Sanders Morris Harris LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 30, 2025), Sanders Morris Harris LLC reported 160 stock positions worth $418.4 million. Its top holding was Invesco QQQ Trust Series 1 (QQQ) at 29.1% of the portfolio, followed by Blackstone (BX, 18.6%) and Capital Southwest (CSWC, 7.3%). Compared with Q1 2025, it opened 23 new positions, sold out of 139, added to 17 and reduced 60. The biggest buy was a new position in MSC Income Fund (MSIF) and the biggest sale SS SPDR S&P 500 ETF Trust-US (SPY, shares −98%).

Most Recent 13F
Q2 2026
Location
Houston, TX
CIK
0001053994
Portfolio Value
$418.4M (Q2 2025)
SEC Filing
0001085146-25-004316 ↗ filed Jul 30, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $544.7M Q1 2024 Q2 2024: $608.6M Q2 2024 Q3 2024: $602.5M Q3 2024 Q4 2024: $666.0M Q4 2024 Q1 2025: $640.9M Q1 2025 Q2 2025: $418.4M $418.4M Q2 2025 Q3 2025: $748.7M Q3 2025 Q4 2025: $64.7M Q4 2025 Q1 2026: $618.2M Q1 2026 Q2 2026: $172.4M Q2 2026

Holdings 160 stocks · $418.4M
QQQ Invesco QQQ Trust Series 1 29.15% 221,060 $121.9M Reduce -13.2%
BX Blackstone Inc. 18.57% 519,435 $77.7M Reduce -2.3%
CSWC Capital Southwest Corp. 7.32% 1,390,339 $30.6M Reduce -3.0%
EPD Enterprise Products Partners 5.45% 735,070 $22.8M Reduce -12.8%
MSIF MSC Income Fund Inc. 4.16% 1,060,407 $17.4M New
MAIN Main Street Capital Corp. 3.01% 213,340 $12.6M Add +2.9%
AAPL Apple Inc. 1.99% 40,509 $8.3M Reduce -62.8%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 1.65% 204,400 $6.9M Add +6.2%
IWF iShares Russell 1000 Growth 1.46% 14,358 $6.1M Reduce -12.9%
NVDA Nvidia Corp. 1.22% 32,251 $5.1M Reduce -83.2%
LLY Eli Lilly & Co. 1.18% 6,323 $4.9M Reduce -32.6%
VOXR Vox Royalty Corp. 1.06% 1,400,903 $4.4M No change
ELAN Elanco Animal Health Inc. 0.98% 286,285 $4.1M Reduce -16.4%
XOM Exxon Mobil Corp. 0.98% 37,865 $4.1M Reduce -19.7%
RSVR Reservoir Media Inc. 0.93% 507,250 $3.9M Reduce -16.2%
HPK Highpeak Energy Inc. 0.83% 355,146 $3.5M Add +0.5%
JPM JPMorgan Chase & Co. 0.77% 11,089 $3.2M Reduce -44.5%
UBER Uber Technologies Inc. 0.71% 32,000 $3.0M New
PR Permian Resources Corp. Class A 0.71% 218,779 $3.0M Reduce -2.4%
WYNN WYNN Resorts Ltd. 0.57% 25,520 $2.4M New
