Violich Capital Management, Inc.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 29, 2025), Violich Capital Management, Inc. reported 98 stock positions worth $710.6 million. Its top holding was Microsoft (MSFT) at 11.6% of the portfolio, followed by Alphabet Class C (GOOG, 8.2%) and Alphabet Class A (GOOGL, 7.8%). Compared with Q1 2025, it opened 11 new positions, sold out of 16, added to 10 and reduced 59. The biggest buy was Procter & Gamble (PG, shares +135%) and the biggest sale Unitedhealth (UNH, shares −17%).

Most Recent 13F
Q2 2026
Location
MILL VALLEY, CA
CIK
0001326766
Portfolio Value
$710.6M (Q2 2025)
SEC Filing
0001326766-25-000003 ↗ filed Jul 29, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $698.8M Q1 2024 Q2 2024: $740.0M Q2 2024 Q3 2024: $769.3M Q3 2024 Q4 2024: $768.8M Q4 2024 Q1 2025: $741.2M Q1 2025 Q2 2025: $710.6M $710.6M Q2 2025 Q3 2025: $840.4M Q3 2025 Q4 2025: $896.1M Q4 2025 Q1 2026: $855.4M Q1 2026 Q2 2026: $919.3M Q2 2026

Holdings 98 stocks · $710.6M
MSFT Microsoft Corp. 11.64% 166,285 $82.7M Reduce -10.2%
GOOG Alphabet Inc. Class C 8.23% 329,553 $58.5M Reduce -8.9%
GOOGL Alphabet Inc. Class A 7.75% 312,563 $55.1M Reduce -6.7%
V Visa Inc. Class A 6.71% 134,380 $47.7M Reduce -9.2%
COST Costco Wholesale Corp. 6.54% 46,951 $46.5M Reduce -10.7%
ORCL Oracle Corp. 6.44% 209,221 $45.7M Reduce -4.4%
AAPL Apple Inc. 6.42% 222,414 $45.6M Reduce -8.9%
BRK.B Berkshire Hathaway Inc. Class B 3.72% 54,427 $26.4M Reduce -7.2%
ABBV Abbvie Inc. 2.72% 104,145 $19.3M Reduce -10.9%
AMZN Amazon.com Inc. 1.98% 64,170 $14.1M Reduce -9.7%
GLD SPDR Gold Shares 1.95% 45,547 $13.9M Reduce -5.0%
JNJ Johnson & Johnson 1.90% 88,336 $13.5M Reduce -12.3%
HON Honeywell International Inc. 1.87% 56,931 $13.3M Reduce -12.7%
AMLP Alerian MLP ETF 1.74% 253,290 $12.4M Reduce -11.6%
PM Philip Morris International 1.59% 62,165 $11.3M Reduce -14.8%
PEP Pepsico Inc. 1.44% 77,602 $10.2M Reduce -11.6%
CVX Chevron Corp. 1.40% 69,398 $9.9M Reduce -8.6%
LRCX Lam Research Corp. 1.37% 100,250 $9.8M No change
ACN Accenture PLC Class A 1.33% 31,670 $9.5M Reduce -13.4%
UNH Unitedhealth Group Inc. 1.30% 29,600 $9.2M Reduce -16.8%
BHP BHP Group Ltd.-Spon ADR 1.24% 183,763 $8.8M Reduce -12.7%
UNP Union Pacific Corp. 1.11% 34,140 $7.9M Reduce -14.4%
AON Aon PLC Class A 1.07% 21,308 $7.6M Reduce -1.4%
ADP Automatic Data Processing 1.00% 23,105 $7.1M Reduce -11.4%
VZ Verizon Communications Inc. 0.94% 154,287 $6.7M Reduce -13.7%
DHR Danaher Corp. 0.91% 32,599 $6.4M Reduce -11.2%
MRK Merck & Co. Inc. 0.85% 76,292 $6.0M Reduce -9.4%
