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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
(+2.3%)
Cap. Flow
-$8.64M
Cap. Flow
% of AUM
-5.4%
Top 10 Holdings %
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 |
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 |
Texas Pacific Land
TPL
|
+$849K |
| 3 |
Cisco
CSCO
|
+$657K |
| 4 |
Tapestry
TPR
|
+$477K |
| 5 |
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 | |
|---|---|---|---|---|---|---|
|
1
Texas Pacific Land
TPL
$26.9B
| $20.7M | 12.93% |
215,982
-9,540
| -4% | -$849K |
|
2
Boeing
BA
$175B
| $6.1M | 3.81% |
16,411
-646
| -4% | -$227K |
|
3
Bank of America
BAC
$439B
| $5.82M | 3.64% |
99,540
+101
| +0.1% | +$3.08K |
|
4
International Paper
IP
$23.3B
| $5.78M | 3.61% |
124,123
+6,302
| +5% | +$312K |
|
5
Ryman Hospitality Properties
RHP
$8.58B
| $4.34M | 2.71% |
50,357
-1,991
| -4% | -$170K |
|
|
6
Commercial Metals
CMC
$7.8B
| $3.84M | 2.4% |
187,259
+33,296
| +22% | +$716K |
|
7
Johnson & Johnson
JNJ
$643B
| $3.81M | 2.38% |
27,607
+104
| +0.4% | +$13.8K |
|
8
The GEO Group
GEO
$4.11B
| $3.81M | 2.38% |
151,379
+2,142
| +1% | +$54.7K |
|
9
Southwest Airlines
LUV
$22.7B
| $3.73M | 2.33% |
59,795
-2,165
| -3% | -$127K |
|
|
ENLC
10
DELISTED
ENLINK MIDSTREAM, LLC
ENLC
| $3M | 1.88% |
182,472
+46,440
| +34% | +$774K |
|
11
ExxonMobil
XOM
$634B
| $3M | 1.87% |
35,244
+1,304
| +4% | +$107K |
|
|
X
12
DELISTED
US Steel
X
| $2.9M | 1.81% |
95,222
+56,654
| +147% | +$1.83M |
|
|
USCR
13
DELISTED
U S Concrete, Inc.
USCR
| $2.9M | 1.81% |
63,175
+21,575
| +52% | +$1.08M |
|
14
AT&T
T
$169B
| $2.78M | 1.74% |
109,635
+5,886
| +6% | +$144K |
|
15
AbbVie
ABBV
$465B
| $2.53M | 1.58% |
26,764
-47
| -0.2% | -$4.46K |
|
16
Xcel Energy
XEL
$50.1B
| $2.51M | 1.57% |
53,178
-213
| -0.4% | -$10.1K |
|
17
American Airlines Group
AAL
$10.2B
| $2.5M | 1.56% |
60,526
+12,998
| +27% | +$508K |
|
18
Oneok
OKE
$55.9B
| $2.33M | 1.45% |
34,300
+2,125
| +7% | +$145K |
|
19
Atmos Energy
ATO
$29.9B
| $2.21M | 1.38% |
23,557
-259
| -1% | -$23.9K |
|
20
Verizon
VZ
$201B
| $2.2M | 1.38% |
41,245
+2,809
| +7% | +$149K |
|
21
Eagle Materials
EXP
$6.86B
| $2.11M | 1.32% |
24,752
+2,426
| +11% | +$236K |
|
22
Kraft Heinz
KHC
$32.4B
| $1.78M | 1.11% |
32,323
+2,230
| +7% | +$133K |
|
23
Helmerich & Payne
HP
$3.31B
| $1.69M | 1.06% |
24,605
+157
| +0.6% | +$10K |
|
24
Walmart Inc
WMT
$900B
| $1.63M | 1.02% |
52,008
-1,494
| -3% | -$45.7K |
|
25
Delta Air Lines
DAL
$58.8B
| $1.6M | 1% |
27,641
-3,546
| -11% | -$195K |
|
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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.