Westwood Holdings Group Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 9, 2025), Westwood Holdings Group Inc. reported 416 stock positions worth $13.1 billion. Its top holding was Energy Transfer (ET) at 2.4% of the portfolio, followed by Williams Cos (WMB, 1.9%) and Oneok (OKE, 1.8%). Compared with Q4 2024, it opened 25 new positions, sold out of 48, added to 151 and reduced 197. The biggest buy was a new position in Cheesecake Factory (CAKE) and the biggest sale Apple (AAPL, shares −69%).
- Most Recent 13F
- Q2 2026
- Location
- DALLAS, TX
- CIK
- 0001165002
- Portfolio Value
- $13.1B (Q1 2025)
- SEC Filing
- 0001085146-25-002893 ↗ filed May 9, 2025
Holdings Value
Holdings 416 stocks · $13.1B
| ET Energy Transfer LP | 2.39% | 16,787,080 | $312.1M | Add +2.8% |
| WMB Williams Cos Inc. | 1.86% | 4,069,702 | $243.2M | Reduce -3.2% |
| OKE Oneok Inc. | 1.81% | 2,380,253 | $236.2M | Add +33.3% |
| TRGP Targa Resources Corp. | 1.68% | 1,094,066 | $219.3M | Add +6.1% |
| MSFT Microsoft Corp. | 1.61% | 560,248 | $210.3M | Add +9.1% |
| EPD Enterprise Products Partners | 1.50% | 5,754,839 | $196.5M | Reduce -1.3% |
| LNG Cheniere Energy Inc. | 1.45% | 816,544 | $188.9M | Add +2.8% |
| KMI Kinder Morgan Inc. | 1.41% | 6,442,093 | $183.8M | Add +14.1% |
| JPM JPMorgan Chase & Co. | 1.39% | 740,491 | $181.6M | Reduce -16.1% |
| VEA Vanguard Ftse Developed ETF | 1.23% | 3,160,748 | $160.7M | Add +6.8% |
| ABT Abbott Laboratories | 1.20% | 1,185,038 | $157.2M | Reduce -15.2% |
| BCC Boise Cascade Co. | 1.13% | 1,499,305 | $147.1M | Add +25.7% |
| UNH Unitedhealth Group Inc. | 1.12% | 280,364 | $146.8M | Reduce -3.9% |
| JNJ Johnson & Johnson | 1.09% | 859,640 | $142.6M | Add +65.4% |
| UNP Union Pacific Corp. | 1.07% | 592,152 | $139.9M | Reduce -1.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.98% | 240,289 | $128.0M | Add +48.2% |
| TMUS T-Mobile US Inc. | 0.94% | 462,537 | $123.4M | Reduce -13.6% |
| MPLX MPLX LP | 0.89% | 2,172,820 | $116.3M | Reduce -4.7% |
| DPZ Domino's Pizza Inc. | 0.89% | 252,425 | $116.0M | Reduce -7.9% |
| WEC WEC Energy Group Inc. | 0.88% | 1,050,446 | $114.5M | Reduce -9.6% |
| GOOGL Alphabet Inc. Class A | 0.87% | 738,458 | $114.2M | Add +34.7% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.87% | 2,717,421 | $113.4M | Reduce -2.1% |
| VRRM Verra Mobility Corp. | 0.84% | 4,873,442 | $109.7M | Add +9.3% |
| GS Goldman Sachs Group Inc. | 0.82% | 196,248 | $107.2M | Reduce -20.0% |
| PCH Potlatchdeltic Corp. | 0.80% | 2,330,719 | $105.2M | Reduce -3.0% |
| CVX Chevron Corp. | 0.80% | 623,423 | $104.3M | Reduce -4.0% |
| DTM DT Midstream Inc. | 0.78% | 1,056,342 | $101.9M | Reduce -2.5% |
| CDP Copt Defense Properties | 0.76% | 3,627,108 | $98.9M | Add +25.7% |
| HUBB Hubbell Inc. | 0.75% | 297,598 | $98.5M | Add +13.4% |
| TXNM TXNM Energy Inc. | 0.75% | 1,838,506 | $98.3M | Add +14.0% |
| XOM Exxon Mobil Corp. | 0.75% | 826,438 | $98.3M | Add +5.1% |
| CHD Church & Dwight Co. Inc. | 0.75% | 890,892 | $98.1M | Add +20.9% |
| FRT Federal Realty Invs Trust | 0.74% | 995,159 | $97.3M | Add +8.2% |
