First Dallas Securities Inc.
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed April 16, 2024), First Dallas Securities Inc. reported 118 stock positions worth $217.4 million. Its top holding was Texas Pacific Land (TPL) at 7.7% of the portfolio, followed by Apple (AAPL, 7.5%) and Nvidia (NVDA, 7.4%). Compared with Q4 2023, it opened 7 new positions, sold out of 11, added to 41 and reduced 58. The biggest buy was Nvidia (NVDA, shares +9%) and the biggest sale Apple (AAPL, shares −6%).
- Most Recent 13F
- Q2 2026
- Location
- DALLAS, TX
- CIK
- 0001378559
- Portfolio Value
- $217.4M (Q1 2024)
- SEC Filing
- 0001378559-24-000002 ↗ filed Apr 16, 2024
Holdings Value
Holdings 118 stocks · $217.4M
| TPL Texas Pacific Land Corp. | 7.70% | 28,935 | $16.7M | Reduce -1.2% |
| AAPL Apple Inc. | 7.50% | 95,075 | $16.3M | Reduce -6.1% |
| NVDA Nvidia Corp. | 7.39% | 17,771 | $16.1M | Add +8.8% |
| WIRE Encore Wire Corp. | 4.63% | 38,344 | $10.1M | Add +4.1% |
| XOM Exxon Mobil Corp. | 3.21% | 60,098 | $7.0M | Reduce -0.4% |
| MSFT Microsoft Corp. | 3.14% | 16,234 | $6.8M | Add +0.1% |
| UBER Uber Technologies Inc. | 3.07% | 86,650 | $6.7M | Reduce -8.9% |
| OKE Oneok Inc. | 2.41% | 65,272 | $5.2M | Add +0.7% |
| FCX Freeport-McMoran Inc. | 2.06% | 95,176 | $4.5M | Add +17.3% |
| META Meta Platforms Inc. Class A | 1.85% | 8,286 | $4.0M | Add +1.0% |
| AMZN Amazon.com Inc. | 1.76% | 21,242 | $3.8M | Add +56.1% |
| CAT Caterpillar Inc. | 1.72% | 10,198 | $3.7M | Reduce -1.0% |
| ABBV Abbvie Inc. | 1.58% | 18,875 | $3.4M | Reduce -5.5% |
| EXP Eagle Materials Inc. | 1.57% | 12,532 | $3.4M | Reduce -20.4% |
| CLF Cleveland-Cliffs Inc. | 1.52% | 145,350 | $3.3M | No change |
| HD Home Depot Inc. | 1.52% | 8,607 | $3.3M | Reduce -0.2% |
| LLY Eli Lilly & Co. | 1.50% | 4,203 | $3.3M | Reduce -0.5% |
| BA The Boeing Co. | 1.50% | 16,926 | $3.3M | Add +3.4% |
| AMGN Amgen Inc. | 1.47% | 11,253 | $3.2M | Reduce -4.5% |
| JPM JPMorgan Chase & Co. | 1.35% | 14,672 | $2.9M | Reduce -2.9% |
| ET Energy Transfer LP | 1.30% | 179,276 | $2.8M | Add +15.3% |
| MRK Merck & Co. Inc. | 1.25% | 20,559 | $2.7M | Add +10.8% |
| AXP American Express Co. | 1.25% | 11,899 | $2.7M | Reduce -11.0% |
| VST Vistra Corp. | 1.21% | 37,814 | $2.6M | Reduce -1.7% |
| EXE Expand Energy Corp. filed as CHESAPEAKE ENERGY CORP | 1.21% | 29,512 | $2.6M | Reduce -10.8% |
| ETD Ethan Allen Interiors Inc. | 1.17% | 73,526 | $2.5M | Add +10.6% |
| COST Costco Wholesale Corp. | 1.08% | 3,211 | $2.4M | Add +1.4% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.99% | 56,856 | $2.2M | Reduce -7.9% |
| ENLC Enlink Midstream LLC | 0.99% | 157,638 | $2.1M | Reduce -17.0% |
| JNJ Johnson & Johnson | 0.98% | 13,529 | $2.1M | Reduce -3.3% |
| DKNG Draftkings Inc. Class A | 0.98% | 46,800 | $2.1M | Add +8.7% |
