Core Insights - Coign Capital Advisors disclosed the purchase of 60,906 shares of the F/m US Treasury 3 Month Bill ETF (TBIL) for an estimated $3 million in Q3, increasing its total holding to 218,317 shares valued at approximately $10.9 million as of September 30 [1][2][6] Investment Strategy - The purchase of TBIL represents 6% of Coign Capital Advisors' 13F assets under management (AUM), making it the fund's fourth-largest holding [3][7] - Coign's strategy includes balancing core fixed income exposure with a cash-equivalent anchor, as evidenced by a larger $4.6 million investment in the Eaton Vance Total Return Bond ETF (EVTR) [7] ETF Overview - The F/m US Treasury 3 Month Bill ETF (TBIL) has an AUM of $6 billion, a yield of 4.3%, and a price of $50.02 as of market close on Friday, with no price change over the past year [4][5] Market Context - The growing allocation to short-term Treasuries through TBIL indicates a preference for safety and liquidity amid moderating interest rates [6][7] - TBIL serves as a tactical allocation tool for long-term investors, providing monthly income and flexibility to redeploy cash as interest rates change [9]

Core Viewpoint - The F/m US Treasury 3 Month Bill ETF (NASDAQ:TBIL) is a straightforward investment vehicle primarily holding Treasury bills, offering liquidity and low duration risk, making it a suitable cash substitute rather than a traditional investment [1][3][12]. ETF Overview - TBIL holds a significant amount of U.S. Treasury bills, with the largest holding being a bill maturing on December 26, 2025, valued at approximately $5.04 billion, accounting for 82.71% of the total market value [2]. - The ETF also includes smaller holdings in Treasury bills maturing in January 2026 and a minimal cash component [2]. Investment Strategy - TBIL is recommended as a cash substitute due to its steady price and high liquidity, making it preferable to keeping cash in a checking account [12]. - The ETF provides monthly dividend payments, which enhance its appeal as a cash management tool [3][12]. Comparison with Other ETFs - TBIL is compared to other similar Treasury ETFs, such as iShares 0-3 Month Treasury Bond ETF (SGOV), iShares Short Treasury Bond ETF (SHV), and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL), which offer similar benefits [9][10]. - The expense ratio of TBIL is noted as a potential drawback if it cannot cover its costs, particularly in a low-interest-rate environment [5]. Cash Management Insights - The ETF is viewed as an efficient way to manage idle cash, providing a safe and liquid option for personal or business expenses without the need for extensive market timing [14][15][16]. - It allows investors to maintain flexibility with their cash, enabling them to wait for investment opportunities while still earning a yield [17].