This Firm Is Locking In Yields with Treasuries — Here’s What Investors Should Know

Florida-based Moseley Investment Management reported purchasing 154,978 shares of IBTG for an estimated $3.5 million in its SEC filing for the period ended September 30.

What Happened

According to a filing with the Securities and Exchange Commission released on Monday, Moseley Investment Management increased its position in the iShares iBonds Dec 2026 Term Treasury ETF (NASDAQ:IBTG) by 154,978 shares during the third quarter. The estimated transaction value, based on the quarter’s average price, was $3.5 million. The fund now holds 366,533 shares of IBTG valued at $8.4 million as of September 30.

What Else to Know

Top holdings after the filing:

• NASDAQ:AAPL: $18.6 million (5.7% of AUM)
• NASDAQ:IBTI: $14.6 million (4.4% of AUM)
• NASDAQ:IBTF: $14.2 million (4.3% of AUM)
• NASDAQ:GOOGL: $12.4 million (3.8% of AUM)
• NASDAQ:MSFT: $12.1 million (3.7% of AUM)

As of Monday's market close, shares of IBTG were priced at $22.94, up about 0.3% over the year, compared to an 18% gain for the S&P 500.

ETF Overview

ETF Snapshot

• IBTG seeks to track the investment results of an index of U.S. Treasury securities maturing in 2026.
• The portfolio consists primarily of publicly issued U.S. Treasury securities scheduled to mature between January 1, 2026 and December 15, 2026, with at least 90% of assets in Treasuries.
• It's structured as a term ETF with a defined maturity, offering targeted fixed income exposure; expense ratio not disclosed.

The iShares iBonds Dec 2026 Term Treasury ETF (IBTG) offers investors a targeted approach to U.S. Treasury exposure, with a defined maturity and a focus on capital preservation and income generation. The fund's strategy centers on holding U.S. Treasury securities maturing in 2026, offering clarity on duration and risk profile. As a term ETF, IBTG follows a transparent, rules-based process.

Foolish Take

Moseley Investment Management’s increased exposure to Treasury ETFs this quarter suggests a clear defensive tilt, with the Florida-based firm purchasing 154,978 shares of the iShares iBonds Dec 2026 Term Treasury ETF (IBTG), worth about $3.5 million, while also adding to IBTI, another short-term Treasury fund, in the same period.

The move came as major equity positions like Apple, Microsoft, and Alphabet remained among its top holdings—potentially a sign of rebalancing rather than retreat. Both IBTG and IBTI are term ETFs that hold U.S. Treasury bonds maturing in specific years, giving investors predictable durations and a clearer yield outlook.

With an average 3.7% yield to maturity, 0.67-year duration, and 0.07% expense ratio, IBTG offers a relatively low-risk option for capital preservation while still generating steady income. For long-term investors, Moseley’s activity underscores a prudent trend among wealth managers—using defined-maturity Treasury ETFs to lock in yields and manage duration risk as equity valuations stretch.

Glossary

13F reportable assets: Assets that institutional investment managers must disclose quarterly to the SEC, showing holdings in certain securities.

Assets under management (AUM): The total market value of investments managed by a fund or investment firm on behalf of clients.

ETF (Exchange-Traded Fund): An investment fund traded on stock exchanges, holding assets like stocks or bonds and typically tracking an index.

Term ETF: An ETF with a fixed maturity date, at which point it liquidates and returns proceeds to investors.

Dividend yield: Annual dividends paid by an investment, expressed as a percentage of its current price.

U.S. Treasury securities: Debt instruments issued by the U.S. government to finance its operations, considered low-risk investments.

Defined maturity: A set date when a fund or security will mature and return principal to investors.

Duration: A measure of a bond or portfolio's sensitivity to interest rate changes, expressed in years.

Capital preservation: An investment strategy focused on preventing loss of principal.

Rules-based process: An investment approach that follows predetermined, systematic criteria rather than discretionary decisions.

Expense ratio: The annual fee, as a percentage of assets, that a fund charges to cover operating costs.

Index: A benchmark representing a group of securities, used to measure performance or guide investment strategies.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Apple, and Microsoft. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.