FD

First Dallas Securities Inc.

Diversified strategyMomentum followerQuality / disciplined sizing

Total reported value

$270.3M

Reporting period: 2026-03-31 · Number of holdings: 118

First Dallas Securities Inc. disclosed 118 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $270.3M and a quarterly turnover rate of 25.7%.

Personality snowflake

Concentration
16.66
Portfolio Stability
25.66
Momentum/Contrarian
100
Sector conviction
63.93
Diversification
100
Sizing Uniformity
80.13

Recent moves

  • Add TPL

    -7.9%　$9.7M

  • Trim MSFT

    -34.6%　-$3.9M

  • Trim ABBV

    -75.2%　-$2.8M

  • Trim NVDA

    +0.9%　-$2.1M

  • Trim UNH

    -88.9%　-$2.3M

  • Add XOM

    -4.8%　$1.9M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#TickerIssuerAsset SubclassWeightWeight ChangeShares Change4Q Trend
1NVDANvidia CORPStock-Tech13.33%-0.87%+0.94%
2TPLTexas Pacific Land CORPStock-Energy10.46%+3.55%-7.89%
3AAPLApple INCStock-Tech6.31%-0.57%-1.25%
4AMZNAmazon.com INCStock-Consumer Disc3.06%-0.38%-0.77%
5XOMExxon Mobil CORPStock-Energy2.79%+0.70%-4.79%
6FCXFreeport-mcmoran INCStock-Materials2.71%+0.20%-6.01%
7OKEOneok INCStock-Energy2.39%+0.38%-2.71%
8BABoeing Co/theStock-Industrials2.39%-0.17%+2.35%
9CATCaterpillar INCStock-Industrials2.27%+0.20%-10.71%
10UBERUber Technologies INCStock-Industrials2.05%-0.36%-2.77%
11LLYEli Lilly & CoStock-Healthcare1.83%-0.47%-6.28%
12METAMeta Platforms Inc-class AStock-Comm Services1.72%-0.36%-3.99%
13JNJJohnson & JohnsonStock-Healthcare1.50%+0.61%+44.10%
14MSFTMicrosoft CORPStock-Tech1.46%-1.48%-34.62%
15HDHome Depot INCStock-Consumer Disc1.46%—+6.91%
16JPMJpmorgan Chase & CoStock-Financials1.44%-0.14%+0.39%
17SNSharkNinja, Inc.Stock-Consumer Disc1.39%-0.27%-11.26%
18WMTWalmart INCStock-Consumer Staples1.28%—-1.15%
19CCitigroup INCStock-Financials1.26%+0.12%+14.86%
20EXEExpand Energy CORPStock-Energy1.26%+0.12%+11.99%
21RHPRyman Hospitality PropertiesStock-Real Estate1.23%+0.16%+18.38%
22EXPEagle Materials INCStock-Materials1.15%—+4.78%
23MRPMillrose PropertiesStock-Real Estate1.13%—-3.15%
24WHRWhirlpool CORPStock-Consumer Disc1.10%—+44.64%
25UPSUnited Parcel Service-cl BStock-Industrials1.09%+0.51%+91.45%
26MUMicron Technology INCStock-Tech0.99%-0.38%-38.30%
27COSTCostco Wholesale CORPStock-Consumer Staples0.94%+0.14%+2.20%
28TSMTaiwan Semiconductor-sp AdrStock-Tech0.91%—-20.25%
29MTZMastec INCStock-Industrials0.89%+0.21%-10.18%
30WULFTerawulf INCStock-Financials0.82%—-14.58%
31TAt&t INCStock-Comm Services0.81%—-0.77%
32GOOGAlphabet Inc-cl CStock-Comm Services0.79%—+3.71%
33DKNGDraftkings Inc-cl AStock-Consumer Disc0.77%-0.66%-13.38%
34CLFCleveland-cliffs INCStock-Materials0.75%-0.45%-1.11%
35CSWCCapital Southwest CORPStock-Other0.73%—-0.24%
36XELXcel Energy INCStock-Utilities0.68%—-2.09%
37FWRGFirst Watch Restaurant GroupStock-Other0.65%+0.43%+327.56%
38POWLPowell Industries INCStock-Industrials0.63%+0.23%-7.35%
39KEXKirby CORPStock-Industrials0.63%-0.44%-51.07%
40BACBank Of America CORPStock-Financials0.62%—-4.95%
41WFCWells Fargo & CoStock-Financials0.59%—+1.03%
42FVRFrontview Reit INCStock-Other0.55%+0.43%+344.21%
43AVGOBroadcom INCStock-Tech0.54%+0.36%+245.62%
44AMGNAmgen INCStock-Healthcare0.54%—+2.47%
45PRPermian Resources Corp-cl AStock-Energy0.54%+0.15%-8.95%
46AEPAmerican Electric PowerStock-Utilities0.53%—+0.42%
47AMATApplied Materials INCStock-Tech0.53%+0.53%NEW
48CMCCommercial Metals CoStock-Industrials0.51%—-3.94%
49AXPAmerican Express CoStock-Financials0.50%-0.16%-7.48%
50ETDEthan Allen Interiors INCStock-Other0.49%—+35.08%
1–50 of 118

Holding changes this quarter

First Dallas Securities Inc.'s most significant position changes for 2026-03-31: New buy: Applied Materials INC (AMAT); New buy: Arcosa INC (ACA); New buy: Viking Holdings Ltd (VIK); New buy: Vail Resorts INC (MTN); Sold out: Visa Inc-class A Shares (V).

