Howard Financial Services, LTD.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 23, 2025), Howard Financial Services, LTD. reported 198 stock positions worth $817.3 million. Its top holding was iShares MSCI USA Quality Fac (QUAL) at 12.0% of the portfolio, followed by Schwab US DVD Equity ETF (SCHD, 6.6%) and Vanguard Dividend Apprec ETF (VIG, 5.0%). Compared with Q2 2025, it opened 22 new positions, sold out of 6, added to 98 and reduced 49. The biggest buy was Schwab US Large-Cap Growth (SCHG, shares +81%) and the biggest sale Schwab US DVD Equity ETF (SCHD, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- DALLAS, TX
- CIK
- 0001768130
- Portfolio Value
- $817.3M (Q3 2025)
- SEC Filing
- 0001768130-25-000006 ↗ filed Oct 23, 2025
Holdings Value
Holdings 198 stocks · $817.3M
| QUAL iShares MSCI USA Quality Fac | 12.02% | 505,170 | $98.3M | Add +1.6% |
| SCHD Schwab US DVD Equity ETF | 6.65% | 1,990,249 | $54.3M | Reduce -2.1% |
| VIG Vanguard Dividend Apprec ETF | 4.98% | 188,677 | $40.7M | Add +2.1% |
| SPGP Invesco S&P 500 Garp ETF | 4.80% | 344,943 | $39.2M | Reduce -0.4% |
| RSP Invesco S&P 500 Equal Weight | 4.56% | 196,402 | $37.3M | Reduce -1.2% |
| GTO Invesco Total Return Bond Et | 4.21% | 724,927 | $34.4M | Add +1.9% |
| AAPL Apple Inc. | 4.12% | 132,253 | $33.7M | Reduce -0.2% |
| HTRB Hartford TTL RTRN BND ETF | 3.77% | 899,040 | $30.8M | Add +1.5% |
| DGRW Wisdomtree U.S. Quality Divi | 3.72% | 341,850 | $30.4M | Add +2.2% |
| PTRB Pgim Total Return Bond ETF | 3.50% | 677,420 | $28.6M | Add +1.9% |
| SJNK SS SPDR BB St Hi Yield ETF | 2.72% | 868,000 | $22.2M | Add +3.0% |
| TOTL SS Doubleline TR Tact ETF | 2.58% | 519,430 | $21.1M | Reduce -1.3% |
| IQLT iShares MSCI International Q | 2.38% | 440,223 | $19.5M | Reduce -0.3% |
| ANGL Vaneck Fallen Angel High YLD | 2.14% | 587,331 | $17.5M | Add +6.2% |
| SCHG Schwab US Large-Cap Growth | 2.05% | 524,856 | $16.7M | Add +81.0% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 1.99% | 378,674 | $16.3M | Add +0.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.95% | 23,873 | $15.9M | Add +0.1% |
| RDVY First Trust Rising Dividend | 1.88% | 228,966 | $15.4M | Add +7.9% |
| VIGI Vanguard Int Div App Indx FD | 1.86% | 169,310 | $15.2M | Reduce -0.8% |
| NVDA Nvidia Corp. | 1.79% | 78,515 | $14.6M | Add +0.7% |
| XSOE Wisdmtree Emerg MKT Ex-St Ow | 1.40% | 301,603 | $11.4M | Reduce -0.9% |
| MSFT Microsoft Corp. | 1.37% | 21,560 | $11.2M | Add +2.4% |
| CALF PCR US SM CP CSH CWS ETF-Usd | 1.28% | 238,585 | $10.4M | Reduce -17.5% |
| QQQ Invesco QQQ Trust Series 1 | 1.28% | 17,387 | $10.4M | Reduce -0.1% |
