Callahan Advisors, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 28, 2025), Callahan Advisors, LLC reported 173 stock positions worth $1.1 billion. Its top holding was Meta Platforms Class A (META) at 6.8% of the portfolio, followed by Microsoft (MSFT, 5.6%) and Amazon.com (AMZN, 4.4%). Compared with Q1 2025, it opened 15 new positions, sold out of 4, added to 73 and reduced 59. The biggest buy was Nvidia (NVDA, shares +17%) and the biggest sale Apple (AAPL, shares −8%).
- Most Recent 13F
- Q2 2026
- Location
- Houston, TX
- CIK
- 0001395055
- Portfolio Value
- $1.1B (Q2 2025)
- SEC Filing
- 0001140361-25-027574 ↗ filed Jul 28, 2025
Holdings Value
Holdings 173 stocks · $1.1B
| META Meta Platforms Inc. Class A | 6.79% | 102,361 | $75.6M | Reduce -0.6% |
| MSFT Microsoft Corp. | 5.57% | 124,628 | $62.0M | Reduce -0.1% |
| AMZN Amazon.com Inc. | 4.37% | 221,392 | $48.6M | Add +2.3% |
| GOOG Alphabet Inc. Class C | 4.34% | 272,430 | $48.3M | Add +2.7% |
| AAPL Apple Inc. | 2.77% | 150,224 | $30.8M | Reduce -7.6% |
| BN Brookfield Corp. | 2.67% | 480,998 | $29.7M | Add +1.6% |
| JPM JPMorgan Chase & Co. | 2.58% | 99,012 | $28.7M | Reduce -1.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.55% | 58,379 | $28.4M | Reduce -0.1% |
| CB Chubb Ltd. | 2.44% | 93,676 | $27.1M | Add +2.3% |
| BKNG Booking Holdings Inc. | 2.32% | 4,453 | $25.8M | Add +1.5% |
| NVDA Nvidia Corp. | 2.12% | 149,212 | $23.6M | Add +17.3% |
| CAT Caterpillar Inc. | 1.92% | 55,162 | $21.4M | Add +0.9% |
| NEE Nextera Energy Inc. | 1.87% | 299,948 | $20.8M | Add +30.3% |
| SYK Stryker Corp. | 1.75% | 49,179 | $19.5M | Reduce -0.5% |
| JNJ Johnson & Johnson | 1.70% | 123,488 | $18.9M | Reduce -1.3% |
| EQT Eqt Corp. | 1.64% | 313,757 | $18.3M | Add +0.7% |
| PEP Pepsico Inc. | 1.55% | 130,514 | $17.2M | Add +2.8% |
| MCD McDonald's Corp. | 1.53% | 58,091 | $17.0M | Reduce -3.5% |
| PG The Procter & Gamble Co. | 1.52% | 106,094 | $16.9M | Add +2.0% |
| PFE Pfizer Inc. | 1.46% | 670,343 | $16.2M | Add +16.5% |
| MA Mastercard Inc. Class A | 1.44% | 28,508 | $16.0M | Add +8.4% |
| FDX FedEx Corp. | 1.39% | 68,181 | $15.5M | Reduce -3.8% |
| XOM Exxon Mobil Corp. | 1.38% | 142,241 | $15.3M | Reduce -5.7% |
| WMT Walmart Inc. | 1.37% | 155,545 | $15.2M | Reduce -9.9% |
| UNH Unitedhealth Group Inc. | 1.35% | 48,213 | $15.0M | Add +2.9% |
| FTNT Fortinet Inc. | 1.28% | 135,241 | $14.3M | Reduce -0.9% |
| AMAT Applied Materials Inc. | 1.26% | 76,740 | $14.0M | Add +1.4% |
| LLY Eli Lilly & Co. | 1.26% | 17,972 | $14.0M | Add +7.9% |
| LOW Lowe's Cos Inc. | 1.21% | 60,677 | $13.5M | Reduce -1.8% |
| CVX Chevron Corp. | 1.14% | 88,501 | $12.7M | Reduce -13.7% |
