BENJAMIN JOSEPH FLOYD DBA FLOYD CAPITAL MANAGEMENT

Key Holdings

The sole holding in the portfolio is the SPDR S&P 500 ETF Trust (SPY), with a market value of $51.45 million comprising 75,000 shares. Because SPY represents the entire position, its performance is identical to the portfolio's performance. The SPY ETF tracks the S&P 500 index, providing broad exposure to large-cap U.S. equities. The decision to hold SPY indicates that the firm is currently benchmarking the portfolio directly against the broader U.S. market rather than attempting to outperform it through specific security selection or active management strategies.

Sector Allocation

The sector allocation is entirely singular, with 100% of the portfolio allocated to the ETF category. Within the context of the SPY holding, this translates to exposure across all standard economic sectors (Technology, Healthcare, Financials, Consumer Discretionary, etc.) weighted by market capitalization. There are no specific sector tilts or overweights relative to the general market; the portfolio effectively mirrors the sector composition of the S&P 500. This eliminates idiosyncratic sector risk, leaving the portfolio exposed only to systematic market risk.