Chapman Investment Management, LLC

Portfolio Overview

Chapman Investment Management, LLC disclosed 27 positions worth $121.2M in its Form 13F-HR for Q2 2026 — $0 in common stock plus $121.2M of put/call option positions (reported at underlying notional value, not premium at risk), led by $COST (COSTCO WHOLESALE CORP /NEW) puts, followed by $AMZN and $MSFT. During the quarter the fund opened 27 new positions and exited 26 — including a new stake in $COST and a full exit from $COST. All figures are sourced directly from Chapman Investment Management, LLC’s Form 13F-HR filing with the SEC under CIK 1751006.

• 

  COSTCO WHOLESALE CORP /NEW

  $COST PUT

  65.9#434

  Quality

  $13.0M13,890 sh
• 

  AMAZON COM INC

  $AMZN PUT

  68.4#301

  Quality

  $10.9M45,825 sh
• 

  MICROSOFT CORP

  $MSFT PUT

  79.7#31

  Quality

  $10.7M28,705 sh
• 

  Mastercard Inc

  $MA PUT

  85.0

  Quality

  $10.3M19,985 sh
• 

  VISA INC.

  $V PUT

  82.7

  Quality

  $9.6M27,859 sh
• 

  MARKEL GROUP INC.

  $MKL PUT

  60.0

  Quality

  $9.1M4,644 sh
• 

  Apple Inc.

  $AAPL PUT

  76.3

  Quality

  $8.7M30,003 sh
• 

  AMERICAN EXPRESS CO

  $AXP PUT

  69.1

  Quality

  $7.1M20,941 sh
• 

  WASTE MANAGEMENT INC

  $WM PUT

  67.2

  Quality

  $6.1M27,173 sh
• 

  MERCADOLIBRE INC

  $MELI PUT

  80.1

  Quality

  $5.7M3,387 sh

Company	Quality	Value	Shares
COSTCO WHOLESALE CORP /NEW$COSTPUT	65.9#434	$13.0M	13,890
AMAZON COM INC$AMZNPUT	68.4#301	$10.9M	45,825
MICROSOFT CORP$MSFTPUT	79.7#31	$10.7M	28,705
Mastercard Inc$MAPUT	85.0	$10.3M	19,985
VISA INC.$VPUT	82.7	$9.6M	27,859
MARKEL GROUP INC.$MKLPUT	60.0	$9.1M	4,644
Apple Inc.$AAPLPUT	76.3	$8.7M	30,003
AMERICAN EXPRESS CO$AXPPUT	69.1	$7.1M	20,941
WASTE MANAGEMENT INC$WMPUT	67.2	$6.1M	27,173
MERCADOLIBRE INC$MELIPUT	80.1	$5.7M	3,387

Showing top 10 of 27 holdings.

Full Holdings — Chapman Investment Management, LLC (Q2 2026)

All 27 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.

#	Ticker	Company	Value	Weight	QoQ	Quality
1	$COSTPUT	COSTCO WHOLESALE CORP /NEW	$13.0M	—	NEW	65.9
2	$AMZNPUT	AMAZON COM INC	$10.9M	—	NEW	68.4
3	$MSFTPUT	MICROSOFT CORP	$10.7M	—	NEW	79.7
4	$MAPUT	Mastercard Inc	$10.3M	—	NEW	85
5	$VPUT	VISA INC.	$9.6M	—	NEW	82.7
6	$MKLPUT	MARKEL GROUP INC.	$9.1M	—	NEW	60
7	$AAPLPUT	Apple Inc.	$8.7M	—	NEW	76.3
8	$AXPPUT	AMERICAN EXPRESS CO	$7.1M	—	NEW	69.1
9	$WMPUT	WASTE MANAGEMENT INC	$6.1M	—	NEW	67.2
10	$MELIPUT	MERCADOLIBRE INC	$5.7M	—	NEW	80.1
11	$CTASPUT	CINTAS CORP	$4.6M	—	NEW	68.3
12	$LLYPUT	ELI LILLY & Co	$4.1M	—	NEW	87.5
13	$JPMPUT	JPMORGAN CHASE & CO	$3.1M	—	NEW	70.3
14	$SPGIPUT	S&P Global Inc.	$3.1M	—	NEW	75.8
15	$EXPDPUT	EXPEDITORS INTERNATIONAL OF WASHINGTON INC	$3.0M	—	NEW	65.9
16	$GOOGPUT	Alphabet Inc.	$2.0M	—	NEW	78.1
17	$UBERPUT	Uber Technologies, Inc	$1.9M	—	NEW	73.3
18	$ISRGPUT	INTUITIVE SURGICAL INC	$1.5M	—	NEW	79.7
19	$ACNPUT	Accenture plc	$1.4M	—	NEW	—
20	$SPYPUT	SPDR S&P 500 ETF TRUST	$1.3M	—	NEW	—
21	$SBUXPUT	STARBUCKS CORP	$1.3M	—	NEW	57.9
22	$CRMPUT	Salesforce, Inc.	$823,562	—	NEW	76.9
23	$ORLYPUT	O REILLY AUTOMOTIVE INC	$729,353	—	NEW	67
24	$BRK.BPUT	BERKSHIRE HATHAWAY INC	$519,405	—	NEW	73.6
25	$WTMPUT	WHITE MOUNTAINS INSURANCE GROUP LTD	$296,495	—	NEW	—
26	$BACPUT	BANK OF AMERICA CORP /DE/	$231,460	—	NEW	67.3
27	$CVXPUT	CHEVRON CORP	$201,730	—	NEW	62.6