Sanders Morris Harris LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 7, 2025), Sanders Morris Harris LLC reported 297 stock positions worth $748.7 million. Its top holding was Invesco QQQ Trust Series 1 (QQQ) at 20.4% of the portfolio, followed by Blackstone (BX, 12.2%) and Nvidia (NVDA, 4.7%). Compared with Q2 2025, it opened 159 new positions, sold out of 22, added to 64 and reduced 23. The biggest buy was Nvidia (NVDA, shares +479%) and the biggest sale Capital Southwest (CSWC, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- Houston, TX
- CIK
- 0001053994
- Portfolio Value
- $748.7M (Q3 2025)
- SEC Filing
- 0001085146-25-005809 ↗ filed Oct 7, 2025
Holdings Value
Holdings 297 stocks · $748.7M
| QQQ Invesco QQQ Trust Series 1 | 20.42% | 254,638 | $152.9M | Add +15.2% |
| BX Blackstone Inc. | 12.17% | 533,400 | $91.1M | Add +2.7% |
| NVDA Nvidia Corp. | 4.66% | 186,855 | $34.9M | Add +479.4% |
| CSWC Capital Southwest Corp. | 4.00% | 1,368,607 | $29.9M | Reduce -1.6% |
| AAPL Apple Inc. | 3.87% | 113,868 | $29.0M | Add +181.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 3.51% | 39,405 | $26.3M | Add +5703.4% |
| EPD Enterprise Products Partners | 2.95% | 706,820 | $22.1M | Reduce -3.8% |
| MSIF MSC Income Fund Inc. | 2.00% | 1,138,543 | $14.9M | Add +7.4% |
| MAIN Main Street Capital Corp. | 1.73% | 203,832 | $13.0M | Reduce -4.5% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 1.52% | 330,550 | $11.4M | Add +61.7% |
| CTAS Cintas Corp. | 1.35% | 49,220 | $10.1M | New |
| AVGO Broadcom Inc. | 0.91% | 20,713 | $6.8M | New |
| BRK.A Berkshire Hathaway Inc. Class A | 0.91% | 9 | $6.8M | New |
| MSFT Microsoft Corp. | 0.86% | 12,363 | $6.4M | Add +189.2% |
| VOXR Vox Royalty Corp. | 0.80% | 1,400,903 | $6.0M | No change |
| JPM JPMorgan Chase & Co. | 0.79% | 18,730 | $5.9M | Add +68.9% |
| LLY Eli Lilly & Co. | 0.78% | 7,606 | $5.8M | Add +20.3% |
| LRCX Lam Research Corp. | 0.76% | 42,420 | $5.7M | New |
| AMD Advanced Micro Devices | 0.74% | 34,222 | $5.5M | Add +352.3% |
| ORCL Oracle Corp. | 0.73% | 19,460 | $5.5M | Add +1798.5% |
| CORZ Core Scientific Inc. | 0.69% | 308,855 | $5.2M | Add +2786.5% |
| QURE Uniqure NV | 0.68% | 87,054 | $5.1M | New |
| XOM Exxon Mobil Corp. | 0.67% | 44,458 | $5.0M | Add +17.4% |
| ABBV Abbvie Inc. | 0.67% | 21,512 | $5.0M | Add +648.8% |
| GOOG Alphabet Inc. Class C | 0.65% | 19,857 | $4.8M | Add +1183.6% |
| CRM Salesforce Inc. | 0.62% | 9,061 | $4.6M | New |
| GS Goldman Sachs Group Inc. | 0.61% | 5,782 | $4.6M | New |
| META Meta Platforms Inc. Class A | 0.52% | 5,278 | $3.9M | Add +390.5% |
| RSVR Reservoir Media Inc. | 0.49% | 450,000 | $3.7M | Reduce -11.3% |
| TXO Txo Partners LP | 0.48% | 230,522 | $3.6M | Add +92.7% |
