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 (IBTG +0.00%) 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
| Metric | Value |
|---|---|
| Price (as of market close Monday) | $22.94 |
| 12-month trailing yield | 4.1% |
| 1-year total return | 3.6% |
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.
