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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
+5.19%
1 Year Est. Return
+39.24%
3 Year Est. Return
+133.73%
5 Year Est. Return
+182.89%
10 Year Est. Return
–
AUM
$160M
AUM Growth
+$3.66M
Cap. Flow
-$8.64M
Cap. Flow %
-5.4%
Top 10 Hldgs %
45.79%
Holding
108
New
5
Increased
39
Reduced
48
Closed
7

Top Buys

Rank Stock Value
1
X
US Steel
X
+$1.83M
2
USCR
U S Concrete, Inc.
USCR
+$1.08M
3
ENLC
ENLINK MIDSTREAM, LLC
ENLC
+$774K
4
CMC icon
Commercial Metals
CMC
+$716K
5
LTXB
LegacyTexas Financial Group Inc
LTXB
+$682K

Top Sells

Rank Stock Value
1
WIRE
Encore Wire Corp
WIRE
+$863K
2
TPL icon
Texas Pacific Land
TPL
+$849K
3
CSCO icon
Cisco
CSCO
+$657K
4
TPR icon
Tapestry
TPR
+$477K
5
CLF icon
Cleveland-Cliffs
CLF
+$460K

Sector Composition

Rank Sector Weight
1 Energy 21.58%
2 Industrials 17.18%
3 Financials 7.46%
4 Consumer Discretionary 6.35%
5 Healthcare 5.47%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TRN icon
51
Trinity Industries
TRN
$3.03B
$625K 0.39%
23,681
+10,037
+74% +$263K
SO icon
52
Southern Company
SO
$109B
$622K 0.39%
14,257
+352
+3% +$16.2K
PE
53
DELISTED
PARSLEY ENERGY INC
PE
$589K 0.37%
20,150
-450
-2% -$13.4K
MRK icon
54
Merck
MRK
$326B
$581K 0.36%
8,579
+1
+0% +$64
UAL icon
55
United Airlines
UAL
$40.2B
$568K 0.35%
6,375
-2,300
-27% -$190K
BP icon
56
BP
BP
$107B
$542K 0.34%
12,322
-173
-1% -$7.23K
MTDR icon
57
Matador Resources
MTDR
$5.73B
$541K 0.34%
16,385
-1,800
-10% -$57.5K
SNDA icon
58
Sonida Senior Living
SNDA
$2.04B
$540K 0.34%
3,817
+160
+4% +$21.7K
SAVE
59
DELISTED
Spirit Airlines, Inc.
SAVE
$500K 0.31%
10,650
-8,700
-45% -$384K
CLF icon
60
Cleveland-Cliffs
CLF
$6.84B
$475K 0.3%
37,550
-44,750
-54% -$460K
CVS icon
61
CVS Health
CVS
$140B
$473K 0.3%
6,008
+1,100
+22% +$78.6K
TM icon
62
Toyota
TM
$221B
$454K 0.28%
3,650
-400
-10% -$50.6K
CCS icon
63
Century Communities
CCS
$2.03B
$450K 0.28%
17,150
-3,775
-18% -$113K
FCX icon
64
Freeport-McMoran
FCX
$88.6B
$440K 0.27%
31,596
-12,478
-28% -$189K
TXN icon
65
Texas Instruments
TXN
$253B
$432K 0.27%
4,024
-750
-16% -$83.4K
CRK icon
66
Comstock Resources
CRK
$3.64B
$395K 0.25%
47,056
+7,050
+18% +$66K
WHR icon
67
Whirlpool
WHR
$2.49B
$384K 0.24%
3,230
-625
-16% -$82.8K
VST icon
68
Vistra
VST
$50.1B
$382K 0.24%
15,350
-7,500
-33% -$173K
MSFT icon
69
Microsoft
MSFT
$2.92T
$381K 0.24%
+3,335
New +$362K
CVX icon
70
Chevron
CVX
$374B
$366K 0.23%
2,995
– –
VTRS icon
71
Viatris
VTRS
$20.8B
$331K 0.21%
9,050
-5,425
-37% -$204K
CF icon
72
CF Industries
CF
$18.9B
$322K 0.2%
5,911
-749
-11% -$36.1K
BRK.A icon
73
Berkshire Hathaway Class A
BRK.A
$1.1T
$320K 0.2%
1
– –
AEP icon
74
American Electric Power
AEP
$72.4B
$308K 0.19%
4,675
+500
+12% +$35.6K
CONE
75
DELISTED
CyrusOne Inc Common Stock
CONE
$292K 0.18%
4,600
-3,260
-41% -$211K
1 2
3
4 5

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First Dallas Securities's Q3 2018 Portfolio in Review

As of Q3 2018, First Dallas Securities held 108 positions worth $160M, up 2.3% from $156M the previous quarter. Its ten largest holdings account for 46% of the portfolio.

First Dallas Securities withdrew a net $8.64M in Q3 2018, closing 7 positions and reducing 48 holdings. Its most notable exit was Tapestry, an estimated $477K position sold in full.

By sector, the portfolio is most concentrated in Energy at 22% of assets, up from 19% a quarter earlier, followed by Industrials and Financials.

Against the trend, First Dallas Securities opened a new position in Microsoft worth $381K.

  • First Dallas Securities's largest Q3 2018 buy was Microsoft: 3,335 shares worth $381K.
  • First Dallas Securities added most to US Steel in Q3 2018, an estimated $1.83M increase.
  • First Dallas Securities's biggest Q3 2018 reduction was Encore Wire Corp, cutting an estimated $863K.
  • First Dallas Securities fully exited Tapestry in Q3 2018, selling an estimated $477K.
  • First Dallas Securities's ten largest holdings make up 46% of its $160M portfolio in Q3 2018.
  • First Dallas Securities opened 5 new positions and closed 7 in Q3 2018.
  • First Dallas Securities's portfolio value rose 2.3% quarter-over-quarter to $160M.

Based on First Dallas Securities's 13F filing for Q3 2018, filed 31 Oct 2018.