McGowan Group Asset Management, Inc.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), McGowan Group Asset Management, Inc. reported 112 stock positions worth $799.0 million. Its top holding was General MNY MKT Fund at 13.0% of the portfolio, followed by Nuveen Global High Income (JGH, 6.3%) and Alliancebernstein GL Hi (XAWFX, 5.2%). Compared with Q2 2025, it opened 9 new positions, sold out of 11, added to 39 and reduced 43. The biggest buy was General MNY MKT Fund (shares +60%) and the biggest sale an exit from United Parcel Service Class B (UPS).

Most Recent 13F
Q2 2026
Location
DALLAS, TX
CIK
0001633227
Portfolio Value
$799.0M (Q3 2025)
SEC Filing
0001633227-25-000005 ↗ filed Nov 13, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $678.1M Q1 2024 Q2 2024: $703.5M Q2 2024 Q3 2024: $745.3M Q3 2024 Q4 2024: $734.1M Q4 2024 Q1 2025: $743.7M Q1 2025 Q2 2025: $782.8M Q2 2025 Q3 2025: $799.0M $799.0M Q3 2025 Q4 2025: $798.8M Q4 2025 Q1 2026: $784.9M Q1 2026 Q2 2026: $822.7M Q2 2026

Holdings 112 stocks · $799.0M
GENERAL MNY MKT FUND 13.01% 103,942,708 $103.9M Add +60.2%
JGH Nuveen Global High Income 6.34% 3,748,998 $50.7M Reduce -0.1%
XAWFX Alliancebernstein GL Hi Inc. 5.24% 3,738,033 $41.9M Reduce -1.7%
HYT BlackRock Corp. Hi YLD 4.49% 3,780,166 $35.9M Add +0.2%
DSL Doubleline Income Solutions 4.47% 2,906,061 $35.7M Reduce -9.9%
UTF Cohen & Steers Infrastructur 4.26% 1,371,502 $34.0M Add +0.8%
BTI British American Tob-SP ADR 3.70% 556,867 $29.6M Reduce -0.4%
XOM Exxon Mobil Corp. 3.51% 248,966 $28.1M Reduce -2.6%
PAGP Plains GP Holdings LP 3.04% 1,331,633 $24.3M Reduce -0.1%
ARCC Ares Capital Corp. 2.99% 1,169,612 $23.9M Add +0.3%
BWXT BWX Technologies Inc. 2.97% 128,803 $23.7M Reduce -0.5%
MMM 3M Co. 2.50% 128,532 $19.9M Reduce -0.1%
XEVTX Eaton Vance Tax-Adv DVD Inc. 2.41% 787,656 $19.3M Reduce -5.5%
DELL Dell Technologies -C 2.35% 132,637 $18.8M Reduce -0.3%
GSST Goldman Sachs Ultra Short Bo 2.13% 335,916 $17.0M Add +3.6%
LLY Eli Lilly & Co. 2.06% 21,574 $16.5M Reduce -0.1%
XNEAX Nuveen Amt-FR QLTY Muni Inc. 1.92% 1,349,264 $15.4M Add +4.8%
CSQ Calamos Strat TTL RTRN FND 1.91% 792,485 $15.3M Add +1.2%
NAD Nuveen Quality Municipal Inc. 1.91% 1,303,340 $15.2M Add +4.8%
ET Energy Transfer LP 1.89% 880,436 $15.1M Add +2.5%
UNM Unum Group 1.85% 189,725 $14.8M Reduce -0.7%
EBAY eBay Inc. 1.75% 153,566 $14.0M Reduce -1.6%
ETG Eaton Vance T/A GL DVD Incm 1.65% 623,986 $13.2M Add +0.4%
CQP Cheniere Energy Partners LP 1.61% 239,636 $12.9M Reduce -0.2%
PR Permian Resources Corp. Class A 1.51% 939,884 $12.0M Reduce -0.4%
EPD Enterprise Products Partners 1.45% 369,242 $11.5M Reduce -0.3%
