First Dallas Securities Inc.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 27, 2026), First Dallas Securities Inc. reported 118 stock positions worth $270.3 million. Its top holding was Nvidia (NVDA) at 13.3% of the portfolio, followed by Texas Pacific Land (TPL, 10.5%) and Apple (AAPL, 6.3%). Compared with Q4 2025, it opened 16 new positions, sold out of 5, added to 36 and reduced 51. The biggest buy was Johnson & Johnson (JNJ, shares +44%) and the biggest sale Microsoft (MSFT, shares −35%).
- Most Recent 13F
- Q2 2026
- Location
- DALLAS, TX
- CIK
- 0001378559
- Portfolio Value
- $270.3M (Q1 2026)
- SEC Filing
- 0001378559-26-000004 ↗ filed Apr 27, 2026
Holdings Value
Holdings 118 stocks · $270.3M
| NVDA Nvidia Corp. | 13.33% | 206,615 | $36.0M | Add +0.9% |
| TPL Texas Pacific Land Corp. | 10.46% | 59,555 | $28.3M | Reduce -7.9% |
| AAPL Apple Inc. | 6.31% | 67,171 | $17.0M | Reduce -1.3% |
| AMZN Amazon.com Inc. | 3.06% | 39,696 | $8.3M | Reduce -0.8% |
| XOM Exxon Mobil Corp. | 2.79% | 44,390 | $7.5M | Reduce -4.8% |
| FCX Freeport-McMoran Inc. | 2.71% | 124,683 | $7.3M | Reduce -6.0% |
| OKE Oneok Inc. | 2.39% | 71,619 | $6.5M | Reduce -2.7% |
| BA The Boeing Co. | 2.39% | 32,437 | $6.5M | Add +2.4% |
| CAT Caterpillar Inc. | 2.27% | 8,652 | $6.1M | Reduce -10.7% |
| UBER Uber Technologies Inc. | 2.05% | 77,215 | $5.6M | Reduce -2.8% |
| LLY Eli Lilly & Co. | 1.83% | 5,392 | $5.0M | Reduce -6.3% |
| META Meta Platforms Inc. Class A | 1.72% | 8,133 | $4.7M | Reduce -4.0% |
| JNJ Johnson & Johnson | 1.50% | 16,567 | $4.0M | Add +44.1% |
| MSFT Microsoft Corp. | 1.46% | 10,672 | $4.0M | Reduce -34.6% |
| HD Home Depot Inc. | 1.46% | 11,989 | $3.9M | Add +6.9% |
| JPM JPMorgan Chase & Co. | 1.44% | 13,218 | $3.9M | Add +0.4% |
| SN Sharkninja Inc. | 1.39% | 35,460 | $3.8M | Reduce -11.3% |
| WMT Walmart Inc. | 1.28% | 27,926 | $3.5M | Reduce -1.1% |
| C Citigroup Inc. | 1.26% | 30,030 | $3.4M | Add +14.9% |
| EXE Expand Energy Corp. | 1.26% | 31,014 | $3.4M | Add +12.0% |
| RHP Ryman Hospitality Properties | 1.23% | 35,916 | $3.3M | Add +18.4% |
| EXP Eagle Materials Inc. | 1.15% | 16,449 | $3.1M | Add +4.8% |
| MRP Millrose Properties | 1.13% | 108,844 | $3.0M | Reduce -3.1% |
| WHR Whirlpool Corp. | 1.10% | 55,112 | $3.0M | Add +44.6% |
| UPS United Parcel Service Class B | 1.09% | 29,834 | $2.9M | Add +91.5% |
| MU Micron Technology Inc. | 0.99% | 7,945 | $2.7M | Reduce -38.3% |
| COST Costco Wholesale Corp. | 0.94% | 2,557 | $2.5M | Add +2.2% |
| TSM Taiwan Semiconductor-SP ADR | 0.91% | 7,276 | $2.5M | Reduce -20.3% |
| MTZ Mastec Inc. | 0.89% | 7,500 | $2.4M | Reduce -10.2% |
