CHURCHILL MANAGEMENT Corp

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 18, 2025), CHURCHILL MANAGEMENT Corp reported 164 stock positions worth $9.2 billion. Its top holding was SS Technology Select Sector (XLK) at 13.2% of the portfolio, followed by Invesco QQQ Trust Series 1 (QQQ, 7.8%) and SS SPDR S&P 500 ETF Trust-US (SPY, 7.2%). Compared with Q1 2025, it opened 34 new positions, sold out of 26, added to 53 and reduced 61. The biggest buy was a new position in Vanguard Info Tech ETF (VGT) and the biggest sale iShares Russell 1000 Growth (IWF, shares −58%).

Most Recent 13F
Q2 2025
Location
Los Angeles, CA
CIK
0001094749
Portfolio Value
$9.2B (Q2 2025)
SEC Filing
0000935836-25-000466 ↗ filed Jul 18, 2025

Holdings Value

0$2.0B$4.0B$6.0B$8.0B$10.0B Q1 2024: $8.0B Q1 2024 Q2 2024: $8.5B Q2 2024 Q3 2024: $8.7B Q3 2024 Q4 2024: $9.2B Q4 2024 Q1 2025: $7.9B Q1 2025 Q2 2025: $9.2B $9.2B Q2 2025

Holdings 164 stocks · $9.2B

XLK SS Technology Select Sector 13.22% 4,809,901 $1.2B Add +4.1%
QQQ Invesco QQQ Trust Series 1 7.83% 1,307,145 $721.1M Reduce -3.7%
SPY SS SPDR S&P 500 ETF Trust-US 7.16% 1,067,120 $659.3M Add +2.1%
XLF SS Financial Select Sector 5.73% 10,077,535 $527.8M Reduce -0.3%
IVV iShares Core S&P 500 ETF 5.57% 826,375 $513.1M Add +0.4%
VOO Vanguard S&P 500 ETF 5.33% 864,054 $490.8M Reduce -0.3%
VGT Vanguard Info Tech ETF 4.93% 685,276 $454.5M New
VTV Vanguard Mrngstr Val ETF-Aui 4.91% 2,561,737 $452.8M Add +0.2%
XLC SS Comm Select Sector SPDR 4.70% 3,991,642 $433.2M Reduce -0.7%
XLV SS Health Care Select Sector 3.37% 2,305,920 $310.8M Reduce -14.3%
IWB iShares Russell 1000 ETF 2.94% 798,988 $271.3M Add +0.8%
XLI SS Industrial Select Sector 2.73% 1,705,208 $251.6M Reduce -0.7%
IWF iShares Russell 1000 Growth 2.68% 581,381 $246.8M Reduce -58.0%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 2.55% 532,670 $234.7M Add +0.2%
VB Vanguard Most SM-Cap ETF-Usd 2.43% 946,160 $224.2M New
MTUM iShares MSCI USA Momentum Fa 2.39% 916,637 $220.3M New
XLY SS Consumer Disc Select Sect 2.37% 1,004,176 $218.2M Reduce -0.2%
XLP SS Consumer Staples Sel Sect 2.06% 2,344,665 $189.8M Add +1.0%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.87% 976,447 $79.7M Add +0.1%
AVGO Broadcom Inc. 0.86% 287,866 $79.4M Reduce -3.2%
NVDA Nvidia Corp. 0.67% 388,633 $61.4M Add +4.4%
MSFT Microsoft Corp. 0.57% 104,880 $52.2M Add +2.8%
NFLX Netflix Inc. 0.55% 38,067 $51.0M Add +15.3%
AAPL Apple Inc. 0.52% 234,672 $48.1M Add +3.9%
CAH Cardinal Health Inc. 0.44% 242,896 $40.8M Add +0.4%
GOOGL Alphabet Inc. Class A 0.39% 201,717 $35.5M Add +1.1%
GE General Electric filed as GE AEROSPACE 0.34% 121,912 $31.4M Add +16.8%
META Meta Platforms Inc. Class A 0.32% 39,627 $29.2M Add +0.3%
CRWD CrowdStrike Holdings Inc. Class A 0.31% 55,426 $28.2M Add +0.4%
STX Seagate Technology Holdings 0.29% 182,383 $26.3M Add +0.1%
HD Home Depot Inc. 0.27% 67,743 $24.8M Reduce -0.4%
GEV GE Vernova Inc. 0.27% 46,827 $24.8M Add +0.2%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.27% 333,164 $24.5M Reduce -0.3%
PLTR Palantir Technologies Inc. Class A 0.26% 174,140 $23.7M New
OKE Oneok Inc. 0.25% 279,970 $22.9M Reduce -0.7%
JPM JPMorgan Chase & Co. 0.24% 75,014 $21.7M Add +109.9%
BSX Boston Scientific Corp. 0.23% 195,676 $21.0M Reduce -0.5%
WFC Wells Fargo & Co. 0.22% 254,395 $20.4M Add +1.4%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.22% 69,028 $20.3M Reduce -0.4%
AMZN Amazon.com Inc. 0.21% 86,429 $19.0M Reduce -5.8%