MSFT Microsoft Corp. 1.09% 16,766 $8.7M Reduce -9.1%
V Visa Inc. Class A 1.07% 25,104 $8.6M Reduce -0.0%
GOOGL Alphabet Inc. Class A 0.95% 31,259 $7.6M Reduce -1.4%
ALL Allstate Corp. 0.94% 35,160 $7.5M Add +1.4%
CVX Chevron Corp. 0.81% 41,883 $6.5M Add +0.5%
TOST Toast Inc. Class A 0.81% 176,261 $6.4M Reduce -3.1%
TXN Texas Instruments Inc. 0.77% 33,283 $6.1M Add +24.4%
NVG Nuveen Amt-FR Muni CRDT 0.68% 444,999 $5.5M Add +9.2%
NZF Nuveen Municipal Credit Inc. 0.65% 416,381 $5.2M Add +9.3%
AAPL Apple Inc. 0.61% 19,021 $4.8M Reduce -4.0%
TMUS T-Mobile US Inc. 0.58% 19,525 $4.7M Reduce -2.7%
AMZN Amazon.com Inc. 0.57% 20,775 $4.6M Reduce -2.4%
FANG Diamondback Energy Inc. 0.50% 28,070 $4.0M Reduce -1.7%
KYN Kayne Anderson Energy Infra 0.48% 306,956 $3.8M Add +0.1%
ENVX Enovix Corp. 0.45% 362,372 $3.6M Add +21.4%
PANW Palo Alto Networks Inc. 0.36% 14,039 $2.9M Reduce -1.4%
EXE Expand Energy Corp. 0.32% 23,968 $2.5M Add +1.4%
STKS One Group Hospitality Inc. filed as THE ONE GROUP HOSPITALITY IN 0.31% 838,335 $2.5M No change
CPA Copa Holdings SA Class A 0.27% 18,140 $2.2M Add +4.2%
PG The Procter & Gamble Co. 0.21% 10,767 $1.7M Reduce -37.1%
BRK.B Berkshire Hathaway Inc. Class B 0.20% 3,207 $1.6M No change
LNG Cheniere Energy Inc. 0.19% 6,424 $1.5M Reduce -5.8%
MA Mastercard Inc. Class A 0.18% 2,538 $1.4M No change
BIL SS SPDR BB 1-3M T-Bill ETF 0.15% 13,095 $1.2M New
APH Amphenol Corp. Class A 0.15% 9,663 $1.2M Reduce -2.3%
ORCL Oracle Corp. 0.14% 3,931 $1.1M Add +0.5%
NVDA Nvidia Corp. 0.14% 5,914 $1.1M Reduce -5.1%
TSLA Tesla Inc. 0.13% 2,391 $1.1M Add +21.5%
KLAC KLA Corp. 0.13% 940 $1.0M No change
PM Philip Morris International 0.12% 5,845 $948K Reduce -8.6%
DE Deere & Co. 0.12% 2,012 $920K Add +0.1%
PLTR Palantir Technologies Inc. Class A 0.11% 4,851 $885K Reduce -74.0%
JNJ Johnson & Johnson 0.11% 4,671 $866K Add +0.2%
MO Altria Group Inc. 0.10% 12,702 $839K Reduce -18.9%
WMT Walmart Inc. 0.10% 7,825 $806K Reduce -20.7%
F Ford Motor Co. filed as FORD MTR CO 0.10% 65,004 $777K Reduce -18.8%
META Meta Platforms Inc. Class A 0.10% 1,037 $762K Reduce -4.3%
CAT Caterpillar Inc. 0.10% 1,592 $760K Add +0.1%
AMLP Alerian MLP ETF 0.09% 16,055 $753K Add +5.4%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.09% 2,660 $750K Add +4.7%
CG The Carlyle Group Inc. 0.09% 11,469 $719K Add +0.1%
COP Conocophillips 0.09% 7,595 $718K No change
RLGT Radiant Logistics Inc. 0.09% 118,831 $701K No change
CW Curtiss-Wright Corp. 0.09% 1,275 $692K No change
SOUN Soundhound AI Inc. Class A 0.08% 37,597 $605K No change
AMAT Applied Materials Inc. 0.07% 2,871 $588K Add +0.0%
VZ Verizon Communications Inc. 0.07% 12,959 $570K Reduce -0.7%
