What a $10 Million Move Into Ultra-Short Treasurys Signals for Long-Term Investors

On January 22, Clear Creek Financial Management disclosed a buy of the Vanguard 0-3 Month Treasury Bill ETF (NASDAQ:VBIL), adding 132,025 shares in a transaction estimated at $9.97 million based on quarterly average pricing.

What happened

According to a SEC filing dated January 22, Clear Creek Financial Management acquired 132,025 additional shares of the Vanguard 0-3 Month Treasury Bill ETF (NASDAQ:VBIL). The estimated transaction value was $9.97 million, calculated using the average closing price for the quarter. Meanwhile, the quarter-end value of the position increased by $9.95 million, a figure that incorporates both the share purchase and price movement.

What else to know

After this buy, VBIL accounts for 1.05% of Clear Creek’s 13F reportable assets under management.

Top five holdings post-filing:

• NYSEMKT:SPYM: $54.89 million (4.5% of AUM)
• NYSEMKT:IVV: $38.23 million (3.1% of AUM)
• NYSEMKT:EFA: $30.39 million (2.5% of AUM)
• NASDAQ:QQQ: $30.12 million (2.5% of AUM)
• NYSEMKT:SPYG: $28.62 million (2.3% of AUM)

As of January 22, VBIL shares were priced at $75.58, up 1% over the past year. Meanwhile, its annualized yield is 3.11%.

Company overview

Company snapshot

• VBIL offers an exchange-traded fund (ETF) that invests in U.S. Treasury bills with maturities of three months or less, providing exposure to short-term government securities.
• The fund generates income by tracking a market value-weighted index of investment-grade Treasury bills, maintaining a portfolio closely aligned with the index through a sampling strategy.
• It targets investors seeking stability, liquidity, and a transparent, low-cost vehicle for short-term capital management.

The Vanguard 0-3 Month Treasury Bill ETF is designed to provide investors with efficient access to the U.S. Treasury bill market, focusing on securities with very short maturities. The fund's disciplined approach aims to minimize interest rate risk while delivering a competitive yield relative to cash alternatives. Its strategy appeals to investors seeking stability, liquidity, and a transparent, low-cost vehicle for short-term capital management.

What this transaction means for investors

With equity exposure still dominating Clear Creek’s portfolio through broad market ETFs like SPYM, IVV, and QQQ, the added Treasury bill exposure reads less like a retreat and more like balance. Ultra-short government paper does something stocks and longer-duration bonds cannot right now: It pays you to wait without taking directional risk.

At current levels, the fund, which has an inception date in February 2025, offers a 30-day SEC yield of 3.58% alongside a rock-bottom 0.07% expense ratio, making it functionally closer to an institutional cash sleeve than a traditional bond allocation. Meanwhile, price volatility remains minimal, with shares up just 1% year over year, which is precisely the point. This is not about chasing returns but about protecting optionality.

Clear Creek also added exposure to a mortgage-backed and low-duration strategy last quarter, reinforcing a pattern of reducing interest-rate sensitivity while keeping dry powder available. In a portfolio still tilted toward equities, that means Treasury bills serve as ballast, not dead weight.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.