CHURCHILL MANAGEMENT Corp

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 25, 2025), CHURCHILL MANAGEMENT Corp reported 156 stock positions worth $7.9 billion. Its top holding was SS Technology Select Sector (XLK) at 12.1% of the portfolio, followed by Invesco QQQ Trust Series 1 (QQQ, 8.1%) and SS SPDR S&P 500 ETF Trust-US (SPY, 7.4%). Compared with Q4 2024, it opened 21 new positions, sold out of 29, added to 45 and reduced 76. The biggest buy was a new position in SS Consumer Staples Sel Sect (XLP) and the biggest sale an exit from Fidelity MSCI Info Tech Indx (FTEC).

Most Recent 13F
Q2 2025
Location
Los Angeles, CA
CIK
0001094749
Portfolio Value
$7.9B (Q1 2025)
SEC Filing
0000935836-25-000293 ↗ filed Apr 25, 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 $7.9B Q1 2025 Q2 2025: $9.2B Q2 2025

Holdings 156 stocks · $7.9B
XLK SS Technology Select Sector 12.10% 4,619,895 $953.9M Reduce -10.0%
QQQ Invesco QQQ Trust Series 1 8.07% 1,356,746 $636.2M Reduce -26.3%
SPY SS SPDR S&P 500 ETF Trust-US 7.42% 1,045,562 $584.9M Reduce -0.6%
XLF SS Financial Select Sector 6.39% 10,112,436 $503.7M Reduce -2.0%
IWF iShares Russell 1000 Growth 6.33% 1,382,503 $499.2M Reduce -0.3%
IVV iShares Core S&P 500 ETF 5.87% 823,252 $462.6M Add +0.1%
VOO Vanguard S&P 500 ETF 5.65% 866,949 $445.5M Reduce -0.9%
VTV Vanguard Mrngstr Val ETF-Aui 5.60% 2,557,100 $441.7M Reduce -0.2%
XLV SS Health Care Select Sector 4.98% 2,690,451 $392.8M Add +37.6%
XLC SS Comm Select Sector SPDR 4.92% 4,018,913 $387.6M Reduce -1.6%
IWB iShares Russell 1000 ETF 3.08% 792,824 $243.2M Add +0.2%
XLI SS Industrial Select Sector 2.85% 1,717,374 $225.1M Reduce -31.5%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 2.83% 531,476 $223.2M Reduce -1.2%
XLY SS Consumer Disc Select Sect 2.52% 1,006,297 $198.7M Reduce -34.6%
XLP SS Consumer Staples Sel Sect 2.41% 2,322,253 $189.7M New
IUSV iShares Core S&P U.S. Value 2.20% 1,877,261 $173.3M New
XLU St Sr Utl SL SE SPDR ETF-Usd 0.98% 975,982 $77.0M Reduce -0.4%
AAPL Apple Inc. 0.64% 225,774 $50.2M Add +1.3%
AVGO Broadcom Inc. 0.63% 297,259 $49.8M Reduce -17.5%
NVDA Nvidia Corp. 0.51% 372,265 $40.3M Reduce -13.1%
MSFT Microsoft Corp. 0.49% 102,062 $38.3M Reduce -5.7%
CAH Cardinal Health Inc. 0.42% 241,839 $33.3M Add +0.6%
GOOGL Alphabet Inc. Class A 0.39% 199,599 $30.9M Reduce -11.8%
NFLX Netflix Inc. 0.39% 33,027 $30.8M Reduce -1.5%
OKE Oneok Inc. 0.35% 281,979 $28.0M Add +0.1%
HD Home Depot Inc. 0.32% 67,989 $24.9M Reduce 0.0%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.30% 333,988 $23.8M Reduce -0.4%
META Meta Platforms Inc. Class A 0.29% 39,514 $22.8M Reduce -11.8%
GE General Electric filed as GE AEROSPACE 0.27% 104,388 $20.9M Reduce -0.6%
BRK.B Berkshire Hathaway Inc. Class B 0.26% 38,016 $20.2M Add +0.8%
BSX Boston Scientific Corp. 0.25% 196,692 $19.8M Reduce -0.3%
CRWD CrowdStrike Holdings Inc. Class A 0.25% 55,226 $19.5M New
WFC Wells Fargo & Co. 0.23% 250,986 $18.0M New