MSFT Microsoft Corp. 0.51% 4,275 $2.1M Reduce -67.4%
TXO Txo Partners LP 0.43% 119,600 $1.8M New
MULTISENSOR AI HOLDINGS INC 0.43% 2,973,656 $1.8M Add +7.3%
HD Home Depot Inc. 0.39% 4,432 $1.6M No change
TSLA Tesla Inc. 0.39% 5,084 $1.6M Reduce -0.4%
IBIT iShares Bitcoin Trust ETF 0.38% 25,750 $1.6M Add +128.5%
RKLB Rocket Lab Corp. 0.36% 41,700 $1.5M Add +20.4%
BABA Alibaba Group Holding-SP ADR 0.35% 13,000 $1.5M New
V Visa Inc. Class A 0.33% 3,863 $1.4M Reduce -59.5%
DOCU Docusign Inc. 0.32% 17,000 $1.3M Add +496.5%
SHIM Shimmick Corp. 0.31% 749,173 $1.3M Add +0.8%
WMT Walmart Inc. 0.30% 12,624 $1.2M Reduce -13.6%
GOOGL Alphabet Inc. Class A 0.29% 6,795 $1.2M Reduce -90.4%
ET Energy Transfer LP 0.27% 61,962 $1.1M Reduce -27.3%
BLK BlackRock Inc. 0.26% 1,046 $1.1M No change
AMD Advanced Micro Devices 0.26% 7,567 $1.1M Reduce -76.8%
SNYRQ Synergy CHC Corp. 0.25% 373,001 $1.1M Reduce -4.7%
GENK Gen Restaurant Group Inc. 0.25% 269,992 $1.1M Add +35.3%
CADE Cadence Bank 0.24% 31,864 $1.0M No change
AN Autonation Inc. 0.24% 5,000 $993K No change
ARKK ARK Innovation ETF 0.24% 14,025 $986K No change
FIGS Figs Inc. Class A 0.22% 164,500 $928K Reduce -9.9%
GLP Global Partners LP 0.21% 16,500 $870K No change
LIN Linde PLC 0.20% 1,750 $821K No change
GDX Vaneck Gold Miners ETF 0.19% 15,500 $807K New
FIX Comfort Systems USA Inc. 0.19% 1,500 $804K No change
AMZN Amazon.com Inc. 0.19% 3,647 $800K Reduce -78.5%
META Meta Platforms Inc. Class A 0.19% 1,076 $794K Reduce -78.8%
KYN Kayne Anderson Energy Infra 0.19% 61,200 $778K No change
MBLY Mobileye Global Inc. Class A 0.18% 42,500 $764K Add +6.3%
MCD McDonald's Corp. 0.18% 2,600 $760K No change
ETN Eaton Corp. PLC 0.18% 2,100 $750K No change
TRGP Targa Resources Corp. 0.17% 4,200 $731K No change
SERA Sera Prognostics Inc. Class A 0.17% 263,600 $730K Add +179.8%
TIPT Tiptree Inc. 0.17% 30,000 $707K Add +50.0%
CAT Caterpillar Inc. 0.16% 1,775 $689K No change
SNOW Snowflake Inc. 0.16% 3,000 $671K Reduce -53.9%
EXE Expand Energy Corp. 0.16% 5,555 $650K No change
MA Mastercard Inc. Class A 0.15% 1,103 $620K Reduce -76.5%
OKE Oneok Inc. 0.15% 7,529 $615K Reduce -33.0%
ALB Albemarle Corp. 0.14% 9,500 $595K Add +90.0%
WM Waste Management Inc. 0.14% 2,542 $582K No change