| STE Steris PLC | 1.03% | 47,806 | $11.5M | Add +15.5% |
| ABT Abbott Laboratories | 1.03% | 84,230 | $11.5M | Add +0.1% |
| CTVA Corteva Inc. | 1.00% | 150,013 | $11.2M | Add +6.7% |
| CNI Canadian Natl Railway Co. | 1.00% | 106,725 | $11.1M | Reduce -7.9% |
| PAYX Paychex Inc. | 0.97% | 74,418 | $10.8M | Reduce -2.6% |
| KMI Kinder Morgan Inc. | 0.95% | 360,173 | $10.6M | Reduce -3.7% |
| ASML ASML Holding NV-NY Reg SHS | 0.86% | 11,904 | $9.5M | Add +17.4% |
| EXP Eagle Materials Inc. | 0.81% | 44,841 | $9.1M | Add +4.7% |
| CRM Salesforce Inc. | 0.81% | 33,094 | $9.0M | Add +5.3% |
| ADBE Adobe Inc. | 0.81% | 23,219 | $9.0M | Add +18.3% |
| URI United Rentals Inc. | 0.78% | 11,584 | $8.7M | Add +2.3% |
| DY Dycom Industries Inc. | 0.77% | 34,861 | $8.5M | Reduce -3.0% |
| ETN Eaton Corp. PLC | 0.76% | 23,668 | $8.4M | Add +15.1% |
| T AT&T Inc. | 0.73% | 280,938 | $8.1M | Reduce -6.6% |
| CAH Cardinal Health Inc. | 0.72% | 47,671 | $8.0M | Reduce -8.4% |
| CTAS Cintas Corp. | 0.67% | 33,214 | $7.4M | Reduce -1.2% |
| ACN Accenture PLC Class A | 0.66% | 24,471 | $7.3M | Reduce -9.7% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.63% | 56,112 | $7.0M | Reduce -7.0% |
| IQV Iqvia Holdings Inc. | 0.62% | 43,475 | $6.9M | Add +17.2% |
| WELL Welltower Inc. | 0.61% | 44,398 | $6.8M | Add +3.9% |
| VRSK Verisk Analytics Inc. | 0.57% | 20,367 | $6.3M | Add +16.1% |
| TSM Taiwan Semiconductor-SP ADR | 0.52% | 25,567 | $5.8M | Add +108.9% |
| AXP American Express Co. | 0.51% | 17,827 | $5.7M | Add +0.0% |
| GOOGL Alphabet Inc. Class A | 0.50% | 31,517 | $5.6M | Add +0.2% |
| ENB Enbridge Inc. | 0.48% | 118,310 | $5.4M | Reduce -6.8% |
| WTW Willis Towers Watson PLC | 0.48% | 17,280 | $5.3M | Add +3.3% |
| TRI Thomson Reuters Corp. | 0.48% | 26,314 | $5.3M | No change |
| CVS CVS Health Corp. | 0.48% | 76,650 | $5.3M | Add +136.8% |
| CSCO Cisco Systems Inc. | 0.42% | 67,164 | $4.7M | Reduce -4.7% |
| PAYC Paycom Software Inc. | 0.42% | 20,040 | $4.6M | No change |
| STEL Stellar Bancorp Inc. | 0.41% | 162,732 | $4.6M | Reduce -2.4% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.38% | 125,438 | $4.2M | Reduce -45.0% |
| WDAY Workday Inc. Class A | 0.36% | 16,750 | $4.0M | Add +2.0% |
| NOW ServiceNow Inc. | 0.36% | 3,861 | $4.0M | Reduce -0.9% |
| PLD Prologis Inc. | 0.35% | 37,056 | $3.9M | Reduce -0.0% |
| KO The Coca-Cola Co. | 0.34% | 53,806 | $3.8M | Add +0.5% |
| CFR Cullen/Frost Bankers Inc. | 0.31% | 26,504 | $3.4M | Reduce -1.8% |
| EOG EOG Resources Inc. | 0.30% | 27,528 | $3.3M | Reduce -59.5% |
| V Visa Inc. Class A | 0.29% | 9,239 | $3.3M | Add +4.0% |
