Violich Capital Management, Inc.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 29, 2025), Violich Capital Management, Inc. reported 109 stock positions worth $840.4 million. Its top holding was Microsoft (MSFT) at 10.9% of the portfolio, followed by Alphabet Class C (GOOG, 9.8%) and Alphabet Class A (GOOGL, 9.3%). Compared with Q2 2025, it opened 14 new positions, sold out of 3, added to 47 and reduced 17. The biggest buy was Alphabet Class C (GOOG, shares +2%) and the biggest sale Aon Class A (AON, shares −1%).

Most Recent 13F
Q2 2026
Location
MILL VALLEY, CA
CIK
0001326766
Portfolio Value
$840.4M (Q3 2025)
SEC Filing
0001326766-25-000011 ↗ filed Oct 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 Q2 2025 Q3 2025: $840.4M $840.4M Q3 2025 Q4 2025: $896.1M Q4 2025 Q1 2026: $855.4M Q1 2026 Q2 2026: $919.3M Q2 2026

Holdings 109 stocks · $840.4M
MSFT Microsoft Corp. 10.92% 177,251 $91.8M Add +6.6%
GOOG Alphabet Inc. Class C 9.78% 337,398 $82.2M Add +2.4%
GOOGL Alphabet Inc. Class A 9.26% 320,128 $77.8M Add +2.4%
ORCL Oracle Corp. 7.15% 213,631 $60.1M Add +2.1%
AAPL Apple Inc. 6.47% 213,667 $54.4M Reduce -3.9%
V Visa Inc. Class A 5.75% 141,683 $48.4M Add +5.4%
COST Costco Wholesale Corp. 5.41% 49,092 $45.4M Add +4.6%
BRK.B Berkshire Hathaway Inc. Class B 3.46% 57,761 $29.0M Add +6.1%
ABBV Abbvie Inc. 3.04% 110,376 $25.6M Add +6.0%
JNJ Johnson & Johnson 2.11% 95,736 $17.8M Add +8.4%
GLD SPDR Gold Shares 2.03% 47,898 $17.0M Add +5.2%
AMZN Amazon.com Inc. 1.90% 72,849 $16.0M Add +13.5%
LRCX Lam Research Corp. 1.60% 100,250 $13.4M No change
AMLP Alerian MLP ETF 1.52% 271,390 $12.7M Add +7.2%
HON Honeywell International Inc. 1.51% 60,306 $12.7M Add +5.9%
PM Philip Morris International 1.38% 71,755 $11.6M Add +15.4%
CVX Chevron Corp. 1.29% 69,898 $10.9M Add +0.7%
BHP BHP Group Ltd.-Spon ADR 1.28% 192,761 $10.7M Add +4.9%
PEP Pepsico Inc. 1.28% 76,395 $10.7M Reduce -1.6%
UNH Unitedhealth Group Inc. 1.22% 29,800 $10.3M Add +0.7%
VOO Vanguard S&P 500 ETF 1.20% 16,510 $10.1M Add +325.8%
UNP Union Pacific Corp. 1.01% 36,065 $8.5M Add +5.6%
ACN Accenture PLC Class A 1.01% 34,287 $8.5M Add +8.3%
AON Aon PLC Class A 0.89% 21,008 $7.5M Reduce -1.4%
AEM Agnico Eagle Mines Ltd. 0.84% 42,030 $7.1M Add +15.7%
ADP Automatic Data Processing 0.84% 23,990 $7.0M Add +3.8%
DHR Danaher Corp. 0.82% 34,629 $6.9M Add +6.2%
VZ Verizon Communications Inc. 0.80% 153,262 $6.7M Reduce -0.7%
JPM JPMorgan Chase & Co. 0.79% 21,175 $6.7M Add +10.4%
AVGO Broadcom Inc. 0.71% 18,085 $6.0M No change
