Vigilare Reduces SHY Holding Amid Rate-Cut Uncertainty
Key Points
Sold 105,476 shares, with an estimated value of $8.72 million
Trade accounted for 3.0% of 13F reportable AUM
Post-trade stake: 35,337 shares, valued at $2.93 million on September 30, 2025
Position now represents 1.0% of AUM, placing it outside the fund’s top five holdings
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Vigilare Dumps 105K SHY Shares Worth $8.7 Million
Vigilare Wealth Management disclosed selling 105,476 shares ofiShares Trust - iShares 1-3 Year Treasury Bond ETF(NASDAQ:SHY) during Q3 2025, an estimated trade value of $8.72 million, according to an SEC filing dated October 1, 2025.
What happened
According to an SEC filing dated October 1, 2025, Vigilare Wealth Management reduced its position in iShares Trust - iShares 1-3 Year Treasury Bond ETF by 105,476 shares. The estimated trade value was $8.72 million based on average closing prices from July through September 2025. The fund now reports holding 35,337 shares, with the position valued at $2.93 million.
What else to know
The fund sold down the SHY position, which now comprises 1.0% of 13F reportable AUM.
Top holdings after the filing:
- UNK:PYLD: $36.31 million (12.6% of AUM) as of September 30, 2025
- UNK:GLD: $28.29 million (9.8% of AUM) as of September 30, 2025
- VB: $14.62 million (5.1% of AUM) as of September 30, 2025
- SPMO: $14.51 million (5.0% of AUM) as of September 30, 2025
- UNK:SGOV: $14.19 million (4.9% of AUM) as of September 30, 2025
As of September 30, 2025, shares were priced at $82.96; one-year return stood at -0.23%, underperforming the S&P 500 by 12.95 percentage points over the same period
Company overview
| Metric | Value |
|---|---|
| AUM | $23.92 billion |
| Dividend Yield | 3.90% |
| Price (as of market close October 1, 2025) | N/A |
| 1-Year Price Change | (0.23%) |
Company snapshot
Investment strategy focuses on tracking an index of U.S. Treasury bonds with remaining maturities between one and three years, aiming to provide exposure to short-term government debt instruments.
The underlying portfolio is composed almost entirely of U.S. Treasury securities, ensuring high credit quality and minimal credit risk.
Structured as a passively managed ETF, the fund provides short-duration fixed income exposure by tracking an index of U.S. Treasury bonds with remaining maturities between one and three years.
iShares 1-3 Year Treasury Bond ETF (SHY) provides targeted access to government bonds with maturities of one to three years.
Foolish take
Vigilare Wealth Management reduced its position in the iShares 1–3 Year Treasury Bond ETF (SHY) by 105,476 shares, leaving the fund at about 1.0% of reportable assets. SHY invests in U.S. Treasuries that mature in one to three years, so its returns depend more on short-term yields than price swings. That helps explain its one-year return of about –0.2%, even as equities advanced.
A trim of this size may reflect rebalancing or client flows, especially since cash-like SGOV ranks among Vigilare’s larger holdings. Funds also often use SHY as a cash management tool, so adjustments in weight can reflect liquidity needs as much as market views.
By itself, one filing is not a strong signal, however in the context of broader flows it can help frame how institutions are positioning. The key to watch for investors is whether managers stay parked in near-cash, which could suggest caution on rate cuts. A move into longer-duration ETFs like IEF or TLT would be a clearer signal that institutions see policy easing on the horizon.
Glossary
ETF (Exchange-Traded Fund):An investment fund traded on stock exchanges, holding assets like stocks or bonds.
AUM (Assets Under Management):The total market value of all assets managed by a fund or investment firm.
13F reportable:Refers to holdings that must be disclosed by institutional investment managers in quarterly SEC Form 13F filings.
Dividend Yield:Annual dividends paid by a fund or stock, expressed as a percentage of its current price.
Short-duration fixed income:Bonds or debt securities with relatively short maturities, typically less sensitive to interest rate changes.
Passively managed:Investment strategy aiming to replicate the performance of a specific index, rather than actively selecting securities.
Credit risk:The risk that a bond issuer may fail to make required interest or principal payments.
U.S. Treasury securities:Debt instruments issued by the U.S. government, considered to have very low default risk.
Index tracking:An investment approach where a fund aims to mirror the performance of a specific market index.
Stake:The amount or percentage of ownership an investor holds in a particular security or fund.
Top holdings:The largest individual investments within a fund's portfolio, often representing a significant portion of its assets.
Underperforming the S&P 500:Achieving a lower return than the S&P 500 index over a specified period.
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