GFS Advisors, LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 6, 2025), GFS Advisors, LLC reported 147 stock positions worth $783.7 million. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 4.2% of the portfolio, followed by Walt Disney (DIS, 4.2%) and Alphabet Class A (GOOGL, 4.1%). Compared with Q2 2025, it opened 4 new positions, sold out of 3, added to 34 and reduced 60. The biggest buy was Unitedhealth (UNH, shares +186%) and the biggest sale Nu Holdings Ltd./Cayman Isl-A (NU, shares −42%).

Most Recent 13F
Q2 2026
Location
HOUSTON, TX
CIK
0001427263
Portfolio Value
$783.7M (Q3 2025)
SEC Filing
0001427263-25-000009 ↗ filed Nov 6, 2025

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q1 2024: $603.6M Q1 2024 Q2 2024: $620.5M Q2 2024 Q3 2024: $470.4M Q3 2024 Q4 2024: $657.6M Q4 2024 Q1 2025: $498.1M Q1 2025 Q2 2025: $730.8M Q2 2025 Q3 2025: $783.7M $783.7M Q3 2025 Q4 2025: $842.0M Q4 2025 Q1 2026: $1.5B Q1 2026 Q2 2026: $937.5M Q2 2026

Holdings 147 stocks · $783.7M
SPY SS SPDR S&P 500 ETF Trust-US 4.20% 49,354 $32.9M Reduce -6.5%
DIS The Walt Disney Co. filed as DISNEY WALT CO 4.16% 284,488 $32.6M Add +3.9%
GOOGL Alphabet Inc. Class A 4.06% 130,955 $31.8M Reduce -6.3%
BABA Alibaba Group Holding-SP ADR 3.91% 171,462 $30.6M Reduce -0.3%
MSFT Microsoft Corp. 3.83% 57,964 $30.0M Reduce -3.3%
TSLA Tesla Inc. 3.71% 65,319 $29.0M Reduce -0.4%
ACWI iShares MSCI Acwi ETF 3.49% 197,870 $27.4M Reduce -2.1%
VWO Vanguard Ftse Emerging Marke 3.45% 498,820 $27.0M Reduce -0.9%
FDX FedEx Corp. 2.97% 98,725 $23.3M Reduce -0.2%
EWJ iShares MSCI Japan ETF 2.89% 282,200 $22.6M Reduce -1.4%
IJR iShares Core S&P Small-Cap E 2.32% 152,833 $18.2M Add +2.2%
RSP Invesco S&P 500 Equal Weight 2.10% 86,784 $16.5M Reduce -6.0%
VTI VG Morningstar TS MKT ETF-US 2.08% 49,725 $16.3M Reduce -0.5%
SHV iShares 0-1 Year Treasury Bo 2.01% 142,868 $15.8M Reduce -4.2%
IVV iShares Core S&P 500 ETF 1.86% 21,767 $14.6M Reduce -3.2%
UNH Unitedhealth Group Inc. 1.83% 41,432 $14.3M Add +185.7%
IJH iShares Core S&P Midcap ETF 1.64% 197,059 $12.9M Add +3.4%
VGK Vanguard Ftse Europe ETF 1.56% 153,701 $12.3M Add +19.4%
NVDA Nvidia Corp. 1.53% 64,166 $12.0M Reduce -8.1%
MRK Merck & Co. Inc. 1.41% 131,817 $11.1M Add +0.0%
PEP Pepsico Inc. 1.38% 77,025 $10.8M Reduce -11.4%
WMT Walmart Inc. 1.34% 101,857 $10.5M Reduce -20.6%
PFE Pfizer Inc. 1.34% 411,531 $10.5M Reduce -13.4%