MRK Merck & Co. Inc. 0.70% 69,892 $5.9M Reduce -8.4%
COP Conocophillips 0.65% 58,134 $5.5M Add +5.9%
MA Mastercard Inc. Class A 0.64% 9,398 $5.3M Add +3.3%
XOM Exxon Mobil Corp. 0.53% 39,175 $4.4M Add +4.0%
CVS CVS Health Corp. 0.50% 56,264 $4.2M Add +3.4%
GS Goldman Sachs Group Inc. 0.48% 5,100 $4.1M Add +9.7%
NEE Nextera Energy Inc. 0.48% 53,097 $4.0M No change
BDX Becton Dickinson and Co. 0.44% 19,825 $3.7M Add +15.2%
NKE Nike Inc. Class B 0.43% 52,305 $3.6M Reduce -8.3%
META Meta Platforms Inc. Class A 0.42% 4,845 $3.6M Add +6.3%
AMGN Amgen Inc. 0.38% 11,400 $3.2M Reduce -1.7%
KO The Coca-Cola Co. 0.37% 46,497 $3.1M Reduce -0.2%
PG The Procter & Gamble Co. 0.36% 19,642 $3.0M No change
DE Deere & Co. 0.27% 4,900 $2.2M Reduce -2.0%
KMB Kimberly-Clark Corp. 0.27% 17,972 $2.2M Reduce -0.4%
SPY SS SPDR S&P 500 ETF Trust-US 0.26% 3,259 $2.2M Add +1.2%
AMD Advanced Micro Devices 0.25% 13,100 $2.1M New
CPAY Corpay Inc. 0.25% 7,300 $2.1M Add +12.3%
SYK Stryker Corp. 0.23% 5,275 $2.0M New
ADBE Adobe Inc. 0.22% 5,191 $1.8M Add +19.7%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.21% 15,429 $1.8M Reduce -0.5%
VTWO Vanguard Russell 2000 ETF 0.20% 17,000 $1.7M Reduce -38.2%
SLV iShares Silver Trust 0.19% 37,400 $1.6M Add +33.1%
CSCO Cisco Systems Inc. 0.18% 22,465 $1.5M Add +591.2%
IVV iShares Core S&P 500 ETF 0.18% 2,290 $1.5M Add +6.4%
CMCSA Comcast Corp. Class A 0.17% 45,950 $1.4M Reduce -4.5%
MCD McDonald's Corp. 0.17% 4,743 $1.4M Add +0.2%
QQQ Invesco QQQ Trust Series 1 0.16% 2,262 $1.4M New
WMT Walmart Inc. 0.15% 12,625 $1.3M No change
RSP Invesco S&P 500 Equal Weight 0.14% 6,250 $1.2M No change
RIO Rio Tinto PLC-Spon ADR 0.14% 17,800 $1.2M Reduce -5.3%
DELL Dell Technologies -C 0.13% 7,888 $1.1M Add +10.0%
DUK Duke Energy Corp. 0.13% 8,838 $1.1M No change
QUAL iShares MSCI USA Quality Fac 0.13% 5,540 $1.1M Add +0.7%
FDX FedEx Corp. 0.13% 4,558 $1.1M Reduce -18.5%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.11% 27,150 $933K Reduce -7.2%
CAT Caterpillar Inc. 0.10% 1,800 $859K No change
PFE Pfizer Inc. 0.09% 31,037 $791K No change
DT Dynatrace Inc. 0.09% 15,000 $727K No change
LIN Linde PLC 0.08% 1,415 $672K No change
VLTO Veralto Corp. 0.07% 5,480 $584K Add +13.9%
PANW Palo Alto Networks Inc. 0.07% 2,850 $580K New
NVS Novartis AG-Sponsored ADR 0.07% 4,347 $557K Reduce -1.1%
KVUE Kenvue Inc. 0.07% 33,890 $550K Add +12.0%
MMM 3M Co. 0.07% 3,536 $549K No change
NVDA Nvidia Corp. 0.07% 2,935 $548K Add +17.9%
