Callahan Advisors, LLC

RIA/Wealth

Callahan Advisors, LLC is a RIA/Wealth based in Steamboat Springs, CO led by David Bruce Shepard, managing $1.2B across 168 long positions as of Q3 2025 with META as the largest holding (6% allocation).

PresidentDavid Bruce Shepard

Portfolio Value: $1.2B
Positions: 168
Top Holding: META at 6.35%
Last Reported: Q3 2025

Address1169 Hilltop Pkwy, 106a, Steamboat Springs, CO, 80487-2523, United States

Top Holdings

Largest long holdings in Callahan Advisors, LLC's portfolio (37.5% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Meta Platforms, Inc. META	Internet Content & Information Communication Services	$74.8M	6.35%	-$356.2K Sold	0.00% 101.9K shares	Q3 2014 Held for 11y 2m
2 Alphabet Inc. GOOG	Internet Content & Information Communication Services	$66.8M	5.67%	+$458.8K Bought	0.00% 274.3K shares	Q2 2014 Held for 11y 5m
3 Microsoft MSFT	Software - Infrastructure Technology	$64.6M	5.49%	+$38.8K Bought	0.00% 124.7K shares	≤ Q2 2013 Held for 12y 5m+
4 Amazon AMZN	Specialty Retail Consumer Cyclical	$49.2M	4.18%	+$574.0K Bought	0.00% 224.0K shares	Q4 2015 Held for 9y 11m
5 Apple AAPL	Consumer Electronics Technology	$37.2M	3.16%	-$1.1M Sold	0.00% 146.1K shares	≤ Q2 2013 Held for 12y 5m+
6 Brookfield BN	Asset Management Financial Services	$32.7M	2.77%	-$332.1K Sold	0.03% 476.2K shares	Q1 2023 Held for 2y 8m
7 JPMorgan Chase JPM	Banks - Diversified Financial Services	$30.9M	2.62%	-$378.2K Sold	0.00% 97.8K shares	≤ Q2 2013 Held for 12y 5m+
8 Berkshire Hathaway BRK.B	Insurance - Diversified Financial Services	$29.6M	2.51%	+$261.9K Bought	0.00% 58.9K shares	Q4 2019 Held for 5y 11m
9 Nvidia NVDA	Semiconductors Technology	$29.4M	2.49%	+$1.5M Bought	0.00% 157.3K shares	Q1 2023 Held for 2y 8m
10 Chubb CB	Insurance - Property & Casualty Financial Services	$27.0M	2.29%	+$542.2K Bought	0.02% 95.6K shares	≤ Q2 2013 Held for 12y 5m+

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Callahan Advisors, LLC's latest filing

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Market Value

$1.2B

Prior: $1.1B

Q/Q Change

+5.81%

+$64.7M

Net Flows % of MV

+0.371%

Turnover Ratio

2.07%

New Purchases

1 stocks

$1.3M

Added To

74 stocks

+$25.0M

Sold Out Of

8 stocks

$3.2M

Reduced Holdings

65 stocks

-$18.8M

Increased Positions

Position	Shares Δ	Change
1 Kenvue KVUE	New	0 → 80.5K +$1.3M
2 SPDR S&P 500 ETF Trust SPY	+92.96%	1.7K → 3.3K +$1.1M
3 Permian Resources PR	+39.81%	15.1K → 21.1K +$76.9K
4 Bank of Nova Scotia BNS	+32.17%	5.9K → 7.8K +$122.5K
5 Invesco QQQ Trust QQQ	+25.92%	463.0 → 583.0 +$72.0K

Decreased Positions

Position	Shares Δ	Change
1 MarketAxess MKTX	Sold	5.5K → 0 −$1.2M
2 Dow DOW	Sold	27.1K → 0 −$718.9K
3 Comstock Resources CRK	Sold	9.0K → 0 −$249.0K
4 Palo Alto Networks, Inc. PANW	Sold	1.1K → 0 −$216.9K
5 Intercontinental Exchange ICE	Sold	1.1K → 0 −$205.5K

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Analytics

Portfolio insights and performance metrics for Callahan Advisors, LLC

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Sector Allocation

Technology

18.40%

Financial Services

15.20%

Communication Services

13.80%

Healthcare

12.40%

Consumer Cyclical

10.20%

Industrials

9.90%

Energy

6.60%

Consumer Defensive

5.40%

Utilities

2.30%

Basic Materials

1.80%

Real Estate

1.10%

ETF

0.70%

Market Cap Distribution

Mega Cap (> $200B)

54.07%

Large Cap ($10B - $200B)

39.10%

Mid Cap ($2B - $10B)

2.61%

Small Cap ($300M - $2B)

0.63%

Micro Cap ($50M - $300M)

0.09%

Nano Cap (< $50M)

0.02%

N/A (ETF or Unknown)

3.46%

Portfolio Concentration

Top 10 Holdings %

37.54%

Top 20 Holdings %

55.19%

Top 50 Holdings %

83.67%

Top 100 Holdings %

97.17%