AMZN Amazon.com Inc. 0.22% 91,760 $17.5M Reduce -5.5%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.22% 69,303 $17.2M Add +1.0%
XOM Exxon Mobil Corp. 0.22% 143,976 $17.1M Add +3.1%
V Visa Inc. Class A 0.21% 46,190 $16.2M Add +1.5%
STX Seagate Technology Holdings 0.20% 182,248 $15.5M Add +0.8%
MO Altria Group Inc. 0.20% 257,154 $15.4M Add +3.3%
AIG American International Group 0.19% 174,680 $15.2M Add +3.2%
DGX Quest Diagnostics Inc. 0.19% 88,416 $15.0M New
PM Philip Morris International 0.19% 92,388 $14.7M Add +2.1%
AZO AutoZone Inc. 0.18% 3,815 $14.5M Add +4.2%
GEV GE Vernova Inc. 0.18% 46,726 $14.3M Add +96.1%
KMI Kinder Morgan Inc. 0.18% 495,952 $14.1M Add +2.0%
VGK Vanguard Ftse Europe ETF 0.17% 195,223 $13.7M New
EFA iShares MSCI Eafe ETF 0.17% 163,389 $13.4M New
JXN Jackson Financial Inc. Class A 0.17% 157,876 $13.2M Add +0.3%
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.17% 13,291 $13.1M Add +1.5%
ORI Old Republic Intl Corp. 0.16% 328,227 $12.9M Reduce -1.7%
VRTX Vertex Pharmaceuticals Inc. 0.16% 26,388 $12.8M Reduce -42.0%
EEM iShares MSCI Emerging Market 0.16% 291,669 $12.7M Add +0.8%
IWD iShares Russell 1000 Value E 0.16% 67,504 $12.7M Reduce -1.2%
IWP iShares Russell Mid-Cap Grow 0.16% 107,077 $12.6M Reduce -1.8%
MDT Medtronic PLC 0.16% 139,656 $12.5M New
AB Alliancebernstein Holding LP 0.16% 321,289 $12.3M New
AROC Archrock Inc. 0.15% 459,301 $12.1M Add +3.3%
UNH Unitedhealth Group Inc. 0.14% 21,809 $11.4M Reduce -1.1%
CMG Chipotle Mexican Grill Inc. 0.14% 227,467 $11.4M Reduce -48.5%
IWN iShares Russell 2000 Value E 0.14% 75,205 $11.4M Reduce -0.4%
INCY Incyte Corp. 0.14% 185,009 $11.2M Add +3.4%
FNF Fidelity National Financial 0.14% 170,046 $11.1M Reduce -1.0%
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.14% 337,951 $11.0M Add +8.4%
CCL Carnival Corp. 0.14% 546,487 $10.7M Add +2.9%
LNC Lincoln National Corp. 0.13% 296,232 $10.6M Add +3.5%
MU Micron Technology Inc. 0.13% 120,219 $10.4M Add +5.2%
STZ Constellation Brands Inc. Class A 0.13% 55,779 $10.2M New
BIPC Brookfield Infrastructure-A 0.13% 282,457 $10.2M Add +3.2%
TDG Transdigm Group Inc. 0.13% 7,258 $10.0M Add +28.1%
EVRG Evergy Inc. 0.12% 140,244 $9.7M Add +10.0%
VST Vistra Corp. 0.12% 81,149 $9.5M Add +3.0%
AES AES Corp. 0.12% 752,397 $9.3M New
PFG Principal Financial Group 0.12% 109,318 $9.2M Add +4.1%
EXR Extra Space Storage Inc. 0.12% 61,928 $9.2M Add +6.3%
DUK Duke Energy Corp. 0.12% 75,234 $9.2M Add +0.1%
GEHC GE Healthcare Technology 0.12% 112,750 $9.1M Add +5.0%
T AT&T Inc. 0.11% 319,311 $9.0M Add +1.1%
JPM JPMorgan Chase & Co. 0.11% 35,739 $8.8M Reduce -0.9%
MET Metlife Inc. 0.11% 108,920 $8.7M Add +20.4%
ADI Analog Devices Inc. 0.11% 42,883 $8.6M New
COST Costco Wholesale Corp. 0.11% 9,128 $8.6M Reduce -0.8%
CARR Carrier Global Corp. 0.11% 130,973 $8.3M Reduce -2.1%
PFE Pfizer Inc. 0.11% 326,865 $8.3M New
CFG Citizens Financial Group 0.10% 196,232 $8.0M Add +5.6%
KEY Keycorp 0.10% 485,044 $7.8M Add +4.2%