| AMZN Amazon.com Inc. | 0.47% | 16,010 | $3.5M | Add +339.0% |
| V Visa Inc. Class A | 0.41% | 9,102 | $3.1M | Add +135.6% |
| FYBR Frontier Communications Pare | 0.41% | 81,777 | $3.1M | New |
| TGT Target Corp. | 0.40% | 33,291 | $3.0M | New |
| INTU Intuit Inc. | 0.39% | 4,271 | $2.9M | New |
| JBS JBS NV-A | 0.39% | 194,825 | $2.9M | New |
| PR Permian Resources Corp. Class A | 0.38% | 224,079 | $2.9M | Add +2.4% |
| IVV iShares Core S&P 500 ETF | 0.37% | 4,129 | $2.8M | Add +461.8% |
| COST Costco Wholesale Corp. | 0.36% | 2,879 | $2.7M | New |
| HPK Highpeak Energy Inc. | 0.35% | 374,771 | $2.6M | Add +5.5% |
| MCK McKesson Corp. | 0.35% | 3,370 | $2.6M | New |
| PM Philip Morris International | 0.34% | 15,863 | $2.6M | Add +933.4% |
| MA Mastercard Inc. Class A | 0.34% | 4,496 | $2.6M | Add +307.6% |
| ALAB Astera Labs Inc. | 0.33% | 12,595 | $2.5M | New |
| ETNB 89BIO Inc. | 0.32% | 163,914 | $2.4M | New |
| GE General Electric filed as GE AEROSPACE | 0.32% | 7,973 | $2.4M | Add +513.8% |
| MRUS Merus NV | 0.31% | 24,870 | $2.3M | New |
| LEN Lennar Corp. Class A | 0.29% | 17,500 | $2.2M | New |
| MSI Motorola Solutions Inc. | 0.29% | 4,735 | $2.2M | New |
| SHIM Shimmick Corp. | 0.28% | 809,667 | $2.1M | Add +8.1% |
| MULTISENSOR AI HOLDINGS INC | 0.28% | 3,238,786 | $2.1M | Add +8.9% |
| RSP Invesco S&P 500 Equal Weight | 0.27% | 10,804 | $2.0M | New |
| ADBE Adobe Inc. | 0.27% | 5,780 | $2.0M | New |
| RKLB Rocket Lab Corp. | 0.26% | 40,500 | $1.9M | Reduce -2.9% |
| KLAC KLA Corp. | 0.25% | 1,750 | $1.9M | New |
| TSLA Tesla Inc. | 0.25% | 4,135 | $1.8M | Reduce -18.7% |
| PCT Purecycle Technologies Inc. | 0.24% | 139,215 | $1.8M | New |
| COP Conocophillips | 0.24% | 18,848 | $1.8M | New |
| GOOGL Alphabet Inc. Class A | 0.23% | 7,095 | $1.7M | Add +4.4% |
| BP BP PLC-Spons ADR | 0.23% | 49,797 | $1.7M | New |
| HD Home Depot Inc. | 0.23% | 4,232 | $1.7M | Reduce -4.5% |
| ET Energy Transfer LP | 0.23% | 99,398 | $1.7M | Add +60.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.22% | 14,282 | $1.6M | New |
| HCA HCA Healthcare Inc. | 0.22% | 3,781 | $1.6M | New |
| WMT Walmart Inc. | 0.21% | 15,357 | $1.6M | Add +21.6% |
| ECL Ecolab Inc. | 0.21% | 5,752 | $1.6M | New |
| RTX RTX Corp. | 0.21% | 9,370 | $1.6M | New |
| OXY Occidental Petroleum Corp. | 0.21% | 32,570 | $1.5M | New |
| LOW Lowe's Cos Inc. | 0.20% | 6,024 | $1.5M | Add +173.8% |
| MDLZ Mondelez International Inc. Class A | 0.19% | 23,054 | $1.4M | Add +553.1% |
| ALNY Alnylam Pharmaceuticals Inc. | 0.19% | 3,150 | $1.4M | New |
| IBIT iShares Bitcoin Trust ETF | 0.19% | 21,732 | $1.4M | Reduce -15.6% |
| T AT&T Inc. | 0.18% | 48,760 | $1.4M | Add +294.5% |
| VNET Vnet Group Inc.-ADR | 0.18% | 132,000 | $1.4M | New |
| CIEN Ciena Corp. | 0.18% | 9,329 | $1.4M | New |
