Callahan Advisors, LLC

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 31, 2025), Callahan Advisors, LLC reported 166 stock positions worth $1.1 billion. Its top holding was Meta Platforms Class A (META) at 5.9% of the portfolio, followed by Microsoft (MSFT, 4.9%) and Alphabet Class C (GOOG, 4.6%). Compared with Q3 2024, it opened 27 new positions, sold out of 5, added to 69 and reduced 51. The biggest buy was Alphabet Class C (GOOG, shares +5%) and the biggest sale Meta Platforms Class A (META, shares −5%).

Most Recent 13F
Q2 2026
Location
Houston, TX
CIK
0001395055
Portfolio Value
$1.1B (Q4 2024)
SEC Filing
0001140361-25-002693 ↗ filed Jan 31, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $953.5M Q1 2024 Q2 2024: $961.8M Q2 2024 Q3 2024: $1.0B Q3 2024 Q4 2024: $1.1B $1.1B Q4 2024 Q1 2025: $1.0B Q1 2025 Q2 2025: $1.1B Q2 2025 Q3 2025: $1.2B Q3 2025 Q4 2025: $1.2B Q4 2025 Q1 2026: $1.2B Q1 2026 Q2 2026: $1.3B Q2 2026

Holdings 166 stocks · $1.1B
META Meta Platforms Inc. Class A 5.88% 106,718 $62.5M Reduce -5.1%
MSFT Microsoft Corp. 4.88% 123,014 $51.9M Add +6.0%
GOOG Alphabet Inc. Class C 4.62% 257,842 $49.1M Add +5.0%
AMZN Amazon.com Inc. 4.35% 210,803 $46.2M Add +1.9%
AAPL Apple Inc. 4.02% 170,380 $42.7M Reduce -2.2%
BRK.B Berkshire Hathaway Inc. Class B 2.59% 60,711 $27.5M Add +1.6%
BN Brookfield Corp. 2.56% 473,692 $27.2M Reduce -0.3%
JPM JPMorgan Chase & Co. 2.44% 108,115 $25.9M Reduce -6.6%
CB Chubb Ltd. 2.38% 91,560 $25.3M Reduce -0.4%
UNH Unitedhealth Group Inc. 2.09% 43,835 $22.2M Add +0.6%
BKNG Booking Holdings Inc. 1.90% 4,065 $20.2M Add +1.2%
CAT Caterpillar Inc. 1.87% 54,899 $19.9M Reduce -0.8%
FDX FedEx Corp. 1.80% 68,008 $19.1M Reduce -0.5%
WMT Walmart Inc. 1.73% 202,905 $18.3M Reduce -2.1%
SYK Stryker Corp. 1.72% 50,864 $18.3M Add +0.3%
JNJ Johnson & Johnson 1.67% 122,709 $17.7M Add +3.8%
MCD McDonald's Corp. 1.63% 59,810 $17.3M Add +8.2%
XOM Exxon Mobil Corp. 1.58% 156,264 $16.8M Reduce -2.7%
PEP Pepsico Inc. 1.52% 105,880 $16.1M Add +18.5%
CVX Chevron Corp. 1.50% 109,706 $15.9M Add +1.9%
LOW Lowe's Cos Inc. 1.49% 64,198 $15.8M Reduce -2.2%
PG The Procter & Gamble Co. 1.48% 93,733 $15.7M Add +0.9%
EQT Eqt Corp. 1.46% 335,946 $15.5M Add +2.0%
NEE Nextera Energy Inc. 1.44% 214,018 $15.3M Reduce -0.9%
NVDA Nvidia Corp. 1.41% 111,825 $15.0M Add +5.1%
MA Mastercard Inc. Class A 1.25% 25,277 $13.3M Add +1.8%
FTNT Fortinet Inc. 1.24% 139,641 $13.2M Reduce -0.7%
PFE Pfizer Inc. 1.22% 488,294 $13.0M Add +16.5%
KMI Kinder Morgan Inc. 1.19% 461,177 $12.6M Reduce -3.7%
