Chesapeake Asset Management LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 8, 2026), Chesapeake Asset Management LLC reported 336 stock positions worth $120.5 million. Its top holding was Microsoft (MSFT) at 9.0% of the portfolio, followed by Eli Lilly (LLY, 8.2%) and Apple (AAPL, 6.4%). Compared with Q3 2025, it opened 65 new positions, sold out of 23, added to 87 and reduced 58. The biggest buy was Eli Lilly (LLY, shares +3%) and the biggest sale Microsoft (MSFT, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001079397
- Portfolio Value
- $120.5M (Q4 2025)
- SEC Filing
- 0001079397-26-000010 ↗ filed Jan 8, 2026
Holdings Value
Holdings 336 stocks · $120.5M
| MSFT Microsoft Corp. | 9.01% | 22,467 | $10.9M | Reduce -1.8% |
| LLY Eli Lilly & Co. | 8.16% | 9,158 | $9.8M | Add +3.3% |
| AAPL Apple Inc. | 6.38% | 28,290 | $7.7M | Reduce -2.6% |
| JPM JPMorgan Chase & Co. | 5.09% | 19,033 | $6.1M | Add +0.3% |
| SPOT Spotify Technology SA | 3.65% | 7,579 | $4.4M | No change |
| R Ryder System Inc. | 3.19% | 20,096 | $3.8M | Reduce -0.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 2.36% | 4,164 | $2.8M | Add +6.7% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 2.23% | 9,087 | $2.7M | No change |
| AFL Aflac Inc. | 2.15% | 23,493 | $2.6M | No change |
| GGAL Grupo Financiero Galicia-ADR | 1.74% | 38,883 | $2.1M | No change |
| GLD SPDR Gold Shares | 1.74% | 5,282 | $2.1M | Add +5.0% |
| AVGO Broadcom Inc. | 1.63% | 5,681 | $2.0M | Reduce -21.2% |
| MRK Merck & Co. Inc. | 1.41% | 16,166 | $1.7M | Reduce -5.7% |
| RTX RTX Corp. | 1.40% | 9,209 | $1.7M | Reduce -0.1% |
| AMZN Amazon.com Inc. | 1.39% | 7,276 | $1.7M | Reduce -1.7% |
| CHD Church & Dwight Co. Inc. | 1.34% | 19,331 | $1.6M | Reduce -0.1% |
| ABBV Abbvie Inc. | 1.24% | 6,567 | $1.5M | Add +0.1% |
| BMA Banco Macro SA-ADR | 1.19% | 15,916 | $1.4M | Add +34.8% |
| GOOG Alphabet Inc. Class C | 1.11% | 4,253 | $1.3M | Add +803.0% |
| SPG Simon Property Group Inc. | 1.11% | 7,200 | $1.3M | No change |
| BBAR Bbva Argentina SA-ADR filed as BANCO BBVA ARGENTINA S A | 1.02% | 67,900 | $1.2M | No change |
| JNJ Johnson & Johnson | 1.01% | 5,905 | $1.2M | Add +2.2% |
| J Jacobs Solutions Inc. | 1.01% | 9,150 | $1.2M | Reduce -24.8% |
| QQQ Invesco QQQ Trust Series 1 | 0.94% | 1,836 | $1.1M | No change |
| GOOGL Alphabet Inc. Class A | 0.91% | 3,511 | $1.1M | Add +6.0% |
| UL Unilever PLC-Sponsored ADR | 0.90% | 16,658 | $1.1M | No change |
| PEP Pepsico Inc. | 0.85% | 7,136 | $1.0M | Reduce -0.3% |
| PAM Pampa Energia SA-Spon ADR | 0.82% | 11,202 | $991K | No change |
| YPF YPF S.A.-Sponsored ADR filed as YPF SOCIEDAD ANONIMA | 0.81% | 26,880 | $972K | No change |
