Concorde Financial Corp
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Concorde Financial Corp reported 55 stock positions worth $169.1 million. Its top holding was Sprott Physical Gold Trust (PHYS) at 9.3% of the portfolio, followed by Texas Pacific Land (TPL, 8.8%) and JPMorgan Chase (JPM, 5.2%). Compared with Q1 2025, it opened 22 new positions, sold out of 1, added to 14 and reduced 18. The biggest buy was a new position in Berkshire Hathaway Class B (BRK.B) and the biggest sale an exit from Texas Instruments (TXN).
- Most Recent 13F
- Q2 2026
- Location
- DALLAS, TX
- CIK
- 0001911822
- Portfolio Value
- $169.1M (Q2 2025)
- SEC Filing
- 0001420506-25-002025 ↗ filed Aug 14, 2025
Holdings Value
Holdings 55 stocks · $169.1M
| PHYS Sprott Physical Gold Trust | 9.31% | 620,923 | $15.7M | Reduce -26.4% |
| TPL Texas Pacific Land Corp. | 8.76% | 14,021 | $14.8M | Reduce -1.3% |
| JPM JPMorgan Chase & Co. | 5.24% | 30,547 | $8.9M | Add +0.2% |
| EXE Expand Energy Corp. | 4.93% | 71,264 | $8.3M | Reduce -1.6% |
| BSM Black Stone Minerals LP | 4.65% | 601,495 | $7.9M | Reduce -0.3% |
| ET Energy Transfer LP | 4.17% | 389,238 | $7.1M | Add +0.4% |
| AMZN Amazon.com Inc. | 3.85% | 29,680 | $6.5M | Reduce -0.1% |
| JPST JPMorgan Ultra-Short Income | 3.80% | 126,774 | $6.4M | Add +20.2% |
| XOM Exxon Mobil Corp. | 3.77% | 59,182 | $6.4M | Add +0.2% |
| MSFT Microsoft Corp. | 3.61% | 12,276 | $6.1M | Reduce -18.1% |
| ABBV Abbvie Inc. | 3.59% | 32,705 | $6.1M | Reduce -0.3% |
| CB Chubb Ltd. | 3.14% | 18,330 | $5.3M | Reduce -0.4% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 3.05% | 41,759 | $5.2M | Reduce -2.6% |
| FANG Diamondback Energy Inc. | 2.97% | 36,503 | $5.0M | Add +4.5% |
| OXY Occidental Petroleum Corp. | 2.95% | 118,668 | $5.0M | Add +3.5% |
| JNJ Johnson & Johnson | 2.64% | 29,217 | $4.5M | Reduce -0.6% |
| WBD Warner Bros Discovery Inc. | 2.21% | 326,365 | $3.7M | Add +0.3% |
| FR First Industrial Realty TR | 2.19% | 76,823 | $3.7M | Add +0.4% |
| HHH Howard Hughes Holdings Inc. | 2.15% | 53,885 | $3.6M | Reduce -0.3% |
| FNV Franco-Nevada Corp. | 2.14% | 22,051 | $3.6M | Reduce -39.6% |
| HUBB Hubbell Inc. | 2.13% | 8,808 | $3.6M | Add +0.3% |
| BG Bunge Global SA | 2.10% | 44,212 | $3.5M | Reduce -0.8% |
| MLM Martin Marietta Materials | 1.97% | 6,055 | $3.3M | Add +0.2% |
| CP Canadian Pacific Kansas City | 1.86% | 39,652 | $3.1M | Reduce -0.3% |
| LOW Lowe's Cos Inc. | 1.82% | 13,897 | $3.1M | Add +0.1% |
| LPX Louisiana-Pacific Corp. | 1.78% | 34,937 | $3.0M | Reduce -0.2% |
| HSY The Hershey Co. | 1.71% | 17,444 | $2.9M | Add +0.4% |
| JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F | 1.43% | 44,315 | $2.4M | Reduce -1.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.32% | 4,590 | $2.2M | New |
