First Dallas Securities Inc.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 24, 2025), First Dallas Securities Inc. reported 112 stock positions worth $245.4 million. Its top holding was Texas Pacific Land (TPL) at 11.5% of the portfolio, followed by Nvidia (NVDA, 11.5%) and Apple (AAPL, 7.3%). Compared with Q3 2024, it opened 3 new positions, sold out of 10, added to 44 and reduced 47. The biggest buy was Amazon.com (AMZN, shares +24%) and the biggest sale Exxon Mobil (XOM, shares −6%).
- Most Recent 13F
- Q2 2026
- Location
- DALLAS, TX
- CIK
- 0001378559
- Portfolio Value
- $245.4M (Q4 2024)
- SEC Filing
- 0001337263-25-000002 ↗ filed Jan 24, 2025
Holdings Value
Holdings 112 stocks · $245.4M
| TPL Texas Pacific Land Corp. | 11.46% | 25,434 | $28.1M | Reduce -3.4% |
| NVDA Nvidia Corp. | 11.45% | 209,286 | $28.1M | Add +0.9% |
| AAPL Apple Inc. | 7.29% | 71,405 | $17.9M | Add +0.0% |
| MSFT Microsoft Corp. | 3.50% | 20,396 | $8.6M | Add +0.1% |
| AMZN Amazon.com Inc. | 3.14% | 35,108 | $7.7M | Add +24.3% |
| OKE Oneok Inc. | 2.59% | 63,403 | $6.4M | Add +0.3% |
| XOM Exxon Mobil Corp. | 2.49% | 56,896 | $6.1M | Reduce -5.5% |
| UBER Uber Technologies Inc. | 1.96% | 79,700 | $4.8M | No change |
| WYNN WYNN Resorts Ltd. | 1.87% | 53,165 | $4.6M | Add +1.4% |
| META Meta Platforms Inc. Class A | 1.81% | 7,589 | $4.4M | Reduce -4.2% |
| FCX Freeport-McMoran Inc. | 1.75% | 112,876 | $4.3M | Add +0.6% |
| GNRC Generac Holdings Inc. | 1.68% | 26,575 | $4.1M | Reduce -3.3% |
| HD Home Depot Inc. | 1.56% | 9,811 | $3.8M | Add +29.9% |
| EXP Eagle Materials Inc. | 1.53% | 15,200 | $3.8M | Add +6.4% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.51% | 16,898 | $3.7M | Reduce -12.0% |
| CAT Caterpillar Inc. | 1.46% | 9,868 | $3.6M | Add +0.2% |
| ET Energy Transfer LP | 1.43% | 178,754 | $3.5M | Add +1.5% |
| VST Vistra Corp. | 1.42% | 25,337 | $3.5M | Reduce -4.8% |
| JPM JPMorgan Chase & Co. | 1.39% | 14,267 | $3.4M | Reduce -0.3% |
| ETD Ethan Allen Interiors Inc. | 1.39% | 121,285 | $3.4M | Add +3.4% |
| ABBV Abbvie Inc. | 1.32% | 18,269 | $3.2M | Add +3.6% |
| LLY Eli Lilly & Co. | 1.26% | 4,012 | $3.1M | Add +2.6% |
| DKNG Draftkings Inc. Class A | 1.16% | 76,816 | $2.9M | Reduce -1.9% |
| BA The Boeing Co. | 1.12% | 15,466 | $2.7M | Reduce -7.6% |
| WMT Walmart Inc. | 1.09% | 29,536 | $2.7M | Add +0.4% |
| EXE Expand Energy Corp. | 1.08% | 26,547 | $2.6M | Add +7.5% |
| COST Costco Wholesale Corp. | 1.03% | 2,753 | $2.5M | Reduce -12.7% |
| SN Sharkninja Inc. | 0.92% | 23,275 | $2.3M | Add +1078.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.89% | 49,694 | $2.2M | Reduce -0.8% |
