Trust Asset Management LLC

Registered adviser

CIK

1608376

Location

HOUSTON, TX

Portfolio Value

Mid $1,593,562,146

Diversification

Highly concentrated

Filing Date

Global Rank

#1,869 / 8,835 ▼ 12 · as of Jun 2026

Top Industry

Semiconductors 21.4%

3Y Alpha vs SPY

-0.3%

Period ended 46 days ago

Filed Nov 3, 2026 · 12d

27 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Nov 1, 2026

Form ADV adviser

CRD 147379

Roster of Nov 1, 2026

Regulatory AUM

$3,205,831,994

Main clients

Pooled investment vehicles (56% of AUM)

Private funds

5 funds · Hedge funds

Focus by fund count, roster of Nov 1, 2026

$1,790,908,882 gross assets

Private funds on Schedule D 7.B.(1)

As filed Mar 29, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$1,323,206,141 gross assets in 4 funds Hedge funds $1,323,206,141 (4)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Mar 2026 to Nov 2026	$3,205,831,994	Pooled investment vehicles (56%)
Apr 2025 to Feb 2026	$2,764,316,173	Pooled investment vehicles (57%)
Apr 2024 to Mar 2025	$2,413,220,842	Pooled investment vehicles (55%)
May 2023 to Mar 2024	$2,149,142,541	Pooled investment vehicles (52%)
Apr 2023	$2,149,142,541	Pooled investment vehicles (52%)
Apr 2022 to Mar 2023	$2,087,743,338	Pooled investment vehicles (52%)

4 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, the newest measured quarter, never from the firm's own description.

Style

Concentrated

The top 10 positions are 80.3% of the book (60%+)

Turnover

Low turnover

1.0% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 25.0 quarters (12+), a floor since 75.5% of the book was already held when coverage starts

Closest benchmark: every 13F filer's combined book, active share 65.0%; sector active share 53.2% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+. Stocks and the top 10 weight count issuers: share classes of one company are one stock, and options are left out, so they can differ from the position count and top 10 concentration of GetInstitutionSummary and GetInstitutionPortfolio, which count each listed share class.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

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Portfolio Concentration

233 common stock positions · as of Sep 30, 2026 · Δ vs Jun 30, 2026

Top Position

57.4%

+1.5 pts

Top 5

74.0%

+1.9 pts

Top 10

81.3%

+1.0 pts

HHI

3,389

Highly concentrated+163

Portfolio Trend

27 quarters · across all stocks

Sector Breakdown

Common stock positions · as of Sep 30, 2026

Sector	% Portfolio	Value	Positions
Unclassified	64.2%	$1,022,586,218	8
Technology	18.1%	$289,174,003	67
Financial Services	5.2%	$82,730,380	62
Communication Services	4.5%	$71,583,598	15
Healthcare	4.2%	$66,551,482	48
Consumer Cyclical	3.8%	$60,716,937	32
Industrials	0.0%	$219,528	1

Last Quarter's Activity

Export CSV

Sep 30, 2026 vs Jun 30, 2026

Added To

Positions the filer increased

No qualifying positions this quarter.

Trimmed

Positions the filer reduced

20 positions

Ticker	Company	Δ Shares	Shares	Value
SPY	Spdr S&P 500 ETF Trust	−4,988	1,199,086	$914,458,956
XLE	State Street(R) Energy Select Sector SPDR(R) ETF	−351	403,884	$24,838,866
BAC	Bank Of America Corp	−229	73,071	$3,977,254
—		−225	399,685	$0
AAPL	Apple Inc.	−127	163,017	$54,287,921
CRM	Salesforce, Inc.	−102	10,288	$2,361,816
C	Citigroup Inc	−98	23,930	$3,098,456
WFC	Wells Fargo & Company	−88	36,974	$2,959,768
SCHW	Schwab Charles Corp	−59	18,318	$1,790,401
META	Meta Platforms, Inc.	−54	24,225	$17,567,485
V	Visa Inc.	−38	18,722	$6,727,376
AMZN	Amazon Com Inc	−34	107,529	$26,790,850
LRCX	Lam Research Corp	−23	13,996	$4,597,825
MA	Mastercard Inc	−20	9,077	$5,005,693
TSLA	Tesla, Inc.	−18	31,089	$11,030,688
MSFT	Microsoft Corp	−17	82,153	$42,136,273
BRK-B	Berkshire Hathaway Inc	−14	20,330	$10,123,323
AMAT	Applied Materials Inc	−11	8,869	$4,535,429
LLY	ELI LILLY & Co	−8	8,744	$10,117,507
GS	Goldman Sachs Group Inc	−6	3,318	$2,987,394
No positions match the current search.

