In a large pot or Dutch oven, heat the olive oil over medium heat. Add the diced onion and minced garlic, and sauté for about 3-4 minutes, until the onion is translucent.
Add the ground beef and diced ham to the pot. Cook until the meat is browned, about 5-7 minutes. Make sure to break up the ground beef as it cooks.
Stir in the diced potatoes, chicken broth, dried thyme, salt, and pepper. Bring the mixture to a boil, then reduce the heat and let it simmer for about 15-20 minutes, or until the potatoes are fork-tender.
Once the potatoes are cooked, stir in the heavy cream and shredded cheddar cheese until melted and creamy. Allow the soup to simmer for an additional 5 minutes to heat through.
Taste the soup and adjust seasoning with more salt and pepper if needed. Remove from heat.
Serve hot, garnished with fresh parsley if desired. Enjoy your cheesy ham, beef, and potato soup!
Feel free to add other vegetables like carrots or peas for added nutrition.
For a spicier kick, consider adding diced jalapeños or a dash of hot sauce.
This soup can be stored in an airtight container in the refrigerator for up to 3 days or frozen for up to 2 months. Reheat on the stovetop over low heat, adding a splash of broth if needed to reach the desired consistency.