MRSH Marsh & McLennan Cos 0.10% 30,963 $7.6M Reduce -2.7%
VZ Verizon Communications Inc. 0.09% 164,417 $7.5M Add +9.1%
DOC Healthpeak Properties Inc. 0.09% 364,478 $7.4M Add +7.9%
JHG Janus Henderson Group PLC 0.09% 201,792 $7.3M Reduce -1.4%
QCOM Qualcomm Inc. 0.09% 45,529 $7.0M Reduce -0.2%
DG Dollar General Corp. 0.09% 78,955 $6.9M New
AIZ Assurant Inc. 0.09% 32,149 $6.7M Add +2.9%
CAT Caterpillar Inc. 0.08% 19,797 $6.5M Reduce -1.1%
ETR Entergy Corp. 0.08% 75,151 $6.4M New
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.07% 57,043 $5.6M Reduce -1.4%
NOW ServiceNow Inc. 0.07% 6,886 $5.5M Reduce -47.0%
GILD Gilead Sciences Inc. 0.06% 43,331 $4.9M New
SPYV SS SPDR P S&P 500 Value ETF 0.06% 94,430 $4.8M Reduce -39.3%
RSP Invesco S&P 500 Equal Weight 0.06% 26,127 $4.5M Reduce -9.6%
IGV iShares Expanded Tech-Softwa 0.06% 49,220 $4.4M Reduce -79.2%
UHS Universal Health Services-B 0.05% 22,408 $4.2M Add +0.5%
CAVA Cava Group Inc. 0.05% 46,250 $4.0M Reduce -4.9%
IEX Idex Corp. 0.05% 21,913 $4.0M Reduce -0.8%
CPRT Copart Inc. 0.04% 61,721 $3.5M Add +0.7%
KEYS Keysight Technologies Inc. 0.04% 21,476 $3.2M New
ORCL Oracle Corp. 0.04% 22,934 $3.2M Reduce -0.9%
APP AppLovin Corp. Class A 0.04% 10,551 $2.8M Add +288.5%
SPOT Spotify Technology SA 0.03% 4,931 $2.7M Reduce -4.5%
TXT Textron Inc. 0.03% 29,835 $2.2M Reduce -0.8%
BTSG Brightspring Health Services 0.03% 118,247 $2.1M Reduce -3.0%
CVX Chevron Corp. 0.03% 12,558 $2.1M Reduce -4.2%
ZS Zscaler Inc. 0.03% 10,498 $2.1M Reduce -4.2%
FTNT Fortinet Inc. 0.03% 20,866 $2.0M Reduce -3.8%
GLW Corning Inc. 0.03% 43,320 $2.0M Reduce -4.5%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.02% 47,131 $2.0M New
WAY Waystar Holding Corp. 0.02% 50,444 $1.9M Reduce -2.8%
CPNG Coupang Inc. 0.02% 78,161 $1.7M Reduce -2.7%
SEIC Sei Investments Company 0.02% 21,355 $1.7M Reduce -3.1%
DASH DoorDash Inc. Class A 0.02% 8,716 $1.6M New
SPYM Ste STR SPDR PT S&P 500 ETF 0.02% 23,145 $1.5M Add +168.6%
IR Ingersoll-Rand Inc. 0.02% 18,230 $1.5M Reduce -93.1%
MA Mastercard Inc. Class A 0.02% 2,569 $1.4M Reduce -52.4%
XYZ Block Inc. 0.02% 25,236 $1.4M Reduce -30.7%
FBCG Fidelity Blue Chip Grow ETF 0.02% 34,185 $1.4M Reduce -2.6%
IOT Samsara Inc. Class A 0.02% 35,087 $1.3M Reduce -33.0%
ISRG Intuitive Surgical Inc. 0.02% 2,529 $1.3M Reduce -9.5%
RKLB Rocket Lab USA Inc. 0.01% 61,853 $1.1M Reduce -10.4%
SPYG SS SPDR P S&P 500 Growth ETF 0.01% 13,540 $1.1M Reduce -5.1%
CLBT Cellebrite Di Ltd. 0.01% 53,863 $1.0M Reduce -9.8%
PWR Quanta Services Inc. 0.01% 3,970 $1.0M Reduce -8.9%
TOST Toast Inc. Class A 0.01% 30,096 $998K Reduce -9.5%
MELI MercadoLibre Inc. 0.01% 493 $962K Reduce -8.9%
EMN Eastman Chemical Co. 0.01% 10,378 $914K Reduce -9.1%
FXI iShares China Large-Cap ETF 0.01% 25,405 $911K Reduce -9.1%
CYBR Cyberark Software Ltd./Israel 0.01% 2,109 $713K Reduce -8.0%
DOCU Docusign Inc. 0.01% 8,592 $699K Reduce -8.7%
HIMS Hims & Hers Health Inc. 0.01% 16,532 $489K Reduce -10.1%
