Fund · PIMCO Ultra Short Government Active Exchange-Traded Fund · measured from SEC filings
BILZ holdings
BILZ reports 5 holdings and behaves like 4.1 equally weighted ones, computed from its SEC Form N-PORT filing for 2026-06-30. The fact sheet publishes the first number; this page computes the second, and traces it across 13 quarters of filings.
Measured concentration
as of 2026-06-30Read this figure with the following in mind
100% held in short-term investment vehicles: this is a cash-like fund, and its holding count measures something different
The figure below is what the filing says, published unchanged. What it may not do is sit beside a plain long-only fund and be read as the same quantity. How comparability is decided.
Computed by this site from the fund's SEC Form N-PORT filing; what the measure does not tell you · every fund in one table · hold it with other funds? X-ray the mix. Pricing: 0% at a quoted market price (level 1), one issuer country.
What stands out
as of 2026-06-30BILZ's largest investment is U.S. Treasury Bills at 45.05% of net assets. U.S. Treasury Bills and U.S. Treasury Bills follow; the three together are 92.76%. Ten companies are 100% of the fund; the other -5 share the rest. Among the 12 short-term funds measured here, BILZ behaves like 4.1 holdings against a median of 9.5 — 2.3 times more concentrated than the median. Across 13 quarterly filings BILZ has become less concentrated: it behaved like 2.3 at 2023-06-30 and 4.1 at 2026-06-30. Between the 2026-03-31 and 2026-06-30 filings 4 positions were added and 3 dropped; 82.4% of the weight moved.
Each sentence is read from the fund's own SEC filing; the class median is computed across the comparable short-term funds on this site. Nothing here is a view on the fund.
Every filing since 2023
13Between 2023-06-30 and 2026-06-30, BILZ went from behaving like 2.3 equally weighted positions to 4.1 — 78% more, while its top ten went from 100% to 100% of net assets. Read across the funds on the concentration-over-time table.
| Period | Holdings | Effective | Top 10 | Largest |
|---|---|---|---|---|
| 2026-06-30 | 5 | 4.1 | 100% | 37.13% |
| 2026-03-31 | 4 | 2.1 | 100% | 66.23% |
| 2025-12-31 | 7 | 4.5 | 100% | 31.68% |
| 2025-09-30 | 5 | 2.3 | 100% | 62.04% |
| 2025-06-30 | 17 | 11.7 | 87.22% | 14.4% |
| 2025-03-31 | 9 | 5 | 100% | 31.64% |
| 2024-12-31 | 9 | 4.9 | 100% | 31.63% |
| 2024-09-30 | 6 | 4.4 | 100% | 35.79% |
Earlier filings (5 more, back to 2023-06-30)
| Period | Holdings | Effective | Top 10 | Largest |
|---|---|---|---|---|
| 2024-06-30 | 13 | 10.8 | 89.9% | 16.09% |
| 2024-03-31 | 10 | 7.2 | 100% | 23.96% |
| 2023-12-31 | 9 | 5.5 | 100% | 25.5% |
| 2023-09-30 | 13 | 6.2 | 96.68% | 31.58% |
| 2023-06-30 | 7 | 2.3 | 100% | 63.12% |
One row per filed reporting period, newest first, read from EDGAR. Quarterly because that is the public filing cadence. Rows marked * are published but held out of the comparison above; the methodology page says when and why.
Largest positions, as filed
as of 2026-06-30The 5 largest of 5 positions in BILZ's Form N-PORT, weight as a share of net assets, securities-lending collateral excluded. Every position, every quarter: BILZ.csv.gz.
| # | Position | Weight | Cumulative |
|---|---|---|---|
| 1 | United States Treasury | 37.13% | 37.1% |
| 2 | United States Treasury | 21.74% | 58.9% |
| 3 | United States Treasury | 17.58% | 76.5% |
| 4 | United States Treasury | 12.72% | 89.2% |
| 5 | United States Treasury | 10.83% | 100.0% |
Returns the fund reported
2023-06 – 2026-06Monthly total returns from Item B.5 of BILZ's own filings, 37 months on record. Not computed here and not from a price feed.
Cross-checked against a series computed separately from prices: median difference — percentage points over 0 months, which is roughly the distributions. Every month with the filing it came from: BILZ.json · all funds.
Since the previous filing
2026-03-31 → 2026-06-304 positions became 5: 4 added (82.4% of the fund at the later date), 3 dropped (33.8% at the earlier date). Half the sum of all weight changes, a turnover proxy: 82.4%. Positions are matched on identifiers, so a security whose identifier changed shows as one drop and one add. Every filing of BILZ compared this way, as a feed: changes.xml · all funds: filings received.
| Largest increases | 2026-03-31 | 2026-06-30 | Largest decreases | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|
| United States Treasury | 66.23% | 17.58% |
New: United States Treasury (37.13%), United States Treasury (21.74%), United States Treasury (12.72%), United States Treasury (10.83%). Gone: UNITED STATES GOVT (16.96%), UNITED STATES GOVT (9.85%), UNITED STATES GOVT (6.96%).
Asset categories and pricing
as of 2026-06-30100.00% short-term investment as filed; 0.0% carried at a quoted market price (fair-value level 1). Categories and levels are the filer's; what a low level-1 share does and does not mean is in the measure's page.
Neighbours by effective holdings, short-term investment funds
10Every measured short-term investment fund lined up by how many holdings it behaves like; these sit either side of BILZ (4.1). Same filings, same arithmetic. Position in this list says nothing about which fund is better.
| Fund | Reports | Behaves like | Top ten | As of |
|---|---|---|---|---|
| DBMF iMGP DBI Managed Futures Strategy ETF | 15 | 2.3 * | 98.6% | 2026-06-30 |
| IBDP iShares iBonds Dec 2024 Term Corporate ETF | 82 | 2.4 | 73.79% | 2024-10-31 |
| YINN Direxion Daily FTSE China Bull 3X Shares | 8 | 2.5 * | 100% | 2026-07-31 |
| IBTE iShares iBonds Dec 2024 Term Treasury ETF | 7 | 2.8 | 100% | 2024-10-31 |
| NVDU Direxion Daily NVDA Bull 2X Shares | 9 | 3.3 * | 100% | 2026-07-31 |
| FTGC First Trust Global Tactical Commodity Strategy Fund | 13 | 4.2 * | 99.95% | 2026-06-30 |
| MSFU Direxion Daily MSFT Bull 2X Shares | 6 | 4.2 * | 100% | 2026-07-31 |
| TSLL Direxion Daily TSLA Bull 2X Shares | 6 | 5 * | 100% | 2026-07-31 |
| ALLW State Street(R) Bridgewater(R) All Weather(R) ETF | 41 | 8.2 * | 78.13% | 2026-07-31 |
| BIL State Street(R) SPDR(R) Bloomberg 1-3 Month T-Bill ETF | 24 | 14.9 | 74.44% | 2026-06-30 |
Essays that examine BILZ
0Mentions are detected across the full text of every article, so an appearance may be a passing comparison rather than the subject. Nothing here is a recommendation to buy or sell — see the disclaimer.