# Callahan Advisors, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1395055. Source: https://holderbook.com/funds/1395055-callahan-advisors-llc/

- Reported value: $1.3B
- Positions: 181
- Weight of the ten largest: 35.7%
- Filed: 2026-08-03

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 |
|---|---|---|---|---|---|
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $83.7M | 236,926 | 6.3% | 31 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $58.1M | 103,080 | 4.4% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $56.2M | 235,831 | 4.2% | 31 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $47.2M | 126,474 | 3.6% | 31 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $44.3M | 61,228 | 3.3% | 31 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $42.1M | 39,578 | 3.2% | 31 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $40.9M | 141,395 | 3.1% | 31 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $35.7M | 178,501 | 2.7% | 14 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $34.4M | 100,999 | 2.6% | 31 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $31.0M | 94,588 | 2.3% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $30.6M | 61,073 | 2.3% | 31 |
| BROOKFIELD CORP | [BN](https://holderbook.com/stocks/BN/) | $30.2M | 708,571 | 2.3% | 14 |
| ASML HLDG NV | [ASML](https://holderbook.com/stocks/ASML/) | $28.2M | 14,188 | 2.1% | 12 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $27.0M | 106,466 | 2.0% | 31 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $26.1M | 21,791 | 2.0% | 19 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $25.4M | 289,805 | 1.9% | 31 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $24.9M | 139,751 | 1.9% | 31 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $23.5M | 49,233 | 1.8% | 9 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $20.7M | 40,392 | 1.6% | 12 |
| EQT CORP | [EQT](https://holderbook.com/stocks/EQT/) | $20.7M | 388,477 | 1.6% | 19 |
| FORTINET INC | [FTNT](https://holderbook.com/stocks/FTNT/) | $20.4M | 133,076 | 1.5% | 24 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $20.0M | 147,922 | 1.5% | 31 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $19.1M | 70,826 | 1.4% | 31 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $18.8M | 59,630 | 1.4% | 31 |
| FEDEX CORP | [FDX](https://holderbook.com/stocks/FDX/) | $18.6M | 59,560 | 1.4% | 31 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $16.9M | 123,869 | 1.3% | 31 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $15.6M | 37,538 | 1.2% | 31 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $15.0M | 132,761 | 1.1% | 31 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $14.8M | 100,890 | 1.1% | 31 |
| DYCOM INDS INC | [DY](https://holderbook.com/stocks/DY/) | $14.2M | 28,125 | 1.1% | 12 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $12.7M | 76,544 | 1.0% | 31 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $12.5M | 56,490 | 0.9% | 31 |
| UNITED RENTALS INC | [URI](https://holderbook.com/stocks/URI/) | $12.3M | 10,837 | 0.9% | 31 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $11.4M | 110,374 | 0.9% | 31 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $11.3M | 471,052 | 0.9% | 31 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $11.0M | 25,775 | 0.8% | 31 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $10.8M | 151,451 | 0.8% | 7 |