| META Meta Platforms Inc. Class A | 0.76% | 1,382 | $912K | Add +14.6% |
| NEE Nextera Energy Inc. | 0.75% | 11,286 | $906K | Add +7.5% |
| BA The Boeing Co. | 0.74% | 4,129 | $896K | Reduce -47.2% |
| TRV The Travelers Cos Inc. | 0.73% | 3,018 | $875K | Add +10.8% |
| CVX Chevron Corp. | 0.69% | 5,481 | $835K | Add +2.0% |
| MCD McDonald's Corp. | 0.68% | 2,697 | $824K | Add +0.9% |
| WMB Williams Cos Inc. | 0.67% | 13,484 | $811K | Reduce -14.8% |
| PG The Procter & Gamble Co. | 0.67% | 5,612 | $804K | Add +1.5% |
| XOM Exxon Mobil Corp. | 0.63% | 6,350 | $764K | Add +4.9% |
| ACWX iShares MSCI Acwi Ex US ETF | 0.61% | 10,935 | $734K | No change |
| LMT Lockheed Martin Corp. | 0.61% | 1,509 | $730K | Add +0.3% |
| TSM Taiwan Semiconductor-SP ADR | 0.59% | 2,323 | $706K | Add +329.4% |
| WMT Walmart Inc. | 0.57% | 6,218 | $693K | Add +1723.5% |
| GLW Corning Inc. | 0.55% | 7,628 | $668K | Reduce -25.8% |
| ETN Eaton Corp. PLC | 0.54% | 2,038 | $649K | Add +0.5% |
| VMI Valmont Industries | 0.53% | 1,583 | $637K | Add +26.2% |
| GS Goldman Sachs Group Inc. | 0.52% | 711 | $625K | Add +76.0% |
| MDLZ Mondelez International Inc. Class A | 0.51% | 11,355 | $611K | Add +2.4% |
| IWM iShares Russell 2000 ETF | 0.50% | 2,455 | $604K | No change |
| PNC PNC Financial Services Group | 0.49% | 2,816 | $588K | Add +0.7% |
| TRGP Targa Resources Corp. | 0.48% | 3,116 | $575K | Add +314.9% |
| NVDA Nvidia Corp. | 0.46% | 2,998 | $559K | Reduce -3.9% |
| VTI VG Morningstar TS MKT ETF-US | 0.43% | 1,555 | $521K | No change |
| HD Home Depot Inc. | 0.42% | 1,489 | $512K | Add +1.0% |
| CENX Century Aluminum Company | 0.42% | 13,015 | $510K | New |
| CSCO Cisco Systems Inc. | 0.42% | 6,573 | $506K | Add +2.9% |
| ACN Accenture PLC Class A | 0.41% | 1,834 | $492K | Add +45.3% |
| ADP Automatic Data Processing | 0.41% | 1,909 | $491K | Add +2.6% |
| UNH Unitedhealth Group Inc. | 0.39% | 1,439 | $475K | Add +5.0% |
| GD General Dynamics Corp. | 0.39% | 1,407 | $474K | Add +2.5% |
| PPL PPL Corp. | 0.39% | 13,291 | $465K | Add +3.7% |
| BKR Baker Hughes Co. | 0.38% | 10,085 | $459K | Reduce -44.7% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 0.37% | 16,068 | $452K | Add +10.5% |
| AVB Avalonbay Communities Inc. | 0.36% | 2,383 | $432K | Add +9.1% |
| TEL Te Connectivity PLC | 0.35% | 1,854 | $422K | Add +3.3% |
| GWRE Guidewire Software Inc. | 0.35% | 2,085 | $419K | No change |
| SRE Sempra | 0.35% | 4,721 | $417K | Add +0.4% |
| HIG Hartford Insurance Group Inc. | 0.33% | 2,883 | $397K | Add +33.3% |
| CME Cme Group Inc. | 0.32% | 1,414 | $386K | Add +0.3% |
| SNDK Sandisk Corp. | 0.32% | 1,600 | $380K | Reduce -32.4% |
| CRESY Cresud S.A.-Spons ADR | 0.31% | 29,865 | $377K | Add +0.8% |