| CSCO Cisco Systems Inc. | 1.07% | 26,116 | $1.8M | New |
| EMN Eastman Chemical Co. | 1.00% | 22,561 | $1.7M | Add +0.9% |
| NOC Northrop Grumman Corp. | 0.95% | 3,213 | $1.6M | Reduce -55.7% |
| DMLP Dorchester Minerals LP | 0.75% | 45,751 | $1.3M | Reduce -6.9% |
| MINT PIMCO Enhanced Short Maturit | 0.44% | 7,333 | $737K | Add +1.7% |
| XOP SS SPDR S&P Og Exp & Prod | 0.26% | 3,462 | $436K | No change |
| XES SS SPDR S&P Og Eqp & Serv | 0.10% | 2,571 | $163K | New |
| TXS Texas Equity Index ETF | 0.06% | 2,986 | $104K | New |
| SEG Seaport Entertainment Group | 0.05% | 4,950 | $92K | New |
| USB US Bancorp | 0.03% | 1,012 | $46K | New |
| NVDA Nvidia Corp. | 0.01% | 150 | $24K | New |
| CTVA Corteva Inc. | 0.01% | 292 | $22K | New |
| MGM MGM Resorts International | 0.01% | 550 | $19K | New |
| BUR Burford Capital Ltd. | 0.01% | 900 | $13K | New |
| MBSF Regan Floating Rate MBS ETF | 0.01% | 501 | $13K | New |
| DD Dupont DE Nemours Inc. | 0.01% | 146 | $10K | New |
| HELO JPMorgan Hedged Equity ETF | 0.01% | 150 | $9K | New |
| PDX PIMCO Dynamic Income Strat | 0.00% | 300 | $7K | New |
| SOC Sable Offshore Corp. | 0.00% | 300 | $7K | New |
| PAA Plains All Amer Pipeline LP | 0.00% | 300 | $5K | New |
| BOC Boston Omaha Corp. Class A | 0.00% | 300 | $4K | New |
| DOW Dow Inc. | 0.00% | 146 | $4K | New |
| PIPR Piper Sandler Cos | 0.00% | 10 | $3K | New |
| AUR Aurora Innovation Inc. | 0.00% | 500 | $3K | New |
| NPWR Net Power Inc. | 0.00% | 1,000 | $2K | New |
| SPG Simon Property Group Inc. | 0.00% | 15 | $2K | New |
Portfolio Sells Q1 2025 → Q2 2025
| TXN Texas Instruments Inc. | Sold out | 0.00% | −1.89 |
| PHYS Sprott Physical Gold Trust | Reduce -26.4% | 9.31% | −1.88 |
| TPL Texas Pacific Land Corp. | Reduce -1.3% | 8.76% | −1.61 |
| NOC Northrop Grumman Corp. | Reduce -55.7% | 0.95% | −1.10 |
| FNV Franco-Nevada Corp. | Reduce -39.6% | 2.14% | −1.03 |
| BSM Black Stone Minerals LP | Reduce -0.3% | 4.65% | −0.43 |
| ABBV Abbvie Inc. | Reduce -0.3% | 3.59% | −0.20 |
| DMLP Dorchester Minerals LP | Reduce -6.9% | 0.75% | −0.06 |
| HHH Howard Hughes Holdings Inc. | Reduce -0.3% | 2.15% | −0.06 |
| JNJ Johnson & Johnson | Reduce -0.6% | 2.64% | −0.05 |
| LPX Louisiana-Pacific Corp. | Reduce -0.2% | 1.78% | +0.00 |
| CB Chubb Ltd. | Reduce -0.4% | 3.14% | +0.08 |
| JEPQ JPM Nasdaq Equity Premium | Reduce -1.4% | 1.43% | +0.14 |
| TJX TJX Companies Inc. | Reduce -2.6% | 3.05% | +0.17 |
| BG Bunge Global SA | Reduce -0.8% | 2.10% | +0.22 |
| CP Canadian Pacific Kansas City | Reduce -0.3% | 1.86% | +0.32 |
| EXE Expand Energy Corp. | Reduce -1.6% | 4.93% | +0.48 |