| PAYCHEX INC | [PAYX](https://holderbook.com/stocks/PAYX/) | $10.7M | 109,062 | 0.8% | 31 |
| DAVITA INC | [DVA](https://holderbook.com/stocks/DVA/) | $10.0M | 45,098 | 0.8% | 3 |
| STERIS PLC | [STE](https://holderbook.com/stocks/STE/) | $9.8M | 46,657 | 0.7% | 30 |
| KINDER MORGAN INC DEL | [KMI](https://holderbook.com/stocks/KMI/) | $9.6M | 300,963 | 0.7% | 31 |
| WELLTOWER INC | [WELL](https://holderbook.com/stocks/WELL/) | $9.5M | 41,924 | 0.7% | 31 |
| MSCI INC | [MSCI](https://holderbook.com/stocks/MSCI/) | $9.4M | 16,840 | 0.7% | 3 |
| CORTEVA INC | [CTVA](https://holderbook.com/stocks/CTVA/) | $8.9M | 104,955 | 0.7% | 27 |
| PRIMERICA INC | [PRI](https://holderbook.com/stocks/PRI/) | $8.8M | 31,048 | 0.7% | 3 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $8.6M | 24,092 | 0.6% | 31 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $7.9M | 6,699 | 0.6% | 5 |
| EAGLE MATLS INC | [EXP](https://holderbook.com/stocks/EXP/) | $7.4M | 32,739 | 0.6% | 19 |
| IQVIA HLDGS INC | [IQV](https://holderbook.com/stocks/IQV/) | $7.3M | 37,917 | 0.6% | 31 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $7.0M | 59,625 | 0.5% | 31 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $6.9M | 75,943 | 0.5% | 31 |
| STELLAR BANCORP INC | [STEL](https://holderbook.com/stocks/STEL/) | $6.3M | 160,912 | 0.5% | 14 |
| CANADIAN NATL RY CO | [CNI](https://holderbook.com/stocks/CNI/) | $6.3M | 52,841 | 0.5% | 31 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $6.0M | 17,830 | 0.5% | 31 |
| ENBRIDGE INC | [ENB](https://holderbook.com/stocks/ENB/) | $5.9M | 108,619 | 0.4% | 31 |
| CARDINAL HEALTH INC | [CAH](https://holderbook.com/stocks/CAH/) | $5.6M | 23,409 | 0.4% | 21 |
| PROLOGIS INC. | [PLD](https://holderbook.com/stocks/PLD/) | $5.4M | 39,813 | 0.4% | 24 |
| WILLIS TOWERS WATSON PLC LTD | [WTW](https://holderbook.com/stocks/WTW/) | $5.3M | 20,361 | 0.4% | 31 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $5.2M | 54,234 | 0.4% | 31 |
| CLOROX CO DEL | [CLX](https://holderbook.com/stocks/CLX/) | $5.1M | 53,216 | 0.4% | 3 |
| NORTHERN TR CORP | [NTRS](https://holderbook.com/stocks/NTRS/) | $5.1M | 29,051 | 0.4% | 31 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $4.5M | 55,504 | 0.3% | 31 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $4.5M | 11,923 | 0.3% | 5 |
| SLB LIMITED | [SLB](https://holderbook.com/stocks/SLB/) | $4.2M | 90,737 | 0.3% | 22 |
| ACCENTURE PLC IRELAND | [ACN](https://holderbook.com/stocks/ACN/) | $4.1M | 32,632 | 0.3% | 31 |
| SOUTH PLAINS FINANCIAL INC | [SPFI](https://holderbook.com/stocks/SPFI/) | $3.9M | 90,944 | 0.3% | 1 |
| FIRST SOLAR INC | [FSLR](https://holderbook.com/stocks/FSLR/) | $3.9M | 16,435 | 0.3% | 3 |
| MERCADOLIBRE INC | [MELI](https://holderbook.com/stocks/MELI/) | $3.7M | 2,199 | 0.3% | 3 |
| CULLEN FROST BANKERS INC | [CFR](https://holderbook.com/stocks/CFR/) | $3.7M | 24,052 | 0.3% | 31 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $3.6M | 23,470 | 0.3% | 31 |
| DOMINION ENERGY INC | [D](https://holderbook.com/stocks/D/) | $3.5M | 51,706 | 0.3% | 3 |
