Callahan Advisors, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 1, 2025), Callahan Advisors, LLC reported 162 stock positions worth $1.0 billion. Its top holding was Meta Platforms Class A (META) at 5.7% of the portfolio, followed by Microsoft (MSFT, 4.5%) and Alphabet Class C (GOOG, 3.9%). Compared with Q4 2024, it opened 9 new positions, sold out of 13, added to 78 and reduced 57. The biggest buy was Johnson & Johnson (JNJ, shares +2%) and the biggest sale Apple (AAPL, shares −5%).
- Most Recent 13F
- Q2 2026
- Location
- Houston, TX
- CIK
- 0001395055
- Portfolio Value
- $1.0B (Q1 2025)
- SEC Filing
- 0001140361-25-016719 ↗ filed May 1, 2025
Holdings Value
Holdings 162 stocks · $1.0B
| META Meta Platforms Inc. Class A | 5.65% | 102,937 | $59.3M | Reduce -3.5% |
| MSFT Microsoft Corp. | 4.46% | 124,702 | $46.8M | Add +1.4% |
| GOOG Alphabet Inc. Class C | 3.95% | 265,152 | $41.4M | Add +2.8% |
| AMZN Amazon.com Inc. | 3.92% | 216,442 | $41.2M | Add +2.7% |
| AAPL Apple Inc. | 3.44% | 162,656 | $36.1M | Reduce -4.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.96% | 58,408 | $31.1M | Reduce -3.8% |
| CB Chubb Ltd. | 2.64% | 91,590 | $27.7M | Add +0.0% |
| BN Brookfield Corp. | 2.36% | 473,221 | $24.8M | Reduce -0.1% |
| JPM JPMorgan Chase & Co. | 2.35% | 100,543 | $24.7M | Reduce -7.0% |
| UNH Unitedhealth Group Inc. | 2.34% | 46,858 | $24.5M | Add +6.9% |
| JNJ Johnson & Johnson | 1.98% | 125,052 | $20.7M | Add +1.9% |
| BKNG Booking Holdings Inc. | 1.93% | 4,388 | $20.2M | Add +8.0% |
| PEP Pepsico Inc. | 1.81% | 126,941 | $19.0M | Add +19.9% |
| MCD McDonald's Corp. | 1.79% | 60,175 | $18.8M | Add +0.6% |
| SYK Stryker Corp. | 1.75% | 49,410 | $18.4M | Reduce -2.9% |
| CAT Caterpillar Inc. | 1.72% | 54,657 | $18.0M | Reduce -0.4% |
| XOM Exxon Mobil Corp. | 1.71% | 150,810 | $17.9M | Reduce -3.5% |
| PG The Procter & Gamble Co. | 1.69% | 103,980 | $17.7M | Add +10.9% |
| FDX FedEx Corp. | 1.65% | 70,875 | $17.3M | Add +4.2% |
| CVX Chevron Corp. | 1.64% | 102,600 | $17.2M | Reduce -6.5% |
| EQT Eqt Corp. | 1.59% | 311,658 | $16.7M | Reduce -7.2% |
| NEE Nextera Energy Inc. | 1.55% | 230,164 | $16.3M | Add +7.5% |
| WMT Walmart Inc. | 1.44% | 172,612 | $15.2M | Reduce -14.9% |
| PFE Pfizer Inc. | 1.39% | 575,497 | $14.6M | Add +17.9% |
| MA Mastercard Inc. Class A | 1.37% | 26,307 | $14.4M | Add +4.1% |
| LOW Lowe's Cos Inc. | 1.37% | 61,775 | $14.4M | Reduce -3.8% |
| NVDA Nvidia Corp. | 1.31% | 127,162 | $13.8M | Add +13.7% |
| LLY Eli Lilly & Co. | 1.31% | 16,660 | $13.8M | Add +16.2% |
| FTNT Fortinet Inc. | 1.25% | 136,496 | $13.1M | Reduce -2.3% |
| PAYX Paychex Inc. | 1.12% | 76,386 | $11.8M | Reduce -7.7% |
| CNI Canadian Natl Railway Co. | 1.08% | 115,874 | $11.3M | Add +32.5% |
