The portfolio consists of a single bill, rolled monthly. A monotonous existence, but undeniably secure.
An ETF, offering daily liquidity. Convenient, certainly. But does convenience always equate to excitement?

The F/m US Treasury 3 Month Bill ETF, in essence, provides access to short-term government debt. A reliable, if unremarkable, instrument. It’s a tool for those who prioritize capital preservation over extravagant gains. A sensible choice, perhaps, for those who fear adventure.

What Does This All Mean?

Ultra-short Treasury ETFs are, let’s be honest, designed to avoid making money. They are the financial equivalent of a fire extinguisher – useful in an emergency, but hardly a source of joy. When opportunity cost rises – when something else promises a more substantial return – these funds are often the first to be sacrificed. It’s a simple equation: a stagnant pond will eventually be drained to irrigate a more promising field.

Strong Tower, it seems, has decided that its cash is better employed elsewhere. Perhaps they’ve spotted a golden opportunity, a scheme so brilliant it would make even the most seasoned con artist blush. Or maybe they simply grew tired of watching their capital gather dust. Whatever the reason, their exit is a subtle signal: when cash stops pulling its weight, it’s time to put it to work. After all, even a perfectly good fire extinguisher is useless if there’s no fire to put out.

2026-02-02 13:22