| MOAT Vaneck Morningstar Wide Moat | 1.03% | 84,825 | $8.4M | Reduce -1.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.88% | 14,308 | $7.2M | Add +2.2% |
| FPE FT-Preferred Secur & Inc. ETF | 0.82% | 367,399 | $6.7M | Reduce -7.5% |
| AMZN Amazon.com Inc. | 0.74% | 27,464 | $6.0M | Add +1.3% |
| SBR Sabine Royalty Trust | 0.66% | 67,940 | $5.4M | Add +0.2% |
| AVGO Broadcom Inc. | 0.61% | 15,162 | $5.0M | Add +6.7% |
| FIXD First Trust Smith Opportunis | 0.57% | 104,636 | $4.6M | Reduce -18.9% |
| IVV iShares Core S&P 500 ETF | 0.54% | 6,539 | $4.4M | Add +0.3% |
| EPD Enterprise Products Partners | 0.45% | 117,443 | $3.7M | Add +1.3% |
| CMG Chipotle Mexican Grill Inc. | 0.45% | 93,310 | $3.7M | Reduce -0.2% |
| VTI VG Morningstar TS MKT ETF-US | 0.44% | 10,909 | $3.6M | Add +0.2% |
| RODM Hartford Multifact Dev MRKT | 0.40% | 92,806 | $3.3M | Reduce -0.9% |
| ET Energy Transfer LP | 0.39% | 187,552 | $3.2M | Reduce -0.4% |
| JPST JPMorgan Ultra-Short Income | 0.39% | 62,873 | $3.2M | Add +0.0% |
| BSV Vanguard Short-Term Bond ETF | 0.37% | 37,982 | $3.0M | Reduce -3.8% |
| SCHE Schwab Emrg Mrkts Eqty ETF | 0.33% | 80,923 | $2.7M | Reduce -1.6% |
| TSLA Tesla Inc. | 0.31% | 5,732 | $2.5M | Reduce -0.4% |
| PLTR Palantir Technologies Inc. Class A | 0.30% | 13,456 | $2.5M | Reduce -0.2% |
| SCHF Schwab Intl Equity ETF | 0.29% | 100,953 | $2.4M | Add +0.8% |
| PEP Pepsico Inc. | 0.27% | 15,838 | $2.2M | Reduce -1.6% |
| XOM Exxon Mobil Corp. | 0.27% | 19,592 | $2.2M | Reduce -1.0% |
| GOOGL Alphabet Inc. Class A | 0.27% | 8,926 | $2.2M | Add +6.5% |
| JPM JPMorgan Chase & Co. | 0.24% | 6,138 | $1.9M | Add +1.2% |
| IEFA iShares Core MSCI Eafe ETF | 0.21% | 19,522 | $1.7M | Reduce -0.0% |
| MPLX MPLX LP | 0.21% | 33,844 | $1.7M | Add +0.5% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.21% | 18,283 | $1.7M | Reduce -0.2% |
| SSB Southstate Bank Corp. | 0.20% | 16,149 | $1.6M | No change |
| SSB Southstate Bank Corp. | 0.20% | 16,149 | $1.6M | New |
| SCHW Schwab (charles) Corp. | 0.19% | 16,045 | $1.5M | Add +0.3% |
| MA Mastercard Inc. Class A | 0.18% | 2,537 | $1.4M | Add +1.2% |
| TSM Taiwan Semiconductor-SP ADR | 0.17% | 5,088 | $1.4M | Add +1.3% |
| TPL Texas Pacific Land Corp. | 0.15% | 1,350 | $1.3M | No change |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.15% | 4,417 | $1.2M | Reduce -12.5% |
| NFLX Netflix Inc. | 0.15% | 1,029 | $1.2M | Add +1.1% |
| BSM Black Stone Minerals LP | 0.15% | 92,079 | $1.2M | Add +0.2% |
| JEPI JPMorgan Equity Premium Inco | 0.14% | 20,757 | $1.2M | Add +0.3% |
| FNDA Schwab Fndmntl US SM Co. ETF | 0.14% | 36,819 | $1.1M | Add +0.2% |
| GOOG Alphabet Inc. Class C | 0.13% | 4,441 | $1.1M | Add +0.4% |
