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

0$5.0B$10.0B$15.0B Q1 2024: $12.6B Q1 2024 Q2 2024: $12.1B Q2 2024 Q3 2024: $12.9B Q3 2024 Q4 2024: $12.8B Q4 2024 Q1 2025: $13.1B $13.1B Q1 2025 Q2 2025: $13.7B Q2 2025 Q3 2025: $13.8B Q3 2025 Q4 2025: $12.1B Q4 2025 Q1 2026: $13.7B Q1 2026 Q2 2026: $13.2B Q2 2026

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%
PEP Pepsico Inc. 0.41% 360,504 $54.1M Reduce -28.0%
MRVL Marvell Technology Inc. 0.41% 876,710 $54.0M Add +70.7%
IPAR Interparfums Inc. 0.41% 464,878 $52.9M Add +31.1%
HPQ HP Inc. 0.36% 1,685,035 $46.7M Reduce -4.7%
HESM Hess Midstream LP Class A 0.35% 1,089,562 $46.1M Reduce -21.1%
AM Antero Midstream Corp. 0.34% 2,456,235 $44.2M Add +14.4%
MDST Westwd Sat Encd Mdstr in ETF 0.34% 1,586,307 $44.1M Reduce -3.2%
AMZN Amazon.com Inc. 0.33% 229,037 $43.6M Reduce -5.0%
AAPL Apple Inc. 0.33% 192,259 $42.7M Reduce -69.1%
CCOI Cogent Communications Holdin 0.32% 673,921 $41.3M Add +15.3%
NVDA Nvidia Corp. 0.31% 375,658 $40.7M Add +36.1%
CCB Coastal Financial Corp. 0.31% 449,113 $40.6M Add +400.4%
BIL SS SPDR BB 1-3M T-Bill ETF 0.31% 435,792 $40.0M Add +17.4%
IVV iShares Core S&P 500 ETF 0.30% 70,417 $39.6M Add +1.8%
YETI Yeti Holdings Inc. filed as YETI HLDGS INC 0.30% 1,193,043 $39.5M Add +23.9%
NTB Bank of N.T. Butterfield&son 0.30% 993,807 $38.7M Add +8.6%
CENTA Central Garden and Pet Co. Class A 0.29% 1,164,376 $38.1M Add +21.1%
PZZA Papa John's Intl Inc. 0.29% 916,171 $37.6M Reduce -18.0%
STR Sitio Royalties Corp. Class A 0.29% 1,885,478 $37.5M Reduce -20.4%
HON Honeywell International Inc. 0.29% 176,739 $37.4M Reduce -2.1%
VIAV Viavi Solutions Inc. 0.28% 3,292,976 $36.8M Reduce -15.7%
MCHP Microchip Technology Inc. 0.28% 759,267 $36.8M Reduce -42.1%
SAH Sonic Automotive Inc. Class A 0.28% 641,237 $36.5M Add +26.2%
IOSP Innospec Inc. 0.28% 382,410 $36.2M Add +28.3%
GILD Gilead Sciences Inc. 0.28% 322,907 $36.2M Add +36.6%
AMSF Amerisafe Inc. 0.28% 684,558 $36.0M Add +13.2%
VRTX Vertex Pharmaceuticals Inc. 0.27% 73,968 $35.9M Add +2237.1%
GEL Genesis Energy L.P. 0.27% 2,224,065 $34.9M Reduce -40.3%
IJH iShares Core S&P Midcap ETF 0.26% 590,405 $34.5M Add +30.1%
PAA Plains All Amer Pipeline LP 0.26% 1,697,791 $34.0M Reduce -6.8%
IDA Idacorp Inc. 0.26% 290,333 $33.7M Reduce -11.2%
SHO Sunstone Hotel Investors Inc. 0.26% 3,576,897 $33.7M Add +45.9%
GOOG Alphabet Inc. Class C 0.25% 206,354 $32.2M Add +1.8%
PSA Public Storage 0.24% 104,878 $31.4M Reduce -1.9%
HD Home Depot Inc. 0.23% 83,416 $30.6M Reduce -4.1%
SEI Solaris Energy Infrastructur 0.22% 1,346,400 $29.3M Add +37.4%
VTWG Vanguard Russell 2000 Growth 0.22% 151,534 $28.2M Reduce -25.9%
RSP Invesco S&P 500 Equal Weight 0.21% 162,033 $28.1M Reduce -3.5%
GBCI Glacier Bancorp Inc. 0.21% 623,814 $27.6M Add +7.6%
MCY Mercury General Corp. 0.21% 491,687 $27.5M New
CCK Crown Holdings Inc. 0.21% 300,978 $26.9M Add +12.6%
ETN Eaton Corp. PLC 0.20% 97,253 $26.4M Reduce -16.5%
SOBO South Bow Corp. 0.19% 964,309 $24.6M Add +155.6%
