Callahan Advisors, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 31, 2025), Callahan Advisors, LLC reported 168 stock positions worth $1.2 billion. Its top holding was Meta Platforms Class A (META) at 6.4% of the portfolio, followed by Alphabet Class C (GOOG, 5.7%) and Microsoft (MSFT, 5.5%). Compared with Q2 2025, it opened 3 new positions, sold out of 8, added to 74 and reduced 65. The biggest buy was Alphabet Class C (GOOG, shares +1%) and the biggest sale Meta Platforms Class A (META, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- Houston, TX
- CIK
- 0001395055
- Portfolio Value
- $1.2B (Q3 2025)
- SEC Filing
- 0001140361-25-039992 ↗ filed Oct 31, 2025
Holdings Value
Holdings 168 stocks · $1.2B
| META Meta Platforms Inc. Class A | 6.35% | 101,876 | $74.8M | Reduce -0.5% |
| GOOG Alphabet Inc. Class C | 5.67% | 274,314 | $66.8M | Add +0.7% |
| MSFT Microsoft Corp. | 5.49% | 124,703 | $64.6M | Add +0.1% |
| AMZN Amazon.com Inc. | 4.18% | 224,006 | $49.2M | Add +1.2% |
| AAPL Apple Inc. | 3.16% | 146,065 | $37.2M | Reduce -2.8% |
| BN Brookfield Corp. | 2.77% | 476,156 | $32.7M | Reduce -1.0% |
| JPM JPMorgan Chase & Co. | 2.62% | 97,813 | $30.9M | Reduce -1.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.52% | 58,900 | $29.6M | Add +0.9% |
| NVDA Nvidia Corp. | 2.49% | 157,306 | $29.4M | Add +5.4% |
| CB Chubb Ltd. | 2.29% | 95,597 | $27.0M | Add +2.0% |
| CAT Caterpillar Inc. | 2.20% | 54,385 | $25.9M | Reduce -1.4% |
| NEE Nextera Energy Inc. | 2.09% | 325,925 | $24.6M | Add +8.7% |
| BKNG Booking Holdings Inc. | 2.08% | 4,540 | $24.5M | Add +1.9% |
| JNJ Johnson & Johnson | 1.95% | 123,728 | $22.9M | Add +0.2% |
| PEP Pepsico Inc. | 1.65% | 137,913 | $19.4M | Add +5.7% |
| EQT Eqt Corp. | 1.60% | 346,981 | $18.9M | Add +10.6% |
| PFE Pfizer Inc. | 1.54% | 713,797 | $18.2M | Add +6.5% |
| SYK Stryker Corp. | 1.54% | 48,895 | $18.1M | Reduce -0.6% |
| MA Mastercard Inc. Class A | 1.50% | 30,977 | $17.6M | Add +8.7% |
| MCD McDonald's Corp. | 1.50% | 57,959 | $17.6M | Reduce -0.2% |
| UNH Unitedhealth Group Inc. | 1.46% | 49,672 | $17.2M | Add +3.0% |
| PG The Procter & Gamble Co. | 1.39% | 106,840 | $16.4M | Add +0.7% |
| FDX FedEx Corp. | 1.32% | 66,142 | $15.6M | Reduce -3.0% |
| WMT Walmart Inc. | 1.32% | 150,514 | $15.5M | Reduce -3.2% |
| AMAT Applied Materials Inc. | 1.31% | 75,555 | $15.5M | Reduce -1.5% |
| XOM Exxon Mobil Corp. | 1.30% | 136,230 | $15.4M | Reduce -4.2% |
| LOW Lowe's Cos Inc. | 1.28% | 60,090 | $15.1M | Reduce -1.0% |
| LLY Eli Lilly & Co. | 1.21% | 18,694 | $14.3M | Add +4.0% |
| CVX Chevron Corp. | 1.14% | 86,715 | $13.5M | Reduce -2.0% |
