Hi @BaluBalu You wrote:

My Treasury positions at Schwab and Fidelity matured on June 15 Fidelity moved the money to sweep account

You're using the term 'sweep account', so this transaction is within a Fido Cash Management Account?? I ask, as a standard Fido brokerage has 'core positions' for cash consisting of a MMKT of one form or another.
Thank you.
Catch

My Treasury positions at Schwab and Fidelity matured on June 15 (Saturday). ... Schwab did not show anything last night and added to cash this [Tuesday] AM.
Unlike Fidelity (at least from what other posters here have written), you can trade online at Schwab without having sufficient cash in your account at the time a trade is executed. You just need to get that cash into the account by settlement day (or you are set up to trade on margin).
In hindsight (putting on those 20/20 goggles), you could have placed your MMF order on Monday. It would have settled on Tuesday (today) and the Treasury proceeds would have covered it. The MMF would then have started accruing divs today.

Most investors should keep it simple. The SP500 ... beats most stock funds because it represents 2 simple ideas
1) American capitalism. ...

A take on that:
https://www.nytimes.com/2024/06/18/opinion/capitalism-inflation.html
Stephens often is kind of a dope and this brief piece has no point after its halfway mark, but the first half sure has some eye-opening facts.

I have concentrated in the right categories since 1995. See (link).

LOL. WTF dude.

@FD1000 Are you bragging or complaining? You're not tired OR proud, are you? LOL.

Neither. It wasn't the first time I posted at crucial times. See (link). One of them was on this site.

"Like others here, I own a slice of GLFOX which invests in infrastructure and, for whatever reason, stays mainly in Europe. It has returned a big zero this year. Not a concern to me. I can be content with some holdings rising and some falling. If everything were rising together I’d be very worried."
The optimal portfolio is only known in hindsight.
Diversification means always having to say you're sorry about some investment in your portfolio!

Your best observation ever. And no need for hindsight.
I have concentrated in the right categories since 1995. See (link).
Just a small example: since 11/2023, I have posted many times to own US LC tilting growth and not diversifying. See my post from 11/1/2023 (link)
"You can just play it simple: no diversification, no predictions, no narrow range funds, looks like tilting LC growth is here to stay which = SPY/VOO or you can gamble and use some QQQ."
Why I posted the above? my system told me. See the chart(https://schrts.co/MWCuZUMV)
One of my fundamental rules is never to hold a fund that is not performing well. It doesn't mean #1, it means in the top 30% based on risk-adjusted performance. It's much easier when you have 3 funds, it's a lot harder with 10-15 funds.

Do I earn interest in my Schwab MM fund from the date when the trade to buy is executed (today) or when the trade settles (Thursday)?
The prospectus for SWVXX / SNAXX, SNVXX / SGUXX, SNOXX / SCOXX, SNRXX, and SNSXX / SUTXX reads:

Orders to buy shares that are accepted no later than the close of a fund (generally 4:00 p.m. Eastern Time) generally will receive the next business day’s dividend. Orders to sell or exchange shares that are accepted and executed no later than the close of a fund on a given day generally will receive that day’s dividend.

https://connect.rightprospectus.com/Schwab/TADF/808515605/SP?site=Funds
That's precisely what one would expect. As with any security, you get a dividend if and only if you are shareholder of record on the record date.
MMFs declare divs daily. You are not shareholder of record on the trade date (unless the MMF settles T+0). So you do not receive the div declared that day. Similarly, when you sell you do not give up ownership until the day after the sale. So you get the div declared on the day of sale.

" That fee, however, will be waived for customers with at least $5 million in assets." I suppose because those customers are the ones that are least able to absorb the cost, along with all the other fees coming down the pipe.

