Howard Financial Services, LTD.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 2, 2025), Howard Financial Services, LTD. reported 182 stock positions worth $760.6 million. Its top holding was iShares MSCI USA Quality Fac (QUAL) at 11.9% of the portfolio, followed by Schwab US DVD Equity ETF (SCHD, 7.1%) and Vanguard Dividend Apprec ETF (VIG, 5.0%). Compared with Q1 2025, it opened 19 new positions, sold out of 20, added to 63 and reduced 84. The biggest buy was a new position in Schwab US Large-Cap Growth (SCHG) and the biggest sale Schwab US DVD Equity ETF (SCHD, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- DALLAS, TX
- CIK
- 0001768130
- Portfolio Value
- $760.6M (Q2 2025)
- SEC Filing
- 0001768130-25-000004 ↗ filed Jul 2, 2025
Holdings Value
Holdings 182 stocks · $760.6M
| QUAL iShares MSCI USA Quality Fac | 11.94% | 496,946 | $90.9M | Add +2.5% |
| SCHD Schwab US DVD Equity ETF | 7.08% | 2,032,073 | $53.8M | Reduce -2.0% |
| VIG Vanguard Dividend Apprec ETF | 4.97% | 184,727 | $37.8M | Reduce -0.6% |
| SPGP Invesco S&P 500 Garp ETF | 4.90% | 346,178 | $37.3M | Reduce -2.3% |
| RSP Invesco S&P 500 Equal Weight | 4.75% | 198,745 | $36.1M | Reduce -0.4% |
| GTO Invesco Total Return Bond Et | 4.39% | 711,727 | $33.4M | Reduce -0.4% |
| HTRB Hartford TTL RTRN BND ETF | 3.94% | 885,861 | $30.0M | Add +2.0% |
| DGRW Wisdomtree U.S. Quality Divi | 3.68% | 334,379 | $28.0M | Add +11.5% |
| PTRB Pgim Total Return Bond ETF | 3.66% | 664,849 | $27.8M | Reduce -0.7% |
| AAPL Apple Inc. | 3.57% | 132,520 | $27.2M | Reduce -1.8% |
| SJNK SS SPDR BB St Hi Yield ETF | 2.82% | 842,349 | $21.5M | Add +4.8% |
| TOTL SS Doubleline TR Tact ETF | 2.78% | 526,422 | $21.1M | Add +2.3% |
| IQLT iShares MSCI International Q | 2.51% | 441,385 | $19.1M | Add +0.1% |
| ANGL Vaneck Fallen Angel High YLD | 2.13% | 552,880 | $16.2M | Add +6.4% |
| VIGI Vanguard Int Div App Indx FD | 2.02% | 170,741 | $15.4M | Add +1.0% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 1.98% | 376,251 | $15.1M | Reduce -1.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.94% | 23,850 | $14.7M | Add +3.1% |
| RDVY First Trust Rising Dividend | 1.75% | 212,224 | $13.3M | Add +3.6% |
| NVDA Nvidia Corp. | 1.62% | 77,993 | $12.3M | Reduce -3.7% |
| CALF PCR US SM CP CSH CWS ETF-Usd | 1.51% | 289,065 | $11.5M | Reduce -24.8% |
| XSOE Wisdmtree Emerg MKT Ex-St Ow | 1.38% | 304,366 | $10.5M | Reduce -4.4% |
| MSFT Microsoft Corp. | 1.38% | 21,050 | $10.5M | Reduce -13.9% |
| QQQ Invesco QQQ Trust Series 1 | 1.26% | 17,395 | $9.6M | Add +0.2% |
| SCHG Schwab US Large-Cap Growth | 1.11% | 289,897 | $8.5M | New |
| MOAT Vaneck Morningstar Wide Moat | 1.06% | 86,295 | $8.1M | Reduce -4.4% |
| FPE FT-Preferred Secur & Inc. ETF | 0.93% | 397,326 | $7.1M | Reduce -14.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.89% | 14,004 | $6.8M | Add +1.1% |
| AMZN Amazon.com Inc. | 0.78% | 27,116 | $5.9M | Reduce -7.0% |
| FIXD First Trust Smith Opportunis | 0.74% | 129,043 | $5.7M | Reduce -33.8% |
