First Dallas Securities Inc.

Name: First Dallas Securities Inc. 13F holdings, Q1 2024
Creator: First Dallas Securities Inc.
Published: 2024-04-16

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024

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%
PXD Pioneer Natural Resources Co.	0.15%	1,270	$333K	Reduce -7.3%
F Ford Motor Co. filed as FORD MTR CO DEL	0.15%	24,630	$327K	Add +3.3%
XRN Global Medical REIT Inc.	0.15%	36,750	$322K	Reduce -7.5%
SLB SLB Ltd. filed as SCHLUMBERGER LTD	0.14%	5,550	$304K	No change
FLG New York Community Bancorp	0.13%	91,000	$293K	Reduce -59.8%
ORCL Oracle Corp.	0.13%	2,300	$289K	Add +15.0%
STKL Sunopta Inc.	0.13%	41,500	$285K	No change
UAL United Airlines Holdings Inc.	0.13%	5,910	$283K	Reduce -2.0%
TXN Texas Instruments Inc.	0.13%	1,607	$280K	Reduce -5.8%
UPS United Parcel Service Class B	0.13%	1,853	$275K	Reduce -53.0%
LMT Lockheed Martin Corp.	0.12%	575	$262K	No change
EVH Evolent Health Inc. Class A	0.12%	7,800	$256K	New
DRI Darden Restaurants Inc.	0.11%	1,450	$242K	No change
URI United Rentals Inc.	0.11%	335	$242K	Reduce -37.4%
NXT Nextpower Inc. filed as NEXTRACKER INC	0.11%	4,195	$236K	New
STR Sitio Royalties Corp. Class A	0.10%	8,832	$218K	No change
DE Deere & Co.	0.10%	505	$208K	Add +0.4%
UPLD Upland Software Inc.	0.02%	12,500	$39K	Reduce -71.3%

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