# DILLON & ASSOCIATES INC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1054425. Source: https://holderbook.com/funds/1054425-dillon-associates-inc/

- Reported value: $817.2M
- Positions: 80
- Weight of the ten largest: 63.2%
- Filed: 2026-08-05

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $169.6M | 848,222 | 20.8% | 31 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $72.6M | 251,126 | 8.9% | 31 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $68.7M | 192,561 | 8.4% | 31 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $43.6M | 127,941 | 5.3% | 16 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $40.3M | 117,613 | 4.9% | 31 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $29.7M | 94,225 | 3.6% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $24.4M | 102,422 | 3.0% | 31 |
| CASEYS GEN STORES INC | [CASY](https://holderbook.com/stocks/CASY/) | $24.3M | 30,585 | 3.0% | 8 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $23.0M | 252,404 | 2.8% | 31 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $20.3M | 57,547 | 2.5% | 31 |
| OREILLY AUTOMOTIVE INC | [ORLY](https://holderbook.com/stocks/ORLY/) | $17.5M | 189,729 | 2.1% | 31 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $16.7M | 74,710 | 2.0% | 31 |
| AIR PRODUCTS AND CHEMICALS I | [APD](https://holderbook.com/stocks/APD/) | $16.6M | 56,812 | 2.0% | 31 |
| ECOLAB INC | [ECL](https://holderbook.com/stocks/ECL/) | $16.6M | 59,520 | 2.0% | 31 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $16.2M | 40,683 | 2.0% | 26 |
| NORFOLK SOUTHN CORP | [NSC](https://holderbook.com/stocks/NSC/) | $15.5M | 49,318 | 1.9% | 31 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $15.3M | 69,382 | 1.9% | 31 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $14.5M | 12,093 | 1.8% | 13 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $13.6M | 14,503 | 1.7% | 19 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $10.5M | 24,693 | 1.3% | 31 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $10.4M | 54,953 | 1.3% | 31 |
| CANADIAN NATL RY CO | [CNI](https://holderbook.com/stocks/CNI/) | $8.7M | 73,054 | 1.1% | 31 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $8.7M | 23,204 | 1.1% | 31 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $7.8M | 40,908 | 1.0% | 25 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $7.6M | 86,923 | 0.9% | 31 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $7.0M | 20,678 | 0.9% | 2 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $6.8M | 12,126 | 0.8% | 31 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $6.4M | 62,662 | 0.8% | 31 |
| MONSTER BEVERAGE CORP NEW | [MNST](https://holderbook.com/stocks/MNST/) | $5.9M | 61,784 | 0.7% | 19 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $5.8M | 23,002 | 0.7% | 31 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $5.1M | 15,544 | 0.6% | 31 |
| CHIPOTLE MEXICAN GRILL INC | [CMG](https://holderbook.com/stocks/CMG/) | $4.8M | 140,314 | 0.6% | 25 |
| DUTCH BROS INC | [BROS](https://holderbook.com/stocks/BROS/) | $4.4M | 61,521 | 0.5% | 1 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $4.3M | 59,922 | 0.5% | 3 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $3.5M | 9,950 | 0.4% | 31 |
| PAYCOM SOFTWARE INC | [PAYC](https://holderbook.com/stocks/PAYC/) | $3.5M | 27,756 | 0.4% | 31 |
| ASML HLDG NV | [ASML](https://holderbook.com/stocks/ASML/) | $3.4M | 1,724 | 0.4% | 18 |
| ASTRAZENECA PLC | [AZN](https://holderbook.com/stocks/AZN/) | $2.9M | 15,165 | 0.4% | 1 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $2.8M | 20,775 | 0.3% | 31 |
| NOVO-NORDISK A S | [NVO](https://holderbook.com/stocks/NVO/) | $2.8M | 57,796 | 0.3% | 31 |
| REGENERON PHARMACEUTICALS | [REGN](https://holderbook.com/stocks/REGN/) | $2.5M | 4,086 | 0.3% | 22 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $2.5M | 9,081 | 0.3% | 31 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $2.4M | 15,997 | 0.3% | 31 |
