Highlander Partners, L.P.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 3, 2026), Highlander Partners, L.P. reported 66 stock positions worth $278.7 million. Its top holding was Vertiv Class A (VRT) at 17.1% of the portfolio, followed by Blackstone (BX, 13.5%) and Amazon.com (AMZN, 8.5%). Compared with Q3 2025, it opened 19 new positions, sold out of 3, added to 2 and reduced 1. The biggest buy was Parsons (PSN, shares +68%) and the biggest sale an exit from Willscot (WSC).

Most Recent 13F
Q2 2026
Location
DALLAS, TX
CIK
0001903866
Portfolio Value
$278.7M (Q4 2025)
SEC Filing
0001754960-26-000143 ↗ filed Feb 3, 2026

Holdings Value

0$100.0M$200.0M$300.0M Q1 2024: $144.3M Q1 2024 Q2 2024: $150.3M Q2 2024 Q3 2024: $169.2M Q3 2024 Q4 2024: $176.1M Q4 2024 Q1 2025: $161.7M Q1 2025 Q2 2025: $260.3M Q2 2025 Q3 2025: $286.7M Q3 2025 Q4 2025: $278.7M $278.7M Q4 2025 Q1 2026: $255.5M Q1 2026 Q2 2026: $298.3M Q2 2026

Holdings 66 stocks · $278.7M
VRT Vertiv Holdings Co. Class A 17.07% 293,569 $47.6M Reduce -17.0%
BX Blackstone Inc. 13.50% 244,000 $37.6M No change
AMZN Amazon.com Inc. 8.53% 103,000 $23.8M No change
PSN Parsons Corp. 6.15% 277,300 $17.1M Add +68.3%
KEYS Keysight Technologies Inc. 5.77% 79,200 $16.1M No change
TCBI Texas Capital Bancshares Inc. 5.50% 169,436 $15.3M No change
DHR Danaher Corp. 4.76% 58,000 $13.3M Add +3.6%
YMM Full Truck Alliance -SPN ADR 4.73% 1,228,237 $13.2M No change
KRE SS SPDR S&P Regional Bank 4.65% 200,000 $13.0M No change
BABA Alibaba Group Holding-SP ADR 4.59% 87,200 $12.8M No change
SPXC SPX Technologies Inc. 3.75% 52,250 $10.5M No change
MIRM Mirum Pharmaceuticals Inc. 3.49% 122,980 $9.7M No change
HON Honeywell International Inc. 3.19% 45,500 $8.9M No change
DAKT Daktronics Inc. 2.84% 400,000 $7.9M No change
SSNC Ss&c Technologies Holdings 2.57% 81,800 $7.2M No change
DELL Dell Technologies -C 1.36% 30,000 $3.8M No change
SPY SS SPDR S&P 500 ETF Trust-US 0.98% 4,000 $2.7M No change
DSGR Distribution Solutions Group 0.84% 85,899 $2.4M New
RSP Invesco S&P 500 Equal Weight 0.68% 9,900 $1.9M No change
MDAI Spectral AI Inc. 0.46% 900,000 $1.3M No change
BRK.B Berkshire Hathaway Inc. Class B 0.28% 1,525 $767K No change
MPLX MPLX LP 0.27% 14,291 $763K No change
DMLP Dorchester Minerals LP 0.27% 33,077 $740K No change
GOOGL Alphabet Inc. Class A 0.25% 2,200 $689K No change
GHC Graham Holdings Co. Class B 0.21% 535 $588K No change
CWST Casella Waste Systems Inc. Class A 0.21% 6,000 $588K No change
WTM White Mountains Insurance GP 0.21% 280 $582K No change
MSFT Microsoft Corp. 0.18% 1,050 $508K No change
JPM JPMorgan Chase & Co. 0.17% 1,500 $483K No change
GLD SPDR Gold Shares 0.17% 1,160 $460K No change
EPD Enterprise Products Partners 0.16% 14,000 $449K No change
PM Philip Morris International 0.14% 2,500 $401K No change
META Meta Platforms Inc. Class A 0.13% 550 $363K No change
ADBE Adobe Inc. 0.13% 1,000 $350K No change
MRK Merck & Co. Inc. 0.12% 3,300 $347K No change
ACWI iShares MSCI Acwi ETF 0.12% 2,360 $334K No change
PAGP Plains GP Holdings LP 0.10% 15,000 $287K No change
ARCC Ares Capital Corp. 0.10% 14,000 $283K No change
ET Energy Transfer LP 0.10% 17,080 $282K No change
KRP Kimbell Royalty Partners LP 0.09% 22,000 $259K No change
PSX Phillips 66 0.09% 2,000 $258K No change
V Visa Inc. Class A 0.09% 700 $245K No change
WES Western Midstream Partners L 0.09% 6,100 $241K No change
XOM Exxon Mobil Corp. 0.09% 2,000 $241K No change
FXI iShares China Large-Cap ETF 0.08% 6,000 $230K No change
ORCL Oracle Corp. 0.08% 1,170 $228K No change
HD Home Depot Inc. 0.08% 625 $215K No change
RSG Republic Services Inc. 0.08% 1,000 $212K No change
SLB SLB Ltd. filed as SLB LIMITED 0.07% 5,040 $193K New
NOA North American Construction 0.05% 9,186 $132K New
L Loews Corp. 0.05% 1,225 $129K New
PPLI People Inc. filed as IAC INC 0.05% 3,230 $126K New
PG The Procter & Gamble Co. 0.04% 800 $115K New
SEB Seaboard Corp. 0.04% 24 $107K New
MHK Mohawk Industries Inc. 0.04% 900 $98K New
TAP Molson Coors Beverage Co. Class B 0.03% 1,755 $82K New
LBTYA Liberty Global Ltd. Class A 0.03% 6,700 $75K New
AMG Affiliated Managers Group 0.02% 235 $68K New
GLIBK Liberty Capital Corp. Class C filed as GCI LIBERTY INC 0.02% 1,703 $63K New
CNX CNX Resources Corp. 0.02% 1,525 $56K New
JOUT Johnson Outdoors Inc. Class A 0.02% 1,175 $50K New
IMKTA Ingles Markets Inc. Class A 0.02% 660 $45K New
POST Post Holdings Inc. filed as POST HLDGS INC 0.01% 335 $33K New
LBRDK Liberty Broadband-C 0.01% 534 $26K New
HTLD Heartland Express Inc. 0.01% 2,620 $24K New
CABO Cable One Inc. 0.01% 199 $22K New

