F/m US Treasury 3 Month Bill Fund
TBIL
266 hedge funds and large institutions have $2.45B invested in F/m US Treasury 3 Month Bill Fund in 2025 Q1 according to their latest regulatory filings, with 56 funds opening new positions, 117 increasing their positions, 73 reducing their positions, and 32 closing their positions.
75% more first-time investments, than exits
New positions opened: 56 | Existing positions closed: 32
60% more repeat investments, than reductions
Existing positions increased: 117 | Existing positions reduced: 73
8% more funds holding
Funds holding: 247 → 266 (+19)
0.31% less ownership
Funds ownership: 46.44% → 46.13% (-0.31%)
5% less funds holding in top 10
Funds holding in top 10: 21 → 20 (-1)
42% less capital invested
Capital invested by funds: $4.23B → $2.45B (-$1.77B)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$92.2M |
| 2 |
LPL Financial
San Diego,
California
|
+$55.4M |
| 3 |
MSAM
Moloney Securities Asset Management
Manchester,
Missouri
|
+$33.9M |
| 4 |
Renaissance Technologies
New York
|
+$22.5M |
| 5 |
Raymond James Financial
St Petersburg,
Florida
|
+$22.4M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
IAA
Independent Advisor Alliance
Charlotte,
North Carolina
|
-$66.1M |
| 2 |
Lido Advisors
Los Angeles,
California
|
-$16.6M |
| 3 |
ACM
Alpha Capital Management
Austin,
Texas
|
-$11.4M |
| 4 |
RC
Rareview Capital
Las Vegas,
Nevada
|
-$8.41M |
| 5 |
VWM
VanWeelden Wealth Management
West Chester Township,
Ohio
|
-$7.52M |
TBIL Hedge Fund Activity: Q1 2025 in Review
266 of the 7,458 institutional investors tracked by Wall St. Rank reported a position in F/m US Treasury 3 Month Bill Fund (TBIL) for Q1 2025, worth a combined $2.45B — down 42% from $4.23B a quarter earlier.
Buyers outnumbered sellers: 56 funds opened new TBIL positions and 32 closed out — a net gain of 24 holders — while 117 added to existing stakes and 73 trimmed.
The largest buyer was Morgan Stanley, adding an estimated $92.2M. The largest seller was Independent Advisor Alliance, exiting entirely with an estimated $66.1M sold.
- 266 institutional investors held F/m US Treasury 3 Month Bill Fund (TBIL) as of Q1 2025, up from 247 in Q4 2024.
- Funds reported $2.45B of F/m US Treasury 3 Month Bill Fund stock for Q1 2025, down 42% quarter-over-quarter.
- 56 funds opened new F/m US Treasury 3 Month Bill Fund positions in Q1 2025 and 32 closed out, a net change of +24 holders.
- The largest F/m US Treasury 3 Month Bill Fund buyer in Q1 2025 was Morgan Stanley, an estimated $92.2M added.
- The largest F/m US Treasury 3 Month Bill Fund seller in Q1 2025 was Independent Advisor Alliance, an estimated $66.1M sold.
Based on aggregated 13F filings for Q1 2025.