CIM, LLC

2. Key Holdings

The portfolio is currently top-heavy, with the largest three positions—NVIDIA (NVDA), Alphabet (GOOGL), and Meta Platforms (META)—accounting for approximately 27.97% of the total value. NVIDIA remains the dominant holding at $46.79 million (12.15%), despite the firm adding $8.66 million to the position during the quarter. This suggests a continued conviction in the AI infrastructure theme.

Notably, the fourth largest position is Spotify Technology S A at $26.46 million (6.87%), representing a significant non-mega-cap bet within the top tier. The portfolio also utilizes ETFs for liquidity and income, with the iShares Core 1-5 Year USD Bond ETF (ISTB) making up 6.76% of the portfolio. Other top holdings include Mastercard (MA), Monster Beverage (MNST), and Costco (COST), indicating a blend of growth technology and high-quality consumer defensives. However, exposure to Costco was trimmed by roughly 15% during the quarter.