CVX Chevron Corp. 1.33% 67,129 $10.4M Add +1.5%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 1.28% 628,205 $10.1M Reduce -42.3%
AAXJ iShares MSCI All Country Asi 1.27% 109,145 $10.0M No change
JNJ Johnson & Johnson 1.27% 53,496 $9.9M Add +0.3%
FEZ State Street SPDR Euro Stoxx 1.24% 155,962 $9.7M Add +0.1%
VO Vngrd Mrngstr MD-Cap ETF-Usd 1.23% 32,945 $9.7M No change
IAU iShares Gold Trust 1.20% 129,559 $9.4M Reduce -1.6%
MDY State Street SPDR S&P Midcap 1.20% 15,808 $9.4M Reduce -0.2%
BXMT Blackstone Mortgage Tru Class A 1.20% 509,755 $9.4M No change
JPM JPMorgan Chase & Co. 1.16% 28,888 $9.1M Reduce -33.6%
NKE Nike Inc. Class B 1.13% 127,022 $8.9M Reduce -23.5%
GOOG Alphabet Inc. Class C 1.10% 35,400 $8.6M Reduce -6.9%
INTC Intel Corp. 1.04% 241,810 $8.1M Reduce -16.9%
VXUS Vanguard Total Intl Stock 1.03% 110,219 $8.1M Reduce -5.6%
UL Unilever PLC 1.02% 134,665 $8.0M No change
META Meta Platforms Inc. Class A 0.93% 9,945 $7.3M Reduce -15.0%
ADBE Adobe Inc. 0.89% 19,719 $7.0M Add +43.3%
VUG Vanguard Mrngstar GR ETF-Sui 0.80% 13,091 $6.3M Reduce -0.6%
BBVA Banco Bilbao Vizcaya-SP ADR 0.78% 317,500 $6.1M Reduce -1.2%
NAD Nuveen Quality Municipal Inc. 0.77% 515,220 $6.0M Add +22.7%
TV Grupo Televisa SA-Spon ADR 0.74% 2,142,590 $5.8M No change
VEU Vanguard Ftse All-World Ex-U 0.69% 76,090 $5.4M Reduce -3.5%
PLTR Palantir Technologies Inc. Class A 0.69% 29,546 $5.4M Reduce -0.0%
VB Vanguard Most SM-Cap ETF-Usd 0.69% 21,175 $5.4M No change
PG The Procter & Gamble Co. 0.64% 32,621 $5.0M Add +0.0%
XOM Exxon Mobil Corp. 0.64% 44,247 $5.0M No change
MUB iShares National Muni Bond E 0.56% 41,000 $4.4M Reduce -12.2%
VSS Vanguard Ftse All Wo X-US SC 0.52% 28,680 $4.1M Reduce -7.1%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.49% 8,363 $3.9M Reduce -0.5%
VTV Vanguard Mrngstr Val ETF-Aui 0.49% 20,445 $3.8M Reduce -0.7%
KHC The Kraft Heinz Co. 0.46% 137,125 $3.6M No change
XLE SS Energy Select Sector 0.36% 31,280 $2.8M No change
XLF SS Financial Select Sector 0.35% 50,721 $2.7M Reduce -4.0%
IWD iShares Russell 1000 Value E 0.33% 12,792 $2.6M Reduce -0.9%
GLD SPDR Gold Shares 0.32% 7,162 $2.5M Add +0.4%
IBIT iShares Bitcoin Trust ETF 0.30% 35,966 $2.3M Add +4.7%
C Citigroup Inc. 0.30% 22,945 $2.3M Reduce -17.9%
GDX Vaneck Gold Miners ETF 0.30% 30,292 $2.3M Reduce -17.3%
WM Waste Management Inc. 0.29% 10,450 $2.3M No change
SHEL Shell PLC-ADR 0.29% 32,177 $2.3M No change
DEM Wisdomtree Emerging Markets 0.28% 47,305 $2.2M Reduce -1.4%