TLT iShares 20+ Year Treasury BD 0.19% 269,430 $24.5M Add +1.6%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.19% 200,220 $24.4M Reduce -3.0%
ITGR Integer Holdings Corp. 0.19% 206,392 $24.4M Reduce -2.5%
AVTR Avantor Inc. 0.18% 1,487,595 $24.1M Add +24.0%
TXN Texas Instruments Inc. 0.18% 134,126 $24.1M Add +1.9%
CRWD CrowdStrike Holdings Inc. Class A 0.18% 68,038 $24.0M Reduce -5.3%
CMG Chipotle Mexican Grill Inc. 0.18% 476,559 $23.9M Reduce -3.0%
MSI Motorola Solutions Inc. 0.18% 53,806 $23.6M Reduce -3.1%
REXR Rexford Industrial Realty Inc. 0.18% 590,295 $23.1M Add +4.1%
BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC 0.17% 200,502 $22.9M Reduce -19.5%
LAD Lithia Motors Inc. 0.17% 77,383 $22.7M Add +10.2%
WTFC Wintrust Financial Corp. 0.17% 200,878 $22.6M Reduce -0.1%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.17% 90,724 $22.6M Reduce -3.5%
ZTS Zoetis Inc. 0.17% 134,864 $22.2M Reduce -20.7%
IGIC International General Insura filed as INTL GNRL INSURANCE HLDNGS L 0.17% 841,651 $22.1M Reduce -14.6%
TSM Taiwan Semiconductor-SP ADR 0.16% 129,816 $21.5M Reduce -24.9%
COO The Cooper Cos Inc. 0.16% 252,555 $21.3M Reduce -0.5%
DOX Amdocs Ltd. 0.16% 229,449 $21.0M Reduce -1.4%
RNR Renaissancere Holdings Ltd. 0.15% 82,913 $19.9M Add +7.1%
XPO Xpo Inc. 0.15% 184,411 $19.8M Add +22.0%
WAL Western Alliance Bancorp 0.15% 257,227 $19.8M Reduce -3.7%
MLM Martin Marietta Materials 0.15% 41,322 $19.8M Reduce -2.5%
WMS Advanced Drainage Systems Inc. 0.15% 181,435 $19.7M New
CHRD Chord Energy Corp. 0.15% 174,700 $19.7M Reduce -33.0%
AXTA Axalta Coating Systems Ltd. 0.15% 586,712 $19.5M Add +9.8%
TKR Timken Co. 0.15% 264,155 $19.0M Reduce -5.6%
MKTX Marketaxess Holdings Inc. 0.14% 87,634 $19.0M Add +73.0%
BDX Becton Dickinson and Co. 0.14% 80,919 $18.5M Reduce -79.7%
XLC SS Comm Select Sector SPDR 0.14% 190,113 $18.3M Reduce -2.4%
LPLA LPL Financial Holdings Inc. 0.14% 55,121 $18.0M Reduce -21.6%
OWL Blue Owl Capital Inc. 0.14% 897,519 $18.0M Add +1.8%
QQQ Invesco QQQ Trust Series 1 0.13% 37,609 $17.6M Reduce -1.6%
HXL Hexcel Corp. 0.13% 319,724 $17.5M Reduce -22.6%
DFS Discover Financial Services 0.13% 101,879 $17.4M Add +15.9%
VTR Ventas Inc. 0.13% 251,616 $17.3M Reduce -7.8%
J Jacobs Solutions Inc. 0.13% 142,673 $17.2M Reduce -0.0%
INTC Intel Corp. 0.13% 723,191 $16.4M New
LOW Lowe's Cos Inc. 0.13% 70,370 $16.4M Reduce -8.0%
IWD iShares Russell 1000 Value E 0.12% 84,363 $15.9M Add +3.0%
APTV Aptiv PLC 0.12% 265,983 $15.8M Add +15.5%
DUOL Duolingo 0.12% 50,114 $15.6M Reduce -4.7%
JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F 0.12% 298,283 $15.4M Add +0.2%
TFX Teleflex Inc. 0.12% 110,273 $15.2M Reduce -9.9%
DTE DTE Energy Company 0.11% 105,650 $14.6M Reduce -4.4%
RGLD Royal Gold Inc. 0.11% 89,170 $14.6M Reduce -6.5%
DE Deere & Co. 0.11% 30,910 $14.5M Reduce -4.2%
PR Permian Resources Corp. Class A 0.10% 979,252 $13.6M Reduce -0.7%
FDX FedEx Corp. 0.10% 55,466 $13.5M Add +0.1%