| MU Micron Technology Inc. | 0.96% | 17,675 | $2.1M | Reduce -27.1% |
| WYNN WYNN Resorts Ltd. | 0.96% | 20,350 | $2.1M | Add +70.6% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.91% | 15,476 | $2.0M | Reduce -3.7% |
| XEL Xcel Energy Inc. | 0.80% | 32,283 | $1.7M | Reduce -8.4% |
| SCHW Schwab (charles) Corp. | 0.77% | 23,215 | $1.7M | Reduce -13.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.77% | 8,755 | $1.7M | Add +373.2% |
| T AT&T Inc. | 0.72% | 89,383 | $1.6M | Reduce -5.5% |
| CSWC Capital Southwest Corp. | 0.61% | 53,448 | $1.3M | Add +7.3% |
| CMC Commercial Metals Co. | 0.60% | 22,049 | $1.3M | Reduce -9.6% |
| BX Blackstone Inc. | 0.59% | 9,815 | $1.3M | Reduce -25.4% |
| VZ Verizon Communications Inc. | 0.59% | 30,464 | $1.3M | Add +8.5% |
| FDX FedEx Corp. | 0.56% | 4,181 | $1.2M | Reduce -3.4% |
| CALY Callaway Golf Company filed as TOPGOLF CALLAWAY BRANDS CORP | 0.54% | 72,950 | $1.2M | Add +13.2% |
| ABNB Airbnb Inc. Class A | 0.53% | 7,005 | $1.2M | Add +4.5% |
| MDT Medtronic PLC | 0.53% | 13,098 | $1.1M | Add +12.4% |
| TFIN Triumph Financial Inc. | 0.52% | 14,385 | $1.1M | Reduce -19.9% |
| WMT Walmart Inc. | 0.52% | 18,923 | $1.1M | No change |
| ON On Semiconductor | 0.50% | 14,915 | $1.1M | Add +0.4% |
| GOOG Alphabet Inc. Class C | 0.50% | 7,130 | $1.1M | Reduce -1.5% |
| TSM Taiwan Semiconductor-SP ADR | 0.50% | 7,977 | $1.1M | Reduce -22.9% |
| DUK Duke Energy Corp. | 0.49% | 11,015 | $1.1M | Reduce -3.2% |
| IBTX Independent Bank Group Inc. | 0.49% | 23,252 | $1.1M | New |
| AEP American Electric Power | 0.43% | 10,766 | $927K | Add +233.8% |
| SYM Symbotic Inc. | 0.40% | 19,300 | $869K | Add +60.8% |
| ONON On Holding AG Class A filed as ON HLDG AG | 0.39% | 24,100 | $853K | Reduce -11.2% |
| HR Healthcare Realty Trust Inc. | 0.39% | 59,750 | $845K | New |
| TSN Tyson Foods Inc. Class A | 0.38% | 14,240 | $836K | New |
| MCD McDonald's Corp. | 0.38% | 2,949 | $831K | Reduce -1.4% |
| DAL Delta Air Lines Inc. | 0.38% | 17,280 | $827K | Add +43.3% |
| KO The Coca-Cola Co. | 0.38% | 13,333 | $816K | Reduce -8.7% |
| MMM 3M Co. | 0.37% | 7,544 | $800K | Reduce -65.0% |
| FOUR SHIFT4 Payments Inc. Class A | 0.34% | 11,300 | $747K | Reduce -8.5% |
| MTDR Matador Resources Co. | 0.34% | 11,119 | $742K | Add +5.5% |
| NCLH Norwegian Cruise Line Holdin | 0.34% | 35,110 | $735K | Add +0.7% |
| MS Morgan Stanley | 0.33% | 7,562 | $712K | Add +21.0% |
| PR Permian Resources Corp. Class A | 0.32% | 39,510 | $698K | Add +7.1% |
| DVN Devon Energy Corp. | 0.31% | 13,562 | $681K | Add +83.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.31% | 1,600 | $673K | No change |
| ATO Atmos Energy Corp. | 0.30% | 5,542 | $659K | Reduce -4.3% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.29% | 1 | $634K | No change |
