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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
+3.7%
1 Year Est. Return
+39.24%
3 Year Est. Return
+133.73%
5 Year Est. Return
+182.89%
10 Year Est. Return
–
AUM
$269M
AUM Growth
+$1.81M
Cap. Flow
-$3.39M
Cap. Flow %
-1.26%
Top 10 Hldgs %
46.24%
Holding
119
New
6
Increased
38
Reduced
49
Closed
12

Top Buys

Rank Stock Value
1
WHR icon
Whirlpool
WHR
+$2.47M
2
SN icon
SharkNinja
SN
+$821K
3
FWRG icon
First Watch Restaurant Group
FWRG
+$657K
4
MRP
Millrose Properties Inc
MRP
+$630K
5
CXW icon
CoreCivic
CXW
+$596K

Top Sells

Rank Stock Value
1
ETD icon
Ethan Allen Interiors
ETD
+$1.85M
2
WULF icon
TeraWulf
WULF
+$1.13M
3
KEX icon
Kirby Corp
KEX
+$1.05M
4
SPOT icon
Spotify
SPOT
+$937K
5
CLF icon
Cleveland-Cliffs
CLF
+$657K

Sector Composition

Rank Sector Weight
1 Technology 31.27%
2 Energy 12.95%
3 Consumer Discretionary 11.08%
4 Industrials 10.89%
5 Financials 9.53%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KEX icon
26
Kirby Corp
KEX
$7.77B
$2.89M 1.07%
26,190
-10,335
-28% -$1.05M
RHP icon
27
Ryman Hospitality Properties
RHP
$8.58B
$2.87M 1.07%
30,340
+4,290
+16% +$396K
TSM icon
28
TSMC
TSM
$2.03T
$2.77M 1.03%
9,123
+228
+3% +$66.9K
WHR icon
29
Whirlpool
WHR
$2.49B
$2.75M 1.02%
38,104
+33,476
+723% +$2.47M
UNH icon
30
UnitedHealth
UNH
$389B
$2.54M 0.94%
7,687
+46
+0.6% +$15.6K
VST icon
31
Vistra
VST
$50.1B
$2.54M 0.94%
15,720
-1,779
-10% -$324K
JNJ icon
32
Johnson & Johnson
JNJ
$643B
$2.38M 0.89%
11,497
+501
+5% +$99.1K
GOOG icon
33
Alphabet (Google) Class C
GOOG
$4.07T
$2.24M 0.83%
7,145
+1,540
+27% +$441K
COST icon
34
Costco
COST
$429B
$2.16M 0.8%
2,502
-153
-6% -$139K
WULF icon
35
TeraWulf
WULF
$8.47B
$2.07M 0.77%
180,000
-84,000
-32% -$1.13M
CSWC icon
36
Capital Southwest
CSWC
$1.48B
$1.99M 0.74%
89,911
+5,880
+7% +$124K
BAC icon
37
Bank of America
BAC
$439B
$1.98M 0.74%
36,070
-204
-0.6% -$10.8K
T icon
38
AT&T
T
$169B
$1.89M 0.7%
76,093
-3,589
-5% -$90.9K
WFC icon
39
Wells Fargo
WFC
$263B
$1.84M 0.69%
19,786
-48
-0.2% -$4.17K
MTZ icon
40
MasTec
MTZ
$24.7B
$1.82M 0.68%
8,350
+200
+2% +$42K
AXP icon
41
American Express
AXP
$227B
$1.78M 0.66%
4,799
+25
+0.5% +$8.95K
XEL icon
42
Xcel Energy
XEL
$50.1B
$1.75M 0.65%
23,736
-796
-3% -$62.8K
CMC icon
43
Commercial Metals
CMC
$7.8B
$1.62M 0.6%
23,382
-191
-0.8% -$12K
UPS icon
44
United Parcel Service
UPS
$89.7B
$1.55M 0.58%
15,583
+811
+5% +$75.9K
PLTR icon
45
Palantir
PLTR
$296B
$1.52M 0.57%
8,578
+359
+4% +$65K
IBM icon
46
IBM
IBM
$214B
$1.48M 0.55%
5,010
-99
-2% -$29.6K
BANC icon
47
Banc of California
BANC
$3.27B
$1.4M 0.52%
72,825
+3,250
+5% +$58.2K
AMGN icon
48
Amgen
AMGN
$212B
$1.33M 0.49%
4,053
-99
-2% -$31.4K
AEP icon
49
American Electric Power
AEP
$72.4B
$1.26M 0.47%
10,923
-124
-1% -$14.6K
MRK icon
50
Merck
MRK
$326B
$1.12M 0.42%
10,671
+162
+2% +$15.2K
1
2
3 4 5

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First Dallas Securities's Q4 2025 Portfolio in Review

As of Q4 2025, First Dallas Securities held 119 positions worth $269M, up 0.68% from $267M the previous quarter. Its ten largest holdings account for 46% of the portfolio.

First Dallas Securities's Q4 2025 filing shows 6 new, 38 increased, 49 reduced and 12 closed positions. Its largest new stake was First Watch Restaurant Group: 39,000 shares worth $588K. The largest sale was Ethan Allen Interiors, an estimated $1.85M.

By sector, the portfolio is most concentrated in Technology at 31% of assets, down from 32% a quarter earlier, followed by Energy and Consumer Discretionary.

  • First Dallas Securities's largest Q4 2025 buy was First Watch Restaurant Group: 39,000 shares worth $588K.
  • First Dallas Securities added most to Whirlpool in Q4 2025, an estimated $2.47M increase.
  • First Dallas Securities's biggest Q4 2025 reduction was Ethan Allen Interiors, cutting an estimated $1.85M.
  • First Dallas Securities fully exited Spotify in Q4 2025, selling an estimated $937K.
  • First Dallas Securities's ten largest holdings make up 46% of its $269M portfolio in Q4 2025.
  • First Dallas Securities opened 6 new positions and closed 12 in Q4 2025.
  • First Dallas Securities's portfolio value rose 0.68% quarter-over-quarter to $269M.

Based on First Dallas Securities's 13F filing for Q4 2025, filed 11 Feb 2026.