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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
NVDA icon
1
NVIDIA
NVDA
$4.77T
$38.2M 14.2%
204,696
-3,306
-2% -$615K
TPL icon
2
Texas Pacific Land
TPL
$26.9B
$18.6M 6.91%
64,655
-793
-1% -$242K
AAPL icon
3
Apple
AAPL
$4.99T
$18.5M 6.88%
68,024
-643
-0.9% -$173K
AMZN icon
4
Amazon
AMZN
$2.48T
$9.23M 3.44%
40,006
-420
-1% -$96.1K
MSFT icon
5
Microsoft
MSFT
$2.92T
$7.89M 2.94%
16,322
-597
-4% -$299K
BA icon
6
Boeing
BA
$175B
$6.88M 2.56%
31,692
+135
+0.4% +$27.8K
FCX icon
7
Freeport-McMoran
FCX
$88.6B
$6.74M 2.51%
132,658
+5,814
+5% +$252K
UBER icon
8
Uber
UBER
$144B
$6.49M 2.41%
79,415
+1,888
+2% +$170K
LLY icon
9
Eli Lilly
LLY
$1.09T
$6.18M 2.3%
5,753
-190
-3% -$182K
XOM icon
10
ExxonMobil
XOM
$634B
$5.61M 2.09%
46,624
-1,000
-2% -$116K
META icon
11
Meta Platforms (Facebook)
META
$1.51T
$5.59M 2.08%
8,471
-634
-7% -$423K
CAT icon
12
Caterpillar
CAT
$387B
$5.55M 2.07%
9,690
-200
-2% -$111K
OKE icon
13
Oneok
OKE
$55.9B
$5.41M 2.01%
73,613
+500
+0.7% +$35.4K
SN icon
14
SharkNinja
SN
$22.6B
$4.47M 1.66%
39,960
+8,335
+26% +$821K
JPM icon
15
JPMorgan Chase
JPM
$950B
$4.24M 1.58%
13,167
-649
-5% -$201K
HD icon
16
Home Depot
HD
$343B
$3.86M 1.44%
11,214
+1,130
+11% +$414K
DKNG icon
17
DraftKings
DKNG
$12.2B
$3.84M 1.43%
111,393
+10,482
+10% +$345K
ABBV icon
18
AbbVie
ABBV
$465B
$3.71M 1.38%
16,226
-146
-0.9% -$33.3K
MU icon
19
Micron Technology
MU
$927B
$3.67M 1.37%
12,876
+221
+2% +$50.7K
MRP
20
Millrose Properties Inc
MRP
$4.75B
$3.36M 1.25%
112,389
+20,090
+22% +$630K
EXP icon
21
Eagle Materials
EXP
$6.86B
$3.24M 1.21%
15,698
-784
-5% -$173K
CLF icon
22
Cleveland-Cliffs
CLF
$6.84B
$3.24M 1.2%
243,800
-52,000
-18% -$657K
WMT icon
23
Walmart Inc
WMT
$900B
$3.15M 1.17%
28,250
-1,354
-5% -$145K
EXE
24
Expand Energy Corp
EXE
$21.2B
$3.06M 1.14%
27,694
-646
-2% -$71.6K
C icon
25
Citigroup
C
$222B
$3.05M 1.14%
26,144
-1,147
-4% -$119K
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.