Belpointe Buys Almost $24 Million in IBTF iShares iBonds ETF

Belpointe Asset Management LLC disclosed a buy of over 1 million shares of the iShares iBonds Dec 2025 Term Treasury ETF (NASDAQ:IBTF). The purchase is worth an estimated $23.44 million, based on quarterly average pricing.

What happened

According to an SEC filing dated October 31, 2025, Belpointe Asset Management increased its stake in the iShares iBonds Dec 2025 Term Treasury ETF. It purchased 1,004,617 shares for around $23,439,441 during the third quarter of 2025.

What else to know

The fund’s buy brings its IBTF position to 1.09% of 13F assets under management (AUM), outside its top five holdings

Here are Belpointe's top holdings after the filing:

• ServiceNow (NYSE:NOW): $156.29 million (5.97% of AUM)
• Nvidia (NASDAQ:NVDA): $71.59 million (2.73% of AUM)
• Invesco QQQ Trust (NASDAQ:QQQ): $70.74 million (2.7025% of AUM)
• SPDR S&P 500 ETF Trust (NYSEMKT:SPY): $65.70 million (2.51% of AUM)
• Apple (NASDAQ:AAPL): $62.98 million (2.41% of AUM)

As of October 31, 2025, IBTF shares were priced at $23.37, unchanged over the past year. IBTF’s 1-year yield was 4.13%.

Company overview

Data as of market close, October 31, 2025.

Company snapshot

The iShares iBonds Dec 2025 Term Treasury ETF offers investors a targeted approach to U.S. Treasury investing by holding a non-diversified portfolio of government bonds maturing in 2025. The fund’s defined maturity structure provides transparency and predictability, appealing to those seeking a specific maturity horizon and regular income distributions.

Its portfolio is composed primarily of U.S. Treasury bonds, with at least 90% of assets in these securities, providing exposure to short-duration government debt. As such, the ETF is positioned as a tool for managing interest rate risk and aligning fixed income allocations with future cash flow needs.

Foolish take

Increasing exposure to short-term treasury bonds can be a defensive move. Bonds that are close to their maturity date act as a relatively low-risk way to generate a fixed income. However, Belpointe Asset Management hasn't significantly upped its holdings; it just shifted the balance of its short-term bond ETFs.

In Q3 2025, it reduced its position in State Street's SPDR Bloomberg 1-3 Month T-Bill ETF (NYSEMKT:BIL) by around $22 million, close to what it spent on the IBTF shares. Throw in its holdings in the iShares 0-3 Month Treasury Bond ETF (NYSEMKT:SGOV), and Belpointe's short-term bonds make up about 3.5% of its AUM in both quarters.

Belpointe, which was named one of Forbes' top RIA Firms for 2024, holds almost 1,000 assets in its extremely diversified portfolio. A large proportion of them are U.S. equities or ETFs that contain them. The firm also holds international investments, fixed-income securities, and some real estate investment trusts (REITs).

Glossary

ETF (Exchange-Traded Fund): An investment fund traded on stock exchanges, holding a basket of assets like stocks or bonds.
AUM (Assets Under Management): The total market value of assets a fund or investment manager oversees on behalf of clients.
13F reportable AUM: The portion of assets that must be reported to the SEC on Form 13F by institutional investment managers.
Dividend yield: The annual dividend income expressed as a percentage of the investment's current market price.
Term ETF: An ETF with a fixed maturity date, after which the fund liquidates and returns assets to investors.
Defined maturity index: An index tracking securities with set maturity dates, guiding the holdings of certain term-based funds.
Short-duration: Refers to bonds or funds with maturities typically less than five years, reducing interest rate risk.
Principal return: Repayment of the original investment amount at the maturity of a bond or term fund.
Non-diversified portfolio: A fund that invests in fewer securities, increasing exposure to specific risks compared to diversified funds.
Interest rate risk: The potential for investment losses due to changes in prevailing interest rates.
Expense ratio: The annual fee, expressed as a percentage of assets, that a fund charges to cover operating costs.

Emma Newbery has positions in Apple and Nvidia. The Motley Fool has positions in and recommends Apple, Nvidia, ServiceNow, and iShares Trust - iShares 0-3 Month Treasury Bond ETF. The Motley Fool has a disclosure policy.