| ABT Abbott Laboratories | 1.06% | 84,153 | $11.2M | Reduce -0.3% |
| AMAT Applied Materials Inc. | 1.05% | 75,676 | $11.0M | Add +0.5% |
| KMI Kinder Morgan Inc. | 1.02% | 374,009 | $10.7M | Reduce -18.9% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.91% | 228,188 | $9.5M | Reduce -9.1% |
| EXP Eagle Materials Inc. | 0.91% | 42,838 | $9.5M | Add +10.6% |
| STE Steris PLC | 0.89% | 41,376 | $9.4M | Add +7.3% |
| CTVA Corteva Inc. | 0.84% | 140,552 | $8.8M | Reduce -3.4% |
| EOG EOG Resources Inc. | 0.83% | 68,003 | $8.7M | Reduce -25.2% |
| T AT&T Inc. | 0.81% | 300,916 | $8.5M | Reduce -15.0% |
| ACN Accenture PLC Class A | 0.81% | 27,088 | $8.5M | Reduce -10.3% |
| CRM Salesforce Inc. | 0.80% | 31,434 | $8.4M | Add +3.5% |
| GPN Global Payments Inc. | 0.74% | 79,555 | $7.8M | Reduce -2.9% |
| ADBE Adobe Inc. | 0.72% | 19,620 | $7.5M | Add +34.7% |
| CAH Cardinal Health Inc. | 0.68% | 52,067 | $7.2M | Reduce -12.2% |
| URI United Rentals Inc. | 0.68% | 11,320 | $7.1M | Add +18.2% |
| CTAS Cintas Corp. | 0.66% | 33,619 | $6.9M | Reduce -6.7% |
| ASML ASML Holding NV-NY Reg SHS | 0.64% | 10,144 | $6.7M | Add +39.1% |
| WELL Welltower Inc. | 0.62% | 42,723 | $6.5M | Add +0.7% |
| IQV Iqvia Holdings Inc. | 0.62% | 37,107 | $6.5M | Add +3.9% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.57% | 60,339 | $6.0M | Reduce -4.1% |
| WTW Willis Towers Watson PLC | 0.54% | 16,729 | $5.7M | Add +13.5% |
| ENB Enbridge Inc. | 0.54% | 126,972 | $5.6M | Reduce -8.2% |
| ETN Eaton Corp. PLC | 0.53% | 20,557 | $5.6M | Add +5.6% |
| DY Dycom Industries Inc. | 0.52% | 35,926 | $5.5M | Add +14.2% |
| VRSK Verisk Analytics Inc. | 0.50% | 17,544 | $5.2M | Add +3.2% |
| GOOGL Alphabet Inc. Class A | 0.46% | 31,447 | $4.9M | Add +9.7% |
| AXP American Express Co. | 0.46% | 17,826 | $4.8M | Add +0.0% |
| STEL Stellar Bancorp Inc. | 0.44% | 166,731 | $4.6M | Add +0.0% |
| TRI Thomson Reuters Corp. | 0.43% | 26,314 | $4.5M | No change |
| PAYC Paycom Software Inc. | 0.42% | 20,040 | $4.4M | No change |
| CSCO Cisco Systems Inc. | 0.41% | 70,439 | $4.3M | Add +7.5% |
| PLD Prologis Inc. | 0.40% | 37,072 | $4.1M | Add +33.3% |
| WDAY Workday Inc. Class A | 0.37% | 16,418 | $3.8M | Reduce -2.1% |
| KO The Coca-Cola Co. | 0.37% | 53,521 | $3.8M | Add +1.7% |
| ENTG Entegris Inc. | 0.33% | 39,697 | $3.5M | Add +41.6% |
| CFR Cullen/Frost Bankers Inc. | 0.32% | 26,995 | $3.4M | Reduce -3.5% |
| DHI D.R. Horton Inc. | 0.31% | 25,965 | $3.3M | Reduce -20.8% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.30% | 4 | $3.2M | No change |
| V Visa Inc. Class A | 0.30% | 8,879 | $3.1M | No change |
| SBUX Starbucks Corp. | 0.30% | 31,628 | $3.1M | Reduce -14.0% |
| NOW ServiceNow Inc. | 0.30% | 3,895 | $3.1M | Reduce -0.5% |