| META Meta Platforms Inc. Class A | 0.13% | 1,455 | $1.1M | Reduce -18.4% |
| TQQQ Proshares Ultrapro QQQ | 0.13% | 10,125 | $1.0M | No change |
| JBI Janus International Group Inc. | 0.13% | 104,926 | $1.0M | No change |
| WMT Walmart Inc. | 0.13% | 10,044 | $1.0M | Add +3.0% |
| DMLP Dorchester Minerals LP | 0.12% | 38,198 | $989K | Add +11.7% |
| GHC Graham Holdings Co. Class B | 0.12% | 839 | $988K | Add +0.1% |
| OKE Oneok Inc. | 0.12% | 13,530 | $987K | Add +6.2% |
| CADE Cadence Bank | 0.12% | 25,720 | $966K | Add +0.8% |
| SPDW Ste STR SPDR PT DW Eu ETF | 0.12% | 22,431 | $960K | No change |
| VNOM Viper Energy Inc. Class A | 0.11% | 24,380 | $932K | New |
| VNOM Viper Energy Inc. | 0.11% | 24,380 | $932K | Add +20.3% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.11% | 1,845 | $905K | Reduce -0.9% |
| COST Costco Wholesale Corp. | 0.11% | 946 | $876K | Add +0.3% |
| NLY Annaly Capital Management Inc. | 0.10% | 41,266 | $834K | Add +1.9% |
| GLD SPDR Gold Shares | 0.10% | 2,306 | $820K | Reduce -2.5% |
| PM Philip Morris International | 0.09% | 4,781 | $776K | Add +1.9% |
| IEMG iShares Core MSCI Emerging | 0.09% | 11,720 | $773K | Reduce -0.0% |
| JNJ Johnson & Johnson | 0.09% | 4,071 | $755K | Add +5.1% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.09% | 1 | $754K | No change |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.09% | 14,173 | $752K | Add +40.4% |
| BKNG Booking Holdings Inc. | 0.09% | 138 | $745K | Reduce -0.7% |
| CVX Chevron Corp. | 0.09% | 4,760 | $739K | Add +9.8% |
| LUV Southwest Airlines Co. | 0.09% | 22,601 | $721K | Add +0.3% |
| HD Home Depot Inc. | 0.09% | 1,773 | $719K | Add +4.7% |
| JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F | 0.09% | 12,353 | $711K | Add +0.3% |
| ABBV Abbvie Inc. | 0.09% | 3,038 | $703K | Add +2.5% |
| AGNC AGNC Investment Corp. | 0.08% | 70,896 | $694K | Add +2.7% |
| ESGU iShares ESG Aware MSCI USA | 0.08% | 4,756 | $692K | Add +0.2% |
| NOC Northrop Grumman Corp. | 0.08% | 1,127 | $687K | Add +1.5% |
| CSCO Cisco Systems Inc. | 0.08% | 9,042 | $619K | Add +0.8% |
| VOO Vanguard S&P 500 ETF | 0.07% | 999 | $612K | Add +5.5% |
| MRK Merck & Co. Inc. | 0.07% | 7,107 | $597K | Reduce -0.1% |
| UBER Uber Technologies Inc. | 0.07% | 6,072 | $595K | Add +0.5% |
| IJH iShares Core S&P Midcap ETF | 0.07% | 8,952 | $584K | Add +0.2% |
| INTC Intel Corp. | 0.07% | 17,055 | $572K | Reduce -3.8% |
| IVW iShares S&P 500 Growth ETF | 0.07% | 4,729 | $571K | Add +0.1% |
| MS Morgan Stanley | 0.07% | 3,521 | $560K | Add +23.4% |
| BX Blackstone Inc. | 0.07% | 3,175 | $542K | Add +64.4% |
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 | No change |
Total filed on the 13F, all lines: $817.3M.