Portfolio Sells Q3 2025 → Q4 2025
WSC Willscot Holdings Corp. Sold out 0.00% −1.84
VRT Vertiv Holdings Co. Class A Reduce -17.0% 17.07% −1.54
FISV Fiserv Inc. Sold out 0.00% −0.09
AMD Advanced Micro Devices Sold out 0.00% −0.08

Portfolio Buys Q3 2025 → Q4 2025
PSN Parsons Corp. Add +68.3% 6.15% +1.38
DHR Danaher Corp. Add +3.6% 4.76% +0.89
DSGR Distribution Solutions Group New 0.84% +0.84
SLB SLB Ltd. New 0.07% +0.07
NOA North American Construction New 0.05% +0.05
L Loews Corp. New 0.05% +0.05
PPLI People Inc. New 0.05% +0.05
PG The Procter & Gamble Co. New 0.04% +0.04
SEB Seaboard Corp. New 0.04% +0.04
MHK Mohawk Industries Inc. New 0.04% +0.04
TAP Molson Coors Beverage Co. Class B New 0.03% +0.03
LBTYA Liberty Global Ltd. Class A New 0.03% +0.03
AMG Affiliated Managers Group New 0.02% +0.02
GLIBK Liberty Capital Corp. Class C New 0.02% +0.02
CNX CNX Resources Corp. New 0.02% +0.02
JOUT Johnson Outdoors Inc. Class A New 0.02% +0.02
IMKTA Ingles Markets Inc. Class A New 0.02% +0.02
POST Post Holdings Inc. New 0.01% +0.01
LBRDK Liberty Broadband-C New 0.01% +0.01
HTLD Heartland Express Inc. New 0.01% +0.01
CABO Cable One Inc. New 0.01% +0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 44$298.3MVRT, BX, KEYS, SGI, AMZN
Q1 2026 45$255.5MVRT, BX, KEYS, AMZN, PSN
Q4 2025 66$278.7MVRT, BX, AMZN, PSN, KEYS
Q3 2025 50$286.7MVRT, BX, AMZN, YMM, BABA
Q2 2025 50$260.3MVRT, BX, AMZN, YMM, TCBI
Q1 2025 45$161.7MVRT, BX, AMZN, YMM, BABA
Q4 2024 39$176.1MVRT, BX, AMZN, YMM, TCBI
Q3 2024 42$169.2MVRT, BX, AMZN, YMM, WSC
Q2 2024 38$150.3MVRT, BX, AMZN, YMM, WSC
Q1 2024 41$144.3MVRT, BX, AMZN, YMM, WSC