| COLGATE PALMOLIVE CO | [CL](https://holderbook.com/stocks/CL/) | $2.1M | 22,650 | 0.3% | 31 |
| PAYCHEX INC | [PAYX](https://holderbook.com/stocks/PAYX/) | $2.0M | 20,359 | 0.2% | 31 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $1.9M | 4,749 | 0.2% | 18 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $1.8M | 11,779 | 0.2% | 31 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $1.8M | 15,775 | 0.2% | 31 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $1.8M | 7,026 | 0.2% | 31 |
| GENERAC HLDGS INC | [GNRC](https://holderbook.com/stocks/GNRC/) | $1.6M | 5,628 | 0.2% | 21 |
| CELSIUS HLDGS INC | [CELH](https://holderbook.com/stocks/CELH/) | $1.3M | 46,064 | 0.2% | 10 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $1.0M | 5,497 | 0.1% | 31 |
| SYSCO CORP | [SYY](https://holderbook.com/stocks/SYY/) | $1.0M | 12,014 | 0.1% | 31 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $899.0K | 2,483 | 0.1% | 31 |
| HONEYWELL INTL INC | [HON](https://holderbook.com/stocks/HON/) | $734.0K | 3,277 | 0.1% | 1 |
| HONEYWELL AEROSPACE INC | [HONA](https://holderbook.com/stocks/HONA/) | $724.0K | 3,277 | 0.1% | 1 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $722.0K | 1,511 | 0.1% | 3 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $674.0K | 574 | 0.1% | 2 |
| ROCKWELL AUTOMATION INC | [ROK](https://holderbook.com/stocks/ROK/) | $670.0K | 1,353 | 0.1% | 11 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $633.0K | 5,413 | 0.1% | 31 |
| EMERSON ELEC CO | [EMR](https://holderbook.com/stocks/EMR/) | $477.0K | 3,335 | 0.1% | 25 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $463.0K | 1,113 | 0.1% | 31 |
| AFLAC INC | [AFL](https://holderbook.com/stocks/AFL/) | $386.0K | 3,300 | 0.0% | 15 |
| HERSHEY CO | [HSY](https://holderbook.com/stocks/HSY/) | $371.0K | 2,121 | 0.0% | 18 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $366.0K | 870 | 0.0% | 6 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $326.0K | 3,397 | 0.0% | 31 |
| NOVARTIS AG | [NVS](https://holderbook.com/stocks/NVS/) | $319.0K | 2,031 | 0.0% | 31 |
| US BANCORP | [USB](https://holderbook.com/stocks/USB/) | $309.0K | 5,150 | 0.0% | 10 |
| MONDELEZ INTL INC | [MDLZ](https://holderbook.com/stocks/MDLZ/) | $304.0K | 5,242 | 0.0% | 31 |
| CAPITAL ONE FINL CORP | [COF](https://holderbook.com/stocks/COF/) | $302.0K | 1,500 | 0.0% | 10 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $302.0K | 3,728 | 0.0% | 31 |
| MARSH & MCLENNAN COS INC | [MRSH](https://holderbook.com/stocks/MRSH/) | $301.0K | 1,800 | 0.0% | 21 |
| ENBRIDGE INC | [ENB](https://holderbook.com/stocks/ENB/) | $288.0K | 5,337 | 0.0% | 8 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $282.0K | 564 | 0.0% | 8 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $281.0K | 541 | 0.0% | 8 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $262.0K | 246 | 0.0% | 1 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $253.0K | 435 | 0.0% | 1 |
| IMMUNITYBIO INC | [IBRX](https://holderbook.com/stocks/IBRX/) | $214.0K | 23,800 | 0.0% | 5 |
| GENERAL ELECTRIC CO | [GEXXXX](https://holderbook.com/stocks/GEXXXX/) | $211.0K | 564 | 0.0% | 1 |
| PALANTIR TECHNOLOGIES INC | [PLTR](https://holderbook.com/stocks/PLTR/) | $200.0K | 1,710 | 0.0% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +12.1% | +14.8% | -2.8% | 100% |
| Q1 2026 | -6.7% | -4.6% | -2.0% | 100% |
| Q4 2025 | +0.5% | +2.4% | -1.8% | 100% |
| Q3 2025 | +6.1% | +7.8% | -1.8% | 100% |
| Q2 2025 | +9.2% | +10.5% | -1.2% | 100% |
| Q1 2025 | -5.8% | -4.6% | -1.2% | 100% |
| Q4 2024 | +1.7% | +2.1% | -0.4% | 100% |
| Q3 2024 | +3.7% | +5.4% | -1.7% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $817.2M | 80 |
| Q1 2026 | $726.4M | 75 |
| Q4 2025 | $774.4M | 77 |
| Q3 2025 | $777.7M | 76 |
| Q2 2025 | $736.7M | 77 |
| Q1 2025 | $673.1M | 78 |
| Q4 2024 | $721.1M | 81 |
| Q3 2024 | $710.6M | 81 |
| Q2 2024 | $687.8M | 80 |
| Q1 2024 | $636.5M | 82 |
| Q4 2023 | $551.3M | 78 |
| Q3 2023 | $519.6M | 77 |