Chevy Chase Trust Holdings, LLC
Reported US equity positions for Q1 2026 — $34.7B across 1,154 positions.
| Holding | Reported value | Share of portfolio | Shares |
|---|---|---|---|
| NVDA NVIDIA Corporation | $2.6B | 7.5% | 14,889,987 |
| AAPL Apple Inc. | $2.3B | 6.6% | 8,981,425 |
| MSFT Microsoft Corporation | $1.6B | 4.7% | 4,386,215 |
| AMZN Amazon.com, Inc. | $1.2B | 3.6% | 5,960,297 |
| GOOGL Alphabet Inc. | $1.0B | 3.0% | 3,594,171 |
| GOOG Alphabet Inc. - Class C Capital Stock | $918.8M | 2.6% | 3,203,123 |
| AVGO Broadcom Inc. | $836.5M | 2.4% | 2,702,684 |
| BRK.B Berkshire Hathaway Inc. | $640.6M | 1.8% | 1,336,767 |
| META Meta Platforms, Inc. | $619.8M | 1.8% | 1,083,354 |
| JPM JP Morgan Chase & Co. | $569.7M | 1.6% | 1,936,695 |
| TSLA Tesla, Inc. | $516.2M | 1.5% | 1,388,580 |
| V Visa Inc. | $417.1M | 1.2% | 1,379,994 |
| COST Costco Wholesale Corporation | $392.8M | 1.1% | 394,177 |
| XOM ExxonMobil Holdings Corporation | $368.2M | 1.1% | 2,170,102 |
| LLY Eli Lilly and Company | $366.0M | 1.1% | 397,885 |
| GS The Goldman Sachs Group, Inc. | $352.9M | 1.0% | 417,117 |
| JNJ Johnson & Johnson | $319.2M | 0.9% | 1,305,710 |
| WMT Walmart Inc. | $271.5M | 0.8% | 2,184,659 |
| TJX The TJX Companies, Inc. | $253.4M | 0.7% | 1,587,034 |
| MA Mastercard Incorporated | $212.3M | 0.6% | 424,898 |
| NFLX Netflix, Inc. | $202.6M | 0.6% | 2,107,595 |
| ABBV AbbVie Inc. | $196.7M | 0.6% | 904,397 |
| CVX Chevron Corporation | $194.8M | 0.6% | 941,593 |
| BAC Bank of America Corporation | $193.6M | 0.6% | 3,857,478 |
| NEE NextEra Energy, Inc. | $189.9M | 0.5% | 2,044,445 |
| MU Micron Technology, Inc. | $189.2M | 0.5% | 560,011 |
| VRTX Vertex Pharmaceuticals Incorporated | $182.0M | 0.5% | 407,615 |
| PG The Procter & Gamble Company | $172.0M | 0.5% | 1,190,999 |
| CAT Caterpillar, Inc. | $165.1M | 0.5% | 233,073 |
| HD The Home Depot, Inc. | $164.9M | 0.5% | 501,344 |
| PLTR Palantir Technologies Inc. | $164.8M | 0.5% | 1,126,473 |
| AMD Advanced Micro Devices, Inc. | $163.7M | 0.5% | 804,548 |
| BAC Bank of America Corporation | $162.4M | 0.5% | 3,330,535 |
| CSCO Cisco Systems, Inc. | $160.8M | 0.5% | 2,071,901 |
| NVS Novartis AG | $160.4M | 0.5% | 1,049,794 |
| REGN Regeneron Pharmaceuticals, Inc. | $159.0M | 0.5% | 205,833 |
| SAN Banco Santander, S.A. Sponsored ADR (Spain) | $155.8M | 0.4% | 13,815,641 |
| SHEL Shell PLC American Preferred | $155.3M | 0.4% | 1,669,740 |
| N07059210 Asml Hldg Nv | $154.7M | 0.4% | 117,116 |
| AEP American Electric Power Company, Inc. | $153.7M | 0.4% | 1,172,529 |
| UNH UnitedHealth Group Incorporated Common Stock (DE) | $152.7M | 0.4% | 564,251 |
| ISRG Intuitive Surgical, Inc. | $152.5M | 0.4% | 330,751 |
| TMO Thermo Fisher Scientific Inc | $152.4M | 0.4% | 310,001 |
| KO The Coca-Cola Company | $152.1M | 0.4% | 2,000,139 |
| MRK Merck & Company, Inc. Common Stock (new) | $150.7M | 0.4% | 1,253,128 |
| GE GE Aerospace | $148.5M | 0.4% | 523,141 |
| AMAT Applied Materials, Inc. | $141.0M | 0.4% | 412,572 |
| IAU iShares Gold Trust Shares | $138.9M | 0.4% | 1,575,158 |
