Penn Davis McFarland Inc.

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 21, 2026), Penn Davis McFarland Inc. reported 75 stock positions worth $1.0 billion. Its top holding was Alphabet Class C (GOOG) at 12.1% of the portfolio, followed by Nvidia (NVDA, 8.5%) and Kinder Morgan (KMI, 5.6%). Compared with Q4 2025, it opened 3 new positions, sold out of 3, added to 1 and reduced 54. The biggest buy was a new position in Salesforce (CRM) and the biggest sale Alphabet Class A (GOOGL, shares −36%).

Most Recent 13F
Q2 2026
Location
DALLAS, TX
CIK
0001108893
Portfolio Value
$1.0B (Q1 2026)
SEC Filing
0001108893-26-000003 ↗ filed Apr 21, 2026

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $643.6M Q1 2024 Q2 2024: $646.1M Q2 2024 Q3 2024: $888.0M Q3 2024 Q4 2024: $917.7M Q4 2024 Q1 2025: $844.2M Q1 2025 Q2 2025: $887.9M Q2 2025 Q3 2025: $967.6M Q3 2025 Q4 2025: $1.0B Q4 2025 Q1 2026: $1.0B $1.0B Q1 2026 Q2 2026: $1.1B Q2 2026

Holdings 75 stocks · $1.0B
GOOG Alphabet Inc. Class C 12.10% 431,240 $123.7M Reduce -6.6%
NVDA Nvidia Corp. 8.50% 498,338 $86.9M Reduce -0.3%
KMI Kinder Morgan Inc. 5.60% 1,707,786 $57.3M Reduce -1.0%
SHEL Shell PLC-ADR 4.52% 497,080 $46.2M Reduce -0.9%
AAPL Apple Inc. 4.45% 179,438 $45.5M Reduce -1.4%
EPD Enterprise Products Partners 4.35% 1,175,998 $44.5M Reduce -0.4%
ROIV Roivant Sciences Ltd. 4.32% 1,592,623 $44.1M Reduce -14.3%
UNH Unitedhealth Group Inc. 3.61% 136,346 $36.9M Reduce -0.7%
RTX RTX Corp. 3.52% 186,641 $36.0M Reduce -3.3%
BUD Anheuser-Busch Inbev-SPN ADR 3.29% 485,264 $33.7M Reduce -0.3%
LMT Lockheed Martin Corp. 3.28% 55,524 $33.6M Reduce -0.5%
GOOGL Alphabet Inc. Class A 3.08% 109,454 $31.5M Reduce -36.4%
PYPL PayPal Holdings Inc. 3.00% 677,417 $30.6M Reduce -0.5%
BSM Black Stone Minerals LP 2.90% 1,959,588 $29.6M Reduce -0.4%
CRM Salesforce Inc. 2.84% 155,266 $29.0M New
QCOM Qualcomm Inc. 2.38% 189,176 $24.4M Reduce -0.5%
LVS Las Vegas Sands Corp. 2.12% 401,434 $21.6M Reduce -0.9%
EVVTY Evolution AB-ADR 2.09% 343,506 $21.4M Reduce -0.3%
BMY Bristol-Myers Squibb Co. 2.00% 336,264 $20.4M Reduce -0.6%
CHKP Check Point Software Tech 1.71% 122,108 $17.4M Reduce -0.3%
SFM Sprouts Farmers Market Inc. 1.68% 223,283 $17.2M Reduce -0.2%
MTCH Match Group Inc. 1.58% 524,758 $16.1M Reduce -0.1%
WM Waste Management Inc. 1.27% 56,580 $13.0M Reduce -0.3%
XYL Xylem Inc. 1.12% 95,672 $11.4M Reduce -0.4%
MSFT Microsoft Corp. 1.03% 28,374 $10.5M Reduce -0.3%
TGT Target Corp. 1.00% 84,571 $10.3M Reduce -0.1%
JNJ Johnson & Johnson 0.99% 41,344 $10.1M Reduce -0.2%
KMB Kimberly-Clark Corp. 0.82% 87,070 $8.4M Reduce -0.1%
