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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
+1.04%
1 Year Est. Return
+39.24%
3 Year Est. Return
+133.73%
5 Year Est. Return
+182.89%
10 Year Est. Return
–
AUM
$114M
AUM Growth
-$24.7M
Cap. Flow
-$25.3M
Cap. Flow %
-22.1%
Top 10 Hldgs %
43.64%
Holding
96
New
4
Increased
25
Reduced
47
Closed
11

Top Buys

Rank Stock Value
1
DOW icon
Dow Inc
DOW
+$1.04M
2
SLB icon
SLB Ltd
SLB
+$640K
3
MRK icon
Merck
MRK
+$540K
4
NXPI icon
NXP Semiconductors
NXPI
+$410K
5
AMAT icon
Applied Materials
AMAT
+$349K

Top Sells

Rank Stock Value
1
USCR
U S Concrete, Inc.
USCR
+$1.36M
2
TPL icon
Texas Pacific Land
TPL
+$794K
3
EXP icon
Eagle Materials
EXP
+$663K
4
CSCO icon
Cisco
CSCO
+$660K
5
LTXB
LegacyTexas Financial Group Inc
LTXB
+$592K

Sector Composition

Rank Sector Weight
1 Energy 25.47%
2 Industrials 20.92%
3 Healthcare 8.46%
4 Utilities 7.31%
5 Financials 6.98%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BSX icon
51
Boston Scientific
BSX
$68.5B
$565K 0.49%
13,150
-3,295
-20% -$127K
HON icon
52
Honeywell
HON
$78.3B
$559K 0.49%
3,395
-478
-12% -$76.1K
KO icon
53
Coca-Cola
KO
$380B
$546K 0.48%
10,722
+475
+5% +$23.3K
BX icon
54
Blackstone
BX
$107B
$504K 0.44%
11,350
-9,613
-46% -$383K
URI icon
55
United Rentals
URI
$67.9B
$493K 0.43%
3,715
-160
-4% -$20.3K
COST icon
56
Costco
COST
$429B
$470K 0.41%
1,780
-250
-12% -$62.3K
TXN icon
57
Texas Instruments
TXN
$253B
$438K 0.38%
3,819
– –
BP icon
58
BP
BP
$107B
$437K 0.38%
10,657
-508
-5% -$21.3K
PYPL icon
59
PayPal
PYPL
$50.3B
$435K 0.38%
3,800
-50
-1% -$5.54K
META icon
60
Meta Platforms (Facebook)
META
$1.51T
$429K 0.38%
2,225
+50
+2% +$9.14K
AAPL icon
61
Apple
AAPL
$4.99T
$421K 0.37%
8,512
-2,396
-22% -$117K
CVX icon
62
Chevron
CVX
$374B
$399K 0.35%
3,204
+160
+5% +$19.3K
AEP icon
63
American Electric Power
AEP
$72.4B
$367K 0.32%
4,175
– –
SJM icon
64
J.M. Smucker
SJM
$13.2B
$365K 0.32%
3,165
+100
+3% +$12.2K
CCS icon
65
Century Communities
CCS
$2.03B
$355K 0.31%
13,350
-1,800
-12% -$47.6K
VTR icon
66
Ventas
VTR
$47.7B
$332K 0.29%
4,863
– –
BRK.A icon
67
Berkshire Hathaway Class A
BRK.A
$1.1T
$318K 0.28%
1
– –
UAL icon
68
United Airlines
UAL
$40.2B
$298K 0.26%
3,400
-100
-3% -$8.46K
KHC icon
69
Kraft Heinz
KHC
$32.4B
$293K 0.26%
9,441
-3,107
-25% -$98K
WIRE
70
DELISTED
Encore Wire Corp
WIRE
$286K 0.25%
4,875
-2,675
-35% -$150K
IBTX
71
DELISTED
Independent Bank Group, Inc.
IBTX
$284K 0.25%
+5,160
New +$281K
ET icon
72
Energy Transfer Partners
ET
$69.5B
$246K 0.22%
17,480
+1,950
+13% +$28.9K
LMT icon
73
Lockheed Martin
LMT
$134B
$245K 0.21%
675
– –
VST icon
74
Vistra
VST
$50.1B
$243K 0.21%
10,750
-4,500
-30% -$113K
TM icon
75
Toyota
TM
$221B
$236K 0.21%
1,900
+75
+4% +$9.15K
1 2
3
4

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First Dallas Securities's Q2 2019 Portfolio in Review

As of Q2 2019, First Dallas Securities held 96 positions worth $114M, down 18% from $139M the previous quarter. Its ten largest holdings account for 44% of the portfolio.

First Dallas Securities withdrew a net $25.3M in Q2 2019, closing 11 positions and reducing 47 holdings. Its most notable exit was LegacyTexas Financial Group Inc, an estimated $592K position sold in full.

By sector, the portfolio is most concentrated in Energy at 25% of assets, up from 22% a quarter earlier, followed by Industrials and Healthcare.

Against the trend, First Dallas Securities opened a new position in Dow Inc worth $967K.

  • First Dallas Securities's largest Q2 2019 buy was Dow Inc: 19,620 shares worth $967K.
  • First Dallas Securities added most to SLB Ltd in Q2 2019, an estimated $640K increase.
  • First Dallas Securities's biggest Q2 2019 reduction was U S Concrete, Inc., cutting an estimated $1.36M.
  • First Dallas Securities fully exited LegacyTexas Financial Group Inc in Q2 2019, selling an estimated $592K.
  • First Dallas Securities's ten largest holdings make up 44% of its $114M portfolio in Q2 2019.
  • First Dallas Securities opened 4 new positions and closed 11 in Q2 2019.
  • First Dallas Securities's portfolio value fell 18% quarter-over-quarter to $114M.

Based on First Dallas Securities's 13F filing for Q2 2019, filed 22 Aug 2019.