CIK: 0001395055
Total reported value
$1.2B
Reporting period: 2026-03-31 · Number of holdings: 177
Callahan Advisors, LLC disclosed 177 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $1.2B and a quarterly turnover rate of 16.7%.
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Callahan Advisors, LLC's disclosed holdings carry a Herfindahl concentration index of 0.020 — mathematically equivalent to about 49 equally-sized positions, well below its 177 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.62), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Trim MSFT
+1.2% -$13.6M
Trim GOOG
-6.0% -$11.6M
Trim META
+0.2% -$8.8M
Add NFLX
+139.0% $6.1M
Add XOM
-3.2% $5.8M
Trim CRM
-37.2% -$5.4M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 5.92% | -0.87% | -6.02% | |
| 2 | META | Meta Platforms Inc-class A | Stock-Comm Services | 4.86% | -0.65% | +0.19% | |
| 3 | AMZN | Amazon.com INC | Stock-Consumer Disc | 4.06% | -0.23% | +3.47% | |
| 4 | MSFT | Microsoft CORP | Stock-Tech | 3.90% | -1.06% | +1.17% | |
| 5 | AAPL | Apple INC | Stock-Tech | 2.98% | -0.18% | -0.54% | |
| 6 | CB | Chubb Limited | Stock-Financials | 2.70% | +0.20% | +2.04% | |
| 7 | CAT | Caterpillar INC | Stock-Industrials | 2.63% | +0.23% | -12.64% | |
| 8 | NVDA | Nvidia CORP | Stock-Tech | 2.49% | — | +5.25% | |
| 9 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 2.39% | — | +0.72% | |
| 10 | BN | Brookfield CORP | Stock-Financials | 2.38% | -0.27% | +0.25% | |
| 11 | NEE | Nextera Energy INC | Stock-Utilities | 2.35% | +0.22% | -6.09% | |
| 12 | JPM | Jpmorgan Chase & Co | Stock-Financials | 2.34% | -0.22% | -1.21% | |
| 13 | JNJ | Johnson & Johnson | Stock-Healthcare | 2.23% | +0.18% | -9.19% | |
| 14 | EQT | Eqt CORP | Stock-Energy | 1.99% | +0.41% | +4.43% | |
| 15 | AMAT | Applied Materials INC | Stock-Tech | 1.91% | +0.35% | -9.25% | |
| 16 | BKNG | Booking Holdings INC | Stock-Consumer Disc | 1.83% | -0.21% | +12.32% | |
| 17 | XOM | Exxon Mobil CORP | Stock-Energy | 1.83% | +0.51% | -3.23% | |
| 18 | FDX | Fedex CORP | Stock-Industrials | 1.82% | +0.28% | -5.61% | |
| 19 | PEP | Pepsico INC | Stock-Consumer Staples | 1.72% | +0.18% | +1.87% | |
| 20 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 1.67% | — | +4.64% | |
| 21 | MA | Mastercard INC - A | Stock-Financials | 1.58% | — | +12.97% | |
| 22 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.55% | -0.14% | +5.22% | |
| 23 | ASML | ASML Holding N.V. | Stock-Tech | 1.49% | +0.33% | +2.29% | |
| 24 | WMT | Walmart INC | Stock-Consumer Staples | 1.40% | — | -6.14% | |
| 25 | CVX | Chevron CORP | Stock-Energy | 1.35% | +0.29% | -7.34% | |
| 26 | SYK | Stryker CORP | Stock-Healthcare | 1.35% | — | +2.48% | |
| 27 | PFE | Pfizer INC | Stock-Healthcare | 1.32% | — | -10.38% | |
| 28 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 1.20% | — | -1.06% | |
| 29 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 1.17% | +0.33% | +23.52% | |
| 30 | LOW | Lowe's Cos INC | Stock-Consumer Disc | 1.13% | — | -3.41% | |
| 31 | CTVA | Corteva INC | Stock-Materials | 0.95% | +0.18% | -1.93% | |
| 32 | FTNT | Fortinet INC | Stock-Tech | 0.92% | — | +0.07% | |
| 33 | UNH | Unitedhealth Group INC | Stock-Healthcare | 0.87% | -0.42% | -19.04% | |
| 34 | KMI | Kinder Morgan INC | Stock-Energy | 0.87% | +0.15% | -3.19% | |
| 35 | NFLX | Netflix INC | Stock-Comm Services | 0.86% | +0.51% | +139.04% | |
| 36 | STE | STERIS plc | Stock-Healthcare | 0.85% | -0.11% | -0.54% | |
| 37 | DY | Dycom Industries INC | Stock-Industrials | 0.80% | — | -6.26% | |
| 38 | ETN | Eaton Corporation plc | Stock-Industrials | 0.77% | — | -1.51% | |
| 39 | WELL | Welltower INC | Stock-Real Estate | 0.70% | — | -4.97% | |
| 40 | PAYX | Paychex INC | Stock-Tech | 0.68% | — | +11.06% | |
| 41 | URI | United Rentals INC | Stock-Industrials | 0.67% | — | -2.70% | |
| 42 | MSCI | Msci INC | Stock-Financials | 0.65% | +0.37% | +142.57% | |
| 43 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.65% | -0.09% | -6.19% | |
| 44 | ABT | Abbott Laboratories | Stock-Healthcare | 0.64% | -0.22% | -10.62% | |
| 45 | IQV | Iqvia Holdings INC | Stock-Healthcare | 0.63% | -0.17% | +3.13% | |
| 46 | CVS | Cvs Health CORP | Stock-Healthcare | 0.62% | — | +13.39% | |
| 47 | PRI | Primerica INC | Stock-Financials | 0.53% | +0.14% | +38.49% | |