CSCO Cisco Systems Inc. 0.10% 217,418 $13.4M Reduce -2.1%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.10% 166,577 $13.1M Reduce -5.6%
MRK Merck & Co. Inc. 0.10% 144,013 $12.9M Add +32.9%
EXP Eagle Materials Inc. 0.10% 57,146 $12.7M New
LULU Lululemon Athletica Inc. 0.10% 44,066 $12.5M Reduce -5.5%
ELS Equity Lifestyle Properties 0.09% 186,003 $12.4M Add +0.5%
XLF SS Financial Select Sector 0.09% 249,058 $12.4M Reduce -2.2%
WEEI Wstwd Sal Enhnc Engy Inm ETF 0.09% 533,553 $12.2M Reduce -0.5%
BRX Brixmor Property Group Inc. 0.09% 455,447 $12.1M New
AGG iShares Core U.S. Aggregate 0.09% 121,999 $12.1M Add +187.0%
COLD Americold Realty Trust Inc. 0.09% 560,979 $12.0M Reduce -0.9%
AGCO Agco Corp. 0.09% 127,792 $11.8M Reduce -12.9%
PEGA Pegasystems Inc. 0.09% 168,538 $11.7M Add +1.1%
SPY SS SPDR S&P 500 ETF Trust-US 0.09% 19,947 $11.2M Reduce -66.6%
MDT Medtronic PLC 0.09% 123,819 $11.1M Reduce -1.1%
ARM Arm Holdings PLC-ADR 0.08% 103,466 $11.0M Reduce -1.4%
VUG Vanguard Mrngstar GR ETF-Sui 0.08% 28,956 $10.7M Reduce -6.3%
B Barrick Gold Corp. 0.08% 551,144 $10.7M Add +76.0%
ESS Essex Property Trust Inc. 0.08% 34,649 $10.6M Add +0.2%
WFRD Weatherford International PL 0.08% 189,913 $10.2M Add +17.9%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.08% 239,421 $10.0M Add +0.6%
ARIS WATER SOLUTIONS INC-A 0.08% 310,933 $10.0M Add +2146.0%
COST Costco Wholesale Corp. 0.07% 10,159 $9.6M Reduce -21.9%
CTVA Corteva Inc. 0.07% 151,675 $9.5M Reduce -3.9%
DKL Delek Logistics Partners LP 0.07% 218,903 $9.5M Reduce -19.9%
CMS CMS Energy Corp. 0.07% 124,243 $9.3M Reduce -20.0%
NEXT Nextdecade Corp. 0.07% 1,179,636 $9.2M Add +9.7%
COP Conocophillips 0.07% 84,212 $8.8M Reduce -48.4%
BXMT Blackstone Mortgage Tru Class A 0.07% 425,000 $8.5M No change
LNT Alliant Energy Corp. 0.07% 131,950 $8.5M Reduce -52.0%
MKC McCormick & Co.-Non VTG SHRS 0.06% 102,668 $8.5M Reduce -2.8%
VONV Vanguard Russell 1000 Value 0.06% 98,058 $8.1M Add +41.5%
TGT Target Corp. 0.06% 77,232 $8.1M Reduce -33.2%
NNN NNN REIT Inc. 0.06% 188,767 $8.1M Add +0.1%
AVGO Broadcom Inc. 0.06% 44,534 $7.5M Reduce -14.3%
REGN Regeneron Pharmaceuticals 0.06% 11,582 $7.3M Reduce -3.7%
WCN Waste Connections Inc. 0.06% 37,484 $7.3M Add +0.0%
META Meta Platforms Inc. Class A 0.06% 12,625 $7.3M New
CSR Centerspace 0.05% 110,000 $7.1M Reduce -2.7%
OUT Outfront Media Inc. 0.05% 439,009 $7.1M New
SJM The JM Smucker Co. filed as SMUCKER J M CO 0.05% 56,816 $6.7M No change
BXP BXP Inc. 0.05% 100,000 $6.7M Reduce -5.1%
WY Weyerhaeuser Co. 0.05% 226,761 $6.6M Reduce -2.1%
SHW The Sherwin-Williams Co. 0.05% 18,979 $6.6M No change
VB Vanguard Most SM-Cap ETF-Usd 0.05% 28,082 $6.2M New
RVTY Revvity Inc. 0.05% 57,927 $6.1M No change
MPWR Monolithic Power Systems Inc. 0.05% 10,467 $6.1M No change
HCA HCA Healthcare Inc. 0.05% 17,544 $6.1M No change
DHR Danaher Corp. 0.05% 29,148 $6.0M Reduce -38.5%
XLP SS Consumer Staples Sel Sect 0.05% 72,488 $5.9M Reduce -2.0%
GTY Getty Realty Corp. 0.04% 187,500 $5.8M Reduce -16.7%
