McGowan Group Asset Management, Inc.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 29, 2026), McGowan Group Asset Management, Inc. reported 118 stock positions worth $798.8 million. Its top holding was General MNY MKT Fund at 12.0% of the portfolio, followed by Nuveen Global High Income (JGH, 5.9%) and Alliancebernstein GL Hi (XAWFX, 5.0%). Compared with Q3 2025, it opened 12 new positions, sold out of 6, added to 65 and reduced 27. The biggest buy was a new position in Flowserve (FLS) and the biggest sale an exit from Ares Capital (ARCC).

Most Recent 13F
Q2 2026
Location
DALLAS, TX
CIK
0001633227
Portfolio Value
$798.8M (Q4 2025)
SEC Filing
0001633227-26-000001 ↗ filed Jan 29, 2026

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 Q3 2025 Q4 2025: $798.8M $798.8M Q4 2025 Q1 2026: $784.9M Q1 2026 Q2 2026: $822.7M Q2 2026

Holdings 118 stocks · $798.8M
GENERAL MNY MKT FUND 12.02% 96,011,095 $96.0M Reduce -7.6%
JGH Nuveen Global High Income 5.92% 3,749,705 $47.3M Add +0.0%
XAWFX Alliancebernstein GL Hi Inc. 4.98% 3,718,331 $39.7M Reduce -0.5%
HYT BlackRock Corp. Hi YLD 4.23% 3,797,228 $33.8M Add +0.5%
UTF Cohen & Steers Infrastructur 4.17% 1,380,626 $33.3M Add +0.7%
DSL Doubleline Income Solutions 4.09% 2,898,929 $32.7M Reduce -0.3%
BTI British American Tob-SP ADR 3.96% 559,252 $31.7M Add +0.4%
XOM Exxon Mobil Corp. 3.79% 251,373 $30.3M Add +1.0%
PAGP Plains GP Holdings LP 3.21% 1,340,808 $25.7M Add +0.7%
FLS Flowserve Corp. 3.17% 365,386 $25.4M New
LLY Eli Lilly & Co. 2.89% 21,458 $23.1M Reduce -0.5%
BWXT BWX Technologies Inc. 2.78% 128,446 $22.2M Reduce -0.3%
MMM 3M Co. 2.57% 128,108 $20.5M Reduce -0.3%
XEVTX Eaton Vance Tax-Adv DVD Inc. 2.47% 783,596 $19.7M Reduce -0.5%
GSST Goldman Sachs Ultra Short Bo 2.33% 368,597 $18.6M Add +9.7%
DELL Dell Technologies -C 2.09% 132,829 $16.7M Add +0.1%
XNEAX Nuveen Amt-FR QLTY Muni Inc. 2.05% 1,410,373 $16.4M Add +4.5%
NAD Nuveen Quality Municipal Inc. 2.05% 1,362,021 $16.4M Add +4.5%
CSQ Calamos Strat TTL RTRN FND 1.92% 797,580 $15.3M Add +0.6%
ET Energy Transfer LP 1.86% 899,349 $14.8M Add +2.1%
UNM Unum Group 1.84% 189,347 $14.7M Reduce -0.2%
ETG Eaton Vance T/A GL DVD Incm 1.80% 623,768 $14.4M Reduce -0.0%
EBAY eBay Inc. 1.67% 153,521 $13.4M Reduce -0.0%
CQP Cheniere Energy Partners LP 1.61% 240,859 $12.9M Add +0.5%
EPD Enterprise Products Partners 1.49% 371,150 $11.9M Add +0.5%
EQT Eqt Corp. 1.41% 210,348 $11.3M New
GOOGL Alphabet Inc. Class A 1.27% 32,288 $10.1M Add +3.3%
V Visa Inc. Class A 1.11% 25,286 $8.9M Add +0.7%
MSFT Microsoft Corp. 1.03% 17,088 $8.3M Add +1.9%
ALL Allstate Corp. 0.92% 35,370 $7.4M Add +0.6%
CVX Chevron Corp. 0.79% 41,280 $6.3M Reduce -1.4%
TOST Toast Inc. Class A 0.79% 176,622 $6.3M Add +0.2%
NVG Nuveen Amt-FR Muni CRDT 0.76% 478,625 $6.1M Add +7.6%
TXN Texas Instruments Inc. 0.72% 33,284 $5.8M Add +0.0%
NZF Nuveen Municipal Credit Inc. 0.71% 452,589 $5.7M Add +8.7%
AAPL Apple Inc. 0.66% 19,257 $5.2M Add +1.2%
AMZN Amazon.com Inc. 0.61% 21,002 $4.8M Add +1.1%
VFLO Victoryshares Free Cash Flow 0.54% 109,140 $4.3M New
TMUS T-Mobile US Inc. 0.50% 19,855 $4.0M Add +1.7%
KYN Kayne Anderson Energy Infra 0.48% 307,232 $3.8M Add +0.1%
ENVX Enovix Corp. 0.35% 384,123 $2.8M Add +6.0%
