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FDS

First Dallas Securities Portfolio holdings

AUM $270M
1-Year Est. Return 39.24%
This Fund
S&P 500
This Quarter Est. Return
+9.83%
1 Year Est. Return
+39.24%
3 Year Est. Return
+133.73%
5 Year Est. Return
+182.89%
10 Year Est. Return
–
AUM
$267M
AUM Growth
+$13.9M
Cap. Flow
-$2.32M
Cap. Flow %
-0.87%
Top 10 Hldgs %
47.24%
Holding
127
New
4
Increased
42
Reduced
48
Closed
14

Top Buys

Rank Stock Value
1
UNH icon
UnitedHealth
UNH
+$2.31M
2
RHP icon
Ryman Hospitality Properties
RHP
+$1.3M
3
MRP
Millrose Properties Inc
MRP
+$1.14M
4
LLY icon
Eli Lilly
LLY
+$1.12M
5
GEO icon
The GEO Group
GEO
+$1.06M

Top Sells

Rank Stock Value
1
WYNN icon
Wynn Resorts
WYNN
+$3.45M
2
IBM icon
IBM
IBM
+$2.02M
3
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$1.41M
4
TPL icon
Texas Pacific Land
TPL
+$1.34M
5
DVN icon
Devon Energy
DVN
+$754K

Sector Composition

Rank Sector Weight
1 Technology 32.07%
2 Energy 13.67%
3 Consumer Discretionary 10.34%
4 Industrials 10.14%
5 Financials 9.47%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WULF icon
26
TeraWulf
WULF
$8.47B
$3.01M 1.13%
264,000
+131,500
+99% +$1M
EXE
27
Expand Energy Corp
EXE
$21.2B
$3.01M 1.13%
28,340
+2,677
+10% +$269K
C icon
28
Citigroup
C
$222B
$2.77M 1.04%
27,291
-1,072
-4% -$102K
UNH icon
29
UnitedHealth
UNH
$389B
$2.64M 0.99%
+7,641
New +$2.31M
TSM icon
30
TSMC
TSM
$2.03T
$2.48M 0.93%
8,895
-2,800
-24% -$685K
COST icon
31
Costco
COST
$429B
$2.46M 0.92%
2,655
-48
-2% -$46K
RHP icon
32
Ryman Hospitality Properties
RHP
$8.58B
$2.33M 0.87%
26,050
+13,275
+104% +$1.3M
T icon
33
AT&T
T
$169B
$2.25M 0.84%
79,682
-5,656
-7% -$161K
MU icon
34
Micron Technology
MU
$927B
$2.12M 0.79%
12,655
-1,050
-8% -$134K
JNJ icon
35
Johnson & Johnson
JNJ
$643B
$2.04M 0.76%
10,996
+423
+4% +$72.5K
XEL icon
36
Xcel Energy
XEL
$50.1B
$1.98M 0.74%
24,532
-596
-2% -$43.1K
BAC icon
37
Bank of America
BAC
$439B
$1.87M 0.7%
36,274
-4,688
-11% -$229K
CSWC icon
38
Capital Southwest
CSWC
$1.48B
$1.84M 0.69%
84,031
+6,929
+9% +$158K
MTZ icon
39
MasTec
MTZ
$24.7B
$1.73M 0.65%
8,150
-200
-2% -$36.6K
WFC icon
40
Wells Fargo
WFC
$263B
$1.66M 0.62%
19,834
+1,154
+6% +$93.6K
HPE icon
41
Hewlett Packard
HPE
$60.4B
$1.6M 0.6%
65,178
+16,352
+33% +$362K
AXP icon
42
American Express
AXP
$227B
$1.59M 0.59%
4,774
-99
-2% -$31.5K
PLTR icon
43
Palantir
PLTR
$296B
$1.5M 0.56%
8,219
-900
-10% -$146K
IBM icon
44
IBM
IBM
$214B
$1.44M 0.54%
5,109
-7,719
-60% -$2.02M
GOOG icon
45
Alphabet (Google) Class C
GOOG
$4.07T
$1.37M 0.51%
5,605
+4,010
+251% +$843K
CMC icon
46
Commercial Metals
CMC
$7.8B
$1.35M 0.51%
23,573
-3,219
-12% -$178K
GEO icon
47
The GEO Group
GEO
$4.11B
$1.29M 0.48%
62,935
+46,200
+276% +$1.06M
AEP icon
48
American Electric Power
AEP
$72.4B
$1.24M 0.47%
11,047
-74
-0.7% -$8.1K
UPS icon
49
United Parcel Service
UPS
$89.7B
$1.23M 0.46%
14,772
+1,052
+8% +$95.3K
VZ icon
50
Verizon
VZ
$201B
$1.2M 0.45%
27,281
-343
-1% -$14.8K
1
2
3 4 5

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First Dallas Securities's Q3 2025 Portfolio in Review

As of Q3 2025, First Dallas Securities held 127 positions worth $267M, up 5.5% from $253M the previous quarter. Its ten largest holdings account for 47% of the portfolio.

First Dallas Securities's Q3 2025 filing shows 4 new, 42 increased, 48 reduced and 14 closed positions. Its largest new stake was UnitedHealth: 7,641 shares worth $2.64M. The largest sale was Wynn Resorts, an estimated $3.45M.

By sector, the portfolio is most concentrated in Technology at 32% of assets, up from 30% a quarter earlier, followed by Energy and Consumer Discretionary.

  • First Dallas Securities's largest Q3 2025 buy was UnitedHealth: 7,641 shares worth $2.64M.
  • First Dallas Securities added most to Ryman Hospitality Properties in Q3 2025, an estimated $1.3M increase.
  • First Dallas Securities's biggest Q3 2025 reduction was IBM, cutting an estimated $2.02M.
  • First Dallas Securities fully exited Wynn Resorts in Q3 2025, selling an estimated $3.45M.
  • First Dallas Securities's ten largest holdings make up 47% of its $267M portfolio in Q3 2025.
  • First Dallas Securities opened 4 new positions and closed 14 in Q3 2025.
  • First Dallas Securities's portfolio value rose 5.5% quarter-over-quarter to $267M.

Based on First Dallas Securities's 13F filing for Q3 2025, filed 5 Nov 2025.