Concorde Financial Corp
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Concorde Financial Corp reported 27 stock positions worth $129.0 million. Its top holding was JPMorgan Chase (JPM) at 7.1% of the portfolio, followed by Exxon Mobil (XOM, 6.2%) and Expand Energy (EXE, 5.8%). Compared with Q3 2025, it opened 1 new position, sold out of 10, added to 6 and reduced 19. The biggest buy was Diamondback Energy (FANG, shares +18%) and the biggest sale an exit from Sprott Physical Gold Trust (PHYS).
- Most Recent 13F
- Q2 2026
- Location
- DALLAS, TX
- CIK
- 0001911822
- Portfolio Value
- $129.0M (Q4 2025)
- SEC Filing
- 0001420506-26-000485 ↗ filed Feb 17, 2026
Holdings Value
Holdings 27 stocks · $129.0M
| JPM JPMorgan Chase & Co. | 7.10% | 29,099 | $9.2M | Reduce -2.2% |
| XOM Exxon Mobil Corp. | 6.23% | 55,875 | $8.0M | Reduce -6.6% |
| EXE Expand Energy Corp. | 5.77% | 68,634 | $7.4M | Reduce -1.6% |
| ET Energy Transfer LP | 5.73% | 401,599 | $7.4M | Reduce -1.2% |
| ABBV Abbvie Inc. | 5.46% | 31,212 | $7.0M | Reduce -1.8% |
| AMZN Amazon.com Inc. | 5.28% | 28,552 | $6.8M | Reduce -1.6% |
| OXY Occidental Petroleum Corp. | 4.76% | 135,742 | $6.1M | Add +23.8% |
| JNJ Johnson & Johnson | 4.71% | 26,047 | $6.1M | Reduce -11.0% |
| FANG Diamondback Energy Inc. | 4.59% | 36,394 | $5.9M | Add +18.1% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 4.59% | 38,926 | $5.9M | Reduce -3.0% |
| CB Chubb Ltd. | 4.36% | 17,946 | $5.6M | Reduce -1.8% |
| MSFT Microsoft Corp. | 3.85% | 12,082 | $5.0M | Reduce -0.9% |
| BG Bunge Global SA | 3.73% | 41,127 | $4.8M | Reduce -5.0% |
| FR First Industrial Realty TR | 3.48% | 77,022 | $4.5M | Reduce -1.3% |
| HUBB Hubbell Inc. | 3.35% | 8,572 | $4.3M | Reduce -2.7% |
| WBD Warner Bros Discovery Inc. | 3.23% | 153,154 | $4.2M | Reduce -38.5% |
| CSCO Cisco Systems Inc. | 3.20% | 49,666 | $4.1M | Add +40.1% |
| MLM Martin Marietta Materials | 3.00% | 5,847 | $3.9M | Reduce -2.8% |
| LOW Lowe's Cos Inc. | 2.87% | 13,487 | $3.7M | Reduce -1.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.82% | 7,372 | $3.6M | Add +59.2% |
| HSY The Hershey Co. | 2.70% | 17,304 | $3.5M | Reduce -1.0% |
| LPX Louisiana-Pacific Corp. | 2.48% | 35,874 | $3.2M | Add +1.9% |
| CP Canadian Pacific Kansas City | 2.33% | 39,259 | $3.0M | Reduce -1.0% |
| JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F | 2.06% | 45,311 | $2.7M | Add +0.0% |
| NOC Northrop Grumman Corp. | 1.74% | 3,178 | $2.2M | Reduce -1.1% |
| XOP SS SPDR S&P Og Exp & Prod | 0.38% | 3,462 | $484K | No change |
| XES SS SPDR S&P Og Eqp & Serv | 0.20% | 2,571 | $260K | New |
Portfolio Sells Q3 2025 → Q4 2025
| PHYS Sprott Physical Gold Trust | Sold out | 0.00% | −10.12 |
| TPL Texas Pacific Land Corp. | Sold out | 0.00% | −7.31 |
| BSM Black Stone Minerals LP | Sold out | 0.00% | −4.78 |
| JPST JPMorgan Ultra-Short Income | Sold out | 0.00% | −3.88 |
| FNV Franco-Nevada Corp. | Sold out | 0.00% | −2.69 |
| HHH Howard Hughes Holdings Inc. | Sold out | 0.00% | −2.37 |
| NPFI Nuveen Preferred & Income | Sold out | 0.00% | −1.06 |
| EMN Eastman Chemical Co. | Sold out | 0.00% | −0.65 |
| DMLP Dorchester Minerals LP | Sold out | 0.00% | −0.59 |
| MINT PIMCO Enhanced Short Maturit | Sold out | 0.00% | −0.52 |
| MSFT Microsoft Corp. | Reduce -0.9% | 3.85% | +0.35 |
| WBD Warner Bros Discovery Inc. | Reduce -38.5% | 3.23% | +0.53 |
| NOC Northrop Grumman Corp. | Reduce -1.1% | 1.74% | +0.65 |
| CP Canadian Pacific Kansas City | Reduce -1.0% | 2.33% | +0.69 |
| HSY The Hershey Co. | Reduce -1.0% | 2.70% | +0.89 |
| MLM Martin Marietta Materials | Reduce -2.8% | 3.00% | +0.90 |
| LOW Lowe's Cos Inc. | Reduce -1.8% | 2.87% | +0.96 |
| HUBB Hubbell Inc. | Reduce -2.7% | 3.35% | +1.25 |
| FR First Industrial Realty TR | Reduce -1.3% | 3.48% | +1.25 |
| TJX TJX Companies Inc. | Reduce -3.0% | 4.59% | +1.37 |
| ABBV Abbvie Inc. | Reduce -1.8% | 5.46% | +1.38 |
| CB Chubb Ltd. | Reduce -1.8% | 4.36% | +1.50 |
| EXE Expand Energy Corp. | Reduce -1.6% | 5.77% | +1.66 |
| JNJ Johnson & Johnson | Reduce -11.0% | 4.71% | +1.70 |
| AMZN Amazon.com Inc. | Reduce -1.6% | 5.28% | +1.75 |
| BG Bunge Global SA | Reduce -5.0% | 3.73% | +1.78 |
| ET Energy Transfer LP | Reduce -1.2% | 5.73% | +1.86 |
| JPM JPMorgan Chase & Co. | Reduce -2.2% | 7.10% | +1.90 |
| XOM Exxon Mobil Corp. | Reduce -6.6% | 6.23% | +2.49 |
Portfolio Buys Q3 2025 → Q4 2025
| FANG Diamondback Energy Inc. | Add +18.1% | 4.59% | +2.15 |
| OXY Occidental Petroleum Corp. | Add +23.8% | 4.76% | +1.89 |
| CSCO Cisco Systems Inc. | Add +40.1% | 3.20% | +1.86 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +59.2% | 2.82% | +1.53 |
| LPX Louisiana-Pacific Corp. | Add +1.9% | 2.48% | +0.75 |
| JEPQ JPM Nasdaq Equity Premium | Add +0.0% | 2.06% | +0.61 |
| XES SS SPDR S&P Og Eqp & Serv | New | 0.20% | +0.20 |
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 |