| HD Home Depot Inc. | 0.29% | 8,409 | $3.1M | Add +1.5% |
| NKE Nike Inc. Class B | 0.29% | 48,317 | $3.1M | Reduce -5.7% |
| EPD Enterprise Products Partners | 0.29% | 88,342 | $3.0M | Add +5.4% |
| BF.B Brown-Forman Corp. Class B | 0.28% | 86,649 | $2.9M | New |
| HSY The Hershey Co. | 0.26% | 15,856 | $2.7M | Add +796.3% |
| SKWD Skyward Specialty Insurance | 0.25% | 50,254 | $2.7M | No change |
| DHR Danaher Corp. | 0.25% | 12,599 | $2.6M | Reduce -0.9% |
| BFK BlackRock Municipal Inc. TRST | 0.24% | 255,951 | $2.5M | Add +0.3% |
| LAZ Lazard Inc. | 0.24% | 57,801 | $2.5M | Add +9.1% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.24% | 20,502 | $2.5M | Add +3.0% |
| BHP BHP Group Ltd.-Spon ADR | 0.23% | 50,700 | $2.5M | Reduce -7.2% |
| MRK Merck & Co. Inc. | 0.23% | 26,738 | $2.4M | Reduce -3.3% |
| ZTS Zoetis Inc. | 0.23% | 14,388 | $2.4M | Add +9.8% |
| UL Unilever PLC | 0.21% | 37,600 | $2.2M | Reduce -18.4% |
| CVS CVS Health Corp. | 0.21% | 32,365 | $2.2M | Add +10.7% |
| PM Philip Morris International | 0.19% | 12,801 | $2.0M | Add +31.5% |
| TSM Taiwan Semiconductor-SP ADR | 0.19% | 12,237 | $2.0M | Add +18.6% |
| FISV Fiserv Inc. | 0.19% | 8,910 | $2.0M | Reduce -0.6% |
| DEO Diageo PLC-Sponsored ADR | 0.19% | 18,719 | $2.0M | Add +5.6% |
| GD General Dynamics Corp. | 0.19% | 7,147 | $1.9M | Reduce -0.7% |
| RTX RTX Corp. | 0.18% | 14,524 | $1.9M | Add +0.0% |
| NTRS Northern Trust Corp. | 0.18% | 19,492 | $1.9M | Add +5.6% |
| LMT Lockheed Martin Corp. | 0.16% | 3,873 | $1.7M | Reduce -16.1% |
| QSR Restaurant Brands Intern | 0.16% | 25,030 | $1.7M | No change |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.15% | 6,171 | $1.5M | Add +11.0% |
| FLOT iShares Floating Rate Bond E | 0.14% | 28,569 | $1.5M | Reduce -5.7% |
| DOW Dow Inc. | 0.13% | 38,756 | $1.4M | Reduce -24.1% |
| SCHB Schwab US Broad Market ETF | 0.13% | 61,813 | $1.3M | Add +9.0% |
Portfolio Sells Q4 2024 → Q1 2025
| AAPL Apple Inc. | Reduce -4.5% | 3.44% | −0.57 |
| WMT Walmart Inc. | Reduce -14.9% | 1.44% | −0.28 |
| META Meta Platforms Inc. Class A | Reduce -3.5% | 5.65% | −0.23 |
| EOG EOG Resources Inc. | Reduce -25.2% | 0.83% | −0.22 |
| BN Brookfield Corp. | Reduce -0.1% | 2.36% | −0.20 |
| ACN Accenture PLC Class A | Reduce -10.3% | 0.81% | −0.19 |
| KMI Kinder Morgan Inc. | Reduce -18.9% | 1.02% | −0.17 |
| CAT Caterpillar Inc. | Reduce -0.4% | 1.72% | −0.16 |
| GPN Global Payments Inc. | Reduce -2.9% | 0.74% | −0.12 |
| LOW Lowe's Cos Inc. | Reduce -3.8% | 1.37% | −0.12 |
| DHI D.R. Horton Inc. | Reduce -20.8% | 0.31% | −0.12 |
| GSK GSK PLC-Spon ADR | Sold out | 0.00% | −0.10 |
| NOW ServiceNow Inc. | Reduce -0.5% | 0.30% | −0.10 |
| DIS The Walt Disney Co. | Reduce -4.1% | 0.57% | −0.09 |
