Chapman Investment Management, LLC — 13F Filing Insights

CIK: 0001751006

Momentum followerQuality / disciplined sizingLong-term holder

Total reported value

$121.2M

Reporting period: 2026-03-31 · Number of holdings: 26

Chapman Investment Management, LLC disclosed 26 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $121.2M and a quarterly turnover rate of 18.1%.

Browse other institutions with $100M to $1B AUM Browse other institutions starting with "C"

Personality snowflake

Concentration: 26.5
Portfolio Stability: 18.06
Momentum/Contrarian: 100
Sector conviction: 65.29
Diversification: 52
Sizing Uniformity: 91.33

Chapman Investment Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.066 — mathematically equivalent to about 15 equally-sized positions, well below its 26 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.

Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.87), suggesting a disciplined, rules-based approach to how much capital goes into each idea.

Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 3.8 percentage-point tilt) — a pattern consistent with a momentum-following approach.

Recent moves

Add COST
-0.3%　$1.9M
Trim MSFT
+0.6%　-$3.3M
Add AAPL
+14.7%　$511.1K
Add WM
+0.8%　$334.7K
Trim AXP
+0.6%　-$1.4M
Trim DIS
-34.3%　-$667.6K

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	COST	Costco Wholesale CORP	Stock-Consumer Staples	11.90%	+2.73%	-0.34%
2	MSFT	Microsoft CORP	Stock-Tech	9.17%	-1.39%	+0.59%
3	MA	Mastercard INC - A	Stock-Financials	8.58%	-0.14%	-0.37%
4	AMZN	Amazon.com INC	Stock-Consumer Disc	8.21%	+0.09%	-0.66%
5	MKL	Markel Group INC	Stock-Financials	7.52%	—	-0.50%
6	V	Visa Inc-class A Shares	Stock-Financials	7.17%	-0.24%	-0.44%
7	AAPL	Apple INC	Stock-Tech	6.35%	+1.09%	+14.74%
8	MELI	Mercadolibre INC	Stock-Consumer Disc	5.68%	-0.22%	-0.57%
9	AXP	American Express Co	Stock-Financials	5.38%	-0.42%	+0.64%
10	WM	Waste Management INC	Stock-Industrials	5.36%	+0.85%	+0.81%
11	CTAS	Cintas CORP	Stock-Industrials	3.89%	+0.10%	+1.35%
12	SPGI	S&p Global INC	Stock-Financials	3.20%	+0.14%	+14.02%
13	LLY	Eli Lilly & Co	Stock-Healthcare	2.62%	-0.12%	-0.97%
14	ACN	Accenture plc	Stock-Tech	2.49%	-0.33%	+6.04%
15	EXPD	Expeditors Intl Wash INC	Stock-Industrials	2.35%	+0.16%	-1.13%
16	JPM	Jpmorgan Chase & Co	Stock-Financials	2.31%	+0.07%	—
17	UBER	Uber Technologies INC	Stock-Industrials	1.60%	-0.39%	-18.85%
18	ISRG	Intuitive Surgical INC	Stock-Healthcare	1.42%	-0.05%	+5.56%
19	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	1.05%	+0.07%	—
20	CRM	Salesforce INC	Stock-Tech	0.81%	+0.81%	NEW
21	DIS	Walt Disney Co/the	Stock-Comm Services	0.69%	-0.41%	-34.29%
22	SBUX	Starbucks CORP	Stock-Consumer Disc	0.64%	+0.11%	—
23	ORLY	O'reilly Automotive INC	Stock-Consumer Disc	0.60%	+0.07%	—
24	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	0.43%	+0.03%	—
25	CVX	Chevron CORP	Stock-Energy	0.29%	+0.10%	—
26	WTM	White Mountains Insurance Group, Ltd.	Stock-Financials	0.26%	+0.04%	—

Portfolio Performance

Performance for Q3 2026

+4.3%

Performance Last 4 Quarters

+2.7%

Based on 87% of reported portfolio value with available pricing

Stdev: +13.3%
Beta: +0.78
Alpha: -1.8%
Max Drawdown: -8.4%
Annualized Perf: +12.5%
Batting Avg vs S&P: +50%
Sortino: +1.8
Stutzer: +0.28
Treynor: +0.16
Sterling: +0.74
Calmar: +1.49
Information Ratio: -0.65
Tracking Error: +8.9%
Stdev Down: +7%
Winning Months %: +63.9%
Losing Months %: +36.1%
Best 12 Months: +34.9%
Worst 12 Months: -5.1%
Efficiency Ratio: +0.38
Sharpe: +0.96
Stdev Sectors: +10.8%
Skewness: +0.15
Kurtosis: -0.42
Upside Potential: +3.52