| MRK Merck & Co. Inc. | 0.86% | 21,336 | $2.1M | Reduce -15.4% |
| T AT&T Inc. | 0.83% | 89,658 | $2.0M | Add +2.8% |
| TSM Taiwan Semiconductor-SP ADR | 0.78% | 9,655 | $1.9M | Reduce -3.0% |
| CLF Cleveland-Cliffs Inc. | 0.77% | 201,500 | $1.9M | Reduce -2.5% |
| AMGN Amgen Inc. | 0.77% | 7,257 | $1.9M | Reduce -9.2% |
| XEL Xcel Energy Inc. | 0.72% | 26,090 | $1.8M | Reduce -6.1% |
| JNJ Johnson & Johnson | 0.71% | 12,033 | $1.7M | Reduce -3.7% |
| DVN Devon Energy Corp. | 0.70% | 52,715 | $1.7M | Add +31.9% |
| AXP American Express Co. | 0.65% | 5,412 | $1.6M | Reduce -37.8% |
| CMC Commercial Metals Co. | 0.61% | 30,079 | $1.5M | Add +41.5% |
| CSWC Capital Southwest Corp. | 0.60% | 67,108 | $1.5M | Add +18.8% |
| HR Healthcare Realty Trust Inc. | 0.58% | 84,250 | $1.4M | Add +6.3% |
| UPS United Parcel Service Class B | 0.58% | 11,319 | $1.4M | Reduce -0.9% |
| BX Blackstone Inc. | 0.57% | 8,075 | $1.4M | Reduce -3.0% |
| SCHW Schwab (charles) Corp. | 0.57% | 18,815 | $1.4M | Add +1.9% |
| BANC Banc of California Inc. | 0.49% | 77,975 | $1.2M | Add +25.8% |
| MU Micron Technology Inc. | 0.48% | 14,000 | $1.2M | Reduce -6.0% |
| VZ Verizon Communications Inc. | 0.48% | 29,260 | $1.2M | Reduce -7.8% |
| WFC Wells Fargo & Co. | 0.47% | 16,375 | $1.1M | Add +116.9% |
| DUK Duke Energy Corp. | 0.44% | 10,059 | $1.1M | Add +1.5% |
| ABNB Airbnb Inc. Class A | 0.44% | 8,230 | $1.1M | Reduce -7.8% |
| MMM 3M Co. | 0.44% | 8,344 | $1.1M | Add +0.0% |
| AEP American Electric Power | 0.44% | 11,623 | $1.1M | Reduce -0.2% |
| ENLC Enlink Midstream LLC | 0.43% | 73,731 | $1.0M | Reduce -2.2% |
| MTZ Mastec Inc. | 0.42% | 7,600 | $1.0M | Add +102.7% |
| GOOG Alphabet Inc. Class C | 0.42% | 5,365 | $1.0M | Add +55.1% |
| WHR Whirlpool Corp. | 0.38% | 8,125 | $930K | Add +99.4% |
| GOOGL Alphabet Inc. Class A | 0.38% | 4,899 | $927K | Reduce -2.9% |
| NCLH Norwegian Cruise Line Holdin | 0.37% | 35,450 | $912K | Reduce -38.1% |
| FDX FedEx Corp. | 0.37% | 3,222 | $906K | No change |
| MCD McDonald's Corp. | 0.34% | 2,875 | $833K | Add +1.8% |
| PANW Palo Alto Networks Inc. | 0.32% | 4,260 | $775K | No change |
| PR Permian Resources Corp. Class A | 0.31% | 53,041 | $763K | Add +23.3% |
| ON On Semiconductor | 0.31% | 11,915 | $751K | Reduce -25.9% |
| KO The Coca-Cola Co. | 0.30% | 11,917 | $742K | Reduce -0.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.30% | 1,602 | $726K | No change |
| C Citigroup Inc. | 0.29% | 10,267 | $723K | Add +5.2% |
| GS Goldman Sachs Group Inc. | 0.29% | 1,260 | $722K | No change |