| SM SM Energy Co. | 0.73% | 3,207,245 | $96.1M | Add +51.4% |
| TRP TC Energy Corp. | 0.73% | 2,012,524 | $95.0M | Add +3.8% |
| BWXT BWX Technologies Inc. | 0.72% | 958,563 | $94.6M | Add +279.0% |
| CACI Caci International Inc. Class A | 0.72% | 255,377 | $93.7M | Add +9.9% |
| SSB Southstate Bank Corp. | 0.70% | 990,535 | $91.9M | Add +36.2% |
| ASO Academy Sports & Outdoors Inc. | 0.70% | 1,992,997 | $90.9M | Add +36.1% |
| V Visa Inc. Class A | 0.69% | 258,945 | $90.7M | Reduce -24.9% |
| NOG Northern Oil and Gas Inc. | 0.69% | 2,978,616 | $90.0M | Add +37.6% |
| AIR Aar Corp. | 0.68% | 1,589,320 | $89.0M | Add +10.3% |
| PIPR Piper Sandler Cos | 0.68% | 357,167 | $88.5M | Add +35.0% |
| ORLY O'reilly Automotive Inc. | 0.67% | 61,501 | $88.1M | Reduce -14.7% |
| MOG.A Moog Inc. Class A | 0.67% | 507,080 | $87.9M | Add +36.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.67% | 880,695 | $86.9M | Add +30.3% |
| WFC Wells Fargo & Co. | 0.65% | 1,187,351 | $85.2M | Reduce -34.5% |
| BLD Topbuild Corp. | 0.64% | 274,518 | $83.7M | Add +5.7% |
| NEE Nextera Energy Inc. | 0.64% | 1,178,776 | $83.6M | Add +6.6% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.63% | 238,055 | $82.2M | Reduce -15.8% |
| ICE Intercontinental Exchange Inc. | 0.63% | 474,297 | $81.8M | Add +872.5% |
| CRM Salesforce Inc. | 0.62% | 300,082 | $80.5M | Add +8.3% |
| JJSF J & J Snack Foods Corp. | 0.62% | 610,477 | $80.4M | Add +21.1% |
| SO The Southern Co. | 0.61% | 869,272 | $79.9M | Reduce -3.0% |
| WMT Walmart Inc. | 0.61% | 905,176 | $79.5M | Reduce -12.9% |
| BWIN Baldwin Insurance Group Inc./ filed as THE BALDWIN INSURANCE GRP IN | 0.61% | 1,778,024 | $79.5M | Reduce -10.7% |
| PAGP Plains GP Holdings LP | 0.60% | 3,680,111 | $78.6M | Reduce -3.3% |
| PGR Progressive Corp. | 0.60% | 275,535 | $78.0M | Add +47.1% |
| BLBD Blue Bird Corp. | 0.59% | 2,402,214 | $77.8M | Add +24.3% |
| GD General Dynamics Corp. | 0.59% | 281,745 | $76.8M | Reduce -26.2% |
| WES Western Midstream Partners L | 0.59% | 1,871,244 | $76.6M | Reduce -32.4% |
| DRI Darden Restaurants Inc. | 0.58% | 367,788 | $76.4M | Reduce -19.2% |
| CAKE The Cheesecake Factory Inc. | 0.58% | 1,557,637 | $75.8M | New |
| ECG Everus Construction Group | 0.57% | 2,024,510 | $75.1M | New |
| UE Urban Edge Properties | 0.57% | 3,945,310 | $75.0M | Add +35.4% |
| CNMD Conmed Corp. | 0.57% | 1,237,735 | $74.7M | Add +41.1% |
| CHCO City Holding Co. filed as CITY HLDG CO | 0.57% | 631,584 | $74.2M | Add +24.3% |
| PLD Prologis Inc. | 0.57% | 662,376 | $74.0M | Reduce -10.8% |
| PBH Prestige Consumer Healthcare | 0.57% | 861,282 | $74.0M | Add +7.1% |
| SBCF Seacoast Banking Corp. | 0.56% | 2,869,563 | $73.8M | Add +27.7% |
| PLYM Plymouth Industrial REIT Inc. | 0.56% | 4,520,361 | $73.7M | Add +24.5% |
| HSY The Hershey Co. | 0.56% | 427,743 | $73.2M | Add +0.1% |
| BANR Banner Corporation | 0.56% | 1,142,987 | $72.9M | Add +122.8% |
| MMSI Merit Medical Systems Inc. | 0.56% | 687,501 | $72.7M | Add +12.0% |
| WM Waste Management Inc. | 0.56% | 313,737 | $72.6M | Reduce -10.1% |