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	26	$121.2M	18	1COST 2MSFT 3MA Top holdings2026-03-31 1.COST 2.MSFT 3.MA 4.AMZN 5.MKL 6.V 7.AAPL 8.MELI 9.AXP 10.WM
2025-12-31	27	$136.7M	12	1MSFT 2COST 3MA Top holdings2025-12-31 1.MSFT 2.COST 3.MA 4.AMZN 5.MKL 6.V 7.MELI 8.AXP 9.AAPL 10.WM
2025-09-30	29	$140.6M	25	1MSFT 2COST 3MA Top holdings2025-09-30 1.MSFT 2.COST 3.MA 4.AMZN 5.V 6.MELI 7.MKL 8.META 9.AXP 10.AAPL
2025-06-30	29	$143.3M	0	1COST 2MSFT 3MA Top holdings2025-06-30 1.COST 2.MSFT 3.MA 4.MELI 5.AMZN 6.V 7.MKL 8.AAPL 9.AXP 10.WM
2025-03-31	28	$133.9M	100	1COST 2MA 3MSFT Top holdings2025-03-31 1.COST 2.MA 3.MSFT 4.V 5.AMZN 6.MKL 7.AAPL 8.MELI 9.GEHC 10.AXP
2024-12-31	29	$134.4M	0	1COST 2MSFT 3MA Top holdings2024-12-31 1.COST 2.MSFT 3.MA 4.AMZN 5.AAPL 6.V 7.MKL 8.MELI 9.GEHC 10.AXP
2024-09-30	31	$136.9M	0	1COST 2MSFT 3MA Top holdings2024-09-30 1.COST 2.MSFT 3.MA 4.AAPL 5.AMZN 6.MELI 7.GEHC 8.V 9.MKL 10.AXP
2024-06-30	32	$131.5M	0	1MSFT 2COST 3MA Top holdings2024-06-30 1.MSFT 2.COST 3.MA 4.AMZN 5.AAPL 6.MKL 7.V 8.MELI 9.GEHC 10.ACN
2024-03-31	32	$135.7M	0	1MSFT 2COST 3MA Top holdings2024-03-31 1.MSFT 2.COST 3.MA 4.AMZN 5.V 6.GEHC 7.MKL 8.AAPL 9.MELI 10.ACN
2023-12-31	36	$131.3M	0	1MSFT 2COST 3MA Top holdings2023-12-31 1.MSFT 2.COST 3.MA 4.AAPL 5.AMZN 6.V 7.MKL 8.GEHC 9.MELI 10.ACN
2023-09-30	34	$118.1M	0	1MSFT 2COST 3MA Top holdings2023-09-30 1.MSFT 2.COST 3.MA 4.AAPL 5.MKL 6.V 7.AMZN 8.ACN 9.GEHC 10.MELI
2023-06-30	36	$126.2M	0	1MSFT 2AAPL 3MA Top holdings2023-06-30 1.MSFT 2.AAPL 3.MA 4.COST 5.V 6.GEHC 7.ACN 8.AMZN 9.MKL 10.MELI
2023-03-31	36	$121.5M	0	1MSFT 2MA 3COST Top holdings2023-03-31 1.MSFT 2.MA 3.COST 4.AAPL 5.XOM 6.V 7.GEHC 8.SPYX 9.ACN 10.MELI
2022-12-31	37	$109.6M	0	1MA 2MSFT 3COST Top holdings2022-12-31 1.MA 2.MSFT 3.COST 4.XOM 5.V 6.SCHW 7.AAPL 8.ACN 9.AMZN 10.WM
2022-09-30	39	$136.7M	0	1COST 2MSFT 3AMZN Top holdings2022-09-30 1.COST 2.MSFT 3.AMZN 4.AAPL 5.MA 6.GOOGL 7.V 8.ACN 9.SCHW 10.XOM
2022-06-30	43	$144.7M	0	1MSFT 2COST 3AMZN Top holdings2022-06-30 1.MSFT 2.COST 3.AMZN 4.AAPL 5.GOOGL 6.V 7.MA 8.ACN 9.XOM 10.SCHW
2022-03-31	43	$187.9M	0	1MSFT 2AMZN 3COST Top holdings2022-03-31 1.MSFT 2.AMZN 3.COST 4.AAPL 5.GOOGL 6.V 7.MA 8.ACN 9.SCHW 10.DIS
2021-12-31	51	$218.7M	0	1MSFT 2AMZN 3AAPL Top holdings2021-12-31 1.MSFT 2.AMZN 3.AAPL 4.COST 5.GOOGL 6.ACN 7.V 8.MA 9.PYPL 10.DIS
2021-09-30	44	$192.7M	0	1AMZN 2MSFT 3PYPL Top holdings2021-09-30 1.AMZN 2.MSFT 3.PYPL 4.GOOGL 5.COST 6.V 7.AAPL 8.MA 9.ACN 10.MELI
2021-06-30	40	$180.3M	100	1AMZN 2PYPL 3MSFT Top holdings2021-06-30 1.AMZN 2.PYPL 3.MSFT 4.GOOGL 5.V 6.COST 7.MA 8.XYZ 9.ACN 10.AAPL
2021-03-31	40	$158.6M	15	1AMZN 2PYPL 3MSFT Top holdings2021-03-31 1.AMZN 2.PYPL 3.MSFT 4.V 5.GOOGL 6.COST 7.MA 8.XYZ 9.DIS 10.ACN
2020-12-31	36	$153.8M	19	1AMZN 2PYPL 3MSFT Top holdings2020-12-31 1.AMZN 2.PYPL 3.MSFT 4.V 5.COST 6.MA 7.MELI 8.GOOGL 9.DIS 10.AAPL
2020-09-30	38	$135.3M	19	1AMZN 2MSFT 3PYPL Top holdings2020-09-30 1.AMZN 2.MSFT 3.PYPL 4.V 5.COST 6.MA 7.AAPL 8.GOOGL 9.FIS 10.ACN
2020-06-30	40	$122.2M	41	1AMZN 2MSFT 3PYPL Top holdings2020-06-30 1.AMZN 2.MSFT 3.PYPL 4.V 5.COST 6.MA 7.GOOGL 8.ECL 9.ACN 10.FIS
2020-03-31	39	$93.4M	32	1AMZN 2MSFT 3V Top holdings2020-03-31 1.AMZN 2.MSFT 3.V 4.COST 5.MA 6.PYPL 7.GOOGL 8.FIS 9.EXPD 10.ECL
2019-12-31	37	$109.5M	—	1AMZN 2V 3MSFT Top holdings2019-12-31 1.AMZN 2.V 3.MSFT 4.COST 5.MA 6.BAC 7.DIS 8.AL 9.EXPD 10.PYPL