CPNG Coupang Inc. 0.27% 65,235 $2.1M Reduce -7.5%
ESGU iShares ESG Aware MSCI USA 0.26% 13,995 $2.0M No change
SLV iShares Silver Trust 0.25% 46,558 $2.0M Reduce -6.9%
KREF KKR Real Estate Finance Trus 0.25% 216,170 $1.9M Add +1.6%
STWD Starwood Property Trust Inc. 0.24% 97,815 $1.9M No change
ET Energy Transfer LP 0.24% 109,230 $1.9M Add +56.0%
BXSL Blackstone Secured Lending F 0.23% 69,700 $1.8M No change
V Visa Inc. Class A 0.22% 5,094 $1.7M No change
XBI SS SPDR S&P Biotech ETF 0.22% 17,172 $1.7M Add +6.7%
BIZD Vaneck BDC Income ETF 0.22% 113,300 $1.7M Add +45.6%
EPD Enterprise Products Partners 0.21% 52,500 $1.6M No change
CSCO Cisco Systems Inc. 0.21% 23,930 $1.6M Add +0.0%
CRM Salesforce Inc. 0.21% 6,818 $1.6M Add +448.1%
VXF Vanguard Extended Market ETF 0.20% 7,622 $1.6M Reduce -0.9%
SONO Sonos Inc. 0.20% 100,000 $1.6M No change
TM Toyota Motor Corp. -Spon ADR 0.20% 8,185 $1.6M Add +6.6%
BOTZ Global X Robotics & Artifici 0.20% 43,855 $1.6M Add +2.1%
PANW Palo Alto Networks Inc. 0.19% 7,125 $1.5M Add +5.5%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.18% 6,764 $1.4M Reduce -0.9%
IJS iShares S&P Small-Cap 600 Va 0.18% 12,672 $1.4M Reduce -0.8%
QCOM Qualcomm Inc. 0.17% 7,820 $1.3M Reduce -0.1%
MMM 3M Co. 0.16% 8,300 $1.3M No change
OBDC Blue Owl Capital Corp. 0.16% 98,785 $1.3M No change
BUD Anheuser-Busch Inbev-SPN ADR 0.15% 20,305 $1.2M No change
EFA iShares MSCI Eafe ETF 0.15% 12,869 $1.2M Add +4.5%
F Ford Motor Co. filed as FORD MTR CO 0.15% 100,000 $1.2M No change
CX Cemex Sab-Spons ADR Part Cer 0.15% 127,076 $1.1M Reduce -23.6%
IWP iShares Russell Mid-Cap Grow 0.15% 8,000 $1.1M No change
VPL Vanguard Ftse Pacific ETF 0.14% 12,627 $1.1M Reduce -1.2%
SBUX Starbucks Corp. 0.13% 12,255 $1.0M No change
SCZ iShares MSCI Eafe Small-Cap 0.13% 13,143 $1.0M Reduce -1.0%
SLYV SS SPDR S&P 600 SC Val ETF 0.13% 11,105 $984K Reduce -0.9%
EFV iShares MSCI Eafe Value ETF 0.12% 13,831 $938K Reduce -1.1%
COST Costco Wholesale Corp. 0.11% 948 $877K Add +12.1%
VOO Vanguard S&P 500 ETF 0.11% 1,360 $833K No change
USFR Wisdomtree Floating Rate Tre 0.10% 15,240 $766K No change

Show all 147 holdings

Portfolio Sells Q2 2025 → Q3 2025
NU Nu Holdings Ltd./Cayman Isl-A Reduce -42.3% 1.28% −0.76
JPM JPMorgan Chase & Co. Reduce -33.6% 1.16% −0.56
NKE Nike Inc. Class B Reduce -23.5% 1.13% −0.48
WMT Walmart Inc. Reduce -20.6% 1.34% −0.38
JEPI JPMorgan Equity Premium Inco Sold out 0.00% −0.36