| WULF Terawulf Inc. | 0.82% | 153,750 | $2.2M | Reduce -14.6% |
| T AT&T Inc. | 0.81% | 75,505 | $2.2M | Reduce -0.8% |
| GOOG Alphabet Inc. Class C | 0.79% | 7,410 | $2.1M | Add +3.7% |
| DKNG Draftkings Inc. Class A | 0.77% | 96,490 | $2.1M | Reduce -13.4% |
| CLF Cleveland-Cliffs Inc. | 0.75% | 241,100 | $2.0M | Reduce -1.1% |
| CSWC Capital Southwest Corp. | 0.73% | 89,691 | $2.0M | Reduce -0.2% |
| XEL Xcel Energy Inc. | 0.68% | 23,240 | $1.8M | Reduce -2.1% |
| FWRG First Watch Restaurant Group | 0.65% | 166,750 | $1.7M | Add +327.6% |
| POWL Powell Industries Inc. | 0.63% | 3,151 | $1.7M | Reduce -7.3% |
| KEX Kirby Corp. | 0.63% | 12,815 | $1.7M | Reduce -51.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.62% | 34,283 | $1.7M | Reduce -5.0% |
| WFC Wells Fargo & Co. | 0.59% | 19,989 | $1.6M | Add +1.0% |
| FVR Frontview REIT Inc. | 0.55% | 95,950 | $1.5M | Add +344.2% |
| AVGO Broadcom Inc. | 0.54% | 4,735 | $1.5M | Add +245.6% |
| AMGN Amgen Inc. | 0.54% | 4,153 | $1.5M | Add +2.5% |
| PR Permian Resources Corp. Class A | 0.54% | 67,950 | $1.4M | Reduce -8.9% |
| AEP American Electric Power | 0.53% | 10,969 | $1.4M | Add +0.4% |
| AMAT Applied Materials Inc. | 0.53% | 4,175 | $1.4M | New |
| CMC Commercial Metals Co. | 0.51% | 22,460 | $1.4M | Reduce -3.9% |
| AXP American Express Co. | 0.50% | 4,440 | $1.3M | Reduce -7.5% |
| ETD Ethan Allen Interiors Inc. | 0.49% | 59,525 | $1.3M | Add +35.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.48% | 5,330 | $1.3M | Add +6.4% |
| MRK Merck & Co. Inc. | 0.48% | 10,730 | $1.3M | Add +0.6% |
| VZ Verizon Communications Inc. | 0.46% | 24,815 | $1.2M | Add +1.8% |
| BANC Banc of California Inc. | 0.46% | 70,475 | $1.2M | Reduce -3.2% |
| CRS Carpenter Technology | 0.44% | 3,050 | $1.2M | No change |
| DUK Duke Energy Corp. | 0.43% | 8,827 | $1.2M | No change |
| GEO The Geo Group Inc. | 0.43% | 68,620 | $1.2M | Add +8.1% |
| FDX FedEx Corp. | 0.41% | 3,110 | $1.1M | Add +1.6% |
| NFLX Netflix Inc. | 0.41% | 11,438 | $1.1M | Add +143.4% |
| GS Goldman Sachs Group Inc. | 0.39% | 1,250 | $1.1M | No change |
| ACA Arcosa Inc. | 0.39% | 9,925 | $1.1M | New |
| PLTR Palantir Technologies Inc. Class A | 0.38% | 6,994 | $1.0M | Reduce -18.5% |
| SCHW Schwab (charles) Corp. | 0.34% | 9,849 | $926K | Reduce -9.6% |
| TSLA Tesla Inc. | 0.34% | 2,485 | $924K | Add +1.0% |
| VIK Viking Holdings Ltd. | 0.34% | 12,450 | $915K | New |
| ABBV Abbvie Inc. | 0.32% | 4,027 | $876K | Reduce -75.2% |
| MS Morgan Stanley | 0.31% | 5,062 | $833K | No change |
| MTN Vail Resorts Inc. | 0.31% | 6,450 | $828K | New |
| ATO Atmos Energy Corp. | 0.30% | 4,462 | $824K | Reduce -2.1% |