New Positions

Positions the filer opened this quarter

8 positions

Ticker	Company	Shares	Value
MRVL	Marvell Technology, Inc.	9,717	$2,567,328
P	Everpure, Inc.	3,627	$474,339
VEEV	Veeva Systems Inc	1,656	$472,705
ILMN	Illumina, Inc.	1,718	$470,182
FLEX	Flex Ltd.	4,107	$451,728
FOXA	Fox Corp	3,774	$236,441
RDDT	Reddit, Inc.	1,587	$226,052
ZBRA	Zebra Technologies Corp	550	$205,320
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
—		2,550	$522,852
FICO	Fair Isaac Corp	264	$315,421
FIS	Fidelity National Information Services, Inc.	5,872	$228,303
NVR	Nvr Inc	31	$211,215
CDW	CDW Corp	1,480	$208,147
BRO	Brown & Brown, Inc.	3,191	$204,702
ZBH	Zimmer Biomet Holdings, Inc.	2,220	$191,119
BBY	Best Buy Co Inc	2,174	$164,963
DECK	Deckers Outdoor Corp	1,601	$158,963
ECHO	EchoStar CORP	1,482	$150,423
APTV	Aptiv PLC	2,443	$149,951
TRMB	Trimble Inc.	2,711	$138,748
CHTR	Charter Communications, Inc.	974	$138,512
LULU	lululemon athletica inc.	1,194	$136,330
CRL	Charles River Laboratories International, Inc.	567	$128,589
GDDY	GoDaddy Inc.	1,498	$127,150
ALGN	Align Technology Inc	748	$126,157
TECH	BIO-TECHNE Corp	1,763	$124,555
BAX	Baxter International Inc	5,677	$121,033
SWKS	Skyworks Solutions, Inc.	1,766	$119,734
PODD	Insulet Corp	779	$118,602
TTD	Trade Desk, Inc.	4,859	$87,850
EPAM	EPAM Systems, Inc.	631	$50,069
LUMN	Lumen Technologies, Inc.	4,431	$34,030
XRX	Xerox Holdings Corp	5,152	$16,125
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

233 tracked positions · $1,593,562,146 total · filing declares 233 positions · $1,638,351,545 · as of Sep 30, 2026

All sectors Communication Services Consumer Cyclical Financial Services Healthcare Industrials Technology