XLV SS Health Care Select Sector 0.04% 38,414 $5.6M Reduce -2.6%
GLPI Gaming and Leisure Propertie 0.04% 110,000 $5.6M Reduce -10.9%
CDNS Cadence Design SYS Inc. 0.04% 21,770 $5.5M Reduce -0.3%
MU Micron Technology Inc. 0.04% 62,045 $5.4M Add +0.1%
STE Steris PLC 0.04% 23,046 $5.2M No change
IUSG iShares Core S&P U.S. Growth 0.04% 39,177 $5.0M Reduce -9.0%
AMGN Amgen Inc. 0.04% 15,606 $4.9M Add +30.3%
SNPS Synopsys Inc. 0.04% 11,234 $4.8M No change
FANG Diamondback Energy Inc. 0.04% 30,096 $4.8M Add +7.6%
BRK.A Berkshire Hathaway Inc. Class A 0.04% 6 $4.8M No change
MGV Vngrd Mrgstr MG CP VL ETF-Ui 0.04% 35,850 $4.6M No change
APLE Apple Hospitality REIT Inc. 0.03% 350,000 $4.5M Reduce -9.9%
FPI Farmland Partners Inc. 0.03% 400,000 $4.5M No change
T AT&T Inc. 0.03% 156,018 $4.4M Add +29.7%
AVB Avalonbay Communities Inc. 0.03% 20,013 $4.3M Add +0.1%
TYL Tyler Technologies Inc. 0.03% 7,319 $4.3M Reduce -7.6%
LLY Eli Lilly & Co. 0.03% 5,079 $4.2M Reduce -3.7%
MCK McKesson Corp. 0.03% 6,110 $4.1M Add +81.0%
RYN Rayonier Inc. 0.03% 146,266 $4.1M Add +4.5%
AMT American Tower Corp. 0.03% 17,572 $3.8M Reduce -22.2%
DELL Dell Technologies -C 0.03% 41,455 $3.8M Add +2.2%
EGP Eastgroup Properties Inc. 0.03% 20,455 $3.6M New
ITOT iShares Core S&P Total U.S. 0.03% 29,348 $3.6M Reduce -42.4%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.03% 32,304 $3.5M Add +20.6%
KO The Coca-Cola Co. 0.03% 48,868 $3.5M Reduce -6.6%
CDW CDW Corp. 0.02% 20,030 $3.2M New
APO Apollo Global Management Inc. 0.02% 23,247 $3.2M Add +32.5%
PM Philip Morris International 0.02% 17,107 $2.7M New
VEU Vanguard Ftse All-World Ex-U 0.02% 44,157 $2.7M Reduce -15.7%
ALC Alcon Inc. filed as ALCON AG 0.02% 27,849 $2.6M New
ADBE Adobe Inc. 0.02% 6,779 $2.6M Reduce -28.3%
BMY Bristol-Myers Squibb Co. 0.02% 42,211 $2.6M Add +67.6%
ORCL Oracle Corp. 0.02% 17,815 $2.5M Add +338.4%
FCX Freeport-McMoran Inc. 0.02% 65,188 $2.5M Reduce -19.4%
CEG Constellation Energy 0.02% 11,598 $2.3M New
VST Vistra Corp. 0.02% 19,546 $2.3M New
VZ Verizon Communications Inc. 0.02% 50,212 $2.3M Reduce -38.8%
GEV GE Vernova Inc. 0.02% 7,363 $2.2M Reduce -47.0%
GE General Electric filed as GE AEROSPACE 0.02% 11,206 $2.2M Reduce -28.3%
BIV Vanguard Intermediate-Term B 0.02% 29,171 $2.2M Reduce -4.3%
EQT Eqt Corp. 0.02% 41,294 $2.2M Add +529.4%
CLX Clorox Company 0.02% 14,576 $2.1M Reduce -1.4%
WSM Williams-Sonoma Inc. 0.02% 12,899 $2.0M Reduce -1.4%
DOCU Docusign Inc. 0.02% 24,361 $2.0M Add +6.4%
EMR Emerson Electric Co. 0.01% 17,903 $2.0M Reduce -12.6%
CB Chubb Ltd. 0.01% 6,488 $2.0M Reduce -39.9%
CAT Caterpillar Inc. 0.01% 5,847 $1.9M Reduce -0.9%
DAL Delta Air Lines Inc. 0.01% 43,350 $1.9M Reduce -93.2%
PWR Quanta Services Inc. 0.01% 7,398 $1.9M Add +0.1%
ABBV Abbvie Inc. 0.01% 8,805 $1.8M Reduce -22.6%
ACIC American Coastal Insurance C 0.01% 150,735 $1.7M No change
IWF iShares Russell 1000 Growth 0.01% 4,793 $1.7M Reduce -7.8%
TSLA Tesla Inc. 0.01% 6,048 $1.6M Reduce -15.1%
ARLO Arlo Technologies Inc. 0.01% 158,675 $1.6M Reduce -89.2%