TXN Texas Instruments Inc. 0.79% 41,567 $8.1M No change
VZ Verizon Communications Inc. 0.65% 133,324 $6.7M Reduce -0.2%
ABBV Abbvie Inc. 0.65% 30,464 $6.6M No change
AMGN Amgen Inc. 0.65% 18,766 $6.6M Reduce -0.3%
MCD McDonald's Corp. 0.64% 21,017 $6.5M Reduce -0.1%
KO The Coca-Cola Co. 0.61% 82,523 $6.3M Reduce -0.1%
UPS United Parcel Service Class B 0.55% 57,113 $5.6M Reduce -0.1%
ACN Accenture PLC Class A 0.50% 25,689 $5.1M Reduce -0.4%
PFE Pfizer Inc. 0.47% 170,361 $4.8M Reduce -0.6%
PEP Pepsico Inc. 0.44% 29,133 $4.5M Reduce -0.1%
MTD Mettler-Toledo International 0.40% 3,223 $4.1M Reduce -0.1%
PG The Procter & Gamble Co. 0.37% 26,448 $3.8M No change
NKE Nike Inc. Class B 0.32% 61,936 $3.3M Reduce -0.2%
ABT Abbott Laboratories 0.31% 31,215 $3.2M No change
AXP American Express Co. 0.31% 10,546 $3.2M Reduce -0.3%
GLD SPDR Gold Shares 0.31% 7,283 $3.1M Reduce -2.5%
SBUX Starbucks Corp. 0.26% 29,291 $2.6M Reduce -0.2%
HON Honeywell International Inc. 0.26% 11,538 $2.6M Reduce -0.1%
SIRI Sirius XM Holdings Inc. 0.25% 109,303 $2.5M Reduce -19.8%
LLY Eli Lilly & Co. 0.24% 2,695 $2.5M Reduce -2.0%
AMZN Amazon.com Inc. 0.23% 11,422 $2.4M Reduce -2.5%
USPH U.S. Physical Therapy Inc. 0.22% 29,713 $2.2M Reduce -0.3%
MTDR Matador Resources Co. 0.19% 30,000 $1.9M No change
CSCO Cisco Systems Inc. 0.15% 19,864 $1.5M No change
FCFS Firstcash Holdings Inc. 0.13% 7,220 $1.4M No change
XOM Exxon Mobil Corp. 0.11% 6,894 $1.2M Reduce -16.9%
V Visa Inc. Class A 0.10% 3,350 $1.0M No change
CAT Caterpillar Inc. 0.10% 1,400 $992K Reduce -12.5%
VOO Vanguard S&P 500 ETF 0.07% 1,168 $698K Add +4.7%
TSLA Tesla Inc. 0.06% 1,715 $638K No change
JPM JPMorgan Chase & Co. 0.06% 2,150 $632K Reduce -9.7%
DMLP Dorchester Minerals LP 0.06% 22,530 $611K Reduce -0.9%
PAYX Paychex Inc. 0.05% 5,881 $542K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.04% 583 $379K Reduce -31.9%
ITOT iShares Core S&P Total U.S. 0.03% 2,500 $356K No change
HD Home Depot Inc. 0.03% 1,038 $341K Reduce -0.9%
WMT Walmart Inc. 0.03% 2,720 $338K No change
META Meta Platforms Inc. Class A 0.03% 587 $336K Reduce -10.7%
BRK.B Berkshire Hathaway Inc. Class B 0.03% 645 $309K No change
TRV The Travelers Cos Inc. 0.03% 933 $272K No change
NFLX Netflix Inc. 0.02% 2,650 $255K No change
SLV iShares Silver Trust 0.02% 3,550 $242K Reduce -11.3%
TPL Texas Pacific Land Corp. 0.02% 450 $214K New
AVGO Broadcom Inc. 0.02% 680 $210K Reduce -11.7%
GEV GE Vernova Inc. 0.02% 240 $209K New
CLNN Clene Inc. 0.01% 11,000 $54K No change
GAME Gamesquare Hldgs Inc. 0.00% 10,000 $3K No change