BRK.B Berkshire Hathaway Inc. Class B 0.20% 38,684 $18.8M Add +1.8%
GILD Gilead Sciences Inc. 0.20% 163,496 $18.1M Add +277.3%
PM Philip Morris International 0.18% 92,353 $16.8M Reduce -0.0%
V Visa Inc. Class A 0.18% 46,963 $16.7M Add +1.7%
TDG Transdigm Group Inc. 0.17% 10,591 $16.1M Add +45.9%
DGX Quest Diagnostics Inc. 0.17% 88,809 $16.0M Add +0.4%
CCL Carnival Corp. 0.17% 562,296 $15.8M Add +2.9%
XOM Exxon Mobil Corp. 0.17% 144,884 $15.6M Add +0.6%
AIG American International Group 0.17% 179,565 $15.4M Add +2.8%
MO Altria Group Inc. 0.16% 258,228 $15.1M Add +0.4%
VGK Vanguard Ftse Europe ETF 0.16% 192,387 $14.9M Reduce -1.4%
KMI Kinder Morgan Inc. 0.16% 500,708 $14.7M Add +1.0%
AZO AutoZone Inc. 0.16% 3,940 $14.6M Add +3.3%
IWP iShares Russell Mid-Cap Grow 0.16% 105,151 $14.6M Reduce -1.8%
EFA iShares MSCI Eafe ETF 0.16% 161,299 $14.4M Reduce -1.3%
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.15% 13,693 $14.2M Add +3.0%
EEM iShares MSCI Emerging Market 0.15% 289,155 $13.9M Reduce -0.9%
JXN Jackson Financial Inc. Class A 0.15% 156,137 $13.9M Reduce -1.1%
IWD iShares Russell 1000 Value E 0.14% 66,521 $12.9M Reduce -1.5%
CMG Chipotle Mexican Grill Inc. 0.14% 229,286 $12.9M Add +0.8%
AB Alliancebernstein Holding LP 0.14% 314,844 $12.9M Reduce -2.0%
DASH DoorDash Inc. Class A 0.14% 51,677 $12.7M Add +492.9%
TTWO Take-Two Interactive Softwre 0.13% 51,065 $12.4M New
ORI Old Republic Intl Corp. 0.13% 320,694 $12.3M Reduce -2.3%
J Jacobs Solutions Inc. 0.13% 92,027 $12.1M New
BIPC Brookfield Infrastructure-A 0.13% 286,303 $11.9M Add +1.4%
AROC Archrock Inc. 0.13% 475,581 $11.8M Add +3.5%
IWN iShares Russell 2000 Value E 0.13% 74,794 $11.8M Reduce -0.6%
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.12% 344,598 $11.2M Add +2.0%
ADI Analog Devices Inc. 0.12% 44,797 $10.7M Add +4.5%
LNC Lincoln National Corp. 0.11% 300,271 $10.4M Add +1.4%
F Ford Motor Co. filed as FORD MTR CO 0.11% 952,223 $10.3M New
GDE Wisdomtree Efficient Gold PL 0.11% 218,257 $10.3M New
EVRG Evergy Inc. 0.11% 147,233 $10.1M Add +5.0%
VRTX Vertex Pharmaceuticals Inc. 0.11% 21,996 $9.8M Reduce -16.6%
EXR Extra Space Storage Inc. 0.10% 64,634 $9.5M Add +4.4%
CARR Carrier Global Corp. 0.10% 129,637 $9.5M Reduce -1.0%
COIN Coinbase Global Inc. Class A 0.10% 26,810 $9.4M New
T AT&T Inc. 0.10% 324,104 $9.4M Add +1.5%
FNF Fidelity National Financial 0.10% 166,763 $9.3M Reduce -1.9%
DG Dollar General Corp. 0.10% 81,262 $9.3M Add +2.9%
COST Costco Wholesale Corp. 0.10% 9,098 $9.0M Reduce -0.3%
PFE Pfizer Inc. 0.10% 371,083 $9.0M Add +13.5%
PFG Principal Financial Group 0.10% 112,590 $8.9M Add +3.0%
DUK Duke Energy Corp. 0.10% 74,778 $8.8M Reduce -0.6%
KEY Keycorp 0.10% 505,544 $8.8M Add +4.2%
MET Metlife Inc. 0.09% 106,708 $8.6M Reduce -2.0%
GWRE Guidewire Software Inc. 0.09% 36,148 $8.5M New
SPOT Spotify Technology SA 0.09% 10,976 $8.4M Add +122.6%
AES AES Corp. 0.09% 770,025 $8.1M Add +2.3%
AMD Advanced Micro Devices 0.09% 55,608 $7.9M New
UBER Uber Technologies Inc. 0.09% 83,935 $7.8M New
FFIV F5 Inc. 0.08% 26,371 $7.8M New
JHG Janus Henderson Group PLC 0.08% 197,166 $7.7M Reduce -2.3%
VZ Verizon Communications Inc. 0.08% 170,204 $7.4M Add +3.5%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.08% 56,659 $7.0M Reduce -0.7%
ETR Entergy Corp. 0.07% 82,535 $6.9M Add +9.8%
MRSH Marsh & McLennan Cos 0.07% 30,652 $6.7M Reduce -1.0%
D Dominion Energy Inc. 0.07% 116,182 $6.6M New
QCOM Qualcomm Inc. 0.06% 34,776 $5.5M Reduce -23.6%

