On October 17, 2025, Retireful, LLC disclosed in an SEC filing that it sold all 44,750 shares of Vanguard Intermediate-Term Treasury ETF (VGIT +0.17%) in the third quarter, an estimated $2.68 million trade.
What happened
According to a filing with the Securities and Exchange Commission dated October 17, 2025, Retireful, LLC fully exited its position in Vanguard Intermediate-Term Treasury ETF in the third quarter of 2025. The fund sold all 44,750 shares, with an estimated transaction value of $2.68 million based on the average share price for the period. As of September 30, 2025, Retireful reported no remaining shares of VGIT.
What else to know
Retireful, LLC fully exited VGIT, reducing its allocation from 1.8% of AUM in the previous quarter to zero post-trade
Top holdings after the filing:
- SPY: $11.28 million, representing 10.9% of AUM
- GBIL: $3.92 million, representing 3.8% of AUM
- BIL: $3.57 million, representing 3.45% of AUM
- JPST: $3.36 million, representing 3.24% of AUM
- USFR: $2.49 million, representing 2.4% of AUM
As of October 21, 2025, shares of VGIT were priced at $60.53, up 4.4% YTD, underperforming the S&P 500 by 10.3 percentage points; VGIT’s annualized dividend yield stands at 3.7%.
Company overview
| Metric | Value |
|---|---|
| Price (as of October 21,2025) | $60.53 |
| Dividend yield | 3.7% |
| YTD return | 4.4% |
Company snapshot
- Investment strategy: Seeks to track the performance of the Bloomberg U.S. Treasury 3-10 Year Index, focusing on intermediate-term U.S. Treasury bonds
- Portfolio composition: Invests at least 80% of assets in U.S. Treasury securities with maturities between three and 10 years, excluding inflation-protected and floating rate securities
- It operates as a passively managed index ETF, offering broad exposure to U.S. government debt
- Vanguard Intermediate-Term Treasury ETF provides institutional investors with diversified exposure to intermediate-term U.S. Treasury securities. Its focus on government-backed bonds makes it a potential option for investors seeking stable income.
Foolish take
Retireful, LLC recently sold off its entire $2.68 million position in the Vanguard Intermediate-Term Treasury ETF (VGIT). This suggests the company is shifting to shorter-term bonds because of all the ongoing uncertainty with interest rates.
Intermediate treasuries, which mature in three to ten years, have been having a tough time as investors try to figure out when—and how fast—the Federal Reserve will start cutting rates. By dumping their VGIT stake, Retireful is likely trying to reduce their interest rate risk or simply capture the higher yields you can get right now on shorter-term debt.
VGIT itself has gained a steady but modest 4.4% this year, and its 3.7% dividend yield has helped cushion against volatility. This move really highlights how even money managers focused on income are rethinking their bond strategy in this uneven 2025 market. Retireful's move probably isn't a sign that it's pessimistic about Treasuries overall—it's just a smart, tactical adjustment to stay more flexible as the fixed-income markets continue to sort themselves out.
Glossary
ETF (Exchange-Traded Fund): A pooled investment fund traded on stock exchanges, holding assets like stocks or bonds.
13F reportable assets: Assets that institutional investment managers must disclose quarterly to the SEC if above a certain threshold.
AUM (Assets Under Management): The total market value of investments managed by a fund or firm on behalf of clients.
Dividend yield: Annual dividends paid by an investment, expressed as a percentage of its current price.
Annualized dividend yield: The projected yearly dividend income as a percentage of the current share price.
Index ETF: An ETF designed to track the performance of a specific market index.
Passively managed: An investment strategy aiming to replicate an index's performance rather than outperform it through active selection.
Intermediate-term: Refers to bonds or securities with maturities typically between three and 10 years.
Bloomberg U.S. Treasury 3-10 Year Index: A benchmark tracking U.S. Treasury bonds with maturities from three to 10 years.
Portfolio composition: The breakdown of different asset types or securities held within a fund.
Government-backed bonds: Bonds issued by the government, considered low risk due to government repayment guarantees.
Liquidation (in fund context): Selling all holdings of a particular asset, reducing its allocation in the portfolio to zero.