SPY SS SPDR S&P 500 ETF Trust-US Reduce -6.5% 4.20% −0.27
META Meta Platforms Inc. Class A Reduce -15.0% 0.93% −0.25
MSFT Microsoft Corp. Reduce -3.3% 3.83% −0.25
PFE Pfizer Inc. Reduce -13.4% 1.34% −0.24
SHV iShares 0-1 Year Treasury Bo Reduce -4.2% 2.01% −0.24
RSP Invesco S&P 500 Equal Weight Reduce -6.0% 2.10% −0.19
PEP Pepsico Inc. Reduce -11.4% 1.38% −0.19
MUB iShares National Muni Bond E Reduce -12.2% 0.56% −0.11
FDX FedEx Corp. Reduce -0.2% 2.97% −0.11
DHR Danaher Corp. Sold out 0.00% −0.09
VXUS Vanguard Total Intl Stock Reduce -5.6% 1.03% −0.07
ACWI iShares MSCI Acwi ETF Reduce -2.1% 3.49% −0.07
IVV iShares Core S&P 500 ETF Reduce -3.2% 1.86% −0.05
EWJ iShares MSCI Japan ETF Reduce -1.4% 2.89% −0.05
VSS Vanguard Ftse All Wo X-US SC Reduce -7.1% 0.52% −0.05
UBER Uber Technologies Inc. Reduce -28.1% 0.08% −0.03
LLY Eli Lilly & Co. Reduce -29.6% 0.06% −0.03
VEU Vanguard Ftse All-World Ex-U Reduce -3.5% 0.69% −0.03
SHY iShares 1-3 Year Treasury Bo Sold out 0.00% −0.03
XLF SS Financial Select Sector Reduce -4.0% 0.35% −0.03
C Citigroup Inc. Reduce -17.9% 0.30% −0.03
DXJ Wisdomtree Japan Hedged Eq Reduce -27.5% 0.08% −0.03
MDY State Street SPDR S&P Midcap Reduce -0.2% 1.20% −0.03
NFLX Netflix Inc. Reduce -6.1% 0.08% −0.02
CPNG Coupang Inc. Reduce -7.5% 0.27% −0.02
MELI MercadoLibre Inc. Reduce -8.5% 0.06% −0.02
DEM Wisdomtree Emerging Markets Reduce -1.4% 0.28% −0.02
CX Cemex Sab-Spons ADR Part Cer Reduce -23.6% 0.15% −0.01
DIA SS SPDR Dow Jones Indus Avg Reduce -0.5% 0.49% −0.01
VTV Vanguard Mrngstr Val ETF-Aui Reduce -0.7% 0.49% −0.01
IWD iShares Russell 1000 Value E Reduce -0.9% 0.33% −0.01
QCOM Qualcomm Inc. Reduce -0.1% 0.17% −0.00
SCZ iShares MSCI Eafe Small-Cap Reduce -1.0% 0.13% −0.00
VNQ Vanguard Real Estate ETF Reduce -0.4% 0.06% −0.00
VPL Vanguard Ftse Pacific ETF Reduce -1.2% 0.14% −0.00
VBR Vngrd Mrngst SL-CP Val ETF-U Reduce -0.9% 0.18% −0.00
EFV iShares MSCI Eafe Value ETF Reduce -1.1% 0.12% −0.00
GWX State Street SPDR S&P Intern Reduce -1.3% 0.06% −0.00
VXF Vanguard Extended Market ETF Reduce -0.9% 0.20% +0.00
IGE iShares North American Natur Reduce -1.3% 0.06% +0.00
AVGO Broadcom Inc. Reduce -7.8% 0.08% +0.00
SLYV SS SPDR S&P 600 SC Val ETF Reduce -0.9% 0.13% +0.00
IYW iShares Ustechnology ETF Reduce -0.3% 0.09% +0.00
VTI VG Morningstar TS MKT ETF-US Reduce -0.5% 2.08% +0.00
IJS iShares S&P Small-Cap 600 Va Reduce -0.8% 0.18% +0.00