Holding changes this quarter

Chapman Investment Management, LLC's most significant position changes for 2026-03-31: Sold out: Meta Platforms Inc-class A (META); New buy: Salesforce INC (CRM); Sold out: Bank Of America CORP (BAC); Trim: Costco Wholesale CORP (COST) — shares -0.34%; Add: Microsoft CORP (MSFT) — shares +0.59%.

Position changes disclosed by Chapman Investment Management, LLC for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	COST	Costco Wholesale CORP	+2.7%	-0.34%	Trim
2	AAPL	Apple INC	+1.1%	+14.74%	Add
3	WM	Waste Management INC	+0.9%	+0.81%	Add
4	EXPD	Expeditors Intl Wash INC	+0.2%	-1.13%	Trim
5	SPGI	S&p Global INC	+0.1%	+14.02%	Add
6	SBUX	Starbucks CORP	+0.1%	—	Unchanged
7	CTAS	Cintas CORP	+0.1%	+1.35%	Add
8	CVX	Chevron CORP	+0.1%	—	Unchanged
9	AMZN	Amazon.com INC	+0.1%	-0.66%	Trim
10	JPM	Jpmorgan Chase & Co	+0.1%	—	Unchanged
11	SPY	Ss Spdr S&p 500 ETF Trust-us	+0.1%	—	Unchanged
12	ORLY	O'reilly Automotive INC	+0.1%	—	Unchanged
13	WTM	White Mountains Insurance Group, Ltd.	0%	—	Unchanged
14	BRK-B	Berkshire Hathaway Inc-cl B	0%	—	Unchanged
15	MKL	Markel Group INC	—	-0.50%	Trim
16	ISRG	Intuitive Surgical INC	-0.1%	+5.56%	Add
17	LLY	Eli Lilly & Co	-0.1%	-0.97%	Trim
18	MA	Mastercard INC - A	-0.1%	-0.37%	Trim
19	MELI	Mercadolibre INC	-0.2%	-0.57%	Trim
20	V	Visa Inc-class A Shares	-0.2%	-0.44%	Trim
21	ACN	Accenture plc	-0.3%	+6.04%	Add
22	UBER	Uber Technologies INC	-0.4%	-18.85%	Trim
23	DIS	Walt Disney Co/the	-0.4%	-34.29%	Trim
24	AXP	American Express Co	-0.4%	+0.64%	Add
25	MSFT	Microsoft CORP	-1.4%	+0.59%	Add
26	META	Meta Platforms Inc-class A	—	EXIT	Sold out
27	CRM	Salesforce INC	—	NEW	New buy
28	BAC	Bank Of America CORP	—	EXIT	Sold out

