In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 26, 2026), Client First Capital LLC reported 25 stock positions worth $234.1 million . Its top holding was Invesco QQQ Trust Series 1 (QQQ) at 20.0% of the portfolio, followed by iShares 0-1 Year Treasury Bo (SHV, 15.4% ) and iShares Core S&P 500 ETF (IVV, 12.8% ). Compared with Q3 2025, it opened 3 new positions, added to 11 and reduced 7. The biggest buy was iShares Core S&P 500 ETF (IVV, shares +22% ) and the biggest sale Wisdomtree Floating Rate Tre (USFR, shares −11% ).
Location SAN DIEGO, CA
CIK 0001822065
Portfolio Value $234.1M (Q4 2025) Holdings 25 stocks · $234.1M 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 Q3 2025 QQQ Invesco QQQ Trust Series 1 76,219 $46.8M Reduce -0.3% SHV iShares 0-1 Year Treasury Bo 328,276 $36.2M Reduce -2.7% IVV iShares Core S&P 500 ETF 43,589 $29.9M Add +21.5% QUAL iShares MSCI USA Quality Fac 124,359 $24.7M Add +1.3% USFR Wisdomtree Floating Rate Tre 451,368 $22.7M Reduce -10.6% GLD SPDR Gold Shares 42,880 $17.0M Add +2.4% XLC SS Comm Select Sector SPDR 86,806 $10.2M Add +3.5% OEF iShares S&P 100 ETF 20,077 $6.9M Add +0.2% XLG Invesco S&P 500 Top 50 ETF 114,595 $6.8M Reduce -0.4% XLF SS Financial Select Sector 120,079 $6.6M Add +3.7% CMF iShares California Muni Bond 92,578 $5.3M No change SMAX iShares L Cap MB Sep ETF 187,467 $5.1M Add +0.2% IWF iShares Russell 1000 Growth 7,245 $3.4M Reduce -1.3% ICSH iShares Ultra Short Duration 61,091 $3.1M Add +9.7% MUB iShares National Muni Bond E 23,070 $2.5M Reduce -0.0% MAXJ iShares LG Cap Max Buff Jun 77,248 $2.2M Add +1.1% MEAR Ishrs Short Mat Muni Act ETF 17,848 $898K Add +102.7% CALI Ishrs SH-TRM Ca Muni Act ETF 14,974 $756K Reduce -1.7% LLY Eli Lilly & Co. 690 $742K No change HD Home Depot Inc. 2,040 $702K New AAPL Apple Inc. 1,727 $470K Add +82.4% RTX RTX Corp. 2,153 $395K No change GOOGL Alphabet Inc. Class A 1,003 $314K New SPY SS SPDR S&P 500 ETF Trust-US 458 $312K New CINF Cincinnati Financial Corp. 1,289 $211K No change
Options reported separately and not counted above: SPY calls ($2.4M), GLD calls ($793K).
Portfolio Sells Q3 2025 → Q4 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 Q3 2025 % Of Portfolio Change To Portfolio ▲ USFR Wisdomtree Floating Rate Tre Reduce -10.6% 9.70% −1.61 SHV iShares 0-1 Year Treasury Bo Reduce -2.7% 15.45% −1.16 QQQ Invesco QQQ Trust Series 1 Reduce -0.3% 20.00% −0.43 IWF iShares Russell 1000 Growth Reduce -1.3% 1.47% −0.07 XLG Invesco S&P 500 Top 50 ETF Reduce -0.4% 2.90% −0.05 MUB iShares National Muni Bond E Reduce -0.0% 1.06% −0.04 CALI Ishrs SH-TRM Ca Muni Act ETF Reduce -1.7% 0.32% −0.02
Portfolio Buys Q3 2025 → Q4 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 Q3 2025 % Of Portfolio Change To Portfolio ▼ IVV iShares Core S&P 500 ETF Add +21.5% 12.76% +2.06 GLD SPDR Gold Shares Add +2.4% 7.26% +0.63 HD Home Depot Inc. New 0.30% +0.30 MEAR Ishrs Short Mat Muni Act ETF Add +102.7% 0.38% +0.19 GOOGL Alphabet Inc. Class A New 0.13% +0.13 SPY SS SPDR S&P 500 ETF Trust-US New 0.13% +0.13 AAPL Apple Inc. Add +82.4% 0.20% +0.09 ICSH iShares Ultra Short Duration Add +9.7% 1.32% +0.06 XLF SS Financial Select Sector Add +3.7% 2.81% +0.03 MAXJ iShares LG Cap Max Buff Jun Add +1.1% 0.93% −0.02 OEF iShares S&P 100 ETF Add +0.2% 2.94% −0.03 XLC SS Comm Select Sector SPDR Add +3.5% 4.37% −0.06 SMAX iShares L Cap MB Sep ETF Add +0.2% 2.16% −0.07 QUAL iShares MSCI USA Quality Fac Add +1.3% 10.55% −0.08
Options Activity Q3 2025 → Q4 2025 Security Type Change vs Q3 2025 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US call New 3,500 $2.4M GLD SPDR Gold Shares call New 2,000 $793K
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