Trust Asset Management LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), Trust Asset Management LLC reported 230 stock positions worth $1.5 billion. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 55.5% of the portfolio, followed by SS Industrial Select Sector (XLI, 3.8%) and Nvidia (NVDA, 3.6%). Compared with Q2 2025, it opened 8 new positions, sold out of 2, added to 1 and reduced 5. The biggest buy was a new position in Teradyne (TER) and the biggest sale an exit from Howmet Aerospace (HWM).

Most Recent 13F
Q2 2026
Location
HOUSTON, TX
CIK
0001608376
Portfolio Value
$1.5B (Q3 2025)
SEC Filing
0001172661-25-004719 ↗ filed Nov 12, 2025

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q1 2024: $1.1B Q1 2024 Q2 2024: $1.2B Q2 2024 Q3 2024: $1.3B Q3 2024 Q4 2024: $1.3B Q4 2024 Q1 2025: $1.2B Q1 2025 Q2 2025: $1.3B Q2 2025 Q3 2025: $1.5B $1.5B Q3 2025 Q4 2025: $1.5B Q4 2025 Q1 2026: $1.4B Q1 2026 Q2 2026: $1.6B Q2 2026

Holdings 230 stocks · $1.5B
SPY SS SPDR S&P 500 ETF Trust-US 55.49% 1,211,945 $807.4M No change
XLI SS Industrial Select Sector 3.76% 354,864 $54.7M No change
NVDA Nvidia Corp. 3.62% 282,268 $52.7M No change
MSFT Microsoft Corp. 3.05% 85,614 $44.3M No change
AAPL Apple Inc. 3.04% 173,947 $44.3M No change
XLP SS Consumer Staples Sel Sect 2.18% 405,519 $31.8M No change
GOOG Alphabet Inc. Class C 2.04% 121,609 $29.6M No change
AMZN Amazon.com Inc. 1.63% 107,761 $23.7M No change
XLE SS Energy Select Sector 1.30% 211,348 $18.9M No change
META Meta Platforms Inc. Class A 1.27% 25,105 $18.4M No change
AVGO Broadcom Inc. 1.22% 53,767 $17.7M No change
XLU St Sr Utl SL SE SPDR ETF-Usd 1.06% 176,270 $15.4M No change
TSLA Tesla Inc. 0.98% 32,053 $14.3M No change
XLRE SS Real Estate Select Sector 0.86% 295,390 $12.4M No change
XLB SS Materials Select Sector 0.79% 129,052 $11.6M No change
BRK.B Berkshire Hathaway Inc. Class B 0.73% 21,099 $10.6M No change
JPM JPMorgan Chase & Co. 0.70% 32,424 $10.2M No change
LLY Eli Lilly & Co. 0.48% 9,072 $6.9M No change
V Visa Inc. Class A 0.47% 19,899 $6.8M No change
NFLX Netflix Inc. 0.41% 4,926 $5.9M No change
MA Mastercard Inc. Class A 0.37% 9,447 $5.4M No change
ORCL Oracle Corp. 0.36% 18,491 $5.2M No change
JNJ Johnson & Johnson 0.35% 27,747 $5.1M No change
ABBV Abbvie Inc. 0.32% 20,346 $4.7M No change
HD Home Depot Inc. 0.32% 11,443 $4.6M No change
PLTR Palantir Technologies Inc. Class A 0.30% 23,662 $4.3M No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.27% 76,883 $4.0M No change
UNH Unitedhealth Group Inc. 0.25% 10,600 $3.7M No change
WFC Wells Fargo & Co. 0.24% 40,968 $3.4M No change
CSCO Cisco Systems Inc. 0.22% 46,013 $3.1M No change
AMD Advanced Micro Devices 0.21% 18,691 $3.0M No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.21% 10,616 $3.0M No change
GS Goldman Sachs Group Inc. 0.20% 3,623 $2.9M No change
ABT Abbott Laboratories 0.18% 19,983 $2.7M No change
C Citigroup Inc. 0.18% 26,289 $2.7M Reduce -0.1%
CRM Salesforce Inc. 0.18% 11,033 $2.6M No change
MCD McDonald's Corp. 0.17% 8,264 $2.5M No change
MRK Merck & Co. Inc. 0.17% 29,141 $2.4M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.16% 20,872 $2.4M No change
T AT&T Inc. 0.16% 82,574 $2.3M No change
MS Morgan Stanley 0.16% 14,311 $2.3M No change
INTU Intuit Inc. 0.15% 3,221 $2.2M No change
NOW ServiceNow Inc. 0.15% 2,372 $2.2M No change
TMO Thermo Fisher Scientific Inc. 0.15% 4,414 $2.1M No change
AXP American Express Co. 0.15% 6,422 $2.1M No change
MU Micron Technology Inc. 0.15% 12,734 $2.1M No change
QCOM Qualcomm Inc. 0.15% 12,804 $2.1M No change
VZ Verizon Communications Inc. 0.15% 48,463 $2.1M No change
BKNG Booking Holdings Inc. 0.14% 381 $2.1M No change
LRCX Lam Research Corp. 0.14% 14,872 $2.0M No change
BLK BlackRock Inc. 0.13% 1,679 $2.0M No change
AMAT Applied Materials Inc. 0.13% 9,514 $1.9M No change
TXN Texas Instruments Inc. 0.13% 10,497 $1.9M No change
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.13% 13,023 $1.9M No change
ISRG Intuitive Surgical Inc. 0.13% 4,094 $1.8M No change
ADBE Adobe Inc. 0.12% 5,075 $1.8M No change
SPGI S&P Global Inc. 0.12% 3,668 $1.8M No change
ACN Accenture PLC Class A 0.12% 7,197 $1.8M No change
AMGN Amgen Inc. 0.12% 6,178 $1.7M No change
ANET Arista Networks Inc. 0.12% 11,853 $1.7M No change
APH Amphenol Corp. Class A 0.12% 13,879 $1.7M No change
KLAC KLA Corp. 0.11% 1,547 $1.7M No change
PGR Progressive Corp. 0.11% 6,735 $1.7M No change
PFE Pfizer Inc. 0.11% 65,183 $1.7M No change
INTC Intel Corp. 0.11% 49,229 $1.7M No change
BSX Boston Scientific Corp. 0.11% 16,900 $1.6M No change
SCHW Schwab (charles) Corp. 0.11% 17,244 $1.6M No change
LOW Lowe's Cos Inc. 0.11% 6,545 $1.6M No change
GILD Gilead Sciences Inc. 0.11% 14,343 $1.6M No change
COF Capital One Financial Corp. 0.11% 7,363 $1.6M No change
PANW Palo Alto Networks Inc. 0.10% 7,497 $1.5M No change
DHR Danaher Corp. 0.10% 7,415 $1.5M No change
SYK Stryker Corp. 0.10% 3,943 $1.5M No change
BX Blackstone Inc. 0.10% 8,316 $1.4M No change
MDT Medtronic PLC 0.10% 14,832 $1.4M No change
ADI Analog Devices Inc. 0.10% 5,728 $1.4M No change
CMCSA Comcast Corp. Class A 0.10% 44,071 $1.4M No change
TMUS T-Mobile US Inc. 0.09% 5,615 $1.3M No change
CRWD CrowdStrike Holdings Inc. Class A 0.09% 2,662 $1.3M No change
CB Chubb Ltd. 0.08% 4,329 $1.2M No change
VRTX Vertex Pharmaceuticals Inc. 0.08% 2,962 $1.2M No change
MRSH Marsh & McLennan Cos 0.08% 5,662 $1.1M No change
MCK McKesson Corp. 0.08% 1,471 $1.1M No change
CME Cme Group Inc. 0.08% 4,145 $1.1M No change
ICE Intercontinental Exchange Inc. 0.08% 6,589 $1.1M No change
CDNS Cadence Design SYS Inc. 0.08% 3,158 $1.1M No change
SBUX Starbucks Corp. 0.08% 13,076 $1.1M No change
CVS CVS Health Corp. 0.08% 14,536 $1.1M No change
ORLY O'reilly Automotive Inc. 0.07% 10,035 $1.1M No change
DASH DoorDash Inc. Class A 0.07% 3,892 $1.1M No change
BMY Bristol-Myers Squibb Co. 0.07% 23,444 $1.1M No change
SNPS Synopsys Inc. 0.07% 2,104 $1.0M Add +19.1%
KKR KKR & Co. Inc. 0.07% 7,763 $1.0M No change
NKE Nike Inc. Class B 0.07% 13,769 $960K No change
CI The Cigna Group 0.06% 3,211 $926K No change
PNC PNC Financial Services Group 0.06% 4,582 $921K No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.06% 8,388 $914K No change
RCL Royal Caribbean Cruises Ltd. 0.06% 2,823 $913K No change
HCA HCA Healthcare Inc. 0.06% 2,108 $898K No change
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.06% 2,865 $887K No change