| 48 | EXP | Eagle Materials INC | Stock-Materials | 0.51% | -0.25% | -27.31% | |
| 49 | ENB | Enbridge INC | Stock-Energy | 0.51% | — | -7.72% | |
| 50 | STEL | Stellar Bancorp INC | Stock-Other | 0.50% | — | -0.04% |
Performance for Q3 2026
+2.4%
Performance Last 4 Quarters
+24.3%
Based on 80% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 177 | $1.2B | 17 | |
| 2025-12-31 | 174 | $1.2B | 13 | |
| 2025-09-30 | 168 | $1.2B | 24 | |
| 2025-06-30 | 173 | $1.1B | 0 | |
| 2025-03-31 | 162 | $1.0B | 100 | |
| 2024-12-31 | 166 | $1.1B | 0 | |
| 2024-09-30 | 144 | $1.0B | 0 | |
| 2024-06-30 | 146 | $961.8M | 0 | |
| 2024-03-31 | 144 | $953.5M | 0 | |
| 2023-12-31 | 141 | $862.0M | 0 | |
| 2023-09-30 | 140 | $796.2M | 0 | |
| 2023-06-30 | 133 | $822.9M | 0 | |
| 2023-03-31 | 135 | $774.2M | 0 | |
| 2022-12-31 | 136 | $730.8M | 0 | |
| 2022-09-30 | 141 | $696.4M | 0 | |
| 2022-06-30 | 144 | $751.3M | 0 | |
| 2022-03-31 | 146 | $876.4M | 0 | |
| 2021-12-31 | 148 | $891.4M | 0 | |
| 2021-09-30 | 146 | $793.6M | 0 | |
| 2021-06-30 | 147 | $787.8M | 100 | |
| 2021-03-31 | 142 | $738.5M | 12 | |
| 2020-12-31 | 138 | $683.4M | 14 | |
| 2020-09-30 | 132 | $611.6M | 15 | |
| 2020-06-30 | 126 | $564.1M | 27 | |
| 2020-03-31 | 123 | $476.3M | 28 | |
| 2019-12-31 | 136 | $623.7M | 13 | |
| 2019-09-30 | 134 | $572.5M | 9 | |
| 2019-06-30 | 137 | $557.2M | 9 | |
| 2019-03-31 | 133 | $537.2M | 18 | |
| 2018-12-31 | 131 | $468.4M | 17 | |
| 2018-09-30 | 138 | $539.0M | 16 | |
| 2018-06-30 | 130 | $507.4M | 13 | |
| 2018-03-31 | 124 | $487.8M | 13 | |
| 2017-12-31 | 127 | $503.7M | 12 | |
| 2017-09-30 | 126 | $475.6M | 11 | |
| 2017-06-30 | 126 | $459.5M | 10 | |
| 2017-03-31 | 125 | $444.2M | 14 | |
| 2016-12-31 | 117 | $414.8M | 14 | |
| 2016-09-30 | 116 | $399.6M | 15 | |
| 2016-06-30 | 115 | $380.7M | 11 | |
| 2016-03-31 | 114 | $364.8M | 19 | |
| 2015-12-31 | 116 | $350.6M | 17 | |
| 2015-09-30 | 113 | $325.7M | 21 | |
| 2015-06-30 | 111 | $347.4M | 12 | |
| 2015-03-31 | 115 | $343.1M | 13 | |
| 2014-12-31 | 120 | $339.8M | 12 | |
| 2014-09-30 | 122 | $322.8M | 10 | |
| 2014-06-30 | 121 | $314.7M | 17 | |
| 2014-03-31 | 112 | $293.7M | 7 | |
| 2013-12-31 | 111 | $286.8M | 11 | |
| 2013-09-30 | 107 | $262.2M | 9 | |
| 2013-06-30 | 105 | $244.5M | — |
Callahan Advisors, LLC's most significant position changes for 2026-03-31: New buy: Blackrock Muniholdings Fund (MHD); New buy: Automatic Data Processing (ADP); Sold out: Unilever PLC (UL); New buy: Unilever Plc-sponsored Adr (UL); Sold out: BlackRock MuniHoldings Fund, Inc. (MHD).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | NFLX | Netflix INC | +0.5% | +139.04% | Add |
| 2 | XOM | Exxon Mobil CORP | +0.5% | -3.23% | Trim |
| 3 | EQT | Eqt CORP | +0.4% | +4.43% | Add |
| 4 | MSCI | Msci INC | +0.4% | +142.57% | Add |
| 5 | DVA | Davita INC | +0.4% | +266.34% | Add |
| 6 | AMAT | Applied Materials INC | +0.4% | -9.25% | Trim |
| 7 | TSM | Taiwan Semiconductor-sp Adr | +0.3% | +23.52% | Add |
| 8 | ASML | ASML Holding N.V. | +0.3% | +2.29% | Add |
| 9 | CVX | Chevron CORP | +0.3% | -7.34% | Trim |
| 10 | FDX | Fedex CORP | +0.3% | -5.61% | Trim |
| 11 | CLX | Clorox Company | +0.2% | +79.93% | Add |
| 12 | CAT | Caterpillar INC | +0.2% | -12.64% | Trim |
| 13 | NEE | Nextera Energy INC | +0.2% | -6.09% | Trim |
| 14 | GEV | GE Vernova INC | +0.2% | +48.61% | Add |
| 15 | CB | Chubb Limited | +0.2% | +2.04% | Add |
| 16 | MELI | Mercadolibre INC | +0.2% | +127.38% | Add |
| 17 | CTVA | Corteva INC | +0.2% | -1.93% | Trim |
| 18 | PEP | Pepsico INC | +0.2% | +1.87% | Add |
| 19 | JNJ | Johnson & Johnson | +0.2% | -9.19% | Trim |
| 20 | KMI | Kinder Morgan INC | +0.2% | -3.19% | Trim |
| 21 | PRI | Primerica INC | +0.1% | +38.49% | Add |
| 22 | GE | General Electric | +0.1% | +197.19% | Add |
| 23 | SLB | Slb LTD | +0.1% | -0.31% | Trim |
| 24 | GOOGL | Alphabet Inc-cl A | -0.1% | -6.19% | Trim |
| 25 | AXP | American Express Co | -0.1% | — | Unchanged |
| 26 | STE | STERIS plc | -0.1% | -0.54% | Trim |
| 27 | ACN | Accenture plc | -0.1% | +1.63% | Add |
| 28 | CTAS | Cintas CORP | -0.1% | -27.16% | Trim |
| 29 | NOW | Servicenow INC | -0.1% | -35.59% | Trim |
| 30 | LLY | Eli Lilly & Co | -0.1% | +5.22% | Add |
| 31 | IQV | Iqvia Holdings INC | -0.2% | +3.13% | Add |
