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
MSI Motorola Solutions Inc. 0.06% 1,929 $882K No change
AON Aon PLC Class A 0.06% 2,467 $880K No change
ELV Elevance Health Inc. 0.06% 2,690 $869K No change
USB US Bancorp 0.06% 17,831 $862K No change
MCO Moody's Corp. 0.06% 1,796 $856K No change
FISV Fiserv Inc. 0.06% 6,571 $847K No change
AZO AutoZone Inc. 0.06% 196 $841K No change
GM General Motors Co. 0.06% 13,544 $826K Reduce -2.5%
COIN Coinbase Global Inc. Class A 0.06% 2,389 $806K No change
ADSK Autodesk Inc. 0.05% 2,481 $788K No change
PYPL PayPal Holdings Inc. 0.05% 11,588 $777K No change
TEL Te Connectivity PLC 0.05% 3,462 $760K No change
ZTS Zoetis Inc. 0.05% 5,192 $760K No change
HLT Hilton Worldwide Holdings Inc. 0.05% 2,833 $735K No change
TRV The Travelers Cos Inc. 0.05% 2,619 $731K No change
GLW Corning Inc. 0.05% 8,883 $729K No change
TFC Truist Financial Corp. 0.05% 15,324 $701K No change
MAR Marriott International Class A 0.05% 2,670 $695K No change
APO Apollo Global Management Inc. 0.05% 5,147 $686K No change
REGN Regeneron Pharmaceuticals 0.05% 1,213 $682K No change
NXPI NXP Semiconductors NV 0.05% 2,936 $669K No change
ALL Allstate Corp. 0.05% 3,057 $656K No change
AFL Aflac Inc. 0.04% 5,816 $650K No change
COR Cencora Inc. 0.04% 1,996 $624K No change
BDX Becton Dickinson and Co. 0.04% 3,320 $621K No change
FTNT Fortinet Inc. 0.04% 7,352 $618K No change
ROP Roper Technologies Inc. 0.04% 1,236 $616K No change
AIG American International Group 0.04% 7,839 $616K No change
CMG Chipotle Mexican Grill Inc. 0.04% 15,704 $615K No change
ABNB Airbnb Inc. Class A 0.04% 4,997 $607K No change
IDXX Idexx Laboratories Inc. 0.04% 949 $606K No change
WDAY Workday Inc. Class A 0.04% 2,453 $591K No change
ROST Ross Stores Inc. 0.04% 3,834 $584K No change
F Ford Motor Co. filed as FORD MTR CO 0.04% 48,407 $579K Reduce -15.7%
DHI D.R. Horton Inc. 0.04% 3,379 $573K No change
STX Seagate Technology Holdings 0.04% 2,398 $566K No change
MET Metlife Inc. 0.04% 6,783 $559K No change
EA Electronic Arts Inc. 0.04% 2,768 $558K No change
AMP Ameriprise Financial Inc. 0.04% 1,127 $554K No change
EW Edwards Lifesciences Corp. 0.04% 6,825 $531K No change
MSCI MSCI Inc. 0.04% 905 $514K No change
MPWR Monolithic Power Systems Inc. 0.04% 554 $510K No change
EBAY eBay Inc. 0.03% 5,578 $507K No change
WBD Warner Bros Discovery Inc. 0.03% 25,766 $503K No change
DELL Dell Technologies -C 0.03% 3,548 $503K Reduce -37.2%
YUM Yum! Brands Inc. 0.03% 3,219 $489K No change
TTWO Take-Two Interactive Softwre 0.03% 1,874 $484K No change
WDC Western Digital Corp. 0.03% 3,936 $473K No change
RMD Resmed Inc. 0.03% 1,694 $464K No change
HIG Hartford Insurance Group Inc. 0.03% 3,364 $449K No change
CAH Cardinal Health Inc. 0.03% 2,803 $440K No change
GRMN Garmin Ltd. 0.03% 1,774 $437K No change
PRU Prudential Financial Inc. 0.03% 4,118 $427K No change
A Agilent Technologies Inc. 0.03% 3,321 $426K No change
FICO Fair Isaac Corp. 0.03% 282 $422K No change
NDAQ Nasdaq Inc. 0.03% 4,697 $415K No change
FIS Fidelity National Info Serv 0.03% 6,264 $413K No change
WTW Willis Towers Watson PLC 0.03% 1,166 $403K No change
GEHC GE Healthcare Technology 0.03% 5,347 $402K Reduce -0.5%
MCHP Microchip Technology Inc. 0.03% 6,219 $399K No change
STT State Street Corp. 0.03% 3,431 $398K No change
ACGL Arch Capital Group Ltd. 0.03% 4,308 $391K No change
CTSH Cognizant Tech Solutions-A 0.03% 5,725 $384K No change
IQV Iqvia Holdings Inc. 0.03% 2,002 $380K No change