(Other firms charge transfer fees, so not a big surprise per se....but probably noteworthy for Vanguard)
Vanguard, the country’s second-largest financial-advisory firm, will start charging brokerage-account holders a slew of new fees starting July 1 — including a $100 processing fee to close an account or transfer assets to another firm. That fee, however, will be waived for customers with at least $5 million in assets.
The account-closure fee is a first for Vanguard, long a provider of low-cost investing options and a pioneer in passively managed index funds.
< - >
In addition to Vanguard’s new account-closure fee, the company will also charge $25 for broker-assisted trades of Vanguard funds (unless the customer holds $1 million or more in Vanguard assets or is enrolled in a Vanguard advisory service); $100 to process the deposit of physical share certificates; a 20% fee on funds recovered from class-action settlements on clients’ behalf; a 1% fee on gross dividends paid on foreign or American depository receipt assets held in U.S. dollars; and a $250 processing fee for research and removal of a restriction on securities in brokerage accounts.
< - >
https://www.marketwatch.com/story/vanguard-the-low-cost-investing-pioneer-will-now-charge-100-to-close-an-account-unless-youre-a-multimillionaire-09ef461c?mod=newsviewer_click

Its heyday may be over? Last 5 years 2019-2023 or YTD it hasn't even kept up with the SP500 (VOO) Why pay ER .31 (VPMAX adm) vs ER .03 (VOO). On 200k that's $620 vs $60.

VPMCX is the first mutual fund I ever owned back in 1985/86.

Eight or nine years of redemptions probably explains it.
BTW, those consistent redemptions have resulted in years and years of significant capital gains distributions. On an after-tax basis both of these funds have underperformed the S&P 500, by more than 100 bps a year for over a decade.

Trying to figure out if this is the thread where we discussed Schwab platform being behind Fidelity for Treasury and Agency purchases, I noticed that we completely destroyed this thread with off (thread) topics. With apologies, I go one more time.
My Treasury positions at Schwab and Fidelity matured on June 15 (Saturday). Friday evening, Fidelity positions page showed pending credit and first thing Monday AM, Fidelity moved the money to sweep account. Schwab did not show anything last night and added to cash this AM.
I had forgotten about the Schwab position until this AM when I received this email from Schwab "Your fixed income security will be maturing soon." [bold added] I looked into the email details and noticed the maturity date "June 15." Fidelity sent me the reminder a few weeks ago.
Also, I looked at the interest credit. Treasury did not pay me for the extra two days they had my money, and then there was that extra day of interest loss at Schwab (lost interest on $500K made me notice.)
So, on my next Treasury or Agency purchase, I not only have to look at the coupon (buying at par) but also whether the maturity date falls on a weekend / holiday. Also, unlikely to buy at Schwab; the one matured at Schwab was moved from Fidelity.
P.S.: (1) My memory could be faulty but I thought corporate bonds added extra interest upon maturity if the maturity date fell on a weekend / holiday. (Treasury certainly did not do that.) Is my expectation misplaced?
(2) Do I earn interest in my Schwab MM fund from the date when the trade to buy is executed (today) or when the trade settles (Thursday)?

@BaluBalu Around July 15th is when MRFOX updates the website with new info. Updating after quarter-end is the most efficient for them. The PM also writes, "However, I'll kick this to our marketing and ops folks to see if they have thoughts. And then adding, "I would also note that our goal is for investors to take the long view, so if they’re concerned about short term issues, then this might not be the right vehicle for them."
I hope this helps. If you have further thoughts or concerns, you might consider sharing them with their management team yourself. Best.

Thank you, Dennis.
Many funds release information about material fund changes once a month. Some of them are successful long term funds and many of us hold those funds long term. MRFOX have to find a way to communicate about the fund once a month. I am not asking them to write macro or market commentary once a month or ever, which is of no use to me. It takes 5 minutes of an administrative assistant’s time once a month when a process is set up to show material fund changes. If there is a desire to communicate, they will find a way to do so.
I think it is a misplaced view for the management to say to the shareholders “if they are concerned about short term issues, then this might not be the right vehicle for them.” I did not get the thought to perhaps bail from the fund until I read that view.
When we got into the fund, we already knew what is meant by the 90 day short term redemption penalty and so I am a bit surprised by the management reaction to my request for more communication. You can treat your shareholders like partners or simply as a counter party to a transactional arrangement.
Edit: For the management to react the way they did, I am guessing they are overwhelmed (irritated?) with shareholder calls. There is nothing more I can say to them by calling them that I have not said here but thanks for the offer to call them. They can read this forum.