| CMG Chipotle Mexican Grill Inc. | 0.69% | 93,500 | $5.3M | Reduce -0.6% |
| SBR Sabine Royalty Trust | 0.59% | 67,814 | $4.5M | Reduce -12.4% |
| IVV iShares Core S&P 500 ETF | 0.53% | 6,520 | $4.0M | Reduce -10.0% |
| AVGO Broadcom Inc. | 0.51% | 14,204 | $3.9M | Add +0.1% |
| EPD Enterprise Products Partners | 0.47% | 115,985 | $3.6M | Add +23.9% |
| ET Energy Transfer LP | 0.45% | 188,309 | $3.4M | Add +3.4% |
| VTI VG Morningstar TS MKT ETF-US | 0.43% | 10,887 | $3.3M | No change |
| RODM Hartford Multifact Dev MRKT | 0.42% | 93,616 | $3.2M | Reduce -0.3% |
| JPST JPMorgan Ultra-Short Income | 0.42% | 62,870 | $3.2M | Reduce -19.5% |
| BSV Vanguard Short-Term Bond ETF | 0.41% | 39,498 | $3.1M | Reduce -14.7% |
| SCHE Schwab Emrg Mrkts Eqty ETF | 0.33% | 82,254 | $2.5M | Reduce -1.6% |
| SCHF Schwab Intl Equity ETF | 0.29% | 100,163 | $2.2M | Reduce -3.8% |
| XOM Exxon Mobil Corp. | 0.28% | 19,796 | $2.1M | Add +0.2% |
| PEP Pepsico Inc. | 0.28% | 16,103 | $2.1M | Reduce -9.2% |
| PLTR Palantir Technologies Inc. Class A | 0.24% | 13,487 | $1.8M | Reduce -0.7% |
| TSLA Tesla Inc. | 0.24% | 5,757 | $1.8M | Reduce -0.9% |
| JPM JPMorgan Chase & Co. | 0.23% | 6,064 | $1.8M | Reduce -26.5% |
| MPLX MPLX LP | 0.23% | 33,676 | $1.7M | Add +3.7% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.22% | 18,326 | $1.7M | Add +22.9% |
| IEFA iShares Core MSCI Eafe ETF | 0.21% | 19,528 | $1.6M | Add +0.3% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.20% | 5,049 | $1.5M | Add +13.4% |
| SSB Southstate Bank Corp. | 0.20% | 16,149 | $1.5M | Reduce -1.1% |
| GOOGL Alphabet Inc. Class A | 0.19% | 8,383 | $1.5M | Reduce -31.9% |
| SCHW Schwab (charles) Corp. | 0.19% | 16,000 | $1.5M | Add +0.1% |
| TPL Texas Pacific Land Corp. | 0.19% | 1,350 | $1.4M | Reduce -0.1% |
| MA Mastercard Inc. Class A | 0.19% | 2,506 | $1.4M | Reduce -0.8% |
| NFLX Netflix Inc. | 0.18% | 1,018 | $1.4M | Reduce -4.6% |
| META Meta Platforms Inc. Class A | 0.17% | 1,783 | $1.3M | Reduce -9.5% |
| BSM Black Stone Minerals LP | 0.16% | 91,882 | $1.2M | Add +0.2% |
| JEPI JPMorgan Equity Premium Inco | 0.15% | 20,701 | $1.2M | Add +0.3% |
| TSM Taiwan Semiconductor-SP ADR | 0.15% | 5,023 | $1.1M | Reduce -8.4% |
| FNDA Schwab Fndmntl US SM Co. ETF | 0.14% | 36,751 | $1.1M | Add +0.1% |
| OKE Oneok Inc. | 0.14% | 12,742 | $1.0M | Reduce -1.9% |
| WMT Walmart Inc. | 0.13% | 9,751 | $953K | Reduce -13.4% |
| DMLP Dorchester Minerals LP | 0.13% | 34,191 | $953K | Add +0.0% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.12% | 1,862 | $948K | Add +2.8% |
| COST Costco Wholesale Corp. | 0.12% | 943 | $933K | Add +4.5% |
| SPDW Ste STR SPDR PT DW Eu ETF | 0.12% | 22,431 | $908K | Reduce -27.2% |
| PM Philip Morris International | 0.11% | 4,691 | $854K | Add +2.7% |
| JBI Janus International Group Inc. | 0.11% | 104,926 | $854K | Reduce -0.2% |
| TQQQ Proshares Ultrapro QQQ | 0.11% | 10,125 | $840K | Add +23.5% |
| CADE Cadence Bank | 0.11% | 25,502 | $816K | Add +0.9% |
| BKNG Booking Holdings Inc. | 0.11% | 139 | $805K | Add +3.7% |