| ONON On Holding AG Class A filed as ON HLDG AG | 0.28% | 12,595 | $690K | Reduce -4.4% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.28% | 1 | $681K | No change |
| ATO Atmos Energy Corp. | 0.27% | 4,821 | $671K | Reduce -2.0% |
| HPE Hewlett Packard Enterprise | 0.27% | 30,759 | $657K | Add +119.6% |
| MS Morgan Stanley | 0.26% | 5,062 | $636K | Reduce -14.4% |
| SNBRQ Sleep Number Corp. | 0.26% | 41,500 | $632K | Add +40.7% |
| MTDR Matador Resources Co. | 0.26% | 11,131 | $626K | Add +0.0% |
| TFIN Triumph Financial Inc. | 0.24% | 6,525 | $593K | No change |
| SO The Southern Co. | 0.24% | 7,020 | $578K | No change |
| FOUR SHIFT4 Payments Inc. Class A | 0.23% | 5,325 | $553K | Reduce -14.8% |
| CFR Cullen/Frost Bankers Inc. | 0.22% | 4,028 | $541K | Add +2.5% |
| SPG Simon Property Group Inc. | 0.22% | 3,100 | $534K | Reduce -13.9% |
| HON Honeywell International Inc. | 0.22% | 2,350 | $531K | No change |
| LMT Lockheed Martin Corp. | 0.21% | 1,075 | $522K | No change |
| CYBR Cyberark Software Ltd./Israel | 0.21% | 1,550 | $516K | No change |
| AEE Ameren Corporation | 0.21% | 5,725 | $510K | No change |
| AVGO Broadcom Inc. | 0.20% | 2,100 | $487K | Reduce -13.2% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.20% | 5,654 | $486K | Add +17.4% |
| FANG Diamondback Energy Inc. | 0.19% | 2,920 | $478K | Add +0.2% |
| ISRG Intuitive Surgical Inc. | 0.19% | 900 | $470K | Reduce -21.7% |
| DELL Dell Technologies -C | 0.19% | 3,945 | $455K | Reduce -20.6% |
| LUV Southwest Airlines Co. | 0.18% | 13,125 | $441K | Reduce -19.9% |
| PEP Pepsico Inc. | 0.18% | 2,845 | $433K | No change |
| LIF LIFE360 Inc. | 0.18% | 10,450 | $431K | Add +50.4% |
| SYM Symbotic Inc. | 0.17% | 17,500 | $415K | Reduce -46.0% |
| CVX Chevron Corp. | 0.17% | 2,845 | $412K | Reduce -1.1% |
| NFLX Netflix Inc. | 0.17% | 460 | $410K | No change |
| PTLO Portillo's Inc. Class A | 0.17% | 43,250 | $407K | Add +94.4% |
| XRN Global Medical REIT Inc. | 0.16% | 52,000 | $401K | Add +13.7% |
| COP Conocophillips | 0.16% | 3,963 | $393K | No change |
| ORCL Oracle Corp. | 0.16% | 2,300 | $383K | No change |
| STKL Sunopta Inc. | 0.15% | 47,000 | $362K | No change |
| DE Deere & Co. | 0.15% | 840 | $356K | No change |
Portfolio Sells Q3 2024 → Q4 2024
| XOM Exxon Mobil Corp. | Reduce -5.5% | 2.49% | −0.46 |
| TSN Tyson Foods Inc. Class A | Sold out | 0.00% | −0.38 |
| MRK Merck & Co. Inc. | Reduce -15.4% | 0.86% | −0.33 |
| CLF Cleveland-Cliffs Inc. | Reduce -2.5% | 0.77% | −0.33 |
| AXP American Express Co. | Reduce -37.8% | 0.65% | −0.33 |
| AMGN Amgen Inc. | Reduce -9.2% | 0.77% | −0.31 |
| IBM Intl Business Machines Corp. | Reduce -12.0% | 1.51% | −0.26 |