| DV Doubleverify Holdings Inc. | 0.29% | 17,640 | $620K | New |
| CVX Chevron Corp. | 0.28% | 3,906 | $616K | Reduce -4.6% |
| BANC Banc of California Inc. | 0.28% | 40,000 | $608K | New |
| PEP Pepsico Inc. | 0.28% | 3,458 | $605K | Reduce -4.0% |
| SO The Southern Co. | 0.28% | 8,420 | $604K | Reduce -5.1% |
| CFR Cullen/Frost Bankers Inc. | 0.27% | 5,284 | $595K | Add +18.6% |
| FANG Diamondback Energy Inc. | 0.26% | 2,882 | $571K | Add +0.8% |
| BLDR Builders Firstsource Inc. | 0.26% | 2,725 | $568K | Reduce -20.4% |
| PANW Palo Alto Networks Inc. | 0.26% | 2,000 | $568K | Add +66.7% |
| PFE Pfizer Inc. | 0.26% | 20,200 | $561K | Add +36.0% |
| SPG Simon Property Group Inc. | 0.24% | 3,400 | $532K | Add +13.3% |
| COP Conocophillips | 0.23% | 3,963 | $504K | No change |
| ISRG Intuitive Surgical Inc. | 0.23% | 1,250 | $499K | Reduce -0.4% |
| LUV Southwest Airlines Co. | 0.23% | 17,025 | $497K | Reduce -8.3% |
| GS Goldman Sachs Group Inc. | 0.22% | 1,165 | $487K | Reduce -7.9% |
| HON Honeywell International Inc. | 0.22% | 2,350 | $482K | No change |
| GM General Motors Co. | 0.22% | 10,458 | $474K | Reduce -40.8% |
| GOOGL Alphabet Inc. Class A | 0.21% | 3,085 | $466K | Add +0.5% |
| AGCO Agco Corp. | 0.21% | 3,705 | $456K | Add +15.8% |
| DOW Dow Inc. | 0.20% | 7,579 | $439K | Reduce -37.8% |
| PG The Procter & Gamble Co. | 0.20% | 2,674 | $434K | Reduce -14.8% |
| CMA Comerica Inc. | 0.20% | 7,815 | $430K | Reduce -41.1% |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 0.20% | 5,350 | $429K | Reduce -19.3% |
| WFC Wells Fargo & Co. | 0.20% | 7,350 | $426K | Reduce -4.5% |
| CYBR Cyberark Software Ltd./Israel | 0.20% | 1,600 | $425K | Add +3.2% |
| CB Chubb Ltd. | 0.18% | 1,500 | $389K | Reduce -11.9% |
| HP Helmerich & Payne | 0.18% | 9,059 | $381K | Add +11.1% |
| UNH Unitedhealth Group Inc. | 0.17% | 750 | $371K | No change |
| AEE Ameren Corporation | 0.16% | 4,788 | $354K | Reduce -8.6% |
Portfolio Sells Q4 2023 → Q1 2024
| AAPL Apple Inc. | Reduce -6.1% | 7.50% | −2.55 |
| FLG New York Community Bancorp | Reduce -59.8% | 0.13% | −1.06 |
| MMM 3M Co. | Reduce -65.0% | 0.37% | −0.85 |
| XEL Xcel Energy Inc. | Reduce -8.4% | 0.80% | −0.33 |
| BX Blackstone Inc. | Reduce -25.4% | 0.59% | −0.30 |
| CSCO Cisco Systems Inc. | Sold out | 0.00% | −0.28 |
| AMGN Amgen Inc. | Reduce -4.5% | 1.47% | −0.28 |
| TSLA Tesla Inc. | Sold out | 0.00% | −0.23 |
| TFIN Triumph Financial Inc. | Reduce -19.9% | 0.52% | −0.22 |
| TPL Texas Pacific Land Corp. | Reduce -1.2% | 7.70% | −0.21 |
| QCOM Qualcomm Inc. | Sold out | 0.00% | −0.21 |
| ENLC Enlink Midstream LLC | Reduce -17.0% | 0.99% | −0.20 |
| UPS United Parcel Service Class B | Reduce -53.0% | 0.13% | −0.19 |
