First Dallas Securities Inc.

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 2, 2024), First Dallas Securities Inc. reported 117 stock positions worth $227.8 million. Its top holding was Nvidia (NVDA) at 11.2% of the portfolio, followed by Texas Pacific Land (TPL, 9.2%) and Apple (AAPL, 6.6%). Compared with Q1 2024, it opened 9 new positions, sold out of 10, added to 60 and reduced 35. The biggest buy was Nvidia (NVDA, shares +16%) and the biggest sale an exit from Encore Wire (WIRE).

Most Recent 13F
Q2 2026
Location
DALLAS, TX
CIK
0001378559
Portfolio Value
$227.8M (Q2 2024)
SEC Filing
0001378559-24-000003 ↗ filed Aug 2, 2024

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $217.4M Q1 2024 Q2 2024: $227.8M $227.8M Q2 2024 Q3 2024: $239.3M Q3 2024 Q4 2024: $245.4M Q4 2024 Q1 2025: $239.3M Q1 2025 Q2 2025: $253.0M Q2 2025 Q3 2025: $266.9M Q3 2025 Q4 2025: $268.8M Q4 2025 Q1 2026: $270.3M Q1 2026 Q2 2026: $302.6M Q2 2026

Holdings 117 stocks · $227.8M
NVDA Nvidia Corp. 11.20% 206,634 $25.5M Add +16.3%
TPL Texas Pacific Land Corp. 9.20% 28,544 $21.0M Reduce -1.4%
AAPL Apple Inc. 6.59% 71,340 $15.0M Reduce -25.0%
MSFT Microsoft Corp. 4.01% 20,433 $9.1M Add +25.9%
XOM Exxon Mobil Corp. 3.16% 62,593 $7.2M Add +4.2%
UBER Uber Technologies Inc. 2.58% 80,850 $5.9M Reduce -6.7%
OKE Oneok Inc. 2.35% 65,565 $5.3M Add +0.5%
FCX Freeport-McMoran Inc. 2.25% 105,334 $5.1M Add +10.7%
AMZN Amazon.com Inc. 2.13% 25,098 $4.9M Add +18.1%
META Meta Platforms Inc. Class A 1.85% 8,373 $4.2M Add +1.1%
EXP Eagle Materials Inc. 1.83% 19,207 $4.2M Add +53.3%
LLY Eli Lilly & Co. 1.63% 4,103 $3.7M Reduce -2.4%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 1.52% 20,041 $3.5M Add +128.9%
CAT Caterpillar Inc. 1.47% 10,046 $3.3M Reduce -1.5%
ABBV Abbvie Inc. 1.40% 18,580 $3.2M Reduce -1.6%
GNRC Generac Holdings Inc. 1.39% 24,025 $3.2M New
ETD Ethan Allen Interiors Inc. 1.39% 113,228 $3.2M Add +54.0%
BA The Boeing Co. 1.38% 17,226 $3.1M Add +1.8%
HD Home Depot Inc. 1.32% 8,718 $3.0M Add +1.3%
VST Vistra Corp. 1.31% 34,759 $3.0M Reduce -8.1%
JPM JPMorgan Chase & Co. 1.31% 14,741 $3.0M Add +0.5%
AMGN Amgen Inc. 1.30% 9,449 $3.0M Reduce -16.0%
ET Energy Transfer LP 1.29% 181,793 $2.9M Add +1.4%
DKNG Draftkings Inc. Class A 1.29% 76,800 $2.9M Add +64.1%
COST Costco Wholesale Corp. 1.23% 3,288 $2.8M Add +2.4%
MRK Merck & Co. Inc. 1.21% 22,327 $2.8M Add +8.6%
CLF Cleveland-Cliffs Inc. 1.09% 161,600 $2.5M Add +11.2%
AXP American Express Co. 1.09% 10,690 $2.5M Reduce -10.2%
