# EDGAR Filing Document

**Accession Number:** 0001054425
**File Stem:** 0001054425-25-000005
**Filing Date:** 2025-10
**Character Count:** 10556
**Document Hash:** b1c58bde5313eab1938e85cf41ddf882
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001054425-25-000005.hdr.sgml**: 20251028

**ACCESSION NUMBER**: 0001054425-25-000005

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251028

**DATE AS OF CHANGE**: 20251028

**EFFECTIVENESS DATE**: 20251028

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DILLON & ASSOCIATES INC
- **CENTRAL INDEX KEY:** 0001054425

**ORGANIZATION NAME:**
- **EIN:** 382772510
- **STATE OF INCORPORATION:** MI
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-03631
- **FILM NUMBER:** 251422206

**BUSINESS ADDRESS:**
- **STREET 1:** PO BOX 1347
- **CITY:** JACKSON
- **STATE:** MI
- **ZIP:** 49204
- **BUSINESS PHONE:** 5177967090

**MAIL ADDRESS:**
- **STREET 1:** PO BOX 1347
- **CITY:** JACKSON
- **STATE:** MI
- **ZIP:** 49204

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** DILLON  ASSOCIATES INC<br>**Address:** PO BOX 1347<br>JACKSON, MI 49204

**Form 13F File Number:** 028-03631

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Marni L Oliver<br>**Title:** Account Administrator<br>**Phone:** 5177967090

**Signature, Place, and Date of Signing:**

Marni L Oliver  JACKSON, MI  10-28-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 76