| RNST Renasant Corp. | 0.55% | 2,121,838 | $72.0M | Add +20.6% |
| SFNC Simmons First Natl Corp. Class A | 0.55% | 3,483,147 | $71.5M | Add +119.9% |
| ALG Alamo Group Inc. | 0.55% | 400,860 | $71.4M | Add +22.9% |
| CCS Century Communities Inc. | 0.54% | 1,059,648 | $71.1M | Add +32.2% |
| ACN Accenture PLC Class A | 0.54% | 227,477 | $71.0M | Reduce -3.3% |
| LFUS Littelfuse Inc. | 0.54% | 357,157 | $70.3M | Add +2.8% |
| VTLE Vital Energy Inc. | 0.53% | 3,284,584 | $69.7M | Add +48.3% |
| SCL Stepan Co. | 0.53% | 1,252,914 | $69.0M | Add +35.9% |
| GMS GMS Inc. | 0.52% | 933,262 | $68.3M | Add +29.4% |
| AUB Atlantic Union Bankshares Co. | 0.51% | 2,152,467 | $67.0M | Reduce -11.9% |
| CSTM Constellium SE | 0.50% | 6,518,601 | $65.8M | Add +12.2% |
| KTOS Kratos Defense & Security | 0.49% | 2,178,673 | $64.7M | Reduce -11.4% |
| RMBS Rambus Inc. | 0.49% | 1,232,210 | $63.8M | Add +9.3% |
| HWKN Hawkins Inc. | 0.49% | 599,015 | $63.4M | Add +31.5% |
| ARCB Arcbest Corp. | 0.47% | 869,267 | $61.4M | Add +36.7% |
| EOG EOG Resources Inc. | 0.46% | 469,843 | $60.3M | Reduce -1.6% |
| KNTK Kinetik Holdings Inc. | 0.45% | 1,126,832 | $58.5M | Add +4.0% |
| NWE Northwestern Energy Group Inc. | 0.44% | 1,001,201 | $57.9M | Add +13.2% |
| AVA Avista Corp. | 0.44% | 1,382,168 | $57.9M | Add +8.1% |
| BL Blackline Inc. | 0.44% | 1,186,347 | $57.4M | Add +106.4% |
| PBA Pembina Pipeline Corp. | 0.44% | 1,428,833 | $57.2M | Add +25.3% |
| ENB Enbridge Inc. | 0.43% | 1,256,974 | $55.7M | Reduce -0.5% |
| NBHC National Bank Hold Class A | 0.42% | 1,450,227 | $55.5M | Add +30.1% |
| AZZ Azz Inc. | 0.42% | 650,072 | $54.4M | Add +19.4% |
| CFR Cullen/Frost Bankers Inc. | 0.41% | 432,947 | $54.2M | Reduce -3.2% |
Other holdings (47): bonds, preferreds, convertibles and warrants · $176.1M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | 260,000 | $12.4M | No change |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 180,000 | $10.8M | No change |
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | 375,000 | $9.2M | No change |
| EPR PROPERTIES (EPR 9 PERP E) | CONV PFD 9% SR E | 280,000 | $8.4M | No change |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | 5,987,000 | $8.4M | No change |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | NOTE 0.125% 5/0 · principal | 8,113,000 | $8.1M | No change |
| INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) | NOTE 2.125% 2/1 · principal | 4,915,000 | $7.2M | No change |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | 6,100,000 | $7.1M | New |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 6,515,000 | $7.0M | No change |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 6,180,000 | $6.7M | No change |
| EXACT SCIENCES CORP (EXAS 0.375 03/15/27) | NOTE 0.375% 3/1 · principal | 6,385,000 | $5.9M | No change |
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 | 113,150 | $5.2M | No change |
| PEBBLEBROOK HOTEL TRUST (PEB 6.3 PERP F) | 6.3 CUM PFD SR F | 242,066 | $4.2M | New |