| GHC Graham Holdings Co. Class B | 0.10% | 838 | $793K | Add +0.2% |
| GOOG Alphabet Inc. Class C | 0.10% | 4,424 | $785K | Reduce -8.3% |
| VNOM Viper Energy Inc. | 0.10% | 20,262 | $773K | No change |
| NLY Annaly Capital Management Inc. | 0.10% | 40,489 | $762K | Add +34.3% |
| LUV Southwest Airlines Co. | 0.10% | 22,537 | $731K | Reduce -0.5% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.10% | 1 | $729K | No change |
| GLD SPDR Gold Shares | 0.09% | 2,366 | $721K | Reduce -10.2% |
| IEMG iShares Core MSCI Emerging | 0.09% | 11,721 | $704K | Add +0.0% |
| JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F | 0.09% | 12,315 | $670K | Add +0.4% |
| FNGG Direxion Daily Nyse Fang+ Bu | 0.09% | 3,028 | $647K | No change |
| ESGU iShares ESG Aware MSCI USA | 0.08% | 4,745 | $642K | Add +0.3% |
| AGNC AGNC Investment Corp. | 0.08% | 69,038 | $634K | Add +23.8% |
| CSCO Cisco Systems Inc. | 0.08% | 8,968 | $622K | Reduce -11.3% |
| HD Home Depot Inc. | 0.08% | 1,693 | $621K | Add +2.7% |
| CVX Chevron Corp. | 0.08% | 4,334 | $621K | Reduce -12.0% |
| JNJ Johnson & Johnson | 0.08% | 3,874 | $592K | Reduce -16.7% |
| UBER Uber Technologies Inc. | 0.07% | 6,042 | $564K | Add +3.4% |
| MRK Merck & Co. Inc. | 0.07% | 7,112 | $563K | Add +8.6% |
| NOC Northrop Grumman Corp. | 0.07% | 1,110 | $555K | Reduce -38.4% |
| IJH iShares Core S&P Midcap ETF | 0.07% | 8,933 | $554K | Reduce -81.2% |
| SHY iShares 1-3 Year Treasury Bo | 0.07% | 6,647 | $551K | Reduce -2.7% |
| ABBV Abbvie Inc. | 0.07% | 2,965 | $550K | Add +4.2% |
| VOO Vanguard S&P 500 ETF | 0.07% | 947 | $538K | Reduce -14.8% |
| TXN Texas Instruments Inc. | 0.07% | 2,581 | $536K | Reduce -48.2% |
| KO The Coca-Cola Co. | 0.07% | 7,571 | $536K | Add +2.2% |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.07% | 10,098 | $533K | Add +157.9% |
| V Visa Inc. Class A | 0.07% | 1,469 | $522K | Reduce -20.5% |
| IVW iShares S&P 500 Growth ETF | 0.07% | 4,724 | $520K | Add +0.1% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $10K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| RWT HOLDINGS INC (RWT 5.75 10/01/25) | NOTE 5.750%10/0 · principal | 10,000 | $10K | New |
Total filed on the 13F, all lines: $760.7M.
Portfolio Sells Q1 2025 → Q2 2025
| SCHD Schwab US DVD Equity ETF | Reduce -2.0% | 7.08% | −0.81 |
| AAPL Apple Inc. | Reduce -1.8% | 3.57% | −0.51 |
| CALF PCR US SM CP CSH CWS ETF-Usd | Reduce -24.8% | 1.51% | −0.45 |
| FIXD First Trust Smith Opportunis | Reduce -33.8% | 0.74% | −0.42 |
| IJH iShares Core S&P Midcap ETF | Reduce -81.2% | 0.07% | −0.30 |
| GTO Invesco Total Return Bond Et | Reduce -0.4% | 4.39% | −0.18 |
| FPE FT-Preferred Secur & Inc. ETF | Reduce -14.0% | 0.93% | −0.18 |
| VEA Vanguard Ftse Developed ETF | Sold out | 0.00% | −0.16 |
| PTRB Pgim Total Return Bond ETF | Reduce -0.7% | 3.66% | −0.15 |
| BX Blackstone Inc. | Reduce -78.9% | 0.04% | −0.14 |
| JPST JPMorgan Ultra-Short Income | Reduce -19.5% | 0.42% | −0.12 |
| SBR Sabine Royalty Trust | Reduce -12.4% | 0.59% | −0.12 |
