In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 8, 2025), Client First Capital LLC reported 22 stock positions worth $213.0 million . Its top holding was Invesco QQQ Trust Series 1 (QQQ) at 20.1% of the portfolio, followed by iShares 0-1 Year Treasury Bo (SHV, 19.2% ) and iShares Core S&P 500 ETF (IVV, 11.2% ). Compared with Q1 2025, it opened 6 new positions, sold out of 2, added to 9 and reduced 4. The biggest buy was Wisdomtree Floating Rate Tre (USFR, shares +4053% ) and the biggest sale iShares Russell 1000 Growth (IWF, shares −65% ).
Location SAN DIEGO, CA
CIK 0001822065
Portfolio Value $213.0M (Q2 2025) Holdings 22 stocks · $213.0M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2025 QQQ Invesco QQQ Trust Series 1 77,733 $42.9M Add +1.8% SHV iShares 0-1 Year Treasury Bo 370,916 $41.0M Add +4.0% IVV iShares Core S&P 500 ETF 38,295 $23.8M Reduce -19.5% QUAL iShares MSCI USA Quality Fac 116,994 $21.4M Add +0.8% USFR Wisdomtree Floating Rate Tre 415,331 $20.9M Add +4053.3% GLD SPDR Gold Shares 41,704 $12.7M Reduce -17.1% XLC SS Comm Select Sector SPDR 90,168 $9.8M Add +1.2% OEF iShares S&P 100 ETF 30,466 $9.3M Add +1.5% XLG Invesco S&P 500 Top 50 ETF 118,806 $6.2M Add +0.8% XLF SS Financial Select Sector 115,371 $6.0M Reduce -37.9% CMF iShares California Muni Bond 92,578 $5.2M No change SMAX iShares L Cap MB Sep ETF 187,026 $4.9M Add +0.1% IWF iShares Russell 1000 Growth 7,728 $3.3M Reduce -65.3% MUB iShares National Muni Bond E 23,079 $2.4M No change CALI Ishrs SH-TRM Ca Muni Act ETF 15,273 $771K New MEAR Ishrs Short Mat Muni Act ETF 15,313 $770K Add +10.6% LLY Eli Lilly & Co. 690 $538K New RTX RTX Corp. 2,153 $314K No change CINF Cincinnati Financial Corp. 1,844 $275K New PM Philip Morris International 1,425 $260K New SO The Southern Co. 2,418 $222K New MO Altria Group Inc. 3,501 $205K New
Options reported separately and not counted above: GLD calls ($610K).
Portfolio Sells Q1 2025 → Q2 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▲ IWF iShares Russell 1000 Growth Reduce -65.3% 1.54% −2.58 IVV iShares Core S&P 500 ETF Reduce -19.5% 11.16% −2.53 XLF SS Financial Select Sector Reduce -37.9% 2.84% −1.91 XLE SS Energy Select Sector Sold out 0.00% −1.53 GLD SPDR Gold Shares Reduce -17.1% 5.97% −1.46 IJH iShares Core S&P Midcap ETF Sold out 0.00% −1.38
Portfolio Buys Q1 2025 → Q2 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▼ USFR Wisdomtree Floating Rate Tre Add +4053.3% 9.81% +9.55 QQQ Invesco QQQ Trust Series 1 Add +1.8% 20.13% +1.80 CALI Ishrs SH-TRM Ca Muni Act ETF New 0.36% +0.36 LLY Eli Lilly & Co. New 0.25% +0.25 XLC SS Comm Select Sector SPDR Add +1.2% 4.59% +0.19 OEF iShares S&P 100 ETF Add +1.5% 4.35% +0.19 CINF Cincinnati Financial Corp. New 0.13% +0.13 XLG Invesco S&P 500 Top 50 ETF Add +0.8% 2.91% +0.13 PM Philip Morris International New 0.12% +0.12 SO The Southern Co. New 0.10% +0.10 MO Altria Group Inc. New 0.10% +0.10 MEAR Ishrs Short Mat Muni Act ETF Add +10.6% 0.36% +0.01 SMAX iShares L Cap MB Sep ETF Add +0.1% 2.29% −0.11 QUAL iShares MSCI USA Quality Fac Add +0.8% 10.04% −0.12 SHV iShares 0-1 Year Treasury Bo Add +4.0% 19.23% −0.95
Options Activity Q1 2025 → Q2 2025 Security Type Change vs Q1 2025 Underlying Shares Value ▼ GLD SPDR Gold Shares call New 2,000 $610K
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 26 $247.8M QQQ, IVV, SHV, QUAL, USFR Q1 2026 26 $227.4M QQQ, SHV, IVV, QUAL, USFR Q4 2025 25 $234.1M QQQ, SHV, IVV, QUAL, USFR Q3 2025 22 $224.5M QQQ, SHV, USFR, IVV, QUAL Q2 2025 22 $213.0M QQQ, SHV, IVV, QUAL, USFR Q1 2025 18 $195.2M SHV, QQQ, IVV, QUAL, GLD Q4 2024 19 $194.5M QQQ, SHV, IVV, GLD, QUAL Q3 2024 19 $180.9M SHV, QQQ, IVV, BIL, GLD Q2 2024 18 $166.1M SHV, QQQ, IVV, QUAL, GLD Q1 2024 14 $142.7M SHV, QQQ, IVV, QUAL, GLD