AVNT Avient Corp. 0.01% 40,801 $1.5M Add +18.3%
SUN Sunoco LP 0.01% 25,596 $1.5M Reduce -23.4%
SW Smurfit Westrock PLC 0.01% 31,313 $1.4M Reduce -17.1%
PG The Procter & Gamble Co. 0.01% 7,952 $1.4M Reduce -18.4%
SPTM SS SPDR P S&P 1500 Comp ETF 0.01% 19,863 $1.4M No change
IEMG iShares Core MSCI Emerging 0.01% 24,687 $1.3M Reduce -1.1%
CRSP Crispr Therapeutics AG 0.01% 39,066 $1.3M Reduce -26.4%
ROK Rockwell Automation Inc. 0.01% 4,876 $1.3M Reduce -22.3%
PFF iShares Preferred & Income S 0.01% 39,801 $1.2M Add +5.5%
PANW Palo Alto Networks Inc. 0.01% 6,890 $1.2M Reduce -24.0%
MP MP Materials Corp. 0.01% 46,708 $1.1M Reduce -22.4%
IWM iShares Russell 2000 ETF 0.01% 5,548 $1.1M Reduce -90.2%
TMO Thermo Fisher Scientific Inc. 0.01% 2,222 $1.1M Reduce -0.8%
RIVN Rivian Automotive Inc. Class A 0.01% 87,533 $1.1M Reduce -20.8%
VOO Vanguard S&P 500 ETF 0.01% 2,080 $1.1M Add +3.9%
NET Cloudflare Inc. Class A 0.01% 9,285 $1.0M Reduce -18.5%
LHX L3HARRIS Technologies Inc. 0.01% 4,767 $998K Reduce -74.9%
PSX Phillips 66 0.01% 8,073 $997K Reduce -20.7%
DKS Dick's Sporting Goods Inc. 0.01% 4,899 $987K Reduce -1.3%
BP BP PLC-Spons ADR 0.01% 26,917 $910K No change
ILMN Illumina Inc. 0.01% 11,384 $903K Reduce -87.0%
SNOW Snowflake Inc. 0.01% 6,058 $885K Reduce -27.7%
CME Cme Group Inc. 0.01% 3,255 $864K Reduce -11.6%
DOC Healthpeak Properties Inc. 0.01% 42,125 $852K Reduce -19.5%
GRAL Grail Inc. 0.01% 32,584 $832K Reduce -58.1%
CQP Cheniere Energy Partners LP 0.01% 11,245 $743K Reduce -18.8%
IJR iShares Core S&P Small-Cap E 0.01% 7,068 $739K Reduce -16.1%
HOOD Robinhood Markets Inc. Class A 0.01% 17,671 $735K New
TPR Tapestry Inc. 0.01% 9,931 $699K Reduce -96.5%
RDDT Reddit Inc. Class A 0.01% 6,404 $672K Reduce -3.5%
MO Altria Group Inc. 0.01% 11,187 $671K Add +0.5%
NFLX Netflix Inc. 0.01% 717 $669K Add +1.1%
MCD McDonald's Corp. 0.01% 2,122 $663K Reduce -49.3%
VGT Vanguard Info Tech ETF 0.01% 1,213 $658K No change
THRM Gentherm Inc. 0.00% 23,494 $628K Add +20.0%
SPGI S&P Global Inc. 0.00% 1,228 $624K Reduce -67.1%
FBNC First Bancorp 0.00% 15,205 $610K Reduce -23.5%
MA Mastercard Inc. Class A 0.00% 1,109 $608K Reduce -0.2%
COIN Coinbase Global Inc. Class A 0.00% 3,496 $602K New
MEOH Methanex Corp. 0.00% 17,115 $601K No change
SMFG Sumitomo Mitsui-Spons ADR 0.00% 38,627 $597K No change
FCPT Four Corners Property Trust 0.00% 20,607 $591K Reduce -22.4%
MPC Marathon Petroleum Corp. 0.00% 4,004 $583K Add +13.3%
AMD Advanced Micro Devices 0.00% 5,655 $581K Reduce -37.1%
ZK Zeekr Intelligent Techno-ADR 0.00% 22,210 $535K Reduce -15.2%
BKR Baker Hughes Co. 0.00% 12,159 $534K Add +15.6%
DVN Devon Energy Corp. 0.00% 14,229 $532K Add +7.6%
RBLX Roblox Corp. Class A 0.00% 9,009 $525K Reduce -58.3%
VLO Valero Energy Corp. 0.00% 3,960 $523K Reduce -98.3%
TFC Truist Financial Corp. 0.00% 12,590 $518K Add +0.8%
TWST Twist Bioscience Corp. 0.00% 13,117 $515K Reduce -7.2%
OXY Occidental Petroleum Corp. 0.00% 10,280 $507K Add +15.7%