EXE Expand Energy Corp. 0.33% 24,073 $2.7M Add +0.4%
PANW Palo Alto Networks Inc. 0.33% 14,144 $2.6M Add +0.8%
CPA Copa Holdings SA Class A 0.31% 20,209 $2.4M Add +11.4%
UAMY United States Antimony Corp. 0.28% 441,435 $2.2M New
STKS One Group Hospitality Inc. filed as THE ONE GROUP HOSPITALITY IN 0.21% 945,000 $1.7M Add +12.7%
BRK.B Berkshire Hathaway Inc. Class B 0.20% 3,210 $1.6M Add +0.1%
PG The Procter & Gamble Co. 0.19% 10,765 $1.5M Reduce -0.0%
MA Mastercard Inc. Class A 0.18% 2,561 $1.5M Add +0.9%
APH Amphenol Corp. Class A 0.16% 9,665 $1.3M Add +0.0%
LNG Cheniere Energy Inc. 0.16% 6,428 $1.2M Add +0.1%
KLAC KLA Corp. 0.14% 940 $1.1M No change
NVDA Nvidia Corp. 0.14% 5,929 $1.1M Add +0.3%
BIL SS SPDR BB 1-3M T-Bill ETF 0.13% 11,247 $1.0M Reduce -14.1%
DE Deere & Co. 0.12% 2,005 $934K Reduce -0.3%
JNJ Johnson & Johnson 0.12% 4,450 $921K Reduce -4.7%
CAT Caterpillar Inc. 0.11% 1,593 $913K Add +0.1%
PM Philip Morris International 0.11% 5,660 $908K Reduce -3.2%
WMT Walmart Inc. 0.11% 8,070 $899K Add +3.1%
RLGT Radiant Logistics Inc. 0.11% 141,631 $897K Add +19.2%
PLTR Palantir Technologies Inc. Class A 0.10% 4,711 $837K Reduce -2.9%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.10% 2,693 $798K Add +1.2%
F Ford Motor Co. filed as FORD MTR CO 0.10% 60,162 $789K Reduce -7.5%
AMLP Alerian MLP ETF 0.09% 16,060 $755K Add +0.0%
ORCL Oracle Corp. 0.09% 3,820 $745K Reduce -2.8%
TSLA Tesla Inc. 0.09% 1,647 $741K Reduce -31.1%
AMAT Applied Materials Inc. 0.09% 2,871 $738K No change
MO Altria Group Inc. 0.09% 12,761 $736K Add +0.5%
META Meta Platforms Inc. Class A 0.09% 1,109 $732K Add +6.9%
COP Conocophillips 0.09% 7,595 $711K No change
CW Curtiss-Wright Corp. 0.09% 1,275 $703K No change
CG The Carlyle Group Inc. 0.08% 11,321 $669K Reduce -1.3%
RTX RTX Corp. 0.07% 3,178 $583K Add +6.8%
FCX Freeport-McMoran Inc. 0.06% 10,020 $509K Add +0.2%
VZ Verizon Communications Inc. 0.06% 12,380 $504K Reduce -4.5%
ACN Accenture PLC Class A 0.06% 1,815 $487K No change
WMB Williams Cos Inc. 0.06% 8,034 $483K Add +0.7%
SO The Southern Co. 0.05% 4,872 $425K Add +0.6%
QCOM Qualcomm Inc. 0.05% 2,424 $415K Add +0.0%
NOC Northrop Grumman Corp. 0.05% 725 $413K No change
CI The Cigna Group 0.05% 1,463 $403K Add +0.1%
IUSV iShares Core S&P U.S. Value 0.05% 3,893 $399K Add +0.5%
LYB Lyondellbasell Indu Class A 0.05% 9,139 $396K New
CE Celanese Corp. 0.05% 9,330 $394K New
SOUN Soundhound AI Inc. Class A 0.05% 37,597 $375K No change
DUK Duke Energy Corp. 0.05% 3,166 $371K Add +0.1%
GDX Vaneck Gold Miners ETF 0.04% 4,049 $347K Reduce -21.1%
DLR Digital Realty Trust Inc. 0.04% 2,230 $345K No change
JPM JPMorgan Chase & Co. 0.04% 1,042 $336K Reduce -1.2%
CRK Comstock Resources Inc. 0.04% 13,845 $321K No change
MELI MercadoLibre Inc. 0.04% 158 $318K Add +5.3%
MLPA Global X MLP ETF 0.04% 6,431 $311K Add +28.7%
CSCO Cisco Systems Inc. 0.04% 4,006 $309K Add +1.4%
HMC Honda Motor Co. Ltd.-Spons ADR 0.04% 10,350 $305K Add +0.6%
VOC Voc Energy Trust 0.04% 111,280 $300K Add +3.0%
PWR Quanta Services Inc. 0.04% 701 $296K No change
VTI VG Morningstar TS MKT ETF-US 0.04% 865 $290K No change
AVGO Broadcom Inc. 0.04% 837 $290K Add +20.1%
PEP Pepsico Inc. 0.04% 2,002 $287K Add +0.7%
ORLY O'reilly Automotive Inc. 0.03% 3,060 $279K Add +8.5%