Portfolio Sells Q2 2025 → Q3 2025
| SCHD Schwab US DVD Equity ETF | Reduce -2.1% | 6.65% | −0.43 |
| CMG Chipotle Mexican Grill Inc. | Reduce -0.2% | 0.45% | −0.24 |
| CALF PCR US SM CP CSH CWS ETF-Usd | Reduce -17.5% | 1.28% | −0.24 |
| TOTL SS Doubleline TR Tact ETF | Reduce -1.3% | 2.58% | −0.20 |
| RSP Invesco S&P 500 Equal Weight | Reduce -1.2% | 4.56% | −0.19 |
| FIXD First Trust Smith Opportunis | Reduce -18.9% | 0.57% | −0.18 |
| VIGI Vanguard Int Div App Indx FD | Reduce -0.8% | 1.86% | −0.17 |
| IQLT iShares MSCI International Q | Reduce -0.3% | 2.38% | −0.13 |
| FPE FT-Preferred Secur & Inc. ETF | Reduce -7.5% | 0.82% | −0.11 |
| SPGP Invesco S&P 500 Garp ETF | Reduce -0.4% | 4.80% | −0.11 |
| FNGG Direxion Daily Nyse Fang+ Bu | Sold out | 0.00% | −0.09 |
| SRLN SS Blackstone Sr Loan ETF | Sold out | 0.00% | −0.06 |
| BFST Business First Bancshares | Sold out | 0.00% | −0.06 |
| ET Energy Transfer LP | Reduce -0.4% | 0.39% | −0.06 |
| TPYP Managed Portfolio Series | Sold out | 0.00% | −0.05 |
| IBM Intl Business Machines Corp. | Reduce -12.5% | 0.15% | −0.04 |
| META Meta Platforms Inc. Class A | Reduce -18.4% | 0.13% | −0.04 |
| BSV Vanguard Short-Term Bond ETF | Reduce -3.8% | 0.37% | −0.04 |
| MOAT Vaneck Morningstar Wide Moat | Reduce -1.7% | 1.03% | −0.04 |
| EAT Brinker International Inc. | Sold out | 0.00% | −0.03 |
| TXN Texas Instruments Inc. | Reduce -21.7% | 0.05% | −0.03 |
| ISRG Intuitive Surgical Inc. | Reduce -7.4% | 0.04% | −0.02 |
| EZPW Ezcorp Inc. Class A | Sold out | 0.00% | −0.02 |
| RODM Hartford Multifact Dev MRKT | Reduce -0.9% | 0.40% | −0.02 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -0.2% | 0.21% | −0.02 |
| BKNG Booking Holdings Inc. | Reduce -0.7% | 0.09% | −0.01 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -0.9% | 0.11% | −0.01 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -10.7% | 0.06% | −0.01 |
| XOM Exxon Mobil Corp. | Reduce -1.0% | 0.27% | −0.01 |
| KO The Coca-Cola Co. | Reduce -0.6% | 0.06% | −0.01 |
| PEP Pepsico Inc. | Reduce -1.6% | 0.27% | −0.01 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -0.0% | 0.21% | −0.01 |
| AMGN Amgen Inc. | Reduce -2.0% | 0.06% | −0.01 |
| EQT Eqt Corp. | Reduce -1.1% | 0.03% | −0.01 |
| WES Western Midstream Partners L | Reduce -2.3% | 0.05% | −0.00 |
| LEAD Siren Divcon Leaders Dividen | Reduce -3.3% | 0.06% | −0.00 |
| UNP Union Pacific Corp. | Reduce -0.3% | 0.03% | −0.00 |
| VXF Vanguard Extended Market ETF | Reduce -3.5% | 0.05% | −0.00 |
| COP Conocophillips | Reduce -1.0% | 0.04% | −0.00 |
| MRK Merck & Co. Inc. | Reduce -0.1% | 0.07% | −0.00 |
| IGV iShares Expanded Tech-Softwa | Reduce -0.5% | 0.03% | −0.00 |
| XLE SS Energy Select Sector | Reduce -0.0% | 0.04% | −0.00 |
| CRBN Ish Low Car Opt Ms Ac ETF-US | Reduce -0.5% | 0.03% | −0.00 |
| IWF iShares Russell 1000 Growth | Reduce -0.5% | 0.04% | +0.00 |
| SLYV SS SPDR S&P 600 SC Val ETF | Reduce -0.6% | 0.06% | +0.00 |
| IEMG iShares Core MSCI Emerging | Reduce -0.0% | 0.09% | +0.00 |
| SCHE Schwab Emrg Mrkts Eqty ETF | Reduce -1.6% | 0.33% | +0.00 |