| NTRS Northern Trust Corp. | 0.29% | 25,065 | $3.2M | Add +28.6% |
| HD Home Depot Inc. | 0.28% | 8,437 | $3.1M | Add +0.3% |
| SKWD Skyward Specialty Insurance | 0.28% | 53,032 | $3.1M | Add +5.5% |
| ENTG Entegris Inc. | 0.27% | 36,962 | $3.0M | Reduce -6.9% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.26% | 4 | $2.9M | No change |
| ZTS Zoetis Inc. | 0.26% | 18,408 | $2.9M | Add +27.9% |
| LAZ Lazard Inc. | 0.25% | 58,960 | $2.8M | Add +2.0% |
| HSY The Hershey Co. | 0.24% | 15,856 | $2.6M | No change |
| EPD Enterprise Products Partners | 0.23% | 83,620 | $2.6M | Reduce -5.3% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.23% | 20,753 | $2.6M | Add +1.2% |
| DHR Danaher Corp. | 0.22% | 12,646 | $2.5M | Add +0.4% |
| PM Philip Morris International | 0.21% | 12,844 | $2.3M | Add +0.3% |
| BF.B Brown-Forman Corp. Class B | 0.21% | 86,649 | $2.3M | No change |
| UL Unilever PLC | 0.21% | 37,600 | $2.3M | No change |
| LMT Lockheed Martin Corp. | 0.20% | 4,697 | $2.2M | Add +21.3% |
| RTX RTX Corp. | 0.20% | 14,874 | $2.2M | Add +2.4% |
| BHP BHP Group Ltd.-Spon ADR | 0.19% | 44,273 | $2.1M | Reduce -12.7% |
| GD General Dynamics Corp. | 0.19% | 7,147 | $2.1M | No change |
| GPN Global Payments Inc. | 0.19% | 26,039 | $2.1M | Reduce -67.3% |
| MRK Merck & Co. Inc. | 0.19% | 26,090 | $2.1M | Reduce -2.4% |
| NKE Nike Inc. Class B | 0.18% | 28,300 | $2.0M | Reduce -41.4% |
| DEO Diageo PLC-Sponsored ADR | 0.16% | 18,196 | $1.8M | Reduce -2.8% |
| BFK BlackRock Municipal Inc. TRST | 0.16% | 185,048 | $1.8M | Reduce -27.7% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.16% | 5,917 | $1.7M | Reduce -4.1% |
| FLOT iShares Floating Rate Bond E | 0.15% | 33,350 | $1.7M | Add +16.7% |
| QSR Restaurant Brands Intern | 0.15% | 25,030 | $1.7M | No change |
| SBUX Starbucks Corp. | 0.15% | 18,023 | $1.7M | Reduce -43.0% |
| DHI D.R. Horton Inc. | 0.14% | 12,063 | $1.6M | Reduce -53.5% |
| SCHB Schwab US Broad Market ETF | 0.14% | 65,203 | $1.6M | Add +5.5% |
| FISV Fiserv Inc. | 0.14% | 8,910 | $1.5M | No change |
| FE Firstenergy Corp. | 0.12% | 32,600 | $1.3M | No change |
Portfolio Sells Q1 2025 → Q2 2025
| AAPL Apple Inc. | Reduce -7.6% | 2.77% | −0.67 |
| GPN Global Payments Inc. | Reduce -67.3% | 0.19% | −0.56 |
| EOG EOG Resources Inc. | Reduce -59.5% | 0.30% | −0.54 |
| SLB SLB Ltd. | Reduce -45.0% | 0.38% | −0.53 |
| CVX Chevron Corp. | Reduce -13.7% | 1.14% | −0.50 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.1% | 2.55% | −0.42 |
| XOM Exxon Mobil Corp. | Reduce -5.7% | 1.38% | −0.33 |
| JNJ Johnson & Johnson | Reduce -1.3% | 1.70% | −0.28 |
| MCD McDonald's Corp. | Reduce -3.5% | 1.53% | −0.27 |
