According to its SEC filing dated January 21, 2026, SJS Investment Consulting bought 84,687 shares of Vanguard Institutional Index Fund – 0-3 Months Treasury Bill ETF (NASDAQ:VBIL). The transaction’s estimated value is $6.39 million, based on the average closing price during the fourth quarter of 2025. The fund’s VBIL position ended the quarter with a total value of $9.07 million, up $6.38 million from the previous period.
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This buy increased the fund’s VBIL stake to 1.15% of its 13F reportable assets under management.
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Top holdings after the filing:
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NYSEMKT:DFAC: $360.73 million (45.6% of AUM)
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NYSEMKT:DFIC: $65.15 million (8.2% of AUM)
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NYSEMKT:DUSB: $32.56 million (4.1% of AUM)
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NASDAQ:VCRB: $30.00 million (3.8% of AUM)
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NYSEMKT:DFSD: $21.18 million (2.7% of AUM)
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As of January 20, 2026, VBIL shares were priced at $75.56, up 3.9% over the past year; the fund’s annualized dividend yield is 3.11%.
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VBIL closed 0.11% below its 52-week high as of January 20, 2026.
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SJS Investment Consulting Inc. reported 2,087 positions and total 13F reportable AUM of $790.38 million as of December 31, 2025.
|
Metric |
Value |
|---|---|
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Price (as of market close 2026-01-20) |
$75.56 |
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Expense Ratio |
0.07% |
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Dividend Yield |
3.56% |
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Offers exposure to short-term U.S. Treasury bills with maturities of three months or less, primarily through a passively managed exchange-traded fund structure.
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Operates by tracking a market value-weighted index, employing a sampling strategy to replicate the risk and return characteristics of the underlying benchmark.
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Serves institutional and individual investors seeking low-cost, liquid access to high-quality government securities.
Vanguard Institutional Index Fund – 0-3 Months Treasury Bill ETF provides investors with efficient access to the U.S. Treasury bill market, focusing on securities with ultra-short maturities to minimize interest rate risk and maintain high liquidity. The fund’s disciplined, index-tracking approach is designed to deliver consistent returns that closely mirror its benchmark, appealing to those seeking low-cost, stable fixed income exposure. Its competitive advantage lies in its transparent structure and commitment to tracking high-quality, short-duration government debt instruments.
SJS Investment Consulting’s move to more than double its Treasury bill position signals a defensive shift in cash management strategy. The firm, which concentrates heavily in actively managed ETFs with over $360 million in its largest equity holding, could be building up its shortest-duration holdings as a safe harbor.