Portfolio Buys Q2 2025 → Q3 2025
UNH Unitedhealth Group Inc. Add +185.7% 1.83% +1.21
VGK Vanguard Ftse Europe ETF Add +19.4% 1.56% +0.20
CRM Salesforce Inc. Add +448.1% 0.21% +0.16
ADBE Adobe Inc. Add +43.3% 0.89% +0.16
JNJ Johnson & Johnson Add +0.3% 1.27% +0.15
NAD Nuveen Quality Municipal Inc. Add +22.7% 0.77% +0.12
LMT Lockheed Martin Corp. New 0.08% +0.08
IJR iShares Core S&P Small-Cap E Add +2.2% 2.32% +0.08
ET Energy Transfer LP Add +56.0% 0.24% +0.07
STZ Constellation Brands Inc. Class A New 0.06% +0.06
TEVA Teva Pharmaceutical-SP ADR New 0.05% +0.05
BIZD Vaneck BDC Income ETF Add +45.6% 0.22% +0.04
XLG Invesco S&P 500 Top 50 ETF Add +101.0% 0.07% +0.04
XBI SS SPDR S&P Biotech ETF Add +6.7% 0.22% +0.04
CVX Chevron Corp. Add +1.5% 1.33% +0.03
PFF iShares Preferred & Income S New 0.03% +0.03
GLD SPDR Gold Shares Add +0.4% 0.32% +0.03
IJH iShares Core S&P Midcap ETF Add +3.4% 1.64% +0.02
TM Toyota Motor Corp. -Spon ADR Add +6.6% 0.20% +0.02
ORCL Oracle Corp. Add +5.6% 0.05% +0.01
IBIT iShares Bitcoin Trust ETF Add +4.7% 0.30% +0.01
TSM Taiwan Semiconductor-SP ADR Add +1.4% 0.07% +0.01
MTBA Simplify MBS ETF Add +29.0% 0.04% +0.01
BOTZ Global X Robotics & Artifici Add +2.1% 0.20% +0.01
GS Goldman Sachs Group Inc. Add +1.2% 0.06% +0.00
EFA iShares MSCI Eafe ETF Add +4.5% 0.15% +0.00
KRE SS SPDR S&P Regional Bank Add +3.8% 0.07% +0.00
DVY iShares Select Dividend ETF Add +0.9% 0.07% +0.00
IEV iShares Europe ETF Add +1.6% 0.03% −0.00
COST Costco Wholesale Corp. Add +12.1% 0.11% −0.00
PANW Palo Alto Networks Inc. Add +5.5% 0.19% −0.00
PCT Purecycle Technologies Inc. Add +2.6% 0.06% −0.01
KREF KKR Real Estate Finance Trus Add +1.6% 0.25% −0.01
MRK Merck & Co. Inc. Add +0.0% 1.41% −0.02
CSCO Cisco Systems Inc. Add +0.0% 0.21% −0.02
FEZ State Street SPDR Euro Stoxx Add +0.1% 1.24% −0.04
PG The Procter & Gamble Co. Add +0.0% 0.64% −0.07
DIS The Walt Disney Co. Add +3.9% 4.16% −0.49

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026Amended 265$937.5MCAH, HEI, SPYD, UPS, EFA
Q1 2026Amended 257$1.5BGOOGL, DIS, SHV, CRWD, IWD
Q4 2025 173$842.0MTSLA, GOOGL, SPY, DIS, MSFT
Q3 2025 147$783.7MSPY, DIS, GOOGL, BABA, MSFT
Q2 2025 146$730.8MDIS, SPY, MSFT, ACWI, VWO
Q1 2025 122$498.1MDIS, VWO, BABA, ACWI, EWJ
Q4 2024 152$657.6MDIS, SPY, FDX, GOOGL, TSLA
Q3 2024 111$470.4MDIS, GOOGL, VWO, MSFT, EWJ
Q2 2024 201$620.5MSPY, DIS, FDX, GOOGL, MSFT
Q1 2024 146$603.6MDIS, FDX, SPY, MSFT, GOOGL