| ROYAL CARIBBEAN CRUISES (RCL 6 08/15/25) | NOTE 6.000% 8/1 · principal | 1,000,000 | $4.1M | No change |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | 100,000 | $3.6M | No change |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 2,500,000 | $3.5M | No change |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 3,500,000 | $3.3M | New |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 2,500,000 | $3.0M | Add +25.0% |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 3,000,000 | $3.0M | Add +50.0% |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | NOTE 5.500% 3/1 · principal | 3,000,000 | $2.9M | New |
| HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) | NOTE 1.000% 8/1 · principal | 2,250,000 | $2.9M | No change |
| SUNRUN INC (RUN 4 03/01/30) | NOTE 4.000% 3/0 · principal | 3,900,000 | $2.8M | New |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 3,000,000 | $2.7M | Add +50.0% |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 2,500,000 | $2.6M | No change |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | 2,500,000 | $2.6M | Add +66.7% |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 2,500,000 | $2.4M | New |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | 2,000,000 | $2.4M | No change |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | 2,000,000 | $2.4M | New |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | 2,000,000 | $2.2M | No change |
| PROGRESS SOFTWARE CORP (PRGS 1 04/15/26) | NOTE 1.000% 4/1 · principal | 2,000,000 | $2.1M | No change |
| FIVE9 INC (FIVN 1 03/15/29) | NOTE 1.000% 3/1 · principal | 2,500,000 | $2.1M | New |
| VEECO INSTRUMENTS INC (VECO 2.875 06/01/29) | NOTE 2.875% 6/0 · principal | 2,000,000 | $2.1M | No change |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | 2,000,000 | $2.0M | No change |
| ZTO EXPRESS KY INC (ZTO 1.5 09/01/27) | NOTE 1.500% 9/0 · principal | 2,000,000 | $2.0M | No change |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 2,000,000 | $2.0M | No change |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 1,500,000 | $1.8M | Add +50.0% |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | 2,000,000 | $1.8M | No change |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 1,500,000 | $1.7M | No change |
| PEBBLEBROOK HOTEL TRUST (PEB 6.375 PERP E) | 6.375 PFD SER E | 98,002 | $1.7M | New |
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | 1,500,000 | $1.6M | No change |
| WORKIVA INC (WK 1.25 08/15/28) | NOTE 1.250% 8/1 · principal | 1,500,000 | $1.4M | No change |
| SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27) | NOTE 1.250% 9/1 · principal | 1,500,000 | $1.4M | No change |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | 1,500,000 | $1.3M | Add +50.0% |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 1,000,000 | $1.3M | Reduce -50.0% |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | 1,000,000 | $976K | No change |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | 1,000,000 | $933K | No change |
| RAPID7 INC (RPD 1.25 03/15/29) | NOTE 1.250% 3/1 · principal | 1,000,000 | $857K | No change |
Total filed on the 13F, all lines: $13.2B.