Filing History

Period	Filed	Type	EDGAR
2026-03-31	2026-05-04	13F-HR	View on EDGAR
2025-12-31	2026-02-04	13F-HR	View on EDGAR
2025-09-30	2025-11-05	13F-HR	View on EDGAR
2025-06-30	2025-08-05	13F-HR	View on EDGAR
2025-03-31	2025-05-01	13F-HR	View on EDGAR
2024-12-31	2025-01-31	13F-HR	View on EDGAR
2024-09-30	2024-10-28	13F-HR	View on EDGAR
2024-06-30	2024-08-07	13F-HR	View on EDGAR
2024-03-31	2024-05-03	13F-HR	View on EDGAR
2023-12-31	2024-02-02	13F-HR	View on EDGAR
2023-09-30	2023-11-01	13F-HR	View on EDGAR
2023-06-30	2023-08-01	13F-HR	View on EDGAR
2023-03-31	2023-04-25	13F-HR	View on EDGAR
2022-12-31	2023-02-07	13F-HR	View on EDGAR
2022-09-30	2022-11-01	13F-HR	View on EDGAR
2022-06-30	2022-08-01	13F-HR	View on EDGAR
2022-03-31	2022-05-09	13F-HR	View on EDGAR
2021-12-31	2022-01-20	13F-HR	View on EDGAR
2021-09-30	2021-11-15	13F-HR	View on EDGAR
2021-06-30	2021-08-03	13F-HR	View on EDGAR
2021-03-31	2021-04-26	13F-HR	View on EDGAR
2020-12-31	2021-01-26	13F-HR	View on EDGAR
2020-09-30	2020-10-14	13F-HR	View on EDGAR
2020-06-30	2020-07-15	13F-HR	View on EDGAR
2020-03-31	2020-04-10	13F-HR	View on EDGAR
2019-12-31	2020-01-23	13F-HR	View on EDGAR

FAQ

What is Chapman Investment Management, LLC and what type of investor is it?

Chapman Investment Management, LLC is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $121.2M, spread across 26 disclosed positions.

What are Chapman Investment Management, LLC's largest equity positions?

Based on the latest 13F filing, Chapman Investment Management, LLC's top holdings by market value are: 1. Costco Wholesale CORP (COST) — $14.4M (11.9%) 2. Microsoft CORP (MSFT) — $11.1M (9.2%) 3. Mastercard INC - A (MA) — $10.4M (8.6%) 4. Amazon.com INC (AMZN) — $10.0M (8.2%) 5. Markel Group INC (MKL) — $9.1M (7.5%)

What changes did Chapman Investment Management, LLC make in its most recent portfolio filing?

In the latest reported quarter, Chapman Investment Management, LLC made 21 notable position adjustments: 1 new positions were initiated, 8 existing holdings were added to, 10 positions were partially reduced, and 2 were completely exited. The largest of these moves: Sold out: Meta Platforms Inc-class A (META); New buy: Salesforce INC (CRM); Sold out: Bank Of America CORP (BAC); Trim: Costco Wholesale CORP (COST) — shares -0.34%; Add: Microsoft CORP (MSFT) — shares +0.59%

What sectors does Chapman Investment Management, LLC focus on?