MDY State Street SPDR S&P Midcap 0.14% 1,000 $566K Reduce -16.1%
APD Air Products & Chemicals Inc. 0.13% 1,965 $554K No change
PG The Procter & Gamble Co. 0.13% 3,399 $542K Reduce -64.3%
JEPI JPMorgan Equity Premium Inco 0.13% 9,489 $539K Reduce -22.4%
ABBV Abbvie Inc. 0.13% 2,873 $533K Reduce -87.2%
GEL Genesis Energy L.P. 0.13% 30,700 $529K Add +2.3%
HRL Hormel Foods Corp. 0.12% 16,850 $510K No change
MO Altria Group Inc. 0.12% 8,659 $508K Reduce -53.3%
F Ford Motor Co. filed as FORD MTR CO 0.12% 46,000 $499K No change
CNQ Canadian Natural Resources 0.12% 15,600 $490K No change
LOW Lowe's Cos Inc. 0.12% 2,200 $488K Reduce -73.4%
KO The Coca-Cola Co. 0.11% 6,631 $469K No change
BRK.B Berkshire Hathaway Inc. Class B 0.11% 963 $468K Reduce -22.5%
IVV iShares Core S&P 500 ETF 0.11% 735 $456K Reduce -83.7%
JNJ Johnson & Johnson 0.11% 2,945 $450K Reduce -57.6%
MQ Marqeta Inc. 0.11% 76,000 $443K Add +111.1%
SEB Seaboard Corp. 0.10% 149 $426K Reduce -8.0%
SPY SS SPDR S&P 500 ETF Trust-US 0.10% 679 $420K Reduce -97.6%
MSTR Strategy Inc. filed as MICROSTRATEGY INC 0.10% 1,000 $404K New
OMAB Grupo Aeroportuario Cen-ADR 0.09% 3,700 $390K No change
TSCO Tractor Supply Company 0.09% 7,350 $388K No change
VGLT Vanguard Long-Term Treasury 0.09% 6,900 $387K New
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.09% 8,023 $380K No change
NEE Nextera Energy Inc. 0.09% 5,410 $376K No change
VIRT Virtu Financial Inc. Class A 0.09% 8,350 $374K Reduce -10.7%
GVI iShares Intermediate Governm 0.09% 3,500 $374K No change
PAC Grupo Aeroportuario Pac-ADR 0.09% 1,600 $367K No change
VZ Verizon Communications Inc. 0.09% 8,470 $366K Reduce -58.4%
T AT&T Inc. 0.09% 12,359 $358K Reduce -76.3%
IAU iShares Gold Trust 0.08% 5,498 $343K No change
BA The Boeing Co. 0.08% 1,625 $340K Reduce -59.1%
GE General Electric filed as GE AEROSPACE 0.08% 1,299 $334K Reduce -83.7%
CFR Cullen/Frost Bankers Inc. 0.08% 2,500 $321K No change
GBTC Grayscale Bitcoin Trust ETF 0.08% 3,785 $321K Reduce -9.9%
LUNR Intuitive Machines Inc. 0.08% 29,000 $315K Reduce -41.0%
OLPX Olaplex Holdings Inc. 0.08% 225,000 $315K No change
DINO HF Sinclair Corp. 0.07% 7,600 $312K No change
IJR iShares Core S&P Small-Cap E 0.07% 2,835 $310K Add +1.4%

