Chevy Chase Trust Holdings' Portfolio Shifts in Q3 2026: Focus on Tech Buys and Energy Sells
Chevy Chase Trust Holdings reported significant changes to its portfolio as of June 30, 2026. The investor maintained a heavy weighting in top tech stocks while adding new positions like KLAC and MRVL.
As of June 30, 2026, Chevy Chase Trust Holdings, Llc's portfolio has seen notable shifts in stock holdings. The total value of the fund's portfolio stands at approximately $38.6 billion.
Key Technology Investments Remain Dominant
The investor continues to favor technology stocks, with NVIDIA (NVDA) and Alphabet Inc.'s Google unit (GOOG/GOOGL) maintaining their positions as top holdings by market weight despite slight reductions in shares. The portfolio allocates about 34.68% to Technology overall.
Significant Purchases This Quarter
Chevy Chase Trust Holdings demonstrated substantial buying activity during the quarter, particularly favoring certain technology and consumer cyclical stocks:
- KLAC (KLA Corporation): The investor acquired a significant position in this chip equipment maker, adding 568,218 shares and boosting its portfolio allocation to 0.49%. This represents an enormous increase of over 877%.
- MRVL (Marvell Technology): Another major addition was Marvell Technology, with the fund acquiring all shares held at quarter-end (422,775). This resulted in a portfolio allocation of 0.32%.
- BKNG (Booking Holdings): The investor increased its stake in this travel company by 360,482 shares, raising the allocation to 0.17%. This was a substantial jump.
- DVN (Devon Energy): A notable purchase in energy stocks occurred with Devon Energy, adding 251,424 shares and increasing the allocation to 0.06%.
- FLEX (Flex Ltd): The investor also bought a position in this diversified industrial company, adding all 177,611 shares held at quarter-end to the portfolio.
Strategic Reductions and Sells
The fund simultaneously reduced positions across several sectors:
- NVDA (NVIDIA): Shares decreased by 317,913 (-2.14%), maintaining its portfolio allocation at 7.52%.
- AAPL (Apple): The tech giant saw a reduction of 122,569 shares (-1.36%), keeping its allocation steady at 6.61%.
- MSFT (Microsoft): Shares fell by 94,367 (-2.15%), maintaining the same portfolio percentage of 4.13%.
- AMZN (Amazon): Consumer cyclical holdings decreased by 80,793 shares (-1.36%), keeping the allocation unchanged at 3.61%.
- SPMD (S&P 500 Equal Weight Consumer Staples ETF): While not a direct stock, this significant sell (-243%) suggests the fund is rebalancing away from broad consumer staples exposure.
Energy Sector Activity Highlights
In the energy sector, the investor showed mixed activity:
- XOM (Exxon Mobil): Holdings decreased slightly by 169,000 shares (-7.79%), maintaining a portfolio allocation of 0.71%.
- SLB (Schlumberger): The investor significantly increased its stake in this oil services company by 317,595 shares (+11.86%), raising the allocation to 0.36%.
- DVN (Devon Energy): As mentioned earlier, Devon Energy was also bought.
Financial Services and Other Sectors
The fund added new positions in financial services through ITUB (Itau Unibanco Holdings), which increased its allocation from 0.03% to a higher percentage following the purchase of all shares held at quarter-end.
Conversely, in sectors like Industrials and Consumer Defensive, the investor saw significant reductions:
- KTOS (Kraton Industries): Holdings dropped by 59.15%, exiting this position entirely.
The fund's overall allocation to Financial Services increased slightly, while Technology remains the dominant sector in its portfolio.