JPM JPMorgan Chase & Co. 0.78% 19,175 $5.6M Reduce -5.4%
MA Mastercard Inc. Class A 0.72% 9,098 $5.1M Reduce -1.9%
AVGO Broadcom Inc. 0.70% 18,085 $5.0M Reduce -1.0%
COP Conocophillips 0.69% 54,884 $4.9M Reduce -17.1%
AEM Agnico Eagle Mines Ltd. 0.61% 36,317 $4.3M Reduce -0.0%
XOM Exxon Mobil Corp. 0.57% 37,650 $4.1M Reduce -9.7%
NKE Nike Inc. Class B 0.57% 57,030 $4.1M Reduce -19.6%
CVS CVS Health Corp. 0.53% 54,414 $3.8M Reduce -11.1%
NEE Nextera Energy Inc. 0.52% 53,097 $3.7M Reduce -1.9%
META Meta Platforms Inc. Class A 0.47% 4,560 $3.4M Add +1.1%
KO The Coca-Cola Co. 0.46% 46,597 $3.3M Add +2.8%
GS Goldman Sachs Group Inc. 0.46% 4,650 $3.3M Reduce -8.8%
AMGN Amgen Inc. 0.46% 11,600 $3.2M No change
PG The Procter & Gamble Co. 0.44% 19,642 $3.1M Add +134.8%
BDX Becton Dickinson and Co. 0.42% 17,214 $3.0M Reduce -20.0%
DE Deere & Co. 0.36% 5,000 $2.5M No change
VTWO Vanguard Russell 2000 ETF 0.34% 27,500 $2.4M Reduce -21.9%
KMB Kimberly-Clark Corp. 0.33% 18,042 $2.3M Reduce -9.3%
VOO Vanguard S&P 500 ETF 0.31% 3,877 $2.2M Reduce -30.3%
CPAY Corpay Inc. 0.30% 6,500 $2.2M Reduce -11.0%
SPY SS SPDR S&P 500 ETF Trust-US 0.28% 3,221 $2.0M Add +0.0%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.27% 15,499 $1.9M Reduce -6.6%
CMCSA Comcast Corp. Class A 0.24% 48,130 $1.7M Reduce -16.8%
ADBE Adobe Inc. 0.24% 4,338 $1.7M Reduce -18.3%
MCD McDonald's Corp. 0.19% 4,735 $1.4M No change
IVV iShares Core S&P 500 ETF 0.19% 2,152 $1.3M Reduce -9.5%
FDX FedEx Corp. 0.18% 5,591 $1.3M Reduce -20.0%
WMT Walmart Inc. 0.17% 12,625 $1.2M No change
RSP Invesco S&P 500 Equal Weight 0.16% 6,250 $1.1M No change
RIO Rio Tinto PLC-Spon ADR 0.15% 18,800 $1.1M Reduce -2.7%
DUK Duke Energy Corp. 0.15% 8,838 $1.0M New
QUAL iShares MSCI USA Quality Fac 0.14% 5,500 $1.0M Reduce -0.7%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.14% 29,250 $989K Reduce -6.1%
SLV iShares Silver Trust 0.13% 28,100 $922K No change
DELL Dell Technologies -C 0.12% 7,168 $879K No change
DT Dynatrace Inc. 0.12% 15,000 $828K No change
PFE Pfizer Inc. 0.11% 31,037 $752K Reduce -24.7%
CAT Caterpillar Inc. 0.10% 1,800 $699K New
LIN Linde PLC 0.09% 1,415 $664K New
KVUE Kenvue Inc. 0.09% 30,252 $633K Reduce -16.2%
MMM 3M Co. 0.08% 3,536 $538K Add +10.6%
NVS Novartis AG-Sponsored ADR 0.07% 4,397 $532K No change
CL Colgate-Palmolive Co. 0.07% 5,585 $508K No change
NSRGY Nestle SA-Spons ADR 0.07% 4,940 $491K No change
VLTO Veralto Corp. 0.07% 4,812 $486K Reduce -16.5%
EPD Enterprise Products Partners 0.07% 15,300 $474K Reduce -14.0%
RGLD Royal Gold Inc. 0.07% 2,600 $462K Add +4.0%