| SCHP Schwab U.S. Tips ETF | 0.30% | 13,841 | $367K | Add +11.5% |
| PAYX Paychex Inc. | 0.29% | 3,138 | $352K | Add +8.4% |
| ANF Abercrombie & Fitch Co. Class A | 0.29% | 2,793 | $352K | New |
| WEC WEC Energy Group Inc. | 0.28% | 3,230 | $341K | Add +28.1% |
| SONY Sony Group Corp. - SP ADR | 0.28% | 13,240 | $339K | No change |
| LOMA Loma Negra Cia Ind-Spon ADR | 0.28% | 25,806 | $334K | No change |
| KMI Kinder Morgan Inc. | 0.28% | 12,154 | $334K | Add +1.4% |
| PM Philip Morris International | 0.28% | 2,070 | $332K | Add +6.8% |
| XME SS SPDR S&P Metals Mining | 0.26% | 3,079 | $319K | Reduce -56.5% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.25% | 3,786 | $304K | Add +5.7% |
| APO Apollo Global Management Inc. | 0.25% | 2,065 | $299K | Add +3.6% |
| MRSH Marsh & McLennan Cos | 0.24% | 1,585 | $294K | Reduce -41.4% |
| HOOD Robinhood Markets Inc. Class A | 0.24% | 2,593 | $293K | No change |
| VOO Vanguard S&P 500 ETF | 0.24% | 454 | $285K | Add +107.3% |
| VZ Verizon Communications Inc. | 0.24% | 6,967 | $284K | Add +9.0% |
| JAAA Janus Henderson Aaa Clo ETF | 0.23% | 5,500 | $278K | New |
| CIFR Cipher Digital Inc. | 0.23% | 18,557 | $274K | Add +32.5% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.22% | 2,937 | $268K | New |
| ITW Illinois Tool Works | 0.22% | 1,077 | $265K | Add +0.6% |
| GEV GE Vernova Inc. | 0.22% | 397 | $259K | Add +17.8% |
| PRSU Pursuit Attractions and Hosp | 0.21% | 7,520 | $253K | Reduce -22.0% |
| BABA Alibaba Group Holding-SP ADR | 0.20% | 1,639 | $240K | Reduce -44.3% |
| ORCL Oracle Corp. | 0.18% | 1,142 | $223K | No change |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.18% | 5,170 | $221K | No change |
| LVS Las Vegas Sands Corp. | 0.18% | 3,316 | $216K | New |
| BRK.B Berkshire Hathaway Inc. Class B | 0.18% | 420 | $211K | Add +121.0% |
| GE General Electric filed as GE AEROSPACE | 0.17% | 672 | $207K | Add +59.2% |
| CRWV Coreweave Inc. Class A | 0.17% | 2,814 | $202K | Reduce -67.0% |
| TXN Texas Instruments Inc. | 0.16% | 1,090 | $189K | Reduce -30.3% |
| OKE Oneok Inc. | 0.16% | 2,559 | $188K | Add +0.6% |
Options reported separately and not counted above: KWEB puts ($296K), BOEING CO calls ($49K), ISHARES BITCOIN TRUST ETF puts ($7K), UBER TECHNOLOGIES INC puts ($6K), TAIWAN SEMICONDUCTOR MANUFAC puts ($3K), ORACLE CORP puts ($3K), PAYCHEX INC puts ($3K), META PLATFORMS INC puts ($2K), VALMONT INDS INC puts ($2K), AMAZON COM INC puts ($1K), ADVANCED MICRO DEVICES INC puts ($922), MONDELEZ INTL INC puts ($892), and 23 more.
Other holdings (1): bonds, preferreds, convertibles and warrants · $103K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 85 | $103K | New |
Total filed on the 13F, all lines: $120.7M.