| GLD SPDR Gold Shares | Reduce -2.5% | 0.10% | +0.01 |
| BABA Alibaba Group Holding-SP ADR | Reduce -17.6% | 0.05% | +0.01 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -0.1% | 1.28% | +0.02 |
Portfolio Buys Q2 2025 → Q3 2025
| SCHG Schwab US Large-Cap Growth | Add +81.0% | 2.05% | +0.94 |
| SSB Southstate Bank Corp. | New | 0.20% | +0.20 |
| NVDA Nvidia Corp. | Add +0.7% | 1.79% | +0.17 |
| RDVY First Trust Rising Dividend | Add +7.9% | 1.88% | +0.13 |
| VNOM Viper Energy Inc. Class A | New | 0.11% | +0.11 |
| AVGO Broadcom Inc. | Add +6.7% | 0.61% | +0.10 |
| QUAL iShares MSCI USA Quality Fac | Add +1.6% | 12.02% | +0.08 |
| GOOGL Alphabet Inc. Class A | Add +6.5% | 0.27% | +0.07 |
| SBR Sabine Royalty Trust | Add +0.2% | 0.66% | +0.07 |
| VPLS Vanguard Core-Plus Bond ETF | New | 0.06% | +0.06 |
| TPYP Tortoise North American Pipe | New | 0.04% | +0.04 |
| T AT&T Inc. | New | 0.04% | +0.04 |
| DGRW Wisdomtree U.S. Quality Divi | Add +2.2% | 3.72% | +0.04 |
| DELL Dell Technologies -C | New | 0.03% | +0.03 |
| ETN Eaton Corp. PLC | New | 0.03% | +0.03 |
| AEM Agnico Eagle Mines Ltd. | New | 0.03% | +0.03 |
| TMO Thermo Fisher Scientific Inc. | New | 0.03% | +0.03 |
| GOOG Alphabet Inc. Class C | Add +0.4% | 0.13% | +0.03 |
| CAT Caterpillar Inc. | New | 0.03% | +0.03 |
| SLV iShares Silver Trust | New | 0.03% | +0.03 |
| OKLO Oklo Inc. | Add +3.8% | 0.06% | +0.03 |
| BX Blackstone Inc. | Add +64.4% | 0.07% | +0.03 |
| XLF SS Financial Select Sector | New | 0.03% | +0.03 |
| LMT Lockheed Martin Corp. | New | 0.03% | +0.03 |
| UNH Unitedhealth Group Inc. | New | 0.03% | +0.03 |
| VST Vistra Corp. | New | 0.03% | +0.03 |
| RTX RTX Corp. | New | 0.03% | +0.03 |
| SPSM SS SPDR P S&P 600 Small Cap | New | 0.03% | +0.03 |
| ESGD iShares Trust iShares ESG Aw | New | 0.03% | +0.03 |
| NEM Newmont Corp. | New | 0.02% | +0.02 |
| TSM Taiwan Semiconductor-SP ADR | Add +1.3% | 0.17% | +0.02 |
| IGSB iShares 1-5Y Inv Grade Corp. | Add +40.4% | 0.09% | +0.02 |
| ORCL Oracle Corp. | Add +18.5% | 0.06% | +0.02 |
| GHC Graham Holdings Co. Class B | Add +0.1% | 0.12% | +0.02 |
| MS Morgan Stanley | Add +23.4% | 0.07% | +0.02 |
| DIREXION SHARES ETF TRUST | New | 0.02% | +0.02 |
| JNJ Johnson & Johnson | Add +5.1% | 0.09% | +0.01 |
| VS TRUST | New | 0.01% | +0.01 |
| ABBV Abbvie Inc. | Add +2.5% | 0.09% | +0.01 |
| VNOM Viper Energy Inc. | Add +20.3% | 0.11% | +0.01 |
| DIREXION DAILY SEMI BEAR 3X | Add +125.8% | 0.04% | +0.01 |
| NOC Northrop Grumman Corp. | Add +1.5% | 0.08% | +0.01 |
| CADE Cadence Bank | Add +0.8% | 0.12% | +0.01 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | Add +0.6% | 1.99% | +0.01 |
| VIG Vanguard Dividend Apprec ETF | Add +2.1% | 4.98% | +0.01 |
| UPS United Parcel Service Class B | Add +74.0% | 0.04% | +0.01 |
| CVX Chevron Corp. | Add +9.8% | 0.09% | +0.01 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +0.1% | 1.95% | +0.01 |
| JOUT Johnson Outdoors Inc. Class A | Add +1.0% | 0.04% | +0.01 |
| MU Micron Technology Inc. | Add +0.1% | 0.04% | +0.01 |
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 |