AMAT Applied Materials Inc. 1.15% 75,287 $12.2M Add +1.0%
PAYX Paychex Inc. 1.09% 82,794 $11.6M Reduce -2.5%
EOG EOG Resources Inc. 1.05% 90,893 $11.1M Reduce -9.6%
LLY Eli Lilly & Co. 1.04% 14,334 $11.1M Reduce -3.7%
ACN Accenture PLC Class A 1.00% 30,212 $10.6M Reduce -1.7%
CRM Salesforce Inc. 0.96% 30,366 $10.2M Add +1.3%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.91% 251,124 $9.6M Add +0.7%
EXP Eagle Materials Inc. 0.90% 38,726 $9.6M Reduce -1.8%
ABT Abbott Laboratories 0.90% 84,439 $9.6M Add +13.5%
GPN Global Payments Inc. 0.86% 81,897 $9.2M Reduce -5.1%
CNI Canadian Natl Railway Co. 0.84% 87,463 $8.9M Add +23.1%
CTVA Corteva Inc. 0.78% 145,542 $8.3M Add +0.2%
T AT&T Inc. 0.76% 353,854 $8.1M Add +0.6%
STE Steris PLC 0.75% 38,569 $7.9M Add +9.3%
IQV Iqvia Holdings Inc. 0.66% 35,719 $7.0M Add +10.9%
CAH Cardinal Health Inc. 0.66% 59,328 $7.0M Reduce -2.4%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.66% 62,932 $7.0M Reduce -2.7%
URI United Rentals Inc. 0.63% 9,575 $6.7M Reduce -2.9%
CTAS Cintas Corp. 0.62% 36,016 $6.6M Reduce -3.6%
ADBE Adobe Inc. 0.61% 14,566 $6.5M Add +30.2%
ETN Eaton Corp. PLC 0.61% 19,459 $6.5M Add +2.9%
ENB Enbridge Inc. 0.55% 138,311 $5.9M Reduce -0.1%
DY Dycom Industries Inc. 0.52% 31,448 $5.5M Add +1.0%
GOOGL Alphabet Inc. Class A 0.51% 28,671 $5.4M Add +58.1%
WELL Welltower Inc. 0.50% 42,443 $5.3M Reduce -6.8%
AXP American Express Co. 0.50% 17,825 $5.3M No change
ASML ASML Holding NV-NY Reg SHS 0.48% 7,292 $5.1M Add +24.5%
STEL Stellar Bancorp Inc. 0.44% 166,730 $4.7M Reduce -4.4%
VRSK Verisk Analytics Inc. 0.44% 17,003 $4.7M Add +9.4%
WTW Willis Towers Watson PLC 0.43% 14,744 $4.6M Add +2.5%
DHI D.R. Horton Inc. 0.43% 32,768 $4.6M Reduce -6.4%
WDAY Workday Inc. Class A 0.41% 16,768 $4.3M Reduce -2.2%
TRI Thomson Reuters Corp. 0.40% 26,314 $4.2M No change
NOW ServiceNow Inc. 0.39% 3,915 $4.2M Reduce -4.4%
PAYC Paycom Software Inc. 0.39% 20,040 $4.1M No change
NKE Nike Inc. Class B 0.36% 51,245 $3.9M Reduce -23.2%
CSCO Cisco Systems Inc. 0.36% 65,500 $3.9M Add +14.2%
CFR Cullen/Frost Bankers Inc. 0.35% 27,966 $3.8M Reduce -6.0%
SBUX Starbucks Corp. 0.32% 36,777 $3.4M Add +2.3%
KO The Coca-Cola Co. 0.31% 52,616 $3.3M Add +2.6%
HD Home Depot Inc. 0.30% 8,286 $3.2M Add +109.8%
PLD Prologis Inc. 0.28% 27,804 $2.9M Add +30.9%
DHR Danaher Corp. 0.27% 12,708 $2.9M Reduce -1.3%
V Visa Inc. Class A 0.26% 8,879 $2.8M Add +0.0%
ENTG Entegris Inc. 0.26% 28,043 $2.8M Add +35.6%
MRK Merck & Co. Inc. 0.26% 27,636 $2.7M Reduce -8.1%
LAZ Lazard Inc. 0.26% 52,965 $2.7M Add +15.6%