SLV iShares Silver Trust 0.01% 15,400 $477K New
IWO iShares Russell 2000 Growth 0.00% 1,422 $363K Reduce -99.8%
GOOG Alphabet Inc. Class C 0.00% 2,122 $331K Reduce -5.2%
AMNE American Green Group Inc. 0.00% 87,500 $0 No change
KADR Arcadia Resources Inc. 0.00% 364,150 $0 No change
BLTA Baltia Air Lines Inc. 0.00% 65,000 $0 No change
ENGFF Energulf Resources Inc. 0.00% 24,950 $0 No change
ELED Exeled Holdings Inc. 0.00% 500,000 $0 New
FPFXQ Firstplus Financial Group 0.00% 177,000 $0 No change
IBZT Ibiz Technology Corp. 0.00% 15,000 $0 No change
IGRU International Gold Resources 0.00% 17,150 $0 No change
LEH BROTHERS HLDGS XXX filed as ESCROW LEHMAN BROS HLDGS INC C 0.00% 28,462 $0 Reduce -14.9%
NPDTE Newport Digital Technologies 0.00% 10,000 $0 No change
NBVG Nutripure Beverages Inc. 0.00% 100,000 $0 No change
ENTERTAINMENT SHS 0.00% 80,000 $0 No change
SMBZF Simba Essel Energy Inc. 0.00% 25,000 $0 No change
VLBI Valentine Beauty Inc. 0.00% 10,000 $0 No change
VPOR Vapor Group Inc. 0.00% 150,000 $0 No change
VIRTUAL ED LINK INC RESTRICTED 0.00% 120,000 $0 No change

Portfolio Sells Q4 2024 → Q1 2025
FTEC Fidelity MSCI Info Tech Indx Sold out 0.00% −2.61
AVUV Avantis US Small Cap Value Sold out 0.00% −2.38
IWO iShares Russell 2000 Growth Reduce -99.8% 0.00% −2.29
QQQ Invesco QQQ Trust Series 1 Reduce -26.3% 8.07% −2.20
XLY SS Consumer Disc Select Sect Reduce -34.6% 2.52% −1.25
XLK SS Technology Select Sector Reduce -10.0% 12.10% −0.93
XLI SS Industrial Select Sector Reduce -31.5% 2.85% −0.75
AVGO Broadcom Inc. Reduce -17.5% 0.63% −0.28
IR Ingersoll-Rand Inc. Reduce -93.1% 0.02% −0.24
FTAI Ftai Aviation Ltd. Sold out 0.00% −0.24
IGV iShares Expanded Tech-Softwa Reduce -79.2% 0.06% −0.20
ANET Arista Networks Inc. Sold out 0.00% −0.20
IRM Iron Mountain Inc. Sold out 0.00% −0.20
IWV iShares Russell 3000 ETF Sold out 0.00% −0.18
CMG Chipotle Mexican Grill Inc. Reduce -48.5% 0.14% −0.15
IWM iShares Russell 2000 ETF Sold out 0.00% −0.14
VWO Vanguard Ftse Emerging Marke Sold out 0.00% −0.13
DHR Danaher Corp. Sold out 0.00% −0.13
EPAM Epam Systems Inc. Sold out 0.00% −0.12
CRM Salesforce Inc. Sold out 0.00% −0.12
F Ford Motor Co. Sold out 0.00% −0.12
NVDA Nvidia Corp. Reduce -13.1% 0.51% −0.12
PRU Prudential Financial Inc. Sold out 0.00% −0.11
SYY Sysco Corp. Sold out 0.00% −0.10
NOW ServiceNow Inc. Reduce -47.0% 0.07% −0.08
GOOGL Alphabet Inc. Class A Reduce -11.8% 0.39% −0.08
EIX Edison International Sold out 0.00% −0.07
PANW Palo Alto Networks Inc. Sold out 0.00% −0.07
AMCR Amcor PLC Sold out 0.00% −0.07
PSN Parsons Corp. Sold out 0.00% −0.06
NTAP Netapp Inc. Sold out 0.00% −0.05
VRTX Vertex Pharmaceuticals Inc. Reduce -42.0% 0.16% −0.04
TTD Trade Desk Inc./the Class A Sold out 0.00% −0.04
TQQQ Proshares Ultrapro QQQ Sold out 0.00% −0.03
SPYV SS SPDR P S&P 500 Value ETF Reduce -39.3% 0.06% −0.03
ARM Arm Holdings PLC-ADR Sold out 0.00% −0.03
LDOS Leidos Holdings Inc. Sold out 0.00% −0.02
VIST Vista Energy Sab DE CV Sold out 0.00% −0.02