Show all 164 holdings

Portfolio Sells Q1 2025 → Q2 2025

IWF iShares Russell 1000 Growth Reduce -58.0% 2.68% −3.65
IUSV iShares Core S&P U.S. Value Sold out 0.00% −2.20
XLV SS Health Care Select Sector Reduce -14.3% 3.37% −1.61
XLF SS Financial Select Sector Reduce -0.3% 5.73% −0.66
VOO Vanguard S&P 500 ETF Reduce -0.3% 5.33% −0.32
QQQ Invesco QQQ Trust Series 1 Reduce -3.7% 7.83% −0.24
XLC SS Comm Select Sector SPDR Reduce -0.7% 4.70% −0.21
MDT Medtronic PLC Sold out 0.00% −0.16
XLY SS Consumer Disc Select Sect Reduce -0.2% 2.37% −0.15
UNH Unitedhealth Group Inc. Sold out 0.00% −0.14
INCY Incyte Corp. Sold out 0.00% −0.14
MU Micron Technology Inc. Sold out 0.00% −0.13
STZ Constellation Brands Inc. Class A Sold out 0.00% −0.13
XLI SS Industrial Select Sector Reduce -0.7% 2.73% −0.12
VST Vistra Corp. Sold out 0.00% −0.12
GEHC GE Healthcare Technology Sold out 0.00% −0.12
OKE Oneok Inc. Reduce -0.7% 0.25% −0.11
CFG Citizens Financial Group Sold out 0.00% −0.10
DOC Healthpeak Properties Inc. Sold out 0.00% −0.09
AIZ Assurant Inc. Sold out 0.00% −0.09
CAT Caterpillar Inc. Sold out 0.00% −0.08
NOW ServiceNow Inc. Sold out 0.00% −0.07
SPYV SS SPDR P S&P 500 Value ETF Sold out 0.00% −0.06
VRTX Vertex Pharmaceuticals Inc. Reduce -16.6% 0.11% −0.06
IGV iShares Expanded Tech-Softwa Sold out 0.00% −0.06
IEX Idex Corp. Sold out 0.00% −0.05
HD Home Depot Inc. Reduce -0.4% 0.27% −0.05
FNF Fidelity National Financial Reduce -1.9% 0.10% −0.04
WRB WR Berkley Corp. Reduce -0.3% 0.27% −0.04
ORI Old Republic Intl Corp. Reduce -2.3% 0.13% −0.03
QCOM Qualcomm Inc. Reduce -23.6% 0.06% −0.03
TXT Textron Inc. Sold out 0.00% −0.03
BAC Bank of America Corp. Sold out 0.00% −0.02
BSX Boston Scientific Corp. Reduce -0.5% 0.23% −0.02
MRSH Marsh & McLennan Cos Reduce -1.0% 0.07% −0.02
IWD iShares Russell 1000 Value E Reduce -1.5% 0.14% −0.02
DUK Duke Energy Corp. Reduce -0.6% 0.10% −0.02
MET Metlife Inc. Reduce -2.0% 0.09% −0.02
XYZ Block Inc. Sold out 0.00% −0.02
FBCG Fidelity Blue Chip Grow ETF Sold out 0.00% −0.02
JXN Jackson Financial Inc. Class A Reduce -1.1% 0.15% −0.02
IOT Samsara Inc. Class A Sold out 0.00% −0.02
SPYM Ste STR SPDR PT S&P 500 ETF Reduce -86.9% 0.00% −0.02
AB Alliancebernstein Holding LP Reduce -2.0% 0.14% −0.02
IWN iShares Russell 2000 Value E Reduce -0.6% 0.13% −0.02
AMZN Amazon.com Inc. Reduce -5.8% 0.21% −0.02
CLBT Cellebrite Di Ltd. Sold out 0.00% −0.01
EFA iShares MSCI Eafe ETF Reduce -1.3% 0.16% −0.01
VGK Vanguard Ftse Europe ETF Reduce -1.4% 0.16% −0.01
COST Costco Wholesale Corp. Reduce -0.3% 0.10% −0.01