BRK.A Berkshire Hathaway Inc. Class A 0.26% 4 $2.7M New
BHP BHP Group Ltd.-Spon ADR 0.25% 54,613 $2.7M Reduce -5.4%
EPD Enterprise Products Partners 0.25% 83,836 $2.6M Add +34.7%
UL Unilever PLC 0.25% 46,100 $2.6M No change
SKWD Skyward Specialty Insurance 0.24% 50,254 $2.5M No change
BFK BlackRock Municipal Inc. TRST 0.24% 255,263 $2.5M New
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.23% 19,911 $2.4M Reduce -1.1%
DEO Diageo PLC-Sponsored ADR 0.21% 17,728 $2.3M Reduce -49.7%
LMT Lockheed Martin Corp. 0.21% 4,615 $2.2M Add +46.0%
ZTS Zoetis Inc. 0.20% 13,105 $2.1M Add +90.4%
DOW Dow Inc. 0.19% 51,049 $2.0M Add +10.8%
TSM Taiwan Semiconductor-SP ADR 0.19% 10,319 $2.0M Add +23.4%
GD General Dynamics Corp. 0.18% 7,197 $1.9M No change
NTRS Northern Trust Corp. 0.18% 18,457 $1.9M Add +0.0%
FISV Fiserv Inc. 0.17% 8,960 $1.8M Reduce -0.3%
RTX RTX Corp. 0.16% 14,523 $1.7M Add +0.0%
QSR Restaurant Brands Intern 0.15% 25,030 $1.6M No change
FLOT iShares Floating Rate Bond E 0.14% 30,284 $1.5M Reduce -10.0%
ORCL Oracle Corp. 0.13% 8,306 $1.4M New
CVS CVS Health Corp. 0.12% 29,248 $1.3M Reduce -14.3%
FE Firstenergy Corp. 0.12% 32,600 $1.3M No change
SCHB Schwab US Broad Market ETF 0.12% 56,693 $1.3M Reduce -2.3%
MKTX Marketaxess Holdings Inc. 0.12% 5,503 $1.2M No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.12% 5,558 $1.2M Add +81.0%
BLE BlackRock Muni Inc. TR II 0.11% 116,159 $1.2M New
PM Philip Morris International 0.11% 9,734 $1.2M Add +153.8%
UNP Union Pacific Corp. 0.10% 4,763 $1.1M New
OKE Oneok Inc. 0.10% 10,718 $1.1M Reduce -0.9%
GSK GSK PLC-Spon ADR 0.10% 30,875 $1.0M No change
FANG Diamondback Energy Inc. 0.10% 6,320 $1.0M Reduce -1.5%
AVGO Broadcom Inc. 0.10% 4,427 $1.0M Reduce -5.2%
WM Waste Management Inc. 0.09% 4,937 $996K Add +163.7%
SPY SS SPDR S&P 500 ETF Trust-US 0.09% 1,688 $989K Add +3.6%
MAIN Main Street Capital Corp. 0.09% 16,692 $978K Add +3.5%
GIS General Mills Inc. 0.09% 14,815 $945K No change
XMVTX BlackRock Munivest Fund II 0.09% 88,236 $931K New
COP Conocophillips 0.09% 9,314 $924K Add +8.8%
ABBV Abbvie Inc. 0.09% 5,119 $910K Add +8.8%
FFIN First Finl Bankshares Inc. 0.08% 24,870 $897K No change
FRD Friedman Industries 0.08% 53,846 $823K Add +3.3%
NUV Nuveen Municipal Value 0.08% 93,793 $806K New
CRGY Crescent Energy Inc. Class A 0.07% 52,759 $771K Reduce -4.0%
RF Regions Financial Corp. 0.07% 32,700 $769K No change
NBH Neuberger Municipal Fund Inc. 0.07% 73,065 $756K New
BA The Boeing Co. 0.06% 3,875 $686K New
COST Costco Wholesale Corp. 0.06% 748 $686K Reduce -11.8%