RGLD Royal Gold Inc. 0.06% 2,600 $522K No change
TMO Thermo Fisher Scientific Inc. 0.06% 1,050 $509K Add +3.9%
HD Home Depot Inc. 0.06% 1,250 $506K No change
EPD Enterprise Products Partners 0.06% 15,300 $478K No change
WDOFF Wesdome Gold Mines Ltd. 0.06% 30,250 $472K Add +100.3%
BLK BlackRock Inc. 0.06% 400 $466K No change
NSRGY Nestle SA-Spons ADR 0.05% 4,940 $453K No change
CL Colgate-Palmolive Co. 0.05% 5,585 $446K No change
SO The Southern Co. 0.05% 4,629 $439K No change
FANG Diamondback Energy Inc. 0.05% 2,900 $415K No change
NXE Nexgen Energy Ltd. 0.05% 45,400 $406K No change
CI The Cigna Group 0.05% 1,353 $390K No change
PCAR Paccar Inc. 0.05% 3,900 $383K No change
SPGI S&P Global Inc. 0.04% 750 $365K No change
PCT Purecycle Technologies Inc. 0.04% 26,100 $343K Add +9.2%
AMT American Tower Corp. 0.04% 1,650 $317K New
HII Huntington Ingalls Industrie 0.04% 1,035 $298K Add +1.5%
D Dominion Energy Inc. 0.03% 4,655 $285K No change
DORM Dorman Products Inc. 0.03% 1,580 $246K New
ACIW Aci Worldwide Inc. 0.03% 4,625 $244K No change
AGI Alamos Gold Inc. Class A 0.03% 7,000 $244K New
REZI Resideo Technologies Inc. 0.03% 5,500 $237K New
BA The Boeing Co. 0.03% 1,100 $237K No change
ACMR Acm Research Inc. Class A 0.03% 5,900 $231K New
SCHW Schwab (charles) Corp. 0.03% 2,400 $229K No change
CMA Comerica Inc. 0.03% 3,334 $228K New
CCJ Cameco Corp. 0.03% 2,700 $226K New
MCHP Microchip Technology Inc. 0.03% 3,500 $225K No change
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.03% 730 $214K No change
WFC Wells Fargo & Co. 0.02% 2,500 $210K No change
RTX RTX Corp. 0.02% 1,250 $209K New
GD General Dynamics Corp. 0.02% 595 $203K New
OVV Ovintiv Inc. 0.02% 5,000 $202K New

Portfolio Sells Q2 2025 → Q3 2025
AON Aon PLC Class A Reduce -1.4% 0.89% −0.18
PEP Pepsico Inc. Reduce -1.6% 1.28% −0.17
MRK Merck & Co. Inc. Reduce -8.4% 0.70% −0.15
VTWO Vanguard Russell 2000 ETF Reduce -38.2% 0.20% −0.14
VZ Verizon Communications Inc. Reduce -0.7% 0.80% −0.14
NKE Nike Inc. Class B Reduce -8.3% 0.43% −0.14
KO The Coca-Cola Co. Reduce -0.2% 0.37% −0.10
DE Deere & Co. Reduce -2.0% 0.27% −0.09
AMGN Amgen Inc. Reduce -1.7% 0.38% −0.07
CMCSA Comcast Corp. Class A Reduce -4.5% 0.17% −0.07
KMB Kimberly-Clark Corp. Reduce -0.4% 0.27% −0.06
DIS The Walt Disney Co. Reduce -0.5% 0.21% −0.06
FDX FedEx Corp. Reduce -18.5% 0.13% −0.05
THC Tenet Healthcare Corp. Sold out 0.00% −0.05
OKE Oneok Inc. Sold out 0.00% −0.03
KD Kyndryl Holdings Inc. Sold out 0.00% −0.03
SLB SLB Ltd. Reduce -7.2% 0.11% −0.03
