Framework Journal · one stock, one dated entry

Recorded 2026-06-14 · Permanent

F/m US Treasury 12 Month Bill ETF OBIL

An entry written while the outcome is still unknown. It will be scored by what the market does next, and it will never be edited to look cleverer than it was.

In plain words · Under normal market conditions, F/m Investments LLC (the “Adviser”) seeks to achieve the fund’s investment objective by investing at least 80% of the fund’s net assets (plus any borrowings for investment purposes) in the…

The label
Distribution

read at $50.10

F/m US Treasury 12 Month Bill ETF holds its Distribution at $50.10.

PHINPOOPSC
  • PHPhase · the trend structure carries the Distribution label
  • INInsiders · no filings inside 60 days, left as found
  • POPositioning · no disclosures inside 60 days, left as found
  • OPOptions · no verdict drawn today, left as found
  • SCScreen · does not pass the values gate
  • edge confirmed
  • edge broken
  • edge forming

Each arm is one independent read. Conviction is not a single call, it is how many edges converge.

The investor read · the season, not the day

As held on the ledger · 2026-06-14
PhaseDistribution · caution
Quantitative stateConsolidating, no directional conviction, held for 2 days
Price$50.10
ValuationN/A trailing · N/A forward price to earnings
Values screenFAIL · score 30.0
BetaN/A

The trader read · the latest dated commentary

The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 1% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 0%. Entered 2026-07-18 · Accumulation

The dated journal · newest first, never edited

2026-07-18 Accumulation $50.10 +0.0% Entry 3

The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 1% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 4%. Our forward projection puts the odds of a 10% gain over the next month near 0%.

2026-07-03 Accumulation $50.10 +0.0% Entry 2

The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.

2026-07-02 Accumulation $50.10 Entry 1

The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.

Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.

The political ledger · congressional disclosures

Disclosures naming OBIL
DatePoliticianPartyTypeAmount
7 Feb2025 Tim Walberg Republican buy 15K–50K
2026-04-17 Bill Keating Democrat Purchase 1K–15K
16 Jun2026 Matt Van Epps Republican sell 1K–15K
15 May2026 Ro Khanna Democrat sell 15K–50K
1 May2026 Ro Khanna Democrat sell 1K–15K

What holding actually paid · price plus dividends

If $1,000 had been placed · historical, not a promise
PeriodPrice thenPrice returnDivs per share$1,000 becameTotal return
1 month $49.95 +0.2% $0.15 $1,005 +0.5%
2 months $49.82 +0.5% $0.30 $1,011 +1.1%
3 months $49.70 +0.7% $0.44 $1,016 +1.6%
6 months $49.35 +1.5% $0.88 $1,032 +3.2%
1 year $48.24 +3.8% $1.83 $1,076 +7.6%
2 years $45.97 +8.9% $3.94 $1,175 +17.5%
3 years $43.84 +14.2% $6.44 $1,289 +28.9%

Historical returns from market close data. Past performance does not guarantee future results.

This entry now belongs to the ledger. Whatever OBIL does next, these words stay.

F/m US Treasury 12 Month Bill ETF · OBIL · Distribution · $50.10
Recorded 2026-06-14 · before the outcome · scored mechanically

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