BIP Brookfield Infrastructure Pa 0.06% 21,176 $673K Add +0.3%
REGN Regeneron Pharmaceuticals 0.06% 866 $617K New
GILD Gilead Sciences Inc. 0.06% 6,540 $604K Add +109.3%
EMR Emerson Electric Co. 0.05% 4,200 $521K New
BMY Bristol-Myers Squibb Co. 0.05% 8,573 $485K Add +27.7%
ISRG Intuitive Surgical Inc. 0.04% 862 $450K No change
MO Altria Group Inc. 0.04% 8,581 $449K Add +15.1%
NVT Nvent Electric PLC 0.04% 6,534 $445K New
IBOC International Bancshares CRP 0.04% 6,985 $441K No change
VOO Vanguard S&P 500 ETF 0.04% 746 $402K Add +78.5%
OXY Occidental Petroleum Corp. 0.04% 8,100 $400K New
PAA Plains All Amer Pipeline LP 0.03% 21,697 $371K Add +0.1%
ARLP Alliance Resource Partners 0.03% 14,000 $368K New
BNS Bank of Nova Scotia filed as BANK NOVA SCOTIA HALIFAX 0.03% 6,420 $345K Add +36.6%
PSX Phillips 66 0.03% 2,975 $339K Add +2.6%
TSLA Tesla Inc. 0.03% 835 $337K Reduce -17.6%
TXN Texas Instruments Inc. 0.03% 1,774 $333K Add +5.0%
STZ Constellation Brands Inc. Class A 0.03% 1,438 $318K Add +77.5%
IBTX Independent Bank Group Inc. 0.03% 5,095 $309K Add +0.0%
HSY The Hershey Co. 0.03% 1,769 $300K New
THO Thor Industries Inc. 0.03% 2,975 $285K Reduce -15.4%
QQQ Invesco QQQ Trust Series 1 0.03% 532 $272K Add +11.8%
VHT Vanguard Health Care ETF 0.03% 1,061 $269K No change
MRVL Marvell Technology Inc. 0.02% 2,400 $265K New
NFLX Netflix Inc. 0.02% 297 $265K New
MMM 3M Co. 0.02% 2,043 $264K Add +3.6%
VGT Vanguard Info Tech ETF 0.02% 404 $251K No change
BRO Brown & Brown Inc. 0.02% 2,458 $251K New
VOX Vanguard Communication Servi 0.02% 1,575 $244K No change
VCIT Vanguard Int-Term Corporate 0.02% 3,037 $244K Reduce -6.2%
CRK Comstock Resources Inc. 0.02% 13,000 $237K Reduce -18.8%
CBZ Cbiz Inc. 0.02% 2,871 $235K New
CADE Cadence Bank 0.02% 6,540 $225K New
CRWD CrowdStrike Holdings Inc. Class A 0.02% 640 $219K New
PR Permian Resources Corp. Class A 0.02% 14,775 $212K Add +0.7%
SO The Southern Co. 0.02% 2,575 $212K New
AR Antero Resources Corp. 0.02% 6,000 $210K New
SWKS Skyworks Solutions Inc. 0.02% 2,363 $210K Reduce -46.8%
DVN Devon Energy Corp. 0.02% 6,321 $207K New
TRGP Targa Resources Corp. 0.02% 1,133 $202K New
IESC Ies Holdings Inc. filed as IES HLDGS INC 0.02% 1,000 $201K New
IIM Invesco Value Municipal Inco 0.02% 13,697 $163K New
SLNG Stabilis Solutions Inc. 0.01% 28,182 $151K No change
REI Ring Energy Inc. 0.00% 25,061 $34K Reduce -7.4%

Portfolio Sells Q3 2024 → Q4 2024
META Meta Platforms Inc. Class A Reduce -5.1% 5.88% −0.39
NEE Nextera Energy Inc. Reduce -0.9% 1.44% −0.33