Show all 118 holdings

Other holdings (8): bonds, preferreds, convertibles and warrants · $7.2M (not counted above)
SecurityClassShares / PrincipalValueChange
PRAIRIELANDS PUB FAC CORP TEX PROJ REV REV BDS PRAIRIELAND DETENTION CT MUNICIPAL BOND · principal 4,900,000$3.4MNo change
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$616KNo 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$555KNo change
FANNIN CNTY TEX PUB FAC CORP REV REF BDS DETENTION FAC PROJ 2014 MUNICIPAL BOND · principal 540,000$429KNo change
SILICON VY TOB SECURITIZATION AUTH CALIF TOB SETTLEMENT REV TOBACCO MUNICIPAL BOND · principal 3,500,000$317KNo change
TOBACCO SETTLEMENT FING CORP VA ASSET BACKED BDS 2007C MUNICIPAL BOND · principal 830,000$210KNo change
PORT SEATTLE WASH REV INTER LIEN BDS 2019 5.000 04/01/44 B/E DTD 08/07/ MUNICIPAL BOND · principal 200,000$203KNo change

Total filed on the 13F, all lines: $806.0M.

Portfolio Sells Q3 2025 → Q4 2025
ARCC Ares Capital Corp. Sold out 0.00% −2.99
PR Permian Resources Corp. Class A Sold out 0.00% −1.51
GENERAL MNY MKT FUND Reduce -7.6% 12.02% −0.99
FANG Diamondback Energy Inc. Sold out 0.00% −0.50
DSL Doubleline Income Solutions Reduce -0.3% 4.09% −0.38
XAWFX Alliancebernstein GL Hi Inc. Reduce -0.5% 4.98% −0.27
BWXT BWX Technologies Inc. Reduce -0.3% 2.78% −0.19
EBAY eBay Inc. Reduce -0.0% 1.67% −0.07
ORCL Oracle Corp. Reduce -2.8% 0.09% −0.05
TSLA Tesla Inc. Reduce -31.1% 0.09% −0.04
AVAV Aerovironment Inc. Sold out 0.00% −0.03
CVX Chevron Corp. Reduce -1.4% 0.79% −0.03
OGE Oge Energy Corp. Sold out 0.00% −0.03
MDLZ Mondelez International Inc. Class A Sold out 0.00% −0.03
BIL SS SPDR BB 1-3M T-Bill ETF Reduce -14.1% 0.13% −0.02
PG The Procter & Gamble Co. Reduce -0.0% 0.19% −0.01
UNM Unum Group Reduce -0.2% 1.84% −0.01
VZ Verizon Communications Inc. Reduce -4.5% 0.06% −0.01
CG The Carlyle Group Inc. Reduce -1.3% 0.08% −0.01
PLTR Palantir Technologies Inc. Class A Reduce -2.9% 0.10% −0.01
GDX Vaneck Gold Miners ETF Reduce -21.1% 0.04% −0.01
PM Philip Morris International Reduce -3.2% 0.11% −0.01
GE General Electric Reduce -12.2% 0.03% −0.00
GD General Dynamics Corp. Reduce -3.4% 0.03% −0.00
TSM Taiwan Semiconductor-SP ADR Reduce -7.8% 0.03% +0.00
JPM JPMorgan Chase & Co. Reduce -1.2% 0.04% +0.00
F Ford Motor Co. Reduce -7.5% 0.10% +0.00
DE Deere & Co. Reduce -0.3% 0.12% +0.00
JNJ Johnson & Johnson Reduce -4.7% 0.12% +0.01
XEVTX Eaton Vance Tax-Adv DVD Inc. Reduce -0.5% 2.47% +0.06
MMM 3M Co. Reduce -0.3% 2.57% +0.07
ETG Eaton Vance T/A GL DVD Incm Reduce -0.0% 1.80% +0.15
LLY Eli Lilly & Co. Reduce -0.5% 2.89% +0.83