| BSV Vanguard Short-Term Bond ETF | Reduce -14.7% | 0.41% | −0.08 |
| PEP Pepsico Inc. | Reduce -9.2% | 0.28% | −0.08 |
| KOLD Proshares Ultrashort Bloombe | Sold out | 0.00% | −0.07 |
| GOOGL Alphabet Inc. Class A | Reduce -31.9% | 0.19% | −0.06 |
| TPL Texas Pacific Land Corp. | Reduce -0.1% | 0.19% | −0.06 |
| NOC Northrop Grumman Corp. | Reduce -38.4% | 0.07% | −0.05 |
| TXN Texas Instruments Inc. | Reduce -48.2% | 0.07% | −0.05 |
| VWO Vanguard Ftse Emerging Marke | Sold out | 0.00% | −0.05 |
| SYK Stryker Corp. | Sold out | 0.00% | −0.05 |
| TMO Thermo Fisher Scientific Inc. | Sold out | 0.00% | −0.05 |
| JPM JPMorgan Chase & Co. | Reduce -26.5% | 0.23% | −0.04 |
| AMGN Amgen Inc. | Reduce -29.0% | 0.07% | −0.04 |
| GNR State Street SPDR S&P Global | Sold out | 0.00% | −0.04 |
| ADP Automatic Data Processing | Reduce -53.9% | 0.03% | −0.04 |
| OKE Oneok Inc. | Reduce -1.9% | 0.14% | −0.04 |
| VB Vanguard Most SM-Cap ETF-Usd | Sold out | 0.00% | −0.04 |
| SLV iShares Silver Trust | Sold out | 0.00% | −0.04 |
| SBUX Starbucks Corp. | Sold out | 0.00% | −0.04 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −0.04 |
| EMR Emerson Electric Co. | Sold out | 0.00% | −0.04 |
| SPDW Ste STR SPDR PT DW Eu ETF | Reduce -27.2% | 0.12% | −0.03 |
| AMP Ameriprise Financial Inc. | Sold out | 0.00% | −0.03 |
| LULU Lululemon Athletica Inc. | Sold out | 0.00% | −0.03 |
| ITW Illinois Tool Works | Sold out | 0.00% | −0.03 |
| SPEM State Street SP PTF Em ETF | Sold out | 0.00% | −0.03 |
| CVX Chevron Corp. | Reduce -12.0% | 0.08% | −0.03 |
| ADBE Adobe Inc. | Sold out | 0.00% | −0.03 |
| APD Air Products & Chemicals Inc. | Sold out | 0.00% | −0.03 |
| CABO Cable One Inc. | Sold out | 0.00% | −0.03 |
| ESGD iShares Trust iShares ESG Aw | Sold out | 0.00% | −0.03 |
| JNJ Johnson & Johnson | Reduce -16.7% | 0.08% | −0.03 |
| NEE Nextera Energy Inc. | Reduce -35.3% | 0.04% | −0.02 |
| IVV iShares Core S&P 500 ETF | Reduce -10.0% | 0.53% | −0.02 |
| V Visa Inc. Class A | Reduce -20.5% | 0.07% | −0.02 |
| PG The Procter & Gamble Co. | Reduce -27.1% | 0.04% | −0.02 |
| LLY Eli Lilly & Co. | Reduce -15.6% | 0.06% | −0.02 |
| MOAT Vaneck Morningstar Wide Moat | Reduce -4.4% | 1.06% | −0.02 |
| COP Conocophillips | Reduce -15.2% | 0.04% | −0.02 |
Portfolio Buys Q1 2025 → Q2 2025
| SCHG Schwab US Large-Cap Growth | New | 1.11% | +1.11 |
| QUAL iShares MSCI USA Quality Fac | Add +2.5% | 11.94% | +0.67 |
| DGRW Wisdomtree U.S. Quality Divi | Add +11.5% | 3.68% | +0.42 |
| AVGO Broadcom Inc. | Add +0.1% | 0.51% | +0.19 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +3.1% | 1.94% | +0.18 |
| QQQ Invesco QQQ Trust Series 1 | Add +0.2% | 1.26% | +0.15 |
| IQLT iShares MSCI International Q | Add +0.1% | 2.51% | +0.12 |
| RDVY First Trust Rising Dividend | Add +3.6% | 1.75% | +0.12 |
| VIGI Vanguard Int Div App Indx FD | Add +1.0% | 2.02% | +0.11 |
| ANGL Vaneck Fallen Angel High YLD | Add +6.4% | 2.13% | +0.09 |
| SJNK SS SPDR BB St Hi Yield ETF | Add +4.8% | 2.82% | +0.07 |