EXE Expand Energy Corp. filed as CHESAPEAKE ENERGY CORP 1.08% 29,969 $2.5M Add +1.6%
ENLC Enlink Midstream LLC 0.96% 158,598 $2.2M Add +0.6%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.95% 54,177 $2.2M Reduce -4.7%
WYNN WYNN Resorts Ltd. 0.92% 23,351 $2.1M Add +14.8%
MU Micron Technology Inc. 0.90% 15,550 $2.0M Reduce -12.0%
TSM Taiwan Semiconductor-SP ADR 0.89% 11,678 $2.0M Add +46.4%
JNJ Johnson & Johnson 0.84% 13,169 $1.9M Reduce -2.7%
WMT Walmart Inc. 0.80% 26,809 $1.8M Add +41.7%
SCHW Schwab (charles) Corp. 0.78% 24,001 $1.8M Add +3.4%
T AT&T Inc. 0.78% 92,428 $1.8M Add +3.4%
XEL Xcel Energy Inc. 0.77% 32,744 $1.7M Add +1.4%
CSWC Capital Southwest Corp. 0.62% 54,223 $1.4M Add +1.4%
GOOG Alphabet Inc. Class C 0.59% 7,280 $1.3M Add +2.1%
HR Healthcare Realty Trust Inc. 0.58% 80,750 $1.3M Add +35.1%
NVO Novo-Nordisk A/S-Spons ADR 0.58% 9,315 $1.3M Reduce -39.8%
VZ Verizon Communications Inc. 0.57% 31,471 $1.3M Add +3.3%
CMC Commercial Metals Co. 0.54% 22,234 $1.2M Add +0.8%
ON On Semiconductor 0.49% 16,390 $1.1M Add +9.9%
BX Blackstone Inc. 0.48% 8,841 $1.1M Reduce -9.9%
DUK Duke Energy Corp. 0.48% 10,832 $1.1M Reduce -1.7%
ABNB Airbnb Inc. Class A 0.47% 7,130 $1.1M Add +1.8%
AEP American Electric Power 0.47% 12,092 $1.1M Add +12.3%
NCLH Norwegian Cruise Line Holdin 0.46% 55,450 $1.0M Add +57.9%
FDX FedEx Corp. 0.45% 3,432 $1.0M Reduce -17.9%
CALY Callaway Golf Company filed as TOPGOLF CALLAWAY BRANDS CORP 0.43% 63,300 $968K Reduce -13.2%
TSN Tyson Foods Inc. Class A 0.41% 16,202 $926K Add +13.8%
MMM 3M Co. 0.39% 8,721 $891K Add +15.6%
FOUR SHIFT4 Payments Inc. Class A 0.37% 11,500 $844K Add +1.8%
KO The Coca-Cola Co. 0.36% 12,788 $814K Reduce -4.1%
MCD McDonald's Corp. 0.33% 2,958 $754K Add +0.3%
ONON On Holding AG Class A filed as ON HLDG AG 0.32% 18,500 $718K Reduce -23.2%
PANW Palo Alto Networks Inc. 0.31% 2,100 $712K Add +5.0%
PFE Pfizer Inc. 0.31% 25,300 $708K Add +25.3%
SYM Symbotic Inc. 0.31% 20,100 $707K Add +4.2%
MS Morgan Stanley 0.31% 7,212 $701K Reduce -4.6%
BANC Banc of California Inc. 0.30% 53,725 $686K Add +34.3%
PR Permian Resources Corp. Class A 0.29% 41,387 $668K Add +4.8%
DVN Devon Energy Corp. 0.29% 14,101 $668K Add +4.0%
SO The Southern Co. 0.29% 8,570 $665K Add +1.8%
MTDR Matador Resources Co. 0.29% 11,123 $663K Add +0.0%
BRK.B Berkshire Hathaway Inc. Class B 0.29% 1,602 $652K Add +0.1%
ATO Atmos Energy Corp. 0.28% 5,546 $647K Add +0.1%
GOOGL Alphabet Inc. Class A 0.28% 3,487 $635K Add +13.0%
DELL Dell Technologies -C 0.28% 4,590 $633K New
CVX Chevron Corp. 0.27% 3,917 $613K Add +0.3%