Hmmmm. I'm going to have to decide which market indicators I watch for signs of melting. OH !!!!!! There is one event that may cause some disruptions sometime around November 5, if I recall properly. One day past my birthday.

@BaluBalu Around July 15th is when MRFOX updates the website with new info. Updating after quarter-end is the most efficient for them. The PM also writes, "However, I'll kick this to our marketing and ops folks to see if they have thoughts. And then adding, "I would also note that our goal is for investors to take the long view, so if they’re concerned about short term issues, then this might not be the right vehicle for them."
I hope this helps. If you have further thoughts or concerns, you might consider sharing them with their management team yourself. Best.

I don't own XLK, so that is 0.00% for me.
But I do hold LC-growth and MSFT, NVDA, APPL are top stocks in those funds.
These 3 are also top stocks in SP500 accounting for 20% of SP500.
So, this shift of about $11 billion in the next few days may have a notable effect on LC-growth and/or the market.
Posters are free to skip - XLK is in the title.

The use of free-float in indexes is sensible as that is the float that is publicly available. So, excluded are restricted stock (held by executives, directors, connected entities, etc), closely-held stock (insiders, major holders), Treasury stock (buybacks that aren't cancelled). If total market-cap is used, then funds will try to buy many more shares than are publicly available, and that would create a problem.
Many recent IPOs offer extreme examples (ARM, Saudi ARMCO - in Middle Eastern markets, etc) where only a small % of market-cap is issued.
Most other funds use proportional adjustments when caps are encountered. For example, if 3 stocks are eligible to be counted in 50% limitation, and they have approximately the same free-floats, then 3X = 50, or X = 0.1667, or 16.67% weight for each may be used. But the XLK formula knocks down the smallest (even by the tiniest amount), so 2X + 4.5 = 50, or X = 0.2275, or the weights 22.75%, 22.75%, 4.5%. That is what will cause this massive shift as NVDA used to be #3, but now AAPL is #3.
https://corporatefinanceinstitute.com/resources/career-map/sell-side/capital-markets/free-float/
https://www.investopedia.com/terms/f/freefloatmethodology.asp

Suppose you have 1 million in Fidelity SP500 (FXAIX) and you want $4K monthly. You can create a sell monthly trade on a specific date to run for years to do it...and you are done.

Only if you have the stomach for it. If you had $1M on Jan 1, 2022, and set up that trade you would be down $283,000 come October with zero guarantee that things were about to improve, and most likely torturing yourself thinking about what a terrible mistake you made.

My post wasn't discussing volatility, and no one advised to put it all in one fund.
It was an example of why you should invest based on TR and/or most people use risk-adjusted performance.
But why did you start on 1-1-2022? Why not start in 2008 and show it was down over 50%?
waggon:

How a fund delivers those dividends may have some short-term effect on returns, but there's no denying that dividends play a massive rose in returns. Since 1989, again according to S&P, the index has gained 1,393% without dividends; it's up 2,930% with dividends. With that kind of performance differential, it's hard to argue that dividends don't matter.

Why look at more than 30 years ago? The fact is that Divy have been going down. Since 2009, QQQ made about 1900% with minimal divy. High Divy stocks made a lot less than QQQ. (https://schrts.co/UhfIDyIu)

Diversification means always having to say you're sorry about some investment in your portfolio!

I liked this one. Goes on the fridge.
Like a few others here, I am having trouble opening up my wallet to buy much at current asking prices - especially when I can expect to earn 5% in cash.