DRH Investments, Inc.

Key Holdings

The portfolio is currently dominated by three major equity positions, with the remainder allocated to a gold ETF. The largest holding is Alphabet Inc. (GOOG), comprising 44.85% of the portfolio at a value of $13.95 million. This represents a massive overweight in a single communication services giant. The second largest position is Chemed Corp. (CHE), a healthcare company valued at $9.39 million (30.19% of the portfolio). Rounding out the top three is Diageo PLC (DEO) in the consumer defensive sector, accounting for 24.09% ($7.49 million). Notably, the top three positions alone constitute 99.13% of the total reported assets, leaving little room for error in the manager's selection of these specific names. The smallest holding is the SPDR Gold Trust (GLD), which functions as a minor hedge at 0.87% of the portfolio.

Sector Allocation

The sector allocation has narrowed significantly, reflecting the concentrated nature of the new portfolio structure. The fund is heavily exposed to Communication Services (44.85%) and Healthcare (30.19%), which together account for three-quarters of the fund's assets. Consumer Defensive makes up the remaining equity portion at 24.09%. The allocation to ETFs (specifically gold) is minimal at 0.87%. This tilt suggests a preference for industries with potential pricing power or essential demand—healthcare and consumer staples—paired with a significant bet on the technology/communication sector via Alphabet. The fund has completely abandoned the industrial sector (discussed below), indicating a rejection of cyclical exposure.