| CMA Comerica Inc. | Reduce -41.1% | 0.20% | −0.18 |
| SCHW Schwab (charles) Corp. | Reduce -13.1% | 0.77% | −0.17 |
| CVS CVS Health Corp. | Sold out | 0.00% | −0.17 |
| ASO Academy Sports & Outdoors Inc. | Sold out | 0.00% | −0.16 |
| NFLX Netflix Inc. | Sold out | 0.00% | −0.15 |
| JNJ Johnson & Johnson | Reduce -3.3% | 0.98% | −0.14 |
| DOW Dow Inc. | Reduce -37.8% | 0.20% | −0.14 |
| ULCC Frontier Group Holdings Inc. | Sold out | 0.00% | −0.14 |
| FOUR SHIFT4 Payments Inc. Class A | Reduce -8.5% | 0.34% | −0.13 |
| LULU Lululemon Athletica Inc. | Sold out | 0.00% | −0.12 |
| WBA Walgreens Boots Alliance Inc. | Sold out | 0.00% | −0.12 |
| CNK Cinemark Holdings Inc. | Sold out | 0.00% | −0.11 |
| GM General Motors Co. | Reduce -40.8% | 0.22% | −0.11 |
| MU Micron Technology Inc. | Reduce -27.1% | 0.96% | −0.11 |
| EXE Expand Energy Corp. | Reduce -10.8% | 1.21% | −0.11 |
| T AT&T Inc. | Reduce -5.5% | 0.72% | −0.09 |
| GEO The Geo Group Inc. | Sold out | 0.00% | −0.09 |
| DUK Duke Energy Corp. | Reduce -3.2% | 0.49% | −0.08 |
| XRN Global Medical REIT Inc. | Reduce -7.5% | 0.15% | −0.08 |
| BAC Bank of America Corp. | Reduce -7.9% | 0.99% | −0.08 |
| EXP Eagle Materials Inc. | Reduce -20.4% | 1.57% | −0.08 |
| UPLD Upland Software Inc. | Reduce -71.3% | 0.02% | −0.08 |
| MCD McDonald's Corp. | Reduce -1.4% | 0.38% | −0.07 |
| KO The Coca-Cola Co. | Reduce -8.7% | 0.38% | −0.07 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -22.9% | 0.50% | −0.06 |
| LUV Southwest Airlines Co. | Reduce -8.3% | 0.23% | −0.05 |
| URI United Rentals Inc. | Reduce -37.4% | 0.11% | −0.05 |
| AXP American Express Co. | Reduce -11.0% | 1.25% | −0.04 |
| ATO Atmos Energy Corp. | Reduce -4.3% | 0.30% | −0.04 |
| SO The Southern Co. | Reduce -5.1% | 0.28% | −0.04 |
| IRM Iron Mountain Inc. | Reduce -19.3% | 0.20% | −0.04 |
| PG The Procter & Gamble Co. | Reduce -14.8% | 0.20% | −0.04 |
| PEP Pepsico Inc. | Reduce -4.0% | 0.28% | −0.04 |
| BLDR Builders Firstsource Inc. | Reduce -20.4% | 0.26% | −0.03 |
| AEE Ameren Corporation | Reduce -8.6% | 0.16% | −0.03 |
| CMC Commercial Metals Co. | Reduce -9.6% | 0.60% | −0.03 |
| CVX Chevron Corp. | Reduce -4.6% | 0.28% | −0.03 |
Portfolio Buys Q4 2023 → Q1 2024
| NVDA Nvidia Corp. | Add +8.8% | 7.39% | +3.22 |
| AMZN Amazon.com Inc. | Add +56.1% | 1.76% | +0.70 |
| IBM Intl Business Machines Corp. | Add +373.2% | 0.77% | +0.61 |
| WIRE Encore Wire Corp. | Add +4.1% | 4.63% | +0.58 |
| IBTX Independent Bank Group Inc. | New | 0.49% | +0.49 |
| WYNN WYNN Resorts Ltd. | Add +70.6% | 0.96% | +0.40 |
| HR Healthcare Realty Trust Inc. | New | 0.39% | +0.39 |
| TSN Tyson Foods Inc. Class A | New | 0.38% | +0.38 |
| META Meta Platforms Inc. Class A | Add +1.0% | 1.85% | +0.35 |
| AEP American Electric Power | Add +233.8% | 0.43% | +0.29 |