TRI Thomson Reuters Corp. 0.00% 2,906 $502K Add +0.6%
QCOM Qualcomm Inc. 0.00% 3,216 $494K Reduce -2.9%
BOKF Bok Financial Corporation 0.00% 4,639 $483K No change
XYZ Block Inc. 0.00% 8,598 $467K Reduce -18.5%
VWO Vanguard Ftse Emerging Marke 0.00% 10,095 $457K Add +0.0%
SCHD Schwab US DVD Equity ETF 0.00% 16,163 $452K No change
VXUS Vanguard Total Intl Stock 0.00% 7,050 $438K Reduce -80.8%
AHR American Healthcare REIT Inc. 0.00% 14,386 $436K Reduce -22.3%
AMKR Amkor Technology Inc. 0.00% 23,832 $430K Reduce -98.1%
CRGY Crescent Energy Inc. Class A 0.00% 37,593 $423K No change
FLNC Fluence Energy Inc. 0.00% 85,228 $413K Add +46.4%
TXRH Texas Roadhouse Inc. 0.00% 2,429 $405K Reduce -10.0%
CL Colgate-Palmolive Co. 0.00% 4,305 $403K Reduce -24.6%
HTH Hilltop Holdings Inc. 0.00% 12,971 $395K Add +0.1%
CNI Canadian Natl Railway Co. 0.00% 4,026 $392K No change
VRT Vertiv Holdings Co. Class A 0.00% 5,430 $392K New
AIG American International Group 0.00% 4,497 $391K Reduce -97.5%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.00% 4,947 $390K Add +52.6%
PB Prosperity Bancshares Inc. 0.00% 5,376 $384K Reduce -12.6%
PSEC Prospect Capital Corp. 0.00% 93,246 $382K No change
IVW iShares S&P 500 Growth ETF 0.00% 3,918 $364K No change
BN Brookfield Corp. 0.00% 6,921 $363K No change
SBR Sabine Royalty Trust 0.00% 5,303 $359K Add +0.4%
SPFI South Plains Financial Inc. 0.00% 10,735 $356K No change
SMCI Super Micro Computer Inc. 0.00% 9,889 $339K New
GPOR Gulfport Energy Corp. 0.00% 1,799 $331K Reduce -21.0%
BX Blackstone Inc. 0.00% 2,362 $330K Reduce -4.8%
TPL Texas Pacific Land Corp. 0.00% 248 $329K Add +14.8%
VECO Veeco Instruments Inc. 0.00% 16,223 $326K Reduce -22.8%
MMM 3M Co. 0.00% 2,215 $325K No change
RY Royal Bank of Canada 0.00% 2,829 $319K Reduce -1.6%
MBIN Merchants Bancorp 0.00% 8,614 $319K Reduce -8.4%
XLK SS Technology Select Sector 0.00% 1,526 $315K No change
AEP American Electric Power 0.00% 2,867 $313K Reduce -0.6%
NOC Northrop Grumman Corp. 0.00% 609 $312K Reduce -6.7%
INR Infinity Natural Resour Class A 0.00% 16,579 $311K New
MDLZ Mondelez International Inc. Class A 0.00% 4,551 $309K Reduce -1.8%
EPS Wisdomtree US Large Cap Fund 0.00% 5,113 $303K No change
FNX First Trust Mid Cap Core Alp 0.00% 2,698 $294K Reduce -4.0%
MFC Manulife Financial Corp. 0.00% 9,343 $291K No change
LIN Linde PLC 0.00% 617 $287K Reduce -84.7%
NOW ServiceNow Inc. 0.00% 357 $284K Reduce -0.6%
HAL Halliburton Co. 0.00% 11,078 $281K Add +15.5%
CTRA Coterra Energy Inc. 0.00% 9,474 $274K Add +16.6%
EFA iShares MSCI Eafe ETF 0.00% 3,345 $273K No change
USMV iShares MSCI USA Min Vol Fac 0.00% 2,875 $269K No change
RIOT Riot Platforms Inc. 0.00% 37,125 $264K No change
AROC Archrock Inc. 0.00% 9,815 $258K No change
YUM Yum! Brands Inc. 0.00% 1,600 $252K No change
IJK iShares S&P Mid-Cap 400 Grow 0.00% 2,993 $249K No change
DD Dupont DE Nemours Inc. 0.00% 3,108 $232K Add +0.7%
BBJP JPMorgan Betabuilders Japan 0.00% 4,126 $232K No change
