Client First Capital LLC

Key Holdings and Their Significance

• Top six holdings account for roughly 75.0% of the portfolio value: INVESCO QQQ TR $46.82M (19.74%), SHV $36.16M (15.24%), IVV $29.86M (12.58%), QUAL $24.70M (10.41%), USFR $22.71M (9.57%), and GLD $17.79M (7.50%). This shows concentration in a handful of liquid ETFs.
• Equity core: QQQ (19.7%) and IVV (12.6%) are the primary equity exposures—QQQ gives a concentrated growth/large-cap tech tilt while IVV provides broad S&P 500 coverage. Combined, these two make up 32.3% of the portfolio and are the principal equity beta drivers.
• Short-duration / cash-like allocation: SHV (15.2%), USFR (9.6%), and ICSH (1.3%) together represent a meaningful allocation to ultra-short/short-term Treasury or cash-equivalent instruments (~26.0%+), indicating a sizable liquidity or duration-management sleeve.
• Defensive/commodity hedge: GLD at 7.5% is a meaningful single-asset allocation to gold.
• Sector and factor exposure via ETFs: QUAL (quality factor) is 10.4%, and sector ETFs XLC (communications) and XLF (financials) also appear among top holdings. Several style/sector ETFs (OEF, XLG, IWF, XLF, XLC) contribute targeted tilts.

Sector Allocation and Notable Tilts

• By the provided classification, ETFs dominate the allocation ($179.6M, 75.8%). The explicit single-stock sector buckets are immaterial in aggregate (Healthcare 0.31%, Consumer Cyclical 0.30%, Technology 0.20%, Communication Services 0.13%, Financial Services 0.09%).
• Effective asset allocation mix (observable from tickers):
  • Equity exposure (broad and sector ETFs such as QQQ, IVV, QUAL, XLC, XLF, SPY, IWF, XLG, OEF): ~58–60% of the portfolio (estimated from the disclosed ETF values).
  • Short-duration fixed income/cash equivalents (SHV, USFR, ICSH, CMF and similar): ~26–30%.
  • Commodity hedge (GLD): 7.5%.
• Notable tilt: a heavy overweight to large-cap growth/technology through QQQ (19.7%). Simultaneously, the high allocation to SHV and other ultra-short instruments indicates a dual posture of market participation with immediate liquidity/defensive assets available.