BRK.A Berkshire Hathaway Inc. Class A 0.27% 1 $612K No change
PEP Pepsico Inc. 0.26% 3,642 $601K Add +5.3%
FANG Diamondback Energy Inc. 0.25% 2,896 $580K Add +0.5%
ISRG Intuitive Surgical Inc. 0.24% 1,250 $556K No change
SPG Simon Property Group Inc. 0.24% 3,600 $546K Add +5.9%
TFIN Triumph Financial Inc. 0.23% 6,525 $533K Reduce -54.6%
GS Goldman Sachs Group Inc. 0.23% 1,165 $527K No change
LUV Southwest Airlines Co. 0.22% 17,775 $508K Add +4.4%
AMD Advanced Micro Devices 0.22% 3,100 $503K New
HON Honeywell International Inc. 0.22% 2,350 $502K No change
GM General Motors Co. 0.21% 10,464 $486K Add +0.1%
MDT Medtronic PLC 0.20% 5,879 $463K Reduce -55.1%
COP Conocophillips 0.20% 3,963 $453K No change
AEE Ameren Corporation 0.20% 6,288 $447K Add +31.3%
CYBR Cyberark Software Ltd./Israel 0.19% 1,600 $437K No change
WFC Wells Fargo & Co. 0.19% 7,350 $437K No change
PG The Procter & Gamble Co. 0.19% 2,578 $425K Reduce -3.6%
CART Maplebear Inc. 0.19% 13,200 $424K New
CFR Cullen/Frost Bankers Inc. 0.18% 4,128 $420K Reduce -21.9%
DAL Delta Air Lines Inc. 0.18% 8,705 $413K Reduce -49.6%
DOW Dow Inc. 0.17% 7,431 $394K Reduce -1.9%
CMA Comerica Inc. 0.16% 7,230 $369K Reduce -7.5%
BLDR Builders Firstsource Inc. 0.15% 2,550 $353K Reduce -6.4%
ORCL Oracle Corp. 0.14% 2,300 $325K No change
XRN Global Medical REIT Inc. 0.14% 35,750 $325K Reduce -2.7%
TXN Texas Instruments Inc. 0.14% 1,607 $313K No change
SNBRQ Sleep Number Corp. 0.12% 29,500 $282K New
HP Helmerich & Payne 0.12% 7,811 $282K Reduce -13.8%
UPS United Parcel Service Class B 0.12% 1,979 $271K Add +6.8%
LMT Lockheed Martin Corp. 0.12% 575 $269K No change
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 0.12% 2,975 $267K Reduce -44.4%
DV Doubleverify Holdings Inc. 0.11% 13,075 $255K Reduce -25.9%
STKL Sunopta Inc. 0.11% 47,000 $254K Add +13.3%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.11% 5,300 $250K Reduce -4.5%
UAL United Airlines Holdings Inc. 0.11% 5,110 $249K Reduce -13.5%
HPE Hewlett Packard Enterprise 0.11% 11,650 $247K New
ULTA Ulta Beauty Inc. 0.11% 625 $241K New
F Ford Motor Co. filed as FORD MTR CO DEL 0.10% 19,051 $239K Reduce -22.6%
DRI Darden Restaurants Inc. 0.10% 1,450 $219K No change
URI United Rentals Inc. 0.10% 335 $217K No change
STR Sitio Royalties Corp. Class A 0.09% 8,832 $209K No change
CNK Cinemark Holdings Inc. 0.09% 9,600 $208K New
EVH Evolent Health Inc. Class A 0.09% 10,150 $194K Add +30.1%
IRWD Ironwood Pharmaceuticals Inc. 0.03% 11,250 $73K New

Portfolio Sells Q1 2024 → Q2 2024