Portfolio Buys Q3 2025 → Q4 2025
FLS Flowserve Corp. New 3.17% +3.17
EQT Eqt Corp. New 1.41% +1.41
VFLO Victoryshares Free Cash Flow New 0.54% +0.54
GOOGL Alphabet Inc. Class A Add +3.3% 1.27% +0.31
UAMY United States Antimony Corp. New 0.28% +0.28
XOM Exxon Mobil Corp. Add +1.0% 3.79% +0.27
BTI British American Tob-SP ADR Add +0.4% 3.96% +0.26
GSST Goldman Sachs Ultra Short Bo Add +9.7% 2.33% +0.20
PAGP Plains GP Holdings LP Add +0.7% 3.21% +0.17
NAD Nuveen Quality Municipal Inc. Add +4.5% 2.05% +0.14
XNEAX Nuveen Amt-FR QLTY Muni Inc. Add +4.5% 2.05% +0.13
NVG Nuveen Amt-FR Muni CRDT Add +7.6% 0.76% +0.07
NZF Nuveen Municipal Credit Inc. Add +8.7% 0.71% +0.06
LYB Lyondellbasell Indu Class A New 0.05% +0.05
CE Celanese Corp. New 0.05% +0.05
AAPL Apple Inc. Add +1.2% 0.66% +0.05
EPD Enterprise Products Partners Add +0.5% 1.49% +0.04
V Visa Inc. Class A Add +0.7% 1.11% +0.04
AMZN Amazon.com Inc. Add +1.1% 0.61% +0.04
CPA Copa Holdings SA Class A Add +11.4% 0.31% +0.04
GT Goodyear Tire & Rubber Co. New 0.03% +0.03
INTC Intel Corp. New 0.03% +0.03
CMI Cummins Inc. New 0.03% +0.03
NAC Nuveen Ca QLTY Muni Inc. New 0.03% +0.03
GLD SPDR Gold Shares New 0.03% +0.03
CB Chubb Ltd. New 0.03% +0.03
RLGT Radiant Logistics Inc. Add +19.2% 0.11% +0.02
CAT Caterpillar Inc. Add +0.1% 0.11% +0.02
FCX Freeport-McMoran Inc. Add +0.2% 0.06% +0.01
EXE Expand Energy Corp. Add +0.4% 0.33% +0.01
APH Amphenol Corp. Class A Add +0.0% 0.16% +0.01
WMT Walmart Inc. Add +3.1% 0.11% +0.01
RTX RTX Corp. Add +6.8% 0.07% +0.01
MLPA Global X MLP ETF Add +28.7% 0.04% +0.01
AVGO Broadcom Inc. Add +20.1% 0.04% +0.01
IBM Intl Business Machines Corp. Add +1.2% 0.10% +0.01
TJX TJX Companies Inc. Add +13.3% 0.03% +0.01
VGT Vanguard Info Tech ETF Add +18.6% 0.03% +0.01
CSCO Cisco Systems Inc. Add +1.4% 0.04% +0.00
CSQ Calamos Strat TTL RTRN FND Add +0.6% 1.92% +0.00
MA Mastercard Inc. Class A Add +0.9% 0.18% +0.00
IUSV iShares Core S&P U.S. Value Add +0.5% 0.05% +0.00
QCOM Qualcomm Inc. Add +0.0% 0.05% +0.00
PEP Pepsico Inc. Add +0.7% 0.04% +0.00
KYN Kayne Anderson Energy Infra Add +0.1% 0.48% +0.00
NVDA Nvidia Corp. Add +0.3% 0.14% +0.00
AMLP Alerian MLP ETF Add +0.0% 0.09% +0.00
BRK.B Berkshire Hathaway Inc. Class B Add +0.1% 0.20% +0.00
TPZ Tort Electf Infra ETF-Usd Inc. Add +0.3% 0.03% −0.00
LHX L3HARRIS Technologies Inc. Add +0.1% 0.03% −0.00

Notes & Other Activity Q3 2025 → Q4 2025
US TREASURY N/B (T 4.25 10/15/25) TREASURY · principal Sold out 330,000 $330Kbefore exit

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