DEO Diageo PLC-Sponsored ADR Reduce -49.7% 0.21% −0.27
XOM Exxon Mobil Corp. Reduce -2.7% 1.58% −0.25
LLY Eli Lilly & Co. Reduce -3.7% 1.04% −0.24
LOW Lowe's Cos Inc. Reduce -2.2% 1.49% −0.24
CAT Caterpillar Inc. Reduce -0.8% 1.87% −0.23
DHI D.R. Horton Inc. Reduce -6.4% 0.43% −0.22
NKE Nike Inc. Class B Reduce -23.2% 0.36% −0.21
EXP Eagle Materials Inc. Reduce -1.8% 0.90% −0.21
CB Chubb Ltd. Reduce -0.4% 2.38% −0.20
IFF Intl Flavors & Fragrances Sold out 0.00% −0.16
EOG EOG Resources Inc. Reduce -9.6% 1.05% −0.16
URI United Rentals Inc. Reduce -2.9% 0.63% −0.14
CTAS Cintas Corp. Reduce -3.6% 0.62% −0.13
BHP BHP Group Ltd.-Spon ADR Reduce -5.4% 0.25% −0.10
CVS CVS Health Corp. Reduce -14.3% 0.12% −0.09
DHR Danaher Corp. Reduce -1.3% 0.27% −0.07
MRK Merck & Co. Inc. Reduce -8.1% 0.26% −0.07
WELL Welltower Inc. Reduce -6.8% 0.50% −0.06
ACN Accenture PLC Class A Reduce -1.7% 1.00% −0.06
SWKS Skyworks Solutions Inc. Reduce -46.8% 0.02% −0.02
FDX FedEx Corp. Reduce -0.5% 1.80% −0.02
FLOT iShares Floating Rate Bond E Reduce -10.0% 0.14% −0.02
ALGN Align Technology Inc. Sold out 0.00% −0.02
LRCX Lam Research Corp. Sold out 0.00% −0.02
SCHO Schwab Short-Term US Treas Sold out 0.00% −0.02
PAYX Paychex Inc. Reduce -2.5% 1.09% −0.02
ENLC Enlink Midstream LLC Sold out 0.00% −0.01
THO Thor Industries Inc. Reduce -15.4% 0.03% −0.01
FANG Diamondback Energy Inc. Reduce -1.5% 0.10% −0.01
COST Costco Wholesale Corp. Reduce -11.8% 0.06% −0.01
SCHB Schwab US Broad Market ETF Reduce -2.3% 0.12% −0.00
TJX TJX Companies Inc. Reduce -1.1% 0.23% −0.00
VCIT Vanguard Int-Term Corporate Reduce -6.2% 0.02% −0.00
REI Ring Energy Inc. Reduce -7.4% 0.00% −0.00
WDAY Workday Inc. Class A Reduce -2.2% 0.41% −0.00
GPN Global Payments Inc. Reduce -5.1% 0.86% +0.00
ENB Enbridge Inc. Reduce -0.1% 0.55% +0.00
CRK Comstock Resources Inc. Reduce -18.8% 0.02% +0.00
STEL Stellar Bancorp Inc. Reduce -4.4% 0.44% +0.00
OKE Oneok Inc. Reduce -0.9% 0.10% +0.01
CAH Cardinal Health Inc. Reduce -2.4% 0.66% +0.01
TSLA Tesla Inc. Reduce -17.6% 0.03% +0.01
CRGY Crescent Energy Inc. Class A Reduce -4.0% 0.07% +0.01
FISV Fiserv Inc. Reduce -0.3% 0.17% +0.02
AVGO Broadcom Inc. Reduce -5.2% 0.10% +0.02
CFR Cullen/Frost Bankers Inc. Reduce -6.0% 0.35% +0.03
NOW ServiceNow Inc. Reduce -4.4% 0.39% +0.03
DIS The Walt Disney Co. Reduce -2.7% 0.66% +0.05

Portfolio Buys Q3 2024 → Q4 2024
GOOG Alphabet Inc. Class C Add +5.0% 4.62% +0.62
AMZN Amazon.com Inc. Add +1.9% 4.35% +0.60
EQT Eqt Corp. Add +2.0% 1.46% +0.28
BRK.A Berkshire Hathaway Inc. Class A New 0.26% +0.26