Portfolio Sells Q4 2025 → Q1 2026
GOOGL Alphabet Inc. Class A Reduce -36.4% 3.08% −2.08
GOOG Alphabet Inc. Class C Reduce -6.6% 12.10% −1.77
PYPL PayPal Holdings Inc. Reduce -0.5% 3.00% −0.81
UNH Unitedhealth Group Inc. Reduce -0.7% 3.61% −0.73
QCOM Qualcomm Inc. Reduce -0.5% 2.38% −0.73
CHKP Check Point Software Tech Reduce -0.3% 1.71% −0.47
NVDA Nvidia Corp. Reduce -0.3% 8.50% −0.43
LVS Las Vegas Sands Corp. Reduce -0.9% 2.12% −0.41
MSFT Microsoft Corp. Reduce -0.3% 1.03% −0.29
AAPL Apple Inc. Reduce -1.4% 4.45% −0.28
ACN Accenture PLC Class A Reduce -0.4% 0.50% −0.16
EVVTY Evolution AB-ADR Reduce -0.3% 2.09% −0.15
XYL Xylem Inc. Reduce -0.4% 1.12% −0.13
AXP American Express Co. Reduce -0.3% 0.31% −0.06
NKE Nike Inc. Class B Reduce -0.2% 0.32% −0.06
MTCH Match Group Inc. Reduce -0.1% 1.58% −0.05
LLY Eli Lilly & Co. Reduce -2.0% 0.24% −0.04
MTD Mettler-Toledo International Reduce -0.1% 0.40% −0.03
AMZN Amazon.com Inc. Reduce -2.5% 0.23% −0.03
TOST Toast Inc. Class A Sold out 0.00% −0.03
SFM Sprouts Farmers Market Inc. Reduce -0.2% 1.68% −0.02
ORCL Oracle Corp. Sold out 0.00% −0.02
KMB Kimberly-Clark Corp. Reduce -0.1% 0.82% −0.02
DIS The Walt Disney Co. Sold out 0.00% −0.02
SPY SS SPDR S&P 500 ETF Trust-US Reduce -31.9% 0.04% −0.02
SIRI Sirius XM Holdings Inc. Reduce -19.8% 0.25% −0.01
JPM JPMorgan Chase & Co. Reduce -9.7% 0.06% −0.01
META Meta Platforms Inc. Class A Reduce -10.7% 0.03% −0.01
USPH U.S. Physical Therapy Inc. Reduce -0.3% 0.22% −0.01
AVGO Broadcom Inc. Reduce -11.7% 0.02% −0.00
HD Home Depot Inc. Reduce -0.9% 0.03% −0.00
SLV iShares Silver Trust Reduce -11.3% 0.02% −0.00
UPS United Parcel Service Class B Reduce -0.1% 0.55% +0.01
CAT Caterpillar Inc. Reduce -12.5% 0.10% +0.01
DMLP Dorchester Minerals LP Reduce -0.9% 0.06% +0.01
XOM Exxon Mobil Corp. Reduce -16.9% 0.11% +0.02
SBUX Starbucks Corp. Reduce -0.2% 0.26% +0.02
MCD McDonald's Corp. Reduce -0.1% 0.64% +0.02
GLD SPDR Gold Shares Reduce -2.5% 0.31% +0.02
HON Honeywell International Inc. Reduce -0.1% 0.26% +0.04
PEP Pepsico Inc. Reduce -0.1% 0.44% +0.04
AMGN Amgen Inc. Reduce -0.3% 0.65% +0.06
PFE Pfizer Inc. Reduce -0.6% 0.47% +0.06
KO The Coca-Cola Co. Reduce -0.1% 0.61% +0.06
WM Waste Management Inc. Reduce -0.3% 1.27% +0.08
RTX RTX Corp. Reduce -3.3% 3.52% +0.13
VZ Verizon Communications Inc. Reduce -0.2% 0.65% +0.13
JNJ Johnson & Johnson Reduce -0.2% 0.99% +0.17
TGT Target Corp. Reduce -0.1% 1.00% +0.21
BMY Bristol-Myers Squibb Co. Reduce -0.6% 2.00% +0.25

Portfolio Buys Q4 2025 → Q1 2026
CRM Salesforce Inc. New 2.84% +2.84
TPL Texas Pacific Land Corp. New 0.02% +0.02
GEV GE Vernova Inc. New 0.02% +0.02
VOO Vanguard S&P 500 ETF Add +4.7% 0.07% +0.00

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 79$1.1BGOOG, NVDA, UNH, ROIV, KMI
Q1 2026 75$1.0BGOOG, NVDA, KMI, SHEL, AAPL
Q4 2025 75$1.0BGOOG, NVDA, GOOGL, AAPL, KMI
Q3 2025 76$967.6MGOOG, NVDA, KMI, UNH, AAPL
Q2 2025 76$887.9MGOOG, NVDA, KMI, PYPL, UNH
Q1 2025 74$844.2MGOOG, NVDA, KMI, AAPL, EPD
Q4 2024 80$917.7MGOOG, NVDA, PYPL, KMI, AAPL
Q3 2024 76$888.0MGOOG, NVDA, PYPL, AAPL, KMI
Q2 2024 44$646.1MGOOG, QCOM, SHEL, AAPL, EPD
Q1 2024 46$643.6MGOOG, PYPL, EPD, SHEL, QCOM