FOURPATH CAPITAL MANAGEMENT, LLC

2. Key Holdings

The portfolio is characterized by a concentration in high-conviction defensive assets and large-cap technology, though no single position dominates excessively. The top holding is Walmart Inc. (WMT) at $57.74M (7.90% of the portfolio), a new position signaling a strong bet on consumer staples. The second-largest holding is the iShares Gold Trust (IAU) at $48.80M (6.68%), representing a significant allocation to precious metals as a defensive hedge.

The remaining top ten positions are heavily weighted toward Capital Group ETFs (CGDV, CGDG) and other specialized funds (Federated Hermes, Simplify), which collectively account for a substantial portion of the assets. In terms of individual equities, Eli Lilly (LLY), Apple (AAPL), and Microsoft (MSFT) feature prominently, rounding out the top holdings. The top 10 positions account for approximately 37% of the total portfolio value, balancing liquidity management through ETFs with targeted equity exposure.