| KO The Coca-Cola Co. | 0.28% | 9,906 | $753K | Reduce -4.8% |
| BX Blackstone Inc. | 0.28% | 6,510 | $749K | Add +1.6% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.27% | 1 | $718K | No change |
| TFC Truist Financial Corp. | 0.25% | 14,659 | $674K | Add +1.5% |
| HR Healthcare Realty Trust Inc. | 0.24% | 38,405 | $653K | Add +15.0% |
| MTDR Matador Resources Co. | 0.24% | 10,268 | $649K | Add +10.9% |
| VST Vistra Corp. | 0.24% | 4,270 | $642K | Reduce -72.8% |
| MMM 3M Co. | 0.24% | 4,411 | $641K | Reduce -29.2% |
| RTX RTX Corp. | 0.24% | 3,309 | $638K | No change |
| ONON On Holding AG Class A filed as ON HLDG AG | 0.23% | 18,600 | $633K | Reduce -2.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.23% | 1,302 | $624K | No change |
| LUV Southwest Airlines Co. | 0.22% | 15,975 | $600K | Add +41.1% |
| HPE Hewlett Packard Enterprise | 0.22% | 24,926 | $593K | Reduce -37.4% |
| SPG Simon Property Group Inc. | 0.21% | 3,100 | $578K | No change |
| AEE Ameren Corporation | 0.21% | 5,216 | $573K | Add +0.0% |
| DELL Dell Technologies -C | 0.21% | 3,480 | $571K | Reduce -5.2% |
| SO The Southern Co. | 0.20% | 5,735 | $554K | Reduce -1.0% |
| GIL Gildan Activewear Inc. | 0.20% | 9,600 | $534K | New |
| HON Honeywell International Inc. | 0.20% | 2,350 | $531K | No change |
| CXW Corecivic Inc. | 0.19% | 27,500 | $520K | Reduce -15.4% |
| PANW Palo Alto Networks Inc. | 0.18% | 3,110 | $499K | Add +21.5% |
| CFR Cullen/Frost Bankers Inc. | 0.17% | 3,278 | $449K | No change |
| EAT Brinker International Inc. | 0.16% | 2,990 | $427K | Reduce -23.4% |
| RH RH | 0.15% | 2,850 | $398K | Add +6.5% |
| IPGP Ipg Photonics Corp. | 0.14% | 3,340 | $383K | New |
| MCD McDonald's Corp. | 0.14% | 1,185 | $368K | Reduce -1.3% |
| LMT Lockheed Martin Corp. | 0.13% | 575 | $348K | No change |
| VRT Vertiv Holdings Co. Class A | 0.12% | 1,340 | $336K | Reduce -73.8% |
| PEP Pepsico Inc. | 0.12% | 2,135 | $332K | Reduce -5.2% |
| YOU Clear Secure Inc. Class A | 0.12% | 6,650 | $322K | New |
| TXN Texas Instruments Inc. | 0.12% | 1,613 | $313K | Add +0.1% |
Portfolio Sells Q4 2025 → Q1 2026
| MSFT Microsoft Corp. | Reduce -34.6% | 1.46% | −1.48 |
| ABBV Abbvie Inc. | Reduce -75.2% | 0.32% | −1.06 |
| UNH Unitedhealth Group Inc. | Reduce -88.9% | 0.09% | −0.86 |
| VST Vistra Corp. | Reduce -72.8% | 0.24% | −0.71 |
| DKNG Draftkings Inc. Class A | Reduce -13.4% | 0.77% | −0.66 |
| AAPL Apple Inc. | Reduce -1.3% | 6.31% | −0.57 |
| LLY Eli Lilly & Co. | Reduce -6.3% | 1.83% | −0.47 |
| CLF Cleveland-Cliffs Inc. | Reduce -1.1% | 0.75% | −0.45 |
| KEX Kirby Corp. | Reduce -51.1% | 0.63% | −0.44 |