Chapman Investment Management, LLC is concentrated in the following sectors based on its current disclosed equity portfolio: • Financials: 35.2% • Information Technology: 19.0% • Consumer Discretionary: 15.3% • Industrials: 13.3% • Consumer Staples: 12.0% • Health Care: 4.1%

Peer Institutions

Institutions with a similar AUM

Frisco Financial Planning LLC

CIK 0002133972

Total reported value

$121.2M

29 stks

2026-03-31

Concentration33.2

Portfolio Stability10.8

Sector conviction100.0

AUM within 0.0% of this institution

View detail

Connective Capital Management, LLC

CIK 0001543568

Total reported value

$121.1M

66 stks

2026-03-31

Concentration23.8

Portfolio Stability100.0

Sector conviction100.0

AUM within 0.0% of this institution

View detail

Nan Fung Group Holdings Ltd

CIK 0001782539

Total reported value

$121.3M

24 stks

2026-03-31

Concentration53.1

Portfolio Stability35.0

Sector conviction100.0

AUM within 0.1% of this institution

View detail

Similar Holdings Style

Institutions with overlapping top holdings

Manning & Napier Advisors LLC

CIK 0000062039

Total reported value

$7.1B

616 stks

2026-03-31

Concentration7.2

Portfolio Stability35.9

Sector conviction64.7

3 of the top 5 holdings overlap, including Microsoft CORP

View detail

Richards, Merrill & Peterson, INC.

CIK 0000090108

Total reported value

$272.6M

283 stks

2026-03-31

Concentration6.4

Portfolio Stability14.8

Sector conviction53.2

3 of the top 5 holdings overlap, including Costco Wholesale CORP

View detail

Mount Vernon Associates INC /md/

CIK 0000799003

Total reported value

$141.5M

60 stks

2026-03-31

Concentration17.8

Portfolio Stability15.8

Sector conviction58.6

3 of the top 5 holdings overlap, including Costco Wholesale CORP

View detail

Chapman Investment Management, LLC — 13F Filing Insights

CIK: 0001751006

Momentum followerQuality / disciplined sizingLong-term holder

Total reported value

$121.2M

Reporting period: 2026-03-31 · Number of holdings: 26

Chapman Investment Management, LLC disclosed 26 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $121.2M and a quarterly turnover rate of 18.1%.

Browse other institutions with $100M to $1B AUM Browse other institutions starting with "C"

Personality snowflake

Concentration: 26.5
Portfolio Stability: 18.06
Momentum/Contrarian: 100
Sector conviction: 65.29
Diversification: 52
Sizing Uniformity: 91.33

Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.87), suggesting a disciplined, rules-based approach to how much capital goes into each idea.

Recent moves

Add COST
-0.3%　$1.9M
Trim MSFT
+0.6%　-$3.3M
Add AAPL
+14.7%　$511.1K
Add WM
+0.8%　$334.7K
Trim AXP
+0.6%　-$1.4M
Trim DIS
-34.3%　-$667.6K

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	COST	Costco Wholesale CORP	Stock-Consumer Staples	11.90%	+2.73%	-0.34%
2	MSFT	Microsoft CORP	Stock-Tech	9.17%	-1.39%	+0.59%
3	MA	Mastercard INC - A	Stock-Financials	8.58%	-0.14%	-0.37%
4	AMZN	Amazon.com INC	Stock-Consumer Disc	8.21%	+0.09%	-0.66%
5	MKL	Markel Group INC	Stock-Financials	7.52%	—	-0.50%
6	V	Visa Inc-class A Shares	Stock-Financials	7.17%	-0.24%	-0.44%
7	AAPL	Apple INC	Stock-Tech	6.35%	+1.09%	+14.74%
8	MELI	Mercadolibre INC	Stock-Consumer Disc	5.68%	-0.22%	-0.57%
9	AXP	American Express Co	Stock-Financials	5.38%	-0.42%	+0.64%
10	WM	Waste Management INC	Stock-Industrials	5.36%	+0.85%	+0.81%
11	CTAS	Cintas CORP	Stock-Industrials	3.89%	+0.10%	+1.35%
12	SPGI	S&p Global INC	Stock-Financials	3.20%	+0.14%	+14.02%
13	LLY	Eli Lilly & Co	Stock-Healthcare	2.62%	-0.12%	-0.97%
14	ACN	Accenture plc	Stock-Tech	2.49%	-0.33%	+6.04%
15	EXPD	Expeditors Intl Wash INC	Stock-Industrials	2.35%	+0.16%	-1.13%
16	JPM	Jpmorgan Chase & Co	Stock-Financials	2.31%	+0.07%	—
17	UBER	Uber Technologies INC	Stock-Industrials	1.60%	-0.39%	-18.85%
18	ISRG	Intuitive Surgical INC	Stock-Healthcare	1.42%	-0.05%	+5.56%
19	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	1.05%	+0.07%	—
20	CRM	Salesforce INC	Stock-Tech	0.81%	+0.81%	NEW
21	DIS	Walt Disney Co/the	Stock-Comm Services	0.69%	-0.41%	-34.29%
22	SBUX	Starbucks CORP	Stock-Consumer Disc	0.64%	+0.11%	—
23	ORLY	O'reilly Automotive INC	Stock-Consumer Disc	0.60%	+0.07%	—
24	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	0.43%	+0.03%	—
25	CVX	Chevron CORP	Stock-Energy	0.29%	+0.10%	—
26	WTM	White Mountains Insurance Group, Ltd.	Stock-Financials	0.26%	+0.04%	—