| ASML ASML Holding NV-NY Reg SHS | 1.06% | 12,881 | $12.5M | Add +8.2% |
| STE Steris PLC | 1.03% | 48,804 | $12.1M | Add +2.1% |
| FTNT Fortinet Inc. | 0.98% | 137,796 | $11.6M | Add +1.9% |
| ABT Abbott Laboratories | 0.97% | 85,033 | $11.4M | Add +0.9% |
| URI United Rentals Inc. | 0.92% | 11,296 | $10.8M | Reduce -2.5% |
| EXP Eagle Materials Inc. | 0.89% | 45,208 | $10.5M | Add +0.8% |
| CTVA Corteva Inc. | 0.86% | 149,539 | $10.1M | Reduce -0.3% |
| ADBE Adobe Inc. | 0.83% | 27,669 | $9.8M | Add +19.2% |
| ETN Eaton Corp. PLC | 0.83% | 26,017 | $9.7M | Add +9.9% |
| CRM Salesforce Inc. | 0.81% | 40,419 | $9.6M | Add +22.1% |
| KMI Kinder Morgan Inc. | 0.81% | 337,099 | $9.5M | Reduce -6.4% |
| DY Dycom Industries Inc. | 0.81% | 32,571 | $9.5M | Reduce -6.6% |
| PAYX Paychex Inc. | 0.80% | 73,882 | $9.4M | Reduce -0.7% |
| TSM Taiwan Semiconductor-SP ADR | 0.75% | 31,595 | $8.8M | Add +23.6% |
| IQV Iqvia Holdings Inc. | 0.73% | 45,113 | $8.6M | Add +3.8% |
| WELL Welltower Inc. | 0.69% | 45,797 | $8.2M | Add +3.1% |
| CNI Canadian Natl Railway Co. | 0.62% | 78,010 | $7.4M | Reduce -26.9% |
| GOOGL Alphabet Inc. Class A | 0.61% | 29,494 | $7.2M | Reduce -6.4% |
| T AT&T Inc. | 0.59% | 245,211 | $6.9M | Reduce -12.7% |
| CAH Cardinal Health Inc. | 0.58% | 43,350 | $6.8M | Reduce -9.1% |
| CTAS Cintas Corp. | 0.57% | 32,902 | $6.8M | Reduce -0.9% |
| CVS CVS Health Corp. | 0.57% | 88,808 | $6.7M | Add +15.9% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.52% | 53,787 | $6.2M | Reduce -4.1% |
| WTW Willis Towers Watson PLC | 0.52% | 17,690 | $6.1M | Add +2.4% |
| ENB Enbridge Inc. | 0.51% | 120,065 | $6.1M | Add +1.5% |
| AXP American Express Co. | 0.50% | 17,828 | $5.9M | Add +0.0% |
| VRSK Verisk Analytics Inc. | 0.44% | 20,494 | $5.2M | Add +0.6% |
| ACN Accenture PLC Class A | 0.44% | 20,872 | $5.1M | Reduce -14.7% |
| STEL Stellar Bancorp Inc. | 0.42% | 162,733 | $4.9M | Add +0.0% |
| PLD Prologis Inc. | 0.40% | 40,978 | $4.7M | Add +10.6% |
| CSCO Cisco Systems Inc. | 0.39% | 66,921 | $4.6M | Reduce -0.4% |
| WDAY Workday Inc. Class A | 0.35% | 17,070 | $4.1M | Add +1.9% |
| TRI Thomson Reuters Corp. | 0.35% | 26,314 | $4.1M | No change |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.34% | 115,783 | $4.0M | Reduce -7.7% |
| PAYC Paycom Software Inc. | 0.33% | 18,540 | $3.9M | Reduce -7.5% |
| NOW ServiceNow Inc. | 0.30% | 3,900 | $3.6M | Add +1.0% |
| NTRS Northern Trust Corp. | 0.30% | 26,553 | $3.6M | Add +5.9% |
| KO The Coca-Cola Co. | 0.30% | 53,840 | $3.6M | Add +0.1% |
| HD Home Depot Inc. | 0.29% | 8,468 | $3.4M | Add +0.4% |
| CFR Cullen/Frost Bankers Inc. | 0.29% | 26,997 | $3.4M | Add +1.9% |