| GIS General Mills Inc. | Sold out | 0.00% | −0.09 |
| JPM JPMorgan Chase & Co. | Reduce -7.0% | 2.35% | −0.09 |
| NKE Nike Inc. Class B | Reduce -5.7% | 0.29% | −0.07 |
| ORCL Oracle Corp. | Reduce -45.2% | 0.06% | −0.07 |
| BA The Boeing Co. | Sold out | 0.00% | −0.06 |
| DOW Dow Inc. | Reduce -24.1% | 0.13% | −0.06 |
| LMT Lockheed Martin Corp. | Reduce -16.1% | 0.16% | −0.05 |
| NVT Nvent Electric PLC | Sold out | 0.00% | −0.04 |
| WDAY Workday Inc. Class A | Reduce -2.1% | 0.37% | −0.04 |
| AVGO Broadcom Inc. | Reduce -14.4% | 0.06% | −0.04 |
| UL Unilever PLC | Reduce -18.4% | 0.21% | −0.03 |
| CFR Cullen/Frost Bankers Inc. | Reduce -3.5% | 0.32% | −0.03 |
| MRK Merck & Co. Inc. | Reduce -3.3% | 0.23% | −0.03 |
| IBTX Independent Bank Group Inc. | Sold out | 0.00% | −0.03 |
| DHR Danaher Corp. | Reduce -0.9% | 0.25% | −0.03 |
| THO Thor Industries Inc. | Sold out | 0.00% | −0.03 |
| MRVL Marvell Technology Inc. | Sold out | 0.00% | −0.02 |
| VGT Vanguard Info Tech ETF | Sold out | 0.00% | −0.02 |
| CRK Comstock Resources Inc. | Sold out | 0.00% | −0.02 |
| CBZ Cbiz Inc. | Sold out | 0.00% | −0.02 |
| CADE Cadence Bank | Sold out | 0.00% | −0.02 |
| XMVTX BlackRock Munivest Fund II | Reduce -24.5% | 0.07% | −0.02 |
| SBUX Starbucks Corp. | Reduce -14.0% | 0.30% | −0.02 |
| SWKS Skyworks Solutions Inc. | Sold out | 0.00% | −0.02 |
| IESC Ies Holdings Inc. | Sold out | 0.00% | −0.02 |
| BHP BHP Group Ltd.-Spon ADR | Reduce -7.2% | 0.23% | −0.02 |
| ENB Enbridge Inc. | Reduce -8.2% | 0.54% | −0.02 |
| BNS Bank of Nova Scotia | Reduce -23.7% | 0.02% | −0.01 |
| EMR Emerson Electric Co. | Reduce -10.7% | 0.04% | −0.01 |
| GILD Gilead Sciences Inc. | Reduce -28.9% | 0.05% | −0.01 |
| FLOT iShares Floating Rate Bond E | Reduce -5.7% | 0.14% | −0.01 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -13.0% | 0.02% | −0.00 |
| PSX Phillips 66 | Reduce -20.3% | 0.03% | −0.00 |
| MKTX Marketaxess Holdings Inc. | Reduce -0.1% | 0.11% | −0.00 |
| FRD Friedman Industries | Reduce -3.3% | 0.07% | −0.00 |
| COP Conocophillips | Reduce -9.1% | 0.08% | −0.00 |
Portfolio Buys Q4 2024 → Q1 2025
| JNJ Johnson & Johnson | Add +1.9% | 1.98% | +0.31 |
| PEP Pepsico Inc. | Add +19.9% | 1.81% | +0.30 |
| BF.B Brown-Forman Corp. Class B | New | 0.28% | +0.28 |
| LLY Eli Lilly & Co. | Add +16.2% | 1.31% | +0.27 |
| CB Chubb Ltd. | Add +0.0% | 2.64% | +0.26 |
| UNH Unitedhealth Group Inc. | Add +6.9% | 2.34% | +0.25 |
| CNI Canadian Natl Railway Co. | Add +32.5% | 1.08% | +0.24 |
| HSY The Hershey Co. | Add +796.3% | 0.26% | +0.23 |
| PG The Procter & Gamble Co. | Add +10.9% | 1.69% | +0.21 |
| PFE Pfizer Inc. | Add +17.9% | 1.39% | +0.17 |
| ASML ASML Holding NV-NY Reg SHS | Add +39.1% | 0.64% | +0.16 |