| ARGX Argenx SE - ADR | 0.18% | 1,830 | $1.3M | New |
| RBLX Roblox Corp. Class A | 0.18% | 9,469 | $1.3M | New |
| PG The Procter & Gamble Co. | 0.17% | 8,530 | $1.3M | Add +151.0% |
| GENK Gen Restaurant Group Inc. | 0.17% | 472,516 | $1.3M | Add +75.0% |
| JNJ Johnson & Johnson | 0.17% | 6,945 | $1.3M | Add +135.8% |
| IGV iShares Expanded Tech-Softwa | 0.17% | 11,100 | $1.3M | New |
| WDAY Workday Inc. Class A | 0.17% | 5,250 | $1.3M | New |
| RMD Resmed Inc. | 0.17% | 4,600 | $1.3M | New |
| TTWO Take-Two Interactive Softwre | 0.17% | 4,860 | $1.3M | New |
| DOCU Docusign Inc. | 0.17% | 17,350 | $1.3M | Add +2.1% |
| FIX Comfort Systems USA Inc. | 0.17% | 1,500 | $1.2M | No change |
| GEV GE Vernova Inc. | 0.16% | 1,992 | $1.2M | New |
| KNSL Kinsale Capital Group Inc. | 0.16% | 2,850 | $1.2M | New |
| AMGN Amgen Inc. | 0.16% | 4,292 | $1.2M | New |
| ARKK ARK Innovation ETF | 0.16% | 14,025 | $1.2M | No change |
| DDOG Datadog Inc. Class A | 0.16% | 8,411 | $1.2M | New |
| CADE Cadence Bank | 0.16% | 31,864 | $1.2M | No change |
| BLK BlackRock Inc. | 0.16% | 1,025 | $1.2M | Reduce -2.0% |
| MO Altria Group Inc. | 0.16% | 17,951 | $1.2M | Add +107.3% |
| KMI Kinder Morgan Inc. | 0.16% | 41,822 | $1.2M | Add +393.2% |
| CYTK Cytokinetics Inc. | 0.16% | 21,505 | $1.2M | New |
| AXP American Express Co. | 0.16% | 3,531 | $1.2M | New |
| TXN Texas Instruments Inc. | 0.16% | 6,382 | $1.2M | Add +479.1% |
| GD General Dynamics Corp. | 0.15% | 3,400 | $1.2M | New |
| CP Canadian Pacific Kansas City | 0.15% | 15,354 | $1.1M | New |
Other holdings (10): bonds, preferreds, convertibles and warrants · $7.4M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 47,583 | $3.3M | New |
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 | 69,865 | $3.3M | New |
| QBTS.WS D-Wave Quantum Inc. -27 | *W EXP 08/05/202 | 12,165 | $297K | New |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | 6,000 | $236K | New |
| RSVRW Reservoir Media-CW26 | *W EXP 08/26/202 | 232,775 | $205K | Add +0.5% |
| VGASW Cenaq Energy Corp. Class A -CW27 | *W EXP 02/15/202 | 107,403 | $11K | No change |
| CLSKW Cleanspark Inc.-29 | *W EXP 12/29/202 | 14,500 | $7K | New |
| AIIOW NWTN Inc. -CW27 | *W EXP 11/11/202 | 10,000 | $2K | New |
| PIIIW P3 Health Partne -CW27 | *W EXP 11/19/202 | 93,332 | $868 | New |
| ANGHW Anghami Inc. -CW27 | *W EXP 02/03/202 | 33,333 | $433 | New |
Lines left out (1) · $2.1M — a value with no share or principal amount
| Security | Class | Shares | Value |
|---|---|---|---|
| HUBS HubSpot Inc. | COM | 0 | $2.1M |
Filed with a value but no share or principal amount (a cash line, a holding rounded to 0 shares), so they are kept out of the holdings, totals and percentages.
Total filed on the 13F, all lines: $758.2M.