| 32 | AAPL | Apple INC | -0.2% | -0.54% | Trim |
| 33 | WDAY | Workday Inc-class A | -0.2% | -74.25% | Trim |
| 34 | BKNG | Booking Holdings INC | -0.2% | +12.32% | Add |
| 35 | JPM | Jpmorgan Chase & Co | -0.2% | -1.21% | Trim |
| 36 | ABT | Abbott Laboratories | -0.2% | -10.62% | Trim |
| 37 | AMZN | Amazon.com INC | -0.2% | +3.47% | Add |
| 38 | EXP | Eagle Materials INC | -0.3% | -27.31% | Trim |
| 39 | BN | Brookfield CORP | -0.3% | +0.25% | Add |
| 40 | ADBE | Adobe INC | -0.4% | -41.97% | Trim |
| 41 | UNH | Unitedhealth Group INC | -0.4% | -19.04% | Trim |
| 42 | CRM | Salesforce INC | -0.4% | -37.19% | Trim |
| 43 | META | Meta Platforms Inc-class A | -0.7% | +0.19% | Add |
| 44 | GOOG | Alphabet Inc-cl C | -0.9% | -6.02% | Trim |
| 45 | MSFT | Microsoft CORP | -1.1% | +1.17% | Add |
| 46 | MHD | Blackrock Muniholdings Fund | — | NEW | New buy |
| 47 | ADP | Automatic Data Processing | — | NEW | New buy |
| 48 | UL | Unilever PLC | — | EXIT | Sold out |
| 49 | UL | Unilever Plc-sponsored Adr | — | NEW | New buy |
| 50 | MHD | BlackRock MuniHoldings Fund, Inc. | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-12 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-06 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-31 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-07-28 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-01 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-01-31 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-10-30 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-07-29 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-04-24 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-01-24 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-10-23 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-07-31 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-04-28 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-03 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | Amendment | View on EDGAR |
| 2022-09-30 | 2022-10-27 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-07-29 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-04-27 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-08 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-03 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-11 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-04-21 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-01-20 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-10-26 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-07-17 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-04-06 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-01-21 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-10-21 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-07-17 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-04-22 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-01-24 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-10-15 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-07-19 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-04-30 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-01-31 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-10-26 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-07-31 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-04-27 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-01-31 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-10-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-07-25 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-04-29 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-05 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-10-21 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-07-28 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-04-20 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-01-27 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-10-21 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-07-25 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-05 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-01-22 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-10-31 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-07-30 | 13F-HR | View on EDGAR |
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