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According to his SEC file dated January 21, 2026, SJS Investment Consulting purchased 84,687 shares of Vanguard Institutional Index Fund – 0-3 month Treasury bond ETF (NASDAQ:VBIL). The estimated transaction 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 purchase increased the fund’s stake in VBIL to 1.15% of its 13F assets under management.
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Main funds after presentation:
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NYSEMKT:DFAC: $360.73M (45.6% of AUM)
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NYSEMKT:DFIC: $65.15M (8.2% of AUM)
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NYSEMKT:DUSB: $32.56M (4.1% of AUM)
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NASDAQ:VCRB: $30.00M (3.8% of AUM)
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NYSEMKT:DFSD: $21.18M (2.7% of AUM)
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As of January 20, 2026, VBIL shares were priced at $75.56, up 3.9% from last year; the fund’s annualized dividend yield is 3.11%.
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VBIL closed 0.11% below its 52-week high on 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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It provides exposure to short-term US Treasuries with maturities of three months or less, primarily through a passively traded fund structure.
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It works by tracking a market value-weighted index, using a sampling strategy to replicate the risk and return characteristics of the underlying benchmark index.
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It 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 US Treasury bond 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, attractive to those seeking stable, low-cost exposure to fixed income. Its competitive advantage lies in its transparent structure and its commitment to monitoring high-quality, short-term public 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 is heavily concentrated in actively managed ETFs with more than $360 million in its largest holding, could be hoarding its shorter-duration holdings as a safe haven.