| AMZN Amazon.com Inc. | Reduce -0.8% | 3.06% | −0.38 |
| MU Micron Technology Inc. | Reduce -38.3% | 0.99% | −0.37 |
| UBER Uber Technologies Inc. | Reduce -2.8% | 2.05% | −0.36 |
| META Meta Platforms Inc. Class A | Reduce -4.0% | 1.72% | −0.36 |
| SN Sharkninja Inc. | Reduce -11.3% | 1.39% | −0.27 |
| V Visa Inc. Class A | Sold out | 0.00% | −0.24 |
| GENI Genius Sports Ltd. | Reduce -36.5% | 0.07% | −0.21 |
| PLTR Palantir Technologies Inc. Class A | Reduce -18.5% | 0.38% | −0.19 |
| VRT Vertiv Holdings Co. Class A | Reduce -73.8% | 0.12% | −0.18 |
| TTWO Take-Two Interactive Softwre | Sold out | 0.00% | −0.17 |
| AXP American Express Co. | Reduce -7.5% | 0.50% | −0.16 |
| GM General Motors Co. | Sold out | 0.00% | −0.15 |
| HPE Hewlett Packard Enterprise | Reduce -37.4% | 0.22% | −0.14 |
| MMM 3M Co. | Reduce -29.2% | 0.24% | −0.13 |
| AIOT Powerfleet Inc. | Reduce -49.2% | 0.05% | −0.13 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -20.3% | 0.91% | −0.12 |
| MRP Millrose Properties | Reduce -3.1% | 1.13% | −0.12 |
| BAC Bank of America Corp. | Reduce -5.0% | 0.62% | −0.12 |
| ONON On Holding AG Class A | Reduce -2.6% | 0.23% | −0.10 |
| CMC Commercial Metals Co. | Reduce -3.9% | 0.51% | −0.09 |
| CRK Comstock Resources Inc. | Sold out | 0.00% | −0.09 |
| DECK Deckers Outdoor Corp. | Sold out | 0.00% | −0.08 |
| BANC Banc of California Inc. | Reduce -3.2% | 0.46% | −0.06 |
| SCHW Schwab (charles) Corp. | Reduce -9.6% | 0.34% | −0.06 |
| EAT Brinker International Inc. | Reduce -23.4% | 0.16% | −0.05 |
| CXW Corecivic Inc. | Reduce -15.4% | 0.19% | −0.04 |
| CSWC Capital Southwest Corp. | Reduce -0.2% | 0.73% | −0.01 |
| MCD McDonald's Corp. | Reduce -1.3% | 0.14% | −0.00 |
| PEP Pepsico Inc. | Reduce -5.2% | 0.12% | +0.00 |
| CVX Chevron Corp. | Reduce -22.4% | 0.10% | +0.00 |
| ETN Eaton Corp. PLC | Reduce -3.9% | 0.10% | +0.01 |
| KO The Coca-Cola Co. | Reduce -4.8% | 0.28% | +0.01 |
| SO The Southern Co. | Reduce -1.0% | 0.20% | +0.02 |
| ATO Atmos Energy Corp. | Reduce -2.1% | 0.30% | +0.02 |
| XEL Xcel Energy Inc. | Reduce -2.1% | 0.68% | +0.03 |
| DELL Dell Technologies -C | Reduce -5.2% | 0.21% | +0.04 |
| WULF Terawulf Inc. | Reduce -14.6% | 0.82% | +0.05 |
| T AT&T Inc. | Reduce -0.8% | 0.81% | +0.11 |
| WMT Walmart Inc. | Reduce -1.1% | 1.28% | +0.11 |
| PR Permian Resources Corp. Class A | Reduce -8.9% | 0.54% | +0.15 |
| CAT Caterpillar Inc. | Reduce -10.7% | 2.27% | +0.20 |
Portfolio Buys Q4 2025 → Q1 2026
| JNJ Johnson & Johnson | Add +44.1% | 1.50% | +0.61 |
| AMAT Applied Materials Inc. | New | 0.53% | +0.53 |
| UPS United Parcel Service Class B | Add +91.5% | 1.09% | +0.51 |