Portfolio Sells Q3 2025 → Q4 2025
| MSFT Microsoft Corp. | Reduce -1.8% | 9.01% | −1.48 |
| CRWV Coreweave Inc. Class A | Reduce -67.0% | 0.17% | −0.87 |
| BA The Boeing Co. | Reduce -47.2% | 0.74% | −0.75 |
| J Jacobs Solutions Inc. | Reduce -24.8% | 1.01% | −0.61 |
| AVGO Broadcom Inc. | Reduce -21.2% | 1.63% | −0.48 |
| BKR Baker Hughes Co. | Reduce -44.7% | 0.38% | −0.41 |
| XME SS SPDR S&P Metals Mining | Reduce -56.5% | 0.26% | −0.32 |
| KWEB Kranesh Csi China Internet | Sold out | 0.00% | −0.32 |
| BABA Alibaba Group Holding-SP ADR | Reduce -44.3% | 0.20% | −0.27 |
| MRSH Marsh & McLennan Cos | Reduce -41.4% | 0.24% | −0.24 |
| ETHA iShares Ethereum Trust ETF | Reduce -98.7% | 0.00% | −0.22 |
| WMB Williams Cos Inc. | Reduce -14.8% | 0.67% | −0.22 |
| KDP Keurig Dr Pepper Inc. | Reduce -98.6% | 0.00% | −0.19 |
| GLW Corning Inc. | Reduce -25.8% | 0.55% | −0.19 |
| APD Air Products & Chemicals Inc. | Reduce -79.3% | 0.04% | −0.19 |
| R Ryder System Inc. | Reduce -0.4% | 3.19% | −0.18 |
| AAPL Apple Inc. | Reduce -2.6% | 6.38% | −0.17 |
| PRMB Primo Brands Corp. | Reduce -49.1% | 0.09% | −0.17 |
| CHD Church & Dwight Co. Inc. | Reduce -0.1% | 1.34% | −0.16 |
| RUN Sunrun Inc. | Sold out | 0.00% | −0.15 |
| BN Brookfield Corp. | Reduce -59.8% | 0.08% | −0.14 |
| CORZ Core Scientific Inc. | Sold out | 0.00% | −0.12 |
| PRSU Pursuit Attractions and Hosp | Reduce -22.0% | 0.21% | −0.10 |
| TXN Texas Instruments Inc. | Reduce -30.3% | 0.16% | −0.10 |
| CRCL Circle Internet Group Inc. | Reduce -49.5% | 0.04% | −0.09 |
| PLD Prologis Inc. | Sold out | 0.00% | −0.08 |
| CRDO Credo Technology Group Holdi | Reduce -47.4% | 0.07% | −0.07 |
| O Realty Income Corp. | Reduce -71.0% | 0.02% | −0.07 |
| SPHR Sphere Entertainment Co. | Sold out | 0.00% | −0.07 |
| ABNB Airbnb Inc. Class A | Reduce -96.2% | 0.00% | −0.06 |
| NVDA Nvidia Corp. | Reduce -3.9% | 0.46% | −0.05 |
| AMZN Amazon.com Inc. | Reduce -1.7% | 1.39% | −0.05 |
| T AT&T Inc. | Reduce -7.3% | 0.15% | −0.05 |
| SGOV iShares 0-3 Month Treasury B | Reduce -44.3% | 0.05% | −0.04 |
| PFE Pfizer Inc. | Reduce -24.7% | 0.09% | −0.04 |
| PEP Pepsico Inc. | Reduce -0.3% | 0.85% | −0.04 |
| PSX Phillips 66 | Sold out | 0.00% | −0.04 |
| STIP iShares 0-5 Year Tips Bond E | Reduce -29.4% | 0.04% | −0.02 |
| MLM Martin Marietta Materials | Sold out | 0.00% | −0.02 |
| QCOM Qualcomm Inc. | Sold out | 0.00% | −0.02 |
| VMC Vulcan Materials Co. | Sold out | 0.00% | −0.02 |
| ALE Allete Inc. | Sold out | 0.00% | −0.02 |
| DELL Dell Technologies -C | Reduce -14.0% | 0.04% | −0.02 |