Portfolio Sells Q4 2024 → Q1 2025
| AAPL Apple Inc. | Reduce -69.1% | 0.33% | −0.89 |
| BDX Becton Dickinson and Co. | Reduce -79.7% | 0.14% | −0.56 |
| ENLC Enlink Midstream LLC | Sold out | 0.00% | −0.41 |
| PWP Perella Weinberg Partners | Sold out | 0.00% | −0.39 |
| WFC Wells Fargo & Co. | Reduce -34.5% | 0.65% | −0.34 |
| HEES H&E Equipment Services Inc. | Sold out | 0.00% | −0.33 |
| MCHP Microchip Technology Inc. | Reduce -42.1% | 0.28% | −0.30 |
| DAL Delta Air Lines Inc. | Reduce -93.2% | 0.01% | −0.29 |
| GS Goldman Sachs Group Inc. | Reduce -20.0% | 0.82% | −0.27 |
| JPM JPMorgan Chase & Co. | Reduce -16.1% | 1.39% | −0.26 |
| BOOT Boot Barn Holdings Inc. | Sold out | 0.00% | −0.25 |
| WES Western Midstream Partners L | Reduce -32.4% | 0.59% | −0.24 |
| AMKR Amkor Technology Inc. | Reduce -98.1% | 0.00% | −0.24 |
| VLO Valero Energy Corp. | Reduce -98.3% | 0.00% | −0.22 |
| AUB Atlantic Union Bankshares Co. | Reduce -11.9% | 0.51% | −0.21 |
| GD General Dynamics Corp. | Reduce -26.2% | 0.59% | −0.20 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -66.6% | 0.09% | −0.19 |
| PEP Pepsico Inc. | Reduce -28.0% | 0.41% | −0.18 |
| VBTX Veritex Holdings Inc. | Sold out | 0.00% | −0.16 |
| AVNS Avanos Medical Inc. | Sold out | 0.00% | −0.16 |
| V Visa Inc. Class A | Reduce -24.9% | 0.69% | −0.16 |
| DBRG Digitalbridge Group Inc. | Sold out | 0.00% | −0.15 |
| TPR Tapestry Inc. | Reduce -96.5% | 0.01% | −0.14 |
| WMT Walmart Inc. | Reduce -12.9% | 0.61% | −0.12 |
| VTWG Vanguard Russell 2000 Growth | Reduce -25.9% | 0.22% | −0.12 |
| ARLO Arlo Technologies Inc. | Reduce -89.2% | 0.01% | −0.12 |
| ACN Accenture PLC Class A | Reduce -3.3% | 0.54% | −0.10 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -24.9% | 0.16% | −0.10 |
| AIG American International Group | Reduce -97.5% | 0.00% | −0.10 |
| ETN Eaton Corp. PLC | Reduce -16.5% | 0.20% | −0.10 |
| BIO Bio-Rad Laboratories-A | Sold out | 0.00% | −0.10 |
| HPQ HP Inc. | Reduce -4.7% | 0.36% | −0.09 |
| IWM iShares Russell 2000 ETF | Reduce -90.2% | 0.01% | −0.09 |
| CHRD Chord Energy Corp. | Reduce -33.0% | 0.15% | −0.09 |
| ILMN Illumina Inc. | Reduce -87.0% | 0.01% | −0.08 |
| BAC Bank of America Corp. | Reduce -2.1% | 0.87% | −0.08 |
| CCI Crown Castle Inc. | Sold out | 0.00% | −0.08 |
| AMZN Amazon.com Inc. | Reduce -5.0% | 0.33% | −0.08 |
| DRI Darden Restaurants Inc. | Reduce -19.2% | 0.58% | −0.08 |
| PZZA Papa John's Intl Inc. | Reduce -18.0% | 0.29% | −0.07 |
| HXL Hexcel Corp. | Reduce -22.6% | 0.13% | −0.07 |
| STR Sitio Royalties Corp. Class A | Reduce -20.4% | 0.29% | −0.07 |
| LNT Alliant Energy Corp. | Reduce -52.0% | 0.07% | −0.06 |
| DTM DT Midstream Inc. | Reduce -2.5% | 0.78% | −0.06 |
| TGT Target Corp. | Reduce -33.2% | 0.06% | −0.06 |
| COP Conocophillips | Reduce -48.4% | 0.07% | −0.06 |
| CFR Cullen/Frost Bankers Inc. | Reduce -3.2% | 0.41% | −0.05 |