| SLB SLB Limited | $137.6M | 0.4% | 2,677,707 |
| CDNS Cadence Design Systems, Inc. | $134.8M | 0.4% | 485,077 |
| LRCX Lam Research Corporation | $133.4M | 0.4% | 624,477 |
| FNV Franco-Nevada Corporation | $131.0M | 0.4% | 530,106 |
| RTX RTX Corporation | $130.7M | 0.4% | 677,296 |
| PM Philip Morris International Inc | $127.9M | 0.4% | 773,541 |
| ORCL Oracle Corporation | $126.5M | 0.4% | 859,682 |
| PEP PepsiCo, Inc. | $125.8M | 0.4% | 810,198 |
| WFC Wells Fargo & Company | $122.8M | 0.4% | 1,542,722 |
| NTRA Natera, Inc. | $117.4M | 0.3% | 587,030 |
| GEV GE Vernova Inc. | $117.4M | 0.3% | 134,478 |
| IBM International Business Machines Corporation | $116.1M | 0.3% | 479,099 |
Long US equity positions only, as filed. 13F does not cover short positions, cash, bonds or non-US listings, so this is not the whole portfolio.
What changed last quarter
| Holding | Change | Now | Was | Shares |
|---|---|---|---|---|
| NVDA NVIDIA Corporation | Trim | $2.6B | $2.9B | -3% |
| AAPL Apple Inc. | Trim | $2.3B | $2.5B | -3% |
| MSFT Microsoft Corporation | Trim | $1.6B | $2.2B | -3% |
| AMZN Amazon.com, Inc. | Trim | $1.2B | $1.4B | -2% |
| GOOGL Alphabet Inc. | Trim | $1.0B | $1.2B | -4% |
| GOOG Alphabet Inc. - Class C Capital Stock | Trim | $918.8M | $1.0B | -3% |
| BRK.B Berkshire Hathaway Inc. | Trim | $640.6M | $690.1M | -3% |
| META Meta Platforms, Inc. | Trim | $619.8M | $732.6M | -2% |
| JPM JP Morgan Chase & Co. | Trim | $569.7M | $647.3M | -4% |
| TSLA Tesla, Inc. | Trim | $516.2M | $642.0M | -3% |
| V Visa Inc. | Trim | $417.1M | $495.9M | -2% |
| XOM ExxonMobil Holdings Corporation | Trim | $368.2M | $272.2M | -4% |
| LLY Eli Lilly and Company | Trim | $366.0M | $441.1M | -3% |
| GS The Goldman Sachs Group, Inc. | Trim | $352.9M | $391.4M | -6% |
| JNJ Johnson & Johnson | Trim | $319.2M | $280.2M | -4% |
| WMT Walmart Inc. | Trim | $271.5M | $250.4M | -3% |
| MA Mastercard Incorporated | Trim | $212.3M | $250.3M | -3% |
| NFLX Netflix, Inc. | Trim | $202.6M | $204.0M | -3% |
| ABBV AbbVie Inc. | Trim | $196.7M | $212.5M | -3% |
| CVX Chevron Corporation | Trim | $194.8M | $149.1M | -4% |
| BAC Bank of America Corporation | Add | $193.6M | $149.7M | +5% |
| MU Micron Technology, Inc. | Trim | $189.2M | $164.1M | -3% |
| PG The Procter & Gamble Company | Trim | $172.0M | $176.5M | -3% |
| CAT Caterpillar, Inc. | Trim | $165.1M | $138.9M | -4% |
| HD The Home Depot, Inc. | Trim | $164.9M | $177.3M | -3% |
| PLTR Palantir Technologies Inc. | Trim | $164.8M | $206.1M | -3% |
| AMD Advanced Micro Devices, Inc. | Trim | $163.7M | $177.0M | -3% |
| BAC Bank of America Corporation | Trim | $162.4M | $191.1M | -4% |
| CSCO Cisco Systems, Inc. | Trim | $160.8M | $163.7M | -3% |
| NVS Novartis AG | Trim | $160.4M | $146.3M | -1% |
| REGN Regeneron Pharmaceuticals, Inc. | Add | $159.0M | $155.0M | +3% |
| SAN Banco Santander, S.A. Sponsored ADR (Spain) | Trim | $155.8M | $163.8M | -1% |
| N07059210 Asml Hldg Nv | Trim | $154.7M | $127.8M | -2% |
| UNH UnitedHealth Group Incorporated Common Stock (DE) | Trim | $152.7M | $195.6M | -5% |
