F/m US Treasury 3 Month Bill Fund
TBIL
306 hedge funds and large institutions have $2.82B invested in F/m US Treasury 3 Month Bill Fund in 2025 Q4 according to their latest regulatory filings, with 49 funds opening new positions, 131 increasing their positions, 95 reducing their positions, and 23 closing their positions.
236% more capital inflows, than outflows
Capital inflows: $388M | Capital outflows: $115M
113% more first-time investments, than exits
New positions opened: 49 | Existing positions closed: 23
38% more repeat investments, than reductions
Existing positions increased: 131 | Existing positions reduced: 95
7% more funds holding
Funds holding: 287 → 306 (+19)
3.94% more ownership
Funds ownership: 43.46% → 47.4% (+3.9%)
0% more funds holding in top 10
Funds holding in top 10: 21 → 21 (0)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$51.7M |
| 2 |
AQR Capital Management
Greenwich,
Connecticut
|
+$35M |
| 3 |
Mariner
Overland Park,
Kansas
|
+$27.8M |
| 4 |
MML Investors Services
Springfield,
Massachusetts
|
+$24.5M |
| 5 |
Mirae Asset Global Investments
Seoul,
South Korea
|
+$22.6M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
STAS
Strong Tower Advisory Services
Minneapolis,
Minnesota
|
-$17.1M |
| 2 |
Integrated Wealth Concepts
Waltham,
Massachusetts
|
-$15.6M |
| 3 |
Tower Research Capital (TRC)
New York
|
-$10.9M |
| 4 |
Scotia Capital
Toronto,
Ontario, Canada
|
-$6.58M |
| 5 |
WA
Wealthstar Advisors
Plano,
Texas
|
-$6.45M |
TBIL Hedge Fund Activity: Q4 2025 in Review
306 of the 8,288 institutional investors tracked by Wall St. Rank reported a position in F/m US Treasury 3 Month Bill Fund (TBIL) for Q4 2025, worth a combined $2.82B — up 8.8% from $2.59B a quarter earlier.
Buyers outnumbered sellers: 49 funds opened new TBIL positions and 23 closed out — a net gain of 26 holders — while 131 added to existing stakes and 95 trimmed.
The largest buyer was Morgan Stanley, adding an estimated $51.7M. The largest seller was Strong Tower Advisory Services, exiting entirely with an estimated $17.1M sold.
- 306 institutional investors held F/m US Treasury 3 Month Bill Fund (TBIL) as of Q4 2025, up from 287 in Q3 2025.
- Funds reported $2.82B of F/m US Treasury 3 Month Bill Fund stock for Q4 2025, up 8.8% quarter-over-quarter.
- 49 funds opened new F/m US Treasury 3 Month Bill Fund positions in Q4 2025 and 23 closed out, a net change of +26 holders.
- The largest F/m US Treasury 3 Month Bill Fund buyer in Q4 2025 was Morgan Stanley, an estimated $51.7M added.
- The largest F/m US Treasury 3 Month Bill Fund seller in Q4 2025 was Strong Tower Advisory Services, an estimated $17.1M sold.
Based on aggregated 13F filings for Q4 2025.