| TFX Teleflex Inc. | Reduce -9.9% | 0.12% | −0.05 |
| CMG Chipotle Mexican Grill Inc. | Reduce -3.0% | 0.18% | −0.05 |
| ZTS Zoetis Inc. | Reduce -20.7% | 0.17% | −0.05 |
Portfolio Buys Q4 2024 → Q1 2025
| CAKE The Cheesecake Factory Inc. | New | 0.58% | +0.58 |
| ECG Everus Construction Group | New | 0.57% | +0.57 |
| ICE Intercontinental Exchange Inc. | Add +872.5% | 0.63% | +0.57 |
| JNJ Johnson & Johnson | Add +65.4% | 1.09% | +0.51 |
| BWXT BWX Technologies Inc. | Add +279.0% | 0.72% | +0.50 |
| OKE Oneok Inc. | Add +33.3% | 1.81% | +0.41 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +48.2% | 0.98% | +0.41 |
| BANR Banner Corporation | Add +122.8% | 0.56% | +0.29 |
| SFNC Simmons First Natl Corp. Class A | Add +119.9% | 0.55% | +0.27 |
| VRTX Vertex Pharmaceuticals Inc. | Add +2237.1% | 0.27% | +0.26 |
| CCB Coastal Financial Corp. | Add +400.4% | 0.31% | +0.25 |
| PGR Progressive Corp. | Add +47.1% | 0.60% | +0.25 |
| TRGP Targa Resources Corp. | Add +6.1% | 1.68% | +0.24 |
| MCY Mercury General Corp. | New | 0.21% | +0.21 |
| KMI Kinder Morgan Inc. | Add +14.1% | 1.41% | +0.20 |
| BL Blackline Inc. | Add +106.4% | 0.44% | +0.17 |
| WMS Advanced Drainage Systems Inc. | New | 0.15% | +0.15 |
| CHD Church & Dwight Co. Inc. | Add +20.9% | 0.75% | +0.15 |
| SSB Southstate Bank Corp. | Add +36.2% | 0.70% | +0.14 |
| TXNM TXNM Energy Inc. | Add +14.0% | 0.75% | +0.13 |
| VEA Vanguard Ftse Developed ETF | Add +6.8% | 1.23% | +0.13 |
| INTC Intel Corp. | New | 0.13% | +0.13 |
| SOBO South Bow Corp. | Add +155.6% | 0.19% | +0.12 |
| LNG Cheniere Energy Inc. | Add +2.8% | 1.45% | +0.12 |
| PBA Pembina Pipeline Corp. | Add +25.3% | 0.44% | +0.11 |
| GILD Gilead Sciences Inc. | Add +36.6% | 0.28% | +0.11 |
| CNMD Conmed Corp. | Add +41.1% | 0.57% | +0.10 |
| MOG.A Moog Inc. Class A | Add +36.6% | 0.67% | +0.10 |
| CHCO City Holding Co. | Add +24.3% | 0.57% | +0.10 |
| EXP Eagle Materials Inc. | New | 0.10% | +0.10 |
| SM SM Energy Co. | Add +51.4% | 0.73% | +0.10 |
| MMSI Merit Medical Systems Inc. | Add +12.0% | 0.56% | +0.09 |
| XOM Exxon Mobil Corp. | Add +5.1% | 0.75% | +0.09 |
| BRX Brixmor Property Group Inc. | New | 0.09% | +0.09 |
| CCS Century Communities Inc. | Add +32.2% | 0.54% | +0.09 |
| AM Antero Midstream Corp. | Add +14.4% | 0.34% | +0.09 |
| UE Urban Edge Properties | Add +35.4% | 0.57% | +0.09 |
| SBCF Seacoast Banking Corp. | Add +27.7% | 0.56% | +0.08 |
| DIS The Walt Disney Co. | Add +30.3% | 0.67% | +0.08 |
| AVA Avista Corp. | Add +8.1% | 0.44% | +0.08 |
| PBH Prestige Consumer Healthcare | Add +7.1% | 0.57% | +0.08 |
| NWE Northwestern Energy Group Inc. | Add +13.2% | 0.44% | +0.07 |
| ALG Alamo Group Inc. | Add +22.9% | 0.55% | +0.07 |
| ARIS WATER SOLUTIONS INC-A | Add +2146.0% | 0.08% | +0.07 |
| AZZ Azz Inc. | Add +19.4% | 0.42% | +0.07 |