WIRE Encore Wire Corp. Sold out 0.00% −4.63
AAPL Apple Inc. Reduce -25.0% 6.59% −0.90
UBER Uber Technologies Inc. Reduce -6.7% 2.58% −0.49
IBTX Independent Bank Group Inc. Sold out 0.00% −0.49
NVO Novo-Nordisk A/S-Spons ADR Reduce -39.8% 0.58% −0.33
MDT Medtronic PLC Reduce -55.1% 0.20% −0.32
TFIN Triumph Financial Inc. Reduce -54.6% 0.23% −0.29
CAT Caterpillar Inc. Reduce -1.5% 1.47% −0.25
AGCO Agco Corp. Sold out 0.00% −0.21
DAL Delta Air Lines Inc. Reduce -49.6% 0.18% −0.20
ABBV Abbvie Inc. Reduce -1.6% 1.40% −0.18
CB Chubb Ltd. Sold out 0.00% −0.18
AMGN Amgen Inc. Reduce -16.0% 1.30% −0.18
DV Doubleverify Holdings Inc. Reduce -25.9% 0.11% −0.17
UNH Unitedhealth Group Inc. Sold out 0.00% −0.17
AXP American Express Co. Reduce -10.2% 1.09% −0.16
PXD Pioneer Natural Resources Co. Sold out 0.00% −0.15
JNJ Johnson & Johnson Reduce -2.7% 0.84% −0.14
FLG New York Community Bancorp Sold out 0.00% −0.13
CALY Callaway Golf Company Reduce -13.2% 0.43% −0.12
BX Blackstone Inc. Reduce -9.9% 0.48% −0.11
NXT Nextpower Inc. Sold out 0.00% −0.11
BLDR Builders Firstsource Inc. Reduce -6.4% 0.15% −0.11
FDX FedEx Corp. Reduce -17.9% 0.45% −0.11
DE Deere & Co. Sold out 0.00% −0.10
CFR Cullen/Frost Bankers Inc. Reduce -21.9% 0.18% −0.09
IRM Iron Mountain Inc. Reduce -44.4% 0.12% −0.08
ONON On Holding AG Class A Reduce -23.2% 0.32% −0.08
MU Micron Technology Inc. Reduce -12.0% 0.90% −0.06
HP Helmerich & Payne Reduce -13.8% 0.12% −0.05
BAC Bank of America Corp. Reduce -4.7% 0.95% −0.05
F Ford Motor Co. Reduce -22.6% 0.10% −0.05
CMA Comerica Inc. Reduce -7.5% 0.16% −0.04
SLB SLB Ltd. Reduce -4.5% 0.11% −0.03
DOW Dow Inc. Reduce -1.9% 0.17% −0.03
UAL United Airlines Holdings Inc. Reduce -13.5% 0.11% −0.02
MS Morgan Stanley Reduce -4.6% 0.31% −0.02
KO The Coca-Cola Co. Reduce -4.1% 0.36% −0.02
UPLD Upland Software Inc. Sold out 0.00% −0.02
DUK Duke Energy Corp. Reduce -1.7% 0.48% −0.01
PG The Procter & Gamble Co. Reduce -3.6% 0.19% −0.01
XRN Global Medical REIT Inc. Reduce -2.7% 0.14% −0.01
VST Vistra Corp. Reduce -8.1% 1.31% +0.10
LLY Eli Lilly & Co. Reduce -2.4% 1.63% +0.13
TPL Texas Pacific Land Corp. Reduce -1.4% 9.20% +1.50

Portfolio Buys Q1 2024 → Q2 2024
NVDA Nvidia Corp. Add +16.3% 11.20% +3.82
GNRC Generac Holdings Inc. New 1.39% +1.39
MSFT Microsoft Corp. Add +25.9% 4.01% +0.87
IBM Intl Business Machines Corp. Add +128.9% 1.52% +0.75
TSM Taiwan Semiconductor-SP ADR Add +46.4% 0.89% +0.39
AMZN Amazon.com Inc. Add +18.1% 2.13% +0.37
DKNG Draftkings Inc. Class A Add +64.1% 1.29% +0.31