| FDX FedEx Corp. | Reduce -3.8% | 1.39% | −0.25 |
| DHI D.R. Horton Inc. | Reduce -53.5% | 0.14% | −0.17 |
| LOW Lowe's Cos Inc. | Reduce -1.8% | 1.21% | −0.16 |
| PAYX Paychex Inc. | Reduce -2.6% | 0.97% | −0.15 |
| ACN Accenture PLC Class A | Reduce -9.7% | 0.66% | −0.15 |
| SBUX Starbucks Corp. | Reduce -43.0% | 0.15% | −0.15 |
| NKE Nike Inc. Class B | Reduce -41.4% | 0.18% | −0.11 |
| BFK BlackRock Municipal Inc. TRST | Reduce -27.7% | 0.16% | −0.08 |
| T AT&T Inc. | Reduce -6.6% | 0.73% | −0.08 |
| CNI Canadian Natl Railway Co. | Reduce -7.9% | 1.00% | −0.08 |
| WMT Walmart Inc. | Reduce -9.9% | 1.37% | −0.08 |
| NBH Neuberger Municipal Fund Inc. | Sold out | 0.00% | −0.07 |
| KMI Kinder Morgan Inc. | Reduce -3.7% | 0.95% | −0.07 |
| DOW Dow Inc. | Reduce -29.9% | 0.06% | −0.06 |
| ENTG Entegris Inc. | Reduce -6.9% | 0.27% | −0.06 |
| EPD Enterprise Products Partners | Reduce -5.3% | 0.23% | −0.05 |
| ENB Enbridge Inc. | Reduce -6.8% | 0.48% | −0.05 |
| PLD Prologis Inc. | Reduce -0.0% | 0.35% | −0.04 |
| BHP BHP Group Ltd.-Spon ADR | Reduce -12.7% | 0.19% | −0.04 |
| MRK Merck & Co. Inc. | Reduce -2.4% | 0.19% | −0.04 |
| NUV Nuveen Municipal Value | Reduce -51.3% | 0.04% | −0.04 |
| OXY Occidental Petroleum Corp. | Sold out | 0.00% | −0.04 |
| FANG Diamondback Energy Inc. | Reduce -18.8% | 0.06% | −0.03 |
| STEL Stellar Bancorp Inc. | Reduce -2.4% | 0.41% | −0.03 |
| OKE Oneok Inc. | Reduce -3.3% | 0.09% | −0.03 |
| DEO Diageo PLC-Sponsored ADR | Reduce -2.8% | 0.16% | −0.02 |
| TRGP Targa Resources Corp. | Sold out | 0.00% | −0.02 |
| SCCO Southern Copper Corp. | Sold out | 0.00% | −0.02 |
| GILD Gilead Sciences Inc. | Reduce -32.4% | 0.03% | −0.02 |
| COP Conocophillips | Reduce -0.6% | 0.07% | −0.02 |
| BLE BlackRock Muni Inc. TR II | Reduce -6.0% | 0.10% | −0.02 |
| CFR Cullen/Frost Bankers Inc. | Reduce -1.8% | 0.31% | −0.02 |
| XMVTX BlackRock Munivest Fund II | Reduce -10.3% | 0.06% | −0.01 |
| ARLP Alliance Resource Partners | Reduce -15.7% | 0.03% | −0.01 |
| EMR Emerson Electric Co. | Reduce -24.0% | 0.03% | −0.01 |
| SYK Stryker Corp. | Reduce -0.5% | 1.75% | −0.00 |
| PSX Phillips 66 | Reduce -3.2% | 0.02% | −0.00 |
| SSB Southstate Bank Corp. | Reduce -1.8% | 0.02% | −0.00 |
| IIM Invesco Value Municipal Inco | Reduce -2.1% | 0.01% | −0.00 |
| MAIN Main Street Capital Corp. | Reduce -0.2% | 0.09% | −0.00 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -30.8% | 0.02% | −0.00 |
Portfolio Buys Q1 2025 → Q2 2025
| NVDA Nvidia Corp. | Add +17.3% | 2.12% | +0.81 |
| AMZN Amazon.com Inc. | Add +2.3% | 4.37% | +0.44 |
| GOOG Alphabet Inc. Class C | Add +2.7% | 4.34% | +0.40 |