Portfolio Buys Q1 2025 → Q2 2025

VGT Vanguard Info Tech ETF New 4.93% +4.93
VB Vanguard Most SM-Cap ETF-Usd New 2.43% +2.43
MTUM iShares MSCI USA Momentum Fa New 2.39% +2.39
XLK SS Technology Select Sector Add +4.1% 13.22% +1.12
PLTR Palantir Technologies Inc. Class A New 0.26% +0.26
NFLX Netflix Inc. Add +15.3% 0.55% +0.16
NVDA Nvidia Corp. Add +4.4% 0.67% +0.15
GILD Gilead Sciences Inc. Add +277.3% 0.20% +0.14
TTWO Take-Two Interactive Softwre New 0.13% +0.13
J Jacobs Solutions Inc. New 0.13% +0.13
JPM JPMorgan Chase & Co. Add +109.9% 0.24% +0.12
DASH DoorDash Inc. Class A Add +492.9% 0.14% +0.12
F Ford Motor Co. New 0.11% +0.11
GDE Wisdomtree Efficient Gold PL New 0.11% +0.11
COIN Coinbase Global Inc. Class A New 0.10% +0.10
GWRE Guidewire Software Inc. New 0.09% +0.09
STX Seagate Technology Holdings Add +0.1% 0.29% +0.09
GEV GE Vernova Inc. Add +0.2% 0.27% +0.09
AMD Advanced Micro Devices New 0.09% +0.09
UBER Uber Technologies Inc. New 0.09% +0.09
FFIV F5 Inc. New 0.08% +0.08
MSFT Microsoft Corp. Add +2.8% 0.57% +0.08
GE General Electric Add +16.8% 0.34% +0.08
D Dominion Energy Inc. New 0.07% +0.07
CRWD CrowdStrike Holdings Inc. Class A Add +0.4% 0.31% +0.06
SPOT Spotify Technology SA Add +122.6% 0.09% +0.06
FE Firstenergy Corp. New 0.06% +0.06
EXEL Exelixis Inc. New 0.05% +0.05
CVSA Covista Inc. New 0.05% +0.05
TDG Transdigm Group Inc. Add +45.9% 0.17% +0.05
MCK McKesson Corp. New 0.04% +0.04
PEN Penumbra Inc. New 0.04% +0.04
CCL Carnival Corp. Add +2.9% 0.17% +0.04
VOT Vngrd Mrngstr MC GRW ETF-Usd New 0.04% +0.04
TLN Talen Energy Corp. New 0.03% +0.03
WMT Walmart Inc. New 0.03% +0.03
BKNG Booking Holdings Inc. New 0.03% +0.03
META Meta Platforms Inc. Class A Add +0.3% 0.32% +0.03
CR Crane Co. New 0.03% +0.03
SHAK Shake Shack Inc. Class A New 0.02% +0.02
CAH Cardinal Health Inc. Add +0.4% 0.44% +0.02
ORCL Oracle Corp. Add +1.8% 0.06% +0.01
DXJ Wisdomtree Japan Hedged Eq New 0.01% +0.01
ETN Eaton Corp. PLC New 0.01% +0.01
DG Dollar General Corp. Add +2.9% 0.10% +0.01
BA The Boeing Co. New 0.01% +0.01
C Citigroup Inc. New 0.01% +0.01
HNGE Hinge Health Inc. Class A New 0.01% +0.01
AS Amer Sports Inc. New 0.01% +0.01
ADI Analog Devices Inc. Add +4.5% 0.12% +0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2025 164$9.2BXLK, QQQ, SPY, XLF, IVV
Q1 2025 156$7.9BXLK, QQQ, SPY, XLF, IWF
Q4 2024 164$9.2BXLK, QQQ, SPY, IWF, XLF
Q3 2024 160$8.7BXLK, QQQ, SPY, IWF, XLF
Q2 2024 163$8.5BQQQ, XLK, SPY, IWF, IVV
Q1 2024 162$8.0BXLK, QQQ, SPY, IWF, IVV