| CRWV Coreweave Inc. Class A | New | 0.06% | +0.06 |
| SRLN SS Blackstone Sr Loan ETF | New | 0.06% | +0.06 |
| TQQQ Proshares Ultrapro QQQ | Add +23.5% | 0.11% | +0.05 |
| IBM Intl Business Machines Corp. | Add +13.4% | 0.20% | +0.04 |
| IGSB iShares 1-5Y Inv Grade Corp. | Add +157.9% | 0.07% | +0.04 |
| ORCL Oracle Corp. | New | 0.04% | +0.04 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +2.8% | 0.12% | +0.04 |
| EPD Enterprise Products Partners | Add +23.9% | 0.47% | +0.04 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +22.9% | 0.22% | +0.03 |
| MSTR Strategy Inc. | New | 0.03% | +0.03 |
| SMH Vaneck Semiconductor ETF | New | 0.03% | +0.03 |
| DIREXION DAILY SEMI BEAR 3X | New | 0.03% | +0.03 |
| PPA Invesco Aerospace & Defense | New | 0.03% | +0.03 |
| OKLO Oklo Inc. | New | 0.03% | +0.03 |
| MU Micron Technology Inc. | New | 0.03% | +0.03 |
| VZ Verizon Communications Inc. | New | 0.03% | +0.03 |
| IGV iShares Expanded Tech-Softwa | New | 0.03% | +0.03 |
| CRBN Ish Low Car Opt Ms Ac ETF-US | New | 0.03% | +0.03 |
| EMXC iShares MSCI Emr MRK Ex Chna | New | 0.03% | +0.03 |
| BA The Boeing Co. | New | 0.03% | +0.03 |
| BKNG Booking Holdings Inc. | Add +3.7% | 0.11% | +0.02 |
| SCHW Schwab (charles) Corp. | Add +0.1% | 0.19% | +0.02 |
| NLY Annaly Capital Management Inc. | Add +34.3% | 0.10% | +0.02 |
| UBER Uber Technologies Inc. | Add +3.4% | 0.07% | +0.02 |
| PRT Permrock Royalty Trust | New | 0.02% | +0.02 |
| IEFA iShares Core MSCI Eafe ETF | Add +0.3% | 0.21% | +0.01 |
| PM Philip Morris International | Add +2.7% | 0.11% | +0.01 |
| AXP American Express Co. | Add +13.5% | 0.06% | +0.01 |
| AGNC AGNC Investment Corp. | Add +23.8% | 0.08% | +0.01 |
| ELDN Eledon Pharmaceuticals Inc. | New | 0.01% | +0.01 |
| QQQE Dirx Nasdaq-100EQ Wi ETF-Usd | Add +18.2% | 0.05% | +0.01 |
| IVW iShares S&P 500 Growth ETF | Add +0.1% | 0.07% | +0.01 |
| BAC Bank of America Corp. | Add +8.0% | 0.05% | +0.01 |
| NXPI NXP Semiconductors NV | Add +5.0% | 0.05% | +0.01 |
| COST Costco Wholesale Corp. | Add +4.5% | 0.12% | +0.01 |
| IEMG iShares Core MSCI Emerging | Add +0.0% | 0.09% | +0.01 |
| ZJK ZJK Industrial Co. Ltd. Class A | New | 0.01% | +0.01 |
| TWO Two Harbors Investment Corp. | Add +54.6% | 0.04% | +0.01 |
| ESGU iShares ESG Aware MSCI USA | Add +0.3% | 0.08% | +0.01 |
Notes & Other Activity Q1 2025 → Q2 2025
| RWT HOLDINGS INC (RWT 5.75 10/01/25) | NOTE 5.750%10/0 · principal | New | 10,000 | $10K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 268 | $1.0B | QUAL, SCHD, VIG, AAPL, SPGP |
| Q1 2026 | 222 | $887.9M | QUAL, SCHD, VIG, RSP, SPGP |
| Q4 2025 | 205 | $855.1M | QUAL, SCHD, VIG, SPGP, RSP |
| Q3 2025 | 198 | $817.3M | QUAL, SCHD, VIG, SPGP, RSP |
| Q2 2025 | 182 | $760.6M | QUAL, SCHD, VIG, SPGP, RSP |
| Q1 2025 | 183 | $734.4M | QUAL, SCHD, VIG, SPGP, RSP |
| Q4 2024 | 186 | $735.1M | QUAL, SCHD, VIG, RSP, AAPL |
| Q3 2024 | 168 | $692.5M | QUAL, SCHD, RSP, VIG, GTO |
| Q2 2024 | 156 | $610.2M | QUAL, SCHD, RSP, VIG, AAPL |
| Q1 2024 | 159 | $580.2M | QUAL, SCHD, RSP, VIG, AAPL |