Portfolio Sells Q2 2025 → Q3 2025
| CSWC Capital Southwest Corp. | Reduce -1.6% | 4.00% | −3.33 |
| EPD Enterprise Products Partners | Reduce -3.8% | 2.95% | −2.50 |
| IWF iShares Russell 1000 Growth | Sold out | 0.00% | −1.46 |
| MAIN Main Street Capital Corp. | Reduce -4.5% | 1.73% | −1.28 |
| ELAN Elanco Animal Health Inc. | Sold out | 0.00% | −0.98 |
| UBER Uber Technologies Inc. | Sold out | 0.00% | −0.71 |
| WYNN WYNN Resorts Ltd. | Sold out | 0.00% | −0.57 |
| RSVR Reservoir Media Inc. | Reduce -11.3% | 0.49% | −0.44 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −0.35 |
| GDX Vaneck Gold Miners ETF | Sold out | 0.00% | −0.19 |
| IBIT iShares Bitcoin Trust ETF | Reduce -15.6% | 0.19% | −0.19 |
| HD Home Depot Inc. | Reduce -4.5% | 0.23% | −0.16 |
| TSLA Tesla Inc. | Reduce -18.7% | 0.25% | −0.14 |
| GLP Global Partners LP | Reduce -6.1% | 0.10% | −0.11 |
| MQ Marqeta Inc. | Sold out | 0.00% | −0.11 |
| BLK BlackRock Inc. | Reduce -2.0% | 0.16% | −0.10 |
| RKLB Rocket Lab Corp. | Reduce -2.9% | 0.26% | −0.10 |
| VIRT Virtu Financial Inc. Class A | Sold out | 0.00% | −0.09 |
| ETN Eaton Corp. PLC | Reduce -14.3% | 0.09% | −0.09 |
| F Ford Motor Co. | Reduce -56.5% | 0.03% | −0.09 |
| MCD McDonald's Corp. | Reduce -3.9% | 0.10% | −0.08 |
| FIGS Figs Inc. Class A | Reduce -1.8% | 0.14% | −0.08 |
| GEL Genesis Energy L.P. | Reduce -23.4% | 0.05% | −0.07 |
| SANM Sanmina Corp. | Sold out | 0.00% | −0.07 |
| DUK Duke Energy Corp. | Sold out | 0.00% | −0.06 |
| IBM Intl Business Machines Corp. | Sold out | 0.00% | −0.06 |
| CBZ Cbiz Inc. | Sold out | 0.00% | −0.06 |
| KO The Coca-Cola Co. | Reduce -7.0% | 0.05% | −0.06 |
| PBH Prestige Consumer Healthcare | Sold out | 0.00% | −0.06 |
| CME Cme Group Inc. | Sold out | 0.00% | −0.06 |
| LUNR Intuitive Machines Inc. | Reduce -44.8% | 0.02% | −0.05 |
| BWXT BWX Technologies Inc. | Sold out | 0.00% | −0.05 |
| NIO Nio Inc. - ADR | Sold out | 0.00% | −0.05 |
| CCI Crown Castle Inc. | Sold out | 0.00% | −0.05 |
| SO The Southern Co. | Sold out | 0.00% | −0.05 |
| PDEC Innovator U.S. Equity Power | Sold out | 0.00% | −0.05 |
| OMAB Grupo Aeroportuario Cen-ADR | Reduce -5.4% | 0.05% | −0.04 |
| PAC Grupo Aeroportuario Pac-ADR | Reduce -6.3% | 0.05% | −0.04 |
| JYNT The Joint Corp. | Sold out | 0.00% | −0.03 |
| BHK BlackRock Core Bond Trust | Sold out | 0.00% | −0.03 |
| DEO Diageo PLC-Sponsored ADR | Reduce -9.8% | 0.03% | −0.03 |
| IJR iShares Core S&P Small-Cap E | Reduce -1.4% | 0.04% | −0.03 |
| WMB Williams Cos Inc. | Reduce -7.4% | 0.03% | −0.03 |
| NMFC New Mountain Finance Corp. | Reduce -10.9% | 0.02% | −0.03 |
| BIOVIE INC | Sold out | 0.00% | −0.01 |
Portfolio Buys Q2 2025 → Q3 2025
| NVDA Nvidia Corp. | Add +479.4% | 4.66% | +3.44 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +5703.4% | 3.51% | +3.41 |
| AAPL Apple Inc. | Add +181.1% | 3.87% | +1.89 |
| CTAS Cintas Corp. | New | 1.35% | +1.35 |
| AVGO Broadcom Inc. | New | 0.91% | +0.91 |
| BRK.A Berkshire Hathaway Inc. Class A | New | 0.91% | +0.91 |
| LRCX Lam Research Corp. | New | 0.76% | +0.76 |
| QURE Uniqure NV | New | 0.68% | +0.68 |
| ORCL Oracle Corp. | Add +1798.5% | 0.73% | +0.68 |
| CORZ Core Scientific Inc. | Add +2786.5% | 0.69% | +0.65 |
| CRM Salesforce Inc. | New | 0.62% | +0.62 |
| GS Goldman Sachs Group Inc. | New | 0.61% | +0.61 |