| ENTG Entegris Inc. | 0.27% | 34,398 | $3.2M | Reduce -6.9% |
| V Visa Inc. Class A | 0.27% | 9,239 | $3.2M | No change |
| LAZ Lazard Inc. | 0.26% | 58,684 | $3.1M | Reduce -0.5% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.26% | 21,425 | $3.1M | Add +3.2% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.26% | 4 | $3.0M | No change |
| HSY The Hershey Co. | 0.25% | 15,814 | $3.0M | Reduce -0.3% |
| ZTS Zoetis Inc. | 0.23% | 18,704 | $2.7M | Add +1.6% |
| EOG EOG Resources Inc. | 0.23% | 24,166 | $2.7M | Reduce -12.2% |
| SKWD Skyward Specialty Insurance | 0.21% | 53,032 | $2.5M | No change |
| RTX RTX Corp. | 0.21% | 14,875 | $2.5M | Add +0.0% |
| GD General Dynamics Corp. | 0.21% | 7,147 | $2.4M | No change |
| EPD Enterprise Products Partners | 0.20% | 77,048 | $2.4M | Reduce -7.9% |
| LMT Lockheed Martin Corp. | 0.20% | 4,709 | $2.4M | Add +0.3% |
| BHP BHP Group Ltd.-Spon ADR | 0.20% | 41,860 | $2.3M | Reduce -5.5% |
| DHR Danaher Corp. | 0.20% | 11,746 | $2.3M | Reduce -7.1% |
| UL Unilever PLC | 0.19% | 37,600 | $2.2M | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.19% | 3,290 | $2.2M | Add +93.0% |
| DHI D.R. Horton Inc. | 0.18% | 12,501 | $2.1M | Add +3.6% |
| PM Philip Morris International | 0.18% | 12,905 | $2.1M | Add +0.5% |
| SCHB Schwab US Broad Market ETF | 0.17% | 78,338 | $2.0M | Add +20.1% |
| MRK Merck & Co. Inc. | 0.17% | 23,917 | $2.0M | Reduce -8.3% |
| FLOT iShares Floating Rate Bond E | 0.17% | 38,620 | $2.0M | Add +15.8% |
| BF.B Brown-Forman Corp. Class B | 0.16% | 71,649 | $1.9M | Reduce -17.3% |
| DEO Diageo PLC-Sponsored ADR | 0.16% | 19,143 | $1.8M | Add +5.2% |
| BFK BlackRock Municipal Inc. TRST | 0.15% | 179,326 | $1.8M | Reduce -3.1% |
| NKE Nike Inc. Class B | 0.15% | 24,528 | $1.7M | Reduce -13.3% |
| QSR Restaurant Brands Intern | 0.14% | 25,030 | $1.6M | No change |
| FE Firstenergy Corp. | 0.13% | 32,600 | $1.5M | No change |
| ABBV Abbvie Inc. | 0.12% | 5,909 | $1.4M | Add +3.0% |
| GPN Global Payments Inc. | 0.11% | 16,152 | $1.3M | Reduce -38.0% |
| KVUE Kenvue Inc. | 0.11% | 80,523 | $1.3M | New |
Portfolio Sells Q2 2025 → Q3 2025
| META Meta Platforms Inc. Class A | Reduce -0.5% | 6.35% | −0.44 |
| CNI Canadian Natl Railway Co. | Reduce -26.9% | 0.62% | −0.37 |
| ACN Accenture PLC Class A | Reduce -14.7% | 0.44% | −0.22 |
| SYK Stryker Corp. | Reduce -0.6% | 1.54% | −0.21 |
| PAYX Paychex Inc. | Reduce -0.7% | 0.80% | −0.18 |
| CTVA Corteva Inc. | Reduce -0.3% | 0.86% | −0.15 |
| T AT&T Inc. | Reduce -12.7% | 0.59% | −0.14 |
| CAH Cardinal Health Inc. | Reduce -9.1% | 0.58% | −0.14 |
| KMI Kinder Morgan Inc. | Reduce -6.4% | 0.81% | −0.14 |