Showing 1–50 of 233 positions by value · page 1 of 5

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
SPY	Spdr S&P 500 ETF Trust	Reduced	1,199,086	-4,988	$914,458,956	+1.7%	57.38%
NVDA	Nvidia Corp Technology	Held	267,768	0	$61,152,855	+14.1%	3.84%
XLI	State Street(R) Industrial Select Sector SPDR(R) ETF	Held	344,214	0	$57,476,853	−9.9%	3.61%
AAPL	Apple Inc. Technology	Reduced	163,017	-127	$54,287,921	+15.0%	3.41%
MSFT	Microsoft Corp Technology	Reduced	82,153	-17	$42,136,273	+37.5%	2.64%
GOOG	Alphabet Inc. Communication Services	Held	116,761	0	$39,785,143	−3.6%	2.50%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	107,529	-34	$26,790,850	+4.5%	1.68%
XLE	State Street(R) Energy Select Sector SPDR(R) ETF	Reduced	403,884	-351	$24,838,866	+15.7%	1.56%
AVGO	Broadcom Inc. Technology	Held	52,549	0	$18,454,683	−7.0%	1.16%
META	Meta Platforms, Inc. Communication Services	Reduced	24,225	-54	$17,567,485	+28.5%	1.10%
XLU	State Street(R) Utilities Select Sector SPDR(R) ETF	Held	342,678	0	$13,515,220	−13.0%	0.85%
MU	Micron Technology Inc Technology	Held	12,444	0	$13,254,228	−7.7%	0.83%
XLRE	State Street(R) Real Estate Select Sector SPDR(R) ETF	Held	293,871	0	$12,022,262	−7.1%	0.75%
AMD	Advanced Micro Devices Inc Technology	Held	18,217	0	$11,144,431	+5.3%	0.70%
TSLA	Tesla, Inc. Consumer Cyclical	Reduced	31,089	-18	$11,030,688	−15.7%	0.69%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	20,330	-14	$10,123,323	−0.6%	0.64%
LLY	ELI LILLY & Co Healthcare	Reduced	8,744	-8	$10,117,507	−3.6%	0.63%
JPM	Jpmorgan Chase & Co Financial Services	Held	29,854	0	$9,876,598	+1.1%	0.62%
JNJ	Johnson & Johnson Healthcare	Held	26,761	0	$7,084,707	+4.2%	0.44%
V	Visa Inc. Financial Services	Reduced	18,722	-38	$6,727,376	+4.5%	0.42%
INTC	Intel Corp Technology	Held	51,805	0	$6,228,515	−13.9%	0.39%
ABBV	AbbVie Inc. Healthcare	Held	19,589	0	$5,124,286	+4.0%	0.32%
MA	Mastercard Inc Financial Services	Reduced	9,077	-20	$5,005,693	+7.1%	0.31%
CSCO	Cisco Systems, Inc. Technology	Held	43,517	0	$4,683,734	−8.4%	0.29%
PLTR	Palantir Technologies Inc. Technology	Held	25,000	0	$4,676,250	+60.3%	0.29%
LRCX	Lam Research Corp Technology	Reduced	13,996	-23	$4,597,825	−24.3%	0.29%
AMAT	Applied Materials Inc Technology	Reduced	8,869	-11	$4,535,429	−29.4%	0.28%
MRK	Merck & Co., Inc. Healthcare	Held	27,624	0	$4,014,043	+13.1%	0.25%
BAC	Bank Of America Corp Financial Services	Reduced	73,071	-229	$3,977,254	−4.8%	0.25%
UNH	Unitedhealth Group Inc Healthcare	Held	10,010	0	$3,674,470	−11.7%	0.23%
PANW	Palo Alto Networks Inc Technology	Held	8,639	0	$3,432,361	+16.5%	0.22%
NFLX	Netflix Inc Communication Services	Held	47,324	0	$3,292,803	−2.5%	0.21%
HD	Home Depot, Inc. Consumer Cyclical	Held	10,980	0	$3,123,700	−19.3%	0.20%
C	Citigroup Inc Financial Services	Reduced	23,930	-98	$3,098,456	−7.9%	0.19%
GS	Goldman Sachs Group Inc Financial Services	Reduced	3,318	-6	$2,987,394	−11.1%	0.19%
WFC	Wells Fargo & Company Financial Services	Reduced	36,974	-88	$2,959,768	−3.4%	0.19%
CRWD	CrowdStrike Holdings, Inc. Technology	Held	11,016	0	$2,916,486	+38.8%	0.18%
KLAC	Kla Corp Technology	Held	14,580	0	$2,842,079	−35.4%	0.18%
TMO	Thermo Fisher Scientific Inc. Healthcare	Held	4,175	0	$2,818,333	+34.6%	0.18%
TXN	Texas Instruments Inc Technology	Held	10,048	0	$2,814,344	−6.0%	0.18%
SNDK	Sandisk Corp Technology	Held	1,611	0	$2,802,962	−23.5%	0.18%
MRVL	Marvell Technology, Inc. Technology	NEW	9,717	NEW	$2,567,328	NEW	0.16%
ORCL	Oracle Corp Technology	Held	18,516	0	$2,542,246	−6.3%	0.16%
AMGN	Amgen Inc Healthcare	Held	5,964	0	$2,513,885	+16.4%	0.16%
MS	Morgan Stanley Financial Services	Held	13,358	0	$2,512,372	−10.0%	0.16%
CRM	Salesforce, Inc. Technology	Reduced	10,288	-102	$2,361,816	+45.1%	0.15%
ANET	Arista Networks, Inc. Technology	Held	11,383	0	$2,317,464	+19.8%	0.15%
IBM	International Business Machines Corp Technology	Held	10,363	0	$2,279,134	−21.8%	0.14%
APH	Amphenol Corp Technology	Held	26,972	0	$2,273,739	−4.4%	0.14%
QCOM	Qualcomm Inc Technology	Held	11,867	0	$2,184,002	−0.4%	0.14%

Showing the top 50 of 233 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.