Portfolio Performance

Performance for Q3 2026

+4.3%

Performance Last 4 Quarters

+2.7%

Based on 87% of reported portfolio value with available pricing

Stdev: +13.3%
Beta: +0.78
Alpha: -1.8%
Max Drawdown: -8.4%
Annualized Perf: +12.5%
Batting Avg vs S&P: +50%
Sortino: +1.8
Stutzer: +0.28
Treynor: +0.16
Sterling: +0.74
Calmar: +1.49
Information Ratio: -0.65
Tracking Error: +8.9%
Stdev Down: +7%
Winning Months %: +63.9%
Losing Months %: +36.1%
Best 12 Months: +34.9%
Worst 12 Months: -5.1%
Efficiency Ratio: +0.38
Sharpe: +0.96
Stdev Sectors: +10.8%
Skewness: +0.15
Kurtosis: -0.42
Upside Potential: +3.52

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	26	$121.2M	18	1COST 2MSFT 3MA Top holdings2026-03-31 1.COST 2.MSFT 3.MA 4.AMZN 5.MKL 6.V 7.AAPL 8.MELI 9.AXP 10.WM
2025-12-31	27	$136.7M	12	1MSFT 2COST 3MA Top holdings2025-12-31 1.MSFT 2.COST 3.MA 4.AMZN 5.MKL 6.V 7.MELI 8.AXP 9.AAPL 10.WM
2025-09-30	29	$140.6M	25	1MSFT 2COST 3MA Top holdings2025-09-30 1.MSFT 2.COST 3.MA 4.AMZN 5.V 6.MELI 7.MKL 8.META 9.AXP 10.AAPL
2025-06-30	29	$143.3M	0	1COST 2MSFT 3MA Top holdings2025-06-30 1.COST 2.MSFT 3.MA 4.MELI 5.AMZN 6.V 7.MKL 8.AAPL 9.AXP 10.WM
2025-03-31	28	$133.9M	100	1COST 2MA 3MSFT Top holdings2025-03-31 1.COST 2.MA 3.MSFT 4.V 5.AMZN 6.MKL 7.AAPL 8.MELI 9.GEHC 10.AXP
2024-12-31	29	$134.4M	0	1COST 2MSFT 3MA Top holdings2024-12-31 1.COST 2.MSFT 3.MA 4.AMZN 5.AAPL 6.V 7.MKL 8.MELI 9.GEHC 10.AXP
2024-09-30	31	$136.9M	0	1COST 2MSFT 3MA Top holdings2024-09-30 1.COST 2.MSFT 3.MA 4.AAPL 5.AMZN 6.MELI 7.GEHC 8.V 9.MKL 10.AXP
2024-06-30	32	$131.5M	0	1MSFT 2COST 3MA Top holdings2024-06-30 1.MSFT 2.COST 3.MA 4.AMZN 5.AAPL 6.MKL 7.V 8.MELI 9.GEHC 10.ACN
2024-03-31	32	$135.7M	0	1MSFT 2COST 3MA Top holdings2024-03-31 1.MSFT 2.COST 3.MA 4.AMZN 5.V 6.GEHC 7.MKL 8.AAPL 9.MELI 10.ACN
2023-12-31	36	$131.3M	0	1MSFT 2COST 3MA Top holdings2023-12-31 1.MSFT 2.COST 3.MA 4.AAPL 5.AMZN 6.V 7.MKL 8.GEHC 9.MELI 10.ACN
2023-09-30	34	$118.1M	0	1MSFT 2COST 3MA Top holdings2023-09-30 1.MSFT 2.COST 3.MA 4.AAPL 5.MKL 6.V 7.AMZN 8.ACN 9.GEHC 10.MELI