| DIS The Walt Disney Co. | Reduce -10.2% | 0.08% | −0.02 |
| UNP Union Pacific Corp. | Reduce -2.8% | 0.13% | −0.02 |
| NKE Nike Inc. Class B | Reduce -33.3% | 0.02% | −0.02 |
| HTGC Hercules Capital Inc. | Reduce -32.9% | 0.02% | −0.01 |
| CVS CVS Health Corp. | Reduce -37.0% | 0.02% | −0.01 |
| LOW Lowe's Cos Inc. | Sold out | 0.00% | −0.01 |
| HPQ HP Inc. | Reduce -26.8% | 0.02% | −0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| LLY Eli Lilly & Co. | Add +3.3% | 8.16% | +2.17 |
| GOOG Alphabet Inc. Class C | Add +803.0% | 1.11% | +1.01 |
| BMA Banco Macro SA-ADR | Add +34.8% | 1.19% | +0.75 |
| WMT Walmart Inc. | Add +1723.5% | 0.57% | +0.54 |
| TSM Taiwan Semiconductor-SP ADR | Add +329.4% | 0.59% | +0.45 |
| CENX Century Aluminum Company | New | 0.42% | +0.42 |
| TRGP Targa Resources Corp. | Add +314.9% | 0.48% | +0.37 |
| ANF Abercrombie & Fitch Co. Class A | New | 0.29% | +0.29 |
| GS Goldman Sachs Group Inc. | Add +76.0% | 0.52% | +0.23 |
| JAAA Janus Henderson Aaa Clo ETF | New | 0.23% | +0.23 |
| BIL SS SPDR BB 1-3M T-Bill ETF | New | 0.22% | +0.22 |
| GOOGL Alphabet Inc. Class A | Add +6.0% | 0.91% | +0.20 |
| LVS Las Vegas Sands Corp. | New | 0.18% | +0.18 |
| GLD SPDR Gold Shares | Add +5.0% | 1.74% | +0.15 |
| DRI Darden Restaurants Inc. | New | 0.15% | +0.15 |
| KEX Kirby Corp. | New | 0.14% | +0.14 |
| ACN Accenture PLC Class A | Add +45.3% | 0.41% | +0.13 |
| MSM MSC Industrial Direct Co. Class A | New | 0.12% | +0.12 |
| XLK SS Technology Select Sector | New | 0.12% | +0.12 |
| VOO Vanguard S&P 500 ETF | Add +107.3% | 0.24% | +0.12 |
| PLTR Palantir Technologies Inc. Class A | Add +1505.8% | 0.12% | +0.11 |
| VMI Valmont Industries | Add +26.2% | 0.53% | +0.10 |
| NOW ServiceNow Inc. | New | 0.10% | +0.10 |
| LIN Linde PLC | New | 0.09% | +0.09 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +121.0% | 0.18% | +0.09 |
| SITE Siteone Landscape Supply Inc. | New | 0.08% | +0.08 |
| GRMN Garmin Ltd. | New | 0.08% | +0.08 |
| HIG Hartford Insurance Group Inc. | Add +33.3% | 0.33% | +0.07 |
| CRESY Cresud S.A.-Spons ADR | Add +0.8% | 0.31% | +0.07 |
| CIFR Cipher Digital Inc. | Add +32.5% | 0.23% | +0.07 |
| COF Capital One Financial Corp. | New | 0.07% | +0.07 |
| MCK McKesson Corp. | New | 0.07% | +0.07 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | New | 0.07% | +0.07 |
| JNJ Johnson & Johnson | Add +2.2% | 1.01% | +0.06 |
| AEP American Electric Power | New | 0.06% | +0.06 |
| GE General Electric | Add +59.2% | 0.17% | +0.06 |
| OXLC Oxford Lane Capital Corp. | New | 0.06% | +0.06 |