THR Thermon Group Holdings Inc. 0.00% 8,191 $228K Reduce -22.2%
MBB iShares MBS ETF 0.00% 2,430 $228K Reduce -0.8%
BMO Bank of Montreal filed as BANK MONTREAL QUE 0.00% 2,336 $223K No change
C Citigroup Inc. 0.00% 3,118 $221K Reduce -0.6%
CMCSA Comcast Corp. Class A 0.00% 5,804 $214K Reduce -24.6%
EFAV iShares MSCI Eafe Min Vol Fa 0.00% 2,724 $212K New
IJJ iShares S&P Mid-Cap 400 Valu 0.00% 1,770 $212K No change
MUB iShares National Muni Bond E 0.00% 1,975 $208K New
ROP Roper Technologies Inc. 0.00% 350 $206K New
BBVA Banco Bilbao Vizcaya-SP ADR 0.00% 12,785 $174K No change
SOFI Sofi Technologies Inc. 0.00% 10,646 $124K No change
VERV Verve Therapeutics Inc. 0.00% 26,097 $119K No change
XIFR XPLR Infrastructure LP 0.00% 10,263 $97K No change
WGHTQ WW International Inc. filed as WW INTL INC 0.00% 111,349 $58K Reduce -4.0%
GRAB Grab Holdings Ltd. Class A 0.00% 11,249 $51K New
LPRO Open Lending Corp. 0.00% 10,000 $28K No change
Other holdings (47): bonds, preferreds, convertibles and warrants · $176.1M (not counted above)
SecurityClassShares / PrincipalValueChange
HP ENTERPRISE CO (HPE 7.625 09/01/27) 7.625 MAND CONV 260,000$12.4MNo change
BOEING CO/THE (BA 6 10/15/27) DEP CONV PFD A 180,000$10.8MNo change
RLJ LODGING TRUST (RLJ 1.95 PERP A) CUM CONV PFD A 375,000$9.2MNo change
EPR PROPERTIES (EPR 9 PERP E) CONV PFD 9% SR E 280,000$8.4MNo change
LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) NOTE 3.125% 1/1 · principal 5,987,000$8.4MNo change
AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) NOTE 0.125% 5/0 · principal 8,113,000$8.1MNo change
INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) NOTE 2.125% 2/1 · principal 4,915,000$7.2MNo change
NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) NOTE 3.000% 3/0 · principal 6,100,000$7.1MNew
NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) NOTE 3.625% 4/1 · principal 6,515,000$7.0MNo change
CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) NOTE 4.250% 8/1 · principal 6,180,000$6.7MNo change
EXACT SCIENCES CORP (EXAS 0.375 03/15/27) NOTE 0.375% 3/1 · principal 6,385,000$5.9MNo change
NEXTERA ENERGY INC (NEE 7.234 11/01/27) UNIT 11/01/2027 113,150$5.2MNo change
PEBBLEBROOK HOTEL TRUST (PEB 6.3 PERP F) 6.3 CUM PFD SR F 242,066$4.2MNew
ROYAL CARIBBEAN CRUISES (RCL 6 08/15/25) NOTE 6.000% 8/1 · principal 1,000,000$4.1MNo change
ALBEMARLE CORP (ALB 7.25 03/01/27) 7.25% DEP SHS A 100,000$3.6MNo change
LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) NOTE 2.625%12/1 · principal 2,500,000$3.5MNo change
GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) NOTE 1.500% 3/0 · principal 3,500,000$3.3MNew
TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) NOTE 0.250% 3/1 · principal 2,500,000$3.0MAdd +25.0%
EXPEDIA GROUP INC (EXPE 0 02/15/26) NOTE 2/1 · principal 3,000,000$3.0MAdd +50.0%
BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) NOTE 5.500% 3/1 · principal 3,000,000$2.9MNew
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) NOTE 1.000% 8/1 · principal 2,250,000$2.9MNo change