2023-06-30	36	$126.2M	0	1MSFT 2AAPL 3MA Top holdings2023-06-30 1.MSFT 2.AAPL 3.MA 4.COST 5.V 6.GEHC 7.ACN 8.AMZN 9.MKL 10.MELI
2023-03-31	36	$121.5M	0	1MSFT 2MA 3COST Top holdings2023-03-31 1.MSFT 2.MA 3.COST 4.AAPL 5.XOM 6.V 7.GEHC 8.SPYX 9.ACN 10.MELI
2022-12-31	37	$109.6M	0	1MA 2MSFT 3COST Top holdings2022-12-31 1.MA 2.MSFT 3.COST 4.XOM 5.V 6.SCHW 7.AAPL 8.ACN 9.AMZN 10.WM
2022-09-30	39	$136.7M	0	1COST 2MSFT 3AMZN Top holdings2022-09-30 1.COST 2.MSFT 3.AMZN 4.AAPL 5.MA 6.GOOGL 7.V 8.ACN 9.SCHW 10.XOM
2022-06-30	43	$144.7M	0	1MSFT 2COST 3AMZN Top holdings2022-06-30 1.MSFT 2.COST 3.AMZN 4.AAPL 5.GOOGL 6.V 7.MA 8.ACN 9.XOM 10.SCHW
2022-03-31	43	$187.9M	0	1MSFT 2AMZN 3COST Top holdings2022-03-31 1.MSFT 2.AMZN 3.COST 4.AAPL 5.GOOGL 6.V 7.MA 8.ACN 9.SCHW 10.DIS
2021-12-31	51	$218.7M	0	1MSFT 2AMZN 3AAPL Top holdings2021-12-31 1.MSFT 2.AMZN 3.AAPL 4.COST 5.GOOGL 6.ACN 7.V 8.MA 9.PYPL 10.DIS
2021-09-30	44	$192.7M	0	1AMZN 2MSFT 3PYPL Top holdings2021-09-30 1.AMZN 2.MSFT 3.PYPL 4.GOOGL 5.COST 6.V 7.AAPL 8.MA 9.ACN 10.MELI
2021-06-30	40	$180.3M	100	1AMZN 2PYPL 3MSFT Top holdings2021-06-30 1.AMZN 2.PYPL 3.MSFT 4.GOOGL 5.V 6.COST 7.MA 8.XYZ 9.ACN 10.AAPL
2021-03-31	40	$158.6M	15	1AMZN 2PYPL 3MSFT Top holdings2021-03-31 1.AMZN 2.PYPL 3.MSFT 4.V 5.GOOGL 6.COST 7.MA 8.XYZ 9.DIS 10.ACN
2020-12-31	36	$153.8M	19	1AMZN 2PYPL 3MSFT Top holdings2020-12-31 1.AMZN 2.PYPL 3.MSFT 4.V 5.COST 6.MA 7.MELI 8.GOOGL 9.DIS 10.AAPL
2020-09-30	38	$135.3M	19	1AMZN 2MSFT 3PYPL Top holdings2020-09-30 1.AMZN 2.MSFT 3.PYPL 4.V 5.COST 6.MA 7.AAPL 8.GOOGL 9.FIS 10.ACN
2020-06-30	40	$122.2M	41	1AMZN 2MSFT 3PYPL Top holdings2020-06-30 1.AMZN 2.MSFT 3.PYPL 4.V 5.COST 6.MA 7.GOOGL 8.ECL 9.ACN 10.FIS
2020-03-31	39	$93.4M	32	1AMZN 2MSFT 3V Top holdings2020-03-31 1.AMZN 2.MSFT 3.V 4.COST 5.MA 6.PYPL 7.GOOGL 8.FIS 9.EXPD 10.ECL
2019-12-31	37	$109.5M	—	1AMZN 2V 3MSFT Top holdings2019-12-31 1.AMZN 2.V 3.MSFT 4.COST 5.MA 6.BAC 7.DIS 8.AL 9.EXPD 10.PYPL