| SKYWARD SPECIALTY INS GROUP | [SKWD](https://holderbook.com/stocks/SKWD/) | $3.2M | 54,830 | 0.2% | 10 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $3.1M | 9,167 | 0.2% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $3.0M | 4 | 0.2% | 7 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $2.9M | 22,700 | 0.2% | 31 |
| BHP BILLITON LIMITED | [BHP](https://holderbook.com/stocks/BHP/) | $2.9M | 34,757 | 0.2% | 31 |
| AT&T INC | [T](https://holderbook.com/stocks/T/) | $2.8M | 136,098 | 0.2% | 31 |
| BLACKROCK MUNIHOLDINGS FD IN | [MHD](https://holderbook.com/stocks/MHD/) | $2.8M | 236,644 | 0.2% | 2 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $2.8M | 14,826 | 0.2% | 25 |
| CINTAS CORP | [CTAS](https://holderbook.com/stocks/CTAS/) | $2.8M | 16,502 | 0.2% | 31 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $2.8M | 17,769 | 0.2% | 23 |
| ENTERPRISE PRODS PARTNERS L | [EPD](https://holderbook.com/stocks/EPD/) | $2.7M | 72,335 | 0.2% | 31 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $2.6M | 7,448 | 0.2% | 31 |
| SCHWAB STRATEGIC TR | [SCHB](https://holderbook.com/stocks/SCHB/) | $2.6M | 89,990 | 0.2% | 31 |
| KENVUE INC | [KVUE](https://holderbook.com/stocks/KVUE/) | $2.6M | 134,405 | 0.2% | 4 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $2.6M | 11,402 | 0.2% | 2 |
| LOCKHEED MARTIN CORP | [LMT](https://holderbook.com/stocks/LMT/) | $2.5M | 4,980 | 0.2% | 24 |
| GENERAL DYNAMICS CORP | [GD](https://holderbook.com/stocks/GD/) | $2.5M | 7,147 | 0.2% | 31 |
| HERSHEY CO | [HSY](https://holderbook.com/stocks/HSY/) | $2.5M | 14,155 | 0.2% | 7 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $2.3M | 12,525 | 0.2% | 31 |
| LAZARD INC | [LAZ](https://holderbook.com/stocks/LAZ/) | $2.2M | 52,442 | 0.2% | 10 |
| EOG RES INC | [EOG](https://holderbook.com/stocks/EOG/) | $2.2M | 16,814 | 0.2% | 26 |
| THOMSON REUTERS CORP | [TRI](https://holderbook.com/stocks/TRI/) | $2.1M | 25,906 | 0.2% | 1 |
| UNILEVER PLC | [UL](https://holderbook.com/stocks/UL/) | $2.0M | 32,651 | 0.1% | 2 |
| VERISK ANALYTICS INC | [VRSK](https://holderbook.com/stocks/VRSK/) | $2.0M | 10,868 | 0.1% | 31 |
| BROWN FORMAN CORP | [BFB](https://holderbook.com/stocks/BFB/) | $1.9M | 71,249 | 0.1% | 6 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $1.8M | 8,955 | 0.1% | 13 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $1.8M | 18,367 | 0.1% | 23 |
| RESTAURANT BRANDS INTL INC | [QSR](https://holderbook.com/stocks/QSR/) | $1.8M | 25,030 | 0.1% | 17 |
| ISHARES TR | [FLOT](https://holderbook.com/stocks/FLOT/) | $1.8M | 34,652 | 0.1% | 10 |

## 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 | +10.0% | +14.8% | -4.8% | 100% |
| Q1 2026 | -1.9% | -4.6% | +2.7% | 100% |
| Q4 2025 | +3.3% | +2.4% | +1.0% | 100% |
| Q3 2025 | +5.3% | +7.8% | -2.5% | 100% |
| Q2 2025 | +5.7% | +10.5% | -4.8% | 100% |
| Q1 2025 | -2.0% | -4.6% | +2.6% | 100% |
| Q4 2024 | +0.4% | +2.1% | -1.7% | 100% |
| Q3 2024 | +7.2% | +5.4% | +1.8% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.3B | 181 |
| Q1 2026 | $1.2B | 177 |
| Q4 2025 | $1.2B | 174 |
| Q3 2025 | $1.2B | 168 |
| Q2 2025 | $1.1B | 173 |
| Q1 2025 | $1.0B | 162 |
| Q4 2024 | $1.1B | 166 |
| Q3 2024 | $1.0B | 144 |
| Q2 2024 | $961.8M | 146 |
| Q1 2024 | $953.5M | 144 |
| Q4 2023 | $862.0M | 141 |
| Q3 2023 | $796.2M | 140 |