| DV Doubleverify Holdings Inc. | New | 0.29% | +0.29 |
| BANC Banc of California Inc. | New | 0.28% | +0.28 |
| FCX Freeport-McMoran Inc. | Add +17.3% | 2.06% | +0.28 |
| MRK Merck & Co. Inc. | Add +10.8% | 1.25% | +0.21 |
| DKNG Draftkings Inc. Class A | Add +8.7% | 0.98% | +0.20 |
| ET Energy Transfer LP | Add +15.3% | 1.30% | +0.19 |
| DVN Devon Energy Corp. | Add +83.0% | 0.31% | +0.14 |
| DAL Delta Air Lines Inc. | Add +43.3% | 0.38% | +0.13 |
| EVH Evolent Health Inc. Class A | New | 0.12% | +0.12 |
| NXT Nextpower Inc. | New | 0.11% | +0.11 |
| SYM Symbotic Inc. | Add +60.8% | 0.40% | +0.08 |
| PANW Palo Alto Networks Inc. | Add +66.7% | 0.26% | +0.08 |
| ETD Ethan Allen Interiors Inc. | Add +10.6% | 1.17% | +0.08 |
| CALY Callaway Golf Company | Add +13.2% | 0.54% | +0.07 |
| OKE Oneok Inc. | Add +0.7% | 2.41% | +0.06 |
| PR Permian Resources Corp. Class A | Add +7.1% | 0.32% | +0.06 |
| ABNB Airbnb Inc. Class A | Add +4.5% | 0.53% | +0.06 |
| VZ Verizon Communications Inc. | Add +8.5% | 0.59% | +0.04 |
| PFE Pfizer Inc. | Add +36.0% | 0.26% | +0.04 |
| FANG Diamondback Energy Inc. | Add +0.8% | 0.26% | +0.03 |
| MTDR Matador Resources Co. | Add +5.5% | 0.34% | +0.03 |
| MDT Medtronic PLC | Add +12.4% | 0.53% | +0.03 |
| MS Morgan Stanley | Add +21.0% | 0.33% | +0.03 |
| CFR Cullen/Frost Bankers Inc. | Add +18.6% | 0.27% | +0.02 |
| ORCL Oracle Corp. | Add +15.0% | 0.13% | +0.02 |
| SPG Simon Property Group Inc. | Add +13.3% | 0.24% | +0.02 |
| HP Helmerich & Payne | Add +11.1% | 0.18% | +0.02 |
| CYBR Cyberark Software Ltd./Israel | Add +3.2% | 0.20% | +0.02 |
| AGCO Agco Corp. | Add +15.8% | 0.21% | +0.01 |
| CSWC Capital Southwest Corp. | Add +7.3% | 0.61% | +0.01 |
| COST Costco Wholesale Corp. | Add +1.4% | 1.08% | +0.01 |
| F Ford Motor Co. | Add +3.3% | 0.15% | +0.00 |
| MSFT Microsoft Corp. | Add +0.1% | 3.14% | −0.00 |
| GOOGL Alphabet Inc. Class A | Add +0.5% | 0.21% | −0.01 |
| DE Deere & Co. | Add +0.4% | 0.10% | −0.01 |
| NCLH Norwegian Cruise Line Holdin | Add +0.7% | 0.34% | −0.02 |
| ON On Semiconductor | Add +0.4% | 0.50% | −0.13 |
| BA The Boeing Co. | Add +3.4% | 1.50% | −0.70 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 125 | $302.6M | NVDA, TPL, AAPL, AMZN, CAT |
| Q1 2026 | 118 | $270.3M | NVDA, TPL, AAPL, AMZN, XOM |
| Q4 2025 | 107 | $268.8M | NVDA, TPL, AAPL, AMZN, MSFT |
| Q3 2025 | 113 | $266.9M | NVDA, TPL, AAPL, AMZN, MSFT |
| Q2 2025 | 123 | $253.0M | NVDA, TPL, AAPL, AMZN, MSFT |
| Q1 2025 | 112 | $239.3M | TPL, NVDA, AAPL, OKE, AMZN |
| Q4 2024 | 112 | $245.4M | TPL, NVDA, AAPL, MSFT, AMZN |
| Q3 2024 | 119 | $239.3M | NVDA, TPL, AAPL, MSFT, XOM |
| Q2 2024 | 117 | $227.8M | NVDA, TPL, AAPL, MSFT, XOM |
| Q1 2024 | 118 | $217.4M | TPL, AAPL, NVDA, WIRE, XOM |