1y return+16.3%S&P 500 +20.9%
3y return+50.5%S&P 500 +68.5%
5y return+52.9%S&P 500 +74.5%
10y return+178.0%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $278 against $357 in the S&P 500.2
Callahan Advisors, LLCS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| GOOGAlphabet Inc Class C | $83.7M | 6.3% | −4.2% |
| METAMeta Platforms Inc Class A | $58.1M | 4.4% | +1.2% |
| AMZNAmazon Com Inc | $56.2M | 4.2% | |
| MSFTMicrosoft Corp | $47.2M | 3.6% | |
| AMATApplied Materials Inc | $44.3M | 3.3% | −8.8% |
| CATCaterpillar Inc | $42.1M | 3.2% | −10.9% |
| AAPLApple Inc | $40.9M | 3.1% | |
| NVDANVIDIA Corp | $35.7M | 2.7% | +4.2% |
| Chubb Ltd FCUSIP H1467J104 | $34.4M | 2.6% | +1.6% |
| JPMJPMorgan Chase & Co. | $31.0M | 2.3% | |
| BRK/BBerkshire Hathaway Cl B | $30.6M | 2.3% | +2.3% |
| BNBrookfield Corp | $30.2M | 2.3% | |
| A S M L Holding Nv NewCUSIP N07059210 | $28.2M | 2.1% | +5.0% |
| JNJJohnson & Johnson | $27.0M | 2.0% | −2.8% |
| LLYEli Lilly & Company | $26.1M | 2.0% | +8.1% |
| NEENextEra Energy, Inc | $25.4M | 1.9% | −4.3% |
| BKNGBooking Holdings Inc | $24.9M | 1.9% | +7.6% |
| TSMTaiwan Semiconductr Adrf | $23.5M | 1.8% | +19.0% |
| MAMastercard Inc | $20.7M | 1.6% | +6.6% |
| EQTEQT Corp | $20.7M | 1.6% | +3.9% |
| FTNTFortinet Inc | $20.4M | 1.5% | −1.9% |
| PEPPepsico Incorporated | $20.0M | 1.5% | +11.4% |
| MCDMcDonalds Corp | $19.1M | 1.4% | +10.3% |
| SYKStryker Corp | $18.8M | 1.4% | +20.8% |
| FDXFedEx Corporation | $18.6M | 1.4% | −2.8% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| AMATApplied Materials Inc | June 30, 2020 | +1096.1% | $44.3M |
| CATCaterpillar Inc | June 30, 2020 | +741.8% | $42.1M |
| URIUnited Rentals Inc | June 30, 2020 | +660.3% | $12.3M |
| NVDANVIDIA Corp | March 31, 2023 | +620.3% | $35.7M |
| FTNTFortinet Inc | September 30, 2020 | +552.0% | $20.4M |
| DYDycom Industries Inc | September 30, 2023 | +468.1% | $14.2M |
| GOOGAlphabet Inc Class C | June 30, 2020 | +399.9% | $83.7M |
| Eaton CorporationCUSIP G29183103 | June 30, 2020 | +387.1% | $11.0M |
| LLYEli Lilly & Company | December 31, 2021 | +334.2% | $26.1M |
| JPMJPMorgan Chase & Co. | June 30, 2020 | +248.0% | $31.0M |
Sold off last quarter
- Thomson Reuters CorpCUSIP 884903808 was $2.4M
- MRVLMarvell Tech Group was $278K
- Seabridge Gold IncCUSIP 811916105 was $276K
- ARLPAlliance Resource Par Lp was $221K
- ARAntero Resouces Corp was $212K
- VZVerizon Communications was $206K
- ARCCAres Capital Corp was $184K
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +9.9% | +14.8% |
| March 31, 2026 | −1.9% | −4.6% |
| December 31, 2025 | +2.4% | +2.4% |
| September 30, 2025 | +5.3% | +7.8% |
| June 30, 2025 | +5.7% | +10.5% |
| March 31, 2025 | −2.0% | −4.6% |
| December 31, 2024 | +0.4% | +2.1% |
| September 30, 2024 | +7.2% | +5.4% |
| June 30, 2024 | −0.2% | +4.0% |
| March 31, 2024 | +10.3% | +10.0% |
| December 31, 2023 | +8.6% | +11.2% |
| September 30, 2023 | −3.0% | −3.6% |
| June 30, 2023 | +6.4% | +8.3% |
| March 31, 2023 | +4.2% | +7.0% |
| December 31, 2022 | +7.0% | +7.1% |
| September 30, 2022 | −6.6% | −5.3% |
| June 30, 2022 | −14.0% | −16.5% |
| March 31, 2022 | −3.2% | −4.9% |
| December 31, 2021 | +11.0% | +10.7% |
| September 30, 2021 | −0.7% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Callahan Advisors, LLC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1395055&type=13F-HR&dateb=&owner=include&count=40CIK 1395055
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1395055/000114036126030698/Filed August 3, 2026 · accession 0001140361-26-030698