| MSFT Microsoft Corp. | Reduce -18.1% | 3.61% | +0.51 |
| AMZN Amazon.com Inc. | Reduce -0.1% | 3.85% | +0.73 |
Portfolio Buys Q1 2025 → Q2 2025
| BRK.B Berkshire Hathaway Inc. Class B | New | 1.32% | +1.32 |
| JPM JPMorgan Chase & Co. | Add +0.2% | 5.24% | +1.11 |
| CSCO Cisco Systems Inc. | New | 1.07% | +1.07 |
| JPST JPMorgan Ultra-Short Income | Add +20.2% | 3.80% | +0.85 |
| HUBB Hubbell Inc. | Add +0.3% | 2.13% | +0.53 |
| MLM Martin Marietta Materials | Add +0.2% | 1.97% | +0.37 |
| WBD Warner Bros Discovery Inc. | Add +0.3% | 2.21% | +0.29 |
| ET Energy Transfer LP | Add +0.4% | 4.17% | +0.20 |
| XES SS SPDR S&P Og Eqp & Serv | New | 0.10% | +0.10 |
| HSY The Hershey Co. | Add +0.4% | 1.71% | +0.07 |
| TXS Texas Equity Index ETF | New | 0.06% | +0.06 |
| SEG Seaport Entertainment Group | New | 0.05% | +0.05 |
| LOW Lowe's Cos Inc. | Add +0.1% | 1.82% | +0.04 |
| MINT PIMCO Enhanced Short Maturit | Add +1.7% | 0.44% | +0.04 |
| USB US Bancorp | New | 0.03% | +0.03 |
| NVDA Nvidia Corp. | New | 0.01% | +0.01 |
| CTVA Corteva Inc. | New | 0.01% | +0.01 |
| MGM MGM Resorts International | New | 0.01% | +0.01 |
| MBSF Regan Floating Rate MBS ETF | New | 0.01% | +0.01 |
| BUR Burford Capital Ltd. | New | 0.01% | +0.01 |
| DD Dupont DE Nemours Inc. | New | 0.01% | +0.01 |
| HELO JPMorgan Hedged Equity ETF | New | 0.01% | +0.01 |
| PDX PIMCO Dynamic Income Strat | New | 0.00% | +0.00 |
| SOC Sable Offshore Corp. | New | 0.00% | +0.00 |
| PAA Plains All Amer Pipeline LP | New | 0.00% | +0.00 |
| BOC Boston Omaha Corp. Class A | New | 0.00% | +0.00 |
| DOW Dow Inc. | New | 0.00% | +0.00 |
| PIPR Piper Sandler Cos | New | 0.00% | +0.00 |
| AUR Aurora Innovation Inc. | New | 0.00% | +0.00 |
| NPWR Net Power Inc. | New | 0.00% | +0.00 |
| SPG Simon Property Group Inc. | New | 0.00% | +0.00 |
| EMN Eastman Chemical Co. | Add +0.9% | 1.00% | −0.09 |
| FR First Industrial Realty TR | Add +0.4% | 2.19% | −0.09 |
| XOM Exxon Mobil Corp. | Add +0.2% | 3.77% | −0.10 |
| FANG Diamondback Energy Inc. | Add +4.5% | 2.97% | −0.11 |
| OXY Occidental Petroleum Corp. | Add +3.5% | 2.95% | −0.17 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 26 | $124.1M | JPM, ET, XOM, JNJ, AMZN |
| Q1 2026 | 26 | $127.3M | XOM, OXY, JPM, ET, EXE |
| Q4 2025 | 27 | $129.0M | JPM, XOM, EXE, ET, ABBV |
| Q3 2025 | 36 | $180.4M | PHYS, TPL, JPM, BSM, EXE |
| Q2 2025 | 55 | $169.1M | PHYS, TPL, JPM, EXE, BSM |
| Q1 2025 | 34 | $181.4M | PHYS, TPL, BSM, EXE, JPM |
| Q4 2024 | 36 | $168.1M | PHYS, TPL, ET, JPM, EXE |
| Q3 2024 | 39 | $169.8M | PHYS, TPL, BSM, XOM, JPM |
| Q2 2024 | 40 | $152.2M | TPL, PHYS, XOM, JPST, ET |
| Q1 2024 | 37 | $110.0M | PHYS, TPL, ABBV, JPM, JPST |