**Form 13F Information Table Value Total:** $777745

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| Abbott Laboratories | COMM | 002824100 |  | 29780 | 222241 | SH |  | OTR |  | 17100 | 0 | 205141 |
| AbbVie Inc | COMM | 00287Y109 |  | 1640 | 7071 | SH |  | OTR |  | 1500 | 0 | 5571 |
| Adobe Inc | COMM | 00724F101 |  | 1123 | 3181 | SH |  | OTR |  | 500 | 0 | 2681 |
| AFLAC Inc | COMM | 001055102 |  | 370 | 3300 | SH |  | OTR |  | 0 | 0 | 3300 |
| Air Products  Chemicals | COMM | 009158106 |  | 15602 | 57151 | SH |  | OTR |  | 3665 | 0 | 53486 |
| Alphabet Inc Cl A | COMM | 02079K305 |  | 47266 | 194512 | SH |  | OTR |  | 14060 | 0 | 180452 |
| Alphabet Inc Cl C | COMM | 02079K107 |  | 14760 | 60490 | SH |  | OTR |  | 6480 | 0 | 54010 |
| Amazon.com Inc | COMM | 023135106 |  | 21242 | 96553 | SH |  | OTR |  | 5510 | 0 | 91043 |
| Amgen Inc | COMM | 031162100 |  | 700 | 2483 | SH |  | OTR |  | 200 | 0 | 2283 |
| Analog Devices | COMM | 032654105 |  | 1031 | 4193 | SH |  | OTR |  | 0 | 0 | 4193 |
| Apple Inc | COMM | 037833100 |  | 65633 | 257384 | SH |  | OTR |  | 23006 | 0 | 234378 |
| ASML Holding NV | COMM | N07059210 |  | 1364 | 1409 | SH |  | OTR |  | 0 | 0 | 1409 |
| AstraZeneca PLC | COMM | 046353108 |  | 1942 | 25221 | SH |  | OTR |  | 350 | 0 | 24871 |
| Automatic Data Proc | COMM | 053015103 |  | 20275 | 68961 | SH |  | OTR |  | 5949 | 0 | 63012 |
| Berkshire Hathaway Cl B | COMM | 084670702 |  | 263 | 522 | SH |  | OTR |  | 0 | 0 | 522 |
| Canadian Nat'l Railway | COMM | 136375102 |  | 6941 | 73843 | SH |  | OTR |  | 9200 | 0 | 64643 |
| Capital One Fin'l | COMM | 14040H105 |  | 320 | 1502 | SH |  | OTR |  | 0 | 0 | 1502 |
| Casey's General Stores | COMM | 147528103 |  | 14541 | 25737 | SH |  | OTR |  | 1478 | 0 | 24259 |
| Celsius Holdings Inc | COMM | 15118V207 |  | 1481 | 25977 | SH |  | OTR |  | 650 | 0 | 25327 |
| Chipotle Mexican Grill | COMM | 169656105 |  | 12159 | 311770 | SH |  | OTR |  | 19250 | 0 | 292520 |
| Cisco Systems | COMM | 17275R102 |  | 368 | 5413 | SH |  | OTR |  | 0 | 0 | 5413 |
| Coca-Cola Co | COMM | 191216100 |  | 246 | 3724 | SH |  | OTR |  | 200 | 0 | 3524 |
| Colgate-Palmolive | COMM | 194162103 |  | 2329 | 29117 | SH |  | OTR |  | 3700 | 0 | 25417 |
| Constellation Brands Inc | COMM | 21036P108 |  | 314 | 2325 | SH |  | OTR |  | 0 | 0 | 2325 |
| Costco Wholesale Corp | COMM | 22160K105 |  | 10582 | 11428 | SH |  | OTR |  | 650 | 0 | 10778 |
| Danaher Corporation | COMM | 235851102 |  | 10754 | 54312 | SH |  | OTR |  | 2590 | 0 | 51722 |
| Disney Walt Co | COMM | 254687106 |  | 573 | 5030 | SH |  | OTR |  | 0 | 0 | 5030 |
| Eaton Corp PLC | COMM | G29183103 |  | 7772 | 20782 | SH |  | OTR |  | 130 | 0 | 20652 |
| Ecolab Inc | COMM | 278865100 |  | 14309 | 52224 | SH |  | OTR |  | 5495 | 0 | 46729 |
| Emerson Electric | COMM | 291011104 |  | 420 | 3208 | SH |  | OTR |  | 0 | 0 | 3208 |
| Enbridge Inc | COMM | 29250N105 |  | 254 | 5087 | SH |  | OTR |  | 0 | 0 | 5087 |
| Fiserv Inc | COMM | 337738108 |  | 12011 | 93105 | SH |  | OTR |  | 5200 | 0 | 87905 |
| Generac Holdings Inc | COMM | 368736104 |  | 1907 | 11420 | SH |  | OTR |  | 500 | 0 | 10920 |
| Hershey Company | COMM | 427866108 |  | 464 | 2483 | SH |  | OTR |  | 0 | 0 | 2483 |
| Home Depot | COMM | 437076102 |  | 4505 | 11124 | SH |  | OTR |  | 0 | 0 | 11124 |
| Honeywell Int'l | COMM | 438516106 |  | 1441 | 6861 | SH |  | OTR |  | 0 | 0 | 6861 |
| ImmunityBio Inc | COMM | 45256X103 |  | 52 | 25800 | SH |  | OTR |  | 0 | 0 | 25800 |
| Intuitive Surgical | COMM | 46120E602 |  | 12728 | 28474 | SH |  | OTR |  | 1590 | 0 | 26884 |