Holding changes this quarter

Position changes disclosed by Chapman Investment Management, LLC for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	COST	Costco Wholesale CORP	+2.7%	-0.34%	Trim
2	AAPL	Apple INC	+1.1%	+14.74%	Add
3	WM	Waste Management INC	+0.9%	+0.81%	Add
4	EXPD	Expeditors Intl Wash INC	+0.2%	-1.13%	Trim
5	SPGI	S&p Global INC	+0.1%	+14.02%	Add
6	SBUX	Starbucks CORP	+0.1%	—	Unchanged
7	CTAS	Cintas CORP	+0.1%	+1.35%	Add
8	CVX	Chevron CORP	+0.1%	—	Unchanged
9	AMZN	Amazon.com INC	+0.1%	-0.66%	Trim
10	JPM	Jpmorgan Chase & Co	+0.1%	—	Unchanged
11	SPY	Ss Spdr S&p 500 ETF Trust-us	+0.1%	—	Unchanged
12	ORLY	O'reilly Automotive INC	+0.1%	—	Unchanged
13	WTM	White Mountains Insurance Group, Ltd.	0%	—	Unchanged
14	BRK-B	Berkshire Hathaway Inc-cl B	0%	—	Unchanged
15	MKL	Markel Group INC	—	-0.50%	Trim
16	ISRG	Intuitive Surgical INC	-0.1%	+5.56%	Add
17	LLY	Eli Lilly & Co	-0.1%	-0.97%	Trim
18	MA	Mastercard INC - A	-0.1%	-0.37%	Trim
19	MELI	Mercadolibre INC	-0.2%	-0.57%	Trim
20	V	Visa Inc-class A Shares	-0.2%	-0.44%	Trim
21	ACN	Accenture plc	-0.3%	+6.04%	Add
22	UBER	Uber Technologies INC	-0.4%	-18.85%	Trim
23	DIS	Walt Disney Co/the	-0.4%	-34.29%	Trim
24	AXP	American Express Co	-0.4%	+0.64%	Add
25	MSFT	Microsoft CORP	-1.4%	+0.59%	Add
26	META	Meta Platforms Inc-class A	—	EXIT	Sold out
27	CRM	Salesforce INC	—	NEW	New buy
28	BAC	Bank Of America CORP	—	EXIT	Sold out

Filing History

Period	Filed	Type	EDGAR
2026-03-31	2026-05-04	13F-HR	View on EDGAR
2025-12-31	2026-02-04	13F-HR	View on EDGAR
2025-09-30	2025-11-05	13F-HR	View on EDGAR
2025-06-30	2025-08-05	13F-HR	View on EDGAR
2025-03-31	2025-05-01	13F-HR	View on EDGAR
2024-12-31	2025-01-31	13F-HR	View on EDGAR
2024-09-30	2024-10-28	13F-HR	View on EDGAR
2024-06-30	2024-08-07	13F-HR	View on EDGAR
2024-03-31	2024-05-03	13F-HR	View on EDGAR
2023-12-31	2024-02-02	13F-HR	View on EDGAR
2023-09-30	2023-11-01	13F-HR	View on EDGAR
2023-06-30	2023-08-01	13F-HR	View on EDGAR
2023-03-31	2023-04-25	13F-HR	View on EDGAR
2022-12-31	2023-02-07	13F-HR	View on EDGAR
2022-09-30	2022-11-01	13F-HR	View on EDGAR
2022-06-30	2022-08-01	13F-HR	View on EDGAR
2022-03-31	2022-05-09	13F-HR	View on EDGAR
2021-12-31	2022-01-20	13F-HR	View on EDGAR
2021-09-30	2021-11-15	13F-HR	View on EDGAR
2021-06-30	2021-08-03	13F-HR	View on EDGAR
2021-03-31	2021-04-26	13F-HR	View on EDGAR
2020-12-31	2021-01-26	13F-HR	View on EDGAR
2020-09-30	2020-10-14	13F-HR	View on EDGAR
2020-06-30	2020-07-15	13F-HR	View on EDGAR
2020-03-31	2020-04-10	13F-HR	View on EDGAR
2019-12-31	2020-01-23	13F-HR	View on EDGAR