Position changes disclosed by First Dallas Securities Inc. for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#TickerIssuerWeight ChangeShares ChangeAction
1TPLTexas Pacific Land CORP+3.6%-7.89%Trim
2XOMExxon Mobil CORP+0.7%-4.79%Trim
3JNJJohnson & Johnson+0.6%+44.10%Add
4UPSUnited Parcel Service-cl B+0.5%+91.45%Add
5FVRFrontview Reit INC+0.4%+344.21%Add
6FWRGFirst Watch Restaurant Group+0.4%+327.56%Add
7OKEOneok INC+0.4%-2.71%Trim
8AVGOBroadcom INC+0.4%+245.62%Add
9NFLXNetflix INC+0.3%+143.36%Add
10POWLPowell Industries INC+0.2%-7.35%Trim
11MTZMastec INC+0.2%-10.18%Trim
12FCXFreeport-mcmoran INC+0.2%-6.01%Trim
13CATCaterpillar INC+0.2%-10.71%Trim
14RHPRyman Hospitality Properties+0.2%+18.38%Add
15PRPermian Resources Corp-cl A+0.2%-8.95%Trim
16COSTCostco Wholesale CORP+0.1%+2.20%Add
17CCitigroup INC+0.1%+14.86%Add
18EXEExpand Energy CORP+0.1%+11.99%Add
19MMM3m Co-0.1%-29.20%Trim
20HPEHewlett Packard Enterprise-0.1%-37.38%Trim
21JPMJpmorgan Chase & Co-0.1%+0.39%Add
22AXPAmerican Express Co-0.2%-7.48%Trim
23BABoeing Co/the-0.2%+2.35%Add
24PLTRPalantir Technologies Inc-a-0.2%-18.47%Trim
25VRTVertiv Holdings Co-a-0.2%-73.80%Trim
26GENIGenius Sports Limited-0.2%-36.50%Trim
27SNSharkNinja, Inc.-0.3%-11.26%Trim
28METAMeta Platforms Inc-class A-0.4%-3.99%Trim
29UBERUber Technologies INC-0.4%-2.77%Trim
30MUMicron Technology INC-0.4%-38.30%Trim
31AMZNAmazon.com INC-0.4%-0.77%Trim
32KEXKirby CORP-0.4%-51.07%Trim
33CLFCleveland-cliffs INC-0.5%-1.11%Trim
34LLYEli Lilly & Co-0.5%-6.28%Trim
35AAPLApple INC-0.6%-1.25%Trim
36DKNGDraftkings Inc-cl A-0.7%-13.38%Trim
37VSTVistra CORP-0.7%-72.84%Trim
38UNHUnitedhealth Group INC-0.9%-88.94%Trim
39NVDANvidia CORP-0.9%+0.94%Add
40ABBVAbbvie INC-1.1%-75.18%Trim
41MSFTMicrosoft CORP-1.5%-34.62%Trim
42AMATApplied Materials INC—NEWNew buy
43ACAArcosa INC—NEWNew buy
44VIKViking Holdings Ltd—NEWNew buy
45MTNVail Resorts INC—NEWNew buy
46VVisa Inc-class A Shares—EXITSold out
47GILGildan Activewear INC—NEWNew buy
48TTWOTake-two Interactive Softwre—EXITSold out
49GMGeneral Motors Co—EXITSold out
50IPGPIpg Photonics CORP—NEWNew buy

FAQ

What is First Dallas Securities Inc. and what type of investor is it?
First Dallas Securities Inc. is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $270.3M, spread across 118 disclosed positions.
What are First Dallas Securities Inc.'s largest equity positions?
Based on the latest 13F filing, First Dallas Securities Inc.'s top holdings by market value are: 1. Nvidia CORP (NVDA) — $36.0M (13.3%) 2. Texas Pacific Land CORP (TPL) — $28.3M (10.5%) 3. Apple INC (AAPL) — $17.0M (6.3%) 4. Amazon.com INC (AMZN) — $8.3M (3.1%) 5. Exxon Mobil CORP (XOM) — $7.5M (2.8%)
What changes did First Dallas Securities Inc. make in its most recent portfolio filing?
In the latest reported quarter, First Dallas Securities Inc. made 50 notable position adjustments: 6 new positions were initiated, 13 existing holdings were added to, 28 positions were partially reduced, and 3 were completely exited. The largest of these moves: New buy: Applied Materials INC (AMAT); New buy: Arcosa INC (ACA); New buy: Viking Holdings Ltd (VIK); New buy: Vail Resorts INC (MTN); Sold out: Visa Inc-class A Shares (V)
What sectors does First Dallas Securities Inc. focus on?
First Dallas Securities Inc. is concentrated in the following sectors based on its current disclosed equity portfolio: • Information Technology: 40.0% • Industrials: 14.4% • Consumer Discretionary: 9.0% • Financials: 8.9% • Health Care: 7.6% • Communication Services: 6.6%