| TRV The Travelers Cos Inc. | Add +10.8% | 0.73% | +0.05 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +6.7% | 2.36% | +0.05 |
| NEE Nextera Energy Inc. | Add +7.5% | 0.75% | +0.05 |
| TOST Toast Inc. Class A | New | 0.04% | +0.04 |
| VTEB Vanguard Tax-Exempt Bond ETF | Add +109.8% | 0.08% | +0.04 |
| SPHB Invesco S&P 500 High Beta Et | New | 0.03% | +0.03 |
| TSLA Tesla Inc. | New | 0.03% | +0.03 |
| CSCO Cisco Systems Inc. | Add +2.9% | 0.42% | +0.03 |
| BND Vanguard Total Bond Market | Add +109.8% | 0.07% | +0.03 |
| GEV GE Vernova Inc. | Add +17.8% | 0.22% | +0.03 |
| DLR Digital Realty Trust Inc. | Add +85.1% | 0.09% | +0.03 |
| LITE Lumentum Holdings Inc. | New | 0.03% | +0.03 |
| IBIT iShares Bitcoin Trust ETF | Add +82.2% | 0.13% | +0.03 |
Options Activity Q3 2025 → Q4 2025
| KWEB Kranesh Csi China Internet | put | New | 8,635 | $296K |
| ELI LILLY & CO | call | Sold out | 53 | $53Kbefore exit |
| BOEING CO | call | New | 29 | $49K |
| APPLE INC | call | Sold out | 7 | $18Kbefore exit |
| ISHARES BITCOIN TRUST ETF | put | New | 60 | $7K |
| TAIWAN SEMICONDUCTOR MANUFAC | put | New | 15 | $3K |
| ORACLE CORP | put | New | 2 | $3K |
| PAYCHEX INC | put | Reduce -50.0% | 2 | $3K |
| RGTI Rigetti Computing Inc. | put | Sold out | 60 | $2Kbefore exit |
| META PLATFORMS INC | put | Add +100.0% | 2 | $2K |
| VALMONT INDS INC | put | New | 3 | $2K |
| AMAZON COM INC | put | Add +100.0% | 8 | $1K |
| HARTFORD INSURANCE GROUP INC | put | Sold out | 10 | $949before exit |
| MONDELEZ INTL INC | put | New | 4 | $892 |
| ACCENTURE PLC IRELAND | put | Add +75.0% | 7 | $457 |
| BOEING CO | put | New | 3 | $153 |
| APPLE INC | put | Add +150.0% | 5 | $0 |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2025 → Q4 2025
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | New | 85 | $103K |
| SAIC Science Applications Inte | COM | Sold out | 0 | $0before exit |
| XLE SS Energy Select Sector | ST STR ENERG ETF | Sold out | 0 | $0before exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 362 | $130.5M | LLY, BIL, AAPL, JPM, MSFT |
| Q1 2026 | 312 | $124.8M | BIL, LLY, AAPL, MSFT, JPM |
| Q4 2025 | 336 | $120.5M | MSFT, LLY, AAPL, JPM, SPOT |
| Q3 2025 | 292 | $112.9M | MSFT, AAPL, LLY, JPM, SPOT |
| Q2 2025 | 293 | $110.0M | MSFT, LLY, SPOT, AAPL, JPM |
| Q1 2025 | 517 | $105.1M | MSFT, LLY, AAPL, JPM, SPOT |
| Q4 2024 | 493 | $107.4M | MSFT, AAPL, LLY, JPM, GGAL |
| Q3 2024 | 491 | $115.1M | MSFT, LLY, AAPL, SPOT, JPM |
| Q2 2024 | 300 | $104.3M | MSFT, LLY, AAPL, MRK, SPOT |
| Q1 2024 | 291 | $100.9M | MSFT, LLY, AAPL, MRK, JPM |