Show all 160 holdings

Other holdings (2): bonds, preferreds, convertibles and warrants · $308K (not counted above)
SecurityClassShares / PrincipalValueChange
RSVRW Reservoir Media-CW26 *W EXP 08/26/202 231,650$290KNo change
VGASW Cenaq Energy Corp. Class A -CW27 *W EXP 02/15/202 107,403$18KNo change

Total filed on the 13F, all lines: $418.7M.

Portfolio Sells Q1 2025 → Q2 2025
SPY SS SPDR S&P 500 ETF Trust-US Reduce -97.6% 0.10% −2.36
NVDA Nvidia Corp. Reduce -83.2% 1.22% −2.07
AAPL Apple Inc. Reduce -62.8% 1.99% −1.80
CTAS Cintas Corp. Sold out 0.00% −1.60
GOOGL Alphabet Inc. Class A Reduce -90.4% 0.29% −1.45
AVGO Broadcom Inc. Sold out 0.00% −1.23
BRK.A Berkshire Hathaway Inc. Class A Sold out 0.00% −1.12
GS Goldman Sachs Group Inc. Sold out 0.00% −1.01
MRVL Marvell Technology Inc. Sold out 0.00% −0.80
IWN iShares Russell 2000 Value E Sold out 0.00% −0.75
DDOG Datadog Inc. Class A Sold out 0.00% −0.73
NOW ServiceNow Inc. Sold out 0.00% −0.70
PANW Palo Alto Networks Inc. Sold out 0.00% −0.70
TGT Target Corp. Sold out 0.00% −0.62
ABBV Abbvie Inc. Reduce -87.2% 0.13% −0.60
QLYS Qualys Inc. Sold out 0.00% −0.56
LRCX Lam Research Corp. Sold out 0.00% −0.48
FYBR Frontier Communications Pare Sold out 0.00% −0.46
GOOG Alphabet Inc. Class C Reduce -92.6% 0.07% −0.45
INTU Intuit Inc. Sold out 0.00% −0.44
ORCL Oracle Corp. Reduce -94.7% 0.05% −0.38
ANET Arista Networks Inc. Sold out 0.00% −0.37
MCK McKesson Corp. Sold out 0.00% −0.35
PM Philip Morris International Reduce -90.5% 0.07% −0.33
MSI Motorola Solutions Inc. Sold out 0.00% −0.32
AMZN Amazon.com Inc. Reduce -78.5% 0.19% −0.32
RSP Invesco S&P 500 Equal Weight Sold out 0.00% −0.29
IVV iShares Core S&P 500 ETF Reduce -83.7% 0.11% −0.29
META Meta Platforms Inc. Class A Reduce -78.8% 0.19% −0.27
MSFT Microsoft Corp. Reduce -67.4% 0.51% −0.27
AMD Advanced Micro Devices Reduce -76.8% 0.26% −0.27
CRM Salesforce Inc. Sold out 0.00% −0.26
MA Mastercard Inc. Class A Reduce -76.5% 0.15% −0.25
ECL Ecolab Inc. Sold out 0.00% −0.23
ADBE Adobe Inc. Sold out 0.00% −0.22
DIS The Walt Disney Co. Sold out 0.00% −0.22
KNSL Kinsale Capital Group Inc. Sold out 0.00% −0.22
KR Kroger Co. Sold out 0.00% −0.21
AMGN Amgen Inc. Sold out 0.00% −0.21
HCA HCA Healthcare Inc. Sold out 0.00% −0.20
RTX RTX Corp. Sold out 0.00% −0.19
WDAY Workday Inc. Class A Sold out 0.00% −0.19
V Visa Inc. Class A Reduce -59.5% 0.33% −0.19
MDLZ Mondelez International Inc. Class A Reduce -84.7% 0.06% −0.19
KLAC KLA Corp. Sold out 0.00% −0.19
LOW Lowe's Cos Inc. Reduce -73.4% 0.12% −0.18
CI The Cigna Group Sold out 0.00% −0.18
QURE Uniqure NV Sold out 0.00% −0.18
GE General Electric Reduce -83.7% 0.08% −0.17
CP Canadian Pacific Kansas City Sold out 0.00% −0.17