RIO Rio Tinto PLC-Spon ADR Reduce -5.3% 0.14% −0.01
NVS Novartis AG-Sponsored ADR Reduce -1.1% 0.07% −0.01
AAPL Apple Inc. Reduce -3.9% 6.47% +0.05

Portfolio Buys Q2 2025 → Q3 2025
GOOG Alphabet Inc. Class C Add +2.4% 9.78% +1.55
GOOGL Alphabet Inc. Class A Add +2.4% 9.26% +1.51
VOO Vanguard S&P 500 ETF Add +325.8% 1.20% +0.89
ORCL Oracle Corp. Add +2.1% 7.15% +0.71
ABBV Abbvie Inc. Add +6.0% 3.04% +0.32
AMD Advanced Micro Devices New 0.25% +0.25
AEM Agnico Eagle Mines Ltd. Add +15.7% 0.84% +0.24
SYK Stryker Corp. New 0.23% +0.23
JNJ Johnson & Johnson Add +8.4% 2.11% +0.21
QQQ Invesco QQQ Trust Series 1 New 0.16% +0.16
CSCO Cisco Systems Inc. Add +591.2% 0.18% +0.15
GLD SPDR Gold Shares Add +5.2% 2.03% +0.07
PANW Palo Alto Networks Inc. New 0.07% +0.07
SLV iShares Silver Trust Add +33.1% 0.19% +0.06
AMT American Tower Corp. New 0.04% +0.04
BHP BHP Group Ltd.-Spon ADR Add +4.9% 1.28% +0.04
DORM Dorman Products Inc. New 0.03% +0.03
AGI Alamos Gold Inc. Class A New 0.03% +0.03
REZI Resideo Technologies Inc. New 0.03% +0.03
ACMR Acm Research Inc. Class A New 0.03% +0.03
CMA Comerica Inc. New 0.03% +0.03
CCJ Cameco Corp. New 0.03% +0.03
WDOFF Wesdome Gold Mines Ltd. Add +100.3% 0.06% +0.03
RTX RTX Corp. New 0.02% +0.02
BDX Becton Dickinson and Co. Add +15.2% 0.44% +0.02
GD General Dynamics Corp. New 0.02% +0.02
OVV Ovintiv Inc. New 0.02% +0.02
GS Goldman Sachs Group Inc. Add +9.7% 0.48% +0.02
JPM JPMorgan Chase & Co. Add +10.4% 0.79% +0.01
NVDA Nvidia Corp. Add +17.9% 0.07% +0.01
DELL Dell Technologies -C Add +10.0% 0.13% +0.01
TMO Thermo Fisher Scientific Inc. Add +3.9% 0.06% +0.00
VLTO Veralto Corp. Add +13.9% 0.07% +0.00
HII Huntington Ingalls Industrie Add +1.5% 0.04% +0.00
PCT Purecycle Technologies Inc. Add +9.2% 0.04% −0.01
IVV iShares Core S&P 500 ETF Add +6.4% 0.18% −0.01
QUAL iShares MSCI USA Quality Fac Add +0.7% 0.13% −0.01
ADBE Adobe Inc. Add +19.7% 0.22% −0.02
SPY SS SPDR S&P 500 ETF Trust-US Add +1.2% 0.26% −0.02
MCD McDonald's Corp. Add +0.2% 0.17% −0.02
CVS CVS Health Corp. Add +3.4% 0.50% −0.02
KVUE Kenvue Inc. Add +12.0% 0.07% −0.02
COP Conocophillips Add +5.9% 0.65% −0.04
XOM Exxon Mobil Corp. Add +4.0% 0.53% −0.05
META Meta Platforms Inc. Class A Add +6.3% 0.42% −0.05
CPAY Corpay Inc. Add +12.3% 0.25% −0.05
UNH Unitedhealth Group Inc. Add +0.7% 1.22% −0.08
AMZN Amazon.com Inc. Add +13.5% 1.90% −0.08
MA Mastercard Inc. Class A Add +3.3% 0.64% −0.08
DHR Danaher Corp. Add +6.2% 0.82% −0.09

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