HD Home Depot Inc. 0.06% 1,250 $458K Reduce -7.4%
CI The Cigna Group 0.06% 1,353 $447K Reduce -6.9%
SO The Southern Co. 0.06% 4,629 $425K No change
BLK BlackRock Inc. 0.06% 400 $420K No change
TMO Thermo Fisher Scientific Inc. 0.06% 1,011 $410K Reduce -12.2%
FANG Diamondback Energy Inc. 0.06% 2,900 $398K No change
SPGI S&P Global Inc. 0.06% 750 $395K No change
NVDA Nvidia Corp. 0.06% 2,490 $393K Add +25.1%
PCAR Paccar Inc. 0.05% 3,900 $371K No change
THC Tenet Healthcare Corp. 0.05% 1,905 $335K Add +7.0%
PCT Purecycle Technologies Inc. 0.05% 23,900 $327K Add +7.7%
NXE Nexgen Energy Ltd. 0.04% 45,400 $315K Reduce -50.2%
D Dominion Energy Inc. 0.04% 4,655 $263K Reduce -4.1%
MCHP Microchip Technology Inc. 0.03% 3,500 $246K New
HII Huntington Ingalls Industrie 0.03% 1,020 $246K New
BA The Boeing Co. 0.03% 1,100 $230K New
CSCO Cisco Systems Inc. 0.03% 3,250 $225K New
SCHW Schwab (charles) Corp. 0.03% 2,400 $219K New
ACIW Aci Worldwide Inc. 0.03% 4,625 $212K Reduce -4.2%
OKE Oneok Inc. 0.03% 2,581 $211K No change
WDOFF Wesdome Gold Mines Ltd. 0.03% 15,100 $210K Add +4.9%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.03% 730 $204K New
WFC Wells Fargo & Co. 0.03% 2,500 $200K New
KD Kyndryl Holdings Inc. 0.03% 4,770 $200K New

Portfolio Sells Q1 2025 → Q2 2025
UNH Unitedhealth Group Inc. Reduce -16.8% 1.30% −1.22
AAPL Apple Inc. Reduce -8.9% 6.42% −0.90
ABBV Abbvie Inc. Reduce -10.9% 2.72% −0.58
BRK.B Berkshire Hathaway Inc. Class B Reduce -7.2% 3.72% −0.49
JNJ Johnson & Johnson Reduce -12.3% 1.90% −0.36
PEP Pepsico Inc. Reduce -11.6% 1.44% −0.33
SYK Stryker Corp. Sold out 0.00% −0.33
CVX Chevron Corp. Reduce -8.6% 1.40% −0.32
V Visa Inc. Class A Reduce -9.2% 6.71% −0.29
AMLP Alerian MLP ETF Reduce -11.6% 1.74% −0.27
BDX Becton Dickinson and Co. Reduce -20.0% 0.42% −0.25
COP Conocophillips Reduce -17.1% 0.69% −0.25
ACN Accenture PLC Class A Reduce -13.4% 1.33% −0.21
VFIAX Vanguard 500 Index-Adm Sold out 0.00% −0.17
MRK Merck & Co. Inc. Reduce -9.4% 0.85% −0.17
COST Costco Wholesale Corp. Reduce -10.7% 6.54% −0.17
UNP Union Pacific Corp. Reduce -14.4% 1.11% −0.17
Duke Energy Corp New Sold out 0.00% −0.16
VZ Verizon Communications Inc. Reduce -13.7% 0.94% −0.15
BHP BHP Group Ltd.-Spon ADR Reduce -12.7% 1.24% −0.13
PANW Palo Alto Networks Inc. Sold out 0.00% −0.13
DHR Danaher Corp. Reduce -11.2% 0.91% −0.11
XOM Exxon Mobil Corp. Reduce -9.7% 0.57% −0.10
AON Aon PLC Class A Reduce -1.4% 1.07% −0.09
LIN Linde PLC Sold out 0.00% −0.09
QQQ Invesco QQQ Trust Series 1 Sold out 0.00% −0.09
VOO Vanguard S&P 500 ETF Reduce -30.3% 0.31% −0.08