| GOOGL Alphabet Inc. Class A | Add +34.7% | 0.87% | +0.07 |
| SCL Stepan Co. | Add +35.9% | 0.53% | +0.06 |
| NOG Northern Oil and Gas Inc. | Add +37.6% | 0.69% | +0.06 |
| CDP Copt Defense Properties | Add +25.7% | 0.76% | +0.06 |
| RNST Renasant Corp. | Add +20.6% | 0.55% | +0.06 |
Notes & Other Activity Q4 2024 → Q1 2025
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | New | 6,100,000 | $7.1M |
| PEBBLEBROOK HOTEL TRUST (PEB 6.3 PERP F) | 6.3 CUM PFD SR F | New | 242,066 | $4.2M |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | New | 3,500,000 | $3.3M |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Add +25.0% | 2,500,000 | $3.0M |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | Add +50.0% | 3,000,000 | $3.0M |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | NOTE 5.500% 3/1 · principal | New | 3,000,000 | $2.9M |
| SUNRUN INC (RUN 4 03/01/30) | NOTE 4.000% 3/0 · principal | New | 3,900,000 | $2.8M |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | Add +50.0% | 3,000,000 | $2.7M |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | Add +66.7% | 2,500,000 | $2.6M |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | New | 2,500,000 | $2.4M |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | New | 2,000,000 | $2.4M |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | Sold out | 2,500,000 | $2.4Mbefore exit |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | Sold out | 2,400,000 | $2.3Mbefore exit |
| FIVE9 INC (FIVN 1 03/15/29) | NOTE 1.000% 3/1 · principal | New | 2,500,000 | $2.1M |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | Sold out | 2,000,000 | $1.9Mbefore exit |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Sold out | 2,000,000 | $1.9Mbefore exit |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | Add +50.0% | 1,500,000 | $1.8M |
| PEBBLEBROOK HOTEL TRUST (PEB 6.375 PERP E) | 6.375 PFD SER E | New | 98,002 | $1.7M |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | Add +50.0% | 1,500,000 | $1.3M |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | Reduce -50.0% | 1,000,000 | $1.3M |
| PEGASYSTEMS INC (PEGA 0.75 03/01/25) | NOTE 0.750% 3/0 · principal | Sold out | 1,000,000 | $994Kbefore exit |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | Sold out | 1,000,000 | $970Kbefore exit |
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 | 617 | $13.2B | WMB, VEA, ET, BIL, KMI |
| Q1 2026 | 452 | $13.7B | WMB, ET, BIL, VEA, KMI |
| Q4 2025 | 426 | $12.1B | VEA, WMB, KMI, LNG, TRGP |
| Q3 2025 | 433 | $13.8B | ET, WMB, VEA, KMI, LNG |
| Q2 2025Amended | 419 | $13.7B | ET, WMB, VEA, MSFT, KMI |
| Q1 2025 | 416 | $13.1B | ET, WMB, OKE, TRGP, MSFT |
| Q4 2024 | 439 | $12.8B | ET, WMB, MSFT, JPM, TRGP |
| Q3 2024 | 424 | $12.9B | ET, MSFT, WMB, JPM, WES |
| Q2 2024 | 412 | $12.1B | ET, MSFT, LNG, AAPL, JPM |
| Q1 2024Amended | 414 | $12.6B | ET, MSFT, JPM, LNG, OKE |