| Johnson  Johnson | COMM | 478160104 |  | 4441 | 24007 | SH |  | OTR |  | 2625 | 0 | 21382 |
| JP Morgan Chase  Co | COMM | 46625H100 |  | 4950 | 15715 | SH |  | OTR |  | 850 | 0 | 14865 |
| Kellanova | COMM | 487836108 |  | 329 | 4010 | SH |  | OTR |  | 0 | 0 | 4010 |
| Lilly (Eli) | COMM | 532457108 |  | 4557 | 5973 | SH |  | OTR |  | 297 | 0 | 5676 |
| Linde PLC | COMM | G54950103 |  | 236 | 497 | SH |  | OTR |  | 0 | 0 | 497 |
| Lowe's Companies Inc | COMM | 548661107 |  | 18715 | 74562 | SH |  | OTR |  | 4630 | 0 | 69932 |
| Marsh  McLennan | COMM | 571748102 |  | 367 | 1817 | SH |  | OTR |  | 0 | 0 | 1817 |
| McDonald's Corp | COMM | 580135101 |  | 2850 | 9374 | SH |  | OTR |  | 300 | 0 | 9074 |
| Meta Platforms Inc | COMM | 30303M102 |  | 8951 | 12195 | SH |  | OTR |  | 25 | 0 | 12170 |
| Microsoft Corp | COMM | 594918104 |  | 9175 | 17712 | SH |  | OTR |  | 1786 | 0 | 15926 |
| Mondelez Int'l | COMM | 609207105 |  | 804 | 12975 | SH |  | OTR |  | 0 | 0 | 12975 |
| Monster Beverage Corp | COMM | 61174X109 |  | 2821 | 42102 | SH |  | OTR |  | 2210 | 0 | 39892 |
| NextEra Energy Inc | COMM | 65339F101 |  | 5147 | 68631 | SH |  | OTR |  | 0 | 0 | 68631 |
| Norfolk Southern Corp | COMM | 655844108 |  | 14488 | 48292 | SH |  | OTR |  | 2565 | 0 | 45727 |
| Novartis AG ADS | COMM | 66987V109 |  | 285 | 2227 | SH |  | OTR |  | 600 | 0 | 1627 |
| Novo-Nordisk A-S ADR | COMM | 670100205 |  | 17155 | 311900 | SH |  | OTR |  | 21950 | 0 | 289950 |
| NVIDIA Corp | COMM | 67066G104 |  | 170611 | 912357 | SH |  | OTR |  | 63770 | 0 | 848587 |
| O'Reilly Automotive Inc | COMM | 67103H107 |  | 20674 | 191426 | SH |  | OTR |  | 11100 | 0 | 180326 |
| Palantir Technologies Inc | COMM | 69608A108 |  | 238 | 1305 | SH |  | OTR |  | 0 | 0 | 1305 |
| Palo Alto Networks | COMM | 697435105 |  | 23286 | 114149 | SH |  | OTR |  | 6910 | 0 | 107239 |
| Paychex Inc | COMM | 704326107 |  | 5969 | 46997 | SH |  | OTR |  | 3800 | 0 | 43197 |
| Paycom Software | COMM | 70432V102 |  | 14176 | 68153 | SH |  | OTR |  | 5335 | 0 | 62818 |
| PepsiCo Inc | COMM | 713448108 |  | 5046 | 36041 | SH |  | OTR |  | 3850 | 0 | 32191 |
| Procter  Gamble | COMM | 742718109 |  | 2813 | 18268 | SH |  | OTR |  | 1950 | 0 | 16318 |
| QUALCOMM Inc | COMM | 747525103 |  | 1060 | 6383 | SH |  | OTR |  | 1545 | 0 | 4838 |
| Regeneron Pharmaceuticals | COMM | 75886F107 |  | 2752 | 4897 | SH |  | OTR |  | 682 | 0 | 4215 |
| Rockwell Automation inc | COMM | 773903109 |  | 344 | 984 | SH |  | OTR |  | 0 | 0 | 984 |
| RTX Corp | COMM | 75513E101 |  | 6376 | 38180 | SH |  | OTR |  | 5680 | 0 | 32500 |
| Salesforce.com | COMM | 79466L302 |  | 7244 | 30567 | SH |  | OTR |  | 1020 | 0 | 29547 |
| Starbucks Corp | COMM | 855244109 |  | 6974 | 82042 | SH |  | OTR |  | 4800 | 0 | 77242 |
| Strategy Inc | COMM | 594972408 |  | 517 | 1605 | SH |  | OTR |  | 0 | 0 | 1605 |
| Stryker Corp | COMM | 863667101 |  | 31367 | 84777 | SH |  | OTR |  | 6625 | 0 | 78152 |
| Sysco Corp | COMM | 871829107 |  | 1216 | 14830 | SH |  | OTR |  | 4400 | 0 | 10430 |
| Tesla Motors Inc | COMM | 88160R101 |  | 385 | 865 | SH |  | OTR |  | 0 | 0 | 865 |
| UnitedHealth Group Inc | COMM | 91324P102 |  | 384 | 1113 | SH |  | OTR |  | 0 | 0 | 1113 |
| U S Bancorp | COMM | 902973304 |  | 248 | 5176 | SH |  | OTR |  | 0 | 0 | 5176 |
| Visa Inc | COMM | 92826C839 |  | 39643 | 116256 | SH |  | OTR |  | 8625 | 0 | 107631 |
| Wal-Mart Stores | COMM | 931142103 |  | 1689 | 16397 | SH |  | OTR |  | 0 | 0 | 16397 |

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