| ON On Semiconductor | Reduce -25.9% | 0.31% | −0.18 |
| GM General Motors Co. | Sold out | 0.00% | −0.18 |
| SLB SLB Ltd. | Sold out | 0.00% | −0.17 |
| AMD Advanced Micro Devices | Sold out | 0.00% | −0.17 |
| MU Micron Technology Inc. | Reduce -6.0% | 0.48% | −0.17 |
| SYM Symbotic Inc. | Reduce -46.0% | 0.17% | −0.16 |
| CALY Callaway Golf Company | Sold out | 0.00% | −0.16 |
| GNRC Generac Holdings Inc. | Reduce -3.3% | 1.68% | −0.15 |
| COST Costco Wholesale Corp. | Reduce -12.7% | 1.03% | −0.14 |
| JNJ Johnson & Johnson | Reduce -3.7% | 0.71% | −0.14 |
| PFE Pfizer Inc. | Reduce -40.9% | 0.14% | −0.13 |
| UAL United Airlines Holdings Inc. | Sold out | 0.00% | −0.12 |
| NCLH Norwegian Cruise Line Holdin | Reduce -38.1% | 0.37% | −0.12 |
| VZ Verizon Communications Inc. | Reduce -7.8% | 0.48% | −0.12 |
| DKNG Draftkings Inc. Class A | Reduce -1.9% | 1.16% | −0.12 |
| ULTA Ulta Beauty Inc. | Sold out | 0.00% | −0.10 |
| TSLA Tesla Inc. | Sold out | 0.00% | −0.10 |
| HP Helmerich & Payne | Sold out | 0.00% | −0.09 |
| META Meta Platforms Inc. Class A | Reduce -4.2% | 1.81% | −0.08 |
| TMHC Taylor Morrison Home Corp. | Sold out | 0.00% | −0.08 |
| CART Maplebear Inc. | Reduce -36.9% | 0.13% | −0.08 |
| UPS United Parcel Service Class B | Reduce -0.9% | 0.58% | −0.07 |
| BLDR Builders Firstsource Inc. | Reduce -3.9% | 0.14% | −0.06 |
| AEP American Electric Power | Reduce -0.2% | 0.44% | −0.06 |
| DELL Dell Technologies -C | Reduce -20.6% | 0.19% | −0.06 |
| KO The Coca-Cola Co. | Reduce -0.6% | 0.30% | −0.06 |
| ISRG Intuitive Surgical Inc. | Reduce -21.7% | 0.19% | −0.04 |
| XEL Xcel Energy Inc. | Reduce -6.1% | 0.72% | −0.04 |
| SPG Simon Property Group Inc. | Reduce -13.9% | 0.22% | −0.04 |
| CMA Comerica Inc. | Reduce -24.0% | 0.12% | −0.04 |
| ABNB Airbnb Inc. Class A | Reduce -7.8% | 0.44% | −0.03 |
| ENLC Enlink Midstream LLC | Reduce -2.2% | 0.43% | −0.03 |
| LUV Southwest Airlines Co. | Reduce -19.9% | 0.18% | −0.02 |
| PG The Procter & Gamble Co. | Reduce -6.7% | 0.14% | −0.02 |
| URI United Rentals Inc. | Reduce -1.5% | 0.09% | −0.02 |
| ATO Atmos Energy Corp. | Reduce -2.0% | 0.27% | −0.01 |
| CVX Chevron Corp. | Reduce -1.1% | 0.17% | −0.01 |
| DRI Darden Restaurants Inc. | Reduce -17.2% | 0.09% | −0.01 |
| FOUR SHIFT4 Payments Inc. Class A | Reduce -14.8% | 0.23% | −0.01 |
| MS Morgan Stanley | Reduce -14.4% | 0.26% | +0.00 |
| ONON On Holding AG Class A | Reduce -4.4% | 0.28% | +0.01 |
| AVGO Broadcom Inc. | Reduce -13.2% | 0.20% | +0.02 |
| GOOGL Alphabet Inc. Class A | Reduce -2.9% | 0.38% | +0.03 |
Portfolio Buys Q3 2024 → Q4 2024
| AMZN Amazon.com Inc. | Add +24.3% | 3.14% | +0.94 |