| FVR Frontview REIT Inc. | Add +344.2% | 0.55% | +0.43 |
| FWRG First Watch Restaurant Group | Add +327.6% | 0.65% | +0.43 |
| ACA Arcosa Inc. | New | 0.39% | +0.39 |
| AVGO Broadcom Inc. | Add +245.6% | 0.54% | +0.37 |
| VIK Viking Holdings Ltd. | New | 0.34% | +0.34 |
| MTN Vail Resorts Inc. | New | 0.31% | +0.31 |
| NFLX Netflix Inc. | Add +143.4% | 0.41% | +0.24 |
| GIL Gildan Activewear Inc. | New | 0.20% | +0.20 |
| RHP Ryman Hospitality Properties | Add +18.4% | 1.23% | +0.16 |
| IPGP Ipg Photonics Corp. | New | 0.14% | +0.14 |
| COST Costco Wholesale Corp. | Add +2.2% | 0.94% | +0.14 |
| C Citigroup Inc. | Add +14.9% | 1.26% | +0.12 |
| EXE Expand Energy Corp. | Add +12.0% | 1.26% | +0.12 |
| YOU Clear Secure Inc. Class A | New | 0.12% | +0.12 |
| ETD Ethan Allen Interiors Inc. | Add +35.1% | 0.49% | +0.12 |
| CRCL Circle Internet Group Inc. | New | 0.11% | +0.11 |
| NVGS Navigator Holdings Ltd. | New | 0.10% | +0.10 |
| MTDR Matador Resources Co. | Add +10.9% | 0.24% | +0.09 |
| VZ Verizon Communications Inc. | Add +1.8% | 0.46% | +0.09 |
| TWLO Twilio Inc. Class A | New | 0.08% | +0.08 |
| OUT Outfront Media Inc. | New | 0.08% | +0.08 |
| GNRC Generac Holdings Inc. | New | 0.08% | +0.08 |
| ONDS Ondas Inc. | New | 0.08% | +0.08 |
| FDX FedEx Corp. | Add +1.6% | 0.41% | +0.08 |
| ISRG Intuitive Surgical Inc. | New | 0.08% | +0.08 |
| WHR Whirlpool Corp. | Add +44.6% | 1.10% | +0.08 |
| AEP American Electric Power | Add +0.4% | 0.53% | +0.06 |
| MRK Merck & Co. Inc. | Add +0.6% | 0.48% | +0.06 |
| LUV Southwest Airlines Co. | Add +41.1% | 0.22% | +0.05 |
| AMGN Amgen Inc. | Add +2.5% | 0.54% | +0.05 |
| GEO The Geo Group Inc. | Add +8.1% | 0.43% | +0.05 |
| HR Healthcare Realty Trust Inc. | Add +15.0% | 0.24% | +0.03 |
| HD Home Depot Inc. | Add +6.9% | 1.46% | +0.02 |
| AEE Ameren Corporation | Add +0.0% | 0.21% | +0.02 |
| SOPH Sophia Genetics SA | New | 0.02% | +0.02 |
| SFIX Stitch Fix Inc. Class A | New | 0.01% | +0.01 |
| TXN Texas Instruments Inc. | Add +0.1% | 0.12% | +0.01 |
| PANW Palo Alto Networks Inc. | Add +21.5% | 0.18% | +0.01 |
| TFC Truist Financial Corp. | Add +1.5% | 0.25% | −0.02 |
| RH RH | Add +6.5% | 0.15% | −0.03 |
| GOOG Alphabet Inc. Class C | Add +3.7% | 0.79% | −0.05 |
| EXP Eagle Materials Inc. | Add +4.8% | 1.15% | −0.05 |
| TSLA Tesla Inc. | Add +1.0% | 0.34% | −0.07 |
| IBM Intl Business Machines Corp. | Add +6.4% | 0.48% | −0.07 |
| BX Blackstone Inc. | Add +1.6% | 0.28% | −0.09 |
| WFC Wells Fargo & Co. | Add +1.0% | 0.59% | −0.10 |
| JPM JPMorgan Chase & Co. | Add +0.4% | 1.44% | −0.14 |
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 |