SUNRUN INC (RUN 4 03/01/30) NOTE 4.000% 3/0 · principal 3,900,000$2.8MNew
DEXCOM INC (DXCM 0.375 05/15/28) NOTE 0.375% 5/1 · principal 3,000,000$2.7MAdd +50.0%
JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) NOTE 2.000% 6/1 · principal 2,500,000$2.6MNo change
ADVANCED ENERGY IND (AEIS 2.5 09/15/28) NOTE 2.500% 9/1 · principal 2,500,000$2.6MAdd +66.7%
AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) NOTE 0.375% 9/0 · principal 2,500,000$2.4MNew
POST HOLDINGS INC (POST 2.5 08/15/27) NOTE 2.500% 8/1 · principal 2,000,000$2.4MNo change
LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) NOTE 1.500%12/1 · principal 2,000,000$2.4MNew
CMS ENERGY CORP (CMS 3.375 05/01/28) NOTE 3.375% 5/0 · principal 2,000,000$2.2MNo change
PROGRESS SOFTWARE CORP (PRGS 1 04/15/26) NOTE 1.000% 4/1 · principal 2,000,000$2.1MNo change
FIVE9 INC (FIVN 1 03/15/29) NOTE 1.000% 3/1 · principal 2,500,000$2.1MNew
VEECO INSTRUMENTS INC (VECO 2.875 06/01/29) NOTE 2.875% 6/0 · principal 2,000,000$2.1MNo change
SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) NOTE 0.500% 8/0 · principal 2,000,000$2.0MNo change
ZTO EXPRESS KY INC (ZTO 1.5 09/01/27) NOTE 1.500% 9/0 · principal 2,000,000$2.0MNo change
DROPBOX INC (DBX 0 03/01/28) NOTE 3/0 · principal 2,000,000$2.0MNo change
LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) NOTE 2.250% 8/1 · principal 1,500,000$1.8MAdd +50.0%
EXACT SCIENCES CORP (EXAS 0.375 03/01/28) NOTE 0.375% 3/0 · principal 2,000,000$1.8MNo change
PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) NOTE 2.875% 3/1 · principal 1,500,000$1.7MNo change
PEBBLEBROOK HOTEL TRUST (PEB 6.375 PERP E) 6.375 PFD SER E 98,002$1.7MNew
TETRA TECH INC (TTEK 2.25 08/15/28) DBCV 2.250% 8/1 · principal 1,500,000$1.6MNo change
WORKIVA INC (WK 1.25 08/15/28) NOTE 1.250% 8/1 · principal 1,500,000$1.4MNo change
SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27) NOTE 1.250% 9/1 · principal 1,500,000$1.4MNo change
VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) NOTE 2.250% 9/1 · principal 1,500,000$1.3MAdd +50.0%
WESTERN DIGITAL CORP (WDC 3 11/15/28) NOTE 3.000%11/1 · principal 1,000,000$1.3MReduce -50.0%
IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) NOTE 1.750% 6/1 · principal 1,000,000$976KNo change
DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) NOTE 12/0 · principal 1,000,000$933KNo change
RAPID7 INC (RPD 1.25 03/15/29) NOTE 1.250% 3/1 · principal 1,000,000$857KNo 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

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 617$13.2BWMB, VEA, ET, BIL, KMI
Q1 2026 452$13.7BWMB, ET, BIL, VEA, KMI
Q4 2025 426$12.1BVEA, WMB, KMI, LNG, TRGP
Q3 2025 433$13.8BET, WMB, VEA, KMI, LNG
Q2 2025Amended 419$13.7BET, WMB, VEA, MSFT, KMI
Q1 2025 416$13.1BET, WMB, OKE, TRGP, MSFT
Q4 2024 439$12.8BET, WMB, MSFT, JPM, TRGP
Q3 2024 424$12.9BET, MSFT, WMB, JPM, WES
Q2 2024 412$12.1BET, MSFT, LNG, AAPL, JPM
Q1 2024Amended 414$12.6BET, MSFT, JPM, LNG, OKE