| NVDA Nvidia Corp. | Add +0.9% | 11.45% | +0.93 |
| SN Sharkninja Inc. | Add +1078.5% | 0.92% | +0.83 |
| AAPL Apple Inc. | Add +0.0% | 7.29% | +0.33 |
| WFC Wells Fargo & Co. | Add +116.9% | 0.47% | +0.29 |
| HD Home Depot Inc. | Add +29.9% | 1.56% | +0.28 |
| ET Energy Transfer LP | Add +1.5% | 1.43% | +0.25 |
| MTZ Mastec Inc. | Add +102.7% | 0.42% | +0.23 |
| EXE Expand Energy Corp. | Add +7.5% | 1.08% | +0.23 |
| WHR Whirlpool Corp. | Add +99.4% | 0.38% | +0.20 |
| OKE Oneok Inc. | Add +0.3% | 2.59% | +0.19 |
| GOOG Alphabet Inc. Class C | Add +55.1% | 0.42% | +0.17 |
| HPE Hewlett Packard Enterprise | Add +119.6% | 0.27% | +0.15 |
| CROX Crocs Inc. | New | 0.13% | +0.13 |
| CMC Commercial Metals Co. | Add +41.5% | 0.61% | +0.12 |
| BANC Banc of California Inc. | Add +25.8% | 0.49% | +0.11 |
| PLTR Palantir Technologies Inc. Class A | New | 0.10% | +0.10 |
| WMT Walmart Inc. | Add +0.4% | 1.09% | +0.10 |
| TFC Truist Financial Corp. | New | 0.09% | +0.09 |
| SCHW Schwab (charles) Corp. | Add +1.9% | 0.57% | +0.07 |
| PR Permian Resources Corp. Class A | Add +23.3% | 0.31% | +0.07 |
| LIF LIFE360 Inc. | Add +50.4% | 0.18% | +0.06 |
| DVN Devon Energy Corp. | Add +31.9% | 0.70% | +0.05 |
| PTLO Portillo's Inc. Class A | Add +94.4% | 0.17% | +0.04 |
| C Citigroup Inc. | Add +5.2% | 0.29% | +0.04 |
| CFR Cullen/Frost Bankers Inc. | Add +2.5% | 0.22% | +0.04 |
| SNBRQ Sleep Number Corp. | Add +40.7% | 0.26% | +0.03 |
| T AT&T Inc. | Add +2.8% | 0.83% | +0.03 |
| MTDR Matador Resources Co. | Add +0.0% | 0.26% | +0.03 |
| YOU Clear Secure Inc. Class A | Add +43.4% | 0.12% | +0.01 |
| CSWC Capital Southwest Corp. | Add +18.8% | 0.60% | −0.00 |
| FANG Diamondback Energy Inc. | Add +0.2% | 0.19% | −0.02 |
| TXN Texas Instruments Inc. | Add +0.1% | 0.12% | −0.02 |
| HR Healthcare Realty Trust Inc. | Add +6.3% | 0.58% | −0.02 |
| MCD McDonald's Corp. | Add +1.8% | 0.34% | −0.02 |
| XRN Global Medical REIT Inc. | Add +13.7% | 0.16% | −0.03 |
| DUK Duke Energy Corp. | Add +1.5% | 0.44% | −0.04 |
| MMM 3M Co. | Add +0.0% | 0.44% | −0.04 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +17.4% | 0.20% | −0.04 |
| ABBV Abbvie Inc. | Add +3.6% | 1.32% | −0.13 |
| CAT Caterpillar Inc. | Add +0.2% | 1.46% | −0.15 |
| MSFT Microsoft Corp. | Add +0.1% | 3.50% | −0.16 |
| ETD Ethan Allen Interiors Inc. | Add +3.4% | 1.39% | −0.17 |
| LLY Eli Lilly & Co. | Add +2.6% | 1.26% | −0.19 |
| EXP Eagle Materials Inc. | Add +6.4% | 1.53% | −0.19 |
| WYNN WYNN Resorts Ltd. | Add +1.4% | 1.87% | −0.23 |
| FCX Freeport-McMoran Inc. | Add +0.6% | 1.75% | −0.59 |
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 |