| GOOG Alphabet Inc. Class C | Add +1183.6% | 0.65% | +0.58 |
| ABBV Abbvie Inc. | Add +648.8% | 0.67% | +0.54 |
| AMD Advanced Micro Devices | Add +352.3% | 0.74% | +0.48 |
| FYBR Frontier Communications Pare | New | 0.41% | +0.41 |
| TGT Target Corp. | New | 0.40% | +0.40 |
| INTU Intuit Inc. | New | 0.39% | +0.39 |
| JBS JBS NV-A | New | 0.39% | +0.39 |
| COST Costco Wholesale Corp. | New | 0.36% | +0.36 |
| MCK McKesson Corp. | New | 0.35% | +0.35 |
| MSFT Microsoft Corp. | Add +189.2% | 0.86% | +0.35 |
| ALAB Astera Labs Inc. | New | 0.33% | +0.33 |
| META Meta Platforms Inc. Class A | Add +390.5% | 0.52% | +0.33 |
| ETNB 89BIO Inc. | New | 0.32% | +0.32 |
| MRUS Merus NV | New | 0.31% | +0.31 |
| LEN Lennar Corp. Class A | New | 0.29% | +0.29 |
| MSI Motorola Solutions Inc. | New | 0.29% | +0.29 |
| AMZN Amazon.com Inc. | Add +339.0% | 0.47% | +0.28 |
| PM Philip Morris International | Add +933.4% | 0.34% | +0.28 |
| RSP Invesco S&P 500 Equal Weight | New | 0.27% | +0.27 |
| ADBE Adobe Inc. | New | 0.27% | +0.27 |
| IVV iShares Core S&P 500 ETF | Add +461.8% | 0.37% | +0.26 |
| KLAC KLA Corp. | New | 0.25% | +0.25 |
| PCT Purecycle Technologies Inc. | New | 0.24% | +0.24 |
| GE General Electric | Add +513.8% | 0.32% | +0.24 |
| COP Conocophillips | New | 0.24% | +0.24 |
| BP BP PLC-Spons ADR | New | 0.23% | +0.23 |
| DIS The Walt Disney Co. | New | 0.22% | +0.22 |
| HCA HCA Healthcare Inc. | New | 0.22% | +0.22 |
| ECL Ecolab Inc. | New | 0.21% | +0.21 |
| RTX RTX Corp. | New | 0.21% | +0.21 |
| OXY Occidental Petroleum Corp. | New | 0.21% | +0.21 |
| MA Mastercard Inc. Class A | Add +307.6% | 0.34% | +0.19 |
| ALNY Alnylam Pharmaceuticals Inc. | New | 0.19% | +0.19 |
| VNET Vnet Group Inc.-ADR | New | 0.18% | +0.18 |
| CIEN Ciena Corp. | New | 0.18% | +0.18 |
| ARGX Argenx SE - ADR | New | 0.18% | +0.18 |
| RBLX Roblox Corp. Class A | New | 0.18% | +0.18 |
| IGV iShares Expanded Tech-Softwa | New | 0.17% | +0.17 |
Notes & Other Activity Q2 2025 → Q3 2025
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | New | 47,583 | $3.3M |
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 | New | 69,865 | $3.3M |
| HUBS HubSpot Inc. | COM | New | 0 | $2.1M |
| QBTS.WS D-Wave Quantum Inc. -27 | *W EXP 08/05/202 | New | 12,165 | $297K |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | New | 6,000 | $236K |
| RSVRW Reservoir Media-CW26 | *W EXP 08/26/202 | Add +0.5% | 232,775 | $205K |
| CLSKW Cleanspark Inc.-29 | *W EXP 12/29/202 | New | 14,500 | $7K |
| AIIOW NWTN Inc. -CW27 | *W EXP 11/11/202 | New | 10,000 | $2K |
| PIIIW P3 Health Partne -CW27 | *W EXP 11/19/202 | New | 93,332 | $868 |
| ANGHW Anghami Inc. -CW27 | *W EXP 02/03/202 | New | 33,333 | $433 |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 75 | $172.4M | MSIF, CSWC, AAPL, BX, XOM |
| Q1 2026 | 288 | $618.2M | QQQ, AAPL, NVDA, EPD, CSWC |
| Q4 2025 | 34 | $64.7M | QQQ, VOXR, BABA, JBS, SLB |
| Q3 2025 | 297 | $748.7M | QQQ, BX, NVDA, CSWC, AAPL |
| Q2 2025 | 160 | $418.4M | QQQ, BX, CSWC, EPD, MSIF |
| Q1 2025 | 276 | $640.9M | QQQ, BX, CSWC, EPD, AAPL |
| Q4 2024 | 280 | $666.0M | QQQ, BX, AAPL, EPD, NVDA |
| Q3 2024 | 273 | $602.5M | QQQ, BX, AAPL, NVDA, EPD |
| Q2 2024 | 272 | $608.6M | QQQ, BX, AAPL, NVDA, CSWC |
| Q1 2024 | 260 | $544.7M | QQQ, BX, AAPL, NVDA, CSWC |