WMB Williams Cos Inc. 0.06% 7,980 $506K Add +0.6%
RTX RTX Corp. 0.06% 2,976 $498K Reduce -14.3%
SO The Southern Co. 0.06% 4,843 $459K Add +1.8%
ACN Accenture PLC Class A 0.06% 1,815 $448K Reduce -15.1%
NOC Northrop Grumman Corp. 0.06% 725 $442K No change
CI The Cigna Group 0.05% 1,462 $421K Reduce -7.0%
QCOM Qualcomm Inc. 0.05% 2,423 $403K Reduce -0.7%
FCX Freeport-McMoran Inc. 0.05% 10,002 $392K Add +0.1%
GDX Vaneck Gold Miners ETF 0.05% 5,133 $392K No change
DUK Duke Energy Corp. 0.05% 3,164 $392K Add +0.1%
IUSV iShares Core S&P U.S. Value 0.05% 3,872 $387K Add +0.4%
DLR Digital Realty Trust Inc. 0.05% 2,230 $386K No change
MELI MercadoLibre Inc. 0.04% 150 $351K Add +7.1%
JPM JPMorgan Chase & Co. 0.04% 1,055 $333K Reduce -36.0%
HMC Honda Motor Co. Ltd.-Spons ADR 0.04% 10,289 $317K No change
VOC Voc Energy Trust 0.04% 108,031 $317K Add +1.3%
ORLY O'reilly Automotive Inc. 0.04% 2,820 $304K No change
AZO AutoZone Inc. 0.04% 70 $300K No change
PWR Quanta Services Inc. 0.04% 701 $290K New
VTI VG Morningstar TS MKT ETF-US 0.04% 865 $284K No change
PEP Pepsico Inc. 0.03% 1,988 $279K Add +0.2%
TSM Taiwan Semiconductor-SP ADR 0.03% 995 $278K Add +0.4%
CRK Comstock Resources Inc. 0.03% 13,845 $275K No change
CSCO Cisco Systems Inc. 0.03% 3,951 $270K Reduce -14.5%
LHX L3HARRIS Technologies Inc. 0.03% 854 $261K New
GE General Electric filed as GE AEROSPACE 0.03% 867 $261K Reduce -1.3%
PSX Phillips 66 0.03% 1,893 $258K No change

Show all 112 holdings

Other holdings (9): bonds, preferreds, convertibles and warrants · $7.5M (not counted above)
SecurityClassShares / PrincipalValueChange
PRAIRIELANDS PUB FAC CORP TEX PROJ REV REV BDS PRAIRIELAND DETENTION CT MUNICIPAL BOND · principal 4,900,000$3.4MReduce -0.5%
FANNIN CNTY TEX PUB FAC CORP REV REF BDS DETENTION FAC PROJ 2014 MUNICIPAL BOND · principal 1,725,000$1.5MNo change
TULANE UNIV LA RFDG-TULANE UNIV-C 0.523 02/15/36 B/E DTD 05/31/07 CLB MUNICIPAL BOND · principal 660,000$614KNo change
NORTH TEX TWY AUTH REV SYS REF BDS B 5.000 01/01/43 B/E DTD 11/01/17 CL MUNICIPAL BOND · principal 550,000$554KNo change
FANNIN CNTY TEX PUB FAC CORP REV REF BDS DETENTION FAC PROJ 2014 MUNICIPAL BOND · principal 540,000$425KNo change
US TREASURY N/B (T 4.25 10/15/25) TREASURY · principal 330,000$330KNo change
SILICON VY TOB SECURITIZATION AUTH CALIF TOB SETTLEMENT REV TOBACCO MUNICIPAL BOND · principal 3,500,000$308KNo change
TOBACCO SETTLEMENT FING CORP VA ASSET BACKED BDS 2007C MUNICIPAL BOND · principal 830,000$207KNo change
PORT SEATTLE WASH REV INTER LIEN BDS 2019 5.000 04/01/44 B/E DTD 08/07/ MUNICIPAL BOND · principal 200,000$202KNew

Total filed on the 13F, all lines: $806.5M.