| ISRG Intuitive Surgical, Inc. | Trim | $152.5M | $196.8M | -5% |
| TMO Thermo Fisher Scientific Inc | Add | $152.4M | $174.1M | +3% |
| KO The Coca-Cola Company | Trim | $152.1M | $144.1M | -3% |
| MRK Merck & Company, Inc. Common Stock (new) | Trim | $150.7M | $135.9M | -3% |
| GE GE Aerospace | Trim | $148.5M | $166.8M | -3% |
| AMAT Applied Materials, Inc. | Trim | $141.0M | $113.0M | -6% |
New and exited positions are only shown for managers whose entire filed portfolio fits inside the positions stored here. For a manager filing more than that, a holding leaving the stored set is indistinguishable from a holding being sold, so those are reported as adds and trims only.
What a 13F is
Any institutional manager exercising discretion over more than $100 million in US-listed equities must file a Form 13F with the SEC within 45 days of each quarter end, listing what they held on the last day of that quarter. The threshold was set in 1975 and has never been raised, so the filer population now runs to several thousand.
The four things it does not tell you
- It is stale. A filing describes positions as of quarter end and can arrive 45 days later. A manager who sold everything in week one of the new quarter files the same document as one who held.
- Long US equities only. No short positions, no cash, no bonds, no commodities, no foreign listings. A fund that looks heavily long in a 13F may be hedged in instruments that never appear.
- Not the whole firm. Assets are reported by the entity with discretion, so one manager can file under several CIKs, and the figure here is what that entity reported.
- Confidential treatment exists. A manager can apply to delay disclosing a position while building it. Those holdings appear later, if at all.
Why the biggest filers are not the interesting ones
The largest managers by reported value are index providers — they hold nearly everything, in proportion to the indices they track, because clients asked them to. Reading their filings for conviction is a category error. The filings worth attention are concentrated ones, where a small number of positions make up most of the portfolio, since that reflects a decision rather than a mandate.
The share-of-portfolio column is the one to read for this. A position that is 15% of a fund says something; the same dollar amount at 0.2% of an index tracker does not.
Where this comes from
The SEC's own quarterly Form 13F structured data sets, parsed here rather than bought from a vendor. Holdings are identified in the filings by CUSIP, and the mapping from CUSIP to ticker is the awkward part — that identifier is licensed rather than public, so the mapping is resolved through OpenFIGI and built up over time. Around 95% of reported value currently sits on a resolved ticker; the rest shows its CUSIP.
The rest of the section is on the Markets overview — including insider transactions, which are the same idea at the individual level, and the correlation finder, where each ticker's page carries its institutional ownership.