| MCD McDonald's Corp. | Add +0.6% | 1.79% | +0.16 |
| STE Steris PLC | Add +7.3% | 0.89% | +0.15 |
| MA Mastercard Inc. Class A | Add +4.1% | 1.37% | +0.12 |
| WELL Welltower Inc. | Add +0.7% | 0.62% | +0.12 |
| PLD Prologis Inc. | Add +33.3% | 0.40% | +0.12 |
| NEE Nextera Energy Inc. | Add +7.5% | 1.55% | +0.11 |
| ADBE Adobe Inc. | Add +34.7% | 0.72% | +0.11 |
| WTW Willis Towers Watson PLC | Add +13.5% | 0.54% | +0.10 |
| CVS CVS Health Corp. | Add +10.7% | 0.21% | +0.09 |
| PM Philip Morris International | Add +31.5% | 0.19% | +0.08 |
| ENTG Entegris Inc. | Add +41.6% | 0.33% | +0.07 |
| KO The Coca-Cola Co. | Add +1.7% | 0.37% | +0.06 |
| VRSK Verisk Analytics Inc. | Add +3.2% | 0.50% | +0.06 |
| CSCO Cisco Systems Inc. | Add +7.5% | 0.41% | +0.05 |
| XBKNX BlackRock Invest QLTY Muni | New | 0.04% | +0.04 |
| URI United Rentals Inc. | Add +18.2% | 0.68% | +0.04 |
| EPD Enterprise Products Partners | Add +5.4% | 0.29% | +0.04 |
| ARCC Ares Capital Corp. | New | 0.04% | +0.04 |
| IBM Intl Business Machines Corp. | Add +11.0% | 0.15% | +0.03 |
| ABBV Abbvie Inc. | Add +11.9% | 0.11% | +0.03 |
| SSB Southstate Bank Corp. | New | 0.03% | +0.03 |
| O Realty Income Corp. | New | 0.03% | +0.03 |
| WM Waste Management Inc. | Add +10.2% | 0.12% | +0.03 |
| BKNG Booking Holdings Inc. | Add +8.0% | 1.93% | +0.03 |
| RTX RTX Corp. | Add +0.0% | 0.18% | +0.03 |
| ZTS Zoetis Inc. | Add +9.8% | 0.23% | +0.02 |
| GLD SPDR Gold Shares | New | 0.02% | +0.02 |
| BX Blackstone Inc. | New | 0.02% | +0.02 |
| MO Altria Group Inc. | Add +29.7% | 0.06% | +0.02 |
| SCCO Southern Copper Corp. | New | 0.02% | +0.02 |
| DLTR Dollar Tree Inc. | New | 0.02% | +0.02 |
| UNP Union Pacific Corp. | Add +11.0% | 0.12% | +0.02 |
| OKE Oneok Inc. | Add +12.6% | 0.11% | +0.01 |
| TJX TJX Companies Inc. | Add +3.0% | 0.24% | +0.01 |
| EXP Eagle Materials Inc. | Add +10.6% | 0.91% | +0.01 |
| STZ Constellation Brands Inc. Class A | Add +44.9% | 0.04% | +0.01 |
| PAA Plains All Amer Pipeline LP | Add +0.1% | 0.04% | +0.01 |
| DY Dycom Industries Inc. | Add +14.2% | 0.52% | +0.01 |
| NFLX Netflix Inc. | Add +18.5% | 0.03% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 181 | $1.3B | GOOG, META, AMZN, MSFT, AMAT |
| Q1 2026 | 177 | $1.2B | GOOG, META, AMZN, MSFT, AAPL |
| Q4 2025 | 174 | $1.2B | GOOG, META, MSFT, AMZN, AAPL |
| Q3 2025 | 168 | $1.2B | META, GOOG, MSFT, AMZN, AAPL |
| Q2 2025 | 173 | $1.1B | META, MSFT, AMZN, GOOG, AAPL |
| Q1 2025 | 162 | $1.0B | META, MSFT, GOOG, AMZN, AAPL |
| Q4 2024 | 166 | $1.1B | META, MSFT, GOOG, AMZN, AAPL |
| Q3 2024 | 144 | $1.0B | META, MSFT, GOOG, AAPL, AMZN |
| Q2 2024 | 146 | $961.8M | META, MSFT, GOOG, AMZN, AAPL |
| Q1 2024 | 144 | $953.5M | META, MSFT, GOOG, AMZN, AAPL |