Latest First Dallas Securities Inc. Stock Portfolio

First Dallas Securities Inc. Performance:

2025 Q3: 6.74%YTD: 12.48%2024: 18.83%

Performance for 2025 Q3 is 6.74%, and YTD is 12.48%, and 2024 is 18.83%.

About First Dallas Securities Inc. and 13F Hedge Fund Stock Holdings

First Dallas Securities Inc. is a hedge fund based in DALLAS, TX. On 17-Oct-2022, the fund reported that it had an AUM (Regulated Assets under Management) of $221.1 Millions. In it's latest 13F Holdings report, First Dallas Securities Inc. reported an equity portfolio of $266.9 Millions as of 30 Sep, 2025.

The top stock holdings of First Dallas Securities Inc. are NVDA, TPL, AAPL. The fund has invested 14.5% of it's portfolio in NVIDIA CORPORATION and 7.6% of portfolio in TEXAS PACIFIC LAND CORPORATION.

The fund managers got completely rid off WYNN RESORTS LTD (WYNN), ALPHABET INC CAP STOCK CL A (GOOG) and CYBERARK SOFTWARE LTD stocks. They significantly reduced their stock positions in DEVON ENERGY CORP (DVN), WHIRLPOOL CORP (WHR) and INTL BUSINESS MACHINES (IBM). First Dallas Securities Inc. opened new stock positions in UNITEDHEALTH GROUP INC (UNH), VARONIS SYSTEMS INC (VRNS) and BRINKER INTL INC (EAT). The fund showed a lot of confidence in some stocks as they added substantially to GEO GROUP INC (GEO), ALPHABET INC CAP STOCK CL C (GOOG) and VISA INC CL A (V).

First Dallas Securities Inc. Annual Return Estimates Vs S&P 500

Our best estimate is that First Dallas Securities Inc. made a return of 6.74% in the last quarter. In trailing 12 months, it's portfolio return was 12.28%.

New Buys

Ticker	$ Bought
unitedhealth group inc	2,638,430
varonis systems inc	471,254
brinker intl inc	237,525
sleep number corp	91,260

New stocks bought by First Dallas Securities Inc.

Additions

Ticker	% Inc.
geo group inc	276
alphabet inc cap stock cl c	251
visa inc cl a	217
genius sports ltd npv	216
ryman hospitality properties i	103
terawulf inc	99.25
take-two interactive software	90.91
powell industries inc	83.33

Additions to existing portfolio by First Dallas Securities Inc.

Reductions

Ticker	% Reduced
devon energy corp	-69.71
whirlpool corp	-63.06
intl business machines	-60.17
healthcare realty trust cl a	-39.36
taiwan semiconductor mfg ltd s	-23.94
mcdonalds corp	-22.39
charles schwab corp	-19.51
carpenter technology corp	-19.21

First Dallas Securities Inc. reduced stake in above stock

Sold off

Ticker	$ Sold
portillos inc cl a	-434,707
wynn resorts ltd	-3,448,640
norwegian cruise line holding	-346,788
global med reit inc new	-110,880
stitch fix inc cl a	-37,000
alphabet inc cap stock cl a	-1,412,260
nebius group nv class a	-315,381
triumph financial inc	-224,573

First Dallas Securities Inc. got rid off the above stocks

Sector Distribution

First Dallas Securities Inc. has about 31% of it's holdings in Technology sector.

Sector	%
Technology	31
Others	12.6
Industrials	9.5
Financial Services	8.9
Consumer Cyclical	8.9
Energy	6
Healthcare	5.6
Basic Materials	5.2
Communication Services	4.7
Utilities	3.6
Consumer Defensive	2.5
Real Estate	1.3

Market Cap. Distribution

First Dallas Securities Inc. has about 73.7% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
MEGA-CAP	45.7
LARGE-CAP	28
UNALLOCATED	12.6
MID-CAP	9.5
SMALL-CAP	4.1

Stocks belong to which Index?

About 73.3% of the stocks held by First Dallas Securities Inc. either belong to S&P 500 or RUSSELL 2000 index.

Index	%
S&P 500	67.1
Others	26.7
RUSSELL 2000	6.2

Top 5 Winners (%)		%
CLF	cleveland-cliffs inc	60.5 %
WULF	terawulf inc	44.8 %
TSLA	tesla inc	36.0 %
MU	micron technology inc	35.8 %
PLTR	palantir technologies inc cl a	33.8 %

Top 5 Winners ($)		$
NVDA	nvidia corporation	6.0 M
AAPL	apple inc	3.4 M
CLF	cleveland-cliffs inc	1.4 M
WULF	terawulf inc	0.9 M
CAT	caterpillar inc	0.9 M

Top 5 Losers (%)		%
WHR	whirlpool corp	-22.5 %
KEX	kirby corp	-22.3 %
FOUR	shift4 pmts inc cl a	-21.9 %
UPS	united parcel service inc cl b	-16.2 %
DKNG	draftkings inc cl a	-12.7 %

Top 5 Losers ($)		$
KEX	kirby corp	-0.9 M
OKE	oneok inc	-0.6 M
DKNG	draftkings inc cl a	-0.5 M
FCX	freeport-mcmoran inc cl b	-0.5 M
WHR	whirlpool corp	-0.3 M

First Dallas Securities Inc. Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of First Dallas Securities Inc.

First Dallas Securities Inc. has 113 stocks in it's portfolio. About 47.2% of the portfolio is in top 10 stocks. KEX proved to be the most loss making stock for the portfolio. NVDA was the most profitable stock for First Dallas Securities Inc. last quarter.

Last Reported on: 05 Nov, 2025

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
AAPL	apple inc	6.55	68,667	17,484,600	reduced	-1.5

ABBV	abbvie inc	1.42	16,372	3,790,840	reduced	-1.92

ABNB	airbnb inc cl a	0.00	0.00	0.00	sold off	-100

AEE	ameren corp	0.20	5,215	544,298	reduced	-0.21

AEP	american electric power co inc	0.47	11,047	1,242,810	reduced	-0.67

AMGN	amgen inc	0.44	4,152	1,171,700	reduced	-18.83

AMZN	amazon.com inc	3.33	40,426	8,876,340	added	1.64

ATO	atmos energy corp	0.31	4,856	829,231	added	1.1

AVGO	broadcom inc	0.16	1,270	418,986	reduced	-19.11

AXP	american express co	0.59	4,774	1,585,650	reduced	-2.03

BA	boeing co	2.55	31,557	6,810,950	added	13.73

BAC	bank of america corp	0.70	36,274	1,871,360	reduced	-11.44

BANC	banc of california inc	0.43	69,575	1,151,470	added	4.27

BX	blackstone inc	0.41	6,410	1,095,150	unchanged	0.00

C	citigroup inc new	1.04	27,291	2,770,070	reduced	-3.78

CAT	caterpillar inc	1.77	9,890	4,718,990	reduced	-0.49

CFR	cullen frost bankers inc	0.16	3,278	415,552	unchanged	0.00

CHK	expand energy corporation	1.13	28,340	3,010,870	added	10.43

CLF	cleveland-cliffs inc	1.35	295,800	3,608,760	reduced	-5.2

CMC	commercial metals co	0.51	23,573	1,350,260	reduced	-12.01