Portfolio Buys Q1 2025 → Q2 2025
MSIF MSC Income Fund Inc. New 4.16% +4.16
MAIN Main Street Capital Corp. Add +2.9% 3.01% +1.18
UBER Uber Technologies Inc. New 0.71% +0.71
WYNN WYNN Resorts Ltd. New 0.57% +0.57
TXO Txo Partners LP New 0.43% +0.43
SLB SLB Ltd. Add +6.2% 1.65% +0.40
BABA Alibaba Group Holding-SP ADR New 0.35% +0.35
IBIT iShares Bitcoin Trust ETF Add +128.5% 0.38% +0.29
DOCU Docusign Inc. Add +496.5% 0.32% +0.28
RKLB Rocket Lab Corp. Add +20.4% 0.36% +0.26
GDX Vaneck Gold Miners ETF New 0.19% +0.19
HPK Highpeak Energy Inc. Add +0.5% 0.83% +0.13
SERA Sera Prognostics Inc. Class A Add +179.8% 0.17% +0.12
SHIM Shimmick Corp. Add +0.8% 0.31% +0.10
MSTR Strategy Inc. New 0.10% +0.10
TIPT Tiptree Inc. Add +50.0% 0.17% +0.09
MBLY Mobileye Global Inc. Class A Add +6.3% 0.18% +0.09
VGLT Vanguard Long-Term Treasury New 0.09% +0.09
ALB Albemarle Corp. Add +90.0% 0.14% +0.09
MQ Marqeta Inc. Add +111.1% 0.11% +0.08
GENK Gen Restaurant Group Inc. Add +35.3% 0.25% +0.08
OTIS Otis Worldwide Corp. New 0.07% +0.07
NET Cloudflare Inc. Class A New 0.07% +0.07
SANM Sanmina Corp. New 0.07% +0.07
FLEX Flex Ltd. New 0.06% +0.06
WMB Williams Cos Inc. New 0.06% +0.06
PBH Prestige Consumer Healthcare New 0.06% +0.06
ARM Arm Holdings PLC-ADR New 0.05% +0.05
CSV Carriage Services Inc. New 0.05% +0.05
GEL Genesis Energy L.P. Add +2.3% 0.13% +0.05
CFIT Cambria Fixed Income Trend New 0.05% +0.05
BWXT BWX Technologies Inc. New 0.05% +0.05
PDEC Innovator U.S. Equity Power New 0.05% +0.05
CORZ Core Scientific Inc. New 0.04% +0.04
JYNT The Joint Corp. New 0.03% +0.03
IJR iShares Core S&P Small-Cap E Add +1.4% 0.07% +0.03
SGMOQ Sangamo Therapeutics Inc. New 0.02% +0.02
MULTISENSOR AI HOLDINGS INC Add +7.3% 0.43% +0.02
BHK BlackRock Core Bond Trust Add +7.3% 0.03% +0.01
JYD Jayud Global Logistics Ltd. Class A New 0.00% +0.00

Notes & Other Activity Q1 2025 → Q2 2025
NEXTERA ENERGY INC (NEE 7.234 11/01/27) UNIT 11/01/2027 Sold out 69,865 $3.2Mbefore exit
BOEING CO/THE (BA 6 10/15/27) DEP CONV PFD A Sold out 47,583 $2.8Mbefore exit
PG&E CORP (PCG 6 12/01/27 A) PFD CONV SER A Sold out 6,000 $266Kbefore exit
QBTS.WS D-Wave Quantum Inc. -27 *W EXP 08/05/202 Sold out 16,665 $60Kbefore exit
NIOBW Niocorp Developments Ltd. -28 *W EXP 03/17/202 Sold out 25,000 $4Kbefore exit
CLSKW Cleanspark Inc.-29 *W EXP 12/29/202 Sold out 14,500 $3Kbefore exit
PIIIW P3 Health Partne -CW27 *W EXP 11/19/202 Sold out 46,666 $448before exit
ANGHW Anghami Inc. -CW27 *W EXP 02/03/202 Sold out 33,333 $377before exit
AIIOW NWTN Inc. -CW27 *W EXP 11/11/202 Sold out 10,000 $228before exit
LFLYW Merida Merger Corp. I -CW26 *W EXP 02/04/202 Sold out 15,000 $102before exit

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 75$172.4MMSIF, CSWC, AAPL, BX, XOM
Q1 2026 288$618.2MQQQ, AAPL, NVDA, EPD, CSWC
Q4 2025 34$64.7MQQQ, VOXR, BABA, JBS, SLB
Q3 2025 297$748.7MQQQ, BX, NVDA, CSWC, AAPL
Q2 2025 160$418.4MQQQ, BX, CSWC, EPD, MSIF
Q1 2025 276$640.9MQQQ, BX, CSWC, EPD, AAPL
Q4 2024 280$666.0MQQQ, BX, AAPL, EPD, NVDA
Q3 2024 273$602.5MQQQ, BX, AAPL, NVDA, EPD
Q2 2024 272$608.6MQQQ, BX, AAPL, NVDA, CSWC
Q1 2024 260$544.7MQQQ, BX, AAPL, NVDA, CSWC