GNRC Generac Holdings Inc. Sold out 0.00% −0.02
XYZ Block Inc. Reduce -30.7% 0.02% −0.02
MA Mastercard Inc. Class A Reduce -52.4% 0.02% −0.01
MSFT Microsoft Corp. Reduce -5.7% 0.49% −0.01
AMZN Amazon.com Inc. Reduce -5.5% 0.22% −0.01
PAY Paymentus Holdings Inc. Class A Sold out 0.00% −0.01
SHAK Shake Shack Inc. Class A Sold out 0.00% −0.01
CAVA Cava Group Inc. Reduce -4.9% 0.05% −0.01
TBCH Turtle Beach Corp. Sold out 0.00% −0.01
IOT Samsara Inc. Class A Reduce -33.0% 0.02% −0.01
VRT Vertiv Holdings Co. Class A Sold out 0.00% −0.01
RKLB Rocket Lab USA Inc. Reduce -10.4% 0.01% −0.01

Portfolio Buys Q4 2024 → Q1 2025
XLP SS Consumer Staples Sel Sect New 2.41% +2.41
IUSV iShares Core S&P U.S. Value New 2.20% +2.20
XLV SS Health Care Select Sector Add +37.6% 4.98% +2.05
IVV iShares Core S&P 500 ETF Add +0.1% 5.87% +0.58
IWB iShares Russell 1000 ETF Add +0.2% 3.08% +0.30
CRWD CrowdStrike Holdings Inc. Class A New 0.25% +0.25
WFC Wells Fargo & Co. New 0.23% +0.23
DGX Quest Diagnostics Inc. New 0.19% +0.19
VGK Vanguard Ftse Europe ETF New 0.17% +0.17
EFA iShares MSCI Eafe ETF New 0.17% +0.17
MDT Medtronic PLC New 0.16% +0.16
AB Alliancebernstein Holding LP New 0.16% +0.16
STZ Constellation Brands Inc. Class A New 0.13% +0.13
AES AES Corp. New 0.12% +0.12
CAH Cardinal Health Inc. Add +0.6% 0.42% +0.11
ADI Analog Devices Inc. New 0.11% +0.11
PFE Pfizer Inc. New 0.11% +0.11
GEV GE Vernova Inc. Add +96.1% 0.18% +0.10
DG Dollar General Corp. New 0.09% +0.09
ETR Entergy Corp. New 0.08% +0.08
BRK.B Berkshire Hathaway Inc. Class B Add +0.8% 0.26% +0.07
PM Philip Morris International Add +2.1% 0.19% +0.07
GILD Gilead Sciences Inc. New 0.06% +0.06
AIG American International Group Add +3.2% 0.19% +0.06
AZO AutoZone Inc. Add +4.2% 0.18% +0.06
IBM Intl Business Machines Corp. Add +1.0% 0.22% +0.05
MO Altria Group Inc. Add +3.3% 0.20% +0.05
XOM Exxon Mobil Corp. Add +3.1% 0.22% +0.05
TDG Transdigm Group Inc. Add +28.1% 0.13% +0.05
V Visa Inc. Class A Add +1.5% 0.21% +0.05
OKE Oneok Inc. Add +0.1% 0.35% +0.05
KEYS Keysight Technologies Inc. New 0.04% +0.04
VICI Vici Properties Inc. Add +8.4% 0.14% +0.04
EVRG Evergy Inc. Add +10.0% 0.12% +0.04
T AT&T Inc. Add +1.1% 0.11% +0.04
LNC Lincoln National Corp. Add +3.5% 0.13% +0.04
KMI Kinder Morgan Inc. Add +2.0% 0.18% +0.03
AROC Archrock Inc. Add +3.3% 0.15% +0.03
MET Metlife Inc. Add +20.4% 0.11% +0.03
EEM iShares MSCI Emerging Market Add +0.8% 0.16% +0.03
VZ Verizon Communications Inc. Add +9.1% 0.09% +0.03
PFG Principal Financial Group Add +4.1% 0.12% +0.03
DUK Duke Energy Corp. Add +0.1% 0.12% +0.03
MU Micron Technology Inc. Add +5.2% 0.13% +0.03
AAPL Apple Inc. Add +1.3% 0.64% +0.03
STX Seagate Technology Holdings Add +0.8% 0.20% +0.03
APP AppLovin Corp. Class A Add +288.5% 0.04% +0.03
BAC Bank of America Corp. New 0.02% +0.02
GEHC GE Healthcare Technology Add +5.0% 0.12% +0.02
EXR Extra Space Storage Inc. Add +6.3% 0.12% +0.02

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