DELL Dell Technologies -C New 0.28% +0.28
WMT Walmart Inc. Add +41.7% 0.80% +0.27
EXP Eagle Materials Inc. Add +53.3% 1.83% +0.27
AMD Advanced Micro Devices New 0.22% +0.22
ETD Ethan Allen Interiors Inc. Add +54.0% 1.39% +0.22
HR Healthcare Realty Trust Inc. Add +35.1% 0.58% +0.20
FCX Freeport-McMoran Inc. Add +10.7% 2.25% +0.19
CART Maplebear Inc. New 0.19% +0.19
COST Costco Wholesale Corp. Add +2.4% 1.23% +0.15
SNBRQ Sleep Number Corp. New 0.12% +0.12
NCLH Norwegian Cruise Line Holdin Add +57.9% 0.46% +0.12
HPE Hewlett Packard Enterprise New 0.11% +0.11
ULTA Ulta Beauty Inc. New 0.11% +0.11
CNK Cinemark Holdings Inc. New 0.09% +0.09
GOOG Alphabet Inc. Class C Add +2.1% 0.59% +0.09
GOOGL Alphabet Inc. Class A Add +13.0% 0.28% +0.06
PFE Pfizer Inc. Add +25.3% 0.31% +0.05
T AT&T Inc. Add +3.4% 0.78% +0.05
PANW Palo Alto Networks Inc. Add +5.0% 0.31% +0.05
AEP American Electric Power Add +12.3% 0.47% +0.04
AEE Ameren Corporation Add +31.3% 0.20% +0.03
IRWD Ironwood Pharmaceuticals Inc. New 0.03% +0.03
FOUR SHIFT4 Payments Inc. Class A Add +1.8% 0.37% +0.03
MMM 3M Co. Add +15.6% 0.39% +0.02
TSN Tyson Foods Inc. Class A Add +13.8% 0.41% +0.02
BANC Banc of California Inc. Add +34.3% 0.30% +0.02
SO The Southern Co. Add +1.8% 0.29% +0.01
CSWC Capital Southwest Corp. Add +1.4% 0.62% +0.01
SCHW Schwab (charles) Corp. Add +3.4% 0.78% +0.00
META Meta Platforms Inc. Class A Add +1.1% 1.85% +0.00
ET Energy Transfer LP Add +1.4% 1.29% −0.00
GM General Motors Co. Add +0.1% 0.21% −0.00
SPG Simon Property Group Inc. Add +5.9% 0.24% −0.00
LUV Southwest Airlines Co. Add +4.4% 0.22% −0.01
UPS United Parcel Service Class B Add +6.8% 0.12% −0.01
FANG Diamondback Energy Inc. Add +0.5% 0.25% −0.01
ON On Semiconductor Add +9.9% 0.49% −0.01
CVX Chevron Corp. Add +0.3% 0.27% −0.01
PEP Pepsico Inc. Add +5.3% 0.26% −0.01
VZ Verizon Communications Inc. Add +3.3% 0.57% −0.02
ATO Atmos Energy Corp. Add +0.1% 0.28% −0.02
STKL Sunopta Inc. Add +13.3% 0.11% −0.02
DVN Devon Energy Corp. Add +4.0% 0.29% −0.02

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 125$302.6MNVDA, TPL, AAPL, AMZN, CAT
Q1 2026 118$270.3MNVDA, TPL, AAPL, AMZN, XOM
Q4 2025 107$268.8MNVDA, TPL, AAPL, AMZN, MSFT
Q3 2025 113$266.9MNVDA, TPL, AAPL, AMZN, MSFT
Q2 2025 123$253.0MNVDA, TPL, AAPL, AMZN, MSFT
Q1 2025 112$239.3MTPL, NVDA, AAPL, OKE, AMZN
Q4 2024 112$245.4MTPL, NVDA, AAPL, MSFT, AMZN
Q3 2024 119$239.3MNVDA, TPL, AAPL, MSFT, XOM
Q2 2024 117$227.8MNVDA, TPL, AAPL, MSFT, XOM
Q1 2024 118$217.4MTPL, AAPL, NVDA, WIRE, XOM