| MKTX Marketaxess Holdings Inc. | Sold out | 0.00% | −0.11 |
| DIS The Walt Disney Co. | Reduce -4.1% | 0.52% | −0.10 |
| CTAS Cintas Corp. | Reduce -0.9% | 0.57% | −0.09 |
| PAYC Paycom Software Inc. | Reduce -7.5% | 0.33% | −0.09 |
| XOM Exxon Mobil Corp. | Reduce -4.2% | 1.30% | −0.07 |
| GPN Global Payments Inc. | Reduce -38.0% | 0.11% | −0.07 |
| SBUX Starbucks Corp. | Reduce -38.2% | 0.08% | −0.07 |
| FDX FedEx Corp. | Reduce -3.0% | 1.32% | −0.07 |
| EOG EOG Resources Inc. | Reduce -12.2% | 0.23% | −0.07 |
| DOW Dow Inc. | Sold out | 0.00% | −0.06 |
| IBM Intl Business Machines Corp. | Reduce -26.3% | 0.10% | −0.05 |
| WMT Walmart Inc. | Reduce -3.2% | 1.32% | −0.05 |
| BF.B Brown-Forman Corp. Class B | Reduce -17.3% | 0.16% | −0.04 |
| SLB SLB Ltd. | Reduce -7.7% | 0.34% | −0.04 |
| FISV Fiserv Inc. | Reduce -0.9% | 0.10% | −0.04 |
| NKE Nike Inc. Class B | Reduce -13.3% | 0.15% | −0.04 |
| CSCO Cisco Systems Inc. | Reduce -0.4% | 0.39% | −0.03 |
| MCD McDonald's Corp. | Reduce -0.2% | 1.50% | −0.03 |
| EPD Enterprise Products Partners | Reduce -7.9% | 0.20% | −0.03 |
| DHR Danaher Corp. | Reduce -7.1% | 0.20% | −0.03 |
| ORCL Oracle Corp. | Reduce -39.4% | 0.07% | −0.02 |
| CRK Comstock Resources Inc. | Sold out | 0.00% | −0.02 |
| PANW Palo Alto Networks Inc. | Sold out | 0.00% | −0.02 |
| ICE Intercontinental Exchange Inc. | Sold out | 0.00% | −0.02 |
| BAC Bank of America Corp. | Sold out | 0.00% | −0.02 |
| AR Antero Resources Corp. | Sold out | 0.00% | −0.02 |
| OKE Oneok Inc. | Reduce -5.5% | 0.07% | −0.02 |
| MRK Merck & Co. Inc. | Reduce -8.3% | 0.17% | −0.02 |
| BLE BlackRock Muni Inc. TR II | Reduce -13.8% | 0.08% | −0.01 |
| IIM Invesco Value Municipal Inco | Sold out | 0.00% | −0.01 |
| ARCC Ares Capital Corp. | Reduce -24.1% | 0.02% | −0.01 |
| ARLP Alliance Resource Partners | Reduce -32.2% | 0.02% | −0.01 |
| ISRG Intuitive Surgical Inc. | Reduce -0.2% | 0.03% | −0.01 |
| MMM 3M Co. | Reduce -24.3% | 0.02% | −0.01 |
| EMR Emerson Electric Co. | Reduce -17.5% | 0.03% | −0.01 |
| STZ Constellation Brands Inc. Class A | Reduce -0.7% | 0.02% | −0.01 |
| BFK BlackRock Municipal Inc. TRST | Reduce -3.1% | 0.15% | −0.01 |
| BMY Bristol-Myers Squibb Co. | Reduce -3.6% | 0.04% | −0.01 |
| CP Canadian Pacific Kansas City | Reduce -11.5% | 0.02% | −0.00 |
| XMVTX BlackRock Munivest Fund II | Reduce -5.0% | 0.05% | −0.00 |
| GE General Electric | Reduce -26.1% | 0.02% | −0.00 |
Portfolio Buys Q2 2025 → Q3 2025
| GOOG Alphabet Inc. Class C | Add +0.7% | 5.67% | +1.33 |
| NVDA Nvidia Corp. | Add +5.4% | 2.49% | +0.37 |
| JNJ Johnson & Johnson | Add +0.2% | 1.95% | +0.25 |
| TSM Taiwan Semiconductor-SP ADR | Add +23.6% | 0.75% | +0.23 |