ADP Automatic Data Processing Reduce -11.4% 1.00% −0.07
VEXAX Vanguard Ext MKT Indx-Adm Sold out 0.00% −0.05
KMB Kimberly-Clark Corp. Reduce -9.3% 0.33% −0.05
FDX FedEx Corp. Reduce -20.0% 0.18% −0.05
AMERICAN TOWER CORP Sold out 0.00% −0.05
ICSH iShares Ultra Short Duration Sold out 0.00% −0.05
AGTHX Amer FND GRW FD of Am-A Sold out 0.00% −0.05
CMCSA Comcast Corp. Class A Reduce -16.8% 0.24% −0.05
VTWO Vanguard Russell 2000 ETF Reduce -21.9% 0.34% −0.05
CPAY Corpay Inc. Reduce -11.0% 0.30% −0.04
ADBE Adobe Inc. Reduce -18.3% 0.24% −0.04
NKE Nike Inc. Class B Reduce -19.6% 0.57% −0.04
SLB SLB Ltd. Reduce -6.1% 0.14% −0.04
VTRIX Vanguard Intl Val-Inv Sold out 0.00% −0.04
PFE Pfizer Inc. Reduce -24.7% 0.11% −0.04
TTE Totalenergies SE -Spon ADR Sold out 0.00% −0.03
CVS CVS Health Corp. Reduce -11.1% 0.53% −0.03
DORM Dorman Products Inc. Sold out 0.00% −0.03
VIMAX VNGD Mrngst MD-CP Idx FD-Adm Sold out 0.00% −0.03
KVUE Kenvue Inc. Reduce -16.2% 0.09% −0.03
VMD Viemed Healthcare Inc. Sold out 0.00% −0.02
TMO Thermo Fisher Scientific Inc. Reduce -12.2% 0.06% −0.02
EPD Enterprise Products Partners Reduce -14.0% 0.07% −0.02

Portfolio Buys Q1 2025 → Q2 2025
PG The Procter & Gamble Co. Add +134.8% 0.44% +0.25
DUK Duke Energy Corp. New 0.15% +0.15
META Meta Platforms Inc. Class A Add +1.1% 0.47% +0.12
CAT Caterpillar Inc. New 0.10% +0.10
LIN Linde PLC New 0.09% +0.09
SPY SS SPDR S&P 500 ETF Trust-US Add +0.0% 0.28% +0.04
HII Huntington Ingalls Industrie New 0.03% +0.03
MCHP Microchip Technology Inc. New 0.03% +0.03
BA The Boeing Co. New 0.03% +0.03
CSCO Cisco Systems Inc. New 0.03% +0.03
SCHW Schwab (charles) Corp. New 0.03% +0.03
VO Vngrd Mrngstr MD-Cap ETF-Usd New 0.03% +0.03
KD Kyndryl Holdings Inc. New 0.03% +0.03
WFC Wells Fargo & Co. New 0.03% +0.03
NVDA Nvidia Corp. Add +25.1% 0.06% +0.03
KO The Coca-Cola Co. Add +2.8% 0.46% +0.03
PCT Purecycle Technologies Inc. Add +7.7% 0.05% +0.03
THC Tenet Healthcare Corp. Add +7.0% 0.05% +0.01
MMM 3M Co. Add +10.6% 0.08% +0.01
RGLD Royal Gold Inc. Add +4.0% 0.07% +0.01
WDOFF Wesdome Gold Mines Ltd. Add +4.9% 0.03% +0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 122$919.3MGOOG, GOOGL, MSFT, AAPL, V
Q1 2026 118$855.4MGOOG, GOOGL, MSFT, AAPL, COST
Q4 2025 114$896.1MGOOG, GOOGL, MSFT, AAPL, V
Q3 2025 109$840.4MMSFT, GOOG, GOOGL, ORCL, AAPL
Q2 2025 98$710.6MMSFT, GOOG, GOOGL, V, COST
Q1 2025 103$741.2MMSFT, GOOG, AAPL, V, GOOGL
Q4 2024 107$768.8MMSFT, GOOG, GOOGL, AAPL, COST
Q3 2024 111$769.3MMSFT, GOOG, AAPL, GOOGL, COST
Q2 2024 109$740.0MMSFT, GOOG, GOOGL, AAPL, COST
Q1 2024 109$698.8MMSFT, GOOG, GOOGL, AAPL, COST