| BKNG Booking Holdings Inc. | Add +1.5% | 2.32% | +0.39 |
| TSM Taiwan Semiconductor-SP ADR | Add +108.9% | 0.52% | +0.33 |
| NEE Nextera Energy Inc. | Add +30.3% | 1.87% | +0.32 |
| BN Brookfield Corp. | Add +1.6% | 2.67% | +0.31 |
| CVS CVS Health Corp. | Add +136.8% | 0.48% | +0.27 |
| ETN Eaton Corp. PLC | Add +15.1% | 0.76% | +0.23 |
| ASML ASML Holding NV-NY Reg SHS | Add +17.4% | 0.86% | +0.22 |
| AMAT Applied Materials Inc. | Add +1.4% | 1.26% | +0.22 |
| CAT Caterpillar Inc. | Add +0.9% | 1.92% | +0.21 |
| CTVA Corteva Inc. | Add +6.7% | 1.00% | +0.16 |
| STE Steris PLC | Add +15.5% | 1.03% | +0.14 |
| URI United Rentals Inc. | Add +2.3% | 0.78% | +0.11 |
| NTRS Northern Trust Corp. | Add +28.6% | 0.29% | +0.10 |
| ADBE Adobe Inc. | Add +18.3% | 0.81% | +0.09 |
| VRSK Verisk Analytics Inc. | Add +16.1% | 0.57% | +0.07 |
| PFE Pfizer Inc. | Add +16.5% | 1.46% | +0.07 |
| MA Mastercard Inc. Class A | Add +8.4% | 1.44% | +0.07 |
| EQT Eqt Corp. | Add +0.7% | 1.64% | +0.06 |
| AXP American Express Co. | Add +0.0% | 0.51% | +0.05 |
| GOOGL Alphabet Inc. Class A | Add +0.2% | 0.50% | +0.04 |
| ZTS Zoetis Inc. | Add +27.9% | 0.26% | +0.03 |
| LMT Lockheed Martin Corp. | Add +21.3% | 0.20% | +0.03 |
| DLTR Dollar Tree Inc. | Add +103.9% | 0.05% | +0.03 |
| ORCL Oracle Corp. | Add +0.1% | 0.09% | +0.03 |
| IESC Ies Holdings Inc. | New | 0.03% | +0.03 |
| LRCX Lam Research Corp. | New | 0.02% | +0.02 |
| GE General Electric | New | 0.02% | +0.02 |
| CRK Comstock Resources Inc. | New | 0.02% | +0.02 |
| CP Canadian Pacific Kansas City | New | 0.02% | +0.02 |
| VTI VG Morningstar TS MKT ETF-US | New | 0.02% | +0.02 |
| SKWD Skyward Specialty Insurance | Add +5.5% | 0.28% | +0.02 |
| NFLX Netflix Inc. | Add +24.4% | 0.05% | +0.02 |
| VIG Vanguard Dividend Apprec ETF | New | 0.02% | +0.02 |
| PANW Palo Alto Networks Inc. | New | 0.02% | +0.02 |
| GEV GE Vernova Inc. | New | 0.02% | +0.02 |
| CADE Cadence Bank | New | 0.02% | +0.02 |
| MRVL Marvell Technology Inc. | New | 0.02% | +0.02 |
| ICE Intercontinental Exchange Inc. | New | 0.02% | +0.02 |
| TRP TC Energy Corp. | New | 0.02% | +0.02 |
| BAC Bank of America Corp. | New | 0.02% | +0.02 |
| VGT Vanguard Info Tech ETF | New | 0.02% | +0.02 |
| PM Philip Morris International | Add +0.3% | 0.21% | +0.02 |
| LAZ Lazard Inc. | Add +2.0% | 0.25% | +0.02 |
| FLOT iShares Floating Rate Bond E | Add +16.7% | 0.15% | +0.01 |
| SCHB Schwab US Broad Market ETF | Add +5.5% | 0.14% | +0.01 |
| RTX RTX Corp. | Add +2.4% | 0.20% | +0.01 |
| BIP Brookfield Infrastructure Pa | Add +9.8% | 0.08% | +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 |