MTB M & T Bank Corp. filed as M & T BK CORP 0.03% 1,920 $379K No change
HPE Hewlett Packard Enterprise 0.03% 14,951 $367K No change
RJF Raymond James Financial Inc. 0.03% 2,119 $366K No change
HUM Humana Inc. 0.02% 1,393 $362K No change
TSCO Tractor Supply Company 0.02% 6,194 $352K No change
KEYS Keysight Technologies Inc. 0.02% 2,012 $352K No change
LEN Lennar Corp. Class A 0.02% 2,767 $349K No change
FITB Fifth Third Bancorp 0.02% 7,790 $347K No change
CCL Carnival Corp. 0.02% 11,928 $345K No change
SYF Synchrony Financial 0.02% 4,536 $322K No change
TDY Teledyne Technologies Inc. 0.02% 538 $315K No change
PHM Pultegroup Inc. 0.02% 2,382 $315K No change
NTRS Northern Trust Corp. 0.02% 2,308 $311K No change
CHTR Charter Communications Inc. Class A 0.02% 1,121 $308K No change
EXPE Expedia Group Inc. 0.02% 1,441 $308K No change
TPR Tapestry Inc. 0.02% 2,702 $306K No change
DXCM Dexcom Inc. 0.02% 4,496 $303K No change
MTD Mettler-Toledo International 0.02% 246 $302K No change
ULTA Ulta Beauty Inc. 0.02% 550 $301K No change
HPQ HP Inc. 0.02% 10,916 $297K No change
CBOE Cboe Global Markets Inc. 0.02% 1,207 $296K No change
LYV Live Nation Entertainment Inc. 0.02% 1,785 $292K No change
HBAN Huntington Bancshares Inc. 0.02% 16,778 $290K No change
CINF Cincinnati Financial Corp. 0.02% 1,804 $285K No change
JBL Jabil Inc. 0.02% 1,312 $285K No change
STE Steris PLC 0.02% 1,139 $282K No change
NVR NVR Inc. 0.02% 35 $281K No change
NTAP Netapp Inc. 0.02% 2,371 $281K No change
LH Labcorp Holdings Inc. 0.02% 975 $280K No change
RF Regions Financial Corp. 0.02% 10,576 $279K No change
SMCI Super Micro Computer Inc. 0.02% 5,768 $277K No change
PTC PTC Inc. 0.02% 1,356 $275K No change
WSM Williams-Sonoma Inc. 0.02% 1,405 $275K No change
CFG Citizens Financial Group 0.02% 5,138 $273K No change
FSLR First Solar Inc. 0.02% 1,222 $269K No change
VRSN Verisign Inc. 0.02% 960 $268K No change
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.02% 3,478 $266K No change
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.02% 2,568 $264K No change
DRI Darden Restaurants Inc. 0.02% 1,361 $259K No change
FOXA Fox Corp. Class A 0.02% 4,066 $256K No change
TYL Tyler Technologies Inc. 0.02% 490 $256K No change
TER Teradyne Inc. 0.02% 1,862 $256K New
BRO Brown & Brown Inc. 0.02% 2,729 $256K No change
PODD Insulet Corp. 0.02% 809 $250K No change
CDW CDW Corp. 0.02% 1,541 $245K No change
GPN Global Payments Inc. 0.02% 2,941 $244K No change
DGX Quest Diagnostics Inc. 0.02% 1,282 $244K No change
ON On Semiconductor 0.02% 4,928 $243K No change
APTV Aptiv PLC 0.02% 2,745 $237K New
BIIB Biogen Inc. 0.02% 1,675 $235K No change
IT Gartner Inc. 0.02% 890 $234K No change
CPAY Corpay Inc. 0.02% 808 $233K No change
LULU Lululemon Athletica Inc. 0.02% 1,305 $232K No change
TRMB Trimble Inc. 0.02% 2,824 $231K No change
ZBH Zimmer Biomet Holdings Inc. 0.02% 2,316 $228K No change
GPC Genuine Parts Co. 0.02% 1,614 $224K New
GDDY GoDaddy Inc. Class A 0.02% 1,620 $222K No change
WST West Pharmaceutical Services 0.02% 838 $220K New
FFIV F5 Inc. 0.01% 674 $218K New
LVS Las Vegas Sands Corp. 0.01% 3,978 $214K New
KEY Keycorp 0.01% 11,434 $214K No change
L Loews Corp. 0.01% 2,115 $212K New
CNC Centene Corp. 0.01% 5,863 $209K No change
WAT Waters Corp. 0.01% 687 $206K No change
PFG Principal Financial Group 0.01% 2,444 $203K New
VTRS Viatris Inc. 0.01% 13,826 $137K No change

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