Show all 230 holdings

Portfolio Sells Q2 2025 → Q3 2025
HWM Howmet Aerospace Inc. Sold out 0.00% −0.05
ANSS Ansys Inc. Sold out 0.00% −0.03
DELL Dell Technologies -C Reduce -37.2% 0.03% −0.02
F Ford Motor Co. Reduce -15.7% 0.04% −0.01
GEHC GE Healthcare Technology Reduce -0.5% 0.03% −0.00
GM General Motors Co. Reduce -2.5% 0.06% +0.01
C Citigroup Inc. Reduce -0.1% 0.18% +0.02

Portfolio Buys Q2 2025 → Q3 2025
TER Teradyne Inc. New 0.02% +0.02
APTV Aptiv PLC New 0.02% +0.02
GPC Genuine Parts Co. New 0.02% +0.02
WST West Pharmaceutical Services New 0.02% +0.02
FFIV F5 Inc. New 0.01% +0.01
LVS Las Vegas Sands Corp. New 0.01% +0.01
L Loews Corp. New 0.01% +0.01
PFG Principal Financial Group New 0.01% +0.01
SNPS Synopsys Inc. Add +19.1% 0.07% +0.00

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026Amended 229$1.6BSPY, XLI, NVDA, AAPL, GOOG
Q1 2026 225$1.4BSPY, XLI, NVDA, AAPL, GOOG
Q4 2025 226$1.5BSPY, XLI, NVDA, AAPL, MSFT
Q3 2025 230$1.5BSPY, XLI, NVDA, MSFT, AAPL
Q2 2025 224$1.3BSPY, XLI, NVDA, MSFT, AAPL
Q1 2025 219$1.2BSPY, XLI, AAPL, XLP, MSFT
Q4 2024 226$1.3BSPY, XLI, AAPL, NVDA, MSFT
Q3 2024 231$1.3BSPY, XLI, AAPL, MSFT, NVDA
Q2 2024 219$1.2BSPY, XLI, MSFT, AAPL, NVDA
Q1 2024 223$1.1BSPY, XLI, MSFT, XLP, AAPL