| NEE Nextera Energy Inc. | Add +8.7% | 2.09% | +0.22 |
| ASML ASML Holding NV-NY Reg SHS | Add +8.2% | 1.06% | +0.20 |
| IQV Iqvia Holdings Inc. | Add +3.8% | 0.73% | +0.11 |
| KVUE Kenvue Inc. | New | 0.11% | +0.11 |
| UNH Unitedhealth Group Inc. | Add +3.0% | 1.46% | +0.10 |
| PEP Pepsico Inc. | Add +5.7% | 1.65% | +0.10 |
| CVS CVS Health Corp. | Add +15.9% | 0.57% | +0.09 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +93.0% | 0.19% | +0.09 |
| PFE Pfizer Inc. | Add +6.5% | 1.54% | +0.08 |
| EXP Eagle Materials Inc. | Add +0.8% | 0.89% | +0.08 |
| WELL Welltower Inc. | Add +3.1% | 0.69% | +0.08 |
| ETN Eaton Corp. PLC | Add +9.9% | 0.83% | +0.07 |
| MA Mastercard Inc. Class A | Add +8.7% | 1.50% | +0.06 |
| PLD Prologis Inc. | Add +10.6% | 0.40% | +0.05 |
| WTW Willis Towers Watson PLC | Add +2.4% | 0.52% | +0.04 |
| DHI D.R. Horton Inc. | Add +3.6% | 0.18% | +0.04 |
| ENB Enbridge Inc. | Add +1.5% | 0.51% | +0.03 |
| TJX TJX Companies Inc. | Add +3.2% | 0.26% | +0.03 |
| SCHB Schwab US Broad Market ETF | Add +20.1% | 0.17% | +0.03 |
| ADBE Adobe Inc. | Add +19.2% | 0.83% | +0.02 |
| ABBV Abbvie Inc. | Add +3.0% | 0.12% | +0.02 |
| PAGP Plains GP Holdings LP | New | 0.02% | +0.02 |
| NTRS Northern Trust Corp. | Add +5.9% | 0.30% | +0.02 |
| VZ Verizon Communications Inc. | New | 0.02% | +0.02 |
| RTX RTX Corp. | Add +0.0% | 0.21% | +0.02 |
| FLOT iShares Floating Rate Bond E | Add +15.8% | 0.17% | +0.01 |
| BNS Bank of Nova Scotia | Add +32.2% | 0.04% | +0.01 |
| HD Home Depot Inc. | Add +0.4% | 0.29% | +0.01 |
| STEL Stellar Bancorp Inc. | Add +0.0% | 0.42% | +0.01 |
| TSLA Tesla Inc. | Add +0.5% | 0.04% | +0.01 |
| LRCX Lam Research Corp. | Add +3.7% | 0.03% | +0.01 |
| CRGY Crescent Energy Inc. Class A | Add +19.0% | 0.05% | +0.01 |
| QQQ Invesco QQQ Trust Series 1 | Add +25.9% | 0.03% | +0.01 |
| MAIN Main Street Capital Corp. | Add +5.2% | 0.10% | +0.01 |
| PR Permian Resources Corp. Class A | Add +39.8% | 0.02% | +0.00 |
| MO Altria Group Inc. | Add +0.6% | 0.06% | +0.00 |
| LMT Lockheed Martin Corp. | Add +0.3% | 0.20% | +0.00 |
| GLD SPDR Gold Shares | Add +1.9% | 0.02% | +0.00 |
| CRM Salesforce Inc. | Add +22.1% | 0.81% | +0.00 |
| BX Blackstone Inc. | Add +0.2% | 0.02% | +0.00 |
| VOO Vanguard S&P 500 ETF | Add +0.1% | 0.04% | +0.00 |
| O Realty Income Corp. | Add +2.6% | 0.03% | +0.00 |
| VCIT Vanguard Int-Term Corporate | Add +6.0% | 0.02% | +0.00 |
| COP Conocophillips | Add +0.0% | 0.07% | −0.00 |
| NUV Nuveen Municipal Value | Add +0.8% | 0.04% | −0.00 |
| GILD Gilead Sciences Inc. | Add +0.2% | 0.03% | −0.00 |
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 |