BKNG Booking Holdings Inc. Add +1.2% 1.90% +0.25
BFK BlackRock Municipal Inc. TRST New 0.24% +0.24
GOOGL Alphabet Inc. Class A Add +58.1% 0.51% +0.22
CRM Salesforce Inc. Add +1.3% 0.96% +0.16
NVDA Nvidia Corp. Add +5.1% 1.41% +0.15
HD Home Depot Inc. Add +109.8% 0.30% +0.15
ORCL Oracle Corp. New 0.13% +0.13
BLE BlackRock Muni Inc. TR II New 0.11% +0.11
UNP Union Pacific Corp. New 0.10% +0.10
XMVTX BlackRock Munivest Fund II New 0.09% +0.09
NUV Nuveen Municipal Value New 0.08% +0.08
ABT Abbott Laboratories Add +13.5% 0.90% +0.07
NBH Neuberger Municipal Fund Inc. New 0.07% +0.07
EPD Enterprise Products Partners Add +34.7% 0.25% +0.07
ZTS Zoetis Inc. Add +90.4% 0.20% +0.07
CSCO Cisco Systems Inc. Add +14.2% 0.36% +0.07
PM Philip Morris International Add +153.8% 0.11% +0.06
BA The Boeing Co. New 0.06% +0.06
MA Mastercard Inc. Class A Add +1.8% 1.25% +0.06
REGN Regeneron Pharmaceuticals New 0.06% +0.06
WM Waste Management Inc. Add +163.7% 0.09% +0.06
TSM Taiwan Semiconductor-SP ADR Add +23.4% 0.19% +0.05
EMR Emerson Electric Co. New 0.05% +0.05
IBM Intl Business Machines Corp. Add +81.0% 0.12% +0.05
ADBE Adobe Inc. Add +30.2% 0.61% +0.05
NVT Nvent Electric PLC New 0.04% +0.04
OXY Occidental Petroleum Corp. New 0.04% +0.04
PFE Pfizer Inc. Add +16.5% 1.22% +0.04
PEP Pepsico Inc. Add +18.5% 1.52% +0.04
VRSK Verisk Analytics Inc. Add +9.4% 0.44% +0.03
ENTG Entegris Inc. Add +35.6% 0.26% +0.03
ARLP Alliance Resource Partners New 0.03% +0.03
LAZ Lazard Inc. Add +15.6% 0.26% +0.03
GILD Gilead Sciences Inc. Add +109.3% 0.06% +0.03
LMT Lockheed Martin Corp. Add +46.0% 0.21% +0.03
HSY The Hershey Co. New 0.03% +0.03
V Visa Inc. Class A Add +0.0% 0.26% +0.03
MRVL Marvell Technology Inc. New 0.02% +0.02
NFLX Netflix Inc. New 0.02% +0.02
CNI Canadian Natl Railway Co. Add +23.1% 0.84% +0.02
BRO Brown & Brown Inc. New 0.02% +0.02
CBZ Cbiz Inc. New 0.02% +0.02
WTW Willis Towers Watson PLC Add +2.5% 0.43% +0.02
CADE Cadence Bank New 0.02% +0.02
CRWD CrowdStrike Holdings Inc. Class A New 0.02% +0.02
SO The Southern Co. New 0.02% +0.02

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 181$1.3BGOOG, META, AMZN, MSFT, AMAT
Q1 2026 177$1.2BGOOG, META, AMZN, MSFT, AAPL
Q4 2025 174$1.2BGOOG, META, MSFT, AMZN, AAPL
Q3 2025 168$1.2BMETA, GOOG, MSFT, AMZN, AAPL
Q2 2025 173$1.1BMETA, MSFT, AMZN, GOOG, AAPL
Q1 2025 162$1.0BMETA, MSFT, GOOG, AMZN, AAPL
Q4 2024 166$1.1BMETA, MSFT, GOOG, AMZN, AAPL
Q3 2024 144$1.0BMETA, MSFT, GOOG, AAPL, AMZN
Q2 2024 146$961.8MMETA, MSFT, GOOG, AMZN, AAPL
Q1 2024 144$953.5MMETA, MSFT, GOOG, AMZN, AAPL