Portfolio Sells Q2 2025 → Q3 2025
UPS United Parcel Service Class B Sold out 0.00% −2.81
JAZZ Jazz Pharmaceuticals PLC Sold out 0.00% −0.64
DSL Doubleline Income Solutions Reduce -9.9% 4.47% −0.58
DDOG Datadog Inc. Class A Sold out 0.00% −0.42
PAGP Plains GP Holdings LP Reduce -0.1% 3.04% −0.27
TOST Toast Inc. Class A Reduce -3.1% 0.81% −0.22
PLTR Palantir Technologies Inc. Class A Reduce -74.0% 0.11% −0.21
XEVTX Eaton Vance Tax-Adv DVD Inc. Reduce -5.5% 2.41% −0.16
PG The Procter & Gamble Co. Reduce -37.1% 0.21% −0.14
PR Permian Resources Corp. Class A Reduce -0.4% 1.51% −0.14
UNM Unum Group Reduce -0.7% 1.85% −0.12
XAWFX Alliancebernstein GL Hi Inc. Reduce -1.7% 5.24% −0.11
CQP Cheniere Energy Partners LP Reduce -0.2% 1.61% −0.10
THQ Abrdn Healthcare Opport Sold out 0.00% −0.10
LLY Eli Lilly & Co. Reduce -0.1% 2.06% −0.09
MSFT Microsoft Corp. Reduce -9.1% 1.09% −0.08
CINF Cincinnati Financial Corp. Sold out 0.00% −0.07
V Visa Inc. Class A Reduce -0.0% 1.07% −0.07
ITW Illinois Tool Works Sold out 0.00% −0.04
GT Goodyear Tire & Rubber Co. Sold out 0.00% −0.04
LOW Lowe's Cos Inc. Sold out 0.00% −0.03
MCD McDonald's Corp. Sold out 0.00% −0.03
PM Philip Morris International Reduce -8.6% 0.12% −0.03
NKE Nike Inc. Class B Sold out 0.00% −0.03
UNH Unitedhealth Group Inc. Sold out 0.00% −0.03
AMZN Amazon.com Inc. Reduce -2.4% 0.57% −0.03
TMUS T-Mobile US Inc. Reduce -2.7% 0.58% −0.03
ACN Accenture PLC Class A Reduce -15.1% 0.06% −0.03
LNG Cheniere Energy Inc. Reduce -5.8% 0.19% −0.02
WMT Walmart Inc. Reduce -20.7% 0.10% −0.02
EPD Enterprise Products Partners Reduce -0.3% 1.45% −0.02
JPM JPMorgan Chase & Co. Reduce -36.0% 0.04% −0.02
PANW Palo Alto Networks Inc. Reduce -1.4% 0.36% −0.01
CI The Cigna Group Reduce -7.0% 0.05% −0.01
F Ford Motor Co. Reduce -18.8% 0.10% −0.01
MO Altria Group Inc. Reduce -18.9% 0.10% −0.01
XOM Exxon Mobil Corp. Reduce -2.6% 3.51% −0.01
CSCO Cisco Systems Inc. Reduce -14.5% 0.03% −0.01
META Meta Platforms Inc. Class A Reduce -4.3% 0.10% −0.01
MMM 3M Co. Reduce -0.1% 2.50% −0.01
RTX RTX Corp. Reduce -14.3% 0.06% −0.00
VZ Verizon Communications Inc. Reduce -0.7% 0.07% −0.00
QCOM Qualcomm Inc. Reduce -0.7% 0.05% +0.00
FANG Diamondback Energy Inc. Reduce -1.7% 0.50% +0.00
GE General Electric Reduce -1.3% 0.03% +0.00
NVDA Nvidia Corp. Reduce -5.1% 0.14% +0.01
APH Amphenol Corp. Class A Reduce -2.3% 0.15% +0.02
AAPL Apple Inc. Reduce -4.0% 0.61% +0.09
JGH Nuveen Global High Income Reduce -0.1% 6.34% +0.15
GOOGL Alphabet Inc. Class A Reduce -1.4% 0.95% +0.24

Portfolio Buys Q2 2025 → Q3 2025
GENERAL MNY MKT FUND Add +60.2% 13.01% +4.72
BIL SS SPDR BB 1-3M T-Bill ETF New 0.15% +0.15
XNEAX Nuveen Amt-FR QLTY Muni Inc. Add +4.8% 1.92% +0.13
NAD Nuveen Quality Municipal Inc. Add +4.8% 1.91% +0.11
CSQ Calamos Strat TTL RTRN FND Add +1.2% 1.91% +0.09
NZF Nuveen Municipal Credit Inc. Add +9.3% 0.65% +0.07
NVG Nuveen Amt-FR Muni CRDT Add +9.2% 0.68% +0.06
ENVX Enovix Corp. Add +21.4% 0.45% +0.06
TXN Texas Instruments Inc. Add +24.4% 0.77% +0.06
TSLA Tesla Inc. Add +21.5% 0.13% +0.05
ALL Allstate Corp. Add +1.4% 0.94% +0.05
CVX Chevron Corp. Add +0.5% 0.81% +0.05
GSST Goldman Sachs Ultra Short Bo Add +3.6% 2.13% +0.04
PWR Quanta Services Inc. New 0.04% +0.04
LHX L3HARRIS Technologies Inc. New 0.03% +0.03
MLPA Global X MLP ETF New 0.03% +0.03
AVAV Aerovironment Inc. New 0.03% +0.03
ORCL Oracle Corp. Add +0.5% 0.14% +0.03
AVGO Broadcom Inc. New 0.03% +0.03
TJX TJX Companies Inc. New 0.03% +0.03
GD General Dynamics Corp. New 0.03% +0.03
VGT Vanguard Info Tech ETF New 0.03% +0.03
CPA Copa Holdings SA Class A Add +4.2% 0.27% +0.03
JNJ Johnson & Johnson Add +0.2% 0.11% +0.02
CAT Caterpillar Inc. Add +0.1% 0.10% +0.02
CG The Carlyle Group Inc. Add +0.1% 0.09% +0.01
AMAT Applied Materials Inc. Add +0.0% 0.07% +0.01
TSM Taiwan Semiconductor-SP ADR Add +0.4% 0.03% +0.01
IUSV iShares Core S&P U.S. Value Add +0.4% 0.05% +0.00
SO The Southern Co. Add +1.8% 0.06% +0.00
PEP Pepsico Inc. Add +0.2% 0.03% +0.00
DUK Duke Energy Corp. Add +0.1% 0.05% +0.00
OGE Oge Energy Corp. Add +0.5% 0.03% +0.00
VOC Voc Energy Trust Add +1.3% 0.04% +0.00
TPZ Tort Electf Infra ETF-Usd Inc. Add +0.5% 0.03% +0.00
WMB Williams Cos Inc. Add +0.6% 0.06% −0.00
AMLP Alerian MLP ETF Add +5.4% 0.09% −0.00
IBM Intl Business Machines Corp. Add +4.7% 0.09% −0.00
MELI MercadoLibre Inc. Add +7.1% 0.04% −0.00
FCX Freeport-McMoran Inc. Add +0.1% 0.05% −0.01
ETG Eaton Vance T/A GL DVD Incm Add +0.4% 1.65% −0.01
DE Deere & Co. Add +0.1% 0.12% −0.02
KYN Kayne Anderson Energy Infra Add +0.1% 0.48% −0.02
EXE Expand Energy Corp. Add +1.4% 0.32% −0.03
ET Energy Transfer LP Add +2.5% 1.89% −0.10
HYT BlackRock Corp. Hi YLD Add +0.2% 4.49% −0.21
ARCC Ares Capital Corp. Add +0.3% 2.99% −0.28
UTF Cohen & Steers Infrastructur Add +0.8% 4.26% −0.43

Notes & Other Activity Q2 2025 → Q3 2025
PRAIRIELANDS PUB FAC CORP TEX PROJ REV REV BDS PRAIRIELAND DETENTION CT MUNICIPAL BOND · principal Reduce -0.5% 4,900,000 $3.4M
PIMA CNTY ARIZ INDL DEV AUTH ED REV REV BDS GRIFFIN FOUNDATION 2008 A MUNICIPAL BOND · principal Sold out 2,930,000 $2.8Mbefore exit
US TREASURY N/B (T 2.75 08/31/25) FIXED · principal Sold out 485,000 $484Kbefore exit
PIMA CNTY ARIZ INDL DEV AUTH ED REV REV BDS GRIFFIN FOUNDATION 2008 B MUNICIPAL BOND · principal Sold out 475,000 $451Kbefore exit
PORT SEATTLE WASH REV INTER LIEN BDS 2019 5.000 04/01/44 B/E DTD 08/07/ MUNICIPAL BOND · principal New 200,000 $202K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 151$822.7MJGH, HYT, UTF, XAWFX, DELL
Q1 2026 150$784.9MJGH, XOM, HYT, XAWFX, UTF
Q4 2025 118$798.8MGENERAL MNY MKT FUND, JGH, XAWFX, HYT, UTF
Q3 2025 112$799.0MGENERAL MNY MKT FUND, JGH, XAWFX, HYT, DSL
Q2 2025 114$782.8MGENERAL MNY MKT FUND, JGH, XAWFX, DSL, HYT
Q1 2025 112$743.7MGENERAL MNY MKT FUND, JGH, XAWFX, DSL, UTF
Q4 2024 111$734.1MGENERAL MNY MKT FUND, JGH, XAWFX, DSL, HYT
Q3 2024 110$745.3MGENERAL MNY MKT FUND, XAWFX, JGH, DSL, HYT
Q2 2024 102$703.5MGENERAL MNY MKT FUND, JGH, XAWFX, DSL, HYT
